Goodwill and Other Intangible Assets

6 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The Company conducts its impairment analysis of goodwill and indefinite life intangible assets annually on December 31 or more frequently if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. There have been no triggering events identified affecting the valuation of goodwill and indefinite life intangible assets during the three and six months ended September 30, 2022 and 2021.

The following table summarizes the activities in the Company’s goodwill balance (in thousands):


As of March 31, 2022	$	448,175

Acquisition	4,980
Effects of foreign currency translation	(3,263)
As of September 30, 2022	$	449,892

The Company's acquired intangible assets were as follows (in thousands):


	September 30, 2022						March 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademark and trade names	$	36,790	$	(24,628)	$	12,162	$	36,790	$	(22,295)	$	14,495
Developed technology	122,142		(89,775)		32,367		119,407		(83,540)		35,867
Customer contracts/relationships	71,110		(44,416)		26,694		71,110		(40,971)		30,139
In-process R&D	3,526		—		3,526		3,826		—		3,826
Effects of foreign currency translation	(1,598)		344		(1,254)		(634)		86		(548)
Total	$	231,970	$	(158,475)	$	73,495	$	230,499	$	(146,720)	$	83,779