Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying value of goodwill by reporting segment were as follows:


	Motion Picture		Television Production		Media Networks		Total
	(Amounts in millions)


Balance as of March 31, 2021 and March 31, 2022	$	393.7	$	401.9	$	1,968.9	$	2,764.5
Impairment(1)	—		—		(1,475.0)		(1,475.0)


Balance as of March 31, 2023	$	393.7	$	401.9	$	493.9	$	1,289.5

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(1)See Note 1, Goodwill Impairment Assessments, for further information on the goodwill impairment recorded in fiscal 2023 related to the Media Networks segment.

Intangible Assets

Finite-Lived Intangible Assets. Finite-lived intangible assets consisted of the following:


	March 31, 2023						March 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(Amounts in millions)
Finite-lived intangible assets subject to amortization:
Customer relationships(1)	$	1,852.0	$	807.8	$	1,044.2	$	1,852.0	$	671.3	$	1,180.7
Trademarks and trade names	3.6		2.6		1.0		3.6		2.2		1.4
Other	23.9		19.0		4.9		23.9		15.8		8.1
	$	1,879.5	$	829.4	$	1,050.1	$	1,879.5	$	689.3	$	1,190.2

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(1)Customer relationships primarily represent Starz affiliation agreements with distributors.

Amortization expense associated with the Company's intangible assets for the years ended March 31, 2023, 2022 and 2021 was approximately $140.2 million, $134.9 million, and $144.5 million, respectively. Amortization expense remaining relating to intangible assets for each of the years ending March 31, 2024 through 2028 is estimated to be approximately $134.7 million, $128.3 million, $118.7 million, $113.4 million, and $108.4 million, respectively.

Indefinite-Lived Intangible Assets. Indefinite-lived intangible assets not subject to amortization consisted of the following:


	March 31, 2023		March 31, 2022
	(Amounts in millions)
Indefinite-lived intangible assets not subject to amortization:
Tradenames(1)	$	250.0	$	250.0

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(1)Tradenames are related to the Starz brand name, which have an indefinite useful life and are not amortized, but rather are assessed for impairment at least annually or more frequently whenever events or circumstances indicate that the rights might be impaired.