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Leases | 12 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
Leases | Leases The Company has operating leases primarily for office space, studio facilities, and other equipment. The Company's leases have remaining lease terms of up to approximately 12.25 years. The components of lease cost were as follows:
| Year Ended
| March 31,
| 2024 |  | 2023 |  | 2022
| (Amounts in millions)
Operating lease cost(1) | $ | 61.4 |  |  | $ | 48.4 |  |  | $ | 54.9 |
Short-term lease cost(2) | 96.2 |  |  | 145.0 |  |  | 233.1 |
Variable lease cost(3) | 3.4 |  |  | 3.1 |  |  | 1.4 |
Total lease cost | $ | 161.0 |  |  | $ | 196.5 |  |  | $ | 289.4 |
___________________ (1)Operating lease cost amounts primarily represent the amortization of right-of-use assets and are included in the “other amortization” line of the consolidated statements of cash flows. Amounts include costs capitalized during the period for leased assets used in the production of film and television programs. (2)Short-term lease cost primarily consists of leases of facilities and equipment associated with film and television productions and are capitalized when incurred. (3)Variable lease cost primarily consists of insurance, taxes, maintenance and other operating costs. Supplemental balance sheet information related to leases was as follows:
Category |  | Balance Sheet Location |  | March 31, 2024 |  | March 31, 2023
Operating Leases |  |  |  | (Amounts in millions)
Right-of-use assets |  | Other assets - non-current |  | $ | 388.8 |  |  | 169.0 |
Lease liabilities (current) |  | Other accrued liabilities |  | $ | 53.4 |  |  | 47.4 |
Lease liabilities (non-current) |  | Other liabilities - non-current |  | 385.1 |  |  | 159.2 |
|  |  |  | $ | 438.5 |  |  | 206.6 |
| March 31, 2024 |  | March 31, 2023
Weighted average remaining lease term (in years): |  |  |
Operating leases | 9.0 |  | 5.6
Weighted average discount rate: |  |  |
Operating leases | 5.24 | % |  | 3.81 | %
The expected future payments relating to the Company's lease liabilities at March 31, 2024 are as follows:
| Operating Leases |  |
| (Amounts in millions)
Year ending March 31, |  |  |
2025 | $ | 74.1 |  |  |
2026 | 67.9 |  |  |
2027 | 61.7 |  |  |
2028 | 61.6 |  |  |
2029 | 51.5 |  |  |
Thereafter | 240.8 |  |  |
Total lease payments | 557.6 |  |  |
Less imputed interest | (119.1) |  |  |
Total | $ | 438.5 |  |  |
As of March 31, 2024, the Company has entered into certain leases that have not yet commenced primarily related to studio facilities, for which construction related to those leases has not yet been completed. The leases are for terms up to 12.25 years, commencing upon completion of construction (currently expected to be ranging from calendar years 2025 to 2026). The leases include an option to extend the initial term for an additional 10 years to 12 years. The total minimum lease payments under these leases in aggregate are approximately $250.9 million.
Leases | Leases The Company has operating leases primarily for office space, studio facilities, and other equipment. The Company's leases have remaining lease terms of up to approximately 12.25 years. The components of lease cost were as follows:
| Year Ended
| March 31,
| 2024 |  | 2023 |  | 2022
| (Amounts in millions)
Operating lease cost(1) | $ | 61.4 |  |  | $ | 48.4 |  |  | $ | 54.9 |
Short-term lease cost(2) | 96.2 |  |  | 145.0 |  |  | 233.1 |
Variable lease cost(3) | 3.4 |  |  | 3.1 |  |  | 1.4 |
Total lease cost | $ | 161.0 |  |  | $ | 196.5 |  |  | $ | 289.4 |
___________________ (1)Operating lease cost amounts primarily represent the amortization of right-of-use assets and are included in the “other amortization” line of the consolidated statements of cash flows. Amounts include costs capitalized during the period for leased assets used in the production of film and television programs. (2)Short-term lease cost primarily consists of leases of facilities and equipment associated with film and television productions and are capitalized when incurred. (3)Variable lease cost primarily consists of insurance, taxes, maintenance and other operating costs. Supplemental balance sheet information related to leases was as follows:
Category |  | Balance Sheet Location |  | March 31, 2024 |  | March 31, 2023
Operating Leases |  |  |  | (Amounts in millions)
Right-of-use assets |  | Other assets - non-current |  | $ | 388.8 |  |  | 169.0 |
Lease liabilities (current) |  | Other accrued liabilities |  | $ | 53.4 |  |  | 47.4 |
Lease liabilities (non-current) |  | Other liabilities - non-current |  | 385.1 |  |  | 159.2 |
|  |  |  | $ | 438.5 |  |  | 206.6 |
| March 31, 2024 |  | March 31, 2023
Weighted average remaining lease term (in years): |  |  |
Operating leases | 9.0 |  | 5.6
Weighted average discount rate: |  |  |
Operating leases | 5.24 | % |  | 3.81 | %
The expected future payments relating to the Company's lease liabilities at March 31, 2024 are as follows:
| Operating Leases |  |
| (Amounts in millions)
Year ending March 31, |  |  |
2025 | $ | 74.1 |  |  |
2026 | 67.9 |  |  |
2027 | 61.7 |  |  |
2028 | 61.6 |  |  |
2029 | 51.5 |  |  |
Thereafter | 240.8 |  |  |
Total lease payments | 557.6 |  |  |
Less imputed interest | (119.1) |  |  |
Total | $ | 438.5 |  |  |
As of March 31, 2024, the Company has entered into certain leases that have not yet commenced primarily related to studio facilities, for which construction related to those leases has not yet been completed. The leases are for terms up to 12.25 years, commencing upon completion of construction (currently expected to be ranging from calendar years 2025 to 2026). The leases include an option to extend the initial term for an additional 10 years to 12 years. The total minimum lease payments under these leases in aggregate are approximately $250.9 million.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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