The change in our goodwill balance is as follows:


	Total
Balance at March 31, 2023	$	6,767.1
Impairment	(2,342.1)
Additions from immaterial acquisitions	9.7
Currency translation adjustment	(8.3)
Balance at March 31, 2024	$	4,426.4
Gearbox Acquisition	192.9
Impairment	(3,545.2)
Divestitures	(15.8)
Additions from immaterial acquisitions	3.1
Currency translation adjustment	(4.1)
Balance at March 31, 2025	$	1,057.3

During the fiscal year ended March 31, 2025, and 2024, we recognized goodwill impairment charges of $3,545.2 and $2,342.1, respectively, representing partial impairments related to one of our reporting units. We identified various qualitative factors that, collectively, indicated that the fair value of one of our reporting units was more likely than not less than its carrying amount, including a reduction in the forecasted performance of the reporting unit due to industry conditions and changes in our strategies for games within the reporting unit in response to those conditions. As a result of this qualitative analysis, we performed a valuation of the reporting unit using discounted cash flow and guideline public company methodologies. Key assumptions and estimates used in deriving the fair value are forecasted revenue, EBITDA margins, long-term growth rate, and discount rate. There were no goodwill impairment charges for the fiscal year ended March 31, 2023.

Other intangibles, net, as of March 31, 2025, included in-process research and development ("IPR&D") assets of $36.0 acquired as part of the Gearbox acquisition (refer to Note 20 - Acquisitions), which are indefinite-lived intangibles and therefore not subject to amortization until the related games are released or development is abandoned, which would result in an impairment.

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


	March 31,
	2025						2024
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average useful life
Developed Game Technology	$	3,624.0	$	(1,781.6)	$	1,842.4	$	3,788.8	$	(1,301.4)	$	2,487.4	6 years
Branding and Trade Names	354.0		(98.5)		255.5		395.1		(68.5)		326.6		12 years
Game Engine Technology	331.2		(223.0)		108.2		322.5		(147.3)		175.2		4 years
User Base	319.2		(319.2)		—		319.2		(319.2)		—		0 years
Developer Relationships	57.0		(40.7)		16.3		57.0		(26.5)		30.5		5 years
Advertising Technology	—		—		—		43.0		(26.6)		16.4		0 years
Customer Relationships	—		—		—		31.0		(11.5)		19.5		0 years
Intellectual Property	94.8		(17.4)		77.4		27.5		(23.1)		4.4		14 years
In Place Lease	2.0		(1.8)		0.2		2.0		(1.4)		0.6		4 years
Analytics Technology	29.9		(29.9)		—		30.1		(30.1)		—		0 years
Total intangible assets	$	4,812.1	$	(2,512.1)	$	2,300.0	$	5,016.2	$	(1,955.6)	$	3,060.6

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


	Fiscal Year Ended March 31,
	2025		2024		2023
Cost of revenue	$	814.3	$	1,303.5	$	1,171.5
Selling and marketing	4.1		51.0		277.1
Research and development	28.7		28.7		24.6
Depreciation and amortization	75.5		35.7		33.5
Total amortization of intangible assets	$	922.6	$	1,418.9	$	1,506.7

During the fiscal year ended March 31, 2025, we recorded impairment charges of $137.0 for acquisition-related Developed Game Technology intangible assets within Cost of revenue and $39.3 for acquisition-related Branding and Trade Names intangible assets within Depreciation and amortization as a result of a reduction in the forecasted performance of certain games due to industry conditions and changes in our strategies in response to those conditions. During the fiscal year ended March 31, 2024, we recorded impairment charges of $577.4 for acquisition-related Developed Game Technology intangible assets within Cost of revenue as a result of a reduction in the forecasted performance of certain games due to industry conditions and changes in our strategies in response to those conditions. 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 to 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 Developed Game Technology 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 rates, and discount rates. The fair value of Branding and Trade Names assets was measured using the relief-from-royalty method, consistent with the approach used at acquisition. Key assumptions and estimates used in deriving the fair value are forecasted revenue, royalty rates, and discount rates.