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Intangible Assets, net | 9 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, net | Intangible Assets, net A reconciliation of the activity affecting intangible assets, net is as follows:
(In thousands) | Indefinite- Lived Trademarks |  | Finite-Lived Trademarks and Customer Relationships |  | Totals
Gross Carrying Amounts |  |  |  |  |
Balance — March 31, 2023 | $ | 2,168,902 |  |  | $ | 411,118 |  |  | $ | 2,580,020 |
Effects of foreign currency exchange rates | 1,223 |  |  | 334 |  |  | 1,557 |
Balance — December 31, 2023 | $ | 2,170,125 |  |  | $ | 411,452 |  |  | $ | 2,581,577 |
Accumulated Amortization |  |  |  |  |
Balance — March 31, 2023 | $ | — |  |  | $ | 238,127 |  |  | $ | 238,127 |
Additions | — |  |  | 14,842 |  |  | 14,842 |
Effects of foreign currency exchange rates | — |  |  | 79 |  |  | 79 |
Balance — December 31, 2023 | $ | — |  |  | $ | 253,048 |  |  | $ | 253,048 |
Intangible assets, net - December 31, 2023 | $ | 2,170,125 |  |  | $ | 158,404 |  |  | $ | 2,328,529 |
Amortization expense was $4.9 million and $14.8 million for the three and nine months ended December 31, 2023, respectively, and $5.6 million and $16.9 million for the three and nine months ended December 31, 2022, respectively. Finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 25 years, and the estimated amortization expense for each of the five succeeding years and the periods thereafter is as follows (in thousands):
(In thousands) |
Year Ending March 31, | Amount
2024 (remaining three months ended March 31, 2024) | $ | 4,947 |
2025 | 18,115 |
2026 | 16,165 |
2027 | 14,574 |
2028 | 12,237 |
Thereafter | 92,366 |
| $ | 158,404 |
The date of our annual impairment review was February 28, 2023, and we recorded impairment charges to intangible assets of $321.4 million in our March 31, 2023 financial statements. The assumptions subject to significant uncertainties in the impairment analysis include the discount rate utilized in the analysis, as well as future sales, gross margins, and advertising and marketing expenses. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. Additionally, should the related fair values of intangible assets be adversely affected as a result of declining sales or margins caused by competition, changing consumer needs or preferences, technological advances, changes in advertising and marketing expenses, or the potential impacts of supply chain constraints, labor shortages, or inflation, we may be required to record impairment charges in the future. As of December 31, 2023, no events have occurred that would indicate potential impairment of intangible assets.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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