Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.23.2
Goodwill and Other Intangible Assets
 3 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The carrying amount of goodwill by operating segment as of June 30, 2023, is as follows:
  United States and Latin America Canada Europe, Middle East and Africa Asia-Pacific Total
Balance as of March 31, 2023 $ 81,345  $ 112,945  $ 18,679  $ 6,643  $ 219,612 
Foreign currency translation impact —  2,500  13  (217) 2,296 
Balance as of June 30, 2023 $ 81,345  $ 115,445  $ 18,692  $ 6,426  $ 221,908 
Goodwill is tested for impairment on an annual basis and between annual tests if indicators of potential impairment exist. We perform a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If required, we also perform a quantitative analysis using the income approach, based on discounted future cash flows, which are derived from internal forecasts and economic expectations, and the market approach, which is based on market multiples of guideline public companies. The most significant inputs in the Company's quantitative goodwill impairment tests are projected financial information, the weighted average cost of capital and market multiples for similar transactions. Our annual impairment test is performed during the fourth quarter of our fiscal year.
Our total intangible assets consisted of the following:
Gross Carrying Amount at June 30, 2023 Accumulated Amortization Net Carrying Amount at June 30, 2023 Gross Carrying Amount at March 31, 2023 Accumulated Amortization Net Carrying Amount at March 31, 2023
Products $ 62,922  $ (35,656) $ 27,266  $ 61,560  $ (33,344) $ 28,216 
Trademarks 47,705  (2,175) 45,530  47,427  (2,031) 45,396 
Developed technology 14,926  (6,764) 8,162  14,862  (6,520) 8,342 
Customer relationships 114,122  (103,880) 10,242  113,259  (102,743) 10,516 
Certifications 443  —  443  441  —  441 
Other 2,277  (1,275) 1,002  1,280  (221) 1,059 
Total $ 242,395  $ (149,750) $ 92,645  $ 238,829  $ (144,859) $ 93,970