Leases (Tables)

12 Months Ended

Mar. 31, 2021

The components of lease cost were as follows:


	Year Ended
	March 31,
	2021		2020
	(Amounts in millions)
Operating lease cost(1)	$	45.1	$	35.3

Finance lease cost
Amortization of right-of-use assets	2.6		3.0
Interest on lease liabilities	1.6		3.4
Total finance lease cost	4.2		6.4

Short-term lease cost(1)(2)	129.5		93.3
Variable lease cost(3)	2.6		2.5
Total lease cost	$	181.4	$	137.5

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(1)Amounts include costs capitalized during the period for leased assets used in the production of film and television programs. Operating lease cost amounts primarily represent the amortization of right-of-use assets and are included in the “other amortization” line of the consolidated statement of cash flows.

(2)Short-term lease cost primarily consists of leases of facilities and equipment associated with film and television productions.

(3)Variable lease cost primarily consists of insurance, taxes, maintenance and other operating costs.


	March 31, 2021		March 31, 2020
Weighted average remaining lease term (in years):
Operating leases	5.1		6.1
Finance leases	—		21.6

Weighted average discount rate:
Operating leases	3.88	%	4.10	%
Finance leases	—		6.40	%

Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:


Category	Balance Sheet Location	March 31, 2021		March 31, 2020
Operating Leases		(Amounts in millions)
Right-of-use assets	Other assets - non-current	$	127.0	136.9

Lease liabilities (current)	Accounts payable and accrued liabilities	$	41.4	35.3
Lease liabilities (non-current)	Other liabilities - non-current	119.9		129.6
		$	161.3	164.9
Finance Leases
Right-of-use assets	Property and equipment, net	$	—	46.4

Lease liabilities (current)	Debt - short-term portion	$	—	3.0
Lease liabilities (non-current)	Debt - non-current	—		39.4
		$	—	42.4

Maturity of Operating Lease Liabilities

The expected future payments relating to the Company's operating lease liabilities at March 31, 2021 are as follows (no finance lease liabilities outstanding at March 31, 2021):


	Operating Leases
	(Amounts in millions)
Year ending March 31,
2022	$	47.6
2023	41.1
2024	25.8
2025	15.0
2026	15.4
Thereafter	34.0
Total lease payments	178.9
Less imputed interest	(17.6)
Total	$	161.3