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Net Income (Loss) Per Share | 9 Months Ended
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Dec. 31, 2023
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, 2023 and 2022 is presented below:
| Three Months Ended |  | Nine Months Ended
| December 31, |  | December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (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 | $ | (106.6) |  |  | $ | 16.6 |  |  | $ | (1,063.5) |  |  | $ | (1,913.5) |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding | 235.1 |  |  | 228.8 |  |  | 233.1 |  |  | 227.4 |
Basic net income (loss) per common share | $ | (0.45) |  |  | $ | 0.07 |  |  | $ | (4.56) |  |  | $ | (8.41) |
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, 2023 and 2022 is presented below:
| Three Months Ended |  | Nine Months Ended
| December 31, |  | December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (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 | $ | (106.6) |  |  | $ | 16.6 |  |  | $ | (1,063.5) |  |  | $ | (1,913.5) |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding | 235.1 |  |  | 228.8 |  |  | 233.1 |  |  | 227.4 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted share units and restricted stock | — |  |  | 1.3 |  |  | — |  |  | — |
Adjusted weighted average common shares outstanding | 235.1 |  |  | 230.1 |  |  | 233.1 |  |  | 227.4 |
Diluted net income (loss) per common share | $ | (0.45) |  |  | $ | 0.07 |  |  | $ | (4.56) |  |  | $ | (8.41) |
As a result of the net loss in the three and nine months ended December 31, 2023 and the nine months ended December 31, 2022, 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 three and nine months ended December 31, 2023 totaled 1.6 million and 2.7 million, respectively (nine months ended December 31, 2022 - 2.5 million). Additionally, for the three and nine months ended December 31, 2023 and 2022, the outstanding common shares issuable presented below were excluded from diluted net 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,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (Amounts in millions)
Anti-dilutive shares issuable |  |  |  |  |  |  |
Share purchase options | 16.8 |  |  | 25.2 |  |  | 18.0 |  |  | 22.8 |
Restricted share units | 0.6 |  |  | 5.6 |  |  | 2.5 |  |  | 2.5 |
Other issuable shares | 4.4 |  |  | 4.3 |  |  | 4.1 |  |  | 3.2 |
Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share | 21.8 |  |  | 35.1 |  |  | 24.6 |  |  | 28.5 |

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