Lions Gate Entertainment (LGF-A) 10-Q 9 Nov 23 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	2024
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		83,530,119
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		151,481,656
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, 2023	Mar. 31, 2023
ASSETS
Cash and cash equivalents	$ 223.6	$ 272.1
Accounts receivable, net	457.1	582.1
Other current assets	305.8	264.2
Total current assets	986.5	1,118.4
Investment in films and television programs and program rights, net	2,597.2	2,947.9
Property and equipment, net	88.1	89.5
Investments	65.6	64.7
Intangible assets, net	1,060.9	1,300.1
Goodwill	795.6	1,289.5
Other assets	585.5	616.1
Total assets	6,179.4	7,426.2
LIABILITIES
Accounts payable	330.7	368.1
Content related payables	188.3	184.1
Other accrued liabilities	219.7	273.4
Participations and residuals	555.2	549.3
Film related obligations	1,259.5	1,007.2
Debt - short term portion	47	41.4
Deferred revenue	221.4	147.2
Total current liabilities	2,821.8	2,570.7
Debt	1,875.2	1,978.2
Participations and residuals	362.2	329.6
Film related obligations	542.3	1,016.4
Other liabilities	296.6	317.9
Deferred revenue	67	52
Deferred tax liabilities	23	31.8
Total liabilities	5,988.1	6,296.6
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests	410.1	343.6
EQUITY (DEFICIT)
Accumulated deficit	(3,467.5)	(2,439.6)
Accumulated other comprehensive income	136.4	120.9
Total Lions Gate Entertainment Corp. shareholders' equity (deficit)	(221.1)	784.5
Noncontrolling interests	2.3	1.5
Total equity (deficit)	(218.8)	786
Total liabilities, redeemable noncontrolling interests and equity (deficit)	6,179.4	7,426.2
Class A Voting Shares
EQUITY (DEFICIT)
Common shares	673	672.3
Class B Non-Voting Shares
EQUITY (DEFICIT)
Common shares	$ 2,437	$ 2,430.9

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2023	Mar. 31, 2023
Class A Voting Shares
Common shares, no par value	$ 0	$ 0
Authorized common shares	500	500
Common shares, shares issued	83.5	83.5
Class B Non-Voting Shares
Common shares, no par value	$ 0	$ 0
Authorized common shares	500	500
Common shares, shares issued	151.4	145.9

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 1,015.5	$ 875.2	$ 1,924.1	$ 1,769.1
Expenses
Direct operating	557.1	563.5	1,038.3	1,160
Distribution and marketing	221.7	184.6	466.1	396.2
General and administration	123.6	121.3	247.1	224.9
Depreciation and amortization	44.6	45.2	89	87.6
Restructuring and other	222.1	233.2	254	241.3
Goodwill and intangible asset impairment	663.9	1,475	663.9	1,475
Total expenses	1,833	2,622.8	2,758.4	3,585
Operating loss	(817.5)	(1,747.6)	(834.3)	(1,815.9)
Interest expense	(63.8)	(57.3)	(125.8)	(103.4)
Interest and other income	2.7	1.8	4.7	3.1
Other expense	(11.5)	(5.4)	(17.2)	(10.4)
Gain on extinguishment of debt	0	3.4	21.2	2.1
Loss on investments, net	(1.6)	(3.1)	(1.7)	(1.3)
Equity interests income (loss)	1.8	(0.1)	1.5	0.8
Loss before income taxes	(889.9)	(1,808.3)	(951.6)	(1,925)
Income tax benefit (provision)	2	(5)	(7.8)	(11)
Net loss	(887.9)	(1,813.3)	(959.4)	(1,936)
Less: Net loss attributable to noncontrolling interests	1.7	2.2	2.5	5.9
Net loss attributable to Lions Gate Entertainment Corp. shareholders	$ (886.2)	$ (1,811.1)	$ (956.9)	$ (1,930.1)
Per share information attributable to Lions Gate Entertainment Corp. shareholders:
Basic net loss per common share (in usd per share)	$ (3.79)	$ (7.95)	$ (4.12)	$ (8.51)
Diluted net loss per common share (in usd per share)	$ (3.79)	$ (7.95)	$ (4.12)	$ (8.51)
Weighted average number of common shares outstanding:
Basic (in shares)	234	227.9	232.1	226.8
Diluted (in shares)	234	227.9	232.1	226.8

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (887.9)	$ (1,813.3)	$ (959.4)	$ (1,936)
Foreign currency translation adjustments, net of tax	(2.2)	(4.1)	(1.4)	(7.1)
Net unrealized gain on cash flow hedges, net of tax	0	51.2	16.9	100.1
Comprehensive loss	(890.1)	(1,766.2)	(943.9)	(1,843)
Less: Comprehensive loss attributable to noncontrolling interests	1.7	2.2	2.5	5.9
Comprehensive loss attributable to Lions Gate Entertainment Corp. shareholders	$ (888.4)	$ (1,764)	$ (941.4)	$ (1,837.1)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Equity (Deficit) - USD ($) shares in Millions, $ in Millions	Total	Lions Gate Entertainment Corp. Shareholders' Equity (Deficit)	Common Shares Class A Voting Shares	Common Shares Class B Non-Voting Shares	Accumulated Deficit	Accumulated other comprehensive income	Noncontrolling Interests
Beginning balance, shares at Mar. 31, 2022			83.3	142
Beginning balance at Mar. 31, 2022	$ 2,683.4	$ 2,681.6	$ 668.2	$ 2,353.8	$ (369.7)	$ 29.3	$ 1.8	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares				0.3
Exercise of stock options	3.5	3.5	$ 0	$ 3.5
Share-based compensation, net of share cancellations for taxes, shares			0.1	2.9
Share-based compensation, net of share cancellations for taxes	18.1	18.1	$ 2	$ 16.1
Issuance of common shares, shares			0	0
Issuance of common shares	0.3	0.3	$ 0.2	$ 0.1
Noncontrolling interests	(0.4)						(0.4)	[1]
Net loss	(1,929.9)	(1,930.1)			(1,930.1)		0.2	[1]
Other comprehensive income	93	93				93
Redeemable noncontrolling interests adjustments to redemption value	(20.6)	(20.6)			(20.6)
Ending balance, shares at Sep. 30, 2022			83.4	145.2
Ending balance at Sep. 30, 2022	847.4	845.8	$ 670.4	$ 2,373.5	(2,320.4)	122.3	1.6	[1]
Beginning balance, shares at Jun. 30, 2022			83.3	142.5
Beginning balance at Jun. 30, 2022	2,604.7	2,603.1	$ 669.4	$ 2,363.2	(504.7)	75.2	1.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation, net of share cancellations for taxes, shares			0.1	2.7
Share-based compensation, net of share cancellations for taxes	11.2	11.2	$ 0.9	$ 10.3
Issuance of common shares, shares			0	0
Issuance of common shares	0.1	0.1	$ 0.1	$ 0
Net loss	(1,811.1)	(1,811.1)			(1,811.1)		0
Other comprehensive income	47.1	47.1				47.1
Redeemable noncontrolling interests adjustments to redemption value	(4.6)	(4.6)			(4.6)
Ending balance, shares at Sep. 30, 2022			83.4	145.2
Ending balance at Sep. 30, 2022	847.4	845.8	$ 670.4	$ 2,373.5	(2,320.4)	122.3	1.6	[1]
Beginning balance, shares at Mar. 31, 2023			83.5	145.9
Beginning balance at Mar. 31, 2023	786	784.5	$ 672.3	$ 2,430.9	(2,439.6)	120.9	1.5	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares				0
Exercise of stock options	0.3	0.3		$ 0.3
Share-based compensation, net of share cancellations for taxes, shares			0	5.5
Share-based compensation, net of share cancellations for taxes	5.9	5.9	$ 0.4	$ 5.5
Issuance of common shares, shares			0	0
Issuance of common shares	0.6	0.6	$ 0.3	$ 0.3
Net loss	(956.1)	(956.9)			(956.9)		0.8	[1]
Other comprehensive income	15.5	15.5				15.5
Redeemable noncontrolling interests adjustments to redemption value	(71)	(71)			(71)
Ending balance, shares at Sep. 30, 2023			83.5	151.4
Ending balance at Sep. 30, 2023	(218.8)	(221.1)	$ 673	$ 2,437	(3,467.5)	136.4	2.3	[1]
Beginning balance, shares at Jun. 30, 2023			83.5	148
Beginning balance at Jun. 30, 2023	728.2	726.4	$ 672.9	$ 2,431.2	(2,516.3)	138.6	1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, shares				0
Exercise of stock options	0.3	0.3		$ 0.3
Share-based compensation, net of share cancellations for taxes, shares			0	3.4
Share-based compensation, net of share cancellations for taxes	5.6	5.6	$ 0.1	$ 5.5
Net loss	(885.7)	(886.2)			(886.2)		0.5
Other comprehensive income	(2.2)	(2.2)				(2.2)
Redeemable noncontrolling interests adjustments to redemption value	(65)	(65)			(65)
Ending balance, shares at Sep. 30, 2023			83.5	151.4
Ending balance at Sep. 30, 2023	$ (218.8)	$ (221.1)	$ 673	$ 2,437	$ (3,467.5)	$ 136.4	$ 2.3	[1]
[1]Excludes redeemable noncontrolling interests, which are reflected in temporary equity (see Note 9).

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities:
Net loss	$ (959.4)	$ (1,936)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	89	87.6
Amortization of films and television programs and program rights	767.5	899.3
Amortization of debt financing costs and other non-cash interest	14.6	13.9
Non-cash share-based compensation	43.5	35
Other amortization	23.8	41.2
Goodwill and intangible asset impairment	663.9	1,475
Content and other impairments	239.5	218.9
Gain on extinguishment of debt	(21.2)	(2.1)
Equity interests income	(1.5)	(0.8)
Loss on investments, net	1.7	1.3
Deferred income taxes	(8.8)	(0.3)
Changes in operating assets and liabilities:
Proceeds from the termination of interest rate swaps	0	188.7
Accounts receivable, net	132.2	9.8
Investment in films and television programs and program rights, net	(666.5)	(1,087.2)
Other assets	(18.6)	(49.3)
Accounts payable and accrued liabilities	(92.1)	(10)
Participations and residuals	36.9	(5)
Content related payables	(3.5)	12.1
Deferred revenue	89.3	(31.5)
Net Cash Flows Provided By (Used In) Operating Activities	330.3	(139.4)
Investing Activities:
Proceeds from the sale of other investments	0.2	3
Investment in equity method investees and other	(11.3)	(17.5)
Increase in loans receivable	(2.1)	0
Capital expenditures	(18.3)	(21.5)
Net Cash Flows Used In Investing Activities	(31.5)	(36)
Financing Activities:
Debt - borrowings, net of debt issuance and redemption costs	1,084.5	991
Debt - repurchases and repayments	(1,165.5)	(1,211)
Film related obligations - borrowings	943.6	1,137.9
Film related obligations - repayments	(1,172.9)	(372.2)
Settlement of financing component of interest rate swaps	0	(134.5)
Purchase of noncontrolling interest	(0.6)	0
Distributions to noncontrolling interest	(0.6)	(2.5)
Exercise of stock options	0.3	3.4
Tax withholding required on equity awards	(30.7)	(16.2)
Net Cash Flows Provided By (Used In) Financing Activities	(341.9)	395.9
Net Change In Cash, Cash Equivalents and Restricted Cash	(43.1)	220.5
Foreign Exchange Effects on Cash, Cash Equivalents and Restricted Cash	(0.7)	(5.7)
Cash, Cash Equivalents and Restricted Cash - Beginning Of Period	313	384.6
Cash, Cash Equivalents and Restricted Cash - End Of Period	$ 269.2	$ 599.4

General

General	6 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Nature of Operations Lions Gate Entertainment Corp. (the “Company,” “Lionsgate,” "Lions Gate," “we,” “us” or “our”) encompasses world-class motion picture and television studio operations aligned with the STARZ premium global subscription platform to bring a unique and varied portfolio of entertainment to consumers around the world. The Company’s film, television, subscription and location-based entertainment businesses are backed by an 18,000-title library and a valuable collection of iconic film and television franchises. 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, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2024. The balance sheet at March 31, 2023 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, 2023, as amended. 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 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; estimates of future viewership used for the amortization of licensed program rights; 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.

Acquisitions

Acquisitions	6 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	AcquisitionsOn August 3, 2023, the Company and its subsidiaries, Lions Gate Entertainment Inc., a Delaware corporation (“LGEI”), and Lions Gate International Motion Pictures S.à.r.l., a Luxembourg société à responsabilité limitée (“LGIMP” and, with the Company and LGEI, collectively the “Buyers”), entered into an Equity Purchase Agreement (the “Purchase Agreement”) with Hasbro, Inc., a Rhode Island corporation (“Hasbro”), pursuant to which (following a contemplated pre-closing reorganization), the Buyers will acquire from Hasbro, upon the closing of the transactions contemplated under the Purchase Agreement (the “Purchase”), all of the issued and outstanding equity interests of the companies constituting the Entertainment One television and film (“eOne”) business for an aggregate cash purchase price of $375.0 million, subject to certain purchase price adjustments, including for cash, debt, transaction expenses and working capital, and the assumption by the Buyers of certain production financing indebtedness.The Purchase Agreement contains customary representations and warranties by each party with respect to itself, as well as various customary covenants and indemnification provisions and other agreements, including, among others, to run the business in the ordinary course during the period between the execution of the Purchase Agreement and closing of the Purchase (the “Closing”). The Closing is contingent on the delivery by Hasbro to the Company of certain financial statements with respect to the eOne business and other customary closing conditions. The Purchase Agreement contains customary termination rights permitting each party to terminate the Purchase Agreement under certain specified circumstances, including if the Closing has not occurred on or before January 31, 2024.

Investment In Films and Televis

Investment In Films and Television Programs and Licensed Program Rights	6 Months Ended
	Sep. 30, 2023
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 $ 622.3 $ 611.7 Completed and not released 413.0 278.7 In progress 254.6 457.0 In development 63.3 64.1 1,353.2 1,411.5 Film Group Monetization Released, net of accumulated amortization 531.6 657.8 Completed and not released 302.3 281.7 In progress 179.5 303.0 In development 8.7 8.2 1,022.1 1,250.7 Licensed program rights, net of accumulated amortization 221.9 285.7 Investment in films and television programs and licensed program rights, net $ 2,597.2 $ 2,947.9 At September 30, 2023, acquired film and television libraries have remaining unamortized costs of $125.5 million, which are monetized individually and are being amortized using the individual-film-forecast method over a remaining period of approximately 17.7 years (March 31, 2023 - unamortized costs of $132.8 million). Amortization of investment in film and television programs and licensed program rights by predominant monetization strategy is as follows, 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, 2023 2022 2023 2022 (Amounts in millions) Amortization expense: Individual monetization $ 223.3 $ 235.4 $ 404.4 $ 503.2 Film group monetization 98.7 92.4 209.9 144.9 Licensed program rights 85.6 99.6 153.2 251.2 $ 407.6 $ 427.4 $ 767.5 $ 899.3 Impairments. Investment in films and television programs and licensed program rights includes write-downs to fair value. The following table sets forth impairments by segment and the line item in our unaudited condensed consolidated statement of operations they are recorded in for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Impairments by segment: Included in direct operating expense: Motion Picture $ 26.8 $ — $ 27.0 $ 0.5 Television Production 5.4 3.5 5.4 4.7 Impairments not included in segment operating results (1) : Included in restructuring and other 211.6 213.0 239.5 213.0 $ 243.8 $ 216.5 $ 271.9 $ 218.2 ________________ (1) Represents charges related to the Media Networks restructuring plan initiatives, including content impairment of programming removed from its platforms and in certain international territories exited or to be exited. See Note 14 for further information.

Investments

Investments	6 Months Ended
	Sep. 30, 2023
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 $ 65.6 $ 63.1 Other investments — 1.6 $ 65.6 $ 64.7 Equity Method Investments: The Company has investments in various equity method investees with ownership percentages ranging from approximately 6% to 49%. These investments include: 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. 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 an operating company that operates Lionsgate Studios Yonkers, a studio facility in Yonkers, New York. 42. 42 is a fully integrated management and production company, producing film, television and content, representing actors, writers, directors, comedians, presenters, producers, casting directors and media book rights; with offices in London and Los Angeles. 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 $ 211.2 $ 189.0 Non-current assets $ 152.7 $ 203.0 Current liabilities $ 251.7 $ 215.5 Non-current liabilities $ 61.6 $ 65.0 Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Revenues $ 78.3 $ 37.5 $ 124.1 $ 78.1 Gross profit $ 27.0 $ 6.0 $ 33.6 $ 21.0 Net loss $ (2.8) $ (10.2) $ (8.7) $ (12.6)

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Changes in the carrying value of goodwill by reporting segment were as follows: Motion Television Media Networks Total (Amounts in millions) Balance as of March 31, 2023 (1) $ 393.7 $ 401.9 $ 493.9 $ 1,289.5 Impairment — — (493.9) (493.9) Balance as of September 30, 2023 (1) $ 393.7 $ 401.9 $ — $ 795.6 ________________ (1) As of March 31, 2023 and September 30, 2023, accumulated goodwill impairment losses totaled $1.475 billion and $1.969 billion, respectively, related to the Media Networks reporting unit, as further described below. Fiscal 2024. During the quarter ended September 30, 2023, due to the continuing difficult macro and microeconomic conditions, industry trends, and their impact on the performance and projected cash flows of the Media Networks segment, including its growth in subscribers and revenue worldwide, and the expanded restructuring activities discussed in Note 14, along with recent market valuation multiples, the Company updated its quantitative impairment assessment for its Media Networks reporting unit goodwill based on the most recent data and expected growth trends. In performing its quantitative impairment assessment, the fair value of the Company's reporting units was estimated by using a combination of discounted cash flow ("DCF") analyses and market-based valuation methodologies. The Media Networks reporting unit goodwill was established in connection with the acquisition of Starz as of December 8, 2016. Based on its quantitative impairment assessment, the Company determined that the fair value of our Media Networks reporting unit which was previously disclosed as a reporting unit "at risk" of impairment, was less than its carrying value (after the impairment write-down of its indefinite-lived intangible assets discussed below). The analysis resulted in a goodwill impairment charge of $493.9 million, representing all of the remaining Media Networks reporting unit goodwill, which is recorded in the "goodwill and intangible asset impairment" line item in the unaudited condensed consolidated statement of operations. During the quarter ended September 30, 2023, we performed a qualitative goodwill impairment assessment for all our other reporting units (Motion Picture, and our Television and Talent Management businesses, both of which are part of our Television Production segment). Our qualitative assessment considered the market price of the Company’s common shares, the recent performance of these reporting units, and updated forecasts of performance and cash flows, as well as the current micro and macroeconomic environments in relation to the current and expected performance of these reporting units, and industry considerations, and determined that since the quantitative assessment performed in the quarter ended September 30, 2022 and our qualitative assessment performed for fiscal 2023, there were no events or circumstances that rise to a level that would more-likely-than-not reduce the fair value of those reporting units below their carrying values; therefore, a quantitative goodwill impairment analysis was not required for these reporting units. Fiscal 2023. In fiscal 2023, during the second quarter ended September 30, 2022, due to adverse macro and microeconomic conditions, including the competitive environment, continued inflationary trends and recessionary economies worldwide and its impact on the Company's growth in subscribers worldwide, the Company began implementing a plan to restructure its LIONSGATE+ business, and the Company revised its subscriber growth and forecasted cash flow assumptions and implemented certain cost-saving measures. Accordingly, for the second quarter ended September 30, 2022, the Company updated its quantitative impairment assessment for all of its reporting units, using a combination of DCF analyses and market-based valuation methodologies to estimate the fair value of the Company's reporting units, and determined that the fair value of its reporting units exceeded the carrying values for all of its reporting units, except the Media Networks reporting unit which had been previously disclosed as a reporting unit "at risk" of impairment. The analysis resulted in a goodwill impairment charge of $1.475 billion in the three months ended September 30, 2022, related to the Company's Media Networks reporting unit goodwill, which is recorded in the "goodwill and intangible asset impairment" line item in the unaudited condensed consolidated statement of operations. Since the impairment charge reduced the carrying value of the Media Networks reporting unit to its fair value, at September 30, 2022 the fair value and carrying value of the Media Networks reporting unit were equal and thus it continued to be considered "at risk" of impairment. Indefinite-Lived Intangible Assets Our indefinite-lived intangible assets have consisted of trade names representing the estimated fair value of the Starz brand name determined in connection with the acquisition of Starz as of December 8, 2016, amounting to $250.0 million related to the Media Networks reporting unit. During the three months ended September 30, 2023, due to the events and their impact discussed above related to our Media Networks reporting unit, we performed a quantitative impairment assessment of our indefinite-lived trade names. The fair value of the Company's indefinite-lived trade names was estimated based on the present value of the hypothetical cost savings that could be realized by the owner of the trade names as a result of not having to pay a stream of royalty payments to another party. These cost savings were calculated based on a DCF analysis of the hypothetical royalty payment that a licensee would be required to pay in exchange for use of the trade names, reduced by the tax effect realized by the licensee on the royalty payments. Based on the quantitative impairment assessment of our trade names, we recorded an impairment charge of $170.0 million related to the Company's Starz business, which is recorded in the "goodwill and intangible asset impairment" line item in the unaudited condensed consolidated statement of operations. After the Company performed its quantitative impairment assessment, the Company then reassessed the estimated useful life of the trade names with a remaining carrying value of $80.0 million, net of the impairment charge discussed above. The Company concluded that based upon the most recent factors, including current macro and microeconomic conditions, market competition and historical Company and industry trends, the trade names now have a finite estimated remaining useful life of 10 years. Accordingly, beginning in the third quarter ending December 31, 2023, the trade names will be accounted for as finite-lived intangible assets and amortized over their estimated remaining useful life. This is expected to result in an increase in amortization expense of approximately $4.0 million for the year ending March 31, 2024. Finite-Lived Intangible Assets Our finite-lived intangible assets primarily relate to customer relationships representing Starz affiliation agreements with distributors, related to the Media Networks reporting unit. The Company monitors its finite-lived intangible assets and changes in the underlying circumstances each reporting period for indicators of possible impairments or a change in the useful life or method of amortization of our finite-lived intangible assets. During the quarter ended September 30, 2023, for the Company's finite-lived customer relationship intangible assets related to our Media Networks reporting unit, which represent $956.8 million as of September 30, 2023, the Company performed a comparison of undiscounted future cash flows expected to be generated over the remaining useful life of an asset to the carrying value of the asset. Based on our impairment analysis, the estimated undiscounted cash flows exceeded the carrying amount of the assets and therefore no impairment charge was required.

Debt

Debt	6 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Total debt of the Company, excluding film related obligations, was as follows: September 30, March 31, (Amounts in millions) Corporate debt: Revolving Credit Facility $ — $ — Term Loan A 414.9 428.2 Term Loan B 825.4 831.7 5.500% Senior Notes 715.0 800.0 Total corporate debt 1,955.3 2,059.9 Unamortized debt issuance costs (33.1) (40.3) Total debt, net 1,922.2 2,019.6 Less current portion (47.0) (41.4) Non-current portion of debt $ 1,875.2 $ 1,978.2 Senior Credit Facilities (Revolving Credit Facility, Term Loan A and Term Loan B) Revolving Credit Facility Availability of Funds & Commitment Fee. The Revolving Credit Facility provides for borrowings and letters of credit up to an aggregate of $1.25 billion, and at September 30, 2023 there was $1.25 billion available. However, borrowing levels are subject to certain financial covenants as discussed below. There were no letters of credit outstanding at September 30, 2023. 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 and guarantee agreement dated December 8, 2016, as amended (the "Credit Agreement"), on the total Revolving Credit Facility of $1.25 billion less the amount drawn. Maturity Date: • Revolving Credit Facility & Term Loan A: April 6, 2026. The outstanding amounts may become due on December 23, 2024 (i.e., 91 days prior to March 24, 2025) prior to its maturity on April 6, 2026 in the event that the aggregate principal amount of outstanding Term Loan B in excess of $250 million has not been repaid, refinanced or extended to have a maturity date on or after July 6, 2026. The Company expects to refinance and extend the maturity date of the Term Loan B prior to December 23, 2024 such that the maturity of the revolving credit facility and Term Loan A are not accelerated. • Term Loan B: March 24, 2025. Interest: In June 2023, the Company amended its Credit Agreement to replace the benchmark interest rate, U.S. dollar LIBOR, with the Secured Overnight Financing Rate (“SOFR”), due to the discontinuance of LIBOR, as further described below. • Revolving Credit Facility & Term Loan A: As amended on June 14, 2023, the Revolving Credit Facility and term loan A facility due April 2026 (the "Term Loan A") bear interest at a rate per annum equal to SOFR plus 0.10% plus 1.75% margin (or an alternative base rate plus 0.75%), with a SOFR floor of zero (prior to the amendment, bore interest at LIBOR plus 1.75% 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 7.18% as of September 30, 2023, before the impact of interest rate swaps, see Note 17 for interest rate swaps). • Term Loan B: As amended on June 14, 2023, the term loan B facility due March 2025 (the "Term Loan B") bears interest at a rate per annum equal to SOFR plus 0.10% plus 2.25% margin, with a SOFR floor of zero (or an alternative base rate plus 1.25% margin) (prior to the amendment, bore interest at LIBOR plus 2.25% margin with a LIBOR floor of zero) (effective interest rate of 7.68% as of September 30, 2023, before the impact of interest rate swaps). Required Principal Payments: • Term Loan A: Quarterly principal payments, at quarterly rates of 1.25% beginning September 30, 2022, 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 & Term Loan B: The Company may voluntarily prepay the Revolving Credit Facility, Term Loan A and Term Loan B at any time without premium or penalty Security. The Senior Credit Facilities are guaranteed by the guarantors named 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, 2023, 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. 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, 2023, 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, 2023, 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 $959.4 million and accumulated deficit of $3,467.5 million were deemed free of restrictions from paying dividends at September 30, 2023. Debt Transactions: Senior Notes Repurchases. In the six months ended September 30, 2023, the Company repurchased $85.0 million principal amount of the 5.500% Senior Notes for $61.4 million, together with accrued and unpaid interest (none in the three months ended September 30, 2023). In the three and six months ended September 30, 2022, the Company repurchased $18.7 million principal amount of the 5.500% Senior Notes for $14.6 million, together with accrued and unpaid interest. Term Loan A Prepayment. In April 2022, the Company voluntarily prepaid the entire outstanding principal amount of the Term Loan A due March 22, 2023 of $193.6 million, together with accrued and unpaid interest. Gain (Loss) on Extinguishment of Debt: During the three and six months ended September 30, 2023 and 2022, the Company recorded a gain (loss) on extinguishment of debt related to the transactions described above as summarized in the table below: Three Months Ended Six Months Ended 2023 2022 2023 2022 (Amounts in millions) Gain (Loss) on Extinguishment of Debt: Senior Notes repurchases $ — $ 3.4 $ 21.2 $ 3.4 Term Loan A prepayment — — — (1.3) $ — $ 3.4 $ 21.2 $ 2.1

Film Related Obligations

Film Related Obligations	6 Months Ended
	Sep. 30, 2023
Film Related Obligations [Abstract]
Film Related Obligations	Film Related Obligations September 30, March 31, (Amounts in millions) Film related obligations: Production Loans $ 1,198.9 $ 1,349.9 Production Tax Credit Facility 234.3 231.8 Programming Notes 67.9 83.6 Backlog Facility and Other 186.6 226.0 IP Credit Facility 124.8 143.8 Total film related obligations 1,812.5 2,035.1 Unamortized debt issuance costs (10.7) (11.5) Total film related obligations, net 1,801.8 2,023.6 Less current portion (1,259.5) (1,007.2) Total non-current film related obligations $ 542.3 $ 1,016.4 Production Loans . Production loans represent individual and multi-title loans for the production of film and television programs that the Company produces. The majority of the Company's production loans have contractual repayment dates either at or near the expected completion or release dates, with the exception of certain loans containing repayment dates on a longer term basis, and incur primarily SOFR-based interest at a weighted average rate of 7.10% (before the impact of interest rate swaps, see Note 17 for interest rate swaps). Production loans amounting to $1,070.8 million are secured by collateral which consists of the underlying rights related to the intellectual property (i.e. film or television show), and $128.1 million are unsecured. Production Tax Credit Facility. In January 2021, as amended in March 2022, the Company entered into a non-recourse senior secured revolving credit facility (the "Production Tax Credit Facility") based on and secured by collateral consisting solely of certain of the Company’s tax credit receivables. The maximum principal amount of the Production Tax Credit Facility is $235.0 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. Cash collections from the underlying collateral (tax credit receivables) are used to repay the Production Tax Credit Facility. Advances under the Production Tax Credit Facility bear interest at a rate equal to SOFR plus 0.10% to 0.25% depending on the SOFR term (i.e., one, three or six months), plus 1.50% per annum or the base rate plus 0.50% per annum (effective interest rate of 6.93% at September 30, 2023). The Production Tax Credit Facility matures on January 27, 2025. As of September 30, 2023, there was $0.7 million available under the Production Tax Credit Facility. Programming Notes . Programming notes represent individual unsecured loans for the licensing of film and television programs that the Company licenses. The Company's programming notes have contractual repayment dates in October 2023 and November 2023, and incur SOFR-based interest at a weighted average rate of 8.05%. IP Credit Facility. In July 2021, as amended in September 2022, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "IP Credit Facility") based on and secured by the collateral consisting solely of certain of the Company’s rights in certain library titles. The maximum principal amount of the IP Credit Facility is $161.9 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 From Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2023 $30.4 November 14, 2023 September 30, 2024 $60.7 November 14, 2024 September 30, 2025 $91.1 November 14, 2025 September 30, 2026 $121.4 November 14, 2026 July 30, 2027 $161.9 July 30, 2027 Advances under the IP Credit Facility bear interest at a rate equal to, at the Company’s option, SOFR plus 0.11% to 0.26% depending on the SOFR term (i.e., one or three months) plus 2.25% per annum (with a SOFR floor of 0.25%) or the base rate plus 1.25% per annum (effective interest rate of 7.81% at September 30, 2023). The IP Credit Facility matures on July 30, 2027. Backlog Facility and Other: Backlog Facility. In March 2022, as amended in August 2022, certain subsidiaries of the Company entered into a committed secured revolving credit facility (the "Backlog Facility") based on and secured by collateral consisting solely of certain of the Company's fixed fee or minimum guarantee contracts where cash will be received in the future. The maximum principal amount of the Backlog Facility is $175.0 million, subject to the amount of eligible collateral contributed to the facility. Advances under the Backlog Facility bear interest at a rate equal to Term SOFR plus 0.10% to 0.25% depending on the SOFR term (i.e., one, three or six months), plus an applicable margin amounting to 1.15% per annum. The applicable margin is subject to a potential increase to either 1.25% or 1.50% based on the weighted average credit quality rating of the collateral contributed to the facility (effective interest rate of 6.58% at September 30, 2023). The Backlog Facility revolving period ends on May 16, 2025, at which point cash collections from the underlying collateral is used to repay the facility. The facility maturity date is up to 2 years, 90 days after the revolving period ends, currently August 14, 2027. As of September 30, 2023, there was $175.0 million outstanding under the Backlog Facility, and there were no amounts available under the Backlog Facility (March 31, 2023 - $175.0 million outstanding). Other. The Company has other loans as described below, which are secured by contracted receivables which are not yet recognized as revenue under certain licensing agreements. Outstanding loan balances under these "other" loans must be repaid with any cash collections from the underlying collateral if and when received by the Company, and may be voluntarily repaid at any time without prepayment penalty fees. As of September 30, 2023, an aggregate of $11.6 million remains outstanding under the loans as discussed in the following paragraphs. In June 2022, the Company borrowed $118.6 million under a loan agreement (the "June 2022 Distribution Loan"), which was fully repaid in the second and third quarter of fiscal 2023. In September 2022, the Company borrowed $43.4 million under a loan agreement which was to mature on March 28, 2026 (the "September 2022 Distribution Loan") and bore interest at a rate equal to Term SOFR plus 0.11%, plus an applicable margin amounting to 1.50% per annum. The remaining balance of the September 2022 Distribution Loan was fully repaid during the quarter ended September 30, 2023.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2023
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, 2023 and March 31, 2023: September 30, 2023 March 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Forward exchange contracts (see Note 17) $ — $ 0.1 $ 0.1 $ — $ 2.9 $ 2.9 Interest rate swaps (see Note 17) — 57.4 57.4 — 41.1 41.1 Liabilities: Forward exchange contracts (see Note 17) — (0.5) (0.5) — (0.1) (0.1) The following table sets forth the carrying values and fair values of the Company’s outstanding debt and film related obligations at September 30, 2023 and March 31, 2023: September 30, 2023 March 31, 2023 (Amounts in millions) Carrying Value Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Term Loan A $ 411.5 $ 412.8 $ 424.2 $ 415.4 Term Loan B 822.0 824.4 827.2 817.1 5.500% Senior Notes 695.1 475.5 776.0 510.0 Production Loans 1,193.8 1,198.9 1,346.1 1,349.9 Production Tax Credit Facility 232.7 234.3 229.4 231.8 Programming Notes 67.9 67.9 83.6 83.6 Backlog Facility and Other 185.2 186.6 223.7 226.0 IP Credit Facility 122.2 124.8 140.8 143.8 ________________ (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 SOFR-based yield curves, swap rates, and credit ratings (Level 2 measurements). The Company’s financial instruments also include cash and cash equivalents, accounts receivable, accounts payable, content related payables, other 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, 2023 and March 31, 2023.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Sep. 30, 2023
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, 2023 2022 (Amounts in millions) Beginning balance $ 343.6 $ 321.2 Net loss attributable to redeemable noncontrolling interests (3.3) (6.1) Noncontrolling interests discount accretion — 10.0 Adjustments to redemption value 71.0 20.6 Cash distributions (0.6) (2.5) Purchase of noncontrolling interest (0.6) — Ending balance $ 410.1 $ 343.2 Redeemable noncontrolling interests (included in temporary equity on the unaudited condensed consolidated balance sheets) primarily 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 Company has a redeemable noncontrolling interest representing 49% of 3 Arts Entertainment. Pursuant to an amendment dated September 14, 2023, the put rights associated with the 3 Arts Entertainment noncontrolling interest were extended, such that the noncontrolling interest holders have a right to put the noncontrolling interest of 3 Arts Entertainment, at fair value, exercisable beginning November 15, 2023, 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. The put and call options have been determined to be embedded in the noncontrolling interest, and because the put rights are outside the control of the Company, the noncontrolling interest holder's interest is presented as redeemable noncontrolling interest outside of shareholders' equity on the Company's consolidated balance sheets. In addition, the noncontrolling interest holders have continued as employees of 3 Arts Entertainment. Pursuant to the various 3 Arts Entertainment acquisition and related agreements, a portion of the noncontrolling interest holders' participation in the put and call proceeds is based on the noncontrolling interest holders' performance during the period. Further, if the employment of a noncontrolling interest holder is terminated, under certain circumstances, their participation in distributions cease and the put and call value is discounted from the fair value of their equity ownership percentage. Accordingly, earned distributions are accounted for as compensation and are being expensed within general and administrative expense as incurred. Additionally, the amount of the put and call proceeds subject to the discount was also accounted for as compensation, and was amortized over the vesting period within general and administrative expense and reflected as an addition to redeemable noncontrolling interest over the vesting period which ended in November 2022. A portion of the purchase price of the controlling interest in 3 Arts Entertainment, up to $38.3 million, was recoupable for a five-year period commencing on the acquisition date of May 29, 2018, contingent upon the continued employment of certain employees, or the achievement of certain EBITDA targets, as defined in the 3 Arts Entertainment acquisition and related agreements. Accordingly, $38.3 million was initially recorded as a deferred compensation arrangement within other current and non-current assets and was amortized in general and administrative expenses over the five-year period. Pilgrim Media Group. The Company has a remaining redeemable noncontrolling interest representing 12.5% of Pilgrim Media Group. The noncontrolling interest holder has a right to put and the Company has a right to call the noncontrolling interest at fair value, subject to a cap, exercisable for thirty (30) days beginning November 12, 2024, as amended. The put and call options have been determined to be embedded in the noncontrolling interest, and because the put rights are outside the control of the Company and require partial cash settlement, the noncontrolling interest holder's interest is presented as redeemable noncontrolling interest outside of shareholders' equity on the Company's consolidated balance sheets. 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. The Company has other immaterial redeemable noncontrolling interests. Other Noncontrolling Interests

Revenue

Revenue	6 Months Ended
	Sep. 30, 2023
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 marketplaces. The Company's Media Networks segment generates revenue primarily from the distribution of the Company's STARZ 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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 28.2 $ 6.0 $ 94.1 $ 16.9 Home Entertainment Digital Media 165.7 101.9 339.8 231.1 Packaged Media 16.1 13.9 42.0 36.0 Total Home Entertainment 181.8 115.8 381.8 267.1 Television 100.8 51.7 149.3 100.0 International 79.7 45.5 160.7 111.2 Other 5.4 5.0 16.6 7.6 Total Motion Picture revenues 395.9 224.0 802.5 502.8 Television Production Television 221.8 294.2 371.9 595.6 International 73.6 74.4 105.6 153.7 Home Entertainment Digital Media 84.2 42.6 96.0 73.9 Packaged Media 0.3 0.5 0.7 1.4 Total Home Entertainment 84.5 43.1 96.7 75.3 Other 14.0 19.2 38.2 38.6 Total Television Production revenues 393.9 430.9 612.4 863.2 Media Networks - Programming Revenues Domestic 339.8 357.5 677.2 707.1 International 76.7 38.6 120.4 70.2 416.5 396.1 797.6 777.3 Intersegment eliminations (190.8) (175.8) (288.4) (374.2) Total revenues $ 1,015.5 $ 875.2 $ 1,924.1 $ 1,769.1 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, 2023 are as follows: Rest of Year Ending March 31, 2024 Year Ending March 31, 2025 2026 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 699.2 $ 588.5 $ 363.6 $ 108.3 $ 1,759.6 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 $65.1 million and $172.0 million, respectively, including variable and fixed fee arrangements, were recognized during the three and six months ended September 30, 2023 from performance obligations satisfied prior to March 31, 2023. 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. See the unaudited condensed consolidated balance sheets or Note 18 for accounts receivable, contract assets and deferred revenue balances at September 30, 2023 and March 31, 2023. 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 collectability, 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 collectability. 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, 2023 (Benefit) provision for doubtful accounts Uncollectible accounts written-off (1) September 30, 2023 (Amounts in millions) Provision for doubtful accounts $ 9.2 $ 0.1 $ (3.4) $ 5.9 _______________________ (1) Represents primarily accounts receivable previously reserved for bad debt from customers in Russia, related to Russia's invasion of Ukraine. 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. See Note 18 for contract assets at September 30, 2023 and March 31, 2023. 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 $23.5 million and $109.8 million, respectively, were recognized during the three and six months ended September 30, 2023 related to the balance of deferred revenue at March 31, 2023.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated based on the weighted average common shares outstanding for the period. Basic and diluted net loss per share for the three and six months ended September 30, 2023 and 2022 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions, except per share amounts) Basic and Diluted Net Loss Per Common Share: Numerator: Net loss attributable to Lions Gate Entertainment Corp. shareholders $ (886.2) $ (1,811.1) $ (956.9) $ (1,930.1) Denominator: Weighted average common shares outstanding 234.0 227.9 232.1 226.8 Basic and diluted net loss per common share $ (3.79) $ (7.95) $ (4.12) $ (8.51) As a result of the net loss in the three and six months ended September 30, 2023 and 2022, the dilutive effect of the share purchase options, RSUs 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 three and six months ended September 30, 2023 totaled 1.0 million and 3.3 million, respectively (three and six months ended September 30, 2022 - 2.4 million and 3.1 million, respectively). Additionally, for the three and six months ended September 30, 2023 and 2022, the outstanding common shares issuable presented below were excluded from diluted net 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, 2023 2022 2023 2022 (Amounts in millions) Anti-dilutive shares issuable Share purchase options 20.4 23.7 18.7 21.7 Restricted share units 6.6 1.8 3.4 1.0 Other issuable shares 4.1 2.6 4.0 2.7 Total weighted average anti-dilutive shares issuable excluded from diluted net loss per common share 31.1 28.1 26.1 25.4

Capital Stock

Capital Stock	6 Months Ended
	Sep. 30, 2023
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, 2023 and March 31, 2023. The table below outlines common shares reserved for future issuance: September 30, March 31, (Amounts in millions) Stock options and share appreciation rights (SARs) outstanding 20.8 24.8 Restricted share units and restricted stock — unvested 13.6 14.0 Common shares available for future issuance 8.2 11.4 Shares reserved for future issuance 42.6 50.2 (b) Share-based Compensation The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Compensation Expense: Stock options $ 0.5 $ 2.3 $ 1.4 $ 4.0 Restricted share units and other share-based compensation 25.0 23.2 39.3 28.9 Share appreciation rights 0.5 1.1 1.2 1.5 26.0 26.6 41.9 34.4 Impact of accelerated vesting on equity awards (1) 1.1 — 1.6 0.6 Total share-based compensation expense $ 27.1 $ 26.6 $ 43.5 $ 35.0 ___________________ (1) Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Share-Based Compensation Expense: Direct operating $ 0.9 $ 0.6 $ 1.4 $ 0.8 Distribution and marketing 0.3 0.2 0.4 0.4 General and administration 24.8 25.8 40.1 33.2 Restructuring and other 1.1 — 1.6 0.6 $ 27.1 $ 26.6 $ 43.5 $ 35.0 The following table sets forth the stock option, SARs, restricted stock and restricted share unit activity during the six months ended September 30, 2023: 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, 2023 4.3 $26.35 20.5 $15.23 — (1) $10.95 14.0 $9.48 Granted — — — — — — 9.2 $8.19 Options exercised or restricted stock or RSUs vested — $7.70 (1) (0.1) $7.15 — (1) 10.89 (9.1) $9.33 Forfeited or expired (1.8) $30.79 (2.1) $29.19 — — (0.5) $8.77 Outstanding at September 30, 2023 2.5 $22.99 18.3 $13.82 — (1) $11.01 13.6 $8.73 __________________ (1) Represents less than 0.1 million shares. (c) Share Repurchases

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax benefit (provision) for the three and six months ended September 30, 2023 and 2022 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, and the tax deductions generated by the Company's capital structure. The Company's income tax benefit (provision) for the three and six months ended September 30, 2023 and 2022 was impacted by changes in the valuation allowances against certain U.S. and foreign deferred tax assets, certain minimum taxes and foreign withholding taxes. The Company's income tax benefit (provision) for the three and six months ended September 30, 2023 and 2022 was also impacted by charges for interest on uncertain tax benefits, and benefited from the release of uncertain tax benefits due to the close of audits or expiration of statutory limitations.

Restructuring and Other

Restructuring and Other	6 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other	Restructuring and Other Restructuring and other includes restructuring and severance costs, certain transaction and other costs, and certain unusual items, when applicable. During the three and six months ended September 30, 2023 and 2022, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Restructuring and other: Content and other impairments (1) $ 211.6 $ 218.8 $ 239.5 $ 218.8 Severance (2) Cash 4.7 9.6 9.0 12.4 Accelerated vesting on equity awards (see Note 12) 1.1 — 1.6 0.6 Total severance costs 5.8 9.6 10.6 13.0 COVID-19 related charges included in restructuring and other — — — 0.1 Transaction and other costs (3) 4.7 4.8 3.9 9.4 Total Restructuring and Other 222.1 233.2 254.0 241.3 Other unusual charges not included in restructuring and other or the Company's operating segments: Content charges included in direct operating expense (4) — 7.2 — 7.2 COVID-19 related charges (benefit) included in direct operating expense (5) (0.6) (6.1) (0.4) (7.1) Total restructuring and other and other unusual charges not included in restructuring and other $ 221.5 $ 234.3 $ 253.6 $ 241.4 _______________________ (1) Media Networks Restructuring: In fiscal 2023, the Company began a plan to restructure its LIONSGATE+ business, which initially included exiting the business in seven international territories (France, Germany, Italy, Spain, Benelux, the Nordics and Japan), and identifying additional cost-saving initiatives. This plan included a strategic review of content performance across Starz's domestic and international platforms, resulting in certain programming being removed from those platforms and written down to fair value. Other Impairments: Amounts in the three and six months ended September 30, 2022 also include an impairment of an operating lease right-of-use asset related to the Studio business and corporate facilities amounting to $5.8 million associated with a portion of a facility lease that will no longer be utilized by the Company. The impairment reflects a decline in market conditions since the inception of the lease impacting potential sublease opportunities, and represents the difference between the estimated fair value, which was determined based on the expected discounted future cash flows of the lease asset, and the carrying value. (2) Severance costs were primarily related to restructuring activities and other cost-saving initiatives. (3) Transaction and other costs in the three and six months ended September 30, 2023 and 2022 reflect transaction, integration and legal costs associated with certain strategic transactions, and restructuring activities and also include costs and benefits associated with certain legal matters. In the six months ended September 30, 2023, transaction and other costs also includes a benefit of $3.8 million associated with an arrangement to migrate subscribers in some of the exited territories to a third-party in connection with the LIONSGATE+ international restructuring. (4) In the three and six months ended September 30, 2022, the amounts represent development costs written off as a result of changes in strategy across the Company's theatrical slate in connection with certain management changes and changes in the theatrical marketplace in the Motion Picture segment. These charges are excluded from segment results and included in amortization of investment in film and television programs in direct operating expense on the unaudited condensed consolidated statement of operations. (5) Amounts include incremental costs incurred due to circumstances associated with the COVID-19 global pandemic, net of insurance recoveries of $0.6 million in the three and six months ended September 30, 2023, respectively (three and six months ended September 30, 2022 - insurance recoveries of $6.9 million and $7.9 million, respectively). In the three and six months ended September 30, 2023 and 2022, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. 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, 2023 and 2022: Six Months Ended September 30, 2023 2022 (Amounts in millions) Severance liability Beginning balance $ 8.7 $ 1.5 Accruals 9.0 12.4 Severance payments (9.7) (3.8) Ending balance (1) $ 8.0 $ 10.1 _______________________

Segment Information

Segment Information	6 Months Ended
	Sep. 30, 2023
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. We refer to our Motion Picture and Television Production segments collectively as our Studio Business. Studio Business: 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 LIONSGATE+, 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 Business: 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 over-the-top ("OTT") platforms, on a direct-to-consumer basis through the Starz App, and through U.S. multichannel video programming distributors ("MVPDs") including cable operators, satellite television providers and telecommunication companies (collectively, "Distributors") (in the aggregate, the "Starz Domestic Platform"); and (ii) LIONSGATE+, which represents revenues primarily from the OTT distribution of the Company's STARZ branded premium subscription video services outside of the U.S. The Starz Domestic Platform together with the LIONSGATE+ platforms are referred to as the "Starz Platforms". 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, 2023 2022 2023 2022 (Amounts in millions) Segment revenues Studio Business: Motion Picture $ 395.9 $ 224.0 $ 802.5 $ 502.8 Television Production 393.9 430.9 612.4 863.2 Total Studio Business 789.8 654.9 1,414.9 1,366.0 Media Networks 416.5 396.1 797.6 777.3 Intersegment eliminations (190.8) (175.8) (288.4) (374.2) $ 1,015.5 $ 875.2 $ 1,924.1 $ 1,769.1 Intersegment revenues Studio Business: Motion Picture $ 60.5 $ 10.2 $ 77.1 $ 13.7 Television Production 130.3 165.6 211.3 360.5 Total Studio Business 190.8 175.8 288.4 374.2 Media Networks — — — — $ 190.8 $ 175.8 $ 288.4 $ 374.2 Gross contribution Studio Business: Motion Picture $ 94.2 $ 78.7 $ 192.9 $ 151.8 Television Production 77.5 23.8 113.0 54.3 Total Studio Business 171.7 102.5 305.9 206.1 Media Networks 89.4 45.1 147.1 31.6 Intersegment eliminations (23.8) (17.9) (31.9) (22.8) $ 237.3 $ 129.7 $ 421.1 $ 214.9 Segment general and administration Studio Business: Motion Picture $ 26.7 $ 23.2 $ 56.1 $ 45.7 Television Production 14.3 10.2 27.0 21.3 Total Studio Business 41.0 33.4 83.1 67.0 Media Networks 22.8 24.1 48.6 47.6 $ 63.8 $ 57.5 $ 131.7 $ 114.6 Segment profit (loss) Studio Business: Motion Picture $ 67.5 $ 55.5 $ 136.8 $ 106.1 Television Production 63.2 13.6 86.0 33.0 Total Studio Business 130.7 69.1 222.8 139.1 Media Networks 66.6 21.0 98.5 (16.0) Intersegment eliminations (23.8) (17.9) (31.9) (22.8) $ 173.5 $ 72.2 $ 289.4 $ 100.3 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/or programming and content strategy, certain charges related to the COVID-19 global pandemic, charges related to Russia's invasion of Ukraine, 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 loss before income taxes is as follows: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Company’s total segment profit $ 173.5 $ 72.2 $ 289.4 $ 100.3 Corporate general and administrative expenses (1) (32.8) (24.8) (63.1) (47.9) Adjusted depreciation and amortization (2) (9.9) (9.7) (19.9) (19.7) Restructuring and other (3) (222.1) (233.2) (254.0) (241.3) Goodwill and intangible asset impairment (4) (663.9) (1,475.0) (663.9) (1,475.0) COVID-19 related benefit (charges) included in direct operating expense (5) 0.6 6.1 0.4 7.1 Content charges (6) — (7.2) — (7.2) Adjusted share-based compensation expense (7) (26.0) (26.6) (41.9) (34.4) Purchase accounting and related adjustments (8) (36.9) (49.4) (81.3) (97.8) Operating loss (817.5) (1,747.6) (834.3) (1,815.9) Interest expense (63.8) (57.3) (125.8) (103.4) Interest and other income 2.7 1.8 4.7 3.1 Other expense (11.5) (5.4) (17.2) (10.4) Gain on extinguishment of debt — 3.4 21.2 2.1 Loss on investments, net (1.6) (3.1) (1.7) (1.3) Equity interests income (loss) 1.8 (0.1) 1.5 0.8 Loss before income taxes $ (889.9) $ (1,808.3) $ (951.6) $ (1,925.0) ___________________ (1) Corporate general and administrative expenses include certain corporate executive expense (such as salaries and wages for the office of the Chief Executive Officer, Chief Financial Officer, General Counsel and other corporate officers), investor relations costs, costs of maintaining corporate facilities, and other unallocated common administrative support functions, including corporate accounting, finance and financial reporting, internal and external audit and tax costs, corporate and other legal support functions, and certain information technology and human resources expense. (2) 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, 2023 2022 2023 2022 (Amounts in millions) Depreciation and amortization $ 44.6 $ 45.2 $ 89.0 $ 87.6 Less: Amount included in purchase accounting and related adjustments (34.7) (35.5) (69.1) (67.9) Adjusted depreciation and amortization $ 9.9 $ 9.7 $ 19.9 $ 19.7 (3) Restructuring and other includes restructuring and severance costs, certain transaction and other costs, and certain unusual items, when applicable (see Note 14). (4) Goodwill and intangible asset impairment reflects the goodwill impairment charges recorded in the quarters ended September 30, 2023 and September 30, 2022 related to the Media Networks reporting unit, and three months ended September 30, 2023 also includes the impairment of the indefinite-lived trade names related to the Media Networks reporting unit (see Note 5). (5) Amounts represent the incremental costs included in direct operating expense resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries. During the three and six months ended September 30, 2022, the Company has incurred a net benefit in direct operating expense due to insurance recoveries in excess of the incremental costs expensed in the period (see Note 14). These benefits (charges) are excluded from segment operating results. (6) Content charges represent certain charges included in direct operating expense in the consolidated statements of operations, and excluded from segment operating results (see Note 14 for further information). (7) 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, 2023 2022 2023 2022 (Amounts in millions) Total share-based compensation expense $ 27.1 $ 26.6 $ 43.5 $ 35.0 Less: Amount included in restructuring and other (i) (1.1) — (1.6) (0.6) Adjusted share-based compensation $ 26.0 $ 26.6 $ 41.9 $ 34.4 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. (8) 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, 2023 2022 2023 2022 (Amounts in millions) Purchase accounting and related adjustments: Direct operating $ — $ 0.7 $ — $ 0.7 General and administrative expense (i) 2.2 13.2 12.2 29.2 Depreciation and amortization 34.7 35.5 69.1 67.9 $ 36.9 $ 49.4 $ 81.3 $ 97.8 (i) These adjustments include the non-cash charge for the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the non-cash charge for the amortization of the recoupable portion of the purchase price and the expense associated with the noncontrolling equity interests in the distributable earnings related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense, as presented in the table below. The noncontrolling equity interest in the distributable earnings of 3 Arts Entertainment are reflected as an expense rather than noncontrolling interest in the consolidated statement of operations due to the relationship to continued employment. Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Amortization of recoupable portion of the purchase price $ — $ 1.9 $ 1.3 $ 3.8 Noncontrolling interest discount amortization — 5.0 — 10.0 Noncontrolling equity interest in distributable earnings 2.2 6.3 10.9 15.4 $ 2.2 $ 13.2 $ 12.2 $ 29.2 See Note 10 for revenues by media or product line as broken down by segment for the three and six months ended September 30, 2023 and 2022. 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, 2023 2022 2023 2022 (Amounts in millions) General and administration Segment general and administrative expenses $ 63.8 $ 57.5 $ 131.7 $ 114.6 Corporate general and administrative expenses 32.8 24.8 63.1 47.9 Share-based compensation expense included in general and administrative expense 24.8 25.8 40.1 33.2 Purchase accounting and related adjustments 2.2 13.2 12.2 29.2 $ 123.6 $ 121.3 $ 247.1 $ 224.9 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 $ 1,695.8 $ 1,759.4 Television Production 1,789.3 1,949.1 Media Networks 2,149.0 3,120.8 Other unallocated assets (1) 545.3 596.9 $ 6,179.4 $ 7,426.2 _____________________ (1) Other unallocated assets primarily consist of cash, other assets and investments.

Contingencies

Contingencies	6 Months Ended
	Sep. 30, 2023
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. As of September 30, 2023, the Company is not a party to any material pending claims or legal proceeding and is not aware of any other claims that it believes could, individually or in the aggregate, have a material adverse effect on the Company's financial position, results of operations or cash flows.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Sep. 30, 2023
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, 2023, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 23 months from September 30, 2023): September 30, 2023 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling 0.1 GBP in exchange for $0.1 0.84 GBP Czech Koruna 180.0 CZK in exchange for $7.2 23.00 CZK Euro 19.8 EUR in exchange for $20.8 0.92 EUR Canadian Dollar 16.3 CAD in exchange for $12.2 1.34 CAD Australian Dollar 0.1 AUD in exchange for $0.1 1.54 AUD Hungarian Forint 0.7 HUF in exchange for $— 367.20 HUF Mexican Peso 51.6 MXN in exchange for $2.5 20.38 MXN South African Rand 35.1 ZAR in exchange for $1.8 19.07 ZAR 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 a financing component (debt host) on a portion of our previously outstanding interest rate swaps, the cash flows related to these contracts are classified as financing activities through the date of termination. Designated Cash Flow Hedges. As of September 30, 2023 and March 31, 2023, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company's SOFR-based debt, see Note 6 and Note 7): Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 23, 2018 $700.0 2.915% March 24, 2025 (1) June 25, 2018 $200.0 2.723% March 23, 2025 (1) July 31, 2018 $300.0 2.885% March 23, 2025 (1) December 24, 2018 $50.0 2.744% March 23, 2025 (1) December 24, 2018 $100.0 2.808% March 23, 2025 (1) December 24, 2018 $50.0 2.728% March 23, 2025 (1) Total $1,700.0 __________________ (1) Represents the "Re-designated Swaps" as described in the May 2022 Transactions section below that were previously not designated cash flow hedges at March 31, 2022. May 2022 Transactions : In May 2022, the Company terminated certain of its previous interest rate swap contracts (the "Terminated Swaps"). As a result of the terminations, the Company received approximately $56.4 million. Simultaneously with the termination of the Terminated Swaps, the Company re-designated all other swaps previously not designated as cash flow hedges of variable rate debt. The receipt of approximately $56.4 million as a result of the termination was recorded as a reduction of the asset values of the derivatives amounting to $188.7 million and a reduction of the financing component (debt host) of the Terminated Swaps amounting to $131.3 million. At the time of the termination of the Terminated Swaps, there was approximately $180.4 million of unrealized gains recorded in accumulated other comprehensive income (loss) related to these Terminated Swaps. This amount will be amortized as a reduction of interest expense through the remaining term of the swaps unless it becomes probable that the cash flows originally hedged will not occur, in which case the proportionate amount of the gain will be recorded as a reduction to interest expense at that time. In addition, the liability amount of $6.8 million for the Re-designated Swaps at the re-designation date will be amortized as a reduction of interest expense throughout the remaining term of the Re-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 receipt of approximately $56.4 million was classified in the unaudited condensed consolidated statement of cash flows as cash provided by operating activities of $188.7 million reflecting the amount received for the derivative portion of the termination of swaps, and a use of cash in financing activities of $134.5 million reflecting the pay down of the financing component of the Terminated Swaps (inclusive of payments made between April 1, 2022 and the termination date amounting to $3.2 million). Financial Statement Effect of Derivatives Unaudited condensed consolidated statements of operations and comprehensive 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 loss for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive income (loss) $ (0.6) $ 2.1 $ (3.1) $ 1.7 Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense $ (0.4) $ 0.8 $ 0.1 $ (0.1) Interest rate swaps Gain recognized in accumulated other comprehensive income (loss) $ 9.3 $ 44.6 $ 36.4 $ 81.3 Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense $ 10.9 $ (3.2) $ 20.1 $ (9.2) Derivatives not designated as cash flow hedges: Interest rate swaps Loss reclassified from accumulated other comprehensive income (loss) into interest expense $ (1.8) $ (2.2) $ (3.8) $ (7.8) Total direct operating expense on consolidated statements of operations $ 557.1 $ 563.5 $ 1,038.3 $ 1,160.0 Total interest expense on consolidated statements of operations $ 63.8 $ 57.3 $ 125.8 $ 103.4 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 8). The portion of the swaps, if any, reflecting the financing component (debt host) 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, 2023 and March 31, 2023, there were no swaps outstanding that were subject to a master netting arrangement. As of September 30, 2023 and March 31, 2023, 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, 2023 Other Current Assets Other Non-Current Assets Other Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 0.1 $ — $ 0.5 $ — Interest rate swaps — 57.4 — — Fair value of derivatives $ 0.1 $ 57.4 $ 0.5 $ — March 31, 2023 Other Current Assets Other Non-Current Assets Other Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 2.9 $ — $ 0.1 $ — Interest rate swaps — 41.1 — — Fair value of derivatives $ 2.9 41.1 $ 0.1 — . As of September 30, 2023, based on the current release schedule, the Company estimates approximately $0.5 million of losses associated with forward foreign exchange contract cash flow hedges in accumulated other comprehensive income will be reclassified into earnings during the one-year period ending September 30, 2024.

Additional Financial Informatio

Additional Financial Information	6 Months Ended
	Sep. 30, 2023
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, 2023 and March 31, 2023. At September 30, 2023 and March 31, 2023, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility, IP Credit Facility, and Backlog Facility. September 30, March 31, (Amounts in millions) Cash and cash equivalents $ 223.6 $ 272.1 Restricted cash included in other current assets 31.0 27.9 Restricted cash included in other non-current assets 14.6 13.0 Total cash, cash equivalents and restricted cash $ 269.2 $ 313.0 Other Assets The composition of the Company’s other assets is as follows as of September 30, 2023 and March 31, 2023: September 30, March 31, (Amounts in millions) Other current assets Prepaid expenses and other $ 53.1 $ 43.3 Restricted cash 31.0 27.9 Contract assets 35.5 63.5 Tax credits receivable 186.2 129.5 $ 305.8 $ 264.2 Other non-current assets Prepaid expenses and other $ 12.5 $ 8.4 Restricted cash 14.6 13.0 Accounts receivable 30.2 37.8 Contract assets 7.9 5.1 Tax credits receivable 313.2 341.7 Operating lease right-of-use assets 149.7 169.0 Interest rate swap assets 57.4 41.1 $ 585.5 $ 616.1 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, 2023 and 2022. 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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 418.7 $ 333.5 $ 760.0 $ 670.8 Net cash proceeds received 408.3 328.3 744.9 662.0 Loss recorded related to transfers of receivables 10.4 5.2 15.1 8.8 At September 30, 2023, 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 $586.5 million (March 31, 2023 - $520.4 million). Pooled Monetization Agreement. In December 2019, the Company entered into a revolving agreement, as amended in July 2023, to transfer up to $100.0 million of certain receivables to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred, which matured on October 1, 2023. As customers paid their balances, the Company would transfer additional receivables into the program. The transferred receivables are fully guaranteed by a bankruptcy-remote wholly-owned subsidiary of the Company, which held additional receivables in the amount of $60.1 million as of September 30, 2023 that were 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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 16.3 $ 37.9 $ 22.2 $ 98.7 Less amounts from collections reinvested under revolving agreement (6.2) (26.0) (9.1) (50.1) Proceeds from new transfers 10.1 11.9 13.1 48.6 Collections not reinvested and remitted or to be remitted (9.0) (7.0) (13.4) (23.8) Net cash proceeds received (paid or to be paid) (1) $ 1.1 $ 4.9 $ (0.3) $ 24.8 Carrying value of receivables transferred and derecognized (2) $ 16.3 $ 37.8 $ 22.1 $ 96.9 Obligations recorded $ 1.0 $ 0.4 $ 2.1 $ 3.4 Loss recorded related to transfers of receivables $ 1.0 $ 0.3 $ 2.0 $ 1.6 ___________________ (1) In addition, during the six months ended September 30, 2022, the Company repurchased $20.9 million of receivables previously transferred, as separately agreed upon with the third-party purchasers, in order to monetize such receivables under the individual monetization program discussed above without being subject to the collateral requirements under the pooled monetization program. (2) Receivables net of unamortized discounts on long-term, non-interest bearing receivables. At September 30, 2023, 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 $46.0 million (March 31, 2023 - $52.3 million). On October 2, 2023, the Company voluntarily repurchased $46.0 million of receivables previously transferred. Content related payables Content related payables 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. Other Accrued Liabilities Other accrued liabilities include employee related liabilities (such as accrued bonuses and salaries and wages) of $102.4 million and $128.7 million at September 30, 2023 and March 31, 2023, respectively. Accumulated Other Comprehensive Income The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the six months ended September 30, 2023 and 2022, there was no income tax expense or benefit reflected in other comprehensive income due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance. Foreign currency translation adjustments Net unrealized gain (loss) on cash flow hedges Total (Amounts in millions) March 31, 2023 $ (21.6) $ 142.5 $ 120.9 Other comprehensive income (loss) (1.4) 33.3 31.9 Reclassifications to net loss (1) — (16.4) (16.4) September 30, 2023 $ (23.0) $ 159.4 $ 136.4 March 31, 2022 $ (19.7) $ 49.0 $ 29.3 Other comprehensive income (loss) (7.1) 83.0 75.9 Reclassifications to net loss (1) — 17.1 17.1 September 30, 2022 $ (26.8) $ 149.1 $ 122.3 ___________________ (1) Represents a gain of $0.1 million included in direct operating expense and a gain of $16.3 million included in interest expense on the unaudited condensed consolidated statement of operations in the six months ended September 30, 2023 (six months ended September 30, 2022 - loss of $0.1 million included in direct operating expense and loss of $17.0 million included in interest expense) (see Note 17). Supplemental Cash Flow Information Significant non-cash transactions during the six months ended September 30, 2023 and 2022 include certain interest rate swap agreements, which are discussed in Note 17, "Derivative Instruments and Hedging Activities".

General (Policies)

General (Policies)	6 Months Ended
	Sep. 30, 2023
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, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2024. The balance sheet at March 31, 2023 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, 2023, as amended.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions 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; estimates of future viewership used for the amortization of licensed program rights; 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.
Net Income (Loss) Per Share	Basic net loss per share is calculated based on the weighted average common shares outstanding for the period.

Investment In Films and Telev_2

Investment In Films and Television Programs and Licensed Program Rights (Tables)	6 Months Ended
	Sep. 30, 2023
Investment In Films And Television Programs and Program Rights [Abstract]
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 $ 622.3 $ 611.7 Completed and not released 413.0 278.7 In progress 254.6 457.0 In development 63.3 64.1 1,353.2 1,411.5 Film Group Monetization Released, net of accumulated amortization 531.6 657.8 Completed and not released 302.3 281.7 In progress 179.5 303.0 In development 8.7 8.2 1,022.1 1,250.7 Licensed program rights, net of accumulated amortization 221.9 285.7 Investment in films and television programs and licensed program rights, net $ 2,597.2 $ 2,947.9
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, 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, 2023 2022 2023 2022 (Amounts in millions) Amortization expense: Individual monetization $ 223.3 $ 235.4 $ 404.4 $ 503.2 Film group monetization 98.7 92.4 209.9 144.9 Licensed program rights 85.6 99.6 153.2 251.2 $ 407.6 $ 427.4 $ 767.5 $ 899.3
Impairments By Segment	The following table sets forth impairments by segment and the line item in our unaudited condensed consolidated statement of operations they are recorded in for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Impairments by segment: Included in direct operating expense: Motion Picture $ 26.8 $ — $ 27.0 $ 0.5 Television Production 5.4 3.5 5.4 4.7 Impairments not included in segment operating results (1) : Included in restructuring and other 211.6 213.0 239.5 213.0 $ 243.8 $ 216.5 $ 271.9 $ 218.2 ________________ (1) Represents charges related to the Media Networks restructuring plan initiatives, including content impairment of programming removed from its platforms and in certain international territories exited or to be exited. See Note 14 for further information.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Sep. 30, 2023
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 $ 65.6 $ 63.1 Other investments — 1.6 $ 65.6 $ 64.7
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 $ 211.2 $ 189.0 Non-current assets $ 152.7 $ 203.0 Current liabilities $ 251.7 $ 215.5 Non-current liabilities $ 61.6 $ 65.0
Summarized Statement of Income	Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Revenues $ 78.3 $ 37.5 $ 124.1 $ 78.1 Gross profit $ 27.0 $ 6.0 $ 33.6 $ 21.0 Net loss $ (2.8) $ (10.2) $ (8.7) $ (12.6)

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying value of goodwill by reporting segment were as follows: Motion Television Media Networks Total (Amounts in millions) Balance as of March 31, 2023 (1) $ 393.7 $ 401.9 $ 493.9 $ 1,289.5 Impairment — — (493.9) (493.9) Balance as of September 30, 2023 (1) $ 393.7 $ 401.9 $ — $ 795.6 ________________ (1) As of March 31, 2023 and September 30, 2023, accumulated goodwill impairment losses totaled $1.475 billion and $1.969 billion, respectively, related to the Media Networks reporting unit, as further described below.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt, Excluding Film Related and Other Obligations	Total debt of the Company, excluding film related obligations, was as follows: September 30, March 31, (Amounts in millions) Corporate debt: Revolving Credit Facility $ — $ — Term Loan A 414.9 428.2 Term Loan B 825.4 831.7 5.500% Senior Notes 715.0 800.0 Total corporate debt 1,955.3 2,059.9 Unamortized debt issuance costs (33.1) (40.3) Total debt, net 1,922.2 2,019.6 Less current portion (47.0) (41.4) Non-current portion of debt $ 1,875.2 $ 1,978.2
Gain (Loss) on Extinguishment of Debt	During the three and six months ended September 30, 2023 and 2022, the Company recorded a gain (loss) on extinguishment of debt related to the transactions described above as summarized in the table below: Three Months Ended Six Months Ended 2023 2022 2023 2022 (Amounts in millions) Gain (Loss) on Extinguishment of Debt: Senior Notes repurchases $ — $ 3.4 $ 21.2 $ 3.4 Term Loan A prepayment — — — (1.3) $ — $ 3.4 $ 21.2 $ 2.1

Film Related Obligations (Table

Film Related Obligations (Tables)	6 Months Ended
	Sep. 30, 2023
Film Related Obligations [Abstract]
Components	September 30, March 31, (Amounts in millions) Film related obligations: Production Loans $ 1,198.9 $ 1,349.9 Production Tax Credit Facility 234.3 231.8 Programming Notes 67.9 83.6 Backlog Facility and Other 186.6 226.0 IP Credit Facility 124.8 143.8 Total film related obligations 1,812.5 2,035.1 Unamortized debt issuance costs (10.7) (11.5) Total film related obligations, net 1,801.8 2,023.6 Less current portion (1,259.5) (1,007.2) Total non-current film related obligations $ 542.3 $ 1,016.4
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 From Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2023 $30.4 November 14, 2023 September 30, 2024 $60.7 November 14, 2024 September 30, 2025 $91.1 November 14, 2025 September 30, 2026 $121.4 November 14, 2026 July 30, 2027 $161.9 July 30, 2027

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2023
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, 2023 and March 31, 2023: September 30, 2023 March 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Forward exchange contracts (see Note 17) $ — $ 0.1 $ 0.1 $ — $ 2.9 $ 2.9 Interest rate swaps (see Note 17) — 57.4 57.4 — 41.1 41.1 Liabilities: Forward exchange contracts (see Note 17) — (0.5) (0.5) — (0.1) (0.1)
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 and film related obligations at September 30, 2023 and March 31, 2023: September 30, 2023 March 31, 2023 (Amounts in millions) Carrying Value Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Term Loan A $ 411.5 $ 412.8 $ 424.2 $ 415.4 Term Loan B 822.0 824.4 827.2 817.1 5.500% Senior Notes 695.1 475.5 776.0 510.0 Production Loans 1,193.8 1,198.9 1,346.1 1,349.9 Production Tax Credit Facility 232.7 234.3 229.4 231.8 Programming Notes 67.9 67.9 83.6 83.6 Backlog Facility and Other 185.2 186.6 223.7 226.0 IP Credit Facility 122.2 124.8 140.8 143.8 ________________ (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 SOFR-based yield curves, swap rates, and credit ratings (Level 2 measurements).

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Sep. 30, 2023
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The table below presents the reconciliation of changes in redeemable noncontrolling interests: Six Months Ended September 30, 2023 2022 (Amounts in millions) Beginning balance $ 343.6 $ 321.2 Net loss attributable to redeemable noncontrolling interests (3.3) (6.1) Noncontrolling interests discount accretion — 10.0 Adjustments to redemption value 71.0 20.6 Cash distributions (0.6) (2.5) Purchase of noncontrolling interest (0.6) — Ending balance $ 410.1 $ 343.2

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Sep. 30, 2023
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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 28.2 $ 6.0 $ 94.1 $ 16.9 Home Entertainment Digital Media 165.7 101.9 339.8 231.1 Packaged Media 16.1 13.9 42.0 36.0 Total Home Entertainment 181.8 115.8 381.8 267.1 Television 100.8 51.7 149.3 100.0 International 79.7 45.5 160.7 111.2 Other 5.4 5.0 16.6 7.6 Total Motion Picture revenues 395.9 224.0 802.5 502.8 Television Production Television 221.8 294.2 371.9 595.6 International 73.6 74.4 105.6 153.7 Home Entertainment Digital Media 84.2 42.6 96.0 73.9 Packaged Media 0.3 0.5 0.7 1.4 Total Home Entertainment 84.5 43.1 96.7 75.3 Other 14.0 19.2 38.2 38.6 Total Television Production revenues 393.9 430.9 612.4 863.2 Media Networks - Programming Revenues Domestic 339.8 357.5 677.2 707.1 International 76.7 38.6 120.4 70.2 416.5 396.1 797.6 777.3 Intersegment eliminations (190.8) (175.8) (288.4) (374.2) Total revenues $ 1,015.5 $ 875.2 $ 1,924.1 $ 1,769.1
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, 2023 are as follows: Rest of Year Ending March 31, 2024 Year Ending March 31, 2025 2026 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 699.2 $ 588.5 $ 363.6 $ 108.3 $ 1,759.6 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.
Accounts Receivable, Provision for Doubtful Accounts	Changes in the provision for doubtful accounts consisted of the following: March 31, 2023 (Benefit) provision for doubtful accounts Uncollectible accounts written-off (1) September 30, 2023 (Amounts in millions) Provision for doubtful accounts $ 9.2 $ 0.1 $ (3.4) $ 5.9 _______________________ (1) Represents primarily accounts receivable previously reserved for bad debt from customers in Russia, related to Russia's invasion of Ukraine.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Basic Net Loss Per Common Share	Basic and diluted net loss per share for the three and six months ended September 30, 2023 and 2022 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions, except per share amounts) Basic and Diluted Net Loss Per Common Share: Numerator: Net loss attributable to Lions Gate Entertainment Corp. shareholders $ (886.2) $ (1,811.1) $ (956.9) $ (1,930.1) Denominator: Weighted average common shares outstanding 234.0 227.9 232.1 226.8 Basic and diluted net loss per common share $ (3.79) $ (7.95) $ (4.12) $ (8.51)
Diluted Net Loss Per Common Share	Basic and diluted net loss per share for the three and six months ended September 30, 2023 and 2022 is presented below: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions, except per share amounts) Basic and Diluted Net Loss Per Common Share: Numerator: Net loss attributable to Lions Gate Entertainment Corp. shareholders $ (886.2) $ (1,811.1) $ (956.9) $ (1,930.1) Denominator: Weighted average common shares outstanding 234.0 227.9 232.1 226.8 Basic and diluted net loss per common share $ (3.79) $ (7.95) $ (4.12) $ (8.51)
Anti-dilutive Shares Issuable	Additionally, for the three and six months ended September 30, 2023 and 2022, the outstanding common shares issuable presented below were excluded from diluted net 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, 2023 2022 2023 2022 (Amounts in millions) Anti-dilutive shares issuable Share purchase options 20.4 23.7 18.7 21.7 Restricted share units 6.6 1.8 3.4 1.0 Other issuable shares 4.1 2.6 4.0 2.7 Total weighted average anti-dilutive shares issuable excluded from diluted net loss per common share 31.1 28.1 26.1 25.4

Capital Stock (Tables)

Capital Stock (Tables)	6 Months Ended
	Sep. 30, 2023
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 share appreciation rights (SARs) outstanding 20.8 24.8 Restricted share units and restricted stock — unvested 13.6 14.0 Common shares available for future issuance 8.2 11.4 Shares reserved for future issuance 42.6 50.2
Share-Based Compensation Expense	The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Compensation Expense: Stock options $ 0.5 $ 2.3 $ 1.4 $ 4.0 Restricted share units and other share-based compensation 25.0 23.2 39.3 28.9 Share appreciation rights 0.5 1.1 1.2 1.5 26.0 26.6 41.9 34.4 Impact of accelerated vesting on equity awards (1) 1.1 — 1.6 0.6 Total share-based compensation expense $ 27.1 $ 26.6 $ 43.5 $ 35.0 ___________________ (1) Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Share-Based Compensation Expense: Direct operating $ 0.9 $ 0.6 $ 1.4 $ 0.8 Distribution and marketing 0.3 0.2 0.4 0.4 General and administration 24.8 25.8 40.1 33.2 Restructuring and other 1.1 — 1.6 0.6 $ 27.1 $ 26.6 $ 43.5 $ 35.0
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, 2023: 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, 2023 4.3 $26.35 20.5 $15.23 — (1) $10.95 14.0 $9.48 Granted — — — — — — 9.2 $8.19 Options exercised or restricted stock or RSUs vested — $7.70 (1) (0.1) $7.15 — (1) 10.89 (9.1) $9.33 Forfeited or expired (1.8) $30.79 (2.1) $29.19 — — (0.5) $8.77 Outstanding at September 30, 2023 2.5 $22.99 18.3 $13.82 — (1) $11.01 13.6 $8.73 __________________ (1) Represents less than 0.1 million shares.

Restructuring and Other (Tables

Restructuring and Other (Tables)	6 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other	During the three and six months ended September 30, 2023 and 2022, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Restructuring and other: Content and other impairments (1) $ 211.6 $ 218.8 $ 239.5 $ 218.8 Severance (2) Cash 4.7 9.6 9.0 12.4 Accelerated vesting on equity awards (see Note 12) 1.1 — 1.6 0.6 Total severance costs 5.8 9.6 10.6 13.0 COVID-19 related charges included in restructuring and other — — — 0.1 Transaction and other costs (3) 4.7 4.8 3.9 9.4 Total Restructuring and Other 222.1 233.2 254.0 241.3 Other unusual charges not included in restructuring and other or the Company's operating segments: Content charges included in direct operating expense (4) — 7.2 — 7.2 COVID-19 related charges (benefit) included in direct operating expense (5) (0.6) (6.1) (0.4) (7.1) Total restructuring and other and other unusual charges not included in restructuring and other $ 221.5 $ 234.3 $ 253.6 $ 241.4 _______________________ (1) Media Networks Restructuring: In fiscal 2023, the Company began a plan to restructure its LIONSGATE+ business, which initially included exiting the business in seven international territories (France, Germany, Italy, Spain, Benelux, the Nordics and Japan), and identifying additional cost-saving initiatives. This plan included a strategic review of content performance across Starz's domestic and international platforms, resulting in certain programming being removed from those platforms and written down to fair value. Other Impairments: Amounts in the three and six months ended September 30, 2022 also include an impairment of an operating lease right-of-use asset related to the Studio business and corporate facilities amounting to $5.8 million associated with a portion of a facility lease that will no longer be utilized by the Company. The impairment reflects a decline in market conditions since the inception of the lease impacting potential sublease opportunities, and represents the difference between the estimated fair value, which was determined based on the expected discounted future cash flows of the lease asset, and the carrying value. (2) Severance costs were primarily related to restructuring activities and other cost-saving initiatives. (3) Transaction and other costs in the three and six months ended September 30, 2023 and 2022 reflect transaction, integration and legal costs associated with certain strategic transactions, and restructuring activities and also include costs and benefits associated with certain legal matters. In the six months ended September 30, 2023, transaction and other costs also includes a benefit of $3.8 million associated with an arrangement to migrate subscribers in some of the exited territories to a third-party in connection with the LIONSGATE+ international restructuring. (4) In the three and six months ended September 30, 2022, the amounts represent development costs written off as a result of changes in strategy across the Company's theatrical slate in connection with certain management changes and changes in the theatrical marketplace in the Motion Picture segment. These charges are excluded from segment results and included in amortization of investment in film and television programs in direct operating expense on the unaudited condensed consolidated statement of operations. (5) Amounts include incremental costs incurred due to circumstances associated with the COVID-19 global pandemic, net of insurance recoveries of $0.6 million in the three and six months ended September 30, 2023, respectively (three and six months ended September 30, 2022 - insurance recoveries of $6.9 million and $7.9 million, respectively). In the three and six months ended September 30, 2023 and 2022, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. 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, 2023 and 2022: Six Months Ended September 30, 2023 2022 (Amounts in millions) Severance liability Beginning balance $ 8.7 $ 1.5 Accruals 9.0 12.4 Severance payments (9.7) (3.8) Ending balance (1) $ 8.0 $ 10.1 _______________________

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment information is presented in the table below: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Segment revenues Studio Business: Motion Picture $ 395.9 $ 224.0 $ 802.5 $ 502.8 Television Production 393.9 430.9 612.4 863.2 Total Studio Business 789.8 654.9 1,414.9 1,366.0 Media Networks 416.5 396.1 797.6 777.3 Intersegment eliminations (190.8) (175.8) (288.4) (374.2) $ 1,015.5 $ 875.2 $ 1,924.1 $ 1,769.1 Intersegment revenues Studio Business: Motion Picture $ 60.5 $ 10.2 $ 77.1 $ 13.7 Television Production 130.3 165.6 211.3 360.5 Total Studio Business 190.8 175.8 288.4 374.2 Media Networks — — — — $ 190.8 $ 175.8 $ 288.4 $ 374.2 Gross contribution Studio Business: Motion Picture $ 94.2 $ 78.7 $ 192.9 $ 151.8 Television Production 77.5 23.8 113.0 54.3 Total Studio Business 171.7 102.5 305.9 206.1 Media Networks 89.4 45.1 147.1 31.6 Intersegment eliminations (23.8) (17.9) (31.9) (22.8) $ 237.3 $ 129.7 $ 421.1 $ 214.9 Segment general and administration Studio Business: Motion Picture $ 26.7 $ 23.2 $ 56.1 $ 45.7 Television Production 14.3 10.2 27.0 21.3 Total Studio Business 41.0 33.4 83.1 67.0 Media Networks 22.8 24.1 48.6 47.6 $ 63.8 $ 57.5 $ 131.7 $ 114.6 Segment profit (loss) Studio Business: Motion Picture $ 67.5 $ 55.5 $ 136.8 $ 106.1 Television Production 63.2 13.6 86.0 33.0 Total Studio Business 130.7 69.1 222.8 139.1 Media Networks 66.6 21.0 98.5 (16.0) Intersegment eliminations (23.8) (17.9) (31.9) (22.8) $ 173.5 $ 72.2 $ 289.4 $ 100.3
Reconciliation Of Total Segment Profit To The Company's Loss Before Income Taxes	The reconciliation of total segment profit to the Company’s loss before income taxes is as follows: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Company’s total segment profit $ 173.5 $ 72.2 $ 289.4 $ 100.3 Corporate general and administrative expenses (1) (32.8) (24.8) (63.1) (47.9) Adjusted depreciation and amortization (2) (9.9) (9.7) (19.9) (19.7) Restructuring and other (3) (222.1) (233.2) (254.0) (241.3) Goodwill and intangible asset impairment (4) (663.9) (1,475.0) (663.9) (1,475.0) COVID-19 related benefit (charges) included in direct operating expense (5) 0.6 6.1 0.4 7.1 Content charges (6) — (7.2) — (7.2) Adjusted share-based compensation expense (7) (26.0) (26.6) (41.9) (34.4) Purchase accounting and related adjustments (8) (36.9) (49.4) (81.3) (97.8) Operating loss (817.5) (1,747.6) (834.3) (1,815.9) Interest expense (63.8) (57.3) (125.8) (103.4) Interest and other income 2.7 1.8 4.7 3.1 Other expense (11.5) (5.4) (17.2) (10.4) Gain on extinguishment of debt — 3.4 21.2 2.1 Loss on investments, net (1.6) (3.1) (1.7) (1.3) Equity interests income (loss) 1.8 (0.1) 1.5 0.8 Loss before income taxes $ (889.9) $ (1,808.3) $ (951.6) $ (1,925.0) ___________________ (1) Corporate general and administrative expenses include certain corporate executive expense (such as salaries and wages for the office of the Chief Executive Officer, Chief Financial Officer, General Counsel and other corporate officers), investor relations costs, costs of maintaining corporate facilities, and other unallocated common administrative support functions, including corporate accounting, finance and financial reporting, internal and external audit and tax costs, corporate and other legal support functions, and certain information technology and human resources expense. (2) 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, 2023 2022 2023 2022 (Amounts in millions) Depreciation and amortization $ 44.6 $ 45.2 $ 89.0 $ 87.6 Less: Amount included in purchase accounting and related adjustments (34.7) (35.5) (69.1) (67.9) Adjusted depreciation and amortization $ 9.9 $ 9.7 $ 19.9 $ 19.7 (3) Restructuring and other includes restructuring and severance costs, certain transaction and other costs, and certain unusual items, when applicable (see Note 14). (4) Goodwill and intangible asset impairment reflects the goodwill impairment charges recorded in the quarters ended September 30, 2023 and September 30, 2022 related to the Media Networks reporting unit, and three months ended September 30, 2023 also includes the impairment of the indefinite-lived trade names related to the Media Networks reporting unit (see Note 5). (5) Amounts represent the incremental costs included in direct operating expense resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries. During the three and six months ended September 30, 2022, the Company has incurred a net benefit in direct operating expense due to insurance recoveries in excess of the incremental costs expensed in the period (see Note 14). These benefits (charges) are excluded from segment operating results. (6) Content charges represent certain charges included in direct operating expense in the consolidated statements of operations, and excluded from segment operating results (see Note 14 for further information). (7) 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, 2023 2022 2023 2022 (Amounts in millions) Total share-based compensation expense $ 27.1 $ 26.6 $ 43.5 $ 35.0 Less: Amount included in restructuring and other (i) (1.1) — (1.6) (0.6) Adjusted share-based compensation $ 26.0 $ 26.6 $ 41.9 $ 34.4 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. (8) 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, 2023 2022 2023 2022 (Amounts in millions) Purchase accounting and related adjustments: Direct operating $ — $ 0.7 $ — $ 0.7 General and administrative expense (i) 2.2 13.2 12.2 29.2 Depreciation and amortization 34.7 35.5 69.1 67.9 $ 36.9 $ 49.4 $ 81.3 $ 97.8 (i) These adjustments include the non-cash charge for the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the non-cash charge for the amortization of the recoupable portion of the purchase price and the expense associated with the noncontrolling equity interests in the distributable earnings related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense, as presented in the table below. The noncontrolling equity interest in the distributable earnings of 3 Arts Entertainment are reflected as an expense rather than noncontrolling interest in the consolidated statement of operations due to the relationship to continued employment. Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Amortization of recoupable portion of the purchase price $ — $ 1.9 $ 1.3 $ 3.8 Noncontrolling interest discount amortization — 5.0 — 10.0 Noncontrolling equity interest in distributable earnings 2.2 6.3 10.9 15.4 $ 2.2 $ 13.2 $ 12.2 $ 29.2
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, 2023 2022 2023 2022 (Amounts in millions) General and administration Segment general and administrative expenses $ 63.8 $ 57.5 $ 131.7 $ 114.6 Corporate general and administrative expenses 32.8 24.8 63.1 47.9 Share-based compensation expense included in general and administrative expense 24.8 25.8 40.1 33.2 Purchase accounting and related adjustments 2.2 13.2 12.2 29.2 $ 123.6 $ 121.3 $ 247.1 $ 224.9
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 $ 1,695.8 $ 1,759.4 Television Production 1,789.3 1,949.1 Media Networks 2,149.0 3,120.8 Other unallocated assets (1) 545.3 596.9 $ 6,179.4 $ 7,426.2 _____________________ (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, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Outstanding	As of September 30, 2023, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 23 months from September 30, 2023): September 30, 2023 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling 0.1 GBP in exchange for $0.1 0.84 GBP Czech Koruna 180.0 CZK in exchange for $7.2 23.00 CZK Euro 19.8 EUR in exchange for $20.8 0.92 EUR Canadian Dollar 16.3 CAD in exchange for $12.2 1.34 CAD Australian Dollar 0.1 AUD in exchange for $0.1 1.54 AUD Hungarian Forint 0.7 HUF in exchange for $— 367.20 HUF Mexican Peso 51.6 MXN in exchange for $2.5 20.38 MXN South African Rand 35.1 ZAR in exchange for $1.8 19.07 ZAR Designated Cash Flow Hedges. As of September 30, 2023 and March 31, 2023, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company's SOFR-based debt, see Note 6 and Note 7): Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 23, 2018 $700.0 2.915% March 24, 2025 (1) June 25, 2018 $200.0 2.723% March 23, 2025 (1) July 31, 2018 $300.0 2.885% March 23, 2025 (1) December 24, 2018 $50.0 2.744% March 23, 2025 (1) December 24, 2018 $100.0 2.808% March 23, 2025 (1) December 24, 2018 $50.0 2.728% March 23, 2025 (1) Total $1,700.0 __________________ (1) Represents the "Re-designated Swaps" as described in the May 2022 Transactions section below that were previously not designated cash flow hedges at March 31, 2022. May 2022 Transactions : In May 2022, the Company terminated certain of its previous interest rate swap contracts (the "Terminated Swaps"). As a result of the terminations, the Company received approximately $56.4 million. Simultaneously with the termination of the Terminated Swaps, the Company re-designated all other swaps previously not designated as cash flow hedges of variable rate debt. The receipt of approximately $56.4 million as a result of the termination was recorded as a reduction of the asset values of the derivatives amounting to $188.7 million and a reduction of the financing component (debt host) of the Terminated Swaps amounting to $131.3 million. At the time of the termination of the Terminated Swaps, there was approximately $180.4 million of unrealized gains recorded in accumulated other comprehensive income (loss) related to these Terminated Swaps. This amount will be amortized as a reduction of interest expense through the remaining term of the swaps unless it becomes probable that the cash flows originally hedged will not occur, in which case the proportionate amount of the gain will be recorded as a reduction to interest expense at that time. In addition, the liability amount of $6.8 million for the Re-designated Swaps at the re-designation date will be amortized as a reduction of interest expense throughout the remaining term of the Re-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 receipt of approximately $56.4 million was classified in the unaudited condensed consolidated statement of cash flows as cash provided by operating activities of $188.7 million reflecting the amount received for the derivative portion of the termination of swaps, and a use of cash in financing activities of $134.5 million reflecting the pay down of the financing component of the Terminated Swaps (inclusive of payments made between April 1, 2022 and the termination date amounting to $3.2 million).
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income (Loss), 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 loss for the three and six months ended September 30, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive income (loss) $ (0.6) $ 2.1 $ (3.1) $ 1.7 Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense $ (0.4) $ 0.8 $ 0.1 $ (0.1) Interest rate swaps Gain recognized in accumulated other comprehensive income (loss) $ 9.3 $ 44.6 $ 36.4 $ 81.3 Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense $ 10.9 $ (3.2) $ 20.1 $ (9.2) Derivatives not designated as cash flow hedges: Interest rate swaps Loss reclassified from accumulated other comprehensive income (loss) into interest expense $ (1.8) $ (2.2) $ (3.8) $ (7.8) Total direct operating expense on consolidated statements of operations $ 557.1 $ 563.5 $ 1,038.3 $ 1,160.0 Total interest expense on consolidated statements of operations $ 63.8 $ 57.3 $ 125.8 $ 103.4
Derivative Instruments by Balance Sheet Location	As of September 30, 2023 and March 31, 2023, 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, 2023 Other Current Assets Other Non-Current Assets Other Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 0.1 $ — $ 0.5 $ — Interest rate swaps — 57.4 — — Fair value of derivatives $ 0.1 $ 57.4 $ 0.5 $ — March 31, 2023 Other Current Assets Other Non-Current Assets Other Accrued Liabilities Other Non-Current Liabilities (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 2.9 $ — $ 0.1 $ — Interest rate swaps — 41.1 — — Fair value of derivatives $ 2.9 41.1 $ 0.1 — .

Additional Financial Informat_2

Additional Financial Information (Tables)	6 Months Ended
	Sep. 30, 2023
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, 2023 and March 31, 2023. At September 30, 2023 and March 31, 2023, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility, IP Credit Facility, and Backlog Facility. September 30, March 31, (Amounts in millions) Cash and cash equivalents $ 223.6 $ 272.1 Restricted cash included in other current assets 31.0 27.9 Restricted cash included in other non-current assets 14.6 13.0 Total cash, cash equivalents and restricted cash $ 269.2 $ 313.0
Schedule of Other Assets	The composition of the Company’s other assets is as follows as of September 30, 2023 and March 31, 2023: September 30, March 31, (Amounts in millions) Other current assets Prepaid expenses and other $ 53.1 $ 43.3 Restricted cash 31.0 27.9 Contract assets 35.5 63.5 Tax credits receivable 186.2 129.5 $ 305.8 $ 264.2 Other non-current assets Prepaid expenses and other $ 12.5 $ 8.4 Restricted cash 14.6 13.0 Accounts receivable 30.2 37.8 Contract assets 7.9 5.1 Tax credits receivable 313.2 341.7 Operating lease right-of-use assets 149.7 169.0 Interest rate swap assets 57.4 41.1 $ 585.5 $ 616.1
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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 418.7 $ 333.5 $ 760.0 $ 670.8 Net cash proceeds received 408.3 328.3 744.9 662.0 Loss recorded related to transfers of receivables 10.4 5.2 15.1 8.8 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, 2023 and 2022: Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 16.3 $ 37.9 $ 22.2 $ 98.7 Less amounts from collections reinvested under revolving agreement (6.2) (26.0) (9.1) (50.1) Proceeds from new transfers 10.1 11.9 13.1 48.6 Collections not reinvested and remitted or to be remitted (9.0) (7.0) (13.4) (23.8) Net cash proceeds received (paid or to be paid) (1) $ 1.1 $ 4.9 $ (0.3) $ 24.8 Carrying value of receivables transferred and derecognized (2) $ 16.3 $ 37.8 $ 22.1 $ 96.9 Obligations recorded $ 1.0 $ 0.4 $ 2.1 $ 3.4 Loss recorded related to transfers of receivables $ 1.0 $ 0.3 $ 2.0 $ 1.6 ___________________ (1) In addition, during the six months ended September 30, 2022, the Company repurchased $20.9 million of receivables previously transferred, as separately agreed upon with the third-party purchasers, in order to monetize such receivables under the individual monetization program discussed above without being subject to the collateral requirements under the pooled monetization program. (2) Receivables net of unamortized discounts on long-term, non-interest bearing receivables.
Schedule of Accumulated Other Comprehensive Income	The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the six months ended September 30, 2023 and 2022, there was no income tax expense or benefit reflected in other comprehensive income due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance. Foreign currency translation adjustments Net unrealized gain (loss) on cash flow hedges Total (Amounts in millions) March 31, 2023 $ (21.6) $ 142.5 $ 120.9 Other comprehensive income (loss) (1.4) 33.3 31.9 Reclassifications to net loss (1) — (16.4) (16.4) September 30, 2023 $ (23.0) $ 159.4 $ 136.4 March 31, 2022 $ (19.7) $ 49.0 $ 29.3 Other comprehensive income (loss) (7.1) 83.0 75.9 Reclassifications to net loss (1) — 17.1 17.1 September 30, 2022 $ (26.8) $ 149.1 $ 122.3 ___________________ (1) Represents a gain of $0.1 million included in direct operating expense and a gain of $16.3 million included in interest expense on the unaudited condensed consolidated statement of operations in the six months ended September 30, 2023 (six months ended September 30, 2022 - loss of $0.1 million included in direct operating expense and loss of $17.0 million included in interest expense) (see Note 17).

General (Narrative) (Details)

General (Narrative) (Details) title in Thousands	Sep. 30, 2023 title
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of titles in library	18

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	Aug. 03, 2023 USD ($)
eOne
Business Acquisition [Line Items]
Business Combination, Price of Acquisition, Expected	$ 375

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, 2023	Mar. 31, 2023
Segment Reporting Information [Line Items]
Acquired film and television libraries, unamortized costs	$ 125.5	$ 132.8
Acquired libraries, remaining amortization period	17 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, 2023	Mar. 31, 2023
Individual Monetization
Released, net of accumulated amortization	$ 622.3	$ 611.7
Completed and not released	413	278.7
In progress	254.6	457
In development	63.3	64.1
Total	1,353.2	1,411.5
Film Group Monetization
Released, net of accumulated amortization	531.6	657.8
Completed and not released	302.3	281.7
In progress	179.5	303
In development	8.7	8.2
Total	1,022.1	1,250.7
Licensed program rights, net of accumulated amortization	221.9	285.7
Investment in films and television programs and licensed program rights, net	$ 2,597.2	$ 2,947.9

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investment In Films And Television Programs and Program Rights [Abstract]
Individual monetization	$ 223.3	$ 235.4	$ 404.4	$ 503.2
Film group monetization	98.7	92.4	209.9	144.9
Licensed program rights	85.6	99.6	153.2	251.2
Total amortization of films and television programs and licensed program rights	$ 407.6	$ 427.4	$ 767.5	$ 899.3

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		18 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	$ 243.8	$ 216.5	$ 271.9	$ 218.2
Restructuring and other	$ 222.1	$ 233.2	$ 254	$ 241.3
Film, Monetized on Its Own, and Film Group, Impairment, Statement of Income [Extensible Enumeration]	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other
Content impairments
Segment Reporting Information [Line Items]
Restructuring and other	$ 211.6	$ 218.8	$ 239.5	$ 218.8
Not included in segment operating results
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	211.6	213	239.5	213
Motion Picture | Reportable Segments
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	26.8	0	27	0.5
Television Production | Reportable Segments
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs and licensed program rights	5.4	3.5	5.4	4.7
Media Networks | Content impairments
Segment Reporting Information [Line Items]
Restructuring and other	$ 211.6	$ 213	$ 239.5	$ 213	$ 618.9

Investments (Investments by Cat

Investments (Investments by Category) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments in equity method investees	$ 65.6	$ 63.1
Other investments	0	1.6
Investments	$ 65.6	$ 64.7

Investments (Equity Method Inve

Investments (Equity Method Investments Narrative) (Details)	Sep. 30, 2023
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership percentage	6%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership percentage	49%

Investments (Summarized Balance

Investments (Summarized Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Schedule of Equity Method Investments [Line Items]
Current assets	$ 986.5	$ 1,118.4
Current liabilities	2,821.8	2,570.7
Equity Method Investees
Schedule of Equity Method Investments [Line Items]
Current assets	211.2	189
Non-current assets	152.7	203
Current liabilities	251.7	215.5
Non-current liabilities	$ 61.6	$ 65

Investments (Summarized Stateme

Investments (Summarized Statements of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Net loss	$ (887.9)	$ (1,813.3)	$ (959.4)	$ (1,936)
Equity Method Investees
Schedule of Equity Method Investments [Line Items]
Revenues	78.3	37.5	124.1	78.1
Gross profit	27	6	33.6	21
Net loss	$ (2.8)	$ (10.2)	$ (8.7)	$ (12.6)

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Goodwill) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, balance at beginning of period	$ 1,289.5
Impairment	(493.9)
Goodwill, balance at end of period	795.6
Motion Picture
Goodwill [Roll Forward]
Goodwill, balance at beginning of period	393.7
Impairment	0
Goodwill, balance at end of period	393.7
Television Production
Goodwill [Roll Forward]
Goodwill, balance at beginning of period	401.9
Impairment	0
Goodwill, balance at end of period	401.9
Media Networks
Goodwill [Roll Forward]
Goodwill, balance at beginning of period	493.9
Impairment	(493.9)
Goodwill, balance at end of period	0
Accumulated goodwill impairment losses	$ 1,969	$ 1,475

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Mar. 31, 2024	Dec. 08, 2016
Goodwill [Line Items]
Goodwill impairment charge			$ 493.9
Impairment of Starz tradename indefinite lived intangible assets	$ 170
Trade names intangible asset, estimated useful life	10 years		10 years
Forecast
Goodwill [Line Items]
Increase to amortization expense				$ 4
Trade Names
Goodwill [Line Items]
Indefinite-lived intangible assets - Starz tradename	$ 80		$ 80
Media Networks
Goodwill [Line Items]
Goodwill impairment charge	493.9	$ 1,475
Media Networks | Customer Relationships
Goodwill [Line Items]
Finite-lived customer relationship intangible assets, net	$ 956.8		956.8
Media Networks | Trade Names
Goodwill [Line Items]
Indefinite-lived intangible assets - Starz tradename					$ 250
Media Networks
Goodwill [Line Items]
Goodwill impairment charge			$ 493.9

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Total corporate debt	$ 1,955.3	$ 2,059.9
Unamortized debt issuance costs	(33.1)	(40.3)
Total debt, net	1,922.2	2,019.6
Less current portion	(47)	(41.4)
Non-current portion of debt	1,875.2	1,978.2
Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt	0	0
Term Loans | Term Loan A
Debt Instrument [Line Items]
Total corporate debt	414.9	428.2
Term Loans | Term Loan B
Debt Instrument [Line Items]
Total corporate debt	825.4	831.7
Senior Notes | 5.500% Senior Notes
Debt Instrument [Line Items]
Total corporate debt	$ 715	$ 800
Coupon rate	5.50%

Debt (Narrative - Transactions)

Debt (Narrative - Transactions) (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate		5.50%
Debt instrument, principal amount repurchased		$ 85	$ 18.7
Debt instrument, amount paid for repurchases		61.4	14.6
5.500% Senior Notes One | Senior Notes
Debt Instrument [Line Items]
Debt instrument, principal amount repurchased		$ 0	18.7
Debt instrument, amount paid for repurchases			$ 14.6
Term Loan A | Term Loans
Debt Instrument [Line Items]
Principal amount of debt redeemed	$ 193.6

Debt (Narrative - Senior Credit

Debt (Narrative - Senior Credit Facilities) (Details) $ in Millions		2 Months Ended	6 Months Ended
	Jun. 14, 2023	Jun. 13, 2023	Sep. 30, 2023 USD ($) increase
Revolving Credit Facility
Line of Credit Facility [Abstract]
Revolving credit facility, maximum borrowing capacity			$ 1,250
Revolving credit facility, available amount			$ 1,250
Number of possible increases in margin | increase			2
Effective interest rate			7.18%
Change in control, trigger percentage			50%
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%
SOFR | Revolving Credit Facility
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	0.10%
SOFR | Minimum | Revolving Credit Facility
Line of Credit Facility [Abstract]
Coupon rate	0%
Applicable Margin | Revolving Credit Facility
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	1.75%
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%
Term Loan A | Term Loans
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%
Term Loan B | Term Loans
Line of Credit Facility [Abstract]
Maximum outstanding principal to trigger maturity			$ 250
Effective interest rate			7.68%
Quarterly principal payment percent			0.25%
Term Loan B | SOFR | Term Loans
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	0.10%
Term Loan B | SOFR | Minimum | Term Loans
Line of Credit Facility [Abstract]
Coupon rate	0%
Term Loan B | Applicable Margin | Term Loans
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	2.25%
Term Loan B | Base Rate | Term Loans
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)	1.25%
Term Loan B | LIBOR | Term Loans
Line of Credit Facility [Abstract]
Basis spread on variable interest rate (as a percent)		2.25%
Term Loan B | LIBOR | Minimum | Term Loans
Line of Credit Facility [Abstract]
Coupon rate		0%

Debt (Narrative - Senior Notes)

Debt (Narrative - Senior Notes) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2023 USD ($)
Senior Credit Facilities And Senior Notes
Debt Instrument [Line Items]
Net loss, amount free of restrictions	$ 959.4
Accumulated deficit, amount free of restrictions	$ 3,467.5
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%
Debt instrument redemption premium percentage, as a percentage of principal amount prepaid or redeemed	1%
Debt instrument, redemption period one | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100%
Debt instrument, redemption price, percentage of principal amount that may be redeemed, certain equity offerings	40%
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%
Change in Control | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101%
Certain Asset Disposition | 5.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument redemption price percentage	100%

Debt (Gain (Loss) on Extinguish

Debt (Gain (Loss) on Extinguishment of Debt) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Extinguishment of Debt [Line Items]
Gain on extinguishment of debt	$ 0	$ 3.4	$ 21.2	$ 2.1
Term Loan A
Extinguishment of Debt [Line Items]
Gain on extinguishment of debt	0	0	0	(1.3)
Senior Notes
Extinguishment of Debt [Line Items]
Gain on extinguishment of debt	$ 0	$ 3.4	$ 21.2	$ 3.4

Film Related Obligations (Compo

Film Related Obligations (Components) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Film Related Obligations [Abstract]
Production Loans	$ 1,198.9	$ 1,349.9
Production Tax Credit Facility	234.3	231.8
Programming Notes	67.9	83.6
Backlog Facility and Other	186.6	226
IP Credit Facility	124.8	143.8
Total film related obligations	1,812.5	2,035.1
Unamortized debt issuance costs	(10.7)	(11.5)
Total film related obligations, net	1,801.8	2,023.6
Less current portion	(1,259.5)	(1,007.2)
Total non-current film related obligations	$ 542.3	$ 1,016.4

Film Related Obligations (Narra

Film Related Obligations (Narrative) (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Production Loans	$ 1,198.9		$ 1,198.9	$ 1,349.9
Secured Debt
Production Loans	1,070.8		1,070.8
Unsecured Debt
Production Loans	$ 128.1		$ 128.1
Production Loans
Production loans or programming notes, weighted average interest rate	7.10%		7.10%
Programming Notes
Production loans or programming notes, weighted average interest rate	8.05%		8.05%
Production Tax Credit Facility | Revolving Credit Facility
Credit facility, maximum principal amount	$ 235		$ 235
Credit facility, available amount	$ 0.7		$ 0.7
Production Tax Credit Facility | Revolving Credit Facility | Base Rate
Basis spread on variable interest rate (as a percent)			0.50%
Production Tax Credit Facility | Revolving Credit Facility | SOFR
Effective interest rate	6.93%		6.93%
Production Tax Credit Facility | Revolving Credit Facility | SOFR | Minimum
Basis spread on variable interest rate (as a percent)			0.10%
Production Tax Credit Facility | Revolving Credit Facility | SOFR | Maximum
Basis spread on variable interest rate (as a percent)			0.25%
Production Tax Credit Facility | Revolving Credit Facility | Applicable Margin
Basis spread on variable interest rate (as a percent)			1.50%
Backlog Facility | Revolving Credit Facility
Debt Instrument, Term			2 years 90 days
Backlog Facility | Revolving Credit Facility | SOFR | Minimum
Basis spread on variable interest rate (as a percent)			0.10%
Backlog Facility | Revolving Credit Facility | SOFR | Maximum
Basis spread on variable interest rate (as a percent)			0.25%
Backlog Facility | Revolving Credit Facility | Applicable Margin | Minimum
Basis spread on variable interest rate (as a percent)			1.25%
Backlog Facility | Revolving Credit Facility | Applicable Margin | Maximum
Basis spread on variable interest rate (as a percent)			1.50%
Backlog Facility | Secured Debt
Credit facility, maximum principal amount	$ 175		$ 175
Credit Facility, outstanding amount	175		175	175
Credit facility, available amount	$ 0		$ 0
Backlog Facility | Secured Debt | SOFR
Effective interest rate	6.58%		6.58%
Backlog Facility | Secured Debt | Applicable Margin
Basis spread on variable interest rate (as a percent)			1.15%
IP Credit Facility | Secured Debt
Credit facility, maximum principal amount	$ 161.9		$ 161.9
IP Credit Facility | Secured Debt | Base Rate
Basis spread on variable interest rate (as a percent)			1.25%
IP Credit Facility | Secured Debt | SOFR
Effective interest rate	7.81%		7.81%
IP Credit Facility | Secured Debt | SOFR | Minimum
Basis spread on variable interest rate (as a percent)			0.11%
Floor on SOFR (as a percent)	0.25%		0.25%
IP Credit Facility | Secured Debt | SOFR | Maximum
Basis spread on variable interest rate (as a percent)			0.26%
IP Credit Facility | Secured Debt | Applicable Margin
Basis spread on variable interest rate (as a percent)			2.25%
Distribution Loan Agreement | Loans Payable
Loan amount	$ 11.6		$ 11.6
Distribution Agreement Loan One | Loans Payable
Loan amount						$ 118.6
Distribution Agreement Loan Two | Loans Payable
Loan amount					$ 43.4
Distribution Agreement Loan Two | SOFR | Loans Payable
Basis spread on variable interest rate (as a percent)			0.11%
Distribution Agreement Loan Two | Applicable Margin | Loans Payable
Basis spread on variable interest rate (as a percent)			1.50%
Distribution Agreement Loan Three | Loans Payable
Credit facility, maximum principal amount	18.7		$ 18.7
Loan amount	$ 11.6		$ 11.6	$ 16.2
Distribution Agreement Loan Three | SOFR | Loans Payable
Basis spread on variable interest rate (as a percent)			0.11%
Effective interest rate	7.54%
Distribution Agreement Loan Three | Applicable Margin | Loans Payable
Basis spread on variable interest rate (as a percent)			2.10%
The June 2023 Distribution Loan | Loans Payable
Loan amount		$ 158.1
The June 2023 Distribution Loan, Tranche One | Loans Payable
Loan amount		$ 110
The June 2023 Distribution Loan, Tranche One | SOFR | Loans Payable
Basis spread on variable interest rate (as a percent)		1.50%
The June 2023 Distribution Loan, Tranche Two | Loans Payable
Loan amount		$ 48.1
The June 2023 Distribution Loan, Tranche Two | SOFR | Loans Payable
Basis spread on variable interest rate (as a percent)		1.40%

Film Related Obligations - Cumu

Film Related Obligations - Cumulative Minimum Guaranteed Payments of IP Credit Facility (Details) - Secured Debt - IP Credit Facility $ in Millions	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
November 14, 2023	$ 30.4
November 14, 2024	60.7
November 14, 2025	91.1
November 14, 2026	121.4
July 30, 2027	$ 161.9

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, 2023	Mar. 31, 2023
Assets:
Interest rate swaps	$ 57.4	$ 41.1
Other Non-Current Assets
Assets:
Interest rate swaps	57.4	41.1
Fair Value, Measurements, Recurring
Assets:
Forward exchange contracts	0.1	2.9
Interest rate swaps	57.4	41.1
Liabilities:
Forward exchange contracts	(0.5)	(0.1)
Fair Value, Measurements, Recurring | Level 1
Assets:
Forward exchange contracts	0	0
Interest rate swaps	0	0
Liabilities:
Forward exchange contracts	0	0
Fair Value, Measurements, Recurring | Level 2
Assets:
Forward exchange contracts	0.1	2.9
Interest rate swaps	57.4	41.1
Liabilities:
Forward exchange contracts	$ (0.5)	$ (0.1)

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, 2023	Mar. 31, 2023
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%
Carrying Value | Term Loans | 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	$ 411.5	$ 424.2
Carrying Value | Term Loans | 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	822	827.2
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 and Programming Notes, fair value disclosure	695.1	776
Carrying Value | Production Loans | Production 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	1,193.8	1,346.1
Carrying Value | Secured Debt | Backlog Facility and Other
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]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	185.2	223.7
Carrying Value | Secured Debt | IP Credit Facility
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]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	122.2	140.8
Carrying Value | Programming Notes | Programming 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 and Programming Notes, fair value disclosure	67.9	83.6
Carrying Value | Line of Credit | Production Tax Credit Facility
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]
Production Tax Credit Facility, fair value disclosure	232.7	229.4
Fair Value | Fair Value (Level 2) | Term Loans | 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	412.8	415.4
Fair Value | Fair Value (Level 2) | Term Loans | 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	824.4	817.1
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 and Programming Notes, fair value disclosure	475.5	510
Fair Value | Fair Value (Level 2) | Production Loans | Production 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	1,198.9	1,349.9
Fair Value | Fair Value (Level 2) | Secured Debt | Backlog Facility and Other
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]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	186.6	226
Fair Value | Fair Value (Level 2) | Secured Debt | IP Credit Facility
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]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	124.8	143.8
Fair Value | Fair Value (Level 2) | Programming Notes | Programming 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 and Programming Notes, fair value disclosure	67.9	83.6
Fair Value | Fair Value (Level 2) | Line of Credit | Production Tax Credit Facility
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]
Production Tax Credit Facility, fair value disclosure	$ 234.3	$ 231.8

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Millions		6 Months Ended
	Nov. 12, 2024	Sep. 30, 2023	May 29, 2018
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
Deferred compensation arrangements			$ 38.3
Contingency period		5 years
Forecast
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling Interest, Call Period	30 days
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
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 Interest, Ownership Percentage by Noncontrolling Owners		12.50%
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49%

Noncontrolling Interests (Chang

Noncontrolling Interests (Changes In Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 343.6	$ 321.2
Net loss attributable to redeemable noncontrolling interests	(3.3)	(6.1)
Noncontrolling interests discount accretion	0	10
Adjustments to redemption value	71	20.6
Cash distributions	(0.6)	(2.5)
Purchase of noncontrolling interest	(0.6)	0
Ending balance	$ 410.1	$ 343.2

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 1,015.5	$ 875.2	$ 1,924.1	$ 1,769.1
Operating segments | Motion Picture
Disaggregation of Revenue [Line Items]
Revenues	395.9	224	802.5	502.8
Operating segments | Motion Picture | Theatrical
Disaggregation of Revenue [Line Items]
Revenues	28.2	6	94.1	16.9
Operating segments | Motion Picture | Digital Media
Disaggregation of Revenue [Line Items]
Revenues	165.7	101.9	339.8	231.1
Operating segments | Motion Picture | Packaged Media
Disaggregation of Revenue [Line Items]
Revenues	16.1	13.9	42	36
Operating segments | Motion Picture | Home Entertainment
Disaggregation of Revenue [Line Items]
Revenues	181.8	115.8	381.8	267.1
Operating segments | Motion Picture | Television
Disaggregation of Revenue [Line Items]
Revenues	100.8	51.7	149.3	100
Operating segments | Motion Picture | International
Disaggregation of Revenue [Line Items]
Revenues	79.7	45.5	160.7	111.2
Operating segments | Motion Picture | Other
Disaggregation of Revenue [Line Items]
Revenues	5.4	5	16.6	7.6
Operating segments | Television Production
Disaggregation of Revenue [Line Items]
Revenues	393.9	430.9	612.4	863.2
Operating segments | Television Production | Television
Disaggregation of Revenue [Line Items]
Revenues	221.8	294.2	371.9	595.6
Operating segments | Television Production | Digital Media
Disaggregation of Revenue [Line Items]
Revenues	84.2	42.6	96	73.9
Operating segments | Television Production | Packaged Media
Disaggregation of Revenue [Line Items]
Revenues	0.3	0.5	0.7	1.4
Operating segments | Television Production | Home Entertainment
Disaggregation of Revenue [Line Items]
Revenues	84.5	43.1	96.7	75.3
Operating segments | Television Production | International
Disaggregation of Revenue [Line Items]
Revenues	73.6	74.4	105.6	153.7
Operating segments | Television Production | Other
Disaggregation of Revenue [Line Items]
Revenues	14	19.2	38.2	38.6
Operating segments | Media Networks
Disaggregation of Revenue [Line Items]
Revenues	416.5	396.1	797.6	777.3
Operating segments | Media Networks | Programming
Disaggregation of Revenue [Line Items]
Revenues	416.5	396.1	797.6	777.3
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(190.8)	(175.8)	(288.4)	(374.2)
Intersegment Eliminations | Motion Picture
Disaggregation of Revenue [Line Items]
Revenues	(60.5)	(10.2)	(77.1)	(13.7)
Intersegment Eliminations | Television Production
Disaggregation of Revenue [Line Items]
Revenues	(130.3)	(165.6)	(211.3)	(360.5)
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	339.8	357.5	677.2	707.1
International | Operating segments | Media Networks | Programming
Disaggregation of Revenue [Line Items]
Revenues	$ 76.7	$ 38.6	$ 120.4	$ 70.2

Revenue (Remaining Performance

Revenue (Remaining Performance Obligations - Timing) (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 1,759.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	1,759.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 699.2
Remaining Performance Obligations, performance period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	6 months
Remaining Performance Obligations	$ 699.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 588.5
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	1 year
Remaining Performance Obligations	$ 588.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 363.6
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period	1 year
Remaining Performance Obligations	$ 363.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligations	$ 108.3
Remaining Performance Obligations, performance period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations, performance period
Remaining Performance Obligations	$ 108.3

Revenue (Provision for Doubtful

Revenue (Provision for Doubtful Accounts) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2023 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 9.2
(Benefit) provision for doubtful accounts	0.1
Uncollectible accounts written-off(1)	(3.4)
Ending Balance	$ 5.9

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized in period from performance obligations satisfied in previous period	$ 65.1	$ 172
Revenues recognized	$ 23.5	$ 109.8

Net Loss Per Share (Basic and D

Net Loss Per Share (Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss attributable to Lions Gate Entertainment Corp. shareholders	$ (886.2)	$ (1,811.1)	$ (956.9)	$ (1,930.1)
Denominator:
Weighted average common shares outstanding, basic (in shares)	234	227.9	232.1	226.8
Weighted average common shares outstanding, diluted (in shares)	234	227.9	232.1	226.8
Basic net loss per common share (in usd per share)	$ (3.79)	$ (7.95)	$ (4.12)	$ (8.51)
Diluted net loss per common share (in usd per share)	$ (3.79)	$ (7.95)	$ (4.12)	$ (8.51)

Net Loss Per Share (Anti-Diluti

Net Loss Per Share (Anti-Dilutive Shares Issuable) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares excluded from calculation of diluted earnings per share due to net loss (in shares)	1	2.4	3.3	3.1
Anti-dilutive shares issuable (in shares)	31.1	28.1	26.1	25.4
Share purchase options
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	20.4	23.7	18.7	21.7
Restricted Share Units (RSUs)
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	6.6	1.8	3.4	1
Other issuable shares
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	4.1	2.6	4	2.7

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended		196 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchases of common shares, value	$ 0	$ 0	$ 0	$ 0	$ 288.1
Share repurchase program, remaining authorized repurchase amount	$ 179.9		$ 179.9		$ 179.9
Class A Voting Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized common shares (in shares)	500		500		500	500
Class B Non-Voting Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized common shares (in shares)	500		500		500	500

Capital Stock (Common Shares Re

Capital Stock (Common Shares Reserved for Future Issuance) (Details) - shares shares in Millions	Sep. 30, 2023	Mar. 31, 2023
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	42.6	50.2
Stock Options and SARs
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	20.8	24.8
Restricted Stock and Restricted Share Units - Unvested
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	13.6	14
Common shares available for future issuance
Common Shares Reserved For Future Issuance [Line Items]
Shares reserved for future issuance (in shares)	8.2	11.4

Capital Stock (Share-Based Comp

Capital Stock (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 26	$ 26.6	$ 41.9	$ 34.4
Impact of accelerated vesting on equity awards	1.1	0	1.6	0.6
Total share-based compensation expense	27.1	26.6	43.5	35
Stock Options
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	0.5	2.3	1.4	4
Restricted Share Units and Other Share-based Compensation
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	25	23.2	39.3	28.9
Share Appreciation Rights (SARs)
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 0.5	$ 1.1	$ 1.2	$ 1.5

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 27.1	$ 26.6	$ 43.5	$ 35
Direct operating
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	0.9	0.6	1.4	0.8
Distribution and marketing
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	0.3	0.2	0.4	0.4
General and administration
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	24.8	25.8	40.1	33.2
Restructuring and other
Share-Based Compensation Expense [Line Items]
Share-based compensation expense	$ 1.1	$ 0	$ 1.6	$ 0.6

Capital Stock (Stock Option, SA

Capital Stock (Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity) (Details) shares in Millions	6 Months Ended
	Sep. 30, 2023 $ / shares shares
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, 2023 (in shares)	4.3
Granted (in shares)	0
Options exercised (in shares)	0
Forfeited or expired (in shares)	(1.8)
Outstanding at September 30. 2023 (in shares)	2.5
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at March 31, 2023, weighted average exercise price (in usd per share) | $ / shares	$ 26.35
Granted, weighted average exercise price (in usd per share) | $ / shares	0
Options exercised, weighted average exercise price (in usd per share) | $ / shares	7.70
Forfeited or expired, weighted average exercise price (in usd per share) | $ / shares	30.79
Outstanding at September 30, 2023, weighted average exercise price (in usd per share) | $ / shares	$ 22.99
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, 2023 (in shares)	0
Granted (in shares)	0
Vested (in shares)	0
Forfeited or expired (in shares)	0
Outstanding at September 30, 2023 (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, 2023, weighted average grant-date fair value (in usd per share) | $ / shares	$ 10.95
Granted, weighted average grant date fair value (in usd per share) | $ / shares	0
Restricted stock or RSUs vested, weighted average grant-date fair value (in usd per share) | $ / shares	10.89
Forfeited or expired, weighted average grant-date fair value (in usd per share) | $ / shares	0
Outstanding at September 30, 2023, weighted average grant-date fair value (in usd per share) | $ / shares	$ 11.01
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, 2023 (in shares)	20.5
Granted (in shares)	0
Options exercised (in shares)	(0.1)
Forfeited or expired (in shares)	(2.1)
Outstanding at September 30. 2023 (in shares)	18.3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at March 31, 2023, weighted average exercise price (in usd per share) | $ / shares	$ 15.23
Granted, weighted average exercise price (in usd per share) | $ / shares	0
Options exercised, weighted average exercise price (in usd per share) | $ / shares	7.15
Forfeited or expired, weighted average exercise price (in usd per share) | $ / shares	29.19
Outstanding at September 30, 2023, weighted average exercise price (in usd per share) | $ / shares	$ 13.82
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, 2023 (in shares)	14
Granted (in shares)	9.2
Vested (in shares)	(9.1)
Forfeited or expired (in shares)	(0.5)
Outstanding at September 30, 2023 (in shares)	13.6
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, 2023, weighted average grant-date fair value (in usd per share) | $ / shares	$ 9.48
Granted, weighted average grant date fair value (in usd per share) | $ / shares	8.19
Restricted stock or RSUs vested, weighted average grant-date fair value (in usd per share) | $ / shares	9.33
Forfeited or expired, weighted average grant-date fair value (in usd per share) | $ / shares	8.77
Outstanding at September 30, 2023, weighted average grant-date fair value (in usd per share) | $ / shares	$ 8.73
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)	(0.1)
Forfeited or expired (in shares)	(0.1)
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, 2023 (in shares)	0.1
Outstanding at September 30, 2023 (in shares)	0.1
Maximum | Class B Non-Voting Shares | Stock Options and SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	0.1

Restructuring and Other (Restru

Restructuring and Other (Restructuring and Other) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		18 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 222.1	$ 233.2	$ 254	$ 241.3
Total restructuring and other and other unusual charges not included in restructuring and other	221.5	234.3	253.6	241.4
Insurance recoveries	0.6	6.9	0.6	7.9
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring initiative, expected cost remaining	80		80		$ 80
Restructuring initiative, expected future cash outlay	130		130		130
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring initiative, expected cost remaining	160		160		160
Restructuring initiative, expected future cash outlay	190		190		190
Direct operating expense
Restructuring Cost and Reserve [Line Items]
Content charges	0	7.2	0	7.2
COVID-19 related charges (benefit) included in direct operating expense	(0.6)	(6.1)	(0.4)	(7.1)
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other	5.8	9.6	10.6	13
Severance | Cash
Restructuring Cost and Reserve [Line Items]
Restructuring and other	4.7	9.6	9	12.4
Severance | Accelerated vesting on equity awards
Restructuring Cost and Reserve [Line Items]
Restructuring and other	1.1	0	1.6	0.6
COVID-19 related charges
Restructuring Cost and Reserve [Line Items]
Restructuring and other	0	0	0	0.1
Transaction and other costs
Restructuring Cost and Reserve [Line Items]
Restructuring and other	4.7	4.8	3.9	9.4
Transaction and other costs (benefits), migration benefits
Restructuring Cost and Reserve [Line Items]
Restructuring and other			3.8
Content and other impairments
Restructuring Cost and Reserve [Line Items]
Restructuring and other	211.6	218.8	239.5	218.8
Operating Lease, Impairment Loss		5.8		5.8
Content and other impairments | Media Networks
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 211.6	$ 213	$ 239.5	$ 213	$ 618.9

Restructuring and Other (Severa

Restructuring and Other (Severance Liability Rollforward) (Details) - Severance liability - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Restructuring and Other Severance Liability
Beginning balance	$ 8.7	$ 1.5
Accruals	9	12.4
Severance payments	(9.7)	(3.8)
Ending balance	8	$ 10.1
Accounts Payable and Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Remaining severance liability, expected to be paid in next 12 months	$ 8

Segment Information (Segment In

Segment Information (Segment Information) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable business segments | segment			3
Segment revenues	$ 1,015.5	$ 875.2	$ 1,924.1	$ 1,769.1
Gross contribution	237.3	129.7	421.1	214.9
Segment general and administration	63.8	57.5	131.7	114.6
Segment profit	173.5	72.2	289.4	100.3
Reportable Segments
Segment Reporting Information [Line Items]
Segment general and administration	63.8	57.5	131.7	114.6
Segment profit	173.5	72.2	289.4	100.3
Reportable Segments | Studio Business
Segment Reporting Information [Line Items]
Segment revenues	789.8	654.9	1,414.9	1,366
Gross contribution	171.7	102.5	305.9	206.1
Segment general and administration	41	33.4	83.1	67
Segment profit	130.7	69.1	222.8	139.1
Reportable Segments | Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	395.9	224	802.5	502.8
Gross contribution	94.2	78.7	192.9	151.8
Segment general and administration	26.7	23.2	56.1	45.7
Segment profit	67.5	55.5	136.8	106.1
Reportable Segments | Television Production
Segment Reporting Information [Line Items]
Segment revenues	393.9	430.9	612.4	863.2
Gross contribution	77.5	23.8	113	54.3
Segment general and administration	14.3	10.2	27	21.3
Segment profit	63.2	13.6	86	33
Reportable Segments | Media Networks
Segment Reporting Information [Line Items]
Segment revenues	416.5	396.1	797.6	777.3
Gross contribution	89.4	45.1	147.1	31.6
Segment general and administration	22.8	24.1	48.6	47.6
Segment profit	66.6	21	98.5	(16)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Segment revenues	(190.8)	(175.8)	(288.4)	(374.2)
Gross contribution	(23.8)	(17.9)	(31.9)	(22.8)
Segment profit	(23.8)	(17.9)	(31.9)	(22.8)
Intersegment Eliminations | Studio Business
Segment Reporting Information [Line Items]
Segment revenues	(190.8)	(175.8)	(288.4)	(374.2)
Intersegment Eliminations | Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	(60.5)	(10.2)	(77.1)	(13.7)
Intersegment Eliminations | Television Production
Segment Reporting Information [Line Items]
Segment revenues	(130.3)	(165.6)	(211.3)	(360.5)
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 Loss Before Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Company’s total segment profit	$ 173.5	$ 72.2	$ 289.4	$ 100.3
Adjusted depreciation and amortization	(9.9)	(9.7)	(19.9)	(19.7)
Restructuring and other	(222.1)	(233.2)	(254)	(241.3)
Goodwill and intangible asset impairment	(663.9)	(1,475)	(663.9)	(1,475)
Adjusted share-based compensation expense	(26)	(26.6)	(41.9)	(34.4)
Operating loss	(817.5)	(1,747.6)	(834.3)	(1,815.9)
Interest expense	(63.8)	(57.3)	(125.8)	(103.4)
Interest and other income	2.7	1.8	4.7	3.1
Other expense	(11.5)	(5.4)	(17.2)	(10.4)
Gain on extinguishment of debt	0	3.4	21.2	2.1
Loss on investments, net	(1.6)	(3.1)	(1.7)	(1.3)
Equity interests income (loss)	1.8	(0.1)	1.5	0.8
Loss before income taxes	(889.9)	(1,808.3)	(951.6)	(1,925)
Operating segments
Segment Reporting Information [Line Items]
Company’s total segment profit	173.5	72.2	289.4	100.3
Corporate
Segment Reporting Information [Line Items]
Corporate general and administrative expenses	(32.8)	(24.8)	(63.1)	(47.9)
Corporate and reconciling items
Segment Reporting Information [Line Items]
Adjusted depreciation and amortization	(9.9)	(9.7)	(19.9)	(19.7)
Restructuring and other	(222.1)	(233.2)	(254)	(241.3)
Goodwill and intangible asset impairment	(663.9)	(1,475)	(663.9)	(1,475)
COVID-19 related (charges) benefit included in direct operating expense	0.6	6.1	0.4	7.1
Content charges	0	(7.2)	0	(7.2)
Adjusted share-based compensation expense	(26)	(26.6)	(41.9)	(34.4)
Purchase accounting and related adjustments	$ (36.9)	$ (49.4)	$ (81.3)	$ (97.8)

Segment Information (Adjusted D

Segment Information (Adjusted Depreciation and Amortization) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ 44.6	$ 45.2	$ 89	$ 87.6
Adjusted depreciation and amortization	9.9	9.7	19.9	19.7
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted depreciation and amortization	9.9	9.7	19.9	19.7
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	$ (34.7)	$ (35.5)	$ (69.1)	$ (67.9)

Segment Information (Adjusted S

Segment Information (Adjusted Share-Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	$ 27.1	$ 26.6	$ 43.5	$ 35
Amount included in restructuring and other	(1.1)	0	(1.6)	(0.6)
Adjusted share-based compensation expense	26	26.6	41.9	34.4
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted share-based compensation expense	26	26.6	41.9	34.4
General and administrative expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	24.8	25.8	40.1	33.2
Restructuring and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Share-based compensation expense	1.1	0	1.6	0.6
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	$ 1.1	$ 0	$ 1.6	$ 0.6

Segment Information (Purchase A

Segment Information (Purchase Accounting and Related Adjustments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Corporate and reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	$ 36.9	$ 49.4	$ 81.3	$ 97.8
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	0.7	0	0.7
General and administrative expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments	2.2	13.2	12.2	29.2
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	2.2	13.2	12.2	29.2
Amortization of recoupable portion of the purchase price	0	1.9	1.3	3.8
Noncontrolling interest discount amortization	0	5	0	10
Noncontrolling equity interest in distributable earnings	2.2	6.3	10.9	15.4
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	$ 34.7	$ 35.5	$ 69.1	$ 67.9

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	$ 63.8	$ 57.5	$ 131.7	$ 114.6
General and administration	123.6	121.3	247.1	224.9
Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	63.8	57.5	131.7	114.6
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Corporate general and administrative expenses	32.8	24.8	63.1	47.9
Corporate and reconciling items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	36.9	49.4	81.3	97.8
General and administrative expense
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	2.2	13.2	12.2	29.2
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	24.8	25.8	40.1	33.2
Purchase accounting and related adjustments	$ 2.2	$ 13.2	$ 12.2	$ 29.2

Segment Information (Reconcil_3

Segment Information (Reconciliation of Total Assets By Segment to Consolidated Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 6,179.4	$ 7,426.2
Operating segments | Motion Picture
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,695.8	1,759.4
Operating segments | Television Production
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,789.3	1,949.1
Operating segments | Media Networks
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,149	3,120.8
Other unallocated assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 545.3	$ 596.9

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	6 Months Ended
	May 31, 2022	May 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Derivative [Line Items]
Remaining maturity of forward foreign exchange contracts, maximum			23 months
Unrealized gains in AOCI at time of termination			$ 218.8	$ (847.4)	$ (728.2)	$ (786)	$ (2,604.7)	$ (2,683.4)
Foreign currency cash flow hedge gains estimated to be reclassified into earnings during next 12 months			(0.5)
Reduction of asset value of derivative	$ 188.7		0	(188.7)
Interest rate swap cash flow hedge gain estimated to be reclassified into earnings during next 12 months			35.8
Net Cash Provided by (Used in) Operating Activities			330.3	(139.4)
Net Cash Provided by (Used in) Financing Activities			341.9	$ (395.9)
Interest rate swaps
Derivative [Line Items]
Proceeds from terminated swaps	56.4
Reduction of debt host	131.3	$ (3.2)
Net Cash Provided by (Used in) Operating Activities	188.7
Net Cash Provided by (Used in) Financing Activities	134.5
Interest rate swaps | Accumulated Gain (Loss), Net, Cash Flow Hedge Discontinued, Including Noncontrolling Interest
Derivative [Line Items]
Unrealized gains in AOCI at time of termination	180.4	180.4
Interest rate swaps | Designated as Hedging Instrument
Derivative [Line Items]
US Dollar Amount or Notional Amount			1,700			1,700
Derivative Liability	$ 6.8	$ 6.8
Interest rate swaps | Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018 | Designated as Hedging Instrument
Derivative [Line Items]
US Dollar Amount or Notional Amount			$ 300			$ 300

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Forward Foreign Exchange Contracts) (Details) - Forward exchange contracts € in Millions, £ in Millions, R in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	Sep. 30, 2023 GBP (£)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CZK (Kč)	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 AUD ($)	Sep. 30, 2023 HUF (Ft)	Sep. 30, 2023 MXN ($)	Sep. 30, 2023 ZAR (R)
British Pounds Sterling
Derivative [Line Items]
US Dollar Amount or Notional Amount	£ 0.1	$ 0.1
Weighted average exchange rate per $1 USD	0.84	0.84	0.84	0.84	0.84	0.84	0.84	0.84	0.84
Czech Republic, Koruna
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 7.2	Kč 180
Weighted average exchange rate per $1 USD	23	23	23	23	23	23	23	23	23
Euro Member Countries, Euro
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 20.8		€ 19.8
Weighted average exchange rate per $1 USD	0.92	0.92	0.92	0.92	0.92	0.92	0.92	0.92	0.92
Canada, Dollars
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 12.2			$ 16.3
Weighted average exchange rate per $1 USD	1.34	1.34	1.34	1.34	1.34	1.34	1.34	1.34	1.34
Australia, Dollars
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 0.1				$ 0.1
Weighted average exchange rate per $1 USD	1.54	1.54	1.54	1.54	1.54	1.54	1.54	1.54	1.54
Hungary, Forint
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 0					Ft 0.7
Weighted average exchange rate per $1 USD	367.20	367.20	367.20	367.20	367.20	367.20	367.20	367.20	367.20
Mexico, Pesos
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 2.5						$ 51.6
Weighted average exchange rate per $1 USD	20.38	20.38	20.38	20.38	20.38	20.38	20.38	20.38	20.38
South Africa, Rand
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 1.8							R 35.1
Weighted average exchange rate per $1 USD	19.07	19.07	19.07	19.07	19.07	19.07	19.07	19.07	19.07

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Interest Rate Swaps) (Details) - Designated as Hedging Instrument - Interest rate swaps - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Derivative [Line Items]
Notional amount	$ 1,700	$ 1,700
Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional amount	$ 300	$ 300
Fixed Rate Paid or Received	2.915%	2.915%
Interest Rate Swap 2, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional amount	$ 700	$ 700
Fixed Rate Paid or Received	2.915%	2.915%
Interest Rate Swap, Fixed Rate Paid 2.723%, Effective Date June 25, 2018
Derivative [Line Items]
Notional amount	$ 200	$ 200
Fixed Rate Paid or Received	2.723%	2.723%
Interest Rate Swap, Fixed Rate Paid 2.885%, Effective Date July 31, 2018
Derivative [Line Items]
Notional amount	$ 300	$ 300
Fixed Rate Paid or Received	2.885%	2.885%
Interest Rate Swap, Fixed Rate Paid 2.744%, Effective Date December 24, 2018
Derivative [Line Items]
Notional amount	$ 50	$ 50
Fixed Rate Paid or Received	2.744%	2.744%
Interest Rate Swap, Fixed Rate Paid 2.808%, Effective Date December 24, 2018
Derivative [Line Items]
Notional amount	$ 100	$ 100
Fixed Rate Paid or Received	2.808%	2.808%
Interest Rate Swap, Fixed Rate Paid 2.728%, Effective Date December 24, 2018
Derivative [Line Items]
Notional amount	$ 50	$ 50
Fixed Rate Paid or Received	2.728%	2.728%

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities (Derivatives Effect on Statement of Operations and Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total direct operating expense on consolidated statements of operations	$ 557.1	$ 563.5	$ 1,038.3	$ 1,160
Total interest expense on consolidated statements of operations	63.8	57.3	125.8	103.4
Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss	(0.6)	2.1	(3.1)	1.7
Gain (loss) reclassified from accumulated other comprehensive loss	(0.4)	0.8	0.1	(0.1)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive loss	9.3	44.6	36.4	81.3
Gain (loss) reclassified from accumulated other comprehensive loss	10.9	(3.2)	20.1	(9.2)
Loss reclassified from accumulated other comprehensive income (loss) into interest expense	$ (1.8)	$ (2.2)	$ (3.8)	$ (7.8)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities (Derivatives by Balance Sheet Location) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023	May 31, 2022
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 57.4	$ 41.1
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0.1	2.9
Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	57.4	41.1
Other Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0.5	0.1
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0	0
Designated as Hedging Instrument | Forward exchange contracts | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset	0.1	2.9
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 | Other Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability	0.5	0.1
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
Derivatives, Fair Value [Line Items]
Derivative Liability			$ 6.8
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	57.4	41.1
Designated as Hedging Instrument | Interest rate swaps | Other 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	$ 0	$ 0

Additional Financial Informat_3

Additional Financial Information (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Additional Financial Information [Abstract]
Cash and cash equivalents	$ 223.6	$ 272.1
Restricted cash included in other current assets	31	27.9
Restricted cash included in other non-current assets	14.6	13
Total cash, cash equivalents and restricted cash	$ 269.2	$ 313	$ 599.4	$ 384.6

Additional Financial Informat_4

Additional Financial Information (Other Assets and Other Accrued Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Other current assets
Prepaid expenses and other	$ 53.1	$ 43.3
Restricted cash	31	27.9
Contract assets	35.5	63.5
Tax credits receivable	186.2	129.5
Other current assets	305.8	264.2
Other non-current assets
Prepaid expenses and other	12.5	8.4
Restricted cash	14.6	13
Accounts receivable	30.2	37.8
Contract assets	7.9	5.1
Tax credits receivable	313.2	341.7
Operating lease right-of-use assets	149.7	169
Interest rate swaps	57.4	41.1
Other non-current assets	585.5	616.1
Employee-related liabilities	$ 102.4	$ 128.7

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
	Oct. 02, 2023	Dec. 31, 2019	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
Individual Monetization Agreements
Transfer of Financial Assets Accounted for as Sales [Line Items]
Net cash proceeds received or (paid or to be paid)			$ 408.3	$ 328.3	$ 744.9	$ 662
Carrying value of receivables transferred and derecognized			418.7	333.5	760	670.8
Loss recorded related to transfers of receivables			10.4	5.2	15.1	8.8
Derecognized accounts receivable for which the Company continues to service, amount outstanding			586.5		586.5		$ 520.4
Pooled Monetization Agreements
Transfer of Financial Assets Accounted for as Sales [Line Items]
Gross cash proceeds received for receivables transferred and derecognized			16.3	37.9	22.2	98.7
Less amounts from collections reinvested under revolving agreement			(6.2)	(26)	(9.1)	(50.1)
Proceeds from new transfers			10.1	11.9	13.1	48.6
Collections not reinvested and remitted or to be remitted			(9)	(7)	(13.4)	(23.8)
Net cash proceeds received or (paid or to be paid)			1.1	4.9	(0.3)	24.8
Carrying value of receivables transferred and derecognized			16.3	37.8	22.1	96.9
Obligations recorded			1	0.4	2.1	3.4
Loss recorded related to transfers of receivables			1	$ 0.3	2	1.6
Derecognized accounts receivable for which the Company continues to service, amount outstanding			46		46		$ 52.3
Revolving agreement, maximum amount of receivables allowed to transfer		$ 100
Accounts receivable pledged as collateral under pooled monetization agreement			$ 60.1		$ 60.1
Purchases of receivables previously transferred						$ 20.9
Pooled Monetization Agreements | Subsequent Event
Transfer of Financial Assets Accounted for as Sales [Line Items]
Purchases of receivables previously transferred	$ 46

Additional Financial Informat_6

Additional Financial Information (Accumulated Other Comprehensive Income) (Details) - USD ($)	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 786,000,000	$ 2,683,400,000
Ending balance	(218,800,000)	847,400,000
Income tax expense (benefit) reflected in other comprehensive income (loss)	0	0
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(21,600,000)	(19,700,000)
Other comprehensive income (loss)	(1,400,000)	(7,100,000)
Reclassifications to net loss	0	0
Ending balance	(23,000,000)	(26,800,000)
Net unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	142,500,000	49,000,000
Other comprehensive income (loss)	33,300,000	83,000,000
Reclassifications to net loss	(16,400,000)	17,100,000
Ending balance	159,400,000	149,100,000
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	(100,000)	100,000
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	(16,300,000)	17,000,000
Accumulated other comprehensive income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	120,900,000	29,300,000
Other comprehensive income (loss)	31,900,000	75,900,000
Reclassifications to net loss	(16,400,000)	17,100,000
Ending balance	$ 136,400,000	$ 122,300,000