Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.23.1
Goodwill and Other Intangible Assets
 12 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
The following are the changes in the carrying value of goodwill:
(Millions of US dollars) Europe Building Products
Balance - 31 March 2021
 $ 209.3 
Foreign exchange impact (9.8)
Balance - 31 March 2022
 $ 199.5 
Foreign exchange impact (4.6)
Balance - 31 March 2023
 $ 194.9 

Intangible Assets
The following are the net carrying amount of indefinite lived intangible assets other than goodwill:
  31 March
(Millions of US dollars) 2023 2022
Tradenames $ 112.3  $ 115.0 
Other 7.4  7.4 
Total $ 119.7  $ 122.4 
The following are the net carrying amount of amortizable intangible assets:
Year Ended 31 March 2023
(Millions of US dollars) Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Customer Relationships $ 47.9  $ (12.4) $ 35.5 
Total $ 47.9  $ (12.4) $ 35.5 
Year Ended 31 March 2022
(Millions of US dollars) Gross Carrying Amount Accumulated Amortization Net Carrying Amount
Customer Relationships $ 52.9  $ (12.5) $ 40.4 
Total $ 52.9  $ (12.5) $ 40.4 
The amortization of intangible assets was US$3.8 million, US$3.5 million and US$2.6 million for the fiscal years ended 31 March 2023, 2022 and 2021, respectively.
At 31 March 2023, the estimated future amortization of intangible assets is as follows:
Years ended 31 March (Millions of US dollars):
2024 $ 4.3 
2025 4.5 
2026 4.6 
2027 4.9 
2028 5.0