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Goodwill and Intangible Assets
 9 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 5 — Goodwill and Intangible Assets

 

Goodwill

 

The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the nine months ended December 31, 2019 (in thousands):

 

   Goodwill 
Balance as of March 31, 2019  $9,672 
Acquisitions   - 
Balance as of December 31, 2019  $9,672 

 

Indefinite-Lived Intangible Assets

 

The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company's reportable segment for the nine months ended December 31, 2019 (in thousands):

 

   Tradenames 
Balance as of March 31, 2019  $4,637 
Acquisitions   - 
Impairment losses   - 
Balance as of December 31, 2019  $4,637 

 

Finite-Lived Intangible Assets

 

The Company's finite-lived intangible assets were as follows as of December 31, 2019 (in thousands):

 

   Gross Carrying Value   Accumulated Amortization   Net Carrying Value 
Software  $19,280   $7,712   $11,568 
Intellectual property (patents)   5,366    715    4,651 
Customer relationships   6,570    4,997    1,573 
Domain names   29    11    18 
Total  $31,245   $13,435   $17,810 

 

The Company's finite-lived intangible assets were as follows as of March 31, 2019 (in thousands):

 

   Gross Carrying Value   Accumulated Amortization   Net Carrying Value 
Software  $19,280   $4,819   $14,461 
Intellectual property (patents)   5,366    447    4,919 
Customer relationships   6,570    3,665    2,905 
Domain names   29    8    21 
Total  $31,245   $8,939   $22,306 

 

The Company's amortization expense on its finite-lived intangible assets was $1.4 million and $(0.1) million for the three months ended December 31, 2019 and 2018, respectively, and was $4.5 million and $4.7 million for the nine months ended December 31, 2019 and 2018, respectively.

  

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2020 and future fiscal years as follows (in thousands):

 

For Years Ending March 31,    
2020 (remaining three months)  $1,187 
2021   4,744 
2022   4,744 
2023   3,648 
2024   358 
Thereafter   3,129 
   $17,810