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Additional Financial Information (Tables) | 12 Months Ended
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Mar. 31, 2023
Additional Financial Information [Abstract] |
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet to the total amounts reported in the consolidated statement of cash flows at March 31, 2023. At March 31, 2023, restricted cash included in other current assets represents primarily amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility, IP Credit Facility and Backlog Facility.
|  | March 31, 2023 |  | March 31, 2022
|  | (Amounts in millions)
Cash and cash equivalents |  | $ | 272.1 |  |  | $ | 371.2 |
Restricted cash included in other current assets |  | 27.9 |  |  | 13.4 |
Restricted cash included in other non-current assets |  | 13.0 |  |  | — |
Total cash, cash equivalents and restricted cash |  | $ | 313.0 |  |  | $ | 384.6 |
Summary of Receivables Transferred | The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the years ended March 31, 2023, 2022 and 2021:
| Year Ended
| March 31,
| 2023 |  | 2022 |  | 2021
| (Amounts in millions)
Carrying value of receivables transferred and derecognized | $ | 1,405.9 |  |  | $ | 1,400.2 |  |  | $ | 1,377.2 |
Net cash proceeds received | 1,382.7 |  |  | 1,391.2 |  |  | 1,371.3 |
Loss recorded related to transfers of receivables | 23.2 |  |  | 9.0 |  |  | 5.9 |
The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the years ended March 31, 2023, 2022 and 2021:
| Year Ended
| March 31,
| 2023 |  | 2022 |  | 2021
| (Amounts in millions)
Gross cash proceeds received for receivables transferred and derecognized | $ | 167.0 |  |  | $ | 155.5 |  |  | $ | 173.1 |
Less amounts from collections reinvested under revolving agreement | (94.3) |  |  | (102.7) |  |  | (138.7) |
Proceeds from new transfers | 72.7 |  |  | 52.8 |  |  | 34.4 |
Collections not reinvested and remitted or to be remitted | (66.6) |  |  | (46.8) |  |  | (27.9) |
Net cash proceeds received (paid or to be paid)(1) | $ | 6.1 |  |  | $ | 6.0 |  |  | $ | 6.5 |
Carrying value of receivables transferred and derecognized (2) | $ | 164.8 |  |  | $ | 154.5 |  |  | $ | 172.0 |
Obligations recorded | $ | 5.9 |  |  | $ | 2.9 |  |  | $ | 1.9 |
Loss recorded related to transfers of receivables | $ | 3.7 |  |  | $ | 1.9 |  |  | $ | 0.8 |
___________________ (1)In addition, during the years ended March 31, 2023 and 2022, the Company repurchased $27.4 million and $25.5 million, respectively, of receivables previously transferred, as separately agreed upon with the third-party purchasers, in order to monetize such receivables under the individual monetization program discussed above without being subject to the collateral requirements under the pooled monetization program. (2)Receivables net of unamortized discounts on long-term, non-interest bearing receivables.
Schedule of Other Assets | The composition of the Company’s other assets is as follows as of March 31, 2023 and March 31, 2022:
| March 31, 2023 |  | March 31, 2022
| (Amounts in millions)
Other current assets |  |  |
Prepaid expenses and other(1) | $ | 43.3 |  |  | $ | 62.5 |
Restricted cash | 27.9 |  |  | 13.4 |
Contract assets | 63.5 |  |  | 40.5 |
Tax credits receivable | 129.5 |  |  | 128.3 |
| $ | 264.2 |  |  | $ | 244.7 |
Other non-current assets |  |  |
Prepaid expenses and other | $ | 8.4 |  |  | $ | 10.5 |
Restricted cash | 13.0 |  |  | — |
Accounts receivable(2) | 37.8 |  |  | 39.0 |
Contract assets(2) | 5.1 |  |  | 9.3 |
Tax credits receivable | 341.7 |  |  | 316.1 |
Operating lease right-of-use assets | 169.0 |  |  | 170.7 |
Interest rate swap assets | 41.1 |  |  | 32.0 |
| $ | 616.1 |  |  | $ | 577.6 |
_____________________ (1)Includes home entertainment product inventory which consists of Packaged Media and is stated at the lower of cost or market value (first-in, first-out method). Costs of Packaged Media sales, including shipping and handling costs, are included in distribution and marketing expenses. (2)Unamortized discounts on long-term, non-interest bearing receivables were $3.5 million and $1.8 million at March 31, 2023 and 2022, respectively, and unamortized discounts on contract assets were $0.5 million and $0.5 million at March 31, 2023 and 2022.
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in the components of accumulated other comprehensive income (loss), net of tax. During the years ended March 31, 2023, 2022 and 2021, there was no income tax expense or benefit reflected in other comprehensive income (loss) due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance.
| Foreign currency translation adjustments |  |  |  | Net unrealized gain (loss) on cash flow hedges |  | Total
| (Amounts in millions)
March 31, 2020 | $ | (18.8) |  |  |  |  | $ | (187.2) |  |  | $ | (206.0) |
Other comprehensive loss | 3.7 |  |  |  |  | 70.9 |  |  | 74.6 |
Reclassifications to net loss(1) | — |  |  |  |  | 48.1 |  |  | 48.1 |
March 31, 2021 | (15.1) |  |  |  |  | (68.2) |  |  | (83.3) |
Other comprehensive income | (4.6) |  |  |  |  | 68.2 |  |  | 63.6 |
Reclassifications to net loss(1) | — |  |  |  |  | 49.0 |  |  | 49.0 |
March 31, 2022 | (19.7) |  |  |  |  | 49.0 |  |  | 29.3 |
Other comprehensive income (loss) | (1.9) |  |  |  |  | 82.8 |  |  | 80.9 |
Reclassifications to net loss(1) | — |  |  |  |  | 10.7 |  |  | 10.7 |
March 31, 2023 | $ | (21.6) |  |  |  |  | $ | 142.5 |  |  | $ | 120.9 |
___________________ (1)Represents a loss of $0.3 million included in direct operating expense and a loss of $10.4 million included in interest expense on the consolidated statement of operations in the year ended March 31, 2023 (2022 - loss of $0.2 million included in direct operating expense and loss of $48.8 million included in interest expense; 2021 - gain of $0.2 million included in direct operating expense and loss of $48.3 million included in interest expense) (see Note 18).
Supplemental Schedule of Non-Cash Investing and Financing Activities | The supplemental schedule of non-cash investing and financing activities is presented below:
| Year Ended March 31,
| 2023 |  | 2022 |  | 2021
| (Amounts in millions)
Non-cash investing activities: |  |  |  |  |
Accrued equity method investment | $ | — |  |  | $ | 19.0 |  |  | $ | —
Cash consideration receivable for sale of Pantaya (see Note 2) | $ | — |  |  | $ | — |  |  | $ | 123.6
Decrease in finance lease right-of-use asset due to a reassessment event(1) | n/a |  | n/a |  | $ | (42.0)
Non-cash financing activities: |  |  |  |  |
Decrease in finance lease liability due to a reassessment event(1) | n/a |  | n/a |  | $ | (48.6)
______________ (1)During the year ended March 31, 2021, the Company reassessed the lease term of the Starz commercial building, which resulted in a change in classification of this lease from a finance lease to an operating lease.
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows:
|  |  | Year Ended
|  |  | March 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
|  |  |  |  | (Amounts in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  |  |  | $ | 42.3 |  |  | $ | 57.0 |  |  | $ | 48.8 |
Operating cash flows for finance leases |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 1.6 |
Financing cash flows for finance leases |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 2.6 |
Right-of-use assets obtained in exchange for new lease obligations: |  |  |  |  |  |  |  |  |
Operating leases |  |  |  |  | $ | 12.4 |  |  | $ | 67.8 |  |  | $ | 25.0 |
Increase in right-of-use assets and lease liability due to a reassessment event: |  |  |  |  |  |  |  |  |
Operating leases - increase in right-of-use assets |  |  |  |  | $ | 33.0 |  |  | $ | 27.5 |  |  | $ | 6.0 |
Operating leases - increase in lease liability |  |  |  |  | $ | 33.0 |  |  | $ | 27.5 |  |  | $ | 12.6 |

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