Investment in Films and Television Programs

3 Months Ended

Jun. 30, 2026

Investment in Films And Television Programs [Abstract]

Investment in Films and Television Programs

The predominant monetization strategy for all of the Company’s investments in films and television programs is on an individual film basis. Total investment in films and television programs was as follows:


	June 30, 2026		March 31, 2026
	(Amounts in millions)
Investment in Films and Television Programs:
Released, net of accumulated amortization	$	1,106.1	$	1,040.5
Completed and not released	56.5		249.8
In progress	908.7		743.1
In development	91.6		95.0
Total investment in films and television programs, net	$	2,162.9	$	2,128.4

At June 30, 2026, acquired film and television libraries had remaining unamortized costs of $200.1 million, which are monetized individually and amortized on either a straight-line basis or under the individual-film-forecast method over a weighted average remaining period of approximately 12.4 years (March 31, 2026 - unamortized costs were $207.0 million).

Amortization of investment in film and television programs was $264.9 million and $224.4 million for the three months ended June 30, 2026 and 2025, respectively, and is included in direct operating expense in the unaudited condensed consolidated statements of operations.

Impairments. Investment in films and television programs include write-downs to fair value. During the three months ended June 30, 2026, the Company recorded impairment charges of $11.2 million and $1.6 million related to its Motion Picture and Television Production segments, respectively. The write-downs are included in the amortization expense amounts disclosed above, within direct operating expense in the unaudited condensed consolidated statement of operations. There were no impairment charges recorded during the three months ended June 30, 2025.