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

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Tables)

v3.19.1
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Assets, Including Goodwill [Table Text Block]
The following are the changes in the carrying value of indefinite-lived intangible assets for the year ended 31 March 2019:
(Millions of US dollars)
Goodwill1
 
Trade names2
 
Other3
Balance - 31 March 2018
$
4.9

 
$
—

 
$
7.4

Acquired during the period
220.0

 
126.8

 
—

Impairment
(4.6
)
 
—

 
—

Foreign exchange impact
(19.2
)
 
(10.7
)
 
—

Balance - 31 March 2019
$
201.1

 
$
116.1

 
$
7.4

____________
1
At 31 March 2019, Goodwill of US$200.8 million and US$0.3 million was included in the Europe Building Products segment and Asia Pacific Fiber Cement segment, respectively. At 31 March 2018, Goodwill of US$4.6 million and US$0.3 million was included in the Other Businesses segment and the Asia Pacific Fiber Cement segment, respectively. During the year ended 31 March 2019, the Company recorded a US$4.6 million goodwill impairment charge in the Other Businesses segment due to the Company's decision to cease production of its fiberglass windows business. The Company did not record any goodwill impairment charges for the years ended 31 March 2018 and 2017.
2
Trade names are included in the Europe Building Products segment at 31 March 2019.
3
Other indefinite-lived intangible assets are included in the North America Fiber Cement segment at 31 March 2019 and 2018.
Schedule of Finite-Lived Intangible Assets [Table Text Block]
The following are the changes in the carrying value of amortizable intangible assets primarily held in the Europe Building Products segment for the year ended 31 March 2019:
(Millions of US dollars)
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Customer relationships:
 
 
 
 

Balance - 31 March 2018
$
—

 
$
—

 
$
—

Acquired during the period
57.8

 
—

 
57.8

Amortization
—

 
(4.8
)
 
(4.8
)
Foreign exchange impact
(5.8
)
 
0.5

 
(5.3
)
Balance - 31 March 2019
$
52.0

 
$
(4.3
)
 
$
47.7

(Millions of US dollars)
Gross Carrying Amount
 
Accumulated Amortization and Impairment
 
Net Carrying Amount
Other intangibles:
 
 
 
 
 
Balance - 31 March 2018
$
9.7

 
$
(4.8
)
 
$
4.9

Acquired during the period
2.4

 
—

 
2.4

Amortization
—

 
(1.3
)
 
(1.3
)
Impairment
—

 
(2.6
)
 
(2.6
)
Foreign exchange impact
(0.3
)
 
0.1

 
(0.2
)
Balance - 31 March 2019
$
11.8

 
$
(8.6
)
 
$
3.2

Weighted-Average Remaining Useful Life of Intangible Assets [Table Text Block]
At 31 March 2019 and 2018, the weighted-average remaining useful life of the Company's amortizable intangible assets is as follows:

(In Years)
31 March 2019
 
31 March 2018
Customer Relationships
12.0
 
—

Other Intangibles
7.5
 
6.1
Total
11.7
 
6.1
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
At 31 March 2019, the estimated future amortization of intangible assets is as follows:
Years ended 31 March (Millions of US dollars):
 
2020
$
3.2

2021
2.8

2022
3.6

2023
4.4

2024
4.7