Goodwill

The guidance under ASC

805

provides for the recognition of goodwill on the Acquisition Date measured as the excess of the aggregate consideration transferred over the net of the Acquisition Date amounts of net assets acquired and liabilities assumed. The Company's goodwill balance relates to the NEPSI Acquisition in fiscal

2020

and Infinia Technology Corporation in fiscal

2017

and is reported in the Grid business segment.

Goodwill represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets when accounted for using the purchase method of accounting. Goodwill is

not

amortized but reviewed for impairment. Goodwill is reviewed annually on

February

28th

and whenever events or changes in circumstances indicate that the carrying value of the goodwill might

not

be recoverable.

The following table provides a roll forward of the changes in our Grid business segment goodwill balance:

	Goodwill
March 31, 2020	$	1,719
NEPSI Acquisition		32,915
March 31, 2021	$	34,634

There was

change in goodwill during the year ended

March 31, 2020.

The Company performed its annual assessment of goodwill on

February 28, 2021

and noted

triggering events from the analysis date to

March 31, 2021

and determined that there was

impairment to goodwill. Additionally,

impairment resulted from the assessment performed in the fiscal year ended

March 31, 2020