Goodwill and Acquired Intangible Assets

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4 — Goodwill and Acquired Intangible Assets

During fiscal year 2022, the increase in the Company’s goodwill primarily related to the acquisitions of the remaining 51% interest in EBI and of RigNet on April 30, 2021 (see Note 16 — Acquisitions for more information), partially offset by foreign currency translation effects recorded within all three of the Company’s segments. During fiscal year 2021, the increase in the Company’s goodwill related to the insignificant amount of the effects of foreign currency translation recorded within all three of the Company’s segments.

Other acquired intangible assets are amortized using the straight-line method over their estimated useful lives of two to 20 years (which approximates the economic pattern of benefit). Amortization expense related to other acquired intangible assets was $28.7 million, $5.5 million and $7.6 million for the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

The expected amortization expense of amortizable acquired intangible assets may change due to the effects of foreign currency fluctuations as a result of international businesses acquired. Expected amortization expense for acquired intangible assets for each of the following periods is as follows:


	Amortization
	(In thousands)
Expected for fiscal year 2023	$	31,383
Expected for fiscal year 2024		30,002
Expected for fiscal year 2025		27,880
Expected for fiscal year 2026		26,366
Expected for fiscal year 2027		25,805
Thereafter		94,607
	$	236,043

Other acquired intangible assets and the related accumulated amortization as of March 31, 2022 and 2021 is as follows:


			As of March 31, 2022							As of March 31, 2021
	Weighted Average Useful Life		Total		Accumulated Amortization			Net Book Value		Total		Accumulated Amortization			Net Book Value
	(In years)		(In thousands)
Technology		7	$	154,624	$	(71,582	)	$	83,042	$	78,185	$	(71,549	)	$	6,636
Contracts and customer relationships		10		164,635		(53,250	)		111,385		55,161		(52,229	)		2,932
Satellite co-location rights		9		8,600		(8,600	)		—		8,600		(8,600	)		—
Trade name		7		32,463		(9,097	)		23,366		5,940		(5,940	)		—
Other		11		22,263		(4,013	)		18,250		3,663		(3,663	)		—
Total other acquired intangible assets		9	$	382,585	$	(146,542	)	$	236,043	$	151,549	$	(141,981	)	$	9,568

In fiscal years 2022 and 2021, the gross amount and accumulated amortization for acquired identifiable intangible assets were reduced by the retirement of fully amortized assets that were no longer in use.