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Investment in Films and Television Programs and Licensed Program Rights (Tables)
 12 Months Ended
Mar. 31, 2022
Investment in Films and Television Programs and Licensed Program Rights [Abstract]  
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:
March 31,
2022		March 31,
2021
 (Amounts in millions)
Investment in Films and Television Programs:
Individual Monetization(1)
Released, net of accumulated amortization$557.5 $414.7 
Completed and not released121.4 60.3 
In progress574.9 418.7 
In development102.7 92.9 
1,356.5 986.6 
Film Group Monetization
Released, net of accumulated amortization$469.5 200.4 
Completed and not released253.2 — 
In progress427.6 497.1 
In development11.4 28.2 
1,161.7 725.7 
Licensed program rights, net of accumulated amortization$495.4 510.4 
Investment in films and television programs and program rights, net$3,013.6 $2,222.7 
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(1)At March 31, 2022, the unamortized balance related to completed and not released and in progress theatrical films was $500.8 million.
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 fiscal years ended March 31, 2022 and 2021, and was included in direct operating expense in the consolidated statement of operations:
Year Ended
March 31,
20222021
 
Amortization expense:
Individual monetization$887.3 $539.3 
Film group monetization303.0 229.0 
Licensed program rights377.4 421.5 
$1,567.7 $1,189.8 
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 March 31, 2022:
Year Ending
March 31,
202320242025
 (Amounts in millions)
Estimated future amortization expense:
Released investment in films and television programs:
Individual monetization$196.0 $91.2 $72.2 
Film group monetization$145.8 $91.1 $64.8 
Licensed program rights$256.7 $111.4 $64.8 
Completed and not released investment in films and television programs:
Individual monetization$90.9 n/an/a
Film group monetization$133.5 n/an/a
Impairments By Segment
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 consolidated statements of operations, and represented the following amounts by segment for the fiscal years ended March 31, 2022, 2021 and 2020:
Year Ended
March 31,
202220212020
 (Amounts in millions)
Impairments by segment:
Motion Picture$1.2 $19.4 $42.1 
Television Production34.9 10.3 1.8 
Impairments not included in segment operating results(1)
36.9 15.4 91.6 
$73.0 $45.1 $135.5 
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(1)Fiscal 2022: Represents impairment charges recorded as a result of a strategic review of original programming on the STARZ platform, which identified certain titles with limited viewership or strategic purpose which were removed from the STARZ service and abandoned by the Media Networks segment.

Fiscal 2021: Represents impairment charges as a result of changes in performance expectations associated with the circumstances associated with the COVID-19 global pandemic.

Fiscal 2020: Represents certain programming and content impairment charges of $76.5 million recorded as a result of changes to the Company's programming and broadcasting strategy in connection with changes in certain management at Starz Networks and impairment charges of $15.1 million due to changes in performance expectations resulting from circumstances associated with the COVID-19 global pandemic.

Of the impairments not included in segment operating results, none, $15.4 million and $13.1 million for fiscal 2022, 2021 and 2020, respectively, related to motion picture titles.

See Note 15 and Note 16 for programming and content charges and COVID-19 related charges included in direct operating expense.