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INTANGIBLE ASSETS AND GOODWILL - Note 4 | 12 Months Ended
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Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL - Note 4 | 4. INTANGIBLE ASSETS AND GOODWILL The carrying value of intangible assets consisted of the following (in thousands):
|  |  | March 31, 2018 |  |  | March 31, 2017
|  |  | Gross |  |  |  |  |  |  |  |  | Gross |  |  |  |  |  |
|  |  | Carrying |  |  | Accumulated |  |  | Net Carrying |  |  | Carrying |  |  | Accumulated |  |  | Net Carrying
|  |  | Amount |  |  | Amortization |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount
Technology |  | $ | 19,702 |  | $ | (10,535) |  | $ | 9,167 |  | $ | 18,685 |  | $ | (7,010) |  | $ | 11,675
Customer relationships |  |  | 9,776 |  |  | (7,366) |  |  | 2,410 |  |  | 9,419 |  |  | (6,187) |  |  | 3,232
Trade names/domains |  |  | 2,108 |  |  | (1,727) |  |  | 381 |  |  | 2,036 |  |  | - |  |  | 2,036
In-process research and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
development |  |  | 95 |  |  | (95) |  |  | - |  |  | 95 |  |  | - |  |  | 95
Total acquired identifiable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
intangible assets |  | $ | 31,681 |  | $ | (19,723) |  | $ | 11,958 |  | $ | 30,235 |  | $ | (13,197) |  | $ | 17,038
At March 31, 2018, annual amortization of definite lived intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following (in thousands):
|  |  | Amount
2019 |  | $ | 4,002
2020 |  |  | 3,171
2021 |  |  | 2,790
2022 |  |  | 1,766
2023 |  |  | 229
Total |  | $ | 11,958
Impairment of Long-Lived Assets and Goodwill During the third quarter of fiscal year 2018, the Company changed its product and marketing strategy for the use of DXI's technology and re-assessed DXI's profitability outlook. This triggered the requirement that the Company test the recorded goodwill for impairment in accordance with ASC 350-20-35, as amended by ASU 2017-04 (see Footnote 1, Recently Adopted Accounting Pronouncements). First, the Company estimated the fair value of its three reporting units using the market approach. Under the market approach, the Company utilized the market capitalization of its publicly-traded shares and comparable company information to determine revenue multiples which were used to determine the fair value of the reporting unit. Based on this approach, the Company determined that there was an indication of impairment only for its DXI reporting unit, which is within the Company's Europe reporting segment, as the carrying value including goodwill exceeded the estimated fair value. As largely independent cash flows could not be attributed to any assets individually the Company evaluated DXI's assets and liabilities as one asset group. Then the Company estimated the fair value of DXI's asset group using discounted cash flow methods to determine the implied fair value of goodwill. The difference between this implied fair value of the goodwill and its carrying value was recorded as impairment. The outcome of the analysis resulted in a non-cash expense for impairment of property and equipment, intangible assets and goodwill of $0.3 million, $1.2 million and $8.0 million, respectively, which was recorded during the third quarter of fiscal year 2018 as a separate line item in the Company's Consolidated Statements of Operations. The following table provides a summary of the changes in the carrying amounts of goodwill by reporting segment (in thousands):
|  |  | Americas |  |  | Europe |  |  | Total
Balance at March 31, 2016 |  | $ | 25,729 |  | $ | 21,691 |  | $ | 47,420
Additions due to acquisitions |  |  | 1,580 |  |  | - |  |  | 1,580
Foreign currency translation |  |  | - |  |  | (2,864) |  |  | (2,864)
Balance at March 31, 2017 |  |  | 27,309 |  |  | 18,827 |  |  | 46,136
Impairment loss |  |  | - |  |  | (8,036) |  |  | (8,036)
Foreign currency translation |  |  | - |  |  | 1,954 |  |  | 1,954
Balance at March 31, 2018 |  | $ | 27,309 |  | $ | 12,745 |  | $ | 40,054

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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