Lions Gate Entertainment (LGF-A) 10-Q 4 Nov 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-14880
Entity Registrant Name	LIONS GATE ENTERTAINMENT CORP /CN/
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	250 Howe Street
Entity Address, Address Line Two	20th Floor
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6C 3R8
City Area Code	877
Local Phone Number	848-3866
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000929351
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Voting Shares
Document Information [Line Items]
Title of 12(b) Security	Class A Voting Common Shares, no par value per share
Trading Symbol	LGF.A
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		83,206,602
Class B Non-Voting Shares
Document Information [Line Items]
Title of 12(b) Security	Class B Non-Voting Common Shares, no par value per share
Trading Symbol	LGF.B
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		141,753,926
Principal Executive Offices
Document Information [Line Items]
Entity Address, Address Line One	2700 Colorado Avenue
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
ASSETS
Cash and cash equivalents	$ 442.6	$ 528.7
Accounts receivable, net	419.3	383.7
Other current assets	186.3	274.3
Total current assets	1,048.2	1,186.7
Investment in films and television programs and program rights, net	2,788.1	2,222.7
Property and equipment, net	84.7	91.1
Investments	61.1	31.9
Intangible assets	1,508.3	1,575.1
Goodwill	2,764.5	2,764.5
Other assets	492.5	434.2
Total assets	8,747.4	8,306.2
LIABILITIES
Accounts payable and accrued liabilities	538.2	545.4
Participations and residuals	496.5	508.8
Film related and other obligations	546.4	385
Debt - short term portion	40	88
Deferred revenue	276.7	165.7
Total current liabilities	1,897.8	1,692.9
Debt	2,395	2,542.9
Participations and residuals	312	304.6
Film related and other obligations	712.2	318.5
Other liabilities	345.6	337.1
Deferred revenue	49	56.2
Deferred tax liabilities	42.2	40.3
Redeemable noncontrolling interests	243.2	219.1
Commitments and contingencies (Note 15)
EQUITY
Accumulated deficit	(143)	(82.9)
Accumulated other comprehensive loss	(89.2)	(83.3)
Total Lions Gate Entertainment Corp. shareholders' equity	2,748	2,793
Noncontrolling interests	2.4	1.6
Total equity	2,750.4	2,794.6
Total liabilities and equity	8,747.4	8,306.2
Class A Voting Shares
EQUITY
Common shares	665.9	663.2
Class B Non-Voting Shares
EQUITY
Common shares	$ 2,314.3	$ 2,296

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2021	Mar. 31, 2021
Class A Voting Shares
Common shares, no par value	$ 0	$ 0
Authorized common shares	500	500
Common shares, shares issued	83.1	83
Class B Non-Voting Shares
Common shares, no par value	$ 0	$ 0
Authorized common shares	500	500
Common shares, shares issued	141.6	138.2

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues	$ 887.8	$ 745	$ 1,789	$ 1,558.7
Expenses
Direct operating	483.2	366.8	969.3	789.8
Distribution and marketing	216.9	166.7	434.5	308.5
General and administration	110	118.8	240.6	227.8
Depreciation and amortization	44.4	49.6	87.8	97.1
Restructuring and other	3.5	13.4	6.7	16.4
Total expenses	858	715.3	1,738.9	1,439.6
Operating income	29.8	29.7	50.1	119.1
Interest expense	(44)	(45.7)	(85.7)	(90.2)
Interest and other income	24.1	0.1	28	1.8
Other expense	(2.7)	(0.7)	(4.3)	(2.3)
Loss on extinguishment of debt	(0.4)	0	(27.1)	0
Gain (loss) on investments	1.5	(4.7)	1.5	0.4
Equity interests income (loss)	0.4	(1.9)	1.1	(4.5)
Income (loss) before income taxes	8.7	(23.2)	(36.4)	24.3
Income tax benefit (provision)	(5.6)	1.5	(12.1)	0.2
Net income (loss)	3.1	(21.7)	(48.5)	24.5
Less: Net loss attributable to noncontrolling interests	4.4	3.3	10.6	8.2
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders	$ 7.5	$ (18.4)	$ (37.9)	$ 32.7
Per share information attributable to Lions Gate Entertainment Corp. shareholders:
Basic net income (loss) per common share (in usd per share)	$ 0.03	$ (0.08)	$ (0.17)	$ 0.15
Diluted net income (loss) per common share (in usd per share)	$ 0.03	$ (0.08)	$ (0.17)	$ 0.15
Weighted average number of common shares outstanding:
Basic (in shares)	224.4	220.4	223.1	220
Diluted (in shares)	228.5	220.4	223.1	220.6

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3.1	$ (21.7)	$ (48.5)	$ 24.5
Foreign currency translation adjustments, net of tax	(1.1)	0.5	(1)	0.8
Net unrealized gain (loss) on cash flow hedges, net of tax	19	6.7	(4.9)	(0.3)
Comprehensive income (loss)	21	(14.5)	(54.4)	25
Less: Comprehensive loss attributable to noncontrolling interests	4.4	3.3	10.6	8.2
Comprehensive income (loss) attributable to Lions Gate Entertainment Corp. shareholders	$ 25.4	$ (11.2)	$ (43.8)	$ 33.2

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Class A Voting Shares	Lions Gate Entertainment Corp. Shareholders' Equity	Common SharesClass A Voting Shares	Common SharesClass B Non-Voting Shares	Retained Earnings (Accumulated Deficit)	Accumulated other comprehensive loss	Noncontrolling Interests
Beginning balance, shares at Mar. 31, 2020				83	136.4
Beginning balance at Mar. 31, 2020	$ 2,660		$ 2,658	$ 659.2	$ 2,221.7	$ (16.9)	$ (206)	$ 2	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation, net of share cancellations for taxes, shares				0.1	1.2
Share-based compensation, net of share cancellations for taxes	35.1		35.1	$ 2.5	$ 32.6
Issuance of common shares, shares				0	0
Issuance of common shares	0.2		0.2	$ 0.1	$ 0.1
Repurchases of common shares, shares		(0.2)		(0.2)	0
Repurchases of common shares	(1)	$ (1)	(1)	$ (1)	$ 0
Noncontrolling interests	0.1							0.1	[1]
Net income (loss)	32.8		32.7			32.7		0.1	[1]
Other comprehensive loss	0.5		0.5				0.5
Redeemable noncontrolling interests adjustments to redemption value	(13.4)		(13.4)			(13.4)
Ending balance, shares at Sep. 30, 2020				82.9	137.6
Ending balance at Sep. 30, 2020	2,714.3		2,712.1	$ 660.8	$ 2,254.4	2.4	(205.5)	2.2	[2]
Beginning balance, shares at Jun. 30, 2020				82.9	136.9
Beginning balance at Jun. 30, 2020	2,709.5		2,707.4	$ 659.3	$ 2,232.4	28.3	(212.6)	2.1	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation, net of share cancellations for taxes, shares				0	0.7
Share-based compensation, net of share cancellations for taxes	23.5		23.5	$ 1.5	$ 22
Net income (loss)	(18.3)		(18.4)			(18.4)		0.1	[2]
Other comprehensive loss	7.1		7.1				7.1
Redeemable noncontrolling interests adjustments to redemption value	(7.5)		(7.5)			(7.5)
Ending balance, shares at Sep. 30, 2020				82.9	137.6
Ending balance at Sep. 30, 2020	2,714.3		2,712.1	$ 660.8	$ 2,254.4	2.4	(205.5)	2.2	[2]
Beginning balance, shares at Mar. 31, 2021				83	138.2
Beginning balance at Mar. 31, 2021	2,794.6		2,793	$ 663.2	$ 2,296	(82.9)	(83.3)	1.6	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares				0	0.2
Exercise of stock options	2.7		2.7	$ 0.4	$ 2.3
Share-based compensation, net of share cancellations for taxes, shares				0.1	3.2
Share-based compensation, net of share cancellations for taxes	18.1		18.1	$ 2.2	$ 15.9
Issuance of common shares, shares				0	0
Issuance of common shares	0.2		0.2	$ 0.1	$ 0.1
Noncontrolling interests	0.8							0.8	[1]
Net income (loss)	(37.9)		(37.9)			(37.9)		0	[1]
Other comprehensive loss	(5.9)		(5.9)				(5.9)
Redeemable noncontrolling interests adjustments to redemption value	(22.2)		(22.2)			(22.2)
Ending balance, shares at Sep. 30, 2021				83.1	141.6
Ending balance at Sep. 30, 2021	2,750.4		2,748	$ 665.9	$ 2,314.3	(143)	(89.2)	2.4	[1]
Beginning balance, shares at Jun. 30, 2021				83	139.6
Beginning balance at Jun. 30, 2021	2,739.4		2,737.2	$ 664.9	$ 2,318.6	(139.1)	(107.2)	2.2	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares				0	0
Exercise of stock options	0.4		0.4	$ 0	$ 0.4
Share-based compensation, net of share cancellations for taxes, shares				0.1	2
Share-based compensation, net of share cancellations for taxes	(3.7)		(3.7)	$ 1	$ (4.7)
Noncontrolling interests	0.1		0					0.1	[2]
Net income (loss)	7.6		7.5			7.5		0.1	[2]
Other comprehensive loss	18		18				18
Redeemable noncontrolling interests adjustments to redemption value	(11.4)		(11.4)			(11.4)
Ending balance, shares at Sep. 30, 2021				83.1	141.6
Ending balance at Sep. 30, 2021	$ 2,750.4		$ 2,748	$ 665.9	$ 2,314.3	$ (143)	$ (89.2)	$ 2.4	[1]
[1]	Excludes redeemable noncontrolling interests, which are reflected in temporary equity (see Note 8).
[2]	Excludes redeemable noncontrolling interests, which are reflected in temporary equity (see Note 8).

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net income (loss)	$ (48.5)	$ 24.5
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	87.8	97.1
Amortization of films and television programs and program rights	730.1	531.4
Amortization of debt financing costs and other non-cash interest	24.2	18.5
Non-cash share-based compensation	54.9	40.1
Other amortization	50.5	32.2
Loss on extinguishment of debt	27.1	0
Equity interests (income) loss	(1.1)	4.5
Loss (gain) on investments	(1.5)	(0.4)
Deferred income taxes	1.7	0
Changes in operating assets and liabilities:
Accounts receivable, net and other assets	(134.2)	150.6
Investment in films and television programs and program rights, net	(1,149.7)	(467.1)
Accounts payable and accrued liabilities	(45.2)	(94.9)
Participations and residuals	5	(85.1)
Program rights and other film obligations	(35.8)	(46.7)
Deferred revenue	102.2	(1.2)
Net Cash Flows Provided By (Used In) Operating Activities	(332.5)	203.5
Investing Activities:
Proceeds from the sale of Pantaya	123.6	0
Proceeds from the sale of other investments	0	5.1
Investment in equity method investees and other	(9.4)	(0.2)
Acquisition of assets (film library and related assets)	(161.4)	0
Capital expenditures	(14.6)	(17.1)
Net Cash Flows Used In Investing Activities	(61.8)	(12.2)
Financing Activities:
Debt - borrowings, net of debt issuance and redemption costs	1,947.2	75
Debt - repurchases and repayments	(2,175.6)	(109.1)
Production and related loans - borrowings, net of debt issuance costs	562.1	47.8
Production and related loans - repayments	(186.6)	(44.1)
IP Credit Facility and other financing advances, net of debt issuance costs	213.6	0
Interest rate swap settlement payments	(14.4)	(8.5)
Repurchase of common shares	0	(2.2)
Distributions to noncontrolling interest	(0.1)	(2)
Exercise of stock options	2.9	0
Tax withholding required on equity awards	(33.2)	(5.4)
Net Cash Flows Provided By (Used In) Financing Activities	315.9	(48.5)
Net Change In Cash, Cash Equivalents and Restricted Cash	(78.4)	142.8
Foreign Exchange Effects on Cash, Cash Equivalents and Restricted Cash	(2.5)	2.7
Cash, Cash Equivalents and Restricted Cash - Beginning Of Period	528.7	318.2
Cash, Cash Equivalents and Restricted Cash - End Of Period	$ 447.8	$ 463.7

General

General	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Nature of Operations Combining the STARZ premium global subscription platform with world-class motion picture and television studio operations, Lions Gate Entertainment Corp. (the “Company,” “Lionsgate,” "Lions Gate," “we,” “us” or “our”) brings a unique and varied portfolio of entertainment to consumers around the world. Its film, television, subscription and location-based entertainment businesses are backed by a 17,000-title library and one of the largest collections of film and television franchises in the independent media space. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and six months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2022. The balance sheet at March 31, 2021 has been derived from the audited financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021. Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, including the potential impacts arising from the COVID-19 global pandemic, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs and licensed program rights; estimates of sales returns; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; fair value of assets and liabilities for allocation of the purchase price of companies acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; and impairment assessments for investment in films and television programs and licensed program rights, property and equipment, equity investments, goodwill and intangible assets. Actual results could differ from such estimates. Recent Accounting Pronouncements Accounting Guidance Adopted in Fiscal 2022 Reference Rate Reform: In March 2020, the Financial Accounting Standards Board ("FASB") issued guidance which provides optional expedients and exceptions for applying U.S. GAAP to contract modifications, hedging relationships, and other transactions affected by the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, if certain criteria are met. Additionally, in January 2021, the FASB issued additional guidance, which allows entities to elect certain optional expedients and exceptions when accounting for derivative contracts and certain hedging relationships affected by changes in the interest rates. The guidance is applicable to contract modifications made and hedging relationships entered into between March 12, 2020 and December 31, 2022. The Company adopted this guidance on July 1, 2021 and is applying its provisions prospectively through December 31, 2022, with no material impact to the Company’s consolidated financial statements. See Note 16 for further information.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Spyglass. On July 15, 2021, the Company purchased approximately 200 feature film titles (the "Spyglass Library") from Spyglass Media Group, LLC ("Spyglass"). The Company also formed a strategic content partnership through an investment of a 18.9% preferred equity interest in Spyglass, and entered into a multiyear first-look television arrangement with Spyglass. The purchase price, including acquisition costs, of the Spyglass Library and preferred equity interest was $191.4 million, of which $171.4 million was paid at closing and $20.0 million will be paid over the next two years. The Spyglass Library was accounted for as an asset acquisition and is included in investment in film and television programs on our unaudited condensed consolidated balance sheet. The preferred equity interest was accounted for as an equity-method investment (see Note 4).

Investment In Films and Televis

Investment In Films and Television Programs and Licensed Program Rights	6 Months Ended
	Sep. 30, 2021
Investment In Films And Television Programs and Program Rights [Abstract]
Investment In Films and Television Programs and Licensed Program Rights	Investment in Films and Television Programs and Licensed Program Rights Total investment in films and television programs and licensed program rights by predominant monetization strategy is as follows: September 30, March 31, (Amounts in millions) Investment in Films and Television Programs: Individual Monetization Released, net of accumulated amortization $ 516.5 $ 414.7 Completed and not released 24.0 60.3 In progress 743.1 418.7 In development 97.8 92.9 1,381.4 986.6 Film Group Monetization Released, net of accumulated amortization 403.5 200.4 Completed and not released — — In progress 581.1 497.1 In development 22.9 28.2 1,007.5 725.7 Licensed program rights, net of accumulated amortization 399.2 510.4 Investment in films and television programs and licensed program rights, net $ 2,788.1 $ 2,222.7 At September 30, 2021, acquired film and television libraries have remaining unamortized costs of $157.5 million, which are monetized individually and are being amortized using the individual-film-forecast method over a remaining period of approximately 19.7 years (March 31, 2021 - unamortized costs of $18.3 million). Amortization of investment in film and television programs and licensed program rights by predominant monetization strategy is as follows for the three and six months ended September 30, 2021 and 2020, and was included in direct operating expense in the unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Amortization expense: Individual monetization $ 183.7 $ 106.3 $ 419.5 $ 228.8 Film group monetization 88.6 66.4 120.7 114.6 Licensed program rights 86.7 77.5 189.9 188.0 $ 359.0 $ 250.2 $ 730.1 $ 531.4 Impairments. Investment in films and television programs and licensed program rights includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Impairments by segment: Motion Picture $ 0.1 $ 0.3 $ 0.1 $ 0.9 Television Production 1.6 2.8 26.6 2.8 Impairments not included in segment operating results (1) — 15.4 — 15.4 $ 1.7 $ 18.5 $ 26.7 $ 19.1 ________________________

Investments

Investments	6 Months Ended
	Sep. 30, 2021
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments	Investments The Company's investments consisted of the following: September 30, March 31, (Amounts in millions) Investments in equity method investees $ 58.8 $ 30.1 Other investments 2.3 1.8 $ 61.1 $ 31.9 Equity Method Investments: The Company has investments in various equity method investees with ownership percentages ranging from approximately 9% to 49%. These investments include: STARZPLAY Arabia. STARZPLAY Arabia (Playco Holdings Limited) offers a STARZ-branded online subscription video-on-demand service in the Middle East and North Africa. Roadside Attractions . Roadside Attractions is an independent theatrical distribution company. Pantelion Films. Pantelion Films is a joint venture with Videocine, an affiliate of Televisa, which produces, acquires and distributes a slate of English and Spanish language feature films that target Hispanic moviegoers in the U.S. Atom Tickets. Atom Tickets is the first-of-its-kind theatrical mobile ticketing platform and app. Great Point Opportunity Fund. Great Point Opportunity Fund is a partnership to make investments in an operating company that will operate a studio facility in Yonkers, New York. Spyglass. Spyglass is a global premium content company, focused on developing, producing, financing and acquiring motion pictures and television programming across all platforms for worldwide audiences. Other. In addition to the equity method investments discussed above, the Company holds ownership interests in other immaterial equity method investees. Summarized Financial Information. Summarized financial information for the Company's equity method investees on an aggregate basis is set forth below: September 30, March 31, (Amounts in millions) Current assets $ 110.1 $ 135.2 Non-current assets $ 91.1 $ 177.7 Current liabilities $ 208.6 $ 201.1 Non-current liabilities $ 59.8 $ 91.7 Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Revenues $ 22.8 $ 22.3 $ 37.1 $ 46.8 Gross profit $ 4.8 $ 7.1 $ 8.7 $ 13.8 Net loss $ (8.7) $ (16.1) $ (19.9) $ (33.8) Gain (Loss) on Investments: The following table summarizes the components of the gain (loss) on investments: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Unrealized gains (losses) on equity securities $ (0.2) $ 0.3 $ (0.7) $ 0.8 Impairments of other investments (1) — (5.0) — (5.0) Gain on sale of other investments and other investment gains 1.7 — 2.2 4.6 $ 1.5 $ (4.7) $ 1.5 $ 0.4 ________________________

Debt

Debt	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Total debt of the Company, excluding film related and other obligations, was as follows as of September 30, 2021 and March 31, 2021: September 30, March 31, (Amounts in millions) Corporate debt: Revolving Credit Facility $ — $ — Term Loan A: 2023 Term Loan A 204.3 660.0 2026 Term Loan A 444.9 — Term Loan B 850.4 952.6 5.500% Senior Notes 1,000.0 — 5.875% Senior Notes — 518.7 6.375% Senior Notes — 545.6 Total corporate debt 2,499.6 2,676.9 Unamortized debt issuance costs (64.6) (46.0) Total debt, net 2,435.0 2,630.9 Less current portion (40.0) (88.0) Non-current portion of debt $ 2,395.0 $ 2,542.9 Fiscal 2022 Debt Transactions: Senior Notes Redemption and Issuance. On April 1, 2021, the Company redeemed in full all $518.7 million outstanding principal amount of its 5.875% Senior Notes due November 2024 ("5.875% Senior Notes") and all $545.6 million outstanding principal amount of its 6.375% Senior Notes due February 2024 ("6.375% Senior Notes"). In connection with the early redemption of the 5.875% Senior Notes and the 6.375% Senior Notes, the Company paid a prepayment premium of $15.2 million and $17.4 million, respectively, plus accrued and unpaid interest to the date of redemption, pursuant to the terms of the indentures governing the 5.875% Senior Notes and the 6.375% Senior Notes, respectively. In connection with the redemption of the 5.875% Senior Notes and the 6.375% Senior Notes, on April 1, 2021, the Company issued $1.0 billion aggregate principal amount of 5.500% Senior Notes due April 15, 2029 ("5.500% Senior Notes"). Credit Agreement Amendment. On April 6, 2021, the Company amended its credit and guarantee agreement dated December 8, 2016, as amended (the "Credit Agreement") to, among other things, extend the maturity (the "Extension") of a portion of its revolving credit commitments, amounting to $1.25 billion (the "2026 Revolving Credit Facility"), and a portion of its outstanding term A loans, amounting to $444.9 million (the "2026 Term Loan A"), to April 6, 2026, and make certain other changes to the covenants and other provisions therein. After giving effect to the Extension, $250.0 million of revolving credit commitments (the "2023 Revolving Credit Facility and together with the 2026 Revolving Credit Facility, the "Revolving Credit Facility") and $215.1 million of term A loans (the "2023 Term Loan A", and together with the 2026 Term Loan A, the "Term Loan A") remained outstanding with a maturity of March 22, 2023. Term Loan B Repurchases. During the three months ended September 30, 2021, the Company completed a series of repurchases of the Term Loan B and, in aggregate, paid $44.2 million to repurchase $44.5 million principal amount of the Term Loan B (six months ended September 30, 2021 - in aggregate paid $95.3 million to repurchase $96.0 million principal amount of the Term Loan B). See the Loss on Extinguishment of Debt section further below for a description of the accounting for these transactions. Termination of a Portion of Revolving Credit Facility Commitments. Subsequent to September 30, 2021, in November 2021, the Company terminated its revolving credit commitments under its 2023 Revolving Credit Facility, amounting to $250.0 million (the "Termination"). After giving effect to the Termination, the Company's remaining revolving credit commitments under its Credit Agreement amounted to $1.25 billion under the 2026 Revolving Credit Facility (see Note 18). Senior Credit Facilities (Revolving Credit Facility, Term Loan A and Term Loan B) Revolving Credit Facility Availability of Funds & Commitment Fee. As of September 30, 2021, the Revolving Credit Facility provides for borrowings and letters of credit up to an aggregate of $1.5 billion, and at September 30, 2021 there was $1.5 billion available. However, borrowing levels are subject to certain financial covenants as discussed below. There were no letters of credit outstanding at September 30, 2021. The Company is required to pay a quarterly commitment fee on the Revolving Credit Facility of 0.250% to 0.375% per annum, depending on the achievement of certain leverage ratios, as defined in the Credit Agreement, on the total Revolving Credit Facility of $1.5 billion less the amount drawn. Maturity Date: • Revolving Credit Facility: As of September 30, 2021, a portion of the revolving credit commitments, amounting to $1.25 billion, matures April 6, 2026, and a portion of the revolving credit commitments, amounting to $250.0 million, matures March 22, 2023. See Termination of a Portion of Revolving Credit Facility Commitments section above and Note 18 - Subsequent Events. • Term Loan A: ◦ 2023 Term Loan A: March 22, 2023. ◦ 2026 Term Loan A: April 6, 2026. • Term Loan B: March 24, 2025. Interest: • Revolving Credit Facility & Term Loan A: The Revolving Credit Facility and Term Loan A bear interest at a rate per annum equal to LIBOR plus 1.75% (or an alternative base rate plus 0.75%) margin, with a LIBOR floor of zero. The margin is subject to potential increases of up to 50 basis points (two (2) increases of 25 basis points each) upon certain increases to net first lien leverage ratios, as defined in the Credit Agreement (effective interest rate of 1.83% as of September 30, 2021, before the impact of interest rate swaps). • Term Loan B: The Term Loan B bears interest at a rate per annum equal to LIBOR plus 2.25% margin, with a LIBOR floor of zero (or an alternative base rate plus 1.25% margin) (effective interest rate of 2.33% as of September 30, 2021, before the impact of interest rate swaps). Required Principal Payments: • Term Loan A: ◦ 2023 Term Loan A: Quarterly principal payments, at quarterly rates of 1.25% beginning June 30, 2019, 1.75% beginning June 30, 2020, and 2.50% beginning June 30, 2021 through December 31, 2022, with the balance payable at maturity. ◦ 2026 Term Loan A: Quarterly principal payments beginning September 30, 2022 at a quarterly rate of 1.25%, then at quarterly rates of 1.75% beginning September 30, 2023, and 2.50% beginning September 30, 2024 through March 31, 2026, with the balance payable at maturity. • Term Loan B: Quarterly principal payments at a quarterly rate of 0.25%, with the balance payable at maturity. The Term Loan A and Term Loan B also require mandatory prepayments in connection with certain asset sales, subject to certain significant exceptions, and the Term Loan B is subject to additional mandatory repayment from specified percentages of excess cash flow, as defined in the Credit Agreement. Optional Prepayment: • Revolving Credit Facility & Term Loan A: The Company may voluntarily prepay the Revolving Credit Facility and Term Loan A at any time without premium or penalty. • Term Loan B: The Company may voluntarily prepay the Term Loan B at any time. Security. The Senior Credit Facilities are guaranteed by the Guarantors (as defined in the Credit Agreement) and are secured by a security interest in substantially all of the assets of Lionsgate and the Guarantors (as defined in the Credit Agreement), subject to certain exceptions. Covenants. The Senior Credit Facilities contain representations and warranties, events of default and affirmative and negative covenants that are customary for similar financings and which include, among other things and subject to certain significant exceptions, restrictions on the ability to declare or pay dividends, create liens, incur additional indebtedness, make investments, dispose of assets and merge or consolidate with any other person. In addition, a net first lien leverage maintenance covenant and an interest coverage ratio maintenance covenant apply to the Revolving Credit Facility and the Term Loan A and are tested quarterly. As of September 30, 2021, the Company was in compliance with all applicable covenants. Change in Control. The Company may also be subject to an event of default upon a change in control (as defined in the Credit Agreement) which, among other things, includes a person or group acquiring ownership or control in excess of 50% of the Company’s common shares. Potential Impact of LIBOR Transition. The Chief Executive of the U.K. Financial Conduct Authority (the “FCA”), which regulates the LIBOR has announced that the FCA will no longer persuade or compel banks to submit rates for the calculation of LIBOR after the end of 2021. For U.S dollar LIBOR, publication of the one-week and two-month LIBOR settings will cease after December 31, 2021, and publication of the overnight and 12-month LIBOR settings will cease after June 30, 2023. Immediately after June 30, 2023, the one-month, three-month and six-month U.S. dollar LIBOR settings will no longer be representative. Given these changes, the LIBOR administrator has advised that no new contracts using U.S. dollar LIBOR should be entered into after December 31, 2021. It is also possible that U.S. LIBOR will be discontinued or modified prior to June 30, 2023. Under the terms of the Company's Credit Agreement, in the event of the discontinuance of LIBOR, a mutually agreed-upon alternate benchmark rate will be established to replace LIBOR. The Company and Lenders (as defined in the Credit Agreement) shall, in good faith, endeavor to establish an alternate benchmark rate that gives due consideration to prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and which places the Lenders and the Company in the same economic position that existed immediately prior to the discontinuation of LIBOR. The Company does not anticipate that the discontinuance or modification of LIBOR will materially impact its liquidity or financial position. 5.500% Senior Notes Interest: Bears interest at 5.500% annually (payable semi-annually in arrears on April 15 and October 15 of each year, commencing on October 15, 2021). Maturity Date: April 15, 2029. Optional Redemption: (i) Prior to April 15, 2024, the Company may redeem the 5.500% Senior Notes in whole at any time, or in part from time to time, at a price equal to 100% of the principal amount of the notes to be redeemed plus a "make-whole" premium, plus accrued and unpaid interest, if any, to, but not including, the redemption date. The make-whole premium is the greater of (i) 1.0% of the principal amount redeemed and (ii) the excess, if any, of the present value at such redemption date of the redemption price at April 15, 2024 (see redemption prices below) plus interest through April 15, 2024 (discounted to the redemption date at the treasury rate plus 50 basis points) over the principal amount of the notes redeemed on the redemption date. (ii) On or after April 15, 2024, the Company may redeem the 5.500% Senior Notes in whole at any time, or in part from time to time, at certain specified redemption prices, plus accrued and unpaid interest, if any, to, but not including, the redemption date. Such redemption prices are as follows (as a percentage of the principal amount redeemed): (i) on or after April 15, 2024 - 102.750%; (ii) on or after April 15, 2025 - 101.375%; and (iii) on or after April 15, 2026 - 100%. In addition, the Company may redeem up to 40% of the aggregate principal amount of the notes at any time and from time to time prior to April 15, 2024 with the net proceeds of certain equity offerings at a price of 105.500% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the redemption date. Security. The 5.500% Senior Notes are unsubordinated, unsecured obligations of the Company. Covenants. The 5.500% Senior Notes contain certain restrictions and covenants that, subject to certain exceptions, limit the Company’s ability to incur additional indebtedness, pay dividends or repurchase the Company’s common shares, make certain loans or investments, and sell or otherwise dispose of certain assets subject to certain conditions, among other limitations. As of September 30, 2021, the Company was in compliance with all applicable covenants. Change in Control. The occurrence of a change of control will be a triggering event requiring the Company to offer to purchase from holders all of the 5.500% Senior Notes, at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the date of purchase. In addition, certain asset dispositions will be triggering events that may require the Company to use the excess proceeds from such dispositions to make an offer to purchase the 5.500% Senior Notes at 100% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. Capacity to Pay Dividends At September 30, 2021, the capacity to pay dividends under the Senior Credit Facilities and the 5.500% Senior Notes significantly exceeded the amount of the Company's accumulated deficit or net loss, and therefore the Company's net loss of $48.5 million and accumulated deficit of $143.0 million were deemed free of restrictions from paying dividends at September 30, 2021. Loss on Extinguishment of Debt Accounting for the Fiscal 2022 Debt Transactions Discussed Above: Revolving Credit Facility. • Unamortized debt issuance costs: Where the borrowing capacity (measured as the amount available under the revolving credit facility multiplied by the remaining term) was less than it was prior to the amendment to the Revolving Credit Facility on April 6, 2021, on a creditor-by-creditor basis, the unamortized debt issuance costs were written off as a loss on extinguishment of debt in proportion to the decrease in borrowing capacity. The remaining unamortized debt issuance costs were allocated between the 2023 and 2026 Revolving Credit Facility in proportion to the borrowing capacity of each facility and are being amortized over the respective terms of the 2023 and 2026 Revolving Credit Facility, as applicable. • Fees paid to creditors and third-party costs: All fees paid to creditors or third parties (i.e., new debt issuance costs) were recorded as a reduction of amounts outstanding under the 2026 Revolving Credit Facility and are being amortized over the term of the 2026 Revolving Credit Facility. Term Loan A. With respect to substantially all creditors participating in the Term Loan A, the amendment was considered a modification of terms since the present value of the cash flows after the amendment differed by less than a 10% change from the present value of the cash flows on a creditor-by-creditor basis prior to the amendment. Accordingly, the associated costs were accounted for as follows: • Unamortized debt issuance costs: Previously incurred unamortized debt issuance costs and fees were allocated between the 2023 Term Loan A and the 2026 Term Loan A based on the relative balances outstanding after the amendment and are being amortized over the respective terms of the 2023 Term Loan A and 2026 Term Loan A. To the extent there was a reduction of the outstanding balance on a creditor-by-creditor basis (i.e., a partial prepayment of debt), previously incurred unamortized debt issuance costs and fees were expensed as a loss on extinguishment of debt on the unaudited condensed consolidated statement of operations. • Fees paid to creditors: Certain fees were paid to creditors based on their 2026 Term Loan A participation. These fees paid to creditors were recorded as a reduction of amounts outstanding under the 2026 Term Loan A and are being amortized over the term of the 2026 Term Loan A. • Third-party costs: Substantially all third-party costs were expensed as a result of the modification and included in loss on extinguishment of debt in the unaudited condensed consolidated statement of operations. Senior Notes. In accounting for the issuance and redemption of the 5.875% and 6.375% Senior Notes as discussed above, a portion of the Senior Notes redemption and issuance was considered a modification of terms with creditors who participated in both the redeemed Senior Notes and new 5.500% Senior Notes, a portion was considered a debt extinguishment, and a portion represented new issuances to new creditors, and the debt issuance costs were accounted for as follows: • Unamortized debt issuance costs: Previously incurred unamortized debt issuance costs and fees on the redeemed Senior Notes are being amortized over the term of the new Senior Notes, to the extent considered a modification of terms, and expensed as a loss on extinguishment of debt to the extent considered an extinguishment. To the extent there was a reduction of the outstanding balance on a creditor-by-creditor basis (i.e., a partial prepayment of debt), previously incurred unamortized debt issuance costs and fees were expensed as a loss on extinguishment of debt on the unaudited condensed consolidated statement of operations. • Fees paid to creditors: Fees paid to creditors or call premiums were recorded as a reduction of amounts outstanding under the new Senior Notes and are being amortized over the term of the new Senior Notes, to the extent considered a modification of terms or associated with new issuances to new creditors, and expensed as a loss on extinguishment of debt to the extent considered an extinguishment or a partial prepayment of debt. • Third-party costs: Costs incurred with third parties were recorded as a reduction of amounts outstanding under the new Senior Notes and will be amortized over the term of the new Senior Notes, to the extent considered an extinguishment or associated with new issuances to new creditors, and expensed as a loss on extinguishment of debt to the extent considered a modification of terms. For all of the above transactions, debt issuance costs recorded as a reduction of outstanding debt are amortized using the effective interest method. Term Loan B. In connection with the repurchases of the Term Loan B discussed above, during the three and six months ended September 30, 2021, the Company recorded a loss on extinguishment of debt of nil and $0.2 million, respectively, related to the write-off of debt issuance costs. Loss on Extinguishment of Debt. During the six months ended September 30, 2021, the Company recorded a loss on extinguishment of debt related to the transactions described above, as summarized in the table below (three months ended September 30, 2021 - loss on extinguishment of debt of $0.4 million; three and six months ended September 30, 2020 - none): Six Months Ended Loss on Extinguishment of Debt Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances Total (Amounts in millions) Revolving Credit Facility, Term Loan A and Senior Notes: New debt issuance costs and call premiums $ 21.2 $ 31.0 $ 52.2 Previously incurred debt issuance costs 5.2 31.1 36.3 $ 26.4 $ 62.1 $ 88.5 Loss on Term Loan B repurchases and other 0.7 Total loss on extinguishment of debt $ 27.1

Film Related and Other Obligati

Film Related and Other Obligations	6 Months Ended
	Sep. 30, 2021
Film Related And Other Obligations [Abstract]
Film Related and Other Obligations	Film Related and Other Obligations September 30, March 31, (Amounts in millions) Program rights and film obligations $ 178.8 $ 214.6 Production and related loans 871.9 493.5 IP Credit Facility and other financing obligations 215.0 — Total film related and other obligations 1,265.7 708.1 Unamortized debt issuance costs (7.1) (4.6) Total film related and other obligations, net 1,258.6 703.5 Less current portion (546.4) (385.0) Total non-current film related and other obligations $ 712.2 $ 318.5 Program Rights and Film Obligations Program rights and film obligations include minimum guarantees and accrued licensed program rights obligations, which represent amounts payable for film or television rights that the Company has acquired or licensed and certain theatrical marketing obligations for amounts received from third parties that are contractually committed for theatrical marketing expenditures associated with specific titles. Production and Related Loans Production and related loans include individual loans for the production or license of film and television programs that the Company produces or licenses and the Company's Production Tax Credit Facility (as defined below). Individual Loans . The majority of the Company's individual production and related loans have contractual repayment dates either at or near the expected completion date, with the exception of certain loans containing repayment dates on a longer term basis, and incur LIBOR-based interest at rates ranging from 1.93% to 3.11% (before the impact of interest rate swaps, see Note 16 for interest rate swaps). Production Tax Credit Facility. In January 2021, as amended on March 31, 2021, the Company entered into a non-recourse senior secured revolving credit facility (the "Production Tax Credit Facility") based on collateral consisting of certain of the Company’s tax credit receivables. The maximum principal amount of the Production Tax Credit Facility is $220.0 million, subject to the amount of collateral available, which is based on specified percentages of amounts payable to the Company by governmental authorities pursuant to the tax incentive laws of certain eligible jurisdictions that arise from the production or exploitation of motion pictures and television programming in such jurisdiction. Advances under the Production Tax Credit Facility bear interest at a rate equal to, at the Company’s option, LIBOR plus 1.50% per annum or the base rate plus 0.50% per annum (effective interest rate of 1.58% at September 30, 2021). The Production Tax Credit Facility matures on January 27, 2025. As of September 30, 2021, there was $205.8 million outstanding under the Production Tax Credit Facility, and there were no additional amounts available under the Production Tax Credit Facility (March 31, 2021 - $120.0 million outstanding). IP Credit Facility and Other Financing Obligations IP Credit Facility. In July 2021, as amended on September 30, 2021, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "IP Credit Facility") based on the collateral consisting solely of certain of the Company’s rights in certain library titles, including the Spyglass and other recently acquired libraries. The maximum principal amount of the IP Credit Facility is $140.0 million, subject to the amount of collateral available, which is based on the valuation of cash flows from the libraries. The cash flows generated from the exploitation of the rights will be applied to repay the IP Credit Facility subject to cumulative minimum guaranteed payment amounts as set forth below: Cumulative Period Through: Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2022 $26.3 November 14, 2022 September 30, 2023 $52.5 November 14, 2023 September 30, 2024 $78.8 November 14, 2024 September 30, 2025 $105.0 November 14, 2025 July 30, 2026 $140.0 July 30, 2026 Advances under the IP Credit Facility bear interest at a rate equal to, at the Company’s option, LIBOR plus 2.25% per annum or the base rate plus 1.25% per annum (effective interest rate of 2.50% at September 30, 2021). The IP Credit Facility matures on July 30, 2026. As of September 30, 2021, there was $140.0 million outstanding under the IP Credit Facility. Other Financing Obligations. Other financing obligations include financing collateralized by certain contractual payments to be received in the future.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Accounting guidance and standards about fair value define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair Value Hierarchy Fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The accounting guidance and standards establish three levels of inputs that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of September 30, 2021 and March 31, 2021: September 30, 2021 March 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Available-for-sale equity securities $ 0.7 $ — $ 0.7 $ 1.8 $ — $ 1.8 Forward exchange contracts (see Note 16) — 2.1 2.1 — 1.5 1.5 Interest rate swaps (see Note 16) (1) — 120.4 120.4 — 149.0 149.0 Liabilities: Forward exchange contracts (see Note 16) — (2.6) (2.6) — (2.6) (2.6) Interest rate swaps (see Note 16) — (72.9) (72.9) — (78.4) (78.4) ________________ (1) Amounts at September 30, 2021 and March 31, 2021 exclude $93.1 million and $98.2 million, respectively, of financing component of interest rate swaps presented in the table below. The following table sets forth the carrying values and fair values of the Company’s outstanding debt, production and related loans, IP Credit Facility and other financing obligations, and interest rate swaps at September 30, 2021 and March 31, 2021: September 30, 2021 March 31, 2021 (Amounts in millions) Carrying Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Term Loan A $ 641.3 $ 620.8 $ 651.4 $ 647.6 Term Loan B 842.7 844.0 942.8 936.0 5.500% Senior Notes 963.8 1,027.5 — — 5.875% Senior Notes — — 506.7 533.9 6.375% Senior Notes — — 540.8 563.0 Production and related loans 867.5 871.9 489.0 493.5 IP Credit Facility and other financing obligations 212.3 215.0 — — Financing component of interest rate swaps (2) 143.3 136.6 152.5 144.7 ________________ (1) The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, swap rates, and credit ratings (Level 2 measurements). (2) Amounts at September 30, 2021 and March 31, 2021 include $93.1 million and $98.2 million, respectively, recorded as a reduction of assets under master netting arrangements. The Company’s financial instruments also include cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, other liabilities, and borrowings under the Revolving Credit Facility, if any. The carrying values of these financial instruments approximated the fair values at September 30, 2021 and March 31, 2021.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Redeemable Noncontrolling Interests The table below presents the reconciliation of changes in redeemable noncontrolling interests: Six Months Ended September 30, 2021 2020 (Amounts in millions) Beginning balance $ 219.1 $ 167.8 Net loss attributable to redeemable noncontrolling interests (10.6) (8.4) Noncontrolling interests discount accretion 12.6 11.5 Adjustments to redemption value 22.2 13.4 Cash distributions (0.1) (2.0) Ending balance $ 243.2 $ 182.3 Redeemable noncontrolling interests (included in temporary equity on the unaudited condensed consolidated balance sheets) relate to the November 12, 2015 acquisition of a controlling interest in Pilgrim Media Group and the May 29, 2018 acquisition of a controlling interest in 3 Arts Entertainment. 3 Arts Entertainment. The noncontrolling interest holders have a right to put the noncontrolling interest of 3 Arts Entertainment, at fair value, exercisable at five years after the acquisition date of May 29, 2018, for a 60 day period. Beginning 30 days after the expiration of the exercise period for the put rights held by the noncontrolling interest holders, the Company has a right to call the noncontrolling interest of 3 Arts Entertainment, at fair value, for a 60 day period. Pilgrim Media Group. Pursuant to an amendment dated April 2, 2021, the put and call rights associated with the Pilgrim Media Group noncontrolling interest were extended and modified, such that the noncontrolling interest holder has a right to put and the Company has a right to call a portion of the noncontrolling interest, equal to 25% of Pilgrim Media Group, at fair value, exercisable for thirty (30) days beginning November 12, 2022. In addition, the noncontrolling interest holder has a right to put and the Company has a right to call the remaining amount of noncontrolling interest at fair value, subject to a cap, exercisable for thirty (30) days beginning November 12, 2024, as amended. In addition, the noncontrolling interest holder is the President and CEO of Pilgrim Media Group. Pursuant to the original operating agreement of Pilgrim Media Group, if the employment of the noncontrolling interest holder was terminated, under certain circumstances as defined in the operating agreement, the Company could call and the noncontrolling interest holder could put the noncontrolling interest at a discount to fair value, which was being expensed over the call periods in the original operating agreement. Pursuant to the amendment to the operating agreement on April 2, 2021, this discount was eliminated and therefore the remaining unamortized discount of $2.7 million was expensed in the quarter ended June 30, 2021. The amortization of the discount through June 30, 2021 was included in general and administrative expense of Pilgrim Media Group and reflected as an addition to redeemable noncontrolling interest. Redeemable noncontrolling interests are measured at the greater of (i) the redemption amount that would be paid if settlement occurred at the balance sheet date less the amount attributed to unamortized noncontrolling interest discount if applicable, or (ii) the historical value resulting from the original acquisition date value plus or minus any earnings or loss attribution, plus the amount of amortized noncontrolling interest discount, less the amount of cash distributions that are not accounted for as compensation, if any. The amount of the redemption value in excess of the historical values of the noncontrolling interest, if any, is recognized as an increase to redeemable noncontrolling interest and a charge to retained earnings or accumulated deficit. Other Noncontrolling Interests

Revenue

Revenue	6 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company's Motion Picture and Television Production segments generate revenue principally from the licensing of content in domestic theatrical exhibition, home entertainment (e.g., digital media and packaged media), television, and international market places. The Company's Media Networks segment generates revenue primarily from the distribution of the Company's STARZ branded premium subscription video services. Revenue by Segment, Market or Product Line The table below presents revenues by segment, market or product line for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 16.0 $ — $ 44.4 $ 0.3 Home Entertainment Digital Media 129.8 116.1 242.0 243.9 Packaged Media 31.2 33.9 65.2 73.5 Total Home Entertainment 161.0 150.0 307.2 317.4 Television 90.9 59.1 141.6 117.6 International 59.3 45.5 122.1 97.9 Other 3.7 3.0 6.8 5.1 Total Motion Picture revenues 330.9 257.6 622.1 538.3 Television Production Television 228.2 116.7 500.4 212.6 International 57.0 47.9 124.4 94.3 Home Entertainment Digital Media 33.2 15.9 57.8 61.8 Packaged Media 1.0 1.1 3.2 1.8 Total Home Entertainment 34.2 17.0 61.0 63.6 Other 16.6 15.6 36.3 22.4 Total Television Production revenues 336.0 197.2 722.1 392.9 Media Networks - Programming Revenues Domestic (1) 358.6 374.1 716.7 731.3 International 26.1 14.2 50.3 24.2 384.7 388.3 767.0 755.5 Intersegment eliminations (163.8) (98.1) (322.2) (128.0) Total revenues $ 887.8 $ 745.0 $ 1,789.0 $ 1,558.7 ___________________ (1) Media Networks domestic revenues for the three and six months ended September 30, 2020 included revenue from the Company's former Other Streaming Services product line of $13.3 million and $24.8 million, respectively, substantially all of which related to the Company's former interest in Pantaya, which was sold on March 31, 2021 (see Note 2). Remaining Performance Obligations Remaining performance obligations represent deferred revenue on the balance sheet plus fixed fee or minimum guarantee contracts where the revenue will be recognized and the cash received in the future (i.e., backlog). Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2021 are as follows: Rest of Year Ending March 31, 2022 Year Ending March 31, 2023 2024 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 711.7 $ 470.5 $ 152.1 $ 305.7 $ 1,640.0 The above table does not include estimates of variable consideration for transactions involving sales or usage-based royalties in exchange for licenses of intellectual property. The revenues included in the above table include all fixed fee contracts regardless of duration. Revenues of $60.0 million and $132.8 million, respectively, including variable and fixed fee arrangements, were recognized during the three and six months ended September 30, 2021, from performance obligations satisfied prior to March 31, 2021. These revenues were primarily associated with the distribution of television and theatrical product in electronic sell-through and video-on-demand formats, and to a lesser extent, the distribution of theatrical product in the domestic and international markets related to films initially released in prior periods. Accounts Receivable, Contract Assets and Deferred Revenue The timing of revenue recognition, billings and cash collections affects the recognition of accounts receivable, contract assets and deferred revenue. At September 30, 2021 and March 31, 2021, accounts receivable, contract assets and deferred revenue are as follows. Item Balance Sheet Location September 30, March 31, Addition (Reduction) (Amounts in millions) Accounts receivable, net - current Accounts receivable, net $ 419.3 $ 383.7 $ 35.6 Accounts receivable, net - non-current Other assets - non-current 42.7 49.4 (6.7) Contract asset - current Other assets - current (1) 29.6 25.6 4.0 Contract asset - non-current Other assets - non-current (1) 13.7 10.3 3.4 Deferred revenue - current Deferred revenue - current 276.7 165.7 111.0 Deferred revenue - non-current Deferred revenue - non-current 49.0 56.2 (7.2) __________________ (1) Included in prepaid expenses and other (see Note 17). Accounts Receivable. Accounts receivable are presented net of a provision for doubtful accounts. The Company estimates provisions for accounts receivable based on historical experience for the respective risk categories and current and future expected economic conditions. To assess collectibility, the Company analyzes market trends, economic conditions, the aging of receivables and customer specific risks, and records a provision for estimated credit losses expected over the lifetime of the receivables in direct operating expense. The Company performs ongoing credit evaluations and monitors its credit exposure through active review of customers' financial condition, aging of receivable balances, historical collection trends, and expectations about relevant future events that may significantly affect collectibility. The Company generally does not require collateral for its trade accounts receivable. Changes in the provision for doubtful accounts consisted of the following: March 31, 2021 (Benefit) provision for doubtful accounts (1) Uncollectible accounts written-off September 30, 2021 (Amounts in millions) Trade accounts receivable $ 6.5 $ (0.6) $ (0.1) $ 5.8 _______________________ (1) Represents collections on accounts receivable previously reserved. Contract Assets. Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Amounts relate primarily to contractual payment holdbacks in cases in which the Company is required to deliver additional episodes or seasons of television content in order to receive payment, complete certain administrative activities, such as guild filings, or allow the Company's customers' audit rights to expire. Deferred Revenue. Deferred revenue relates primarily to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Revenues of $42.9 million and $107.0 million, respectively, were recognized during the three and six months ended September 30, 2021 related to the balance of deferred revenue at March 31, 2021.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. Basic net income (loss) per share for the three and six months ended September 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions, except per share amounts) Basic Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders $ 7.5 $ (18.4) $ (37.9) $ 32.7 Denominator: Weighted average common shares outstanding 224.4 220.4 223.1 220.0 Basic net income (loss) per common share $ 0.03 $ (0.08) $ (0.17) $ 0.15 Diluted net income (loss) per common share reflects share purchase options, including share appreciation rights ("SARs"), restricted share units ("RSUs") and restricted stock using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. Diluted net income (loss) per common share for the three and six months ended September 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions, except per share amounts) Diluted Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders $ 7.5 $ (18.4) $ (37.9) $ 32.7 Denominator: Weighted average common shares outstanding 224.4 220.4 223.1 220.0 Effect of dilutive securities: Share purchase options 1.8 — — — Restricted share units and restricted stock 2.3 — — 0.6 Adjusted weighted average common shares outstanding 228.5 220.4 223.1 220.6 Diluted net income (loss) per common share $ 0.03 $ (0.08) $ (0.17) $ 0.15 As a result of the net loss in the six months ended September 30, 2021 and the three months ended September 30, 2020, the dilutive effect of the share purchase options, restricted share units and restricted stock, and contingently issuable shares were considered anti-dilutive and, therefore, excluded from diluted net loss per share. The weighted average anti-dilutive shares excluded from the calculation due to the net loss for the six months ended September 30, 2021 totaled 5.7 million (three months ended September 30, 2020 - 0.9 million). Additionally, for the three and six months ended September 30, 2021 and 2020, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect regardless of net income or loss in the period. Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Anti-dilutive shares issuable Share purchase options 18.6 28.2 16.0 28.0 Restricted share units 1.7 1.4 0.9 2.0 Other issuable shares 2.1 2.6 2.0 3.8 Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share 22.4 32.2 18.9 33.8

Capital Stock

Capital Stock	6 Months Ended
	Sep. 30, 2021
Equity and Share-based Compensation [Abstract]
Capital Stock	Capital Stock (a) Common Shares The Company had 500 million authorized Class A voting shares and 500 million authorized Class B non-voting shares at September 30, 2021 and March 31, 2021. The table below outlines common shares reserved for future issuance: September 30, March 31, (Amounts in millions) Stock options and SARs outstanding 27.3 26.7 Restricted stock and restricted share units — unvested 8.1 9.1 Common shares available for future issuance 18.9 15.6 Shares reserved for future issuance 54.3 51.4 (b) Share-based Compensation On September 14, 2021, the Company’s shareholders approved an amendment to the Lions Gate Entertainment Corp. 2019 Performance Incentive Plan (the “2019 Plan”) previously adopted by the Board of Directors of the Company to increase the maximum number of the Company’s common shares that may be issued or transferred pursuant to awards under the 2019 Plan by an additional 5.0 million shares so that the new aggregate share limit under the 2019 Plan is 21.1 million common shares (not including shares that were originally approved for issuance under the Company’s prior stock incentive plans that have become available for issuance under the 2019 Plan pursuant to the terms of the 2019 Plan). The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Compensation Expense: Stock options $ 2.2 $ 5.0 $ 11.5 $ 9.3 Restricted share units and other share-based compensation 17.1 14.4 40.0 23.3 Share appreciation rights 1.1 3.4 3.4 4.6 20.4 22.8 54.9 37.2 Impact of accelerated vesting on equity awards (1) — 2.8 — 2.8 Total share-based compensation expense $ 20.4 $ 25.6 $ 54.9 $ 40.0 Tax impact (2) (4.3) (5.3) (10.9) (8.2) Reduction in net income $ 16.1 $ 20.3 $ 44.0 $ 31.8 ___________________ (1) Represents the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements. (2) Represents the income tax benefit recognized in the unaudited condensed consolidated statements of operations for share-based compensation arrangements prior to the effects of changes in the valuation allowance. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Share-Based Compensation Expense: Direct operating $ 0.5 $ 0.5 $ 0.5 $ 0.9 Distribution and marketing 0.2 0.2 0.3 0.3 General and administration 19.7 22.1 54.1 36.0 Restructuring and other — 2.8 — 2.8 $ 20.4 $ 25.6 $ 54.9 $ 40.0 The following table sets forth the stock option, SARs, restricted stock and restricted share unit activity during the six months ended September 30, 2021: Stock Options and SARs Restricted Stock and Restricted Share Units Class A Voting Shares Class B Non-Voting Shares Class A Voting Shares Class B Non-Voting Shares Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value (Number of shares in millions) Outstanding at March 31, 2021 5.5 $24.23 21.2 $15.85 — (1) $11.10 9.1 $8.71 Granted — — 1.0 $12.36 — (1) $13.16 4.7 $14.19 Options exercised or restricted stock or RSUs vested — (1) $11.05 (0.2) $11.82 — (1) $12.05 (5.3) $8.83 Forfeited or expired — (1) $23.07 (0.2) $24.64 — — (0.4) $8.65 Outstanding at September 30, 2021 5.5 $24.32 21.8 $15.62 — (1) $11.51 8.1 $11.88 __________________ (1) Represents less than 0.1 million shares. (c) Share Repurchases

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax benefit (provision) for the three months ended September 30, 2021 and 2020 is calculated by estimating the Company's annual effective tax rate (estimated annual tax provision divided by estimated annual income before income taxes), and then applying the effective tax rate to income (loss) before income taxes for the period, plus or minus the tax effects of items that relate discretely to the period, if any. The Company's income tax benefit (provision) differs from the federal statutory rate multiplied by pre-tax income (loss) due to the mix of the Company's pre-tax income (loss) generated across the various jurisdictions in which the Company operates, changes in the valuation allowance against the Company's deferred tax assets, and certain minimum taxes and foreign withholding taxes. The Company's income tax provision for the quarter ended September 30, 2021 and 2020 was also impacted by interest accrual on uncertain tax benefits, and release of uncertain tax benefits due to the close of audits or expiration of statutory limitations.The Company's income tax benefit (provision) can be affected by many factors, including the overall level of pre-tax income, the mix of pre-tax income generated across the various jurisdictions in which the Company operates, changes in tax laws and regulations in those jurisdictions, changes in uncertain tax positions, changes in valuation allowances on its deferred tax assets, tax planning strategies available to the Company, and other discrete items.

Restructuring and Other

Restructuring and Other	6 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Other	Restructuring and OtherRestructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable. During the three and six months ended September 30, 2021 and 2020, the Company also incurred certain other unusual charges related to the COVID-19 global pandemic. The following table sets forth restructuring and other and COVID-19 related charges and the statement of operations line items they are included in for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Restructuring and other: Severance (1) Cash $ 1.3 $ 8.5 $ 3.8 $ 10.6 Accelerated vesting on equity awards (see Note 11) — 2.8 — 2.8 Total severance costs 1.3 11.3 $ 3.8 $ 13.4 COVID-19 related charges included in restructuring and other (2) 0.5 0.3 0.8 0.8 Transaction and related costs (3) 1.7 1.8 2.1 2.2 Total Restructuring and Other 3.5 13.4 6.7 16.4 COVID-19 related charges (benefit) not included in restructuring and other, included in: Direct operating expense (4) (1.0) 22.3 0.5 28.1 Distribution and marketing expense (4) 0.2 6.1 0.3 10.7 Total restructuring and other and COVID-19 related charges $ 2.7 $ 41.8 $ 7.5 $ 55.2 _______________________ (1) Severance costs in the three and six months ended September 30, 2021 and 2020 were primarily related to restructuring activities in connection with cost-saving initiatives and recent acquisitions. (2) During the three and six months ended September 30, 2021, the Company has incurred certain costs primarily related to incremental costs required to adhere to health and safety protocols and other incremental costs associated with the COVID-19 global pandemic. In the three and six months ended September 30, 2020, these costs were primarily related to transitioning the Company to a remote-work environment and other incremental costs associated with the COVID-19 global pandemic. (3) Transaction and related costs in the three and six months ended September 30, 2021 and 2020 reflect transaction, integration and legal costs associated with certain strategic transactions, restructuring activities and legal matters. (4) In connection with the disruptions associated with the COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, and the related economic disruption, including the worldwide closure of theaters, international travel restrictions and the pausing of motion picture and television productions, during the three and six months ended September 30, 2021 and 2020 the Company incurred certain incremental costs which were expensed in the period. The charges (benefit) included in direct operating expense includes incremental costs associated with the pausing and restarting of productions including certain cast and crew, idle facilities and equipment costs resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries, and in the three and six months ended September 30, 2020, these charges also included film impairment due to changes in performance expectations resulting from circumstances associated with the COVID-19 global pandemic. In the three months ended September 30, 2021, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. In addition, the costs included in distribution and marketing expense primarily consist of contractual marketing spends for film releases and events that have been canceled or delayed and will provide no economic benefit. The Company is in the process of seeking additional insurance recovery for some of these costs. The ultimate amount of insurance recovery cannot be estimated at this time. Changes in the restructuring and other severance liability were as follows for the six months ended September 30, 2021 and 2020: Six Months Ended September 30, 2021 2020 (Amounts in millions) Severance liability Beginning balance $ 5.7 $ 11.1 Accruals 3.8 10.6 Severance payments (6.5) (10.8) Ending balance (1) $ 3.0 $ 10.9 _______________________

Segment Information

Segment Information	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s reportable segments have been determined based on the distinct nature of their operations, the Company's internal management structure, and the financial information that is evaluated regularly by the Company's chief operating decision maker. The Company has three reportable business segments: (1) Motion Picture, (2) Television Production and (3) Media Networks. Motion Picture. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. Television Production. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the licensing of Starz original series productions to Starz Networks and STARZPLAY International, and the ancillary market distribution of Starz original productions and licensed product. Additionally, the Television Production segment includes the results of operations of 3 Arts Entertainment. Media Networks. Media Networks consists of the following product lines (i) Starz Networks, which includes the domestic distribution of STARZ branded premium subscription video services through OTT platforms and Distributors and on a direct-to-consumer basis through the Starz App and (ii) STARZPLAY International, which represents revenues primarily from the OTT distribution of the Company's STARZ branded premium subscription video services outside of the U.S. Through March 31, 2021, Media Networks also included Other Streaming Services, which represented primarily our formerly majority owned premium Spanish language streaming services business, Pantaya. The Company sold its interest in Pantaya on March 31, 2021 (see Note 2). In the ordinary course of business, the Company's reportable segments enter into transactions with one another. The most common types of intersegment transactions include licensing motion pictures or television programming (including Starz original productions) from the Motion Picture and Television Production segments to the Media Networks segment. While intersegment transactions are treated like third-party transactions to determine segment performance, the revenues (and corresponding expenses, assets, or liabilities recognized by the segment that is the counterparty to the transaction) are eliminated in consolidation and, therefore, do not affect consolidated results. Segment information is presented in the table below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Segment revenues Motion Picture $ 330.9 $ 257.6 $ 622.1 $ 538.3 Television Production 336.0 197.2 722.1 392.9 Media Networks 384.7 388.3 767.0 755.5 Intersegment eliminations (163.8) (98.1) (322.2) (128.0) $ 887.8 $ 745.0 $ 1,789.0 $ 1,558.7 Intersegment revenues Motion Picture $ 2.8 $ 7.1 $ 7.2 $ 10.2 Television Production 161.0 91.0 315.0 117.8 Media Networks — — — — $ 163.8 $ 98.1 $ 322.2 $ 128.0 Gross contribution Motion Picture $ 124.5 $ 107.8 $ 193.2 $ 237.6 Television Production 38.0 21.2 51.0 66.9 Media Networks 28.3 114.9 137.6 207.2 Intersegment eliminations (3.1) (2.7) 5.5 (10.4) $ 187.7 $ 241.2 $ 387.3 $ 501.3 Segment general and administration Motion Picture $ 22.7 $ 24.8 $ 47.1 $ 53.6 Television Production 9.5 11.3 19.5 22.0 Media Networks 22.8 22.0 43.9 42.5 $ 55.0 $ 58.1 $ 110.5 $ 118.1 Segment profit Motion Picture $ 101.8 $ 83.0 $ 146.1 $ 184.0 Television Production 28.5 9.9 31.5 44.9 Media Networks 5.5 92.9 93.7 164.7 Intersegment eliminations (3.1) (2.7) 5.5 (10.4) $ 132.7 $ 183.1 $ 276.8 $ 383.2 The Company's primary measure of segment performance is segment profit. Segment profit is defined as gross contribution (revenues, less direct operating and distribution and marketing expense) less segment general and administration expenses. Segment profit excludes, when applicable, corporate general and administrative expense, restructuring and other costs, share-based compensation, certain programming and content charges as a result of changes in management and associated programming and content strategy, certain charges related to the COVID-19 global pandemic and purchase accounting and related adjustments. The Company believes the presentation of segment profit is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company's management and enables them to understand the fundamental performance of the Company's businesses. The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Company’s total segment profit $ 132.7 $ 183.1 $ 276.8 $ 383.2 Corporate general and administrative expenses (24.5) (27.1) (48.8) (53.5) Adjusted depreciation and amortization (1) (10.8) (12.1) (21.0) (22.1) Restructuring and other (2) (3.5) (13.4) (6.7) (16.4) COVID-19 related (charges) benefit included in direct operating expense and distribution and marketing expense (3) 0.8 (28.4) (0.8) (38.8) Adjusted share-based compensation expense (4) (20.4) (22.8) (54.9) (37.2) Purchase accounting and related adjustments (5) (44.5) (49.6) (94.5) (96.1) Operating income 29.8 29.7 50.1 119.1 Interest expense (44.0) (45.7) (85.7) (90.2) Interest and other income 24.1 0.1 28.0 1.8 Other expense (2.7) (0.7) (4.3) (2.3) Loss on extinguishment of debt (0.4) — (27.1) — Gain (loss) on investments 1.5 (4.7) 1.5 0.4 Equity interests income (loss) 0.4 (1.9) 1.1 (4.5) Income (loss) before income taxes $ 8.7 $ (23.2) $ (36.4) $ 24.3 ___________________ (1) Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Depreciation and amortization $ 44.4 $ 49.6 $ 87.8 $ 97.1 Less: Amount included in purchase accounting and related adjustments (33.6) (37.5) (66.8) (75.0) Adjusted depreciation and amortization $ 10.8 $ 12.1 $ 21.0 $ 22.1 (2) Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable (see Note 13). (3) In connection with the disruptions associated with the COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, during the three and six months ended September 30, 2021 the Company has incurred a benefit of $(0.8) million and charges of $0.8 million, respectively, net of insurance recoveries, in incremental direct operating and distribution and marketing expense (three and six months ended September 30, 2020 - $28.4 million and $38.8 million, respectively) (see Note 13). These charges are excluded from segment operating results. (4) The following table reconciles total share-based compensation expense to adjusted share-based compensation expense: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Total share-based compensation expense $ 20.4 $ 25.6 $ 54.9 $ 40.0 Less: Amount included in restructuring and other (i) — (2.8) — (2.8) Adjusted share-based compensation $ 20.4 $ 22.8 $ 54.9 $ 37.2 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements. (1) Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Purchase accounting and related adjustments: Direct operating $ 0.1 $ 0.6 $ 0.5 $ 0.9 General and administrative expense 10.8 11.5 27.2 20.2 Depreciation and amortization 33.6 37.5 66.8 75.0 $ 44.5 $ 49.6 $ 94.5 $ 96.1 See Note 9 for revenues by media or product line as broken down by segment for the three and six months ended September 30, 2021 and 2020. The following table reconciles segment general and administration expense to the Company's total consolidated general and administration expense: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) General and administration Segment general and administrative expenses $ 55.0 $ 58.1 $ 110.5 $ 118.1 Corporate general and administrative expenses 24.5 27.1 48.8 53.5 Share-based compensation expense included in general and administrative expense 19.7 22.1 54.1 36.0 Purchase accounting and related adjustments 10.8 11.5 27.2 20.2 $ 110.0 $ 118.8 $ 240.6 $ 227.8 The reconciliation of total segment assets to the Company’s total consolidated assets is as follows: September 30, March 31, (Amounts in millions) Assets Motion Picture $ 1,761.7 $ 1,212.4 Television Production 1,792.5 1,757.9 Media Networks 4,451.1 4,399.3 Other unallocated assets (1) 742.1 936.6 $ 8,747.4 $ 8,306.2 _____________________ (1) Other unallocated assets primarily consist of cash, other assets and investments.

Contingencies

Contingencies	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies From time to time, the Company is involved in certain claims and legal proceedings arising in the normal course of business. The Company establishes an accrued liability for claims and legal proceedings when the Company determines that a loss is both probable and the amount of the loss can be reasonably estimated. Once established, accruals are adjusted from time to time, as appropriate, in light of additional information. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters. Due to the inherent difficulty of predicting the outcome of claims and legal proceedings, the Company often cannot predict what the eventual outcome of the pending matters will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, if any, related to each pending matter may be. Accordingly, at this time, the Company has determined a loss related to these matters in excess of accrued liabilities is reasonably possible, however a reasonable estimate of the possible loss or range of loss cannot be made at this time. Insurance Litigation Between July 19, 2016 and August 30, 2016, seven putative class action complaints were filed by purported Starz stockholders in the Court of Chancery of the State of Delaware (the "Fiduciary Litigation"). On August 22, 2018, the parties to the Fiduciary Litigation reached an agreement in principle providing for the settlement of the Fiduciary Litigation on the terms and conditions set forth in an executed term sheet. On October 9, 2018, the parties to the Litigation executed a stipulation of settlement, which was filed with the court (the "Stipulation"). The Stipulation provided for, among other things, the final dismissal of the Fiduciary Litigation in exchange for a settlement payment made in the amount of $92.5 million, of which $37.8 million was reimbursed by insurance. The Fiduciary Litigation settlement was approved by the Court of Chancery of the State of Delaware and the settlement amount and insurance reimbursement discussed above were paid during the quarter ended December 31, 2018. On November 7, 2018, in support of its effort to obtain additional insurance reimbursements, the Company filed a lawsuit against certain insurers. Additionally, on November 5, 2018, an insurer that entered into an agreement and contributed $10.0 million to the Company's aggregate insurance reimbursement filed a lawsuit seeking declaratory judgment for reimbursement of its agreed upon payment. During the quarter ended September 30, 2021, the Company settled with all of the insurers in both lawsuits except one (with whom the Company had settled in the prior quarter). The net settlement amount derived by the Company during the three months ended September 30, 2021 is $20.2 million, which is included in the “interest and other income” line item on the unaudited condensed consolidated statement of operations (six months ended September 30, 2021 - $22.7 million).

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Forward Foreign Exchange Contracts The Company enters into forward foreign exchange contracts to hedge its foreign currency exposures on future production expenses and tax credit receivables denominated in various foreign currencies (i.e., cash flow hedges). The Company also enters into forward foreign exchange contracts that economically hedge certain of its foreign currency risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company monitors its positions with, and the credit quality of, the financial institutions that are party to its financial transactions. Changes in the fair value of the foreign exchange contracts that are designated as hedges are reflected in accumulated other comprehensive income (loss), and changes in the fair value of foreign exchange contracts that are not designated as hedges and do not qualify for hedge accounting are recorded in direct operating expense. Gains and losses realized upon settlement of the foreign exchange contracts that are designated as hedges are amortized to direct operating expense on the same basis as the production expenses being hedged. As of September 30, 2021, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 16 months from September 30, 2021): September 30, 2021 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling £4.7 in exchange for $6.5 £0.72 Hungarian Forint HUF 10,669.0 in exchange for $35.6 HUF 299.86 Euro €10.9 in exchange for $13.9 €0.79 Canadian Dollar C$2.5 in exchange for $2.3 C$1.13 Czech Koruna CZK99.9 in exchange for $4.4 CZK22.57 Interest Rate Swaps The Company is exposed to the impact of interest rate changes primarily through its borrowing activities. The Company’s objective is to mitigate the impact of interest rate changes on earnings and cash flows. The Company primarily uses pay-fixed interest rate swaps to facilitate its interest rate risk management activities, which the Company generally designates as cash flow hedges of interest payments on floating-rate borrowings. Pay-fixed swaps effectively convert floating-rate borrowings to fixed-rate borrowings. The unrealized gains or losses from these designated cash flow hedges are deferred in accumulated other comprehensive income (loss) and recognized in interest expense as the interest payments occur. Changes in the fair value of interest rate swaps that are not designated as hedges are recorded in interest expense (see further explanation below). Cash settlements related to interest rate contracts are generally classified as operating activities on the consolidated statements of cash flows. However, due to an other-than-insignificant financing element on a portion of our interest rate swaps (see designated cash flow hedges table below), the cash flows related to these contracts are classified as financing activities. Designated Cash Flow Hedges. As of September 30, 2021, the Company had the following designated cash flow hedge pay-fixed interest rate swaps outstanding (all related to the Company's LIBOR-based debt, see Note 5 and Note 6): Effective Date Notional Amount Fixed Rate Paid Maturity Date (1) (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 19, 2020 $700.0 1.923% March 23, 2030 (2) May 19, 2020 $350.0 2.531% March 23, 2027 (2) June 15, 2020 $150.0 2.343% March 23, 2027 (2) August 14, 2020 $200.0 1.840% March 23, 2030 (2) Total $1,700.0 __________________ (1) Subject to a mandatory early termination date of March 23, 2025. (2) These pay-fixed interest rate swaps are considered hybrid instruments with a financing component and an embedded at-market derivative that was designated as a cash flow hedge (see discussion of cash flow presentation above). Not Designated. As of September 30, 2021, the Company had the following pay-fixed receive-variable and offsetting pay-variable receive-fixed interest rate swaps outstanding, which are not designated as cash flow hedges: Pay-Fixed Receive-Variable (1) Offsetting Pay-Variable Receive-Fixed (1) Effective Date Notional Amount Fixed Rate Paid Effective Date Notional Amount Fixed Rate Received Maturity Date (in millions) (in millions) May 23, 2018 $700.0 2.915% May 19, 2020 $700.0 2.915% March 24, 2025 June 25, 2018 $200.0 2.723% August 14, 2020 $200.0 2.723% March 23, 2025 July 31, 2018 $300.0 2.885% May 19, 2020 $300.0 2.885% March 23, 2025 December 24, 2018 $50.0 2.744% May 19, 2020 $50.0 2.744% March 23, 2025 December 24, 2018 $100.0 2.808% June 15, 2020 $100.0 2.808% March 23, 2025 December 24, 2018 $50.0 2.728% June 15, 2020 $50.0 2.728% March 23, 2025 Total $1,400.0 Total $1,400.0 __________________ (1) During the fiscal year ended March 31, 2021, the Company completed a series of transactions to amend and extend certain interest rate swap agreements, and as part of these transactions, the $1.4 billion pay-fixed receive-variable interest rate swaps presented in the table above were de-designated, and the Company entered into $1.4 billion of pay-variable receive-fixed interest rate swaps, as presented in the table above, which are designed to offset the terms of the $1.4 billion of pay-fixed receive-variable swaps in the table above. At the time of the de-designation of the above $1.4 billion in pay-fixed receive-variable interest rate swaps, there was approximately $163.0 million of unrealized losses recorded in accumulated other comprehensive income (loss). This amount is being amortized to interest expense through the remaining term of the de-designated swaps unless it becomes probable that the cash flows originally hedged will not occur, in which case the proportionate amount of the loss will be recorded to interest expense at that time. The $1.4 billion of pay-fixed receive-variable interest rate swaps de-designated as cash flow hedges and the $1.4 billion of offsetting pay-variable receive-fixed swaps are marked to market with changes in fair value recognized, along with the fixed and variable payments on these swaps, in interest expense, which are expected to nearly offset each other. Financial Statement Effect of Derivatives Unaudited condensed consolidated statements of operations and comprehensive income (loss): The following table presents the pre-tax effect of the Company's derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive loss $ 0.3 $ (0.4) $ 0.2 $ (0.6) Loss reclassified from accumulated other comprehensive loss into direct operating expense $ (0.2) $ — $ (0.4) $ (0.1) Interest rate swaps Gain (loss) recognized in accumulated other comprehensive loss $ 1.9 $ (10.5) $ (38.9) $ (28.2) Loss reclassified from accumulated other comprehensive loss into interest expense $ (8.1) $ (9.6) $ (16.4) $ (17.0) Derivatives not designated as cash flow hedges: Forward exchange contracts Gain recognized in direct operating expense $ — $ — $ — $ 0.3 Interest rate swaps Loss reclassified from accumulated other comprehensive loss into interest expense $ (8.5) $ (8.0) $ (17.0) $ (11.4) Total direct operating expense on consolidated statements of operations $ 483.2 $ 366.8 $ 969.3 $ 789.8 Total interest expense on consolidated statements of operations $ 44.0 $ 45.7 $ 85.7 $ 90.2 Unaudited condensed consolidated balance sheets: The Company classifies its forward foreign exchange contracts and interest rate swap agreements within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments (see Note 7). The portion of the swaps reflecting the financing component of the hybrid instrument discussed above is recorded at amortized cost and reduced over time based on payments. Pursuant to the Company's accounting policy to offset the fair value amounts recognized for derivative instruments, the Company presents the asset or liability position of the swaps that are with the same counterparty under a master netting arrangement net as either an asset or liability in its unaudited condensed consolidated balance sheets. As of September 30, 2021, the gross amount of swaps in an asset and liability position that were subject to a master netting arrangement was $173.0 million and $218.3 million, respectively, resulting in an asset recorded in other assets - non current of $27.2 million and a liability recorded in other liabilities - non-current of $72.5 million. As of March 31, 2021, the gross amount of swaps in an asset and liability position that were subject to a master netting arrangement was $211.2 million and $236.3 million, respectively, resulting in an asset recorded in other assets - non-current of $50.8 million and a liability recorded in other liabilities - non-current of $75.9 million. As of September 30, 2021 and March 31, 2021, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company's use of derivatives: September 30, 2021 Other Current Assets Other Non-Current Assets Accounts Payable and Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 2.1 $ — $ 2.6 $ — Interest rate swaps — 52.3 — 7.7 Derivatives not designated as cash flow hedges: Interest rate swaps (1) — (25.0) — 115.4 Fair value of derivatives $ 2.1 $ 27.3 $ 2.6 $ 123.1 ________________ (1) Includes $93.1 million and $50.2 million included in other non-current assets and other non-current liabilities, respectively, representing the financing element of certain hybrid instruments, which is offset by the pay-variable receive-fixed interest rate swaps outstanding at September 30, 2021. March 31, 2021 Other Current Assets Other Non-Current Assets Accounts Payable and Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 1.5 $ — $ 2.6 $ — Interest rate swaps — 72.7 — 5.6 Derivatives not designated as cash flow hedges: Interest rate swaps (1) — (21.9) — 127.1 Fair value of derivatives $ 1.5 50.8 $ 2.6 132.7 ________________ (1) Includes $98.2 million and $54.3 million included in other non-current assets and other non-current liabilities, respectively, representing the financing element of certain hybrid instruments, which is offset by the pay-variable receive-fixed interest rate swaps outstanding at March 31, 2021. As of September 30, 2021, based on the current release schedule, the Company estimates less than $0.1 million of gains associated with forward foreign exchange contract cash flow hedges in accumulated other comprehensive loss will be reclassified into earnings during the one-year period ending September 30, 2022.

Additional Financial Informatio

Additional Financial Information	6 Months Ended
	Sep. 30, 2021
Additional Financial Information [Abstract]
Additional Financial Information	Additional Financial Information The following tables present supplemental information related to the unaudited condensed consolidated financial statements. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheet to the total amounts reported in the unaudited condensed consolidated statement of cash flows at September 30, 2021. At September 30, 2021, restricted cash included in other current assets represents amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility and IP Credit Facility. There were no material amounts of restricted cash in the unaudited condensed consolidated balance sheet as of March 31, 2021. September 30, (Amounts in millions) Cash and cash equivalents $ 442.6 Restricted cash included in other current assets 5.2 Total cash, cash equivalents and restricted cash $ 447.8 Other Assets The composition of the Company’s other assets is as follows as of September 30, 2021 and March 31, 2021: September 30, March 31, (Amounts in millions) Other current assets Prepaid expenses and other $ 73.7 $ 68.0 Cash consideration receivable for sale of Pantaya (see Note 2) — 123.6 Product inventory 16.3 14.3 Tax credits receivable 96.3 68.4 $ 186.3 $ 274.3 Other non-current assets Prepaid expenses and other $ 23.1 $ 25.8 Accounts receivable 42.7 49.4 Tax credits receivable 259.7 181.2 Operating lease right-of-use assets 139.8 127.0 Interest rate swap assets 27.2 50.8 $ 492.5 $ 434.2 Accounts Receivable Monetization Under the Company's accounts receivable monetization programs, the Company has entered into (1) individual agreements to monetize certain of its trade accounts receivable directly with third-party purchasers and (2) a revolving agreement to monetize designated pools of trade accounts receivable with various financial institutions, as further described below. Under these programs, the Company transfers receivables to purchasers in exchange for cash proceeds, and the Company continues to service the receivables for the purchasers. The Company accounts for the transfers of these receivables as a sale, removes (derecognizes) the carrying amount of the receivables from its balance sheets and classifies the proceeds received as cash flows from operating activities in the statements of cash flows. The Company records a loss on the sale of these receivables reflecting the net proceeds received (net of any obligations incurred), less the carrying amount of the receivables transferred. The loss is reflected in the "other expense" line item on the unaudited condensed consolidated statements of operations. The Company receives fees for servicing the accounts receivable for the purchasers, which represent the fair value of the services and were immaterial for the three and six months ended September 30, 2021 and 2020. Individual Monetization Agreements. The Company enters into individual agreements to monetize trade accounts receivable. The third-party purchasers have no recourse to other assets of the Company in the event of non-payment by the customers. The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 407.2 $ 341.8 $ 747.6 $ 655.0 Net cash proceeds received 404.9 341.2 743.4 652.9 Loss recorded related to transfers of receivables 2.3 0.6 4.2 2.1 At September 30, 2021, the outstanding amount of receivables derecognized from the Company's unaudited condensed consolidated balance sheets, but which the Company continues to service, related to the Company's individual agreements to monetize trade accounts receivable was $532.4 million (March 31, 2021 - $562.8 million). Pooled Monetization Agreement. In December 2019, the Company entered into a revolving agreement, as amended in July 2021, to transfer up to $150.0 million of certain receivables to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred, which expires July 27, 2022. As customers pay their balances, the Company transfers additional receivables into the program. The transferred receivables are fully guaranteed by a bankruptcy-remote wholly-owned subsidiary of the Company, which holds additional receivables in the amount of $60.8 million as of September 30, 2021 that are pledged as collateral under this agreement. The third-party purchasers have no recourse to other assets of the Company in the event of non-payment by the customers. The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 52.3 $ 33.7 $ 91.4 $ 86.0 Less amounts from collections reinvested under revolving agreement (34.6) (33.7) (63.9) (75.0) Proceeds from new transfers 17.7 — 27.5 11.0 Collections not reinvested and remitted or to be remitted (21.2) (3.9) (33.5) (14.3) Net cash proceeds paid or to be paid $ (3.5) $ (3.9) $ (6.0) $ (3.3) Carrying value of receivables transferred and derecognized (1) $ 51.7 $ 33.5 $ 90.7 $ 85.5 Obligations recorded $ 1.0 $ 0.2 $ 0.9 $ 0.6 Loss recorded related to transfers of receivables $ 0.4 $ — $ 0.2 $ 0.2 ___________________ (1) Receivables net of unamortized discounts on long-term, non-interest bearing receivables. At September 30, 2021, the outstanding amount of receivables derecognized from the Company's unaudited condensed consolidated balance sheet, but which the Company continues to service, related to the pooled monetization agreement was approximately $92.9 million (March 31, 2021 - $99.0 million). Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss, net of tax: Foreign currency translation adjustments Net unrealized loss on cash flow hedges Total (Amounts in millions) March 31, 2021 $ (15.1) $ (68.2) $ (83.3) Other comprehensive loss (1.0) (38.7) (39.7) Reclassifications to net loss (1) — 33.8 33.8 September 30, 2021 $ (16.1) $ (73.1) $ (89.2) March 31, 2020 $ (18.8) $ (187.2) $ (206.0) Other comprehensive income (loss) 0.8 (28.8) (28.0) Reclassifications to net loss (1) — 28.5 28.5 September 30, 2020 $ (18.0) $ (187.5) $ (205.5) ___________________ (1) Represents $0.4 million included in direct operating expense and $33.4 million included in interest expense on the unaudited condensed consolidated statement of operations in the six months ended September 30, 2021 (six months ended September 30, 2020 - $0.1 million included in direct operating expense and $28.4 million included in interest expense) (see Note 16). Supplemental Cash Flow Information Significant non-cash transactions during the six months ended September 30, 2021 and 2020 include certain interest rate swap agreements, which are discussed in Note 16, "Derivative Instruments and Hedging Activities". The supplemental schedule of non-cash investing and financing activities is presented below: Six Months Ended September 30, 2021 2020 (Amounts in millions) Non-cash investing activities: Accrued equity-method investment $ 19.0 $ — Decrease in finance lease right-of-use asset due to a reassessment event (1) $ — $ (42.0) Non-cash financing activities: Decrease in finance lease liability due to a reassessment event (1) $ — $ (48.6) ______________ (1) During the three months ended September 30, 2020, the Company reassessed the lease term of the Starz commercial building, which resulted in a change in classification of this lease from a finance lease to an operating lease. Supplemental cash flow information related to leases was as follows: Six Months Ended September 30, 2021 2020 (Amounts in millions) Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 38.8 $ 10.4 Increase in right-of-use assets and lease liability due to a reassessment event (1) : Operating leases - increase in right-of-use assets $ — $ 6.0 Operating leases - increase in lease liability $ — $ 12.6 ______________

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Termination of a Portion of Revolving Credit Facility Commitments. In November 2021, the Company terminated its revolving credit commitments under its 2023 Revolving Credit Facility, amounting to $250.0 million (the "Termination"). After giving effect to the Termination, the Company's remaining revolving credit commitments under its Credit Agreement amounted to $1.25 billion under the 2026 Revolving Credit Facility (see Note 5).

General (Policies)

General (Policies)	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and six months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2022. The balance sheet at March 31, 2021 has been derived from the audited financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, including the potential impacts arising from the COVID-19 global pandemic, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs and licensed program rights; estimates of sales returns; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; fair value of assets and liabilities for allocation of the purchase price of companies acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; and impairment assessments for investment in films and television programs and licensed program rights, property and equipment, equity investments, goodwill and intangible assets. Actual results could differ from such estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Guidance Adopted in Fiscal 2022 Reference Rate Reform: In March 2020, the Financial Accounting Standards Board ("FASB") issued guidance which provides optional expedients and exceptions for applying U.S. GAAP to contract modifications, hedging relationships, and other transactions affected by the market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, if certain criteria are met. Additionally, in January 2021, the FASB issued additional guidance, which allows entities to elect certain optional expedients and exceptions when accounting for derivative contracts and certain hedging relationships affected by changes in the interest rates. The guidance is applicable to contract modifications made and hedging relationships entered into between March 12, 2020 and December 31, 2022. The Company adopted this guidance on July 1, 2021 and is applying its provisions prospectively through December 31, 2022, with no material impact to the Company’s consolidated financial statements. See Note 16 for further information.
Net Income (Loss) Per Share	Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period.Diluted net income (loss) per common share reflects share purchase options, including share appreciation rights ("SARs"), restricted share units ("RSUs") and restricted stock using the treasury stock method when dilutive, and any contingently issuable shares when dilutive.

Investment In Films and Telev_2

Investment In Films and Television Programs and Licensed Program Rights (Tables)	6 Months Ended
	Sep. 30, 2021
Investment In Films And Television Programs and Program Rights [Abstract]
Impairments By Segment	Investment in films and television programs and licensed program rights includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Impairments by segment: Motion Picture $ 0.1 $ 0.3 $ 0.1 $ 0.9 Television Production 1.6 2.8 26.6 2.8 Impairments not included in segment operating results (1) — 15.4 — 15.4 $ 1.7 $ 18.5 $ 26.7 $ 19.1 ________________________
Investment in Films and Television Programs and Licensed Program Rights	Total investment in films and television programs and licensed program rights by predominant monetization strategy is as follows: September 30, March 31, (Amounts in millions) Investment in Films and Television Programs: Individual Monetization Released, net of accumulated amortization $ 516.5 $ 414.7 Completed and not released 24.0 60.3 In progress 743.1 418.7 In development 97.8 92.9 1,381.4 986.6 Film Group Monetization Released, net of accumulated amortization 403.5 200.4 Completed and not released — — In progress 581.1 497.1 In development 22.9 28.2 1,007.5 725.7 Licensed program rights, net of accumulated amortization 399.2 510.4 Investment in films and television programs and licensed program rights, net $ 2,788.1 $ 2,222.7
Amortization of Investment in Films and Television Programs and Licensed Program Rights	Amortization of investment in film and television programs and licensed program rights by predominant monetization strategy is as follows for the three and six months ended September 30, 2021 and 2020, and was included in direct operating expense in the unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Amortization expense: Individual monetization $ 183.7 $ 106.3 $ 419.5 $ 228.8 Film group monetization 88.6 66.4 120.7 114.6 Licensed program rights 86.7 77.5 189.9 188.0 $ 359.0 $ 250.2 $ 730.1 $ 531.4

Investments (Tables)

Investments (Tables)	6 Months Ended
	Sep. 30, 2021
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Carrying Amount of Investments, By Category	The Company's investments consisted of the following: September 30, March 31, (Amounts in millions) Investments in equity method investees $ 58.8 $ 30.1 Other investments 2.3 1.8 $ 61.1 $ 31.9
Summarized Balance Sheet	Summarized financial information for the Company's equity method investees on an aggregate basis is set forth below: September 30, March 31, (Amounts in millions) Current assets $ 110.1 $ 135.2 Non-current assets $ 91.1 $ 177.7 Current liabilities $ 208.6 $ 201.1 Non-current liabilities $ 59.8 $ 91.7
Summarized Statement of Income	Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Revenues $ 22.8 $ 22.3 $ 37.1 $ 46.8 Gross profit $ 4.8 $ 7.1 $ 8.7 $ 13.8 Net loss $ (8.7) $ (16.1) $ (19.9) $ (33.8)
Gain (Loss) on Investments	The following table summarizes the components of the gain (loss) on investments: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Unrealized gains (losses) on equity securities $ (0.2) $ 0.3 $ (0.7) $ 0.8 Impairments of other investments (1) — (5.0) — (5.0) Gain on sale of other investments and other investment gains 1.7 — 2.2 4.6 $ 1.5 $ (4.7) $ 1.5 $ 0.4 ________________________

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt, Excluding Film Related and Other Obligations	Total debt of the Company, excluding film related and other obligations, was as follows as of September 30, 2021 and March 31, 2021: September 30, March 31, (Amounts in millions) Corporate debt: Revolving Credit Facility $ — $ — Term Loan A: 2023 Term Loan A 204.3 660.0 2026 Term Loan A 444.9 — Term Loan B 850.4 952.6 5.500% Senior Notes 1,000.0 — 5.875% Senior Notes — 518.7 6.375% Senior Notes — 545.6 Total corporate debt 2,499.6 2,676.9 Unamortized debt issuance costs (64.6) (46.0) Total debt, net 2,435.0 2,630.9 Less current portion (40.0) (88.0) Non-current portion of debt $ 2,395.0 $ 2,542.9
Loss on Extinguishment of Debt	Six Months Ended Loss on Extinguishment of Debt Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances Total (Amounts in millions) Revolving Credit Facility, Term Loan A and Senior Notes: New debt issuance costs and call premiums $ 21.2 $ 31.0 $ 52.2 Previously incurred debt issuance costs 5.2 31.1 36.3 $ 26.4 $ 62.1 $ 88.5 Loss on Term Loan B repurchases and other 0.7 Total loss on extinguishment of debt $ 27.1

Film Related and Other Obliga_2

Film Related and Other Obligations (Tables)	6 Months Ended
	Sep. 30, 2021
Film Related And Other Obligations [Abstract]
Components	September 30, March 31, (Amounts in millions) Program rights and film obligations $ 178.8 $ 214.6 Production and related loans 871.9 493.5 IP Credit Facility and other financing obligations 215.0 — Total film related and other obligations 1,265.7 708.1 Unamortized debt issuance costs (7.1) (4.6) Total film related and other obligations, net 1,258.6 703.5 Less current portion (546.4) (385.0) Total non-current film related and other obligations $ 712.2 $ 318.5
Schedule of Cumulative Minimum Guaranteed Payments of IP Credit Facility	The cash flows generated from the exploitation of the rights will be applied to repay the IP Credit Facility subject to cumulative minimum guaranteed payment amounts as set forth below: Cumulative Period Through: Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2022 $26.3 November 14, 2022 September 30, 2023 $52.5 November 14, 2023 September 30, 2024 $78.8 November 14, 2024 September 30, 2025 $105.0 November 14, 2025 July 30, 2026 $140.0 July 30, 2026

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis	The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of September 30, 2021 and March 31, 2021: September 30, 2021 March 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Available-for-sale equity securities $ 0.7 $ — $ 0.7 $ 1.8 $ — $ 1.8 Forward exchange contracts (see Note 16) — 2.1 2.1 — 1.5 1.5 Interest rate swaps (see Note 16) (1) — 120.4 120.4 — 149.0 149.0 Liabilities: Forward exchange contracts (see Note 16) — (2.6) (2.6) — (2.6) (2.6) Interest rate swaps (see Note 16) — (72.9) (72.9) — (78.4) (78.4) ________________ (1) Amounts at September 30, 2021 and March 31, 2021 exclude $93.1 million and $98.2 million, respectively, of financing component of interest rate swaps presented in the table below.
Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis	The following table sets forth the carrying values and fair values of the Company’s outstanding debt, production and related loans, IP Credit Facility and other financing obligations, and interest rate swaps at September 30, 2021 and March 31, 2021: September 30, 2021 March 31, 2021 (Amounts in millions) Carrying Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Term Loan A $ 641.3 $ 620.8 $ 651.4 $ 647.6 Term Loan B 842.7 844.0 942.8 936.0 5.500% Senior Notes 963.8 1,027.5 — — 5.875% Senior Notes — — 506.7 533.9 6.375% Senior Notes — — 540.8 563.0 Production and related loans 867.5 871.9 489.0 493.5 IP Credit Facility and other financing obligations 212.3 215.0 — — Financing component of interest rate swaps (2) 143.3 136.6 152.5 144.7 ________________ (1) The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, swap rates, and credit ratings (Level 2 measurements). (2) Amounts at September 30, 2021 and March 31, 2021 include $93.1 million and $98.2 million, respectively, recorded as a reduction of assets under master netting arrangements.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The table below presents the reconciliation of changes in redeemable noncontrolling interests: Six Months Ended September 30, 2021 2020 (Amounts in millions) Beginning balance $ 219.1 $ 167.8 Net loss attributable to redeemable noncontrolling interests (10.6) (8.4) Noncontrolling interests discount accretion 12.6 11.5 Adjustments to redemption value 22.2 13.4 Cash distributions (0.1) (2.0) Ending balance $ 243.2 $ 182.3

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The table below presents revenues by segment, market or product line for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 16.0 $ — $ 44.4 $ 0.3 Home Entertainment Digital Media 129.8 116.1 242.0 243.9 Packaged Media 31.2 33.9 65.2 73.5 Total Home Entertainment 161.0 150.0 307.2 317.4 Television 90.9 59.1 141.6 117.6 International 59.3 45.5 122.1 97.9 Other 3.7 3.0 6.8 5.1 Total Motion Picture revenues 330.9 257.6 622.1 538.3 Television Production Television 228.2 116.7 500.4 212.6 International 57.0 47.9 124.4 94.3 Home Entertainment Digital Media 33.2 15.9 57.8 61.8 Packaged Media 1.0 1.1 3.2 1.8 Total Home Entertainment 34.2 17.0 61.0 63.6 Other 16.6 15.6 36.3 22.4 Total Television Production revenues 336.0 197.2 722.1 392.9 Media Networks - Programming Revenues Domestic (1) 358.6 374.1 716.7 731.3 International 26.1 14.2 50.3 24.2 384.7 388.3 767.0 755.5 Intersegment eliminations (163.8) (98.1) (322.2) (128.0) Total revenues $ 887.8 $ 745.0 $ 1,789.0 $ 1,558.7 ___________________
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2021 are as follows: Rest of Year Ending March 31, 2022 Year Ending March 31, 2023 2024 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 711.7 $ 470.5 $ 152.1 $ 305.7 $ 1,640.0 The above table does not include estimates of variable consideration for transactions involving sales or usage-based royalties in exchange for licenses of intellectual property. The revenues included in the above table include all fixed fee contracts regardless of duration.
Contract with Customer, Asset and Liability	At September 30, 2021 and March 31, 2021, accounts receivable, contract assets and deferred revenue are as follows. Item Balance Sheet Location September 30, March 31, Addition (Reduction) (Amounts in millions) Accounts receivable, net - current Accounts receivable, net $ 419.3 $ 383.7 $ 35.6 Accounts receivable, net - non-current Other assets - non-current 42.7 49.4 (6.7) Contract asset - current Other assets - current (1) 29.6 25.6 4.0 Contract asset - non-current Other assets - non-current (1) 13.7 10.3 3.4 Deferred revenue - current Deferred revenue - current 276.7 165.7 111.0 Deferred revenue - non-current Deferred revenue - non-current 49.0 56.2 (7.2) __________________
Accounts Receivable, Provision for Doubtful Accounts	Changes in the provision for doubtful accounts consisted of the following: March 31, 2021 (Benefit) provision for doubtful accounts (1) Uncollectible accounts written-off September 30, 2021 (Amounts in millions) Trade accounts receivable $ 6.5 $ (0.6) $ (0.1) $ 5.8 _______________________ (1) Represents collections on accounts receivable previously reserved.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Basic Net Income (Loss) Per Common Share	Basic net income (loss) per share for the three and six months ended September 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions, except per share amounts) Basic Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders $ 7.5 $ (18.4) $ (37.9) $ 32.7 Denominator: Weighted average common shares outstanding 224.4 220.4 223.1 220.0 Basic net income (loss) per common share $ 0.03 $ (0.08) $ (0.17) $ 0.15
Diluted Net Income (Loss) Per Common Share	Diluted net income (loss) per common share for the three and six months ended September 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions, except per share amounts) Diluted Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders $ 7.5 $ (18.4) $ (37.9) $ 32.7 Denominator: Weighted average common shares outstanding 224.4 220.4 223.1 220.0 Effect of dilutive securities: Share purchase options 1.8 — — — Restricted share units and restricted stock 2.3 — — 0.6 Adjusted weighted average common shares outstanding 228.5 220.4 223.1 220.6 Diluted net income (loss) per common share $ 0.03 $ (0.08) $ (0.17) $ 0.15
Anti-dilutive Shares Issuable	Additionally, for the three and six months ended September 30, 2021 and 2020, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect regardless of net income or loss in the period. Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Anti-dilutive shares issuable Share purchase options 18.6 28.2 16.0 28.0 Restricted share units 1.7 1.4 0.9 2.0 Other issuable shares 2.1 2.6 2.0 3.8 Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share 22.4 32.2 18.9 33.8

Capital Stock (Tables)

Capital Stock (Tables)	6 Months Ended
	Sep. 30, 2021
Equity and Share-based Compensation [Abstract]
Common Shares Reserved For Future Issuance	The table below outlines common shares reserved for future issuance: September 30, March 31, (Amounts in millions) Stock options and SARs outstanding 27.3 26.7 Restricted stock and restricted share units — unvested 8.1 9.1 Common shares available for future issuance 18.9 15.6 Shares reserved for future issuance 54.3 51.4
Share-based Payment Arrangement [Abstract]
Share-Based Compensation Expense	The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Compensation Expense: Stock options $ 2.2 $ 5.0 $ 11.5 $ 9.3 Restricted share units and other share-based compensation 17.1 14.4 40.0 23.3 Share appreciation rights 1.1 3.4 3.4 4.6 20.4 22.8 54.9 37.2 Impact of accelerated vesting on equity awards (1) — 2.8 — 2.8 Total share-based compensation expense $ 20.4 $ 25.6 $ 54.9 $ 40.0 Tax impact (2) (4.3) (5.3) (10.9) (8.2) Reduction in net income $ 16.1 $ 20.3 $ 44.0 $ 31.8 ___________________ (1) Represents the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements. (2) Represents the income tax benefit recognized in the unaudited condensed consolidated statements of operations for share-based compensation arrangements prior to the effects of changes in the valuation allowance. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Share-Based Compensation Expense: Direct operating $ 0.5 $ 0.5 $ 0.5 $ 0.9 Distribution and marketing 0.2 0.2 0.3 0.3 General and administration 19.7 22.1 54.1 36.0 Restructuring and other — 2.8 — 2.8 $ 20.4 $ 25.6 $ 54.9 $ 40.0
Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity	The following table sets forth the stock option, SARs, restricted stock and restricted share unit activity during the six months ended September 30, 2021: Stock Options and SARs Restricted Stock and Restricted Share Units Class A Voting Shares Class B Non-Voting Shares Class A Voting Shares Class B Non-Voting Shares Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value (Number of shares in millions) Outstanding at March 31, 2021 5.5 $24.23 21.2 $15.85 — (1) $11.10 9.1 $8.71 Granted — — 1.0 $12.36 — (1) $13.16 4.7 $14.19 Options exercised or restricted stock or RSUs vested — (1) $11.05 (0.2) $11.82 — (1) $12.05 (5.3) $8.83 Forfeited or expired — (1) $23.07 (0.2) $24.64 — — (0.4) $8.65 Outstanding at September 30, 2021 5.5 $24.32 21.8 $15.62 — (1) $11.51 8.1 $11.88 __________________ (1) Represents less than 0.1 million shares.

Restructuring and Other (Tables

Restructuring and Other (Tables)	6 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Other	Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable. During the three and six months ended September 30, 2021 and 2020, the Company also incurred certain other unusual charges related to the COVID-19 global pandemic. The following table sets forth restructuring and other and COVID-19 related charges and the statement of operations line items they are included in for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Restructuring and other: Severance (1) Cash $ 1.3 $ 8.5 $ 3.8 $ 10.6 Accelerated vesting on equity awards (see Note 11) — 2.8 — 2.8 Total severance costs 1.3 11.3 $ 3.8 $ 13.4 COVID-19 related charges included in restructuring and other (2) 0.5 0.3 0.8 0.8 Transaction and related costs (3) 1.7 1.8 2.1 2.2 Total Restructuring and Other 3.5 13.4 6.7 16.4 COVID-19 related charges (benefit) not included in restructuring and other, included in: Direct operating expense (4) (1.0) 22.3 0.5 28.1 Distribution and marketing expense (4) 0.2 6.1 0.3 10.7 Total restructuring and other and COVID-19 related charges $ 2.7 $ 41.8 $ 7.5 $ 55.2 _______________________ (1) Severance costs in the three and six months ended September 30, 2021 and 2020 were primarily related to restructuring activities in connection with cost-saving initiatives and recent acquisitions. (2) During the three and six months ended September 30, 2021, the Company has incurred certain costs primarily related to incremental costs required to adhere to health and safety protocols and other incremental costs associated with the COVID-19 global pandemic. In the three and six months ended September 30, 2020, these costs were primarily related to transitioning the Company to a remote-work environment and other incremental costs associated with the COVID-19 global pandemic. (3) Transaction and related costs in the three and six months ended September 30, 2021 and 2020 reflect transaction, integration and legal costs associated with certain strategic transactions, restructuring activities and legal matters. (4) In connection with the disruptions associated with the COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, and the related economic disruption, including the worldwide closure of theaters, international travel restrictions and the pausing of motion picture and television productions, during the three and six months ended September 30, 2021 and 2020 the Company incurred certain incremental costs which were expensed in the period. The charges (benefit) included in direct operating expense includes incremental costs associated with the pausing and restarting of productions including certain cast and crew, idle facilities and equipment costs resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries, and in the three and six months ended September 30, 2020, these charges also included film impairment due to changes in performance expectations resulting from circumstances associated with the COVID-19 global pandemic. In the three months ended September 30, 2021, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. In addition, the costs included in distribution and marketing expense primarily consist of contractual marketing spends for film releases and events that have been canceled or delayed and will provide no economic benefit. The Company is in the process of seeking additional insurance recovery for some of these costs. The ultimate amount of insurance recovery cannot be estimated at this time. Changes in the restructuring and other severance liability were as follows for the six months ended September 30, 2021 and 2020: Six Months Ended September 30, 2021 2020 (Amounts in millions) Severance liability Beginning balance $ 5.7 $ 11.1 Accruals 3.8 10.6 Severance payments (6.5) (10.8) Ending balance (1) $ 3.0 $ 10.9 _______________________

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment information is presented in the table below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Segment revenues Motion Picture $ 330.9 $ 257.6 $ 622.1 $ 538.3 Television Production 336.0 197.2 722.1 392.9 Media Networks 384.7 388.3 767.0 755.5 Intersegment eliminations (163.8) (98.1) (322.2) (128.0) $ 887.8 $ 745.0 $ 1,789.0 $ 1,558.7 Intersegment revenues Motion Picture $ 2.8 $ 7.1 $ 7.2 $ 10.2 Television Production 161.0 91.0 315.0 117.8 Media Networks — — — — $ 163.8 $ 98.1 $ 322.2 $ 128.0 Gross contribution Motion Picture $ 124.5 $ 107.8 $ 193.2 $ 237.6 Television Production 38.0 21.2 51.0 66.9 Media Networks 28.3 114.9 137.6 207.2 Intersegment eliminations (3.1) (2.7) 5.5 (10.4) $ 187.7 $ 241.2 $ 387.3 $ 501.3 Segment general and administration Motion Picture $ 22.7 $ 24.8 $ 47.1 $ 53.6 Television Production 9.5 11.3 19.5 22.0 Media Networks 22.8 22.0 43.9 42.5 $ 55.0 $ 58.1 $ 110.5 $ 118.1 Segment profit Motion Picture $ 101.8 $ 83.0 $ 146.1 $ 184.0 Television Production 28.5 9.9 31.5 44.9 Media Networks 5.5 92.9 93.7 164.7 Intersegment eliminations (3.1) (2.7) 5.5 (10.4) $ 132.7 $ 183.1 $ 276.8 $ 383.2
Reconciliation Of Total Segment Profit To The Company's Income (Loss) Before Income Taxes	The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Company’s total segment profit $ 132.7 $ 183.1 $ 276.8 $ 383.2 Corporate general and administrative expenses (24.5) (27.1) (48.8) (53.5) Adjusted depreciation and amortization (1) (10.8) (12.1) (21.0) (22.1) Restructuring and other (2) (3.5) (13.4) (6.7) (16.4) COVID-19 related (charges) benefit included in direct operating expense and distribution and marketing expense (3) 0.8 (28.4) (0.8) (38.8) Adjusted share-based compensation expense (4) (20.4) (22.8) (54.9) (37.2) Purchase accounting and related adjustments (5) (44.5) (49.6) (94.5) (96.1) Operating income 29.8 29.7 50.1 119.1 Interest expense (44.0) (45.7) (85.7) (90.2) Interest and other income 24.1 0.1 28.0 1.8 Other expense (2.7) (0.7) (4.3) (2.3) Loss on extinguishment of debt (0.4) — (27.1) — Gain (loss) on investments 1.5 (4.7) 1.5 0.4 Equity interests income (loss) 0.4 (1.9) 1.1 (4.5) Income (loss) before income taxes $ 8.7 $ (23.2) $ (36.4) $ 24.3 ___________________ (1) Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Depreciation and amortization $ 44.4 $ 49.6 $ 87.8 $ 97.1 Less: Amount included in purchase accounting and related adjustments (33.6) (37.5) (66.8) (75.0) Adjusted depreciation and amortization $ 10.8 $ 12.1 $ 21.0 $ 22.1 (2) Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable (see Note 13). (3) In connection with the disruptions associated with the COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, during the three and six months ended September 30, 2021 the Company has incurred a benefit of $(0.8) million and charges of $0.8 million, respectively, net of insurance recoveries, in incremental direct operating and distribution and marketing expense (three and six months ended September 30, 2020 - $28.4 million and $38.8 million, respectively) (see Note 13). These charges are excluded from segment operating results. (4) The following table reconciles total share-based compensation expense to adjusted share-based compensation expense: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Total share-based compensation expense $ 20.4 $ 25.6 $ 54.9 $ 40.0 Less: Amount included in restructuring and other (i) — (2.8) — (2.8) Adjusted share-based compensation $ 20.4 $ 22.8 $ 54.9 $ 37.2 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements. (1) Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Purchase accounting and related adjustments: Direct operating $ 0.1 $ 0.6 $ 0.5 $ 0.9 General and administrative expense 10.8 11.5 27.2 20.2 Depreciation and amortization 33.6 37.5 66.8 75.0 $ 44.5 $ 49.6 $ 94.5 $ 96.1
Reconciliation of Segment General and Administrative Expense to Consolidated	The following table reconciles segment general and administration expense to the Company's total consolidated general and administration expense: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) General and administration Segment general and administrative expenses $ 55.0 $ 58.1 $ 110.5 $ 118.1 Corporate general and administrative expenses 24.5 27.1 48.8 53.5 Share-based compensation expense included in general and administrative expense 19.7 22.1 54.1 36.0 Purchase accounting and related adjustments 10.8 11.5 27.2 20.2 $ 110.0 $ 118.8 $ 240.6 $ 227.8
Reconciliation of Assets from Segment to Consolidated	The reconciliation of total segment assets to the Company’s total consolidated assets is as follows: September 30, March 31, (Amounts in millions) Assets Motion Picture $ 1,761.7 $ 1,212.4 Television Production 1,792.5 1,757.9 Media Networks 4,451.1 4,399.3 Other unallocated assets (1) 742.1 936.6 $ 8,747.4 $ 8,306.2 _____________________ (1) Other unallocated assets primarily consist of cash, other assets and investments.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Outstanding	As of September 30, 2021, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 16 months from September 30, 2021): September 30, 2021 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling £4.7 in exchange for $6.5 £0.72 Hungarian Forint HUF 10,669.0 in exchange for $35.6 HUF 299.86 Euro €10.9 in exchange for $13.9 €0.79 Canadian Dollar C$2.5 in exchange for $2.3 C$1.13 Czech Koruna CZK99.9 in exchange for $4.4 CZK22.57 Effective Date Notional Amount Fixed Rate Paid Maturity Date (1) (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 19, 2020 $700.0 1.923% March 23, 2030 (2) May 19, 2020 $350.0 2.531% March 23, 2027 (2) June 15, 2020 $150.0 2.343% March 23, 2027 (2) August 14, 2020 $200.0 1.840% March 23, 2030 (2) Total $1,700.0 __________________ (1) Subject to a mandatory early termination date of March 23, 2025. (2) These pay-fixed interest rate swaps are considered hybrid instruments with a financing component and an embedded at-market derivative that was designated as a cash flow hedge (see discussion of cash flow presentation above). Not Designated. As of September 30, 2021, the Company had the following pay-fixed receive-variable and offsetting pay-variable receive-fixed interest rate swaps outstanding, which are not designated as cash flow hedges: Pay-Fixed Receive-Variable (1) Offsetting Pay-Variable Receive-Fixed (1) Effective Date Notional Amount Fixed Rate Paid Effective Date Notional Amount Fixed Rate Received Maturity Date (in millions) (in millions) May 23, 2018 $700.0 2.915% May 19, 2020 $700.0 2.915% March 24, 2025 June 25, 2018 $200.0 2.723% August 14, 2020 $200.0 2.723% March 23, 2025 July 31, 2018 $300.0 2.885% May 19, 2020 $300.0 2.885% March 23, 2025 December 24, 2018 $50.0 2.744% May 19, 2020 $50.0 2.744% March 23, 2025 December 24, 2018 $100.0 2.808% June 15, 2020 $100.0 2.808% March 23, 2025 December 24, 2018 $50.0 2.728% June 15, 2020 $50.0 2.728% March 23, 2025 Total $1,400.0 Total $1,400.0 __________________ (1) During the fiscal year ended March 31, 2021, the Company completed a series of transactions to amend and extend certain interest rate swap agreements, and as part of these transactions, the $1.4 billion pay-fixed receive-variable interest rate swaps presented in the table above were de-designated, and the Company entered into $1.4 billion of pay-variable receive-fixed interest rate swaps, as presented in the table above, which are designed to offset the terms of the $1.4 billion of pay-fixed receive-variable swaps in the table above. At the time of the de-designation of the above $1.4 billion in pay-fixed receive-variable interest rate swaps, there was approximately $163.0 million of unrealized losses recorded in accumulated other comprehensive income (loss). This amount is being amortized to interest expense through the remaining term of the de-designated swaps unless it becomes probable that the cash flows originally hedged will not occur, in which case the proportionate amount of the loss will be recorded to interest expense at that time. The $1.4 billion of pay-fixed receive-variable interest rate swaps de-designated as cash flow hedges and the $1.4 billion of offsetting pay-variable receive-fixed swaps are marked to market with changes in fair value recognized, along with the fixed and variable payments on these swaps, in interest expense, which are expected to nearly offset each other.
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income, Location And Effect	The following table presents the pre-tax effect of the Company's derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive loss $ 0.3 $ (0.4) $ 0.2 $ (0.6) Loss reclassified from accumulated other comprehensive loss into direct operating expense $ (0.2) $ — $ (0.4) $ (0.1) Interest rate swaps Gain (loss) recognized in accumulated other comprehensive loss $ 1.9 $ (10.5) $ (38.9) $ (28.2) Loss reclassified from accumulated other comprehensive loss into interest expense $ (8.1) $ (9.6) $ (16.4) $ (17.0) Derivatives not designated as cash flow hedges: Forward exchange contracts Gain recognized in direct operating expense $ — $ — $ — $ 0.3 Interest rate swaps Loss reclassified from accumulated other comprehensive loss into interest expense $ (8.5) $ (8.0) $ (17.0) $ (11.4) Total direct operating expense on consolidated statements of operations $ 483.2 $ 366.8 $ 969.3 $ 789.8 Total interest expense on consolidated statements of operations $ 44.0 $ 45.7 $ 85.7 $ 90.2
Derivative Instruments by Balance Sheet Location	As of September 30, 2021 and March 31, 2021, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company's use of derivatives: September 30, 2021 Other Current Assets Other Non-Current Assets Accounts Payable and Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 2.1 $ — $ 2.6 $ — Interest rate swaps — 52.3 — 7.7 Derivatives not designated as cash flow hedges: Interest rate swaps (1) — (25.0) — 115.4 Fair value of derivatives $ 2.1 $ 27.3 $ 2.6 $ 123.1 ________________ (1) Includes $93.1 million and $50.2 million included in other non-current assets and other non-current liabilities, respectively, representing the financing element of certain hybrid instruments, which is offset by the pay-variable receive-fixed interest rate swaps outstanding at September 30, 2021. March 31, 2021 Other Current Assets Other Non-Current Assets Accounts Payable and Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 1.5 $ — $ 2.6 $ — Interest rate swaps — 72.7 — 5.6 Derivatives not designated as cash flow hedges: Interest rate swaps (1) — (21.9) — 127.1 Fair value of derivatives $ 1.5 50.8 $ 2.6 132.7 ________________ (1) Includes $98.2 million and $54.3 million included in other non-current assets and other non-current liabilities, respectively, representing the financing element of certain hybrid instruments, which is offset by the pay-variable receive-fixed interest rate swaps outstanding at March 31, 2021.

Additional Financial Informat_2

Additional Financial Information (Tables)	6 Months Ended
	Sep. 30, 2021
Additional Financial Information [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheet to the total amounts reported in the unaudited condensed consolidated statement of cash flows at September 30, 2021. At September 30, 2021, restricted cash included in other current assets represents amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility and IP Credit Facility. There were no material amounts of restricted cash in the unaudited condensed consolidated balance sheet as of March 31, 2021. September 30, (Amounts in millions) Cash and cash equivalents $ 442.6 Restricted cash included in other current assets 5.2 Total cash, cash equivalents and restricted cash $ 447.8
Schedule of Other Assets	The composition of the Company’s other assets is as follows as of September 30, 2021 and March 31, 2021: September 30, March 31, (Amounts in millions) Other current assets Prepaid expenses and other $ 73.7 $ 68.0 Cash consideration receivable for sale of Pantaya (see Note 2) — 123.6 Product inventory 16.3 14.3 Tax credits receivable 96.3 68.4 $ 186.3 $ 274.3 Other non-current assets Prepaid expenses and other $ 23.1 $ 25.8 Accounts receivable 42.7 49.4 Tax credits receivable 259.7 181.2 Operating lease right-of-use assets 139.8 127.0 Interest rate swap assets 27.2 50.8 $ 492.5 $ 434.2
Summary of Receivables Transferred	The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 407.2 $ 341.8 $ 747.6 $ 655.0 Net cash proceeds received 404.9 341.2 743.4 652.9 Loss recorded related to transfers of receivables 2.3 0.6 4.2 2.1 The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 52.3 $ 33.7 $ 91.4 $ 86.0 Less amounts from collections reinvested under revolving agreement (34.6) (33.7) (63.9) (75.0) Proceeds from new transfers 17.7 — 27.5 11.0 Collections not reinvested and remitted or to be remitted (21.2) (3.9) (33.5) (14.3) Net cash proceeds paid or to be paid $ (3.5) $ (3.9) $ (6.0) $ (3.3) Carrying value of receivables transferred and derecognized (1) $ 51.7 $ 33.5 $ 90.7 $ 85.5 Obligations recorded $ 1.0 $ 0.2 $ 0.9 $ 0.6 Loss recorded related to transfers of receivables $ 0.4 $ — $ 0.2 $ 0.2 ___________________ (1) Receivables net of unamortized discounts on long-term, non-interest bearing receivables.
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in the components of accumulated other comprehensive loss, net of tax: Foreign currency translation adjustments Net unrealized loss on cash flow hedges Total (Amounts in millions) March 31, 2021 $ (15.1) $ (68.2) $ (83.3) Other comprehensive loss (1.0) (38.7) (39.7) Reclassifications to net loss (1) — 33.8 33.8 September 30, 2021 $ (16.1) $ (73.1) $ (89.2) March 31, 2020 $ (18.8) $ (187.2) $ (206.0) Other comprehensive income (loss) 0.8 (28.8) (28.0) Reclassifications to net loss (1) — 28.5 28.5 September 30, 2020 $ (18.0) $ (187.5) $ (205.5) ___________________ (1) Represents $0.4 million included in direct operating expense and $33.4 million included in interest expense on the unaudited condensed consolidated statement of operations in the six months ended September 30, 2021 (six months ended September 30, 2020 - $0.1 million included in direct operating expense and $28.4 million included in interest expense) (see Note 16).
Supplemental Schedule of Cash Flow Information	The supplemental schedule of non-cash investing and financing activities is presented below: Six Months Ended September 30, 2021 2020 (Amounts in millions) Non-cash investing activities: Accrued equity-method investment $ 19.0 $ — Decrease in finance lease right-of-use asset due to a reassessment event (1) $ — $ (42.0) Non-cash financing activities: Decrease in finance lease liability due to a reassessment event (1) $ — $ (48.6) ______________ (1) During the three months ended September 30, 2020, the Company reassessed the lease term of the Starz commercial building, which resulted in a change in classification of this lease from a finance lease to an operating lease. Supplemental cash flow information related to leases was as follows: Six Months Ended September 30, 2021 2020 (Amounts in millions) Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 38.8 $ 10.4 Increase in right-of-use assets and lease liability due to a reassessment event (1) : Operating leases - increase in right-of-use assets $ — $ 6.0 Operating leases - increase in lease liability $ — $ 12.6 ______________

General (Narrative) (Details)

General (Narrative) (Details) title in Thousands	Sep. 30, 2021title
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of titles in library	17

Acquisitions and Dispositions (

Acquisitions and Dispositions (Narrative) (Details) $ in Millions	Jul. 15, 2021USD ($)title	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)
Asset Acquisition [Line Items]
Cash consideration		$ 123.6	$ 0
Spyglass Library
Asset Acquisition [Line Items]
Number of titles acquired | title	200
Spyglass
Asset Acquisition [Line Items]
Equity method investment, ownership percentage	18.90%
Spyglass | Spyglass Library
Asset Acquisition [Line Items]
Purchase price of asset acquisition and preferred equity interest	$ 191.4
Cash paid at closing for assets acquisition and preferred equity interest	171.4
Asset acquisition and preferred equity interest, deferred purchase consideration payable	$ 20
Asset acquisition and preferred equity interest, period to pay deferred purchase consideration payable	2 years
Disposal Group, Not Discontinued Operations | Pantaya
Asset Acquisition [Line Items]
Equity interest sold		75.00%
Cash consideration		$ 123.6
Gain on sale of Pantaya		(44.1)
Goodwill allocated related to sale of Pantaya		$ 69

Investment In Films and Telev_3

Investment In Films and Television Programs and Licensed Program Rights (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Segment Reporting Information [Line Items]
Acquired film and television libraries, unamortized costs	$ 157.5	$ 18.3
Acquired libraries, remaining amortization period	19 years 8 months 12 days

Investment In Films and Telev_4

Investment In Films and Television Programs and Licensed Program Rights (Investment in Films and Television Programs and Licensed Program Rights) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Individual Monetization
Released, net of accumulated amortization	$ 516.5	$ 414.7
Completed and not released	24	60.3
In progress	743.1	418.7
In development	97.8	92.9
Total	1,381.4	986.6
Film Group Monetization
Released, net of accumulated amortization	403.5	200.4
Completed and not released	0	0
In progress	581.1	497.1
In development	22.9	28.2
Total	1,007.5	725.7
Licensed program rights, net of accumulated amortization	399.2	510.4
Investment in films and television programs and licensed program rights, net	$ 2,788.1	$ 2,222.7

Investment In Films and Telev_5

Investment In Films and Television Programs and Licensed Program Rights (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investment In Films And Television Programs and Program Rights [Abstract]
Individual monetization	$ 183.7	$ 106.3	$ 419.5	$ 228.8
Film group monetization	88.6	66.4	120.7	114.6
Licensed program rights	86.7	77.5	189.9	188
Total amortization of films and television programs and licensed program rights	$ 359	$ 250.2	$ 730.1	$ 531.4

Investment In Films and Telev_6

Investment In Films and Television Programs and Licensed Program Rights (Impairments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	$ 1.7	$ 18.5	$ 26.7	$ 19.1
Not included in segment operating results
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	0	15.4	0	15.4
Motion Picture | Reportable Segments
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	0.1	0.3	0.1	0.9
Television Production | Reportable Segments
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	$ 1.6	$ 2.8	$ 26.6	$ 2.8

Investments (Investments by Cat

Investments (Investments by Category) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments in equity method investees	$ 58.8	$ 30.1
Other investments	2.3	1.8
Investments	$ 61.1	$ 31.9

Investments (Equity Method Inve

Investments (Equity Method Investments Narrative) (Details)	Sep. 30, 2021
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	9.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%

Investments (Summarized Balance

Investments (Summarized Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Current assets	$ 1,048.2	$ 1,186.7
Current liabilities	1,897.8	1,692.9
Equity Method Investees
Schedule of Equity Method Investments [Line Items]
Current assets	110.1	135.2
Non-current assets	91.1	177.7
Current liabilities	208.6	201.1
Non-current liabilities	$ 59.8	$ 91.7

Investments (Summarized Stateme

Investments (Summarized Statements of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Net loss	$ 3.1	$ (21.7)	$ (48.5)	$ 24.5
Equity Method Investees
Schedule of Equity Method Investments [Line Items]
Revenues	22.8	22.3	37.1	46.8
Gross profit	4.8	7.1	8.7	13.8
Net loss	$ (8.7)	$ (16.1)	$ (19.9)	$ (33.8)

Investments (Gain (Loss) on Inv

Investments (Gain (Loss) on Investments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Unrealized gains (losses) on equity securities	$ (0.2)	$ 0.3	$ (0.7)	$ 0.8
Impairments of equity method investments and other investments	0	(5)	0	(5)
Gain on sale of other investments and other investment gains	1.7	0	2.2	4.6
Gain (loss) on investments	$ 1.5	$ (4.7)	$ 1.5	$ 0.4

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Apr. 01, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Total corporate debt	$ 2,499.6		$ 2,676.9
Unamortized debt issuance costs	(64.6)		(46)
Total debt, net	2,435		2,630.9
Less current portion	(40)		(88)
Non-current portion of debt	2,395		2,542.9
Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt	0		0
Term Loan | 2023 Term Loan A
Debt Instrument [Line Items]
Total corporate debt	204.3		660
Term Loan | 2026 Term Loan A
Debt Instrument [Line Items]
Total corporate debt	444.9		0
Term Loan | Term Loan B
Debt Instrument [Line Items]
Total corporate debt	850.4		952.6
Senior Notes | 5.500% Senior Notes
Debt Instrument [Line Items]
Total corporate debt	$ 1,000		0
Coupon rate	5.50%	5.50%
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Total corporate debt	$ 0		518.7
Coupon rate	5.875%	5.875%
Senior Notes | 6.375% Senior Notes
Debt Instrument [Line Items]
Total corporate debt	$ 0		$ 545.6
Coupon rate	6.375%	6.375%

Debt (Narrative - Transactions)

Debt (Narrative - Transactions) (Details) - USD ($) $ in Millions	Apr. 01, 2021	Nov. 04, 2021	Sep. 30, 2021	Apr. 06, 2021
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of debt instrument amended				$ 1,250
Principal amount of debt still outstanding with a maturity of March 22, 2023				250
Revolving credit facility, maximum borrowing capacity			$ 1,500
5.875% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate	5.875%		5.875%
Principal amount of debt redeemed	$ 518.7
Debt instrument, redemption premium	$ 15.2
6.375% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate	6.375%		6.375%
Principal amount of debt redeemed	$ 545.6
Debt instrument, redemption premium	$ 17.4
5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate	5.50%		5.50%
Principal amount issued	$ 1,000
2026 Term Loan A | Term Loan
Debt Instrument [Line Items]
Principal amount of debt instrument amended				444.9
2023 Term Loan A | Term Loan
Debt Instrument [Line Items]
Principal amount of debt still outstanding with a maturity of March 22, 2023				$ 215.1
Term Loan B Facility One | Term Loan
Debt Instrument [Line Items]
Debt instrument, amount paid for repurchases			$ 44.2
Debt instrument, principal amount repurchased			44.5
Term Loan B Facility Two | Term Loan
Debt Instrument [Line Items]
Debt instrument, amount paid for repurchases			95.3
Debt instrument, principal amount repurchased			96
2023 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			250
2023 Revolving Credit Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Amount of revolving credit facility commitments terminated		$ 250
2026 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			$ 1,250
2026 Revolving Credit Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,250

Debt (Narrative - Senior Credit

Debt (Narrative - Senior Credit Facilities) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2021USD ($)increase
Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, maximum borrowing capacity	$ 1,500
Revolving credit facility, available amount	$ 1,500
Number of possible increases in margin | increase	2
Effective interest rate	1.83%
Change in control, trigger percentage	50.00%
Letter of Credit
Line of Credit Facility [Abstract]
Letters of credit outstanding, amount	$ 0
Minimum | Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, commitment fee annual percentage	0.25%
Maximum | Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, commitment fee annual percentage	0.375%
Base Rate | Revolving Credit Facility
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	0.75%
LIBOR | Revolving Credit Facility
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	1.75%
Potential increases in interest rate upon certain increases to leverage ratios, total	0.50%
Potential increase in interest rate upon certain increases to leverage ratios, per increase	0.25%
LIBOR | Minimum | Revolving Credit Facility
Line of Credit Facility [Abstract]
Coupon rate	0.00%
Term Loan B | Term Loan
Line of Credit Facility [Abstract]
Effective interest rate	2.33%
Quarterly principal payment percent	0.25%
Term Loan B | Base Rate | Term Loan
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	1.25%
Term Loan B | LIBOR | Term Loan
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	2.25%
Term Loan B | LIBOR | Minimum | Term Loan
Line of Credit Facility [Abstract]
Coupon rate	0.00%
2026 Term Loan A | Term Loan
Line of Credit Facility [Abstract]
Quarterly principal payment percent	1.25%
Quarterly principal payment percent, year two	1.75%
Quarterly principal payment percent, year three	2.50%
Quarterly principal payment percent, year four	2.50%
2026 Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, maximum borrowing capacity	$ 1,250
2023 Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, maximum borrowing capacity	$ 250
2023 Term Loan A | Term Loan
Line of Credit Facility [Abstract]
Quarterly principal payment percent	1.25%
Quarterly principal payment percent, year two	1.75%
Quarterly principal payment percent, year three	2.50%
Quarterly principal payment percent, year four	2.50%

Debt (Narrative - Senior Notes)

Debt (Narrative - Senior Notes) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Apr. 01, 2021
Senior Credit Facilities And Senior Notes
Debt Instrument [Line Items]
Net loss, amount free of restrictions	$ 48.5
Accumulated deficit, amount free of restrictions	$ 143
5.500% Senior Notes
Debt Instrument [Line Items]
Basis spread on treasury rate	0.50%
5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate	5.50%	5.50%
Debt instrument redemption premium percentage, as a percentage of principal amount prepaid or redeemed	1.00%
Debt instrument, redemption period one | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%
Debt instrument, redemption price, percentage of principal amount that may be redeemed, certain equity offerings	40.00%
Debt instrument, redemption price, certain equity offerings, percentage	105.50%
Debt instrument, redemption, period two | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	102.75%
Debt instrument, redemption, period three | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.375%
Debt instrument, redemption, period four | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%
Change in Control | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
Certain Asset Disposition | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100.00%

Debt (Loss on Extinguishment of

Debt (Loss on Extinguishment of Debt) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0.4	$ 0	$ 27.1	$ 0
Revolving Credit Facility, Term Loan A and Senior Notes
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt			26.4
Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances			62.1
Total			88.5
Revolving Credit Facility, Term Loan A and Senior Notes | New Debt Issuance Costs and Call Premiums
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt			21.2
Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances			31
Total			52.2
Revolving Credit Facility, Term Loan A and Senior Notes | Previously Incurred Debt Issuance Costs
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt			5.2
Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances			31.1
Total			36.3
Term Loan B
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0		0.2
Term Loan B and Other
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt			$ 0.7

Film Related and Other Obliga_3

Film Related and Other Obligations (Components) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Film Related And Other Obligations [Abstract]
Program rights and film obligations	$ 178.8	$ 214.6
Production and related loans	871.9	493.5
IP Credit Facility and other financing obligations	215	0
Total film related and other obligations	1,265.7	708.1
Unamortized debt issuance costs	(7.1)	(4.6)
Total film related and other obligations, net	1,258.6	703.5
Less current portion	(546.4)	(385)
Total non-current film related and other obligations	$ 712.2	$ 318.5

Film Related and Other Obliga_4

Film Related and Other Obligations (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Production Tax Credit Facility | Revolving Credit Facility
Credit facility, maximum principal amount	$ 220
Credit Facility, outstanding amount	205.8	$ 120
Credit facility, available amount	$ 0
Production Tax Credit Facility | Revolving Credit Facility | LIBOR
Basis spread on variable interest rate (as a percent)	1.50%
Effective interest rate	1.58%
Production Tax Credit Facility | Revolving Credit Facility | Base Rate
Basis spread on variable interest rate (as a percent)	0.50%
IP Credit Facility | Secured Debt
Credit facility, maximum principal amount	$ 140
Credit Facility, outstanding amount	$ 140
IP Credit Facility | Secured Debt | LIBOR
Basis spread on variable interest rate (as a percent)	2.25%
Effective interest rate	2.50%
IP Credit Facility | Secured Debt | Base Rate
Basis spread on variable interest rate (as a percent)	1.25%
Minimum | Production And Related Loans
Interest rates on production loans	1.93%
Maximum | Production And Related Loans
Interest rates on production loans	3.11%

Film Related and Other Obliga_5

Film Related and Other Obligations - Cumulative Minimum Guaranteed Payments of IP Credit Facility (Details) - Secured Debt - IP Credit Facility $ in Millions	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
November 14, 2022	$ 26.3
November 14, 2023	52.5
November 14, 2024	78.8
November 14, 2025	105
July 30, 2026	$ 140

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Assets:
Interest rate swaps	$ 27.2	$ 50.8
Other Non-Current Assets
Assets:
Interest rate swaps	27.3	50.8
Other Non-Current Assets | Interest rate swaps, financing element
Liabilities:
Financing element of certain hybrid instruments	93.1	98.2
Fair Value, Measurements, Recurring
Assets:
Available-for-sale equity securities	0.7	1.8
Forward exchange contracts	2.1	1.5
Interest rate swaps	120.4	149
Liabilities:
Forward exchange contracts	(2.6)	(2.6)
Interest rate swaps	(72.9)	(78.4)
Fair Value, Measurements, Recurring | Level 1
Assets:
Available-for-sale equity securities	0.7	1.8
Forward exchange contracts	0	0
Interest rate swaps	0	0
Liabilities:
Forward exchange contracts	0	0
Interest rate swaps	0	0
Fair Value, Measurements, Recurring | Level 2
Assets:
Available-for-sale equity securities	0	0
Forward exchange contracts	2.1	1.5
Interest rate swaps	120.4	149
Liabilities:
Forward exchange contracts	(2.6)	(2.6)
Interest rate swaps	$ (72.9)	$ (78.4)

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Values And Fair Values Of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Apr. 01, 2021	Mar. 31, 2021
Other Non-Current Assets | Interest rate swaps, financing element
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Financing element of certain hybrid instruments	$ 93.1		$ 98.2
Senior Notes | 5.500% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Coupon rate	5.50%	5.50%
Senior Notes | 5.875% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Coupon rate	5.875%	5.875%
Senior Notes | 6.375% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Coupon rate	6.375%	6.375%
Carrying Value
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Financing component of interest rate swaps, fair value disclosure	$ 143.3		152.5
Carrying Value | Term Loan | Term Loan A
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	641.3		651.4
Carrying Value | Term Loan | Term Loan B
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	842.7		942.8
Carrying Value | Senior Notes | 5.500% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	963.8		0
Carrying Value | Senior Notes | 5.875% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	0		506.7
Carrying Value | Senior Notes | 6.375% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	0		540.8
Carrying Value | Production And Related Loans | Production And Related Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	867.5		489
Carrying Value | Line of Credit | IP Credit Facility And Other Financing Obligations
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
IP Credit Facility and other financing obligations, fair value disclosure	212.3		0
Fair Value | Fair Value (Level 2)
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Financing component of interest rate swaps, fair value disclosure	136.6		144.7
Fair Value | Fair Value (Level 2) | Term Loan | Term Loan A
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	620.8		647.6
Fair Value | Fair Value (Level 2) | Term Loan | Term Loan B
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	844		936
Fair Value | Fair Value (Level 2) | Senior Notes | 5.500% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	1,027.5		0
Fair Value | Fair Value (Level 2) | Senior Notes | 5.875% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	0		533.9
Fair Value | Fair Value (Level 2) | Senior Notes | 6.375% Senior Notes
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Senior Notes, fair value disclosure	0		563
Fair Value | Fair Value (Level 2) | Production And Related Loans | Production And Related Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	871.9		493.5
Fair Value | Fair Value (Level 2) | Line of Credit | IP Credit Facility And Other Financing Obligations
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
IP Credit Facility and other financing obligations, fair value disclosure	$ 215		$ 0

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Millions	Nov. 12, 2024	Nov. 12, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interests discount accretion				$ 12.6	$ 11.5
Forecast
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling Interest, Call Period	30 days	30 days
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
First Put/ Call Option, Term				5 years
Put rights exercise period				60 days
Period after expiration of put rights that call rights begin				30 days
Call rights exercise period				60 days
Pilgrim Media Group
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interests discount accretion			$ 2.7
Pilgrim Media Group
Redeemable Noncontrolling Interest [Line Items]
Portion of noncontrolling interest redeemable after first term				25.00%

Noncontrolling Interests (Chang

Noncontrolling Interests (Changes In Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 219.1	$ 167.8
Net loss attributable to redeemable noncontrolling interests	(10.6)	(8.4)
Noncontrolling interests discount accretion	12.6	11.5
Adjustments to redemption value	22.2	13.4
Cash distributions	(0.1)	(2)
Ending balance	$ 243.2	$ 182.3

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 887.8	$ 745	$ 1,789	$ 1,558.7
Operating segments | Motion Picture
Disaggregation of Revenue [Line Items]
Revenues	330.9	257.6	622.1	538.3
Operating segments | Motion Picture | Theatrical
Disaggregation of Revenue [Line Items]
Revenues	16	0	44.4	0.3
Operating segments | Motion Picture | Digital Media
Disaggregation of Revenue [Line Items]
Revenues	129.8	116.1	242	243.9
Operating segments | Motion Picture | Packaged Media
Disaggregation of Revenue [Line Items]
Revenues	31.2	33.9	65.2	73.5
Operating segments | Motion Picture | Home Entertainment
Disaggregation of Revenue [Line Items]
Revenues	161	150	307.2	317.4
Operating segments | Motion Picture | Television
Disaggregation of Revenue [Line Items]
Revenues	90.9	59.1	141.6	117.6
Operating segments | Motion Picture | International
Disaggregation of Revenue [Line Items]
Revenues	59.3	45.5	122.1	97.9
Operating segments | Motion Picture | Other
Disaggregation of Revenue [Line Items]
Revenues	3.7	3	6.8	5.1
Operating segments | Television Production
Disaggregation of Revenue [Line Items]
Revenues	336	197.2	722.1	392.9
Operating segments | Television Production | Television
Disaggregation of Revenue [Line Items]
Revenues	228.2	116.7	500.4	212.6
Operating segments | Television Production | Digital Media
Disaggregation of Revenue [Line Items]
Revenues	33.2	15.9	57.8	61.8
Operating segments | Television Production | Packaged Media
Disaggregation of Revenue [Line Items]
Revenues	1	1.1	3.2	1.8
Operating segments | Television Production | Home Entertainment
Disaggregation of Revenue [Line Items]
Revenues	34.2	17	61	63.6
Operating segments | Television Production | International
Disaggregation of Revenue [Line Items]
Revenues	57	47.9	124.4	94.3
Operating segments | Television Production | Other
Disaggregation of Revenue [Line Items]
Revenues	16.6	15.6	36.3	22.4
Operating segments | Media Networks
Disaggregation of Revenue [Line Items]
Revenues	384.7	388.3	767	755.5
Operating segments | Media Networks | Programming
Disaggregation of Revenue [Line Items]
Revenues	384.7	388.3	767	755.5
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(163.8)	(98.1)	(322.2)	(128)
Intersegment Eliminations | Motion Picture
Disaggregation of Revenue [Line Items]
Revenues	(2.8)	(7.1)	(7.2)	(10.2)
Intersegment Eliminations | Television Production
Disaggregation of Revenue [Line Items]
Revenues	(161)	(91)	(315)	(117.8)
Intersegment Eliminations | Media Networks
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Domestic | Operating segments | Media Networks | Programming
Disaggregation of Revenue [Line Items]
Revenues	358.6	374.1	716.7	731.3
Domestic | Operating segments | Media Networks | Other Streaming Services
Disaggregation of Revenue [Line Items]
Revenues		13.3		24.8
International | Operating segments | Media Networks | Programming
Disaggregation of Revenue [Line Items]
Revenues	$ 26.1	$ 14.2	$ 50.3	$ 24.2

Revenue (Remaining Performance

Revenue (Remaining Performance Obligations - Timing) (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 1,640
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 711.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 470.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 152.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 305.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period

Revenue (Contract with Customer

Revenue (Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, net - current	$ 419.3	$ 383.7
Accounts receivable, net - current, Addition (Reduction)	35.6
Accounts receivable, net - non-current	42.7	49.4
Accounts receivable, net - non-current, Addition (Reduction)	(6.7)
Contract asset - current	29.6	25.6
Contract asset - current, Addition (Reduction)	4
Contract asset - non-current	13.7	10.3
Contract asset - non-current, Addition (Reduction)	3.4
Deferred revenue - current	276.7	165.7
Deferred revenue - current, Addition (Reduction)	111
Deferred revenue	49	$ 56.2
Deferred revenue - non-current, Addition (Reduction)	$ (7.2)

Revenue (Provision for Doubtful

Revenue (Provision for Doubtful Accounts) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 6.5
(Benefit) provision for doubtful accounts	(0.6)
Uncollectible accounts written-off	(0.1)
Ending Balance	$ 5.8

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized in period from performance obligations satisfied in previous period	$ 60	$ 132.8
Revenues recognized	$ 42.9	$ 107

Net Income (Loss) Per Share (Ba

Net Income (Loss) Per Share (Basic) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders	$ 7.5	$ (18.4)	$ (37.9)	$ 32.7
Denominator:
Weighted average common shares outstanding (in shares)	224.4	220.4	223.1	220
Basic net income (loss) per common share (in usd per share)	$ 0.03	$ (0.08)	$ (0.17)	$ 0.15

Net Income (Loss) Per Share (Di

Net Income (Loss) Per Share (Diluted) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders	$ 7.5	$ (18.4)	$ (37.9)	$ 32.7
Denominator:
Weighted average common shares outstanding (in shares)	224.4	220.4	223.1	220
Effect of dilutive securities:
Share purchase options	1.8	0	0	0
Restricted share units and restricted stock (in shares)	2.3	0	0	0.6
Diluted (in shares)	228.5	220.4	223.1	220.6
Diluted net income (loss) per common share (in usd per share)	$ 0.03	$ (0.08)	$ (0.17)	$ 0.15
Anti-dilutive shares excluded from calculation of diluted earnings per share due to net loss (in shares)		0.9	5.7

Net Income (Loss) Per Share (An

Net Income (Loss) Per Share (Anti-Dilutive Shares Issuable) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares excluded from calculation of diluted earnings per share due to net loss (in shares)		0.9	5.7
Anti-dilutive shares issuable (in shares)	22.4	32.2	18.9	33.8
Share purchase options
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	18.6	28.2	16	28
Restricted Share Units (RSUs)
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	1.7	1.4	0.9	2
Other issuable shares
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	2.1	2.6	2	3.8

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Sep. 14, 2021	Sep. 30, 2020	Nov. 04, 2021	Sep. 30, 2021	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LGEC 2019 Performance Incentive Plan, number of additional shares authorized (in shares)	5
LGEC 2019 Performance Incentive Plan, number of shares authorized (in shares)	21.1
Repurchases of common shares, value		$ 1
Class A Voting Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized common shares (in shares)				500	500
Repurchases of common shares, shares		0.2
Repurchases of common shares, value		$ 1
Repurchases of common shares, weighted average repurchase price per share		$ 5.75
Class B Non-Voting Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized common shares (in shares)				500	500
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchases of common shares, value			$ 288.1
Share repurchase program, remaining authorized repurchase amount			$ 179.9

Capital Stock (Common Shares Re

Capital Stock (Common Shares Reserved for Future Issuance) (Details) - shares shares in Millions	Sep. 30, 2021	Mar. 31, 2021
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	54.3	51.4
Stock Options and SARs
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	27.3	26.7
Restricted Stock and Restricted Share Units - Unvested
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	8.1	9.1
Common shares available for future issuance
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	18.9	15.6

Capital Stock (Share-Based Comp

Capital Stock (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 20.4	$ 22.8	$ 54.9	$ 37.2
Impact of accelerated vesting on equity awards	0	2.8	0	2.8
Total share-based compensation expense	20.4	25.6	54.9	40
Tax impact	(4.3)	(5.3)	(10.9)	(8.2)
Reduction in net income	16.1	20.3	44	31.8
Stock Options
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	2.2	5	11.5	9.3
Restricted Share Units and Other Share-based Compensation
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	17.1	14.4	40	23.3
Share Appreciation Rights (SARs)
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 1.1	$ 3.4	$ 3.4	$ 4.6

Capital Stock (Share-based Co_2

Capital Stock (Share-based Compensation Expense by Category) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 20.4	$ 25.6	$ 54.9	$ 40
Direct operating
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	0.5	0.5	0.5	0.9
Distribution and marketing
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	0.2	0.2	0.3	0.3
General and administration
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	19.7	22.1	54.1	36
Restructuring and other
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 0	$ 2.8	$ 0	$ 2.8

Capital Stock (Stock Option, SA

Capital Stock (Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity) (Details) shares in Thousands	6 Months Ended
	Sep. 30, 2021$ / sharesshares
Class A Voting Shares | Stock Options and SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at March 31, 2021 (in shares)	5,500
Granted (in shares)	0
Options exercised (in shares)	0
Forfeited or expired (in shares)	0
Outstanding at September 30, 2021 (in shares)	5,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at March 31, 2021, weighted average exercise price (in usd per share) | $ / shares	$ 24.23
Granted, weighted average exercise price (in usd per share) | $ / shares	0
Options exercised, weighted average exercise price (in usd per share) | $ / shares	11.05
Forfeited or expired, weighted average exercise price (in usd per share) | $ / shares	23.07
Outstanding at September 30, 2021, weighted average exercise price (in usd per share) | $ / shares	$ 24.32
Class A Voting Shares | Restricted Stock and Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at March 31, 2021 (in shares)	0
Granted (in shares)	0
Vested (in shares)	0
Forfeited or expired (in shares)	0
Outstanding at September 30, 2021 (in shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at March 31, 2021, weighted average grant-date fair value (in usd per share) | $ / shares	$ 11.10
Granted, weighted average grant date fair value (in usd per share) | $ / shares	13.16
Restricted stock or RSUs vested, weighted average grant-date fair value (in usd per share) | $ / shares	12.05
Forfeited or expired, weighted average grant-date fair value (in usd per share) | $ / shares	0
Outstanding at September 30, 2021, weighted average grant-date fair value (in usd per share) | $ / shares	$ 11.51
Class B Non-Voting Shares | Stock Options and SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at March 31, 2021 (in shares)	21,200
Granted (in shares)	1,000
Options exercised (in shares)	(200)
Forfeited or expired (in shares)	(200)
Outstanding at September 30, 2021 (in shares)	21,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at March 31, 2021, weighted average exercise price (in usd per share) | $ / shares	$ 15.85
Granted, weighted average exercise price (in usd per share) | $ / shares	12.36
Options exercised, weighted average exercise price (in usd per share) | $ / shares	11.82
Forfeited or expired, weighted average exercise price (in usd per share) | $ / shares	24.64
Outstanding at September 30, 2021, weighted average exercise price (in usd per share) | $ / shares	$ 15.62
Class B Non-Voting Shares | Restricted Stock and Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at March 31, 2021 (in shares)	9,100
Granted (in shares)	4,700
Vested (in shares)	(5,300)
Forfeited or expired (in shares)	(400)
Outstanding at September 30, 2021 (in shares)	8,100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at March 31, 2021, weighted average grant-date fair value (in usd per share) | $ / shares	$ 8.71
Granted, weighted average grant date fair value (in usd per share) | $ / shares	14.19
Restricted stock or RSUs vested, weighted average grant-date fair value (in usd per share) | $ / shares	8.83
Forfeited or expired, weighted average grant-date fair value (in usd per share) | $ / shares	8.65
Outstanding at September 30, 2021, weighted average grant-date fair value (in usd per share) | $ / shares	$ 11.88
Maximum | Class A Voting Shares | Stock Options and SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options exercised (in shares)	(100)
Forfeited or expired (in shares)	(100)
Maximum | Class A Voting Shares | Restricted Stock and Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at March 31, 2021 (in shares)	100
Granted (in shares)	100
Vested (in shares)	(100)
Outstanding at September 30, 2021 (in shares)	100

Restructuring and Other (Restru

Restructuring and Other (Restructuring and Other) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 3.5	$ 13.4	$ 6.7	$ 16.4
COVID-19 related charges (benefit)	(0.8)	28.4	0.8	38.8
Total restructuring and other and COVID-19 related charges	2.7	41.8	7.5	55.2
Direct operating expense
Restructuring Cost and Reserve [Line Items]
COVID-19 related charges (benefit)	(1)	22.3	0.5	28.1
Distribution and marketing
Restructuring Cost and Reserve [Line Items]
COVID-19 related charges	0.2	6.1	0.3	10.7
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other	1.3	11.3	3.8	13.4
Severance | Cash
Restructuring Cost and Reserve [Line Items]
Restructuring and other	1.3	8.5	3.8	10.6
Severance | Accelerated vesting on equity awards
Restructuring Cost and Reserve [Line Items]
Restructuring and other	0	2.8	0	2.8
COVID-19 related charges
Restructuring Cost and Reserve [Line Items]
Restructuring and other	0.5	0.3	0.8	0.8
Transaction and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 1.7	$ 1.8	$ 2.1	$ 2.2

Restructuring and Other (Severa

Restructuring and Other (Severance Liability Rollforward) (Details) - Severance liability - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Restructuring and Other Severance Liability
Beginning balance	$ 5.7	$ 11.1
Accruals	3.8	10.6
Severance payments	(6.5)	(10.8)
Ending balance	3	$ 10.9
Accounts Payable and Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Remaining severance liability, expected to be paid in next 12 months	$ 3

Segment Information (Segment In

Segment Information (Segment Information) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable business segments | segment			3
Segment revenues	$ 887.8	$ 745	$ 1,789	$ 1,558.7
Gross contribution	187.7	241.2	387.3	501.3
Segment general and administration	55	58.1	110.5	118.1
Segment profit	132.7	183.1	276.8	383.2
Reportable Segments
Segment Reporting Information [Line Items]
Segment general and administration	55	58.1	110.5	118.1
Segment profit	132.7	183.1	276.8	383.2
Reportable Segments | Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	330.9	257.6	622.1	538.3
Gross contribution	124.5	107.8	193.2	237.6
Segment general and administration	22.7	24.8	47.1	53.6
Segment profit	101.8	83	146.1	184
Reportable Segments | Television Production
Segment Reporting Information [Line Items]
Segment revenues	336	197.2	722.1	392.9
Gross contribution	38	21.2	51	66.9
Segment general and administration	9.5	11.3	19.5	22
Segment profit	28.5	9.9	31.5	44.9
Reportable Segments | Media Networks
Segment Reporting Information [Line Items]
Segment revenues	384.7	388.3	767	755.5
Gross contribution	28.3	114.9	137.6	207.2
Segment general and administration	22.8	22	43.9	42.5
Segment profit	5.5	92.9	93.7	164.7
Intersegment Eliminations
Segment Reporting Information [Line Items]
Segment revenues	(163.8)	(98.1)	(322.2)	(128)
Gross contribution	(3.1)	(2.7)	5.5	(10.4)
Segment profit	(3.1)	(2.7)	5.5	(10.4)
Intersegment Eliminations | Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	(2.8)	(7.1)	(7.2)	(10.2)
Intersegment Eliminations | Television Production
Segment Reporting Information [Line Items]
Segment revenues	(161)	(91)	(315)	(117.8)
Intersegment Eliminations | Media Networks
Segment Reporting Information [Line Items]
Segment revenues	$ 0	$ 0	$ 0	$ 0

Segment Information (Reconcilia

Segment Information (Reconciliation Of Total Segment Profit To The Company's Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Company’s total segment profit	$ 132.7	$ 183.1	$ 276.8	$ 383.2
Adjusted depreciation and amortization	(10.8)	(12.1)	(21)	(22.1)
Restructuring and other	(3.5)	(13.4)	(6.7)	(16.4)
COVID-19 related (charges) benefit included in direct operating expense and distribution and marketing expense	0.8	(28.4)	(0.8)	(38.8)
Adjusted share-based compensation expense	(20.4)	(22.8)	(54.9)	(37.2)
Operating income	29.8	29.7	50.1	119.1
Interest expense	(44)	(45.7)	(85.7)	(90.2)
Interest and other income	24.1	0.1	28	1.8
Other expense	(2.7)	(0.7)	(4.3)	(2.3)
Loss on extinguishment of debt	(0.4)	0	(27.1)	0
Gain (loss) on investments	1.5	(4.7)	1.5	0.4
Equity interests income (loss)	0.4	(1.9)	1.1	(4.5)
Income (loss) before income taxes	8.7	(23.2)	(36.4)	24.3
Operating segments
Segment Reporting Information [Line Items]
Company’s total segment profit	132.7	183.1	276.8	383.2
Operating segments | Media Networks
Segment Reporting Information [Line Items]
Company’s total segment profit	5.5	92.9	93.7	164.7
Operating segments | Television Production
Segment Reporting Information [Line Items]
Company’s total segment profit	28.5	9.9	31.5	44.9
Corporate general and administrative expense
Segment Reporting Information [Line Items]
Corporate general and administrative expenses	(24.5)	(27.1)	(48.8)	(53.5)
Corporate and reconciling items
Segment Reporting Information [Line Items]
Adjusted depreciation and amortization	(10.8)	(12.1)	(21)	(22.1)
Restructuring and other	(3.5)	(13.4)	(6.7)	(16.4)
COVID-19 related (charges) benefit included in direct operating expense and distribution and marketing expense	0.8	(28.4)	(0.8)	(38.8)
Adjusted share-based compensation expense	(20.4)	(22.8)	(54.9)	(37.2)
Purchase accounting and related adjustments	$ (44.5)	$ (49.6)	$ (94.5)	$ (96.1)

Segment Information (Adjusted D

Segment Information (Adjusted Depreciation and Amortization, and COVID-19 Related Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ 44.4	$ 49.6	$ 87.8	$ 97.1
Adjusted depreciation and amortization	10.8	12.1	21	22.1
COVID-19 related charges (benefit)	(0.8)	28.4	0.8	38.8
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted depreciation and amortization	10.8	12.1	21	22.1
COVID-19 related charges (benefit)	(0.8)	28.4	0.8	38.8
Purchase accounting and related adjustments | Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ (33.6)	$ (37.5)	$ (66.8)	$ (75)

Segment Information (Adjusted S

Segment Information (Adjusted Share-Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	$ 20.4	$ 25.6	$ 54.9	$ 40
Amount included in restructuring and other	0	(2.8)	0	(2.8)
Adjusted share-based compensation expense	20.4	22.8	54.9	37.2
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted share-based compensation expense	20.4	22.8	54.9	37.2
General and administrative expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	19.7	22.1	54.1	36
Restructuring and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	0	2.8	0	2.8
Restructuring and other | Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Amount included in restructuring and other	$ 0	$ 2.8	$ 0	$ 2.8

Segment Information (Purchase A

Segment Information (Purchase Accounting and Related Adjustments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	$ 44.5	$ 49.6	$ 94.5	$ 96.1
Direct operating | Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	0.1	0.6	0.5	0.9
General and administrative expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	10.8	11.5	27.2	20.2
General and administrative expense | Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	10.8	11.5	27.2	20.2
Depreciation and amortization expense | Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	$ 33.6	$ 37.5	$ 66.8	$ 75

Segment Information (Reconcil_2

Segment Information (Reconciliation of Segment General and Administration to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	$ 55	$ 58.1	$ 110.5	$ 118.1
General and administration	110	118.8	240.6	227.8
Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	55	58.1	110.5	118.1
Corporate general and administrative expense
Segment Reporting, Other Significant Reconciling Item [Line Items]
Corporate general and administrative expenses	24.5	27.1	48.8	53.5
Corporate and reconciling items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	44.5	49.6	94.5	96.1
General and administrative expense
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	10.8	11.5	27.2	20.2
General and administrative expense | Corporate and reconciling items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Share-based compensation expense included in general and administrative expense	19.7	22.1	54.1	36
Purchase accounting and related adjustments	$ 10.8	$ 11.5	$ 27.2	$ 20.2

Segment Information (Reconcil_3

Segment Information (Reconciliation of Total Assets By Segment to Consolidated Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 8,747.4	$ 8,306.2
Operating segments | Motion Picture
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,761.7	1,212.4
Operating segments | Television Production
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,792.5	1,757.9
Operating segments | Media Networks
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,451.1	4,399.3
Other unallocated assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 742.1	$ 936.6

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) $ in Millions	Oct. 09, 2018USD ($)	Aug. 30, 2016classActionComplaint	Sep. 30, 2021USD ($)	Jun. 30, 2021numberOfInsurers	Sep. 30, 2021USD ($)	Nov. 05, 2018USD ($)
Fiduciary Litigation
Loss Contingencies [Line Items]
Number of plaintiffs | classActionComplaint		7
Settlement payment amount	$ 92.5
Insurance reimbursement, amount	$ 37.8
Insurance Litigation
Loss Contingencies [Line Items]
Lawsuit for insurance reimbursement, amount						$ 10
Loss Contingency, Claims Settled, Number | numberOfInsurers				1
Net settlement amount			$ 20.2		$ 22.7

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Derivative [Line Items]
Remaining maturity of forward foreign exchange contracts, maximum	16 years
Interest rate swap cash flow hedge loss estimated to be reclassified into earnings during next 12 months	$ 47.4
Maximum
Derivative [Line Items]
Foreign currency cash flow hedge gains estimated to be reclassified into earnings during next 12 months	0.1
Interest rate swaps
Derivative [Line Items]
Gross amount of swaps in an asset position subject to master netting arrangement	173	$ 211.2
Gross amount of swaps in an liability position subject to master netting arrangement	218.3	236.3
Net asset of swaps subject to master netting arrangement	27.2	50.8
Net liability of swaps subject to master netting arrangement	$ 72.5	$ 75.9

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Forward Foreign Exchange Contracts) (Details) - Forward exchange contracts € in Millions, £ in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions	Sep. 30, 2021GBP (£)	Sep. 30, 2021USD ($)	Sep. 30, 2021HUF (Ft)	Sep. 30, 2021EUR (€)	Sep. 30, 2021CAD ($)	Sep. 30, 2021CZK (Kč)
British Pounds Sterling
Derivative [Line Items]
US Dollar Amount	£ 4.7	$ 6.5
Weighted average exchange rate per $1 USD	0.72	0.72	0.72	0.72	0.72	0.72
Hungary, Forint
Derivative [Line Items]
US Dollar Amount		$ 35.6	Ft 10,669
Weighted average exchange rate per $1 USD	299.86	299.86	299.86	299.86	299.86	299.86
Euro Member Countries, Euro
Derivative [Line Items]
US Dollar Amount		$ 13.9		€ 10.9
Weighted average exchange rate per $1 USD	0.79	0.79	0.79	0.79	0.79	0.79
Canada, Dollars
Derivative [Line Items]
US Dollar Amount		$ 2.3			$ 2.5
Weighted average exchange rate per $1 USD	1.13	1.13	1.13	1.13	1.13	1.13
Czech Republic, Koruna
Derivative [Line Items]
US Dollar Amount		$ 4.4				Kč 99.9
Weighted average exchange rate per $1 USD	22.57	22.57	22.57	22.57	22.57	22.57

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Interest Rate Swaps) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Derivative [Line Items]
Unrealized losses in AOCI at time of de-designation	$ (2,794.6)	$ (2,750.4)	$ (2,739.4)	$ (2,714.3)	$ (2,709.5)	$ (2,660)
Interest rate swaps
Derivative [Line Items]
Notional amount, de-designated	1,400
Interest rate swaps | Accumulated Gain (Loss), Net, Cash Flow Hedge Discontinued, Including Noncontrolling Interest
Derivative [Line Items]
Unrealized losses in AOCI at time of de-designation	163
Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		1,700
Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		1,400
Notional amount entered into during period	$ 1,400
Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018 | Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 300
Fixed Rate Paid or Received		2.915%
Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 700
Fixed Rate Paid or Received		2.915%
Interest Rate Swap, Fixed Rate Paid 1.923%, Effective Date May 19, 2020 | Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 700
Fixed Rate Paid or Received		1.923%
Interest Rate Swap, Fixed Rate Paid 2.531%, Effective Date May 19, 2020 | Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 350
Fixed Rate Paid or Received		2.531%
Interest Rate Swap, Fixed Rate Paid 2.343%, Effective Date June 15, 2020 | Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 150
Fixed Rate Paid or Received		2.343%
Interest Rate Swap, Fixed Rate Paid 1.840%, Effective Date August 14, 2020 | Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 200
Fixed Rate Paid or Received		1.84%
Interest Rate Swap, Fixed Rate Paid 2.723%, Effective Date June 25, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 200
Fixed Rate Paid or Received		2.723%
Interest Rate Swap, Fixed Rate Paid 2.885%, Effective Date July 31, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 300
Fixed Rate Paid or Received		2.885%
Interest Rate Swap, Fixed Rate Paid 2.744%, Effective Date December 24, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 50
Fixed Rate Paid or Received		2.744%
Interest Rate Swap, Fixed Rate Paid 2.808%, Effective Date December 24, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 100
Fixed Rate Paid or Received		2.808%
Interest Rate Swap, Fixed Rate Paid 2.728%, Effective Date December 24, 2018 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 50
Fixed Rate Paid or Received		2.728%
Interest Rate Swap, Fixed Rate Received 2.915%, Effective Date May 19, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 700
Fixed Rate Paid or Received		2.915%
Interest Rate Swap, Fixed Rate Received 2.723%, Effective Date August 14, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 200
Fixed Rate Paid or Received		2.723%
Interest Rate Swap, Fixed Rate Received 2.885%, Effective Date May 19, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 300
Fixed Rate Paid or Received		2.885%
Interest Rate Swap, Fixed Rate Received 2.744%, Effective Date May 19, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 50
Fixed Rate Paid or Received		2.744%
Interest Rate Swap, Fixed Rate Received 2.808%, Effective Date June 15, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 100
Fixed Rate Paid or Received		2.808%
Interest Rate Swap, Fixed Rate Received 2.728%, Effective Date June 15, 2020 | Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Notional amount		$ 50
Fixed Rate Paid or Received		2.728%

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities (Derivatives Effect on Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total direct operating expense on consolidated statements of operations	$ 483.2	$ 366.8	$ 969.3	$ 789.8
Total interest expense on consolidated statements of operations	44	45.7	85.7	90.2
Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss	0.3	(0.4)	0.2	(0.6)
Loss reclassified from accumulated other comprehensive loss	(0.2)	0	(0.4)	(0.1)
Gain recognized in direct operating expense	0	0	0	0.3
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss	1.9	(10.5)	(38.9)	(28.2)
Loss reclassified from accumulated other comprehensive loss	(8.1)	(9.6)	(16.4)	(17)
Loss reclassified from accumulated other comprehensive loss into interest expense	$ (8.5)	$ (8)	$ (17)	$ (11.4)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities (Derivatives by Balance Sheet Location) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 27.2	$ 50.8
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	2.1	1.5
Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	27.3	50.8
Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	2.6	2.6
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	123.1	132.7
Interest rate swaps, financing element | Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Financing element of certain hybrid instruments	93.1	98.2
Designated as Hedging Instrument | Forward exchange contracts | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	2.1	1.5
Designated as Hedging Instrument | Forward exchange contracts | Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Designated as Hedging Instrument | Forward exchange contracts | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	2.6	2.6
Designated as Hedging Instrument | Forward exchange contracts | Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0	0
Designated as Hedging Instrument | Interest rate swaps | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Designated as Hedging Instrument | Interest rate swaps | Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	52.3	72.7
Designated as Hedging Instrument | Interest rate swaps | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0	0
Designated as Hedging Instrument | Interest rate swaps | Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	7.7	5.6
Not Designated as Hedging Instrument | Interest rate swaps | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Not Designated as Hedging Instrument | Interest rate swaps | Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	(25)	(21.9)
Not Designated as Hedging Instrument | Interest rate swaps | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0	0
Not Designated as Hedging Instrument | Interest rate swaps | Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	115.4	127.1
Not Designated as Hedging Instrument | Interest rate swaps, financing element | Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Financing element of certain hybrid instruments	93.1	98.2
Not Designated as Hedging Instrument | Interest rate swaps, financing element | Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Financing element of certain hybrid instruments	$ 50.2	$ 54.3

Additional Financial Informat_3

Additional Financial Information (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020
Additional Financial Information [Abstract]
Cash and cash equivalents	$ 442.6	$ 528.7
Restricted cash included in other current assets	5.2	0
Total cash, cash equivalents and restricted cash	$ 447.8	$ 528.7	$ 463.7	$ 318.2

Additional Financial Informat_4

Additional Financial Information (Other Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021
Other current assets
Prepaid expenses and other	$ 73.7	$ 68
Cash consideration receivable for sale of Pantaya	0	123.6
Product inventory	16.3	14.3
Tax credits receivable	96.3	68.4
Other current assets	186.3	274.3
Other non-current assets
Prepaid expenses and other	23.1	25.8
Accounts receivable	42.7	49.4
Tax credits receivable	259.7	181.2
Operating lease right-of-use assets	139.8	127
Interest rate swaps	27.2	50.8
Other non-current assets	$ 492.5	$ 434.2

Additional Financial Informat_5

Additional Financial Information (Accounts Receivable Monetization) (Details) - Trade Accounts Receivable - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Individual Monetization Agreements
Transfer of Financial Assets Accounted for as Sales [Line Items]
Net cash proceeds paid or to be paid		$ 404.9	$ 341.2	$ 743.4	$ 652.9
Carrying value of receivables transferred and derecognized		407.2	341.8	747.6	655
Loss recorded related to transfers of receivables		2.3	0.6	4.2	2.1
Derecognized accounts receivable for which the Company continues to service, amount outstanding		532.4		532.4		$ 562.8
Pooled Monetization Agreements
Transfer of Financial Assets Accounted for as Sales [Line Items]
Gross cash proceeds received for receivables transferred and derecognized		52.3	33.7	91.4	86
Less amounts from collections reinvested under revolving agreement		(34.6)	(33.7)	(63.9)	(75)
Proceeds from new transfers		17.7	0	27.5	11
Collections not reinvested and remitted or to be remitted		(21.2)	(3.9)	(33.5)	(14.3)
Net cash proceeds paid or to be paid		(3.5)	(3.9)	(6)	(3.3)
Carrying value of receivables transferred and derecognized		51.7	33.5	90.7	85.5
Obligations recorded		1	0.2	0.9	0.6
Loss recorded related to transfers of receivables		0.4	$ 0	0.2	$ 0.2
Derecognized accounts receivable for which the Company continues to service, amount outstanding		92.9		92.9		$ 99
Revolving agreement, maximum amount of receivables allowed to transfer	$ 150
Accounts receivable pledged as collateral under pooled monetization agreement		$ 60.8		$ 60.8

Additional Financial Informat_6

Additional Financial Information (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 2,794.6	$ 2,660
Ending balance	2,750.4	2,714.3
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(15.1)	(18.8)
Other comprehensive loss	(1)	0.8
Reclassifications to net loss	0	0
Ending balance	(16.1)	(18)
Net unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(68.2)	(187.2)
Other comprehensive loss	(38.7)	(28.8)
Reclassifications to net loss	33.8	28.5
Ending balance	(73.1)	(187.5)
Net unrealized gain (loss) on cash flow hedges | Direct Operating Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	0.4	0.1
Net unrealized gain (loss) on cash flow hedges | Interest Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	33.4	28.4
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(83.3)	(206)
Other comprehensive loss	(39.7)	(28)
Reclassifications to net loss	33.8	28.5
Ending balance	$ (89.2)	$ (205.5)

Additional Financial Informat_7

Additional Financial Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Non-cash investing activities
Accrued equity-method investment	$ 19	$ 0
Decrease in finance lease right-of-use asset due to a reassessment event	0	(42)
Non-cash financing activities
Decrease in finance lease liability due to a reassessment event	0	(48.6)
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	38.8	10.4
Increase in right-of-use assets and lease liability due to a reassessment event(1):
Operating leases - increase in right-of-use assets	0	6
Operating leases - increase in lease liability	$ 0	$ 12.6

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - Revolving Credit Facility - USD ($) $ in Millions	Nov. 04, 2021	Sep. 30, 2021
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,500
2023 Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity		250
2026 Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,250
Subsequent Event | 2023 Revolving Credit Facility
Subsequent Event [Line Items]
Amount of revolving credit facility commitments terminated	$ 250
Subsequent Event | 2026 Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 1,250