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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets | 6. Goodwill and Intangible Assets Goodwill Changes in the carrying value of goodwill by reporting segment were as follows:
|  | Motion Picture |  |  | Television Production |  |  | Total |
|  | (Amounts in millions) |
Balance as of March 31, 2023 and 2022 |  | $ | 393.7 |  |  | $ | 401.9 |  |  | $ | 795.6 |
Acquisition of eOne (see Note 2) |  |  | 1.0 |  |  |  | 4.8 |  |  |  | 5.8 |
Measurement period adjustments (1) |  |  | 3.9 |  |  |  | 5.9 |  |  |  | 9.8 |
Balance as of March 31, 2024 |  | $ | 398.6 |  |  | $ | 412.6 |  |  | $ | 811.2 |
(1) | Measurement period adjustments for the acquisition of eOne reflect an increase to goodwill of $9.8 million resulting from a net decrease in estimated fair value of the net assets acquired. The decrease in the estimated fair value of the net assets acquired consisted of net decreases to accounts receivable and other assets of $11.4 million and $12.4 million, respectively, partially offset by a net increase to investment in films and television programs of $4.0 million, and net decreases to content related payables of $1.9 million, accrued liabilities of $3.8 million, participations and residuals of $1.9 million, and deferred revenue of $2.4 million.
Intangible Assets Finite-Lived Intangible Assets. Finite-lived intangible assets consisted of the following:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | 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 |  | $ | 23.9 |  |  | $ | 21.7 |  |  | $ | 2.2 |  |  | $ | 31.0 |  |  | $ | 10.0 |  |  | $ | 21.0 |
Trademarks and trade names |  |  | 7.6 |  |  |  | 3.0 |  |  |  | 4.6 |  |  |  | 3.6 |  |  |  | 2.6 |  |  |  | 1.0 |
Other |  |  | 31.0 |  |  |  | 12.1 |  |  |  | 18.9 |  |  |  | 23.9 |  |  |  | 19.0 |  |  |  | 4.9 |
|  | $ | 62.5 |  |  | $ | 36.8 |  |  | $ | 25.7 |  |  | $ | 58.5 |  |  | $ | 31.6 |  |  | $ | 26.9 |
Amortization expense associated with the Company’s intangible assets for the years ended March 31, 2024, 2023 and 2022 was approximately $5.3 million, $5.7 million and $5.7 million, respectively. Amortization expense remaining relating to intangible assets for each of the years ending March 31, 2025 through 2029 is estimated to be approximately $4.2 million, $2.5 million, $2.2 million, $2.2 million, and $2.1 million, respectively.
Starz Business of Lions Gate Entertainment Corp |
Goodwill and Intangible Assets | 5. Goodwill and Intangible Assets Goodwill Goodwill by reportable segment for each period is as follows:
|  | Starz Networks |
Balance as of March 31, 2022 |  | $ | 1,755.7 |
Impairments (1) |  |  | (1,261.7 | )
Balance as of March 31, 2023 |  | $ | 494.0 |
Impairments (1) |  |  | (494.0 | )
Balance as of March 31, 2024 |  | $ | — |
(1) | See Note 1, Goodwill Impairment Assessments , for further information on the goodwill impairments recorded in fiscal 2023 and fiscal 2024 related to Starz Networks. See Note 2 for additional goodwill impairment charges related to discontinued operations.
Intangible Assets Finite-Lived Intangible Assets. Finite-lived intangible assets consisted of the following:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
|  | (Amounts in millions) |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships (1) |  | $ | 1,821.0 |  |  | $ | 930.9 |  |  | $ | 890.1 |  |  | $ | 1,821.0 |  |  | $ | 797.9 |  |  | $ | 1,023.1 |
Trademarks and trade names (2) |  |  | 80.0 |  |  |  | 4.0 |  |  |  | 76.0 |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 1,901.0 |  |  | $ | 934.9 |  |  | $ | 966.1 |  |  | $ | 1,821.0 |  |  | $ | 797.9 |  |  | $ | 1,023.1 |
(1) | Customer relationships represent the Starz Business affiliation agreements with distributors.
(2) | Amounts as of March 31, 2024 include the Starz trade names previously accounted for as indefinite-lived intangible assets, see below and Note 1, Indefinite-Lived Intangibles Other Than Goodwill Impairment Assessment , for further information.
Amortization expense associated with the Starz Business’s intangible assets for the fiscal years ended March 31, 2024, 2023 and 2022 was approximately $137.0 million, $134.5 million and $129.2 million, respectively. Amortization expense remaining relating to intangible assets for each of the fiscal years ending March 31, 2025 through 2029 is estimated to be approximately $134.2 million, $125.1 million, $118.4 million, $113.3 million, and $108.0 million, respectively. Indefinite-Lived Intangible Assets. As of March 31, 2023, our indefinite-lived intangible assets consisted of trade names representing the estimated fair value of the Starz brand name determined in connection with Lionsgate’s acquisition of the Starz Business as of December 8, 2016, amounting to $250.0 million. See Note 1, Indefinite-Lived Intangibles Other Than Goodwill Impairment Assessment , for further information on the trade name impairment charge of $170.0 million recorded in the second quarter of fiscal 2024, and the reassessment of the estimated useful life of the trade names with a remaining carrying value of $80.0 million. Beginning October 1, 2023 , the trade names are being accounted for as finite-lived intangible assets and amortized over their estimated useful life. As of March 31, 2024, the Starz Business did not have any indefinite-lived intangible assets.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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