GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 2021

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

5. GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL

The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2021 (in thousands):

	Nine months ended December 31, 2021
	Goodwill			Accumulated Impairment Loss			Net Carrying Amount
Beginning balance	$	135,318		$	(8,673	)	$	126,645
Foreign currency translations		(41	)		-			(41	)
Ending balance	$	135,277		$	(8,673	)	$	126,604

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 December 31, 2021, relates to our technology segment, which we also determined to be one reporting unit. The change in our goodwill balance during the nine months ended December 31, 2021, is due solely to foreign currency translation.

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 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 December 31, 2021, and March 31, 2021 (in thousands):

	December 31, 2021							March 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships & other intangibles	$	77,290	$	(49,929	)	$	27,361	$	77,335	$	(42,115	)	$	35,220
Capitalized software development		10,515		(8,098	)		2,417		10,553		(7,159	)		3,394
Total	$	87,805	$	(58,027	)	$	29,778	$	87,888	$	(49,274	)	$	38,614

Customer relationships and other intangibles are generally amortized between 5 to 10 years. Capitalized software development is generally amortized over 5 years.

Total amortization expense for customer relationships and other intangible assets was $2.8 million and $2.3 million for the three months ended December 31, 2021, and December 31, 2020, respectively, and $8.8 million and $7.3 million for the nine months ended December 31, 2021, and December 31, 2020, respectively.