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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | 3.GOODWILL AND INTANGIBLE ASSETS Changes to the carrying amount of goodwill for the years ended March 31, 2023 and 2022 were as follows:
|  | Healthcare Segment |  | Applied Sterilization Technologies Segment |  | Life Sciences Segment |  | Dental |  | Total
Balance at March 31, 2021 |  | 1,384,763 |  |  | 1,492,239 |  |  | 149,047 |  |  | — |  |  | 3,026,049 |
Cantel goodwill acquired |  | 1,019,332 |  |  | — |  |  | 30,356 |  |  | 472,693 |  |  | 1,522,381 |
Measurement period adjustments to acquired goodwill |  | (6,533) |  |  | (9,286) |  |  | — |  |  | — |  |  | (15,819) |
Divestitures |  | (7,000) |  |  | — |  |  | — |  |  | — |  |  | (7,000) |
Foreign currency translation adjustments and other |  | (63,732) |  |  | (50,095) |  |  | (115) |  |  | (7,326) |  |  | (121,268) |
Balance at March 31, 2022 |  | $ | 2,326,830 |  |  | $ | 1,432,858 |  |  | $ | 179,288 |  |  | $ | 465,367 |  |  | $ | 4,404,343 |
Goodwill acquired |  | 6,221 |  |  | 803 |  |  | — |  |  | — |  |  | 7,024 |
Measurement period adjustments to acquired goodwill |  | (21,624) |  |  | — |  |  | 3,147 |  |  | 40,565 |  |  | 22,088 |
Impairment |  | — |  |  | — |  |  | — |  |  | (490,565) |  |  | (490,565) |
Divestiture |  | (2,358) |  |  | — |  |  | — |  |  | — |  |  | (2,358) |
Foreign currency translation adjustments and other |  | (7,796) |  |  | (37,527) |  |  | (623) |  |  | (15,367) |  |  | (61,313) |
Balance at March 31, 2023 |  | $ | 2,301,273 |  |  | $ | 1,396,134 |  |  | $ | 181,812 |  |  | $ | — |  |  | $ | 3,879,219 |
See Note 2 titled, "Business Acquisitions and Divestitures," for additional information regarding our recent business acquisitions and divestitures. We evaluate the recoverability of recorded goodwill annually at the reporting unit level during the third fiscal quarter, or when evidence of potential impairment exists. The Company's reporting units are equivalent to the reportable operating segments. In connection with the preparation of our second quarter consolidated financial statements, we considered the risk of impairment due to deteriorating macroeconomic conditions including rising interest rates and inflationary pressures on material and labor costs, as well as uncertainty regarding the impact such economic strains will have on patient and Customer behavior in the short-term. Our conclusion, based on the qualitative assessment of these factors, was that it was more likely than not that the goodwill allocated to the Dental segment as of September 30, 2022 was impaired. Our quantitative analysis to measure the extent of goodwill impairment compared the estimated fair value to the carrying value of the Dental segment. The fair value is estimated as the present value of future cash flows. Future cash flow projections are consistent with those used in our forecasting and strategic planning processes. The determination of the discount rate requires judgement and assumptions to be developed about the weighted average cost of capital that market participants would employ in evaluating the current fair value of the business. The macroeconomic factors that triggered the interim review are also the drivers of the increase in the weighted average cost of capital assumption. In connection with the preparation of our second quarter consolidated financial statements, we identified that the estimated fair value of the Dental segment was below the carrying value and recognized a non-cash goodwill impairment charge of $490,565. The impairment charge was recorded within "Goodwill impairment loss" in the Consolidated Statements of Income during the second quarter of fiscal 2023. Our review as of the second quarter of fiscal 2023 did not indicate that impairment of goodwill was more likely than not for any of the remaining segments during the period. The annual goodwill impairment review was conducted in the third quarter of fiscal 2023 as planned. No additional goodwill impairment was identified during this review. As a result of our annual impairment review of goodwill for fiscal years 2022 and 2021, no indicators of impairment were identified. Information regarding our intangible assets is as follows:
|  | 2023 |  | 2022
March 31, |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Customer relationships |  | $ | 3,099,544 |  |  | $ | 818,810 |  |  | $ | 3,117,314 |  |  | $ | 539,845 |
Non-compete agreements |  | 23,486 |  |  | 21,535 |  |  | 23,571 |  |  | 12,392 |
Patents and technology |  | 534,539 |  |  | 252,809 |  |  | 518,714 |  |  | 211,822 |
Trademarks and tradenames |  | 468,729 |  |  | 111,158 |  |  | 470,919 |  |  | 74,455 |
Supplier relationships |  | 54,800 |  |  | 21,006 |  |  | 54,800 |  |  | 18,267 |
Total |  | $ | 4,181,098 |  |  | $ | 1,225,318 |  |  | $ | 4,185,318 |  |  | $ | 856,781 |
Certain trademarks and tradenames obtained as a result of business combinations are indefinite-lived assets. The approximate carrying value of these assets at March 31, 2023 and March 31, 2022 was $14,250. We evaluate our indefinite-lived intangible assets annually during the third quarter or when evidence of potential impairment exists. No impairment was recognized for fiscal years 2023, 2022 or 2021. Total amortization expense for intangible assets was $379,752, $368,698, and $86,512 for the years ended March 31, 2023, 2022, and 2021, respectively. Based upon the current amount of intangible assets subject to amortization, the amortization expense for each of the five succeeding fiscal years is estimated to be as follows:
|  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Estimated amortization expense |  | $ | 369,358 |  |  | $ | 363,499 |  |  | $ | 354,672 |  |  | $ | 348,506 |  |  | $ | 343,510 |
The estimated annual amortization expense presented in the preceding table has been calculated based upon March 31, 2023 currency exchange rates.

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