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Capitalized Software Costs
12 Months Ended
Mar. 31, 2021
Research And Development [Abstract]  
Capitalized Software Costs

10. Capitalized Software Costs

Our capitalized software costs are summarized as follows:

 

 

 

March 31, 2021

 

 

March 31, 2020

 

Gross carrying amount

 

$

96,908

 

 

$

75,212

 

Accumulated amortization

 

 

(55,434

)

 

 

(38,208

)

Net capitalized software costs

 

$

41,474

 

 

$

37,004

 

 

During the year ended March 31, 2020, we recorded $3,198 of impairments related to the write down of previously capitalized software development costs for certain technology that will no longer be utilized in any future software solutions. During the year ended March 31, 2019, we retired $13,453 of fully amortized capitalized software costs that are no longer being utilized by our client base. Amortization expense related to capitalized software costs was $20,108, $17,085, and $11,338 for the years ended March 31, 2021, 2020, and 2019, respectively, and is recorded as cost of revenue in the consolidated statements of net income and comprehensive income.

The following table presents the remaining estimated amortization of capitalized software costs as of March 31, 2021. The estimated amortization is comprised of (i) amortization of released products and (ii) the expected amortization for products that are not yet available for sale based on their estimated economic lives and projected general release dates.

 

For the year ended March 31,

 

 

 

 

2022

 

$

24,200

 

2023

 

 

11,800

 

2024

 

 

5,400

 

2025

 

 

74

 

Total

 

$

41,474