GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill was $2,021.9 million and $1,581.2 million as of March 31, 2022 and March 31, 2021, respectively. The increase in the carrying amount of goodwill was attributable to the Company's acquisitions of Liberty and Tracepoint, and the majority of goodwill is expected to be deductible for tax purposes. Approximately $10.0 million of goodwill was allocated to the assets held for sale related to the Company's divestiture of its MENA business noted above.The Company performed an annual impairment test of the goodwill as of January 1, 2022 and 2021, and did not identify any impairment.

Intangible Assets

Intangible assets consisted of the following:


	March 31, 2022						March 31, 2021
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value

Amortizable intangible assets:
Programs and contract assets, channel relationships, and other amortizable intangible assets (1)	$	483,294	$	101,584	$	381,710	$	82,400	$	50,503	$	31,897
Software	119,398		44,626		74,772		114,972		29,941		85,031
Total amortizable intangible assets	$	602,692	$	146,210	$	456,482	$	197,372	$	80,444	$	116,928
Unamortizable intangible assets:
Trade name	$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200
Total	$	792,892	$	146,210	$	646,682	$	387,572	$	80,444	$	307,128

(1)The increase in the carrying amount of programs and contracts, channel relationships, and other amortizable intangible assets was attributable to the Company's acquisitions of Liberty and Tracepoint.

Programs and contract assets, channel relationships, and other amortizable intangible assets are generally amortized on an accelerated basis over periods ranging from 2 years to 12 years, and those related to software are generally amortized on a straight line basis over periods ranging from 1 years to 5 years.

The Company performed an annual impairment test of the trade name as of January 1, 2022 and 2021, and did not identify any impairment.

Amortization expense for fiscal 2022, 2021, and 2020 was $76.2 million, $19.3 million, and $22.3 million, respectively.

The following table summarizes the estimated annual amortization expense for future periods, which does not reflect amortization expense for certain intangible assets that are not yet placed in service:


For the Fiscal Year Ended March 31,
2023	$	85,776
2024	71,149
2025	60,811
2026	53,552
2027	43,585
Thereafter	141,609
Total estimated amortization expense	$	456,482