XML 23 R12.htm IDEA: XBRL DOCUMENT v3.21.2
GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Sep. 30, 2021
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
5.
GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL

The following table summarizes the changes in the carrying amount of goodwill for the six months ended September 30, 2021 (in thousands):

  
Six months ended September 30, 2021
  
   
Goodwill
    
Accumulated
Impairment
Loss
    
Net
Carrying
Amount
  
Beginning balance
  
$
135,318
    
$
(8,673
)
  
$
126,645
  
Foreign currency translations
    
(49
)
    
-
      
(49
)
Ending balance
  
$
135,269
    
$
(8,673
)
  
$
126,596
  

Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. Our entire balance as of September 30, 2021, relates to our technology segment, which we also determined to be one reporting unit. The change in our goodwill balance during the six months ended September 30, 2021, is due solely to foreign currency translation.

We test goodwill for impairment on an annual basis, as of the first day of our third fiscal quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. In our annual test as of October 1, 2020, we performed a qualitative assessment of goodwill and concluded that, more likely than not, the fair value of our technology reporting unit continued to substantially exceed its carrying value.

OTHER INTANGIBLE ASSETS

 
Our other intangible assets consist of the following on September 30, 2021, and March 31, 2021 (in thousands):
 

  
September 30, 2021
    
March 31, 2021
  
   
Gross
Carrying
Amount
    
Accumulated
Amortization
    
Net
Carrying
Amount
    
Gross
Carrying
Amount
    
Accumulated
Amortization
    
Net
Carrying
Amount
  
Customer relationships & other intangibles
  
$
77,281
    
$
(47,424
)
  
$
29,857
    
$
77,335
    
$
(42,115
)
  
$
35,220
  
Capitalized software development
    
10,491
      
(7,784
)
    
2,707
      
10,553
      
(7,159
)
    
3,394
  
Total
  
$
87,772
    
$
(55,208
)
  
$
32,564
    
$
87,888
    
$
(49,274
)
  
$
38,614
  

Customer relationships and other intangibles are generally amortized between 5 to 10 years. Capitalized software development is generally amortized over 5 years.

Total amortization expense for customer relationships and other intangible assets was $3.0 million and $2.5 million for the three months ended September 30, 2021, and September 30, 2020, respectively, and $6.0 million and $5.0 million for the six months ended September 30, 2021, and 2020, respectively.