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

Note 7 - Acquisition (Tables)

9 Months Ended

Dec. 31, 2023

Tangible assets:
Cash and cash equivalents	$	1,270
Accounts receivable		3,113
Inventories		12,578
Prepaid expenses		350
Other assets		91
Operating lease right of use assets		1,009
Property, plant and equipment		194
Total tangible assets		18,605
Amortizable intangible assets:
Tradename		300
Licensing relationships		200
Customer relationships		800
Total amortizable intangible assets		1,300
Goodwill		749
Total acquired assets		20,654

Liabilities assumed:
Accounts payable		2,048
Accrued wages and benefits		370
Operating lease liabilities, current		226
Other accrued liabilities		308
Operating lease liabilities, noncurrent		783
Total liabilities assumed		3,735
Net acquisition cost	$	16,919

Amount of goodwill recognized based upon the preliminary allocation of the acquisition cost	$	787,000
Adjustments made during the nine-month period ended December 31, 2023:
Settlement of the Aggregate Adjustment		(488,000	)
Resolution of pre-acquisition accounts receivable		(1,000	)
Revaluation of inventory as of the Closing Date		387,000
Resolution of pre-acquisition accounts payable		64,000
Net adjustments made during the nine-month period ended December 31, 2023		(38,000	)

Amount of goodwill recognized as of December 31, 2023	$	749,000