±«ÓãÖ±²¥

Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.21.1
INTANGIBLE ASSETS
 12 Months Ended
Apr. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
INTANGIBLE ASSETS INTANGIBLE ASSETS
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount
March 2021
Amortizable intangible assets:
Customer relationships 19 years Accelerated $ 263,842Ìý $ 146,635Ìý $ 117,207Ìý
License agreements 20 years Accelerated 6,747Ìý 4,299Ìý 2,448Ìý
Other 8 years Straight-line 7,233Ìý 5,247Ìý 1,986Ìý
Amortizable intangible assets, net 121,641Ìý
Indefinite-lived intangible assets:
Trademarks and trade names 2,907,904Ìý
Intangible assets, net $ 3,029,545Ìý
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount
March 2020
Amortizable intangible assets:
Customer relationships 18 years Accelerated $ 276,485Ìý $ 139,468Ìý $ 137,017Ìý
License agreements 19 years Accelerated 7,467Ìý 4,919Ìý 2,548Ìý
Other 8 years Straight-line 8,019Ìý 5,110Ìý 2,909Ìý
Amortizable intangible assets, net 142,474Ìý
Indefinite-lived intangible assets:
Trademarks and trade names 1,712,071Ìý
Intangible assets, net $ 1,854,545Ìý
The acquired Supreme® trademark is included as an indefinite-lived intangible asset as of March 2021. Refer to Note 3 for additional information.
±«ÓãÖ±²¥ recorded impairment charges of $20.4Ìýmillion in the year ended March 2021 primarily due to the write-off of certain trademark and customer relationship balances, which resulted from strategic actions taken by the Company.
±«ÓãÖ±²¥ did not record any impairment charges in the years ended March 2020 or 2019.
Amortization expense for the years ended March 2021, 2020 and 2019 was $17.5 million, $18.7 million and $20.5 million, respectively. Estimated amortization expense for the next five fiscal years is $15.6 million, $14.6 million, $14.1 million, $13.6 million and $12.5 million, respectively.