GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The change in our goodwill balance is as follows:


	Total
Balance at March 31, 2021	$	535.3
Acquisition of Nordeus	115.5
Additions from immaterial acquisitions	35.3
Currency translation adjustment	(11.5)
Balance at March 31, 2022	$	674.6
Acquisition of Zynga (see Note 20)	5,994.4
Acquisition of Popcore (see Note 20)	72.1
Additions from immaterial acquisitions	26.5
Currency translation adjustment	(0.5)
Balance at March 31, 2023	$	6,767.1

Intangibles

The following table sets forth the intangible assets that are subject to amortization:


	March 31,
	2023						2022
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average useful life
Developed Game Technology	$	4,434.5	$	(744.0)	$	3,690.5	$	122.5	$	(69.5)	$	53.0	7 years
Branding and Trade Names	395.2		(33.1)		362.1		11.1		(3.5)		7.6		12 years
Game Engine Technology	323.2		(73.5)		249.7		30.0		(13.7)		16.3		4 years
User Base	319.2		(274.4)		44.8		9.4		(8.9)		0.5		1 year
Developer Relationships	57.0		(12.2)		44.8		—		—		—		5 years
Advertising Technology	43.0		(12.3)		30.7		—		—		—		3 years
Customer Relationships	31.0		(5.3)		25.7		—		—		—		5 years
Intellectual Property	22.3		(18.2)		4.1		229.8		(42.3)		187.5		6 years
In Place Lease	1.9		(1.1)		0.8		2.3		(0.7)		1.6		4 years
Analytics Technology	30.1		(30.1)		—		30.7		(30.7)		—		0 years
Total intangible assets	$	5,657.4	$	(1,204.2)	$	4,453.2	$	435.8	$	(169.3)	$	266.5

Amortization of intangible assets, including impairments, is included in our Consolidated Statements of Operations as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Cost of revenue	$	1,171.5	$	52.0	$	21.2
Selling and marketing	277.1		5.3		3.6
Research and development	24.6		5.5		6.7
Depreciation and amortization	33.5		2.0		0.7
Total amortization of intangible assets	$	1,506.7	$	64.8	$	32.2

During the fiscal year ended March 31, 2023, we recorded impairment charges of $465.3 for acquisition-related Developed Game Technology intangible assets within Cost of revenue as a result of (i) a reduction in the forecasted performance of certain games due macroeconomic conditions and changes in our strategies for those games and (ii) our decision not to proceed with further development of a certain interactive entertainment software product. The fair value of those intangible assets was measured using the multi-period excess earnings method, consistent with the approach used at acquisition. Key assumptions and estimates used in deriving the fair value are forecasted revenue, EBITDA margins, long-term decay rate, and discount rate. During the fiscal years ended March 31, 2022 and 2021, there were no impairment charges for intangible assets.

Estimated future amortization of intangible assets that will be recorded in cost of revenue and operating expenses for the years ending March 31, are as follows:


Fiscal Year Ended March 31,	Amortization
2024	$	862.1
2025	809.2
2026	788.2
2027	725.4
2028	659.3