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Capital Stock | 6 Months Ended
--- | ---
Sep. 30, 2019
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, 2019 and March 31, 2019. The table below outlines common shares reserved for future issuance:
| September 30, 2019 |  | March 31, 2019
| (Amounts in millions)
Stock options and equity-settled SARs outstanding | 38.9 |  |  | 34.6 |
Restricted stock and restricted share units — unvested | 4.1 |  |  | 2.0 |
Common shares available for future issuance | 8.2 |  |  | 6.7 |
Shares reserved for future issuance | 51.2 |  |  | 43.3 |
(b) Share-based Compensation The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2019, and 2018:
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (Amounts in millions)
Compensation Expense: |  |  |  |  |  |  |
Stock options | $ | 5.2 |  |  | $ | 6.7 |  |  | $ | 8.8 |  |  | $ | 13.5 |
Restricted share units and other share-based compensation | 8.5 |  |  | 7.2 |  |  | 13.3 |  |  | 13.9 |
Share appreciation rights | 0.8 |  |  | 1.2 |  |  | 1.7 |  |  | 2.8 |
| 14.5 |  |  | 15.1 |  |  | 23.8 |  |  | 30.2 |
Impact of accelerated vesting on equity awards(1) | — |  |  | — |  |  | 0.3 |  |  | — |
Total share-based compensation expense | $ | 14.5 |  |  | $ | 15.1 |  |  | $ | 24.1 |  |  | $ | 30.2 |
Tax impact(2) | (3.1 | ) |  | (3.4 | ) |  | (5.1 | ) |  | (6.9 | )
Reduction in net income | $ | 11.4 |  |  | $ | 11.7 |  |  | $ | 19.0 |  |  | $ | 23.3 |
___________________
(1) | Represents the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements.
(2) | Represents the income tax benefit recognized in the statements of operations for share-based compensation arrangements.
Share-based compensation expense, by expense category, consisted of the following:
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (Amounts in millions)
Share-Based Compensation Expense: |  |  |  |  |  |  |
Direct operating | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.4 |  |  | $ | 0.5 |
Distribution and marketing | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.1 |
General and administration | 14.1 |  |  | 14.7 |  |  | 23.2 |  |  | 29.6 |
Restructuring and other | — |  |  | — |  |  | 0.3 |  |  | — |
| $ | 14.5 |  |  | $ | 15.1 |  |  | $ | 24.1 |  |  | $ | 30.2 |
The following table sets forth the stock option, equity-settled SARs, cash-settled SARs, restricted stock and restricted share unit activity during the six months ended September 30, 2019:
| Stock Options, Equity-settled and Cash-settled 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, 2019 | 8.4 |  |  | $26.70 |  | 26.2 |  |  | $20.72 |  | 0.1 |  |  | $25.68 |  | 1.9 |  |  | $24.24
Granted | — |  |  | — |  |  | 7.1 |  | (2) | $12.44 |  | — |  | (1) | $11.01 |  | 2.8 |  |  | $12.45
Options exercised or restricted stock or RSUs vested | — |  |  | — |  |  | (0.1 | ) |  | $10.50 |  | (0.1 | ) |  | $26.24 |  | (0.4 | ) |  | $23.34
Forfeited or expired | (0.9 | ) |  | $30.41 |  | (1.8 | ) |  | $25.49 |  | — |  | (1) | $19.58 |  | (0.2 | ) |  | $22.44
Outstanding at September 30, 2019 | 7.5 |  |  | $26.28 |  | 31.4 |  |  | $18.57 |  | — |  | (1) | $15.33 |  | 4.1 |  |  | $16.51
__________________
(1) | Represents less than 0.1 million shares.
(2) | During the six months ended September 30, 2019, the Company granted 3.3 million cash-settled share-appreciation rights ("CSARs"). The CSARs are revalued each reporting period until settlement using a closed-form option pricing model (Black Scholes).
(c) Other In connection with an amendment of an affiliation agreement with a customer and effective upon the close of the Starz merger (December 8, 2016), Lionsgate agreed to issue to the customer three $16.67 million annual installments of equity (or cash at the Company's election). The total value of the contract of $50 million was amortized as a reduction of revenue over the period from December 8, 2016 to August 31, 2019. During the year ended March 31, 2019, Lionsgate issued to the customer 0.4 million Class A voting shares valued at $8.3 million and 0.5 million Class B voting shares valued at $8.3 million (2018 - 0.3 million Class A voting shares valued at $8.3 million and 0.3 million Class B non-voting shares valued at $8.3 million).

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- Definition Equity and Share-based Compensation [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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