| INTANGIBLE ASSETS |
INTANGIBLE ASSETS
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(In thousands) |
Weighted
Average
Amortization
Period |
Ìý |
Amortization
Method |
Ìý |
Cost |
Ìý |
Accumulated
Amortization |
Ìý |
Net
Carrying
Amount |
Ìý |
March 2020 |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Amortizable intangible assets: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Customer relationships |
18 years |
Ìý |
Accelerated |
Ìý |
$ |
276,485 |
|
Ìý |
$ |
139,468 |
|
Ìý |
$ |
137,017 |
|
Ìý |
License agreements |
19 years |
Ìý |
Accelerated |
Ìý |
7,467 |
|
Ìý |
4,919 |
|
Ìý |
2,548 |
|
Ìý |
Other |
8 years |
Ìý |
Straight-line |
Ìý |
8,019 |
|
Ìý |
5,110 |
|
Ìý |
2,909 |
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Ìý |
Amortizable intangible assets, net |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
142,474 |
|
Ìý |
Indefinite-lived intangible assets: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Trademarks and trade names |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
1,712,071 |
|
Ìý |
Intangible assets, net |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
1,854,545 |
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Ìý |
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(In thousands) |
Weighted
Average
Amortization
Period |
Ìý |
Amortization
Method |
Ìý |
Cost |
Ìý |
Accumulated
Amortization |
Ìý |
Net
Carrying
Amount |
March 2019 |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Amortizable intangible assets: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Customer relationships |
18 years |
Ìý |
Accelerated |
Ìý |
$ |
283,883 |
|
Ìý |
$ |
125,106 |
|
Ìý |
$ |
158,777 |
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License agreements |
19 years |
Ìý |
Accelerated |
Ìý |
7,536 |
|
Ìý |
4,729 |
|
Ìý |
2,807 |
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Other |
8 years |
Ìý |
Straight-line |
Ìý |
8,112 |
|
Ìý |
4,136 |
|
Ìý |
3,976 |
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Amortizable intangible assets, net |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
165,560 |
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Indefinite-lived intangible assets: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Trademarks and trade names |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
1,741,897 |
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Intangible assets, net |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
1,907,457 |
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Intangible assets decreased during the year ended March 2020 due to amortization and the impact of foreign currency fluctuations.
±«ÓãÖ±²¥ did not record any impairment charges in the years ended March 2020 or 2019, the three months ended March 2018 or the year ended December 2017.
Amortization expense for the years ended March 2020 and 2019, the three months ended March 2018 and the year ended December 2017 was $18.7 million, $20.5 million, $5.0 million and $14.2 million, respectively. Estimated amortization expense for the next five fiscal years is $17.3 million, $16.2 million, $15.0 million, $14.5 million and $14.1 million, respectively.
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