Goodwill and Intangible Assets |
Goodwill and Intangible Assets Goodwill
Changes in the carrying amount of goodwill, net, by segment follows:
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ODS |
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AGP |
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Consolidated |
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Goodwill as of March 31, 2022 |
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$ |
80,176 |
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$ |
479,616 |
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$ |
559,792 |
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Foreign currency translation and purchase price adjustments |
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— |
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(4,829) |
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(4,829) |
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Goodwill as of June 30, 2022 |
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$ |
80,176 |
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$ |
474,787 |
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$ |
554,963 |
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Intangible Assets
The components of intangible assets as of June 30, 2022, and March 31, 2022, were as follows:
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As of June 30, 2022 |
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Weighted-Average Remaining Useful Life |
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Cost |
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Accumulated Amortization |
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Net |
Customer relationships |
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12.26 years |
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$ |
170,057 |
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$ |
(24,894) |
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$ |
145,163 |
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Developed technology |
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6.02 years |
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146,144 |
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(23,566) |
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122,578 |
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Trade names |
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3.08 years |
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69,865 |
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(13,243) |
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56,622 |
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Publisher relationships |
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18.56 years |
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108,638 |
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(6,092) |
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102,546 |
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Total |
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$ |
494,704 |
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$ |
(67,795) |
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$ |
426,909 |
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As of March 31, 2022 |
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Weighted-Average Remaining Useful Life |
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Cost |
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Accumulated Amortization |
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Net |
Customer relationships |
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12.01 years |
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$ |
171,060 |
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$ |
(19,636) |
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$ |
151,424 |
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Developed technology |
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6.26 years |
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144,581 |
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(18,103) |
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126,478 |
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Trade names |
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3.33 years |
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69,205 |
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(8,523) |
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60,682 |
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Publisher relationships |
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18.77 years |
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106,514 |
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(4,509) |
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102,005 |
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Total |
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$ |
491,360 |
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$ |
(50,771) |
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$ |
440,589 |
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The Company recorded amortization expense of $16,117 during the three months ended June 30, 2022, and $7,101 during the three months ended June 30, 2021, in general and administrative expenses on the condensed consolidated statements of operations and comprehensive income / (loss). As of March 31, 2022, the Company changed the useful lives of all its trade names intangible assets to approximately 3.33 years due to the planned rebranding of the Company's recent acquisitions, which began during the three months ended June 30, 2022.Estimated amortization expense in future fiscal years is expected to be:
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Fiscal year 2023 |
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$ |
48,226 |
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Fiscal year 2024 |
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64,301 |
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Fiscal year 2025 |
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55,696 |
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Fiscal year 2026 |
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41,459 |
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Fiscal year 2028 |
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35,346 |
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Thereafter |
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181,881 |
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Total |
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$ |
426,909 |
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