Goodwill and Other Intangible Assets

6 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The Company conducts its impairment analysis of goodwill annually at December 31 and as necessary, if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. There have been no events or circumstances during the three months ended September 30, 2021 that have required the Company to perform an interim assessment of goodwill.

The following table summarizes the activities in the Company’s goodwill balance during the six months ended September 30, 2021 (in thousands):


As of March 31, 2021	$	429,604

Acquisition	20,721
Effects of foreign currency translation	(968)
As of September 30, 2021	$	449,357

On May 19, 2021, the Company made an immaterial technology acquisition for a total cash consideration of $25.6 million, including up to $10.0 million earn-out payable in cash upon the achievement of three technical development milestones required to be completed as of December 31, 2021, June 30, 2022, and June 30, 2023,

which was accounted for using the acquisition method. The Company retained 6% of the total consideration for the purpose of ensuring seller's representations and warranties.

The Company's acquired intangible assets subject to amortization were as follows (in thousands):


	September 30, 2021						March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademark and trade names	$	46,170	$	(28,347)	$	17,823	$	46,070	$	(25,153)	$	20,917
Developed technology	140,407		(98,352)		42,055		134,406		(90,450)		43,956
Customer contracts/relationships	91,017		(50,649)		40,368		91,010		(44,261)		46,749
In-process R&D	3,526		—		3,526		3,526		—		3,526
Effects of foreign currency translation	(287)		16		(271)		—		—		—
Total	$	280,833	$	(177,332)	$	103,501	$	275,012	$	(159,864)	$	115,148