Goodwill and Acquired Intangible Assets

3 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Note 7 — Goodwill and Acquired Intangible Assets

During the three months ended June 30, 2023, the increase in the Company’s goodwill primarily related to the Inmarsat Acquisition (see Note 4 — Acquisition — for more information) and foreign currency translation effect recorded within all three of the Company's segments. During the three months ended June 30, 2022, 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 $27.8 million and $7.5 million for the three months ended June 30, 2023 and 2022, 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, 2023	$	27,811
Expected for the remainder of fiscal year 2024	$	204,988
Expected for fiscal year 2025		271,553
Expected for fiscal year 2026		271,401
Expected for fiscal year 2027		271,401
Expected for fiscal year 2028		271,401
Thereafter		1,255,386
	$	2,546,130