±«ÓãÖ±²¥

Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.23.1
INTANGIBLE ASSETS
 12 Months Ended
Apr. 01, 2023
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 2023
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 262,818Ìý $ 173,916Ìý $ 88,902Ìý
Indefinite-lived intangible assets:
Trademarks and trade names 2,553,919Ìý
Intangible assets, net $ 2,642,821Ìý
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount
March 2022
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 264,691Ìý $ 160,988Ìý $ 103,703Ìý
Indefinite-lived intangible assets:
Trademarks and trade names 2,896,648Ìý
Intangible assets, net $ 3,000,351Ìý

During the year ended March 2023, ±«ÓãÖ±²¥ recorded impairment charges of $340.9 million related to the Supreme® indefinite-lived trademark intangible asset. Refer to Note 23 for additional information on fair value measurements.
±«ÓãÖ±²¥ did not record any impairment charges in the year ended March 2022. ±«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.
Amortization expense for the years ended March 2023, 2022 and 2021 was $14.1 million, $15.6 million and $17.5 million, respectively. Estimated amortization expense for the next five fiscal years is $13.6 million, $13.0 million, $12.1 million, $11.6 million and $10.7 million, respectively.