Intangible Assets and Goodwill

6 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consist of the following (in millions):


	September 30, 2022
	Gross Amount		Accumulated Amortization		Net Amount
Core and developed technology	$	7,412.4	$	(3,903.0)	$	3,509.4
Customer-related	199.8		(119.9)		79.9


In-process research and development	6.4		—		6.4
Software licenses	201.2		(92.0)		109.2
Distribution rights and other	0.3		(0.3)		—
Total	$	7,820.1	$	(4,115.2)	$	3,704.9


	March 31, 2022
	Gross Amount		Accumulated Amortization		Net Amount
Core and developed technology	$	7,390.2	$	(3,571.5)	$	3,818.7
Customer-related	200.3		(112.4)		87.9


In-process research and development	6.4		—		6.4
Software licenses	191.2		(61.2)		130.0
Distribution rights and other	0.4		(0.3)		0.1
Total	$	7,788.5	$	(3,745.4)	$	4,043.1

The following is an expected amortization schedule for the intangible assets for the remainder of fiscal 2023 through fiscal 2027, absent any future acquisitions or impairment charges (in millions):


Fiscal Year Ending March 31,	Amortization Expense
2023	$	374.1
2024	$	669.0
2025	$	535.3
2026	$	464.3
2027	$	378.8

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 September 30,	Six Months Ended September 30,
		2022		2021		2022		2021
Amortization expense charged to cost of sales		$	3.9	$	3.2	$	7.2	$	5.9
Amortization expense charged to operating expense		184.3		230.6		368.7		458.9
Total amortization expense		$	188.2	$	233.8	$	375.9	$	464.8

There were no impairment charges in the three and six months ended September 30, 2022 or September 30, 2021.

The following shows the goodwill balance as of September 30, 2022 and March 31, 2022 by segment (in millions):


	Semiconductor Products Reporting Unit		Technology Licensing Reporting Unit




Goodwill	$	6,654.4	$	19.2

At March 31, 2022, 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 September 30, 2022, the Company has never recorded a goodwill impairment charge.