Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.19.2
INTANGIBLE ASSETS
 3 Months Ended
Jun. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
 
 
 
 
 
 
 
June 2019
 
 
March 2019
(In thousands)
 
Weighted
Average
Amortization
Period
 
Amortization
Method
 
 
Cost
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
 
Net
Carrying
Amount
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
17 years
 
Accelerated
 
 
$
332,746

 
$
141,015

 
$
191,731

 
 
$
197,129

License agreements
 
19 years
 
Accelerated
 
 
7,616

 
4,835

 
2,781

 
 
2,807

Trademark
 
3 years
 
Straight-line
 
 
800

 
458

 
342

 
 
399

Other
 
8 years
 
Straight-line
 
 
8,264

 
4,443

 
3,821

 
 
4,032

Amortizable intangible assets, net
 
 
 
 
 
 
 
 
198,675

 
 
204,367

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks and trade names
 
 
 
 
 
 
 
 
1,782,246

 
 
1,767,997

Intangible assets, net
 
 
 
 
 
 
 
 
 
 
$
1,980,921

 
 
$
1,972,364



Intangible assets increased during the three months ended June 2019 due to the impact of foreign currency fluctuations.
Amortization expense for the three months ended June 2019 was $6.3 million. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2020 is $25.7 million, $24.3 million, $22.7 million, $21.3 million and $20.5 million, respectively.