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GOODWILL | 6 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL | GOODWILL: Each quarter the Company considers whether indicators of impairment exist such that additional impairment testing may be necessary. During the quarter ended September 30, 2023, triggering events occurred which required the Company to test the recoverability of goodwill associated with its APAC reporting unit. The triggering event was the restructuring of operations in the APAC region. Accordingly, we tested goodwill for impairment and determined that the fair value of the APAC reporting unit had decreased, resulting in complete impairment of the goodwill amount of $2.9 million. In order to estimate the fair value of the APAC reporting unit, management utilized a discounted cash flow model, classified in level 3 in the fair value hierarchy, as well as considered market multiples of guideline public companies. Changes in goodwill for the six months ended September 30, 2023 were as follows (dollars in thousands):
|  | Total
Balance at March 31, 2023 |  | $ | 363,116 |
Impairment |  | (2,875) |
Change in foreign currency translation adjustment |  | (225) |
Balance at September 30, 2023 |  | $ | 360,016 |
Goodwill by geography as of September 30, 2023 was:
|  | Total
U.S. |  | $ | 360,016 |
APAC |  | — |
Balance at September 30, 2023 |  | $ | 360,016 |

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