Crown Crafts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Other Intangible Assets

Note 10 - Other Intangible Assets

9 Months Ended

Dec. 26, 2021

Intangible Assets Disclosure [Text Block]

Note 10 – Other Intangible Assets

Other intangible assets as of December 26, 2021 and March 28, 2021 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 December 26, 2021 and March 28, 2021, the amortization expense for the three- and nine-month periods ended December 26, 2021 and December 27, 2020, and the classification of such amortization expense within the accompanying unaudited condensed consolidated statements of income are as follows (in thousands):

									Amortization Expense
	Gross Amount				Accumulated Amortization				Three-Month Periods Ended				Nine-Month Periods Ended
	*December 26,*		*March 28,*		*December 26,*		*March 28,*		*December 26,*		*December 27,*		*December 26,*		*December 27,*
	*2021*		*2021*		*2021*		*2021*		*2021*		*2020*		*2021*		*2020*
Tradename and trademarks	$	2,567	$	2,567	$	1,850	$	1,722	$	43	$	61	$	128	$	183
Developed technology		-		-		-		-		-		28		-		83
Non-compete covenants		98		98		98		93		2		19		5		59
Patents		1,601		1,601		990		950		13		13		40		48
Customer relationships		7,374		7,374		5,928		5,712		72		72		216		223
Total other intangible assets	$	11,640	$	11,640	$	8,866	$	8,477	$	130	$	193	$	389	$	596

Classification within the accompanying unaudited condensed consolidated statements of income:
Cost of products sold									$	2	$	2	$	5	$	5
Marketing and administrative expenses										128		191		384		591
Total amortization expense									$	130	$	193	$	389	$	596