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Segment Information (Tables) | 6 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Segment Information By Business Unit | Segment information by business unit is presented in the table below. The Media Networks segment reflects the Starz network business from the date of acquisition (December 8, 2016), and the Lionsgate direct to consumer streaming services on SVOD platforms for the historical periods presented.
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Segment revenues |  |  |  |  |  |  |
Motion Pictures | $ | 385.7 |  |  | $ | 464.0 |  |  | $ | 858.0 |  |  | $ | 826.3 |
Television Production | 168.7 |  |  | 175.1 |  |  | 325.4 |  |  | 366.2 |
Media Networks | 393.4 |  |  | 0.4 |  |  | 783.9 |  |  | 0.6 |
Intersegment eliminations | (7.0 | ) |  | — |  |  | (21.2 | ) |  | — |
| $ | 940.8 |  |  | $ | 639.5 |  |  | $ | 1,946.1 |  |  | $ | 1,193.1 |
Intersegment revenues |  |  |  |  |  |  |
Motion Pictures | $ | 2.5 |  |  | $ | — |  |  | $ | 5.9 |  |  | $ | — |
Television Production | 4.5 |  |  | — |  |  | 15.0 |  |  | — |
Media Networks | — |  |  | — |  |  | 0.3 |  |  | — |
| $ | 7.0 |  |  | $ | — |  |  | $ | 21.2 |  |  | $ | — |
Gross contribution |  |  |  |  |  |  |
Motion Pictures | $ | 35.2 |  |  | $ | 19.5 |  |  | $ | 149.1 |  |  | $ | 75.9 |
Television Production | 19.2 |  |  | 19.9 |  |  | 40.7 |  |  | 37.1 |
Media Networks | 141.0 |  |  | (5.5 | ) |  | 276.1 |  |  | (12.4 | )
Intersegment eliminations | (0.1 | ) |  | — |  |  | (2.0 | ) |  | — |
| $ | 195.3 |  |  | $ | 33.9 |  |  | $ | 463.9 |  |  | $ | 100.6 |
Segment general and administration |  |  |  |  |  |  |
Motion Pictures | $ | 26.3 |  |  | $ | 24.5 |  |  | $ | 53.2 |  |  | $ | 49.1 |
Television Production | 10.6 |  |  | 8.4 |  |  | 19.7 |  |  | 16.0 |
Media Networks | 24.5 |  |  | 3.2 |  |  | 50.2 |  |  | 5.9 |
| $ | 61.4 |  |  | $ | 36.1 |  |  | $ | 123.1 |  |  | $ | 71.0 |
Segment profit (loss) |  |  |  |  |  |  |
Motion Pictures | $ | 8.9 |  |  | $ | (5.0 | ) |  | $ | 95.9 |  |  | $ | 26.8 |
Television Production | 8.6 |  |  | 11.5 |  |  | 21.0 |  |  | 21.1 |
Media Networks | 116.5 |  |  | (8.7 | ) |  | 225.9 |  |  | (18.3 | )
Intersegment eliminations | (0.1 | ) |  | — |  |  | (2.0 | ) |  | — |
| $ | 133.9 |  |  | $ | (2.2 | ) |  | $ | 340.8 |  |  | $ | 29.6 |
Reconciliation Of Total Segment Profit To The Company's Income (Loss) Before Income Taxes | The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows:
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Company’s total segment profit | $ | 133.9 |  |  | $ | (2.2 | ) |  | $ | 340.8 |  |  | $ | 29.6 |
Corporate general and administrative expenses | (25.3 | ) |  | (21.5 | ) |  | (50.7 | ) |  | (42.8 | )
Adjusted depreciation and amortization(1) | (9.3 | ) |  | (3.5 | ) |  | (19.4 | ) |  | (8.4 | )
Restructuring and other(2) | (3.5 | ) |  | (10.7 | ) |  | (14.4 | ) |  | (18.3 | )
Adjusted share-based compensation expense(3) | (23.6 | ) |  | (14.9 | ) |  | (47.4 | ) |  | (28.5 | )
Purchase accounting and related adjustments(4) | (41.8 | ) |  | (5.4 | ) |  | (88.8 | ) |  | (11.8 | )
Operating income (loss) | 30.4 |  |  | (58.2 | ) |  | 120.1 |  |  | (80.2 | )
Interest expense | (48.7 | ) |  | (15.9 | ) |  | (101.0 | ) |  | (31.1 | )
Interest and other income | 2.7 |  |  | 1.3 |  |  | 5.5 |  |  | 2.2 |
Loss on extinguishment of debt | (6.4 | ) |  | — |  |  | (18.0 | ) |  | — |
Equity interests income (loss) | (12.7 | ) |  | 1.9 |  |  | (21.0 | ) |  | 12.7 |
Gain on sale of equity interest in EPIX | — |  |  | — |  |  | 201.0 |  |  | — |
Income (loss) before income taxes | $ | (34.7 | ) |  | $ | (70.9 | ) |  | $ | 186.6 |  |  | $ | (96.4 | )
___________________
(1) | Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of income less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in the acquisition of Starz and Pilgrim Media Group 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Depreciation and amortization | $ | 39.3 |  |  | $ | 4.3 |  |  | $ | 79.3 |  |  | $ | 10.0 |
Less: Amount included in purchase accounting and related adjustments | (30.0 | ) |  | (0.8 | ) |  | (59.9 | ) |  | (1.6 | )
Adjusted depreciation and amortization | $ | 9.3 |  |  | $ | 3.5 |  |  | $ | 19.4 |  |  | $ | 8.4 |
(2) | Restructuring and other includes restructuring and severance costs, certain transaction related costs, and certain unusual items, when applicable (see Note 13).
(3) | 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Total share-based compensation expense | $ | 23.6 |  |  | $ | 24.0 |  |  | $ | 47.4 |  |  | $ | 46.2 |
Less: |  |  |  |  |  |  |
Bonus related share-based compensation included in segment and corporate general and administrative expense(i) | — |  |  | (6.7 | ) |  | — |  |  | (15.3 | )
Amount included in restructuring and other(ii) | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
Adjusted share-based compensation | $ | 23.6 |  |  | $ | 14.9 |  |  | $ | 47.4 |  |  | $ | 28.5 |
(i)Represents immediately vested stock awards granted as part of our annual bonus program issued in lieu of cash bonuses, which are, when granted, included in segment or corporate general and administrative expense. (ii)Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements.
(4) | Purchase accounting and related adjustments represent the amortization of non-cash fair value adjustments to certain assets acquired in the acquisition of Starz and Pilgrim Media Group. 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Purchase accounting and related adjustments: |  |  |  |  |  |  |
Direct operating | $ | 10.2 |  |  | $ | 3.3 |  |  | $ | 26.0 |  |  | $ | 7.7 |
General and administrative expense | 1.6 |  |  | 1.3 |  |  | 2.9 |  |  | 2.5 |
Depreciation and amortization | 30.0 |  |  | 0.8 |  |  | 59.9 |  |  | 1.6 |
| $ | 41.8 |  |  | $ | 5.4 |  |  | $ | 88.8 |  |  | $ | 11.8 |
Segment Revenues by Media or Product Line | The following table sets forth revenues by media or product line as broken down by segment for the three and six months ended September 30, 2017 and 2016:
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Segment revenues: |  |  |  |  |  |  |
Motion Pictures |  |  |  |  |  |  |
Theatrical | $ | 57.9 |  |  | $ | 62.0 |  |  | $ | 108.7 |  |  | $ | 109.2 |
Home Entertainment | 165.7 |  |  | 157.1 |  |  | 399.7 |  |  | 300.4 |
Television | 74.2 |  |  | 69.3 |  |  | 131.8 |  |  | 122.7 |
International | 79.9 |  |  | 168.3 |  |  | 202.3 |  |  | 282.0 |
Other | 8.0 |  |  | 7.3 |  |  | 15.5 |  |  | 12.0 |
Total Motion Pictures revenues | $ | 385.7 |  |  | $ | 464.0 |  |  | 858.0 |  |  | 826.3 |
Television Production |  |  |  |  |  |  |
Domestic Television | $ | 134.2 |  |  | $ | 154.4 |  |  | 262.4 |  |  | 307.4 |
International | 29.3 |  |  | 15.9 |  |  | 52.6 |  |  | 43.7 |
Home Entertainment | 3.0 |  |  | 3.2 |  |  | 6.5 |  |  | 10.0 |
Other | 2.2 |  |  | 1.6 |  |  | 3.9 |  |  | 5.1 |
Total Television Production revenues | $ | 168.7 |  |  | $ | 175.1 |  |  | 325.4 |  |  | 366.2 |
Media Networks |  |  |  |  |  |  |
Starz Networks | $ | 358.6 |  |  | $ | — |  |  | 701.8 |  |  | — |
Content and Other | 33.7 |  |  | — |  |  | 79.6 |  |  | — |
Streaming Services | 1.1 |  |  | 0.4 |  |  | 2.5 |  |  | 0.6 |
Total Media Networks revenues | $ | 393.4 |  |  | $ | 0.4 |  |  | 783.9 |  |  | 0.6 |
Intersegment eliminations | (7.0 | ) |  | — |  |  | (21.2 | ) |  | — |
Total revenues | $ | 940.8 |  |  | $ | 639.5 |  |  | $ | 1,946.1 |  |  | $ | 1,193.1 |
Adjusted Depreciation and Amortization | Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of income less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in the acquisition of Starz and Pilgrim Media Group 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Depreciation and amortization | $ | 39.3 |  |  | $ | 4.3 |  |  | $ | 79.3 |  |  | $ | 10.0 |
Less: Amount included in purchase accounting and related adjustments | (30.0 | ) |  | (0.8 | ) |  | (59.9 | ) |  | (1.6 | )
Adjusted depreciation and amortization | $ | 9.3 |  |  | $ | 3.5 |  |  | $ | 19.4 |  |  | $ | 8.4 |
Adjusted Share-Based Compensation | 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Total share-based compensation expense | $ | 23.6 |  |  | $ | 24.0 |  |  | $ | 47.4 |  |  | $ | 46.2 |
Less: |  |  |  |  |  |  |
Bonus related share-based compensation included in segment and corporate general and administrative expense(i) | — |  |  | (6.7 | ) |  | — |  |  | (15.3 | )
Amount included in restructuring and other(ii) | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
Adjusted share-based compensation | $ | 23.6 |  |  | $ | 14.9 |  |  | $ | 47.4 |  |  | $ | 28.5 |
(i)Represents immediately vested stock awards granted as part of our annual bonus program issued in lieu of cash bonuses, which are, when granted, included in segment or corporate general and administrative expense.
Purchase Accounting and Related Adjustments | Purchase accounting and related adjustments represent the amortization of non-cash fair value adjustments to certain assets acquired in the acquisition of Starz and Pilgrim Media Group. 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
Purchase accounting and related adjustments: |  |  |  |  |  |  |
Direct operating | $ | 10.2 |  |  | $ | 3.3 |  |  | $ | 26.0 |  |  | $ | 7.7 |
General and administrative expense | 1.6 |  |  | 1.3 |  |  | 2.9 |  |  | 2.5 |
Depreciation and amortization | 30.0 |  |  | 0.8 |  |  | 59.9 |  |  | 1.6 |
| $ | 41.8 |  |  | $ | 5.4 |  |  | $ | 88.8 |  |  | $ | 11.8 |
Reconciliation of Segment General and Administrative Expense to Consolidated | The following table reconciles segment general and administration to the Company's total consolidated general and administration expense:
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (Amounts in millions)
General and administration |  |  |  |  |  |  |
Segment general and administrative expenses | $ | 61.4 |  |  | $ | 36.1 |  |  | $ | 123.1 |  |  | $ | 71.0 |
Corporate general and administrative expenses | 25.3 |  |  | 21.5 |  |  | 50.7 |  |  | 42.8 |
Share-based compensation expense included in general and administrative expense | 23.2 |  |  | 14.9 |  |  | 46.5 |  |  | 28.5 |
Purchase accounting and related adjustments | 1.6 |  |  | 1.3 |  |  | 3.0 |  |  | 2.5 |
| $ | 111.5 |  |  | $ | 73.8 |  |  | $ | 223.3 |  |  | $ | 144.8 |
Reconciliation of Assets from Segment to Consolidated | The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:
| September 30, 2017 |  | March 31, 2017
| (Amounts in millions)
Assets |  |  |
Motion Pictures | $ | 1,702.8 |  |  | $ | 1,802.3 |
Television Production | 1,138.2 |  |  | 1,142.8 |
Media Networks | 5,295.8 |  |  | 5,443.9 |
Other unallocated assets(1) | 563.8 |  |  | 807.9 |
| $ | 8,700.6 |  |  | $ | 9,196.9 |
_____________________
(1) | Other unallocated assets primarily consist of cash, other assets and investments.

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