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Goodwill and Other Intangible Assets | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets 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. The Company conducted its annual impairment analysis of goodwill as of December 31, 2023 by performing a qualitative assessment and concluded that it was more likely than not that the fair value of its reporting unit exceeded its carrying amount. In assessing the qualitative factors, the Company considered the impact of change in industry and competitive environment, the Company's market capitalization and budgeted-to-actual revenue performance for the twelve months ended December 31, 2023. There have bee n no trig gering events identified affecting the valuation of goodwill subsequent to the annual impairment test. The following table summarizes the activities in the Company's goodwill balance (in thousands):
|  | Years Ended March 31,
|  | 2024 |  | 2023
Beginning of the period |  | $ | 454,610 |  |  | $ | 448,175 |
Acquisitions |  | 8,156 |  |  | 7,976 |
Effects of foreign currency translation |  | (788) |  |  | (1,541) |
End of the period |  | $ | 461,978 |  |  | $ | 454,610 |
The Company's acquired intangible assets were as follows (in thousands):
|  | March 31,
|  | 2024 |  | 2023
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trademarks and trade names |  | $ | 32,390 |  |  | $ | (25,739) |  |  | $ | 6,651 |  |  | $ | 36,790 |  |  | $ | (26,774) |  |  | $ | 10,016 |
Developed technology |  | 107,421 |  |  | (86,855) |  |  | 20,566 |  |  | 121,730 |  |  | (94,792) |  |  | 26,938 |
Customer contracts/relationships |  | 69,087 |  |  | (51,061) |  |  | 18,026 |  |  | 71,110 |  |  | (47,688) |  |  | 23,422 |
In-process R&D |  | — |  |  | — |  |  | — |  |  | 3,526 |  |  | — |  |  | 3,526 |
Effects of foreign currency translation |  | (1,019) |  |  | 379 |  |  | (640) |  |  | (1,021) |  |  | 292 |  |  | (729) |
Total |  | $ | 207,879 |  |  | $ | (163,276) |  |  | $ | 44,603 |  |  | $ | 232,135 |  |  | $ | (168,962) |  |  | $ | 63,173 |
For fiscal years 2024, 2023 and 2022, amortization expense for intangible assets was $21.7 million, $24.4 million and $30.2 million, respectively. The Company expects that annual amortization expense for fiscal years 2025, 2026, 2027, 2028 and 2029 will be $19.8 million, $12.9 million, $5.7 million, $4.1 million and $1.8 million, respectively, and $0.3 million thereafter.

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