Property and Equipment, Net

12 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

4. Property and Equipment, Net

Property and equipment at March 31, 2022 and 2021 is as follows:


	Year ended March 31,
(In thousands)		2022			2021
Furniture and equipment	$	14,632		$	14,899
Software		16,338			16,891
Leasehold improvements		7,123			7,097
Project expenditures not yet in use		17			210
		38,110			39,097
Accumulated depreciation and amortization		(31,765	)		(30,308	)
Property and equipment, net	$	6,345		$	8,789

Total depreciation expense on property and equipment was $2.2 million, $2.8 million, and $2.6 million during fiscal 2022, 2021 and 2020, respectively.

The Company capitalizes internal-use software, including software used exclusively in providing services or that is only made available to customers as a software service, as property and equipment under ASC 350-40, Internal-Use Software. Total amortization expense on capitalized internal-use software was $1.3 million, $2.0 million and $2.5 million during fiscal 2022, 2021, and 2020, respectively.

Assets under financing leases are included in property and equipment categories above and further disclosed with Note 6. Leases.