XML 61 R46.htm IDEA: XBRL DOCUMENT v3.22.1

Segment Information (Tables)

12 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

Segment information is presented in the table below:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Segment revenues
Studio Business:
Motion Picture			$	1,185.3					$	1,081.1					$	1,670.9
Television Production			1,531.0						831.8						1,001.3
Total Studio Business			2,716.3						1,912.9						2,672.2
Media Networks			1,536.2						1,562.7						1,486.8
Intersegment eliminations			(648.2)						(204.1)						(269.0)
			$	3,604.3					$	3,271.5					$	3,890.0
Intersegment revenues
Studio Business:
Motion Picture			$	38.0					$	19.8					$	17.7
Television Production			610.2						184.3						248.9
Total Studio Business			648.2						204.1						266.6
Media Networks			—						—						2.4
			$	648.2					$	204.1					$	269.0
Gross contribution
Studio Business:
Motion Picture			$	356.0					$	401.8					$	313.5
Television Production			124.1						126.3						90.7
Total Studio Business			480.1						528.1						404.2
Media Networks			243.2						383.4						380.5
Intersegment eliminations			(2.7)						(14.1)						6.8
			$	720.6					$	897.4					$	791.5
Segment general and administration
Studio Business:
Motion Picture			$	93.1					$	106.2					$	104.8
Television Production			40.2						42.7						37.3
Total Studio Business			133.3						148.9						142.1
Media Networks			88.0						93.9						87.5
			$	221.3					$	242.8					$	229.6
Segment profit
Studio Business:
Motion Picture			$	262.9					$	295.6					$	208.7
Television Production			83.9						83.6						53.4
Total Studio Business			346.8						379.2						262.1
Media Networks			155.2						289.5						293.0
Intersegment eliminations			(2.7)						(14.1)						6.8
			$	499.3					$	654.6					$	561.9

Reconciliation Of Total Segment Profit To The Company's Loss Before Income Taxes

The reconciliation of total segment profit to the Company’s loss before income taxes is as follows:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Company’s total segment profit			$	499.3					$	654.6					$	561.9
Corporate general and administrative expenses			(97.1)						(113.7)						(99.7)
Gain on sale of Pantaya(1)			—						44.1						—
Adjusted depreciation and amortization(2)			(43.0)						(44.3)						(41.8)
Restructuring and other(3)			(16.8)						(24.7)						(24.3)
COVID-19 related benefit (charges) included in direct operating expense and distribution and marketing expense(4)			3.4						(67.5)						(50.2)
Programming and content charges(5)			(36.9)						—						(76.5)
Charges related to Russia's invasion of Ukraine(6)			(5.9)						—						—
Adjusted share-based compensation expense(7)			(100.0)						(85.5)						(50.0)
Purchase accounting and related adjustments(8)			(194.0)						(192.4)						(216.6)
Operating income			9.0						170.6						2.8
Interest expense			(176.0)						(181.5)						(191.3)
Interest and other income			30.8						5.8						8.8
Other expense			(10.9)						(6.7)						(11.1)
Gain (loss) on extinguishment of debt			(28.2)						—						5.4
Gain (loss) on investments			1.3						0.5						(0.5)
Equity interests loss			(3.0)						(6.1)						(17.2)
Loss before income taxes			$	(177.0)					$	(17.4)					$	(203.1)

___________________

(1)Represents the gain before income taxes on the sale of the Company's majority interest in Pantaya on March 31, 2021. This gain amount is net of $69.0 million of goodwill allocated from the Media Networks segment as required under the applicable accounting guidance. Pantaya was previously reflected in the Company's Media Networks segment. See Note 2 for further information.

(2)Adjusted depreciation and amortization represents depreciation and amortization as presented on our consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Depreciation and amortization			$	177.9					$	188.5					$	197.7
Less: Amount included in purchase accounting and related adjustments			(134.9)						(144.2)						(155.9)
Adjusted depreciation and amortization			$	43.0					$	44.3					$	41.8

(3)Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable (see Note 15).

(4)In connection with the disruptions associated with the COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, during fiscal 2022, the Company has incurred a benefit of $3.4 million, net of insurance recoveries, in incremental direct operating and distribution and marketing expense (2021 - charges of $67.5 million; 2020 - charges of $50.2 million) (see Note 15). These charges are excluded from segment operating results.

(5)Programming and content charges represent certain charges included in direct operating expense in the consolidated statements of operations, and excluded from segment operating results (see Note 3 and Note 15 for further information).

(6)Amounts represent charges related to Russia's invasion of Ukraine, primarily related to bad debt reserves for accounts receivable from customers in Russia, included in direct operating expense in the consolidated statements of operations, and excluded from segment operating results.

(7)The following table reconciles total share-based compensation expense to adjusted share-based compensation expense:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Total share-based compensation expense			$	100.0					$	89.0					$	50.6
Less:
Amount included in restructuring and other(i)			—						(3.5)						(0.6)
Adjusted share-based compensation			$	100.0					$	85.5					$	50.0

(i)Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements.

(8)Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Purchase accounting and related adjustments:
Direct operating			$	0.4					$	1.0					$	8.1
General and administrative expense			58.7						47.2						52.6
Depreciation and amortization			134.9						144.2						155.9
			$	194.0					$	192.4					$	216.6

Reconciliation of Segment General and Administration to Consolidated General and Administration

The following table reconciles segment general and administration to the Company’s total consolidated general and administration expense:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
General and administration
Segment general and administrative expenses			$	221.3					$	242.8					$	229.6
Corporate general and administrative expenses			97.1						113.7						99.7
Share-based compensation expense included in general and administrative expense			98.3						82.9						48.5
Purchase accounting and related adjustments			58.7						47.2						52.6
			$	475.4					$	486.6					$	430.4

Reconciliation of Assets from Segment to Consolidated

The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:

			March 31, 2022						March 31, 2021
			(Amounts in millions)
Assets
Motion Picture			$	1,622.6					$	1,212.4
Television Production			1,978.9						1,757.9
Media Networks			4,706.7						4,399.3
Other unallocated assets(1)			683.0						936.6
			$	8,991.2					$	8,306.2

_____________________

(1)Other unallocated assets primarily consist of cash, other assets and investments.

Acquisition of Investment in Films and Television Programs and Program Rights by Segment

The following table sets forth acquisition of investment in films and television programs and program rights, as broken down by segment for the years ended March 31, 2022, 2021 and 2020:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Acquisition of investment in films and television programs and program rights
Motion Picture			$	465.0					$	339.8					$	349.8
Television Production			1,287.0						856.1						743.3
Media Networks			1,134.6						625.1						640.7
Intersegment eliminations			(674.9)						(204.3)						(188.5)
			$	2,211.7					$	1,616.7					$	1,545.3

Capital Expenditures By Segment

The following table sets forth capital expenditures, as broken down by segment for the years ended March 31, 2022, 2021 and 2020:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Capital expenditures
Motion Picture			$	—					$	—					$	—
Television Production			0.4						0.4						1.2
Media Networks			27.0						24.9						22.4
Corporate(1)			5.7						9.7						7.5
			$	33.1					$	35.0					$	31.1

_____________________

(1)Represents unallocated capital expenditures primarily related to the Company's corporate headquarters.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Revenue by geographic location, based on the location of the customers, with no other foreign country individually comprising greater than 10% of total revenue, is as follows:

			Year Ended
			March 31,
			2022						2021						2020
			(Amounts in millions)
Revenue
Canada			$	56.8					$	43.3					$	43.9
United States			3,016.8						2,863.3						3,321.9
Other foreign			530.7						364.9						524.2
			$	3,604.3					$	3,271.5					$	3,890.0

Long-lived assets by geographic location are as follows:

			March 31, 2022						March 31, 2021
			(Amounts in millions)
Long-lived assets(1)
United States			$	3,101.3					$	2,279.7
Other foreign			164.2						162.2
			$	3,265.5					$	2,441.9

_____________

(1)Long-lived assets represents total assets less the following: current assets, investments, long-term receivables, interest rate swaps, intangible assets, goodwill and deferred tax assets.

X

- Definition

Tabular disclosure of acquisition of investment in films and television programs for each reportable segment.

+ References

No definition available.

+ Details

Name:	lgfa_AcquisitionofInvestmentinFilmsbySegmentTableTextBlock
Namespace Prefix:	lgfa_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Capital Expenditures By Segment [Table Text Block]

+ References

No definition available.

+ Details

Name:	lgfa_CapitalExpendituresBySegmentTableTextBlock
Namespace Prefix:	lgfa_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

No definition available.

+ Details

Name:	lgfa_SegmentedInformationByBusinessUnitTableTextBlock
Namespace Prefix:	lgfa_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration