The carrying amount of goodwill as of March 31, 2022 and 2021 was $76.8 million and $78.6 million, respectively, and has been recorded in connection with the Company’s acquisition of Impella Cardiosystems AG, in May 2005, ECP in July 2014 and Breethe in April 2020. The carrying value of goodwill and the change in the balance for fiscal years ended March 31, 2022 and 2021 are as follows:


	Fiscal Years Ended March 31,
	2022			2021
	(in thousands)
Beginning balance	$	78,568		$	31,969
Breethe acquisition (Note 3)		—			44,485
Foreign currency translation		(1,782	)		2,114
Ending balance	$	76,786		$	78,568

The Company evaluates goodwill at least annually on October 31, as well as whenever events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company has no accumulated impairment losses on goodwill.

Other intangible assets consist of the following:


	March 31, 2022
	Weighted Average Amortization Period (in years)	Cost		Accumulated Amortization			Net Carrying Value
		(in thousands)
Finite-lived intangible assets
Developed technology	13.6	$	27,000	$	(2,550	)	$	24,450

Indefinite-lived intangible assets
In-process research and development			15,068		—			15,068
Total		$	42,068	$	(2,550	)	$	39,518


	March 31, 2021
	Weighted Average Amortization Period (in years)	Cost		Accumulated Amortization			Net Carrying Value
		(in thousands)
Finite-lived intangible assets
Developed technology	14.6	$	27,000	$	(750	)	$	26,250

Indefinite-lived intangible assets
In-process research and development			15,900		—			15,900
Total		$	42,900	$	(750	)	$	42,150

The Company’s finite-lived intangible asset represents developed technology associated with the estimated fair value of the Breethe OXY-1 System. The estimated fair value of developed technology was determined using a probability-weighted income approach, which discounts expected future cash flows to present value. The projected cash flow estimates for the Breethe OXY-1 System were based on certain key assumptions, including estimates of future revenue and expenses, the stage of development of the technology at the acquisition date and the time and resources needed to complete development. During the year ended March 31, 2021, the Company reclassified the in-process research and development (“IPR&D”) asset to developed technology upon receiving U.S. Food and Drug Administration or FDA 510(k) clearance of the Breethe OXY-1 System and began amortizing the intangible asset on a straight-line basis over an estimated useful life of 15 years.

The Company’s IPR&D assets represent the estimated fair value of the Impella ECPTM related to the acquisition of ECP and AIS, in July 2014. The estimated fair value of the IPR&D assets at the acquisition date was determined using a probability-weighted income approach, which discounts expected future cash flows to present value. The projected cash flow estimates for the future Impella ECPTM expandable catheter pump were based on certain key assumptions, including estimates of future revenue and expenses, taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development.

The Company evaluates the other intangible assets, net for impairment at least annually on October 31, as well as whenever events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company has no accumulated impairment losses on other intangible assets. The change in the IPR&D balance for the fiscal years ended March 31, 2022 and 2021 was related to foreign currency translation.