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Goodwill and Other Intangible Assets | 12 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 13. Goodwill and Other Intangible Assets Changes in goodwill by reportable segment for fiscal 2021, 2022 and 2023 are as follows:
|  | Millions of yen |
|  | Corporate Financial Services and Maintenance Leasing |  |  | Real Estate |  |  | PE Investment and Concession |  |  | Environment and Energy |  |  | Insurance |  |  | Banking and Credit |
Balance at March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | ¥ | 66,865 |  |  | ¥ | 16,359 |  |  | ¥ | 89,455 |  |  | ¥ | 4,116 |  |  | ¥ | 5,124 |  |  | ¥ | 10,971 |
Accumulated impairment losses |  |  | (837 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (39 | ) |  |  | 0 |  |  |  | 0 |
|  |  | 66,028 |  |  |  | 16,359 |  |  |  | 89,455 |  |  |  | 4,077 |  |  |  | 5,124 |  |  |  | 10,971 |
Acquired |  |  | 478 |  |  |  | 0 |  |  |  | 47,011 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | (12 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 7 |  |  |  | 0 |  |  |  | (14,002 | ) |  |  | (3,933 | ) |  |  | (109 | ) |  |  | 0 |
Balance at March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 67,350 |  |  |  | 16,359 |  |  |  | 122,464 |  |  |  | 183 |  |  |  | 5,015 |  |  |  | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (39 | ) |  |  | 0 |  |  |  | 0 |
|  |  | 66,501 |  |  |  | 16,359 |  |  |  | 122,464 |  |  |  | 144 |  |  |  | 5,015 |  |  |  | 10,971 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 49,115 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | 0 |  |  |  | (191 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (371 | ) |  |  | 0 |
Other (net)* |  |  | (54,925 | ) |  |  | 0 |  |  |  | (22,526 | ) |  |  | 357 |  |  |  | 0 |  |  |  | 0 |
Balance at March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 12,425 |  |  |  | 16,359 |  |  |  | 99,938 |  |  |  | 49,655 |  |  |  | 5,015 |  |  |  | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | (191 | ) |  |  | 0 |  |  |  | (39 | ) |  |  | (371 | ) |  |  | 0 |
|  |  | 11,576 |  |  |  | 16,168 |  |  |  | 99,938 |  |  |  | 49,616 |  |  |  | 4,644 |  |  |  | 10,971 |
Acquired |  |  | 3,529 |  |  |  | 0 |  |  |  | 119,767 |  |  |  | 4,028 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 0 |  |  |  | 0 |  |  |  | (12,954 | ) |  |  | 4,524 |  |  |  | 0 |  |  |  | 0 |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 15,954 |  |  |  | 16,359 |  |  |  | 206,751 |  |  |  | 58,207 |  |  |  | 5,015 |  |  |  | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | (191 | ) |  |  | 0 |  |  |  | (39 | ) |  |  | (371 | ) |  |  | 0 |
|  | ¥ | 15,105 |  |  | ¥ | 16,168 |  |  | ¥ | 206,751 |  |  | ¥ | 58,168 |  |  | ¥ | 4,644 |  |  | ¥ | 10,971 |
|  | Millions of yen |
|  | Aircraft and Ships |  |  | ORIX USA |  |  | ORIX Europe |  |  | Asia and Australia |  |  | Corporate |  |  | Total |
Balance at March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | ¥ | 587 |  |  | ¥ | 129,246 |  |  | ¥ | 117,953 |  |  | ¥ | 7,390 |  |  | ¥ | 0 |  |  | ¥ | 448,066 |
Accumulated impairment losses |  |  | (587 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (4,248 | )
|  |  | 0 |  |  |  | 129,246 |  |  |  | 117,953 |  |  |  | 4,605 |  |  |  | 0 |  |  |  | 443,818 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 11,697 |  |  |  | 0 |  |  |  | 0 |  |  |  | 59,186 |
Impairment |  |  | 0 |  |  |  | (1,494 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (1,506 | )
Other (net)* |  |  | 0 |  |  |  | 566 |  |  |  | 10,847 |  |  |  | 402 |  |  |  | 0 |  |  |  | (6,222 | )
Balance at March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 129,812 |  |  |  | 140,497 |  |  |  | 7,792 |  |  |  | 0 |  |  |  | 501,030 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (5,754 | )
|  |  | 0 |  |  |  | 128,318 |  |  |  | 140,497 |  |  |  | 5,007 |  |  |  | 0 |  |  |  | 495,276 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 278 |  |  |  | 49,393 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (562 | )
Other (net)* |  |  | 0 |  |  |  | 12,682 |  |  |  | 8,773 |  |  |  | 388 |  |  |  | 0 |  |  |  | (55,251 | )
Balance at March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 142,494 |  |  |  | 149,270 |  |  |  | 8,180 |  |  |  | 278 |  |  |  | 495,172 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (6,316 | )
|  |  | 0 |  |  |  | 141,000 |  |  |  | 149,270 |  |  |  | 5,395 |  |  |  | 278 |  |  |  | 488,856 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 127,324 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 0 |  |  |  | 10,582 |  |  |  | 9,318 |  |  |  | 33 |  |  |  | 0 |  |  |  | 11,503 |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 153,076 |  |  |  | 158,588 |  |  |  | 8,213 |  |  |  | 278 |  |  |  | 633,999 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (6,316 | )
|  | ¥ | 0 |  |  | ¥ | 151,582 |  |  | ¥ | 158,588 |  |  | ¥ | 5,428 |  |  | ¥ | 278 |  |  | ¥ | 627,683 |
* | Other includes foreign currency translation adjustments, decreases due to sale of ownership interest in subsidiaries and certain other reclassifications.
As a result of the impairment test, the Company and its subsidiaries recognized impairment losses on goodwill of ¥12 million in Corporate Financial Services and Maintenance Leasing segment, and ¥1,494 million in ORIX USA segment during fiscal 2021. The Company and its subsidiaries recognized impairment losses on goodwill of ¥191 million in Real Estate segment, and ¥371 million in Insurance segment during fiscal 2022. The Company and its subsidiaries recognized no impairment losses on goodwill during fiscal 2023. These impairment losses are accounted in other (income) and expense. The fair values of these reporting units were measured using mainly discounted cash flow methodologies and business enterprise value multiples methodologies. Other intangible assets at March 31, 2022 and 2023 consist of the following:
|  | Millions of yen |
|  | 2022 |  |  | 2023 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |
Trade names |  | ¥ | 44,975 |  |  | ¥ | 115,049 |
Asset management contracts |  |  | 48,533 |  |  |  | 51,558 |
Others |  |  | 12,126 |  |  |  | 12,375 |
|  |  | 105,634 |  |  |  | 178,982 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |
Software |  |  | 130,118 |  |  |  | 141,747 |
Customer relationships |  |  | 143,963 |  |  |  | 161,936 |
Asset management contracts |  |  | 98,014 |  |  |  | 104,481 |
Others |  |  | 123,397 |  |  |  | 154,413 |
|  |  | 495,492 |  |  |  | 562,577 |
Accumulated amortization |  |  | (197,505 | ) |  |  | (223,417 | )
Net |  |  | 297,987 |  |  |  | 339,160 |
|  | ¥ | 403,621 |  |  | ¥ | 518,142 |
The aggregate amortization expenses for intangible assets are ¥28,748 million, ¥32,235 million and ¥34,212 million in fiscal 2021, 2022 and 2023, respectively. The estimated amortization expenses for each of five succeeding fiscal years are ¥39,737 million in fiscal 2024, ¥35,454 million in fiscal 2025, ¥31,148 million in fiscal 2026, ¥28,437 million in fiscal 2027 and ¥24,291 million in fiscal 2028, respectively. Intangible assets subject to amortization increased during fiscal 2023 are ¥78,181 million. They mainly consist of ¥25,279 million of software, ¥ 14,703 million of customer relationships recognized in acquisitions and ¥15,500 million of license recognized in acquisitions for others . The weighted average amortization periods for the software , customer relationships recognized in acquisitions and license recognized in acquisitions are 6 years , 14 years and 15 years , respectively. As a result of the impairment test, the Company and its subsidiaries recognized impairment losses of ¥2 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥217 million on intangible assets included in Real Estate segment, ¥4 million on intangible assets included in PE Investment and Concession segment, ¥2 million on intangible assets included in Environment and Energy segment, ¥2 million on intangible assets included in Insurance segment, ¥505 million on intangible assets included in Aircraft and Ships segment, and ¥414 million on intangible assets included in ORIX USA segment during fiscal 2021. The Company and its subsidiaries recognized impairment losses of ¥650 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥259 million on intangible assets included in Aircraft and Ships segment, and ¥21,090 million on intangible assets included in ORIX Europe segment during fiscal 2022. The Company and its subsidiaries recognized impairment losses of ¥1 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥405 million on intangible assets included in Aircraft and Ships segment, and ¥110 million on intangible assets included in ORIX USA segment during fiscal 2023. The impairment losses for fiscal 2021, 2022 and 2023 are included in other (income) and expense in the consolidated statements of income. These impairment losses are recognized due to the reduction in the estimated future cash flow, which brought the fair values of the intangible assets below its carrying amount. The fair values of these intangible assets were measured using mainly discounted cash flow methodologies.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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