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


	March 31,
	2026				2025
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	46.1	$	2,224.6	$	62.9	$	1,845.6
Software development costs, externally developed	1.7		52.2		0.5		39.7
Licenses	21.0		0.7		17.4		7.3
Software development costs and licenses	$	68.8	$	2,277.5	$	80.8	$	1,892.6

Software development costs and licenses, net of current portion as of March 31, 2026 and 2025 included $2,149.7 and $1,815.0, 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,
	2026		2025		2024
Amortization of software development costs and licenses	$	385.9	$	265.7	$	207.2
Impairment of software development costs and licenses	(1.0)		77.5		109.9
Portion representing stock-based compensation	27.9		(9.4)		(24.4)
Amortization and impairment, net of stock-based compensation	$	412.8	$	333.8	$	292.7

During the fiscal year ended March 31, 2026, $(6.0) of the impairment charges were recorded within Business reorganization and were primarily due to the recovery of previously incurred costs related to the termination of development of two of our titles in connection with the 2024 Plan (our cost reduction program in Fiscal 2025). The remaining $5.0 were recorded within Cost of revenue and primarily related to a decision not to proceed with further development of certain interactive entertainment software products.

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 related to our cost reduction program.

During the fiscal year ended March 31, 2024, $88.2 of the impairment charges related 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.

As a result of government grants earned on qualified production spend to date, our software development costs and licenses were reduced by $233.2 and $170.5 as of March 31, 2026 and 2025, respectively. We had $32.8 and $128.1 current receivable within Prepaid expenses and other, and $250.6 and $150.6 non-current receivable within Other assets on our Consolidated Balance Sheets relating to such government grants as of March 31, 2026 and 2025, respectively. Within our Consolidated Statements of Operations, for fiscal years ended March 31, 2026, 2025, and 2024, Cost of revenue, was reduced by $75.5, $167.4, and $45.3, respectively, and Research and development expense was reduced by $9.9, $43.2, and $5.9, respectively.