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Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 3 Months Ended
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
INTANGIBLE ASSETS INTANGIBLE ASSETS
Ìý Ìý Ìý June 2024 March 2024
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount		 Net
Carrying
Amount
AmortizableÌýintangibleÌýassets:
Customer relationships and other 19 years Accelerated $ 261,408Ìý $ 189,927Ìý $ 71,481Ìý $ 74,963Ìý
Indefinite-lived intangible assets:
Trademarks and trade names 2,500,284Ìý 2,553,519Ìý
Intangible assets, net $ 2,571,765Ìý $ 2,628,482Ìý

During the three months ended June 2024, ±«ÓãÖ±²¥ determined that a triggering event had occurred requiring impairment testing of the Supreme® indefinite-lived trademark intangible asset. ±«ÓãÖ±²¥'s assessment gave consideration to the ongoing negotiations to sell the Supreme® brand. As a result of the impairment testing performed, ±«ÓãÖ±²¥ recorded an impairment charge of $51.0 million to the Supreme® indefinite-lived trademark intangible asset related to an increase in the market-based discount rate applied. Refer to Note 15 for additional information on fair value measurements.
Amortization expense for the three months ended June 2024 was $3.3 million. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2025 is $13.2 million, $12.2 million, $11.7 million, $10.8 million and $9.8 million, respectively.