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

3 Months Ended

Jul. 03, 2022

Intangible Assets Disclosure [Text Block]

Note 9 – Other Intangible Assets

Other intangible assets as of July 3, 2022 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 July 3, 2022 and April 3, 2022, the amortization expense for the three months ended July 3, 2022 and June 27, 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
	*July 3,*		*April 3,*		*July 3,*		*April 3,*		*July 3,*		*June 27,*
	*2022*		*2022*		*2022*		*2022*		*2022*		*2021*
Tradename and trademarks	$	2,567	$	2,567	$	1,920	$	1,885	$	35	$	43
Non-compete covenants		98		98		98		98		-		1
Patents		1,601		1,601		1,016		1,003		13		13
Customer relationships		7,374		7,374		6,072		6,000		72		72
Total other intangible assets	$	11,640	$	11,640	$	9,106	$	8,986	$	120	$	129

Classification within the accompanying unaudited condensed consolidated statements of income:
Cost of products sold									$	-	$	1
Marketing and administrative expenses										120		128
Total amortization expense									$	120	$	129