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

9 Months Ended

Dec. 31, 2021

Investment In Films And Television Programs and 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:


	December 31, 2021		March 31, 2021
	(Amounts in millions)
Investment in Films and Television Programs:
Individual Monetization
Released, net of accumulated amortization	$	551.0	$	414.7
Completed and not released	34.4		60.3
In progress	753.8		418.7
In development	105.2		92.9
	1,444.4		986.6
Film Group Monetization
Released, net of accumulated amortization	480.7		200.4
Completed and not released	96.9		—
In progress	565.8		497.1
In development	16.3		28.2
	1,159.7		725.7
Licensed program rights, net of accumulated amortization	381.3		510.4
Investment in films and television programs and licensed program rights, net	$	2,985.4	$	2,222.7

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 nine months ended December 31, 2021 and 2020, and was included in direct operating expense in the unaudited condensed consolidated statements of operations:


	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2021		2020		2021		2020
	(Amounts in millions)
Amortization expense:
Individual monetization	$	205.2	$	132.9	$	624.7	$	361.7
Film group monetization	98.6		78.6		219.3		193.2
Licensed program rights	84.8		110.7		274.7		298.7
	$	388.6	$	322.2	$	1,118.7	$	853.6

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 unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and nine months ended December 31, 2021 and 2020:


	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2021		2020		2021		2020
	(Amounts in millions)
Impairments by segment:
Motion Picture	$	1.1	$	13.7	$	1.2	$	14.6
Television Production	1.5		5.2		28.1		8.0

Impairments not included in segment operating results(1)	—		—		—		15.4
	$	2.6	$	18.9	$	29.3	$	38.0

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(1)Impairments not included in segment operating results in the nine months ended December 31, 2020 represent a charge due to changes in performance expectations resulting from circumstances associated with the COVID-19 global pandemic.