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Investment in Films and Television Programs and Licensed Program Rights (Tables) | 12 Months Ended
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Mar. 31, 2023
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, 2023 |  | March 31, 2022
| (Amounts in millions)
Investment in Films and Television Programs: |  |  |
Individual Monetization(1)(2) |  |  |
Released, net of accumulated amortization | $ | 611.7 |  |  | $ | 557.5 |
Completed and not released | 278.7 |  |  | 121.4 |
In progress | 457.0 |  |  | 574.9 |
In development | 64.1 |  |  | 102.7 |
| 1,411.5 |  |  | 1,356.5 |
Film Group Monetization |  |  |
Released, net of accumulated amortization | $ | 657.8 |  |  | 469.5 |
Completed and not released | 281.7 |  |  | 253.2 |
In progress | 303.0 |  |  | 427.6 |
In development | 8.2 |  |  | 11.4 |
| 1,250.7 |  |  | 1,161.7 |
Licensed program rights, net of accumulated amortization | 285.7 |  |  | 495.4 |
Investment in films and television programs and program rights, net | $ | 2,947.9 |  |  | $ | 3,013.6 |
________________________ (1)At March 31, 2023, the unamortized balance related to completed and not released and in progress theatrical films was $561.5 million. (2)Production tax credits reduced total investment in films and television programs by $181.2 million during the year ended March 31, 2023, which resulted in a reduction of direct operating expense related to the amortization of investment in films and television programs cost of approximately $84.3 million for the year ended March 31, 2023.
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, and was included in direct operating expense in the consolidated statement of operations:
| Year Ended
| March 31,
| 2023 |  | 2022 |  | 2021
Amortization expense: |  |  |  |  |
Individual monetization | $ | 951.2 |  |  | $ | 887.3 |  |  | $ | 539.3 |
Film group monetization | 330.0 |  |  | 303.0 |  |  | 229.0 |
Licensed program rights | 384.1 |  |  | 377.4 |  |  | 421.5 |
| $ | 1,665.3 |  |  | $ | 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, 2023:
| Year Ending
| March 31,
| 2024 |  | 2025 |  | 2026
| (Amounts in millions)
Estimated future amortization expense: |  |  |  |  |
Released investment in films and television programs: |  |  |  |  |
Individual monetization | $ | 237.0 |  |  | $ | 85.5 |  |  | $ | 83.2 |
Film group monetization | $ | 317.8 |  |  | $ | 131.3 |  |  | $ | 79.5 |
Licensed program rights | $ | 145.4 |  |  | $ | 42.6 |  |  | $ | 24.6 |
Completed and not released investment in films and television programs: |  |  |  |  |
Individual monetization | $ | 170.4 |  |  | n/a |  | n/a
Film group monetization | $ | 281.7 |  |  | n/a |  | n/a
Impairments By Segment | Investment in films and television programs and licensed program rights includes write-downs to fair value. The following table sets forth impairments by segment and the line item in our consolidated statement of operations they are recorded in for the fiscal years ended March 31, 2023, 2022 and 2021:
| Year Ended
| March 31,
| 2023 |  | 2022 |  | 2021
| (Amounts in millions)
Impairments by segment: |  |  |  |  |
Included in direct operating expense: |  |  |  |  |
Motion Picture | $ | 6.2 |  |  | $ | 1.2 |  |  | $ | 19.4 |
Television Production | 4.6 |  |  | 34.9 |  |  | 10.3 |
Impairments not included in segment operating results(1): |  |  |  |  |
Included in direct operating expense | — |  |  | 36.9 |  |  | 15.4 |
Included in restructuring and other | 379.3 |  |  | — |  |  | — |
| $ | 390.1 |  |  | $ | 73.0 |  |  | $ | 45.1 |
________________________ (1)Fiscal 2023: Represents charges related to the Media Networks restructuring plan initiatives, including content impairment of programming in certain international territories associated with the restructuring of LIONSGATE+ (formerly STARPLAY International), and individual content charges pursuant to a strategic review of content performance across Starz's domestic and international platforms resulting in certain programming being removed from those platforms and written down to fair value. 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. Of the impairments not included in segment operating results, none, none and $15.4 million for fiscal 2023, 2022 and 2021, respectively, related to motion picture titles. See Note 15 and Note 16 for further information.

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