Crown Crafts, Inc. Annual report pursuant to Section 13 and 15(d)

Note 4 - Acquisition (Tables)

12 Months Ended

Mar. 31, 2024

Tangible assets:
Cash and cash equivalents	$	1,270
Accounts receivable		3,160
Inventories		12,479
Prepaid expenses		350
Other assets		91
Operating lease right of use assets		1,009
Property, plant and equipment		194
Total tangible assets		18,553
Amortizable intangible assets:
Tradename		300
Licensing relationships		200
Customer relationships		800
Total amortizable intangible assets		1,300
Goodwill		801
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 fiscal year ended March 31, 2024:
Settlement of the Aggregate Adjustment		(488,000	)
Increases to pre-acquisition accounts receivable		(48,000	)
Reductions to inventory as of the Closing Date		486,000
Increases to pre-acquisition accounts payable		64,000
Net adjustments made during the fiscal year ended March 31, 2024		14,000

Amount of goodwill recognized as of March 31, 2024	$	801,000