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Intangible Assets and Goodwill | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Net amounts excluding fully amortized intangible assets, consist of the following (in millions):
|  | March 31, 2024
|  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Core and developed technology |  | $ | 7,221.3 |  |  | $ | (4,590.9) |  |  | $ | 2,630.4 |
Customer-related |  | 196.7 |  |  | (140.8) |  |  | 55.9 |
Software licenses |  | 230.7 |  |  | (135.2) |  |  | 95.5 |
Total |  | $ | 7,648.7 |  |  | $ | (4,866.9) |  |  | $ | 2,781.8 |
|  | March 31, 2023
|  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Core and developed technology |  | $ | 7,296.2 |  |  | $ | (4,103.4) |  |  | $ | 3,192.8 |
Customer-related |  | 199.8 |  |  | (128.0) |  |  | 71.8 |
In-process research and development |  | 5.7 |  |  | — |  |  | 5.7 |
Software licenses |  | 211.7 |  |  | (113.0) |  |  | 98.7 |
Distribution rights and other |  | 0.3 |  |  | (0.3) |  |  | — |
Total |  | $ | 7,713.7 |  |  | $ | (4,344.7) |  |  | $ | 3,369.0 |
The following is an expected amortization schedule for the intangible assets for fiscal 2025 through fiscal 2029, absent any future acquisitions or impairment charges (in millions):
Fiscal Year Ending March 31, |  | Amortization Expense
2025 |  | $ | 561.3 |
2026 |  | $ | 489.8 |
2027 |  | $ | 388.8 |
2028 |  | $ | 300.2 |
2029 |  | $ | 230.5 |
The Company amortizes intangible assets over their expected useful lives, which range between 1 and 15 years. Amortization expense attributed to intangible assets are assigned to cost of sales and operating expenses as follows (in millions):
| Fiscal Year Ended March 31, |  |  |  |
| 2024 |  | 2023 |  | 2022 |  |  |  |  |  |  |  |
Amortization expense charged to cost of sales | $ | 12.2 |  |  | $ | 15.8 |  |  | $ | 12.4 |  |  |  |  |  |  |  |  |
Amortization expense charged to operating expense | 676.9 |  |  | 737.9 |  |  | 922.0 |  |  |  |  |  |  |  |  |
Total amortization expense | $ | 689.1 |  |  | $ | 753.7 |  |  | $ | 934.4 |  |  |  |  |  |  |  |  |
Goodwill activity by segment was as follows (in millions):
| Semiconductor Products Reporting Unit |  | Technology Licensing Reporting Unit
Balance at March 31, 2022 | $ | 6,654.4 |  |  | $ | 19.2 |
Additions | — |  |  | — |
Balance at March 31, 2023 | $ | 6,654.4 |  |  | $ | 19.2 |
Additions | 1.8 |  |  | — |
Balance at March 31, 2024 | $ | 6,656.2 |  |  | $ | 19.2 |
At March 31, 2024, the Company applied a qualitative goodwill impairment test to its two reporting units, and concluded that goodwill was not impaired. Through March 31, 2024, the Company has never recorded a goodwill impairment charge.

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