XML 37 R16.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Intangible Assets and Goodwill
 12 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Net amounts excluding fully amortized intangible assets, consist of the following (in millions):
March 31, 2024
Gross AmountAccumulated AmortizationNet Amount
Core and developed technology$7,221.3 $(4,590.9)$2,630.4 
Customer-related196.7 (140.8)55.9 
Software licenses230.7 (135.2)95.5 
Total$7,648.7 $(4,866.9)$2,781.8 

March 31, 2023
Gross AmountAccumulated AmortizationNet Amount
Core and developed technology$7,296.2 $(4,103.4)$3,192.8 
Customer-related199.8 (128.0)71.8 
In-process research and development5.7 — 5.7 
Software licenses211.7 (113.0)98.7 
Distribution rights and other0.3 (0.3)— 
Total$7,713.7 $(4,344.7)$3,369.0 

The following is an expected amortization schedule for the intangible assets for fiscal 2025 through fiscal 2029, absent any future acquisitions or impairment charges (in millions):
Fiscal Year Ending March 31,Amortization Expense
2025$561.3 
2026$489.8 
2027$388.8 
2028$300.2 
2029$230.5 
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):
Fiscal Year Ended March 31,
202420232022
Amortization expense charged to cost of sales$12.2 $15.8 $12.4 
Amortization expense charged to operating expense676.9 737.9 922.0 
Total amortization expense$689.1 $753.7 $934.4 

Goodwill activity by segment was as follows (in millions):
 Semiconductor Products Reporting UnitTechnology Licensing Reporting Unit
Balance at March 31, 2022$6,654.4 $19.2 
Additions— — 
Balance at March 31, 2023$6,654.4 $19.2 
Additions1.8 — 
Balance at March 31, 2024$6,656.2 $19.2 

At March 31, 2024, the Company applied a qualitative goodwill impairment test to its two reporting units, and concluded that goodwill was not impaired. Through March 31, 2024, the Company has never recorded a goodwill impairment charge.