Net Income (Loss) Per Share

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



	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2018		2017		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	$	22.9	$	193.0	$	(129.0	)	$	382.3
Denominator:
Weighted average common shares outstanding	214.2		208.8		213.2			207.8
Basic net income (loss) per common share	$	0.11	$	0.92	$	(0.61	)	$	1.84

Diluted net income (loss) per common share reflects the potential dilutive effect, if any, of the conversion of convertible senior subordinated notes under the "if converted" method. Diluted net income (loss) per common share also reflects share purchase options, including equity-settled share appreciation rights ("SARs"), restricted share units ("RSUs") and restricted stock using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. Diluted net income (loss) per common share for the three and nine months ended December 31, 2018 and 2017 is presented below:



	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2018		2017		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	$	22.9	$	193.0	$	(129.0	)	$	382.3
Add:
Interest on convertible notes, net of tax	—		0.1		—			0.4
Numerator for diluted net income (loss) per common share	$	22.9	$	193.1	$	(129.0	)	$	382.7

Denominator:
Weighted average common shares outstanding	214.2		208.8		213.2			207.8
Effect of dilutive securities:
Conversion of notes	—		2.1		—			2.1
Share purchase options	3.3		8.4		—			7.5
Restricted share units and restricted stock	0.2		0.7		—			0.7
Contingently issuable shares	3.1		1.6		—			1.6
Adjusted weighted average common shares outstanding	220.8		221.6		213.2			219.7
Diluted net income (loss) per common share	$	0.10	$	0.87	$	(0.61	)	$	1.74

As a result of the net loss in the nine months ended December 31, 2018, the dilutive effect of the convertible notes, share purchase options, restricted share units and restricted stock, and contingently issuable shares were considered anti-dilutive and, therefore, excluded from diluted loss per share. Anti-dilutive shares excluded from the calculation for the nine months ended December 31, 2018 totaled 7.9 million.

For the three and nine months ended December 31, 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.



	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2018	2017	2018	2017
	(Amounts in millions)
Anti-dilutive shares issuable
Share purchase options	21.9	8.7	20.3	12.0
Restricted share units	1.3	0.2	0.9	0.2
Other issuable shares	2.9	1.1	2.5	1.2
Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share	26.1	10.0	23.7	13.4