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Goodwill and Acquired Intangible Assets
9 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Acquired Intangible Assets

Note 7 — Goodwill and Acquired Intangible Assets

During the nine months ended December 31, 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 nine months ended December 31, 2022, the decrease in the Company’s goodwill relating to its continuing operations 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 $91.7 million and $7.4 million for the three months ended December 31, 2023 and 2022, respectively, and $200.9 million and $22.3 million for the nine months ended December 31, 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 nine months ended December 31, 2023

 

$

200,904

 

 

 

 

 

Expected for the remainder of fiscal year 2024

 

$

91,395

 

Expected for fiscal year 2025

 

 

364,819

 

Expected for fiscal year 2026

 

 

364,667

 

Expected for fiscal year 2027

 

 

295,938

 

Expected for fiscal year 2028

 

 

285,005

 

Expected for fiscal year 2029

 

 

284,260

 

Thereafter

 

 

1,087,581

 

 

$

2,773,665