Goodwill and Other Intangible Assets

6 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company conducts its impairment analysis of goodwill annually at 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 intangible assets during the three and six months ended September 30, 2023 and 2022.

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


As of March 31, 2023	$	454,610

Acquisition	8,117
Effects of foreign currency translation	(1,326)
As of September 30, 2023	$	461,401

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


	September 30, 2023						March 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademarks and trade names	$	35,290	$	(27,172)	$	8,118	$	36,790	$	(26,774)	$	10,016
Developed technology	115,221		(89,742)		25,479		121,730		(94,792)		26,938
Customer contracts/relationships	71,587		(49,768)		21,819		71,110		(47,688)		23,422
In-process R&D	3,526		—		3,526		3,526		—		3,526
Effects of foreign currency translation	(1,273)		412		(861)		(1,021)		292		(729)
Total	$	224,351	$	(166,270)	$	58,081	$	232,135	$	(168,962)	$	63,173