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Net Income (Loss) Per Share

9 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. Basic net income (loss) per share for the three and nine months ended December 31, 2022 and 2021 is presented below:

			Three Months Ended												Nine Months Ended
			December 31,												December 31,
			2022						2021						2022						2021
			(Amounts in millions, except per share amounts)
Basic Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders			$	16.6					$	(45.6)					$	(1,913.5)					$	(83.5)
Denominator:
Weighted average common shares outstanding			228.8						225.0						227.4						223.7
Basic net income (loss) per common share			$	0.07					$	(0.20)					$	(8.41)					$	(0.37)

Diluted net income (loss) per common share reflects share purchase options, including share appreciation rights ("SARs"), restricted share units ("RSUs") and restricted stock using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. Diluted net income (loss) per common share for the three and nine months ended December 31, 2022 and 2021 is presented below:

			Three Months Ended												Nine Months Ended
			December 31,												December 31,
			2022						2021						2022						2021
			(Amounts in millions, except per share amounts)
Diluted Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders			$	16.6					$	(45.6)					$	(1,913.5)					$	(83.5)
Denominator:
Weighted average common shares outstanding			228.8						225.0						227.4						223.7
Effect of dilutive securities:
Share purchase options			—						—						—						—
Restricted share units and restricted stock			1.3						—						—						—
Adjusted weighted average common shares outstanding			230.1						225.0						227.4						223.7
Diluted net income (loss) per common share			$	0.07					$	(0.20)					$	(8.41)					$	(0.37)

As a result of the net loss in the nine months ended December 31, 2022 and the three and nine months ended December 31, 2021, the dilutive effect of the share purchase options, RSUs and restricted stock, and contingently issuable shares were considered anti-dilutive and, therefore, excluded from diluted net loss per share. The weighted average anti-dilutive shares excluded from the calculation due to the net loss for the nine months ended December 31, 2022 totaled 2.5 million (three and nine months ended December 31, 2021 - 4.5 million and 5.3 million, respectively).

Additionally, for the three and nine months ended December 31, 2022 and 2021, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect regardless of net income or loss in the period.

			Three Months Ended												Nine Months Ended
			December 31,												December 31,
			2022						2021						2022						2021
			(Amounts in millions)
Anti-dilutive shares issuable
Share purchase options			25.2						16.0						22.8						16.0
Restricted share units			5.6						—						2.5						0.6
Other issuable shares			4.3						2.3						3.2						2.1
Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share			35.1						18.3						28.5						18.7

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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