Goodwill and Acquired Intangible Assets

3 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Note 5 — Goodwill and Acquired Intangible Assets

During the three months ended June 30, 2022 and 2021, the decrease in the Company’s goodwill primarily related to a foreign currency translation effect recorded within all three of the Company’s segments.

Other acquired intangible assets are amortized using the straight-line method over their estimated useful lives of two to 20 years (which approximates the economic pattern of benefit). Amortization expense related to other acquired intangible assets was $7.5 million and $5.9 million for the three months ended June 30, 2022 and 2021, respectively.

The expected amortization expense of amortizable acquired intangible assets may change due to the effects of foreign currency fluctuations as a result of international businesses acquired. The current and expected amortization expense for acquired intangible assets for each of the following periods is as follows:

	Amortization
	(In thousands)
For the three months ended June 30, 2022	$	7,523
Expected for the remainder of fiscal year 2023	$	22,557
Expected for fiscal year 2024		28,733
Expected for fiscal year 2025		26,701
Expected for fiscal year 2026		26,549
Expected for fiscal year 2027		26,549
Thereafter		91,098
	$	222,187