The Company's changes in goodwill at June 30, 2026 and 2025 consisted of the following:


(in thousands of dollars)	Three Months Ended June 30,
	2026		2025
Balance at beginning of fiscal year	$	172,695	$	213,840

Foreign currency translation adjustment	(16)		24

Balance at end of period	$	172,679	$	213,864

The Company's intangible assets primarily consist of capitalized customer-related intangibles, trade names, proprietary developed technology and noncompetition agreements. The Company's intangible assets subject to amortization consisted of the following at June 30, 2026 and 2025 and at March 31, 2026:


(in thousands, except useful life)				June 30, 2026
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(42,818)	$	43,682
Trade names		5		11,100		(11,100)		—
Developed technology		13		9,300		(6,444)		2,856
Noncompetition agreements		4		4,000		(4,000)		—
Other		5		709		(654)		55
Total intangible assets				$	111,609	$	(65,016)	$	46,593


				June 30, 2025
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(35,087)	$	51,413
Trade names		5		11,100		(10,710)		390
Developed technology		13		9,300		(6,098)		3,202
Noncompetition agreements		4		4,000		(3,813)		187
Other		5		866		(821)		45
Total intangible assets				$	111,766	$	(56,529)	$	55,237


				March 31, 2026
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(40,885)	$	45,615
Trade names		5		11,100		(11,100)		—
Developed technology		13		9,300		(6,358)		2,942
Noncompetition agreements		4		4,000		(4,000)		—
Other		5		694		(647)		47
Total intangible assets				$	111,594	$	(62,990)	$	48,604

Intangible assets are amortized on a straight-line basis over the asset's estimated useful economic life, as noted above.

The Company's amortization expense for intangible assets for the three months ended June 30, 2026 and 2025 was:


(in thousands of dollars)	Three Months Ended June 30,
		2026		2025
Amortization Expense		$	2,026	$	2,663

Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated statements of income. The amortization expense for other intangible assets is recorded in selling, general, and administrative expenses in the consolidated statements of income.

As of June 30, 2026, the expected future amortization expense for intangible assets was as follows:


Fiscal Year (in thousands of dollars)
2027 (excluding the three months ended June 30, 2026)	$	6,081
2028	8,109
2029	8,077
2030	8,077
2031 and thereafter	16,249
Total expected future amortization expense	$	46,593