XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.24.3

GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
--- | ---
Sep. 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 six months ended September 30, 2024 (in thousands):
|  |  |  |  | Professional |  |  | Managed |  |  |  |
|  | Product |  |  | Services |  |  | Services |  |  | Total |
Balance, March 31, 2024 (1) |  | $ | 129,108 |  |  | $ | 22,497 |  |  | $ | 9,898 |  |  | $ | 161,503 |
Acquisitions |  |  | 30 |  |  |  | 41,580 |  |  |  | - |  |  |  | 41,610 |
Foreign currency translations |  |  | 94 |  |  |  | 17 |  |  |  | 9 |  |  |  | 120 |
Balance, September 30, 2024 (1) |  | $ | 129,232 |  |  | $ | 64,094 |  |  | $ | 9,907 |  |  | $ | 203,233 |
(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. We added $41.6 million in goodwill from our acquisition of Bailiwick Services, LLC (“Bailiwick”) on August 19, 2024. Please refer to Note 15, “Business Combinations” for details of the Bailiwick acquisition. 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. OTHER INTANGIBLE ASSETS Our other intangible assets consist of purchased intangible assets and capitalized software development. The following table provides the composition of our purchased intangible assets on September 30, 2024, and March 31, 2024 (in thousands):
|  | September 30, 2024 |  |  | March 31, 2024 |
|  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
|  | Amount |  |  | Amortization |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount |
Customer relationships |  | $ | 167,515 |  |  | $ | (82,054 | ) |  | $ | 85,461 |  |  | $ | 117,682 |  |  | $ | (73,870 | ) |  | $ | 43,812 |
Trade name and other |  |  | 11,474 |  |  |  | (2,873 | ) |  |  | 8,601 |  |  |  | 2,798 |  |  |  | (2,725 | ) |  |  | 73 |
Total |  | $ | 178,989 |  |  | $ | (84,927 | ) |  | $ | 94,062 |  |  | $ | 120,480 |  |  | $ | (76,595 | ) |  | $ | 43,885 |
Our customer relationships, trade names and other purchased intangibles are generally amortized between 5 to 10 years. Total amortization expense for purchased intangibles was $4.4 million and $4.0 million for the three months ended September 30, 2024, and 2023, respectively, and $8.2 million and $7.5 million for the six months ended September 30, 2024, and 2023, respectively. Our capitalized software development had a carrying value of $0.1 million and $0.2 million on September 30, 2024, and March 31, 2024, respectively.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration