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

Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Other Intangible Assets

Note 9 - Other Intangible Assets

9 Months Ended

Jan. 01, 2023

Intangible Assets Disclosure [Text Block]

Note 9 – Other Intangible Assets

Other intangible assets as of January 1, 2023 and April 3, 2022 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 January 1, 2023 and April 3, 2022, the amortization expense for the three- and nine-month periods ended January 1, 2023 and December 26, 2021, 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
	*January 1,*		*April 3,*		*January 1,*		*April 3,*		*January 1,*		*December 26,*		*January 1,*		*December 26,*
	*2023*		*2022*		*2023*		*2022*		*2023*		*2021*		*2023*		*2021*
Tradename and trademarks	$	2,567	$	2,567	$	1,990	$	1,885	$	35	$	43	$	105	$	128
Non-compete covenants		98		98		98		98		-		2		-		5
Patents		1,601		1,601		1,042		1,003		13		13		39		40
Customer relationships		7,374		7,374		6,217		6,000		72		72		217		216
Total other intangible assets	$	11,640	$	11,640	$	9,347	$	8,986	$	120	$	130	$	361	$	389

Classification within the accompanying unaudited condensed consolidated statements of income:
Cost of products sold									$	-	$	2	$	-	$	5
Marketing and administrative expenses										120		128		361		384
Total amortization expense									$	120	$	130	$	361	$	389