GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Jun. 30, 2022

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 three months ended June 30, 2022 (in thousands):

	Three months ended June 30, 2022
	Goodwill			Accumulated Impairment Loss			Net Carrying Amount
Beginning balance	$	135,216		$	(8,673	)	$	126,543
Foreign currency translations		(165	)		-			(165	)
Ending balance	$	135,051		$	(8,673	)	$	126,378

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 June 30, 2022, relates to our technology segment, which we also determined to be one reporting unit. The change in our goodwill balance during the three months ended June 30, 2022, 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 June 30, 2022, and March 31, 2022 (in thousands):

	June 30, 2022							March 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships & other intangibles	$	77,041	$	(54,101	)	$	22,940	$	77,224	$	(52,087	)	$	25,137
Capitalized software development		10,517		(8,689	)		1,828		10,517		(8,404	)		2,113
Total	$	87,558	$	(62,790	)	$	24,768	$	87,741	$	(60,491	)	$	27,250

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 $2.2 million and $2.7 million for the three months ended June 30, 2022, and June 30, 2021, respectively.