Details of our capitalized software development costs and licenses are as follows:


	March 31,
	2025				2024
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	62.9	$	1,845.6	$	53.4	$	1,237.0
Software development costs, externally developed	0.5		39.7		6.1		198.5
Licenses	17.4		7.3		28.8		11.0
Software development costs and licenses	$	80.8	$	1,892.6	$	88.3	$	1,446.5

Software development costs and licenses, net of current portion as of March 31, 2025 and 2024 included $1,815.0 and $1,433.8, respectively, related to titles that have not been released.

Amortization and impairment of software development costs and licenses are as follows:


	Fiscal Year Ended March 31,
	2025		2024		2023
Amortization of software development costs and licenses	$	265.7	$	207.2	$	179.7
Impairment of software development costs and licenses	77.5		109.9		79.1
Portion representing stock-based compensation	(9.4)		(24.4)		9.5
Amortization and impairment, net of stock-based compensation	$	333.8	$	292.7	$	268.3

During the fiscal year ended March 31, 2025, $42.4 of the impairment charges related to a decision not to proceed with further development of certain interactive entertainment software products. The remaining $35.1 of the impairment charges relate to our cost reduction program (refer to Note 21 - Business Reorganization).

During the fiscal year ended March 31, 2024, $88.2 of the impairment charges relate to our cost reduction program, the remaining $21.7 related to (i) a decision not to proceed with further development of certain interactive entertainment software products, and (ii) recognizing unamortized capitalized costs for the development of a title that exceed the anticipated net realizable value of the asset at the time they were impaired.

During the fiscal year ended March 31, 2023, the impairment charges related to (i) a decision not to proceed with further development of certain interactive entertainment software products, and (ii) recognizing unamortized capitalized costs for the development of a title, which were anticipated to exceed the net realizable value of the asset at the time they were impaired.

As a result of government grants earned on qualified production spend to date, our software development costs and licenses were reduced by $170.5 and $108.3 as of March 31, 2025 and 2024, respectively. We had $128.1 and $198.5 current receivable within Prepaid expenses and other, and $150.6 and $109.3 non-current receivable within Other assets on our Consolidated Balance Sheets relating to such government grants as of March 31, 2025 and 2024, respectively. Within our Consolidated Statements of Operations, for fiscal years ended March 31, 2025, 2024, and 2023, Cost of revenue, was reduced by $167.4, $45.3, and $41.2, respectively, and Research and development expense was reduced by $43.2, $5.9, and $4.5, respectively.