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Intangible Assets and Goodwill | 6 Months Ended
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Sep. 30, 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):
|  | September 30, 2024
|  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Core and developed technology |  | $ | 7,220.1 |  |  | $ | (4,819.0) |  |  | $ | 2,401.1 |
Customer-related |  | 196.7 |  |  | (146.8) |  |  | 49.9 |
In-process research and development |  | 56.8 |  |  | — |  |  | 56.8 |
Software licenses |  | 252.2 |  |  | (105.5) |  |  | 146.7 |
Total |  | $ | 7,725.8 |  |  | $ | (5,071.3) |  |  | $ | 2,654.5 |
|  | 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 |
During the six months ended September 30, 2024, due to acquisitions, the Company acquired $56.8 million of in-process research and development and $1.1 million of software licenses intangible assets. The amounts are considered immaterial for disclosure purposes. The following is an expected amortization schedule for the intangible assets for the remainder of fiscal 2025 through fiscal 2029, absent any future acquisitions or impairment charges (in millions):
Fiscal Year Ending March 31, |  | Amortization Expense
2025 |  | $ | 290.1 |
2026 |  | $ | 515.7 |
2027 |  | $ | 420.5 |
2028 |  | $ | 311.4 |
2029 |  | $ | 238.6 |
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):
|  |  | Three Months Ended September 30, |  | Six Months Ended September 30,
|  |  |  |  |  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Amortization expense charged to cost of sales |  |  |  |  |  |  | $ | 3.9 |  |  | $ | 3.0 |  |  | $ | 7.6 |  |  | $ | 6.0 |
Amortization expense charged to operating expense |  |  |  |  |  |  | 142.5 |  |  | 169.0 |  |  | 284.5 |  |  | 338.4 |
Total amortization expense |  |  |  |  |  |  | $ | 146.4 |  |  | $ | 172.0 |  |  | $ | 292.1 |  |  | $ | 344.4 |
Goodwill activity by segment was as follows (in millions):
| Semiconductor Products Reporting Unit |  | Technology Licensing Reporting Unit
Balance at March 31, 2024 | $ | 6,656.2 |  |  | $ | 19.2 |
Immaterial additions due to acquisitions | 6.5 |  |  | — |
Balance at September 30, 2024 | $ | 6,662.7 |  |  | $ | 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 September 30, 2024, the Company has never recorded a goodwill impairment charge.

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