XML 28 R46.htm IDEA: XBRL DOCUMENT v3.20.1

Capital Stock (Tables)

12 Months Ended

Mar. 31, 2020

Equity and Share-based Compensation [Abstract]

Common Shares Reserved For Future Issuance

The table below outlines common shares reserved for future issuance:

	March 31, 2020			March 31, 2019
	(Amounts in millions)
Stock options and equity-settled SARs outstanding	35.7			34.6
Restricted stock and restricted share units — unvested	3.7			2.0
Common shares available for future issuance	11.5			6.7
Shares reserved for future issuance	50.9			43.3

Dividends Declared

During the fiscal years ended March 31, 2019 and 2018, the Company's Board of Directors declared the following quarterly cash dividends:

		Dividends Declared Per Common Share		Total Amount				Payment Date
				(in millions)
Fiscal Year 2019:
Second quarter ended September 30, 2018		$0.09		$	19.3			November 8, 2018
First quarter ended June 30, 2018		$0.09		19.2				August 9, 2018
Total cash dividends declared in fiscal year 2019		$0.18		$	38.5
Fiscal Year 2018:
Fourth quarter ended March 31, 2018		$0.09		$	19.1			May 1, 2018

Share-Based Compensation Expense

The Company recognized the following share-based compensation expense during the years ended March 31, 2020, 2019 and 2018:

	Year Ended
	March 31,
	2020				2019				2018
	(Amounts in millions)
Compensation Expense:
Stock options	$	17.8			$	23.0			$	43.1
Restricted share units and other share-based compensation	29.1				24.7				36.2
Share appreciation rights	3.1				4.4				6.3
	50.0				52.1				85.6
Impact of accelerated vesting on equity awards(1)	0.6				16.0				2.9
Total share-based compensation expense	$	50.6			$	68.1			$	88.5
Tax impact(2)	(10.7		)		(15.7		)		(29.6		)
Reduction in net income	$	39.9			$	52.4			$	58.9

___________________

(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:

	Year Ended
	March 31,
	2020				2019				2018
	(Amounts in millions)
Compensation Expense:
Direct operating	$	1.0			$	1.1			$	1.1
Distribution and marketing	0.5				0.4				0.9
General and administration	48.5				50.6				83.6
Restructuring and other	0.6				16.0				2.9
	$	50.6			$	68.1			$	88.5

Stock Options Activity

The following table sets forth the stock option, equity-settled and cash-settled share appreciation rights activity during the year ended March 31, 2020:

	Stock Options, Equity-Settled and Cash-Settled SARs
	Class A Voting Shares												Class B Non-Voting Shares
	Number of Shares			Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value				Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(Amounts in millions, except for weighted-average exercise price and years)
Outstanding at March 31, 2019	8.4			$26.70									26.2			$20.72
Granted	—			—									7.8		(1)	$12.52
Exercised	—			—									(0.2	)		$9.99
Forfeited or expired	(1.2	)		$29.58									(5.3	)		$17.72
Outstanding at March 31, 2020	7.2			$26.21			4.27		$	—			28.5			$19.03		4.79		$	0.1
Vested or expected to vest at March 31, 2020	7.2			$26.21			4.27		$	—			28.1			$19.11		4.72		$	0.1
Exercisable at March 31, 2020	5.7			$27.15			3.79		$	—			17.3			$21.06		2.76		$	—

_____________________

(1)

During the year ended March 31, 2020, 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).

Stock Options Granted Valuation Assumptions

The following table presents the weighted average grant-date fair value of options granted in the years ended March 31, 2020, 2019 and 2018, and the weighted average applicable assumptions used in the Black-Scholes option-pricing model for stock options and share-appreciation rights granted during the years then ended:

	Year Ended March 31,
	2020		2019		2018
Weighted average fair value of grants	$2.08		$5.48		$8.38
Weighted average assumptions:
Risk-free interest rate(1)	0.2% - 2.5%		2.2% - 3.1%		1.7% - 2.7%
Expected option lives (in years)(2)	0.4 - 7 years		1 - 7 years		4 - 6 years
Expected volatility for options(3)	34% - 40%		34%		35%
Expected dividend yield(4)	0%		0.0% - 1.7%		0.0% - 1.5%

____________________________

(1) The risk-free rate assumed in valuing the options is based on the U.S. Treasury Yield curve in effect applied against the expected term of the option at the time of the grant.

(2) The expected term of options granted represents the period of time that options granted are expected to be outstanding.

(3) Expected volatilities are based on implied volatilities from traded options on the Company’s shares, historical volatility of the Company’s shares and other factors.

(4)

The expected dividend yield is estimated by dividing the expected annual dividend by the market price of the Company's shares at the date of grant.

Restricted Share Units Award Activity

The following table sets forth the restricted share unit and restricted stock activity during the year ended March 31, 2020:

	Restricted Share Units										Restricted Stock
	Class A Voting Shares			Weighted-Average Grant-Date Fair Value		Class B Non-Voting Shares			Weighted-Average Grant-Date Fair Value		Class B Non-Voting Shares			Weighted-Average Grant-Date Fair Value
	(Amounts in millions, except for weighted-average grant date fair value)
Outstanding at March 31, 2019	0.1			$25.68		1.6			$24.01		0.3			$25.70
Granted	—		(1)	$11.01		3.1			$11.93		—			—
Vested	(0.1	)		$25.93		(0.7	)		$23.61		(0.1	)		$25.70
Forfeited	—		(1)	$18.90		(0.3	)		$18.78		(0.1	)		$25.70
Outstanding at March 31, 2020	—		(1)	$14.89		3.7			$14.46		0.1			$25.70

__________________

(1)

Represents less than 0.1 million shares.

Unrecognized Compensation Cost, Nonvested Awards

The following table summarizes the total remaining unrecognized compensation cost as of March 31, 2020 related to non-vested stock options and restricted stock and restricted share units and the weighted average remaining years over which the cost will be recognized:

	Total Unrecognized Compensation Cost				Weighted Average Remaining Years
	(Amounts in millions)
Stock Options	$	34.7			2.2
Restricted Stock and Restricted Share Units	28.4				1.6
Total	$	63.1

X

- Definition

Common shares reserved for future issuance.

+ References

No definition available.

+ Details

Name:	lgfa_CommonSharesReservedForFutureIssuanceTableTextBlock
Namespace Prefix:	lgfa_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Equity and Share-based Compensation [Abstract]

+ References

No definition available.

+ Details

Name:	lgfa_EquityAndShareBasedCompensationAbstract
Namespace Prefix:	lgfa_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

+ References

No definition available.

+ Details

Name:	us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration