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GOODWILL & INTANGIBLE ASSETS
 12 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL & INTANGIBLE ASSETS GOODWILL & INTANGIBLE ASSETS
Goodwill
The Company has one reporting unit. Goodwill is tested for impairment at a reporting unit level at least annually, as of January 31, and on an interim basis if an event occurs or circumstances change (a "Triggering Event") that would indicate the fair value of the reporting unit is below its carrying value.
During fiscal year 2024, the Company recorded $217.3 million in goodwill impairment charges as a result of the sustained decrease in the Company's stock price and overall market capitalization. During the first quarter of fiscal year 2025, due to the continued decrease in the Company's stock price and overall market capitalization, along with other qualitative considerations including the continued impact from the conditions in the macroeconomic environment, it was determined a Triggering Event occurred, indicating goodwill may be impaired. Accordingly, the Company conducted a quantitative impairment test of its goodwill at June 30, 2024. The Company estimated the implied fair value of the reporting unit using a market approach. As a result of the quantitative impairment test performed during the first quarter of fiscal year 2025, the Company determined goodwill was impaired and recorded a goodwill impairment charge of $427.0 million during the three months ended June 30, 2024. The additional impairment charge recorded in the first quarter of fiscal year 2025 was primarily due to the continued decrease in the Company's stock price from March 31, 2024 to June 30, 2024, an increase in the Company's weighted-average cost of capital, and the refinement to the expected cost synergies that could be realized by a hypothetical buyer as a result of the voluntary separation program (VSP) implemented by the Company in the first quarter of fiscal year 2025, which impacted the company-specific control premium used to determine the fair value of the reporting unit under the market approach. At September 30, 2024, December 31, 2024, and March 31, 2025, the Company performed a Triggering Event assessment and concluded no events or circumstances occurred that indicated goodwill was further impaired.
During fiscal year 2025, the Company completed its annual goodwill impairment test at January 31, 2025, using the qualitative assessment, and the Company concluded that it was more likely than not that the fair value of the reporting unit exceeded its carrying value.
The Company will continue to monitor relevant facts and circumstances, including future changes in its stock price. The Company may be required to record additional goodwill impairment charges. While management cannot predict if or when additional goodwill impairments may occur, future goodwill impairments could have material adverse effects on the Company's results of operations and financial condition.
At March 31, 2025 and 2024, the carrying amounts of goodwill were $1.1 billion and $1.5 billion, respectively. The change in the carrying amount of goodwill for the fiscal year ended March 31, 2025 was due to the impairment of goodwill, and the impact of foreign currency translation adjustments related to asset balances that are recorded in currencies other than the U.S. Dollar.
The following table summarizes the changes in the carrying amount of goodwill for the fiscal years ended March 31, 2025 and 2024 as follows (in thousands):
Balance at March 31, 2023
$1,724,404 
    Goodwill impairment(217,260)
    Divestiture of a business(4,259)
    Foreign currency translation impact(65)
Balance at March 31, 2024
$1,502,820 
    Goodwill impairment(426,967)
    Foreign currency translation impact530 
Balance at March 31, 2025
$1,076,383 
Intangible Assets
The net carrying amounts of intangible assets were $258.7 million and $308.7 million at March 31, 2025 and 2024, respectively. Intangible assets acquired in a business combination are recorded under the acquisition method of accounting at their estimated fair values at the date of acquisition. The Company amortizes intangible assets over their estimated useful lives.
The Company reviews long-lived assets including tangible and definite-lived intangible assets for impairment when an event occurs that may indicate potential impairment. In conjunction with the goodwill impairment analysis performed at June 30, 2024, the Company conducted an impairment test of its long-lived assets at June 30, 2024. Based on this assessment, the Company concluded that the carrying values of the Company's long-lived assets were recoverable. At September 30, 2024, December 31, 2024, and March 31, 2025 the Company performed a Triggering Event assessment and concluded no events or circumstances occurred that indicated intangible assets may be impaired. However, if future events occur or if business conditions deteriorate, the Company may be required to record an impairment loss, and or accelerate the amortization of definite-live intangible assets in the future, which could be material to its results of operations and financial condition.
Intangible assets include the following amortizable intangible assets at March 31, 2025 (in thousands):
CostAccumulated
Amortization		Net
Developed technology$248,232 $(242,298)$5,934 
Customer relationships763,397 (518,995)244,402 
Distributor relationships and technology licenses5,097 (4,022)1,075 
Definite-lived trademark and trade name57,675 (50,562)7,113 
Core technology7,192 (7,192)— 
Capitalized software3,317 (3,317)— 
Other1,208 (1,042)166 
$1,086,118 $(827,428)$258,690 
Intangible assets include the following amortizable intangible assets at March 31, 2024 (in thousands):
CostAccumulated
Amortization		Net
Developed technology$248,385 $(238,470)$9,915 
Customer relationships763,943 (475,592)288,351 
Distributor relationships and technology licenses7,785 (7,463)322 
Definite-lived trademark and trade name57,699 (47,814)9,885 
Core technology7,192 (7,192)— 
Capitalized software3,317 (3,317)— 
Other1,208 (1,022)186 
$1,089,529 $(780,870)$308,659 
Amortization included as cost of product revenue consists of amortization of developed technology, and distributor relationships and technology licenses. Amortization included as operating expense consists of all other intangible assets. The following table provides a summary of amortization expense during the fiscal years ended March 31, 2025, 2024, and 2023 (in thousands).
Years Ended March 31,
202520242023
Amortization of intangible assets included as:
     Cost of product revenue4,515 7,642 10,542 
     Operating expense46,460 50,357 55,410 
$50,975 $57,999 $65,952 
The following is the expected future amortization expense at March 31, 2025 for the fiscal years ended March 31 (in thousands):
2026$46,717 
202743,864 
202840,907 
202931,516 
203028,598 
Thereafter67,088 
Total$258,690