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GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Sep. 30, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
6.
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, 2022 (in thousands):

 
Six months ended September 30, 2022
  
   
Goodwill
    
Accumulated Impairment
Loss
    
Net Carrying
Amount
  
Beginning balance
  
$
135,216
    
$
(8,673
)
  
$
126,543
  
Acquisitions
    9,694       -       9,694  
Foreign currency translations
    
(330
)
    
-
      
(330
)
Ending balance
  
$
144,580
    
$
(8,673
)
  
$
135,907
  

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, 2022, relates to our technology segment, which we also determined to be one reporting unit. The carrying value of goodwill was $135.9 and $126.5 million as of September 30, 2022, and March 31, 2022, respectively. Our goodwill balance increased by $9.4 million over the six months ended September 30, 2022, due to $9.7 million in goodwill additions from our acquisition of Future Com, Ltd., offset by foreign currency translation of $0.3 million. Please refer to Note 15, “Business Combinations” for details of our acquisition.

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 prior year annual test as of October 1, 2021, 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, 2022, and March 31, 2022 (in thousands):

 
September 30, 2022
    
March 31, 2022
  
   
Gross
Carrying
Amount
    
Accumulated
Amortization
    
Net Carrying
Amount
    
Gross
Carrying
Amount
    
Accumulated
Amortization
    
Net Carrying
Amount
  
Purchased intangibles
  
$
85,218
    
$
(56,425
)
  
$
28,793
    
$
77,224
    
$
(52,087
)
  
$
25,137
  
Capitalized software development
    
10,516
      
(8,973
)
    
1,543
      
10,517
      
(8,404
)
    
2,113
  
Total
  
$
95,734
    
$
(65,398
)
  
$
30,336
    
$
87,741
    
$
(60,491
)
  
$
27,250
  

Purchased intangibles, consisting mainly of customer relationships intangibles, are generally amortized between 5 to 10 years. Capitalized software development is generally amortized over 5 years.

Total amortization expense for purchased intangibles was $2.5 million for the three months ended September 30, 2022, and $2.7 million for the three months ended September 30, 2021, and $4.7 million and $5.4 million for the six months ended September 30, 2022, and 2021, respectively.