The predominant monetization strategy for all of the Company’s investments in films and television programs is on an individual film basis. Total investment in films and television programs is as follows:


	June 30, 2025		March 31, 2025
	(Amounts in millions)
Investment in Films and Television Programs:
Released, net of accumulated amortization	$	1,075.6	$	992.4
Completed and not released	134.5		135.1
In progress	692.9		779.5
In development	105.3		87.2
Investment in films and television programs	$	2,008.3	$	1,994.2

At June 30, 2025, acquired film and television libraries have remaining unamortized costs of $230.8 million, which are monetized individually and are being amortized on a straight-line basis or the individual-film-forecast method over a weighted-average remaining period of approximately 13.0 years (March 31, 2025 - unamortized costs of $235.7 million).

Amortization of investment in film and television programs was $224.4 million and $161.5 million for the three months ended June 30, 2025 and 2024, respectively, and was included in direct operating expense in the unaudited condensed consolidated statements of operations.

Impairments. Investment in films and television programs include write-downs to fair value. Impairments that are recorded to direct operating expense are included in amortization expense. During the three months ended June 30, 2025, the Company did not incur any impairment charges. During the three months ended June 30, 2024, the Company recorded $0.3 million of impairment charges recorded within direct operating expense on the unaudited condensed consolidated statement of operations. The impairment was related to the Company's Motion Picture segment.