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Description of Business, Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Useful Lives and Depreciation Methods of Property and Equipment

Depreciation is provided for on a straight line basis over the following useful lives:

Distribution equipment		1 — 4 years
Computer equipment and software		2 — 5 years
Furniture and equipment		2 — 10 years
Leasehold improvements		Lease term or the useful life, whichever is shorter
Building		26 years
Land		Not depreciated

Basic Net Income (Loss) Per Common Share

Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. Basic net income (loss) per share for the years ended March 31, 2019, 2018 and 2017 is presented below:

		Year Ended March 31,
		2019				2018				2017
		(Amounts in millions, except per share amounts)
Basic Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders		$	(284.2	)		$	473.6			$	14.8
Denominator:
Weighted average common shares outstanding		213.7				208.4				165.0
Basic net income (loss) per common share		$	(1.33	)		$	2.27			$	0.09

Diluted Net Income (Loss) Per Common Share

Diluted net income (loss) per common share for the years ended March 31, 2019, 2018 and 2017 is presented below:

		Year Ended March 31,
		2019				2018				2017
		(Amounts in millions, except per share amounts)
Diluted Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders		$	(284.2	)		$	473.6			$	14.8
Add:
Interest on convertible notes, net of tax		—				0.5				—
Numerator for diluted net income (loss) per common share		$	(284.2	)		$	474.1			$	14.8
Denominator:
Weighted average common shares outstanding		213.7				208.4				165.0
Effect of dilutive securities:
Conversion of notes		—				2.1				—
Share purchase options		—				7.5				3.5
Restricted share units and restricted stock		—				0.7				0.3
Contingently issuable shares		—				1.7				3.4
Adjusted weighted average common shares outstanding		213.7				220.4				172.2
Diluted net income (loss) per common share		$	(1.33	)		$	2.15			$	0.09

Anti-dilutive Shares Issuable

Additionally, for the years ended March 31, 2019, 2018 and 2017, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect regardless of net income or loss in the period.

	Year Ended
	March 31,
	2019			2018			2017
	(Amounts in millions)
Anti-dilutive shares issuable
Conversion of notes	—			—			5.2
Share purchase options	21.3			11.5			12.1
Restricted share units	1.0			0.2			0.6
Other issuable shares	1.4			1.2			1.2
Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share	23.7			12.9			19.1

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Changes to the opening balances of current assets, total assets, current liabilities and total liabilities resulting from the adoption of the new guidance were as follows:

		March 31, 2018				Impact of Adoption				April 1, 2018
		(Amounts in millions)
Current assets		$	1,773.1			$	174.4			$	1,947.5
Total assets		$	8,967.6			$	143.6			$	9,111.2
Current liabilities		$	2,412.4			$	104.1			$	2,516.5
Total liabilities		$	5,708.9			$	124.9			$	5,833.8

The following table presents the line items impacted by the adoption of the new revenue recognition guidance (described in Note 1) on the consolidated balance sheet and statement of operations:

		March 31, 2019
		As Reported				Impact of Adoption				Without Adoption of New Revenue Guidance
Balance Sheet Information:		(Amounts in millions)
Assets
Accounts receivable, net - current		$	647.2			$	(6.2	)		$	641.0
Other assets - current		267.2				(97.3		)		169.9
Other assets - non-current		436.1				(0.5		)		435.6
Investment in films and television programs and program rights, net		1,672.0				37.3				1,709.3
Liabilities
Accounts payable and accrued liabilities		531.2				(58.7		)		472.5
Participations and residuals - current		408.5				1.9				410.4
Deferred revenue - current		146.5				(0.6		)		145.9
Deferred revenue - non-current		62.8				0.8				63.6
Deferred tax liabilities		56.5				(1.9		)		54.6
Equity
Retained earnings		208.7				(8.2		)		200.5

		Year Ended March 31, 2019
		As Reported				Impact of Adoption				Without Adoption of New Revenue Guidance
Statement of Operations Information:		(Amounts in millions)
Revenues		$	3,680.5			$	44.9			$	3,725.4
Direct operating		2,028.2				31.0				2,059.2
Operating income		130.0				13.9				143.9
Interest and other income		12.0				—				12.0
Loss before income taxes		(308.1		)		13.9				(294.2		)
Income tax benefit		8.5				(3.4		)		5.1
Net loss		(299.6		)		10.5				(289.1		)

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