–

 

Goodwill represents the excess of the purchase price over the fair value of net identifiable assets acquired in business combinations. For the purpose of presenting and measuring for the impairment of goodwill, the Company has reporting units: that produces and markets infant and toddler bedding, blankets and accessories and another that produces and markets infant and toddler bibs, developmental toys, bath care and disposable products. The goodwill of the reporting units of the Company as of and amounted to million, which is reflected in the accompanying consolidated balance sheets net of accumulated impairment charges of million, for a net reported balance of million.

 

The Company measures for impairment the goodwill within its reporting units annually as of the day of the Company's fiscal year. An additional interim measurement for impairment is performed during the year whenever an event or change in circumstances occurs that suggests that the fair value of either of the reporting units of the Company has more likely than (defined as having a likelihood of greater than ) fallen below its carrying value. The annual or interim measurement for impairment is performed by assessing qualitative factors to determine whether it is more likely than that the fair value of a reporting unit is less than its carrying amount. If such qualitative factors so indicate, then the measurement for impairment is continued by calculating an estimate of the fair value of each reporting unit and comparing the estimated fair value to the carrying value of the reporting unit. If the carrying value exceeds the estimated fair value of the reporting unit, then an impairment charge is calculated as the difference between the carrying value of the reporting unit and its estimated fair value, to exceed the goodwill of the reporting unit.

 

On the Company performed the annual measurement for impairment of the goodwill of its reporting units and concluded that the estimated fair value of each of the Company's reporting units exceeded their carrying values, and thus the goodwill of the Company's reporting units was impaired as of that date.

 

Other intangible assets as of and consisted primarily of the fair value of identifiable assets acquired in business combinations other than tangible assets and goodwill. The gross amount and accumulated amortization of the Company's other intangible assets as of and the amortization expense for fiscal years and and the classification of such amortization expense within the accompanying consolidated statements of income are as follows (in thousands):

 

																		Amortization Expense
		Gross Amount								Accumulated Amortization								Fiscal Year Ended
		March 28,				March 29,				March 28,				March 29,				March 28,				March 29,
		2021				2020				2021				2020				2021				2020
Tradename and trademarks		$	2,567			$	3,667			$	1,722			$	1,747			$	244			$	246
Developed technology			-				1,100				-				293				110				110
Non-compete covenants			98				458				93				278				79				78
Patents			1,601				1,601				950				889				61				108
Customer relationships			7,374				7,374				5,712				5,416				296				313
Total other intangible assets		$	11,640			$	14,200			$	8,477			$	8,623			$	790			$	855
Classification within the accompanying consolidated statements of income:
Cost of products sold																		$	7			$	6
Marketing and administrative expenses																			783				849
Total																		$	790			$	855

 

The Company estimates that its amortization expense will be and in fiscal years and respectively.

 

As disclosed in Note – Carousel Designs, the Company recognized a loss of million from the impairment of Carousel's long-lived assets during the fiscal year ended which included million of the impairment of the full carrying value of Carousel's intangible assets other than goodwill as of