Intangible Assets and Goodwill

3 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consist of the following (in millions):



	June 30, 2019
	Gross Amount		Accumulated Amortization			Net Amount
Core and developed technology	$	7,411.9	$	(1,331.7	)	$	6,080.2
Customer-related	917.1		(580.0		)	337.1
In-process research and development	7.7		—			7.7
Distribution rights and other	7.1		(3.4		)	3.7
Total	$	8,343.8	$	(1,915.1	)	$	6,428.7



	March 31, 2019
	Gross Amount		Accumulated Amortization			Net Amount
Core and developed technology	$	7,413.0	$	(1,112.9	)	$	6,300.1
Customer-related	917.1		(544.0		)	373.1
In-process research and development	7.7		—			7.7
Distribution rights and other	7.6		(2.9		)	4.7
Total	$	8,345.4	$	(1,659.8	)	$	6,685.6

The following is an expected amortization schedule for the intangible assets for remainder of fiscal 2020 through fiscal 2024, absent any future acquisitions or impairment charges (in millions):



Fiscal Year Ending March 31,	Projected Amortization Expense
2020	$754.5
2021	$946.1
2022	$875.0
2023	$681.1
2024	$614.3

The Company amortizes intangible assets over their expected useful lives, which range between 1 and 15 years. Amortization expense attributed to intangible assets are assigned to cost of sales and operating expenses as follows (in millions):



	Three Months Ended June 30,
	2019		2018
Amortization expense charged to cost of sales	$	2.2	$	1.0
Amortization expense charged to operating expense	258.7		133.8
Total amortization expense	$	260.9	$	134.8

The Company recognized impairment charges of $0.5 million and $2.0 million in the three months ended June 30, 2019 and 2018, respectively.

The following shows the goodwill balance as of June 30, 2019 and March 31, 2019 by segment (amounts in millions):



	Semiconductor Products Reporting Unit		Technology Licensing Reporting Unit
Goodwill	$	6,644.7	$	19.2

At March 31, 2019, the Company applied a qualitative goodwill impairment test to its two reporting units, concluding it was not more likely than not that goodwill was impaired. Through June 30, 2019, the Company has never recorded an impairment charge against its goodwill balance.