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GOODWILL | 12 Months Ended
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Mar. 31, 2024
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 that 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 fiscal years ended March 31, 2024 and 2023 were as follows (dollars in thousands):
|  | Total
Balance at March 31, 2022 |  | $ | 363,845 |
Purchase price accounting adjustment related to acquisition of Diablo |  | (205) |
Change in foreign currency translation adjustment |  | (524) |
Balance at March 31, 2023 |  | $ | 363,116 |
Impairment |  | (2,875) |
Acquisition of Habu (see Note 5) |  | 141,641 |
Change in foreign currency translation adjustment |  | (126) |
Balance at March 31, 2024 |  | $ | 501,756 |
Goodwill by geography as of March 31, 2024 was:
|  | Total
U.S. |  | $ | 501,756 |

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