| Schedule of Changes in Carrying Amount of Goodwill |
The following table summarizes the changes in the carrying amount of goodwill for the fiscal years ended March 31, 2026 and 2025 as follows (in thousands):
|
|
|
|
Balance at March 31, 2024 |
$ |
1,502,820 |
|
Goodwill impairment |
|
(426,967 |
) |
Foreign currency translation impact |
|
530 |
|
Balance at March 31, 2025 |
$ |
1,076,383 |
|
Foreign currency translation impact |
|
(5,791 |
) |
Balance at March 31, 2026 |
$ |
1,070,592 |
|
|
| Schedule of Intangible Assets |
Intangible assets include the following amortizable intangible assets at March 31, 2026 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost |
|
|
Accumulated
Amortization |
|
|
Net |
|
Developed technology |
$ |
250,068 |
|
|
$ |
(246,330 |
) |
|
$ |
3,738 |
|
Customer relationships |
|
769,934 |
|
|
|
(564,880 |
) |
|
|
205,054 |
|
Distributor relationships and technology licenses |
|
5,209 |
|
|
|
(4,457 |
) |
|
|
752 |
|
Definite lived trademark and trade name |
|
57,962 |
|
|
|
(53,356 |
) |
|
|
4,606 |
|
Core technology |
|
7,192 |
|
|
|
(7,192 |
) |
|
|
— |
|
Capitalized software |
|
3,317 |
|
|
|
(3,317 |
) |
|
|
— |
|
Other |
|
1,208 |
|
|
|
(1,063 |
) |
|
|
145 |
|
|
$ |
1,094,890 |
|
|
$ |
(880,595 |
) |
|
$ |
214,295 |
|
Intangible assets include the following amortizable intangible assets at March 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost |
|
|
Accumulated
Amortization |
|
|
Net |
|
Developed technology |
$ |
248,232 |
|
|
$ |
(242,298 |
) |
|
$ |
5,934 |
|
Customer relationships |
|
763,397 |
|
|
|
(518,995 |
) |
|
|
244,402 |
|
Distributor relationships and technology licenses |
|
5,097 |
|
|
|
(4,022 |
) |
|
|
1,075 |
|
Definite-lived trademark and trade name |
|
57,675 |
|
|
|
(50,562 |
) |
|
|
7,113 |
|
Core technology |
|
7,192 |
|
|
|
(7,192 |
) |
|
|
— |
|
Capitalized software |
|
3,317 |
|
|
|
(3,317 |
) |
|
|
— |
|
Other |
|
1,208 |
|
|
|
(1,042 |
) |
|
|
166 |
|
|
$ |
1,086,118 |
|
|
$ |
(827,428 |
) |
|
$ |
258,690 |
|
|
| Schedule of Finite-lived Intangible Assets Amortization Expense |
The following table provides a summary of amortization expense during the fiscal years ended March 31, 2026, 2025, and 2024 (in thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Years Ended March 31, |
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
Amortization of intangible assets included as: |
|
|
|
|
|
|
|
|
Cost of product revenue |
|
2,523 |
|
|
|
4,515 |
|
|
|
7,642 |
|
Operating expense |
|
44,602 |
|
|
|
46,460 |
|
|
|
50,357 |
|
|
$ |
47,125 |
|
|
$ |
50,975 |
|
|
$ |
57,999 |
|
|
| Schedule of Expected Future Amortization Expense |
The following is the expected future amortization expense at March 31, 2026 for the fiscal years ended March 31 (in thousands):
|
|
|
|
2027 |
$ |
44,228 |
|
2028 |
|
41,261 |
|
2029 |
|
31,833 |
|
2030 |
|
28,933 |
|
2031 |
|
23,330 |
|
Thereafter |
|
44,710 |
|
Total |
$ |
214,295 |
|
|