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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Jun. 30, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS |
6. | GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL The following table summarizes the changes in the carrying amount of goodwill for the three months ended June 30, 2024 (in thousands):
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Total |
Balance, March 31, 2024 (1) |  | $ | 129,108 |  |  | $ | 22,497 |  |  | $ | 9,898 |  |  | $ | 161,503 |
Acquisitions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign currency translations |  |  | 4 |  |  |  | 1 |  |  |  | - |  |  |  | 5 |
Balance, June 30, 2024 (1) |  | $ | 129,112 |  |  | $ | 22,498 |  |  | $ | 9,898 |  |  | $ | 161,508 |
(1) | Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that preceded our current segment organization.
Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. The only activity in our goodwill balance over the three months ended June 30, 2024 was foreign currency translation adjustments. We test goodwill for impairment on an annual basis, as of the first day of our third fiscal quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. In our annual test as of October 1, 2023, we performed a qualitative assessment of goodwill and concluded that, more likely than not, the fair value of our product, professional services, and managed services reporting units continued to exceed their carrying value. Our conclusions would not be impacted by a ten percent change in our estimate of the fair value of the reporting unit. OTHER INTANGIBLE ASSETS Our other intangible assets consist of the following on June 30, 2024, and March 31, 2024 (in thousands):
|  | June 30, 2024 |  |  | March 31, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Purchased intangibles |  | $ | 120,485 |  |  | $ | (80,350 | ) |  | $ | 40,135 |  |  | $ | 120,480 |  |  | $ | (76,595 | ) |  | $ | 43,885 |
Capitalized software development |  |  | 10,159 |  |  |  | (10,002 | ) |  |  | 157 |  |  |  | 10,516 |  |  |  | (10,308 | ) |  |  | 208 |
Total |  | $ | 130,644 |  |  | $ | (90,352 | ) |  | $ | 40,292 |  |  | $ | 130,996 |  |  | $ | (86,903 | ) |  | $ | 44,093 |
Purchased intangibles, consisting mainly of customer relationships, are generally amortized between 5 to 10 years. Capitalized software development is generally amortized over 5 years. Total amortization expense for purchased intangibles was $3.8 million and $3.5 million for the three months ended June 30, 2024, and June 30, 2023, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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