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Investment In Films and Television Programs and Program Rights (Tables)

6 Months Ended

Sep. 30, 2020

Investment In Films And Television Programs and Program Rights [Abstract]

Investment in films and television programs and licensed program rights includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and six months ended September 30, 2020 and 2019:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
	(Amounts in millions)
Impairments by segment:
Motion Picture	$	0.3	$	0.1	$	0.9	$	1.6
Television Production	2.8		0.1		2.8		0.7

Impairments not included in segment operating results(1)	15.4		—		15.4		—

	$	18.5	$	0.2	$	19.1	$	2.3

________________________

(1)Impairments not included in segment operating results in the three and six months ended September 30, 2020 represent a charge due to changes in performance expectations resulting from circumstances associated with the COVID-19 global pandemic.

Investment in Films and Television Programs and Licensed Program Rights

Total investment in films and television programs and licensed program rights by predominant monetization strategy is as follows:


	September 30, 2020
	(Amounts in millions)
Investment in Films and Television Programs:
Individual Monetization
Released, net of accumulated amortization	$	395.9
Completed and not released	133.4
In progress	133.3
In development	91.0
	753.6
Film Group Monetization
Released, net of accumulated amortization	$	284.6
Completed and not released	—
In progress	191.4
In development	40.2
	516.2
Licensed program rights, net of accumulated amortization	$	493.4
Investment in films and television programs and program rights, net	$	1,763.2

Amortization of Investment in Films and Television Programs and Licensed Program Rights

Amortization of investment in film and television programs and licensed program rights by predominant monetization strategy is as follows for the three and six months ended September 30, 2020, and was included in direct operating expense in the unaudited condensed consolidated statement of operations:


	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2020			2020
	(Amounts in millions)
Amortization expense:
Individual monetization	$	106.3		$	228.8
Film group monetization	66.4			114.6
Licensed program rights	77.5			188.0
	$	250.2		$	531.4

Schedule of Estimated Future Amortization Expense for Investment in Films and Television Programs and Licensed Program Rights

The table below summarizes estimated future amortization expense for the Company's investment in film and television programs and licensed program rights as of September 30, 2020:


	Twelve Months Ended
	June 30,
	2021		2022		2023
	(Amounts in millions)
Estimated future amortization expense:
Released investment in films and television programs:
Individual monetization	$	144.3	$	80.3	$	70.7
Film group monetization	$	106.8	$	53.0	$	18.1
Licensed program rights	$	276.9	$	92.7	$	54.2

Completed and not released investment in films and television programs:
Individual monetization	$	103.3	n/a		n/a
Film group monetization	$	—	n/a		n/a