Schedule of Changes in Carrying Amount of Goodwill |
The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2022 as follows (in thousands): | | | | | | Balance at March 31, 2022 | $ | 1,723,156 | | | | | | | | | | | | | | | | | | Foreign currency translation impact | 2,573 | | Balance at December 31, 2022 | $ | 1,725,729 | |
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Schedule of Intangible Assets |
Intangible assets include the following amortizable intangible assets at December 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Estimated Useful Life in Years | | Cost | | Accumulated Amortization | | Net | Developed technology | 3 - 13 years | | $ | 249,470 | | | $ | (230,700) | | | $ | 18,770 | | Customer relationships | 8 - 18 years | | 766,635 | | | (420,678) | | | 345,957 | | Distributor relationships and technology licenses | 1 - 6 years | | 11,521 | | | (9,803) | | | 1,718 | | Definite-lived trademark and trade name | 2 - 9 years | | 57,627 | | | (42,026) | | | 15,601 | | Core technology | 10 years | | 7,192 | | | (7,192) | | | — | | | | | | | | | | Non-compete agreements | 3 years | | 292 | | | (292) | | | — | | | | | | | | | | | | | | | | | | Capitalized software | 3 years | | 3,317 | | | (3,317) | | | — | | | | | | | | | | Other | 1 - 20 years | | 1,208 | | | (997) | | | 211 | | | | | $ | 1,097,262 | | | $ | (715,005) | | | $ | 382,257 | |
Intangible assets include the following amortizable intangible assets at March 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Estimated Useful Life in Years | | Cost | | Accumulated Amortization | | Net | Developed technology | 3 - 13 years | | $ | 250,247 | | | $ | (224,426) | | | $ | 25,821 | | Customer relationships | 8 - 18 years | | 769,404 | | | (384,347) | | | 385,057 | | Distributor relationships and technology licenses | 1 - 6 years | | 11,408 | | | (8,896) | | | 2,512 | | Definite-lived trademark and trade name | 2 - 9 years | | 57,748 | | | (37,944) | | | 19,804 | | Core technology | 10 years | | 7,192 | | | (7,192) | | | — | | | | | | | | | | Non-compete agreements | 3 years | | 292 | | | (292) | | | — | | | | | | | | | | | | | | | | | | Capitalized software | 3 years | | 3,317 | | | (3,317) | | | — | | Other | 1 - 20 years | | 1,208 | | | (983) | | | 225 | | | | | $ | 1,100,816 | | | $ | (667,397) | | | $ | 433,419 | |
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Finite-lived Intangible Assets Amortization Expense |
The following table provides a summary of amortization expense for the three and nine months ended December 31, 2022 and 2021, respectively (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | December 31, | | December 31, | | 2022 | | 2021 | | 2022 | | 2021 | Amortization of intangible assets included as: | | | | | | | | | | | | | | | | Cost of product revenue | $ | 2,627 | | | $ | 3,643 | | | $ | 7,908 | | | $ | 10,959 | | Operating expense | 13,823 | | | 14,924 | | | 41,515 | | | 44,910 | | | $ | 16,450 | | | $ | 18,567 | | | $ | 49,423 | | | $ | 55,869 | |
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Schedule of Expected Future Amortization Expense |
The following is the expected future amortization expense at December 31, 2022 for the fiscal years ending March 31 (in thousands): | | | | | | 2023 (remaining three months) | $ | 16,515 | | 2024 | 57,878 | | 2025 | 50,713 | | 2026 | 46,357 | | 2027 | 43,480 | | Thereafter | 167,314 | | | $ | 382,257 | |
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