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Additional Financial Information (Tables) | 3 Months Ended
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Jun. 30, 2024
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 unaudited condensed consolidated balance sheets to the total amounts reported in the unaudited condensed consolidated statements of cash flows at June 30, 2024 and March 31, 2024. At June 30, 2024 and March 31, 2024, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility, IP Credit Facility, and Backlog Facility.
|  | June 30, 2024 |  | March 31, 2024
|  | (Amounts in millions)
Cash and cash equivalents |  | $ | 192.5 |  |  | $ | 314.0 |
Restricted cash included in other current assets |  | 36.6 |  |  | 43.7 |
Restricted cash included in other non-current assets |  | 12.8 |  |  | 13.7 |
Total cash, cash equivalents and restricted cash |  | $ | 241.9 |  |  | $ | 371.4 |
Schedule of Other Assets | The composition of the Company’s other assets is as follows as of June 30, 2024 and March 31, 2024:
| June 30, 2024 |  | March 31, 2024
| (Amounts in millions)
Other current assets |  |  |
Prepaid expenses and other | $ | 59.7 |  |  | $ | 58.2 |
Restricted cash | 36.6 |  |  | 43.7 |
Contract assets | 54.1 |  |  | 59.9 |
Interest rate swap assets | 28.1 |  |  | 35.6 |
Tax credits receivable | 218.4 |  |  | 199.1 |
| $ | 396.9 |  |  | $ | 396.5 |
Other non-current assets |  |  |
Prepaid expenses and other | $ | 16.7 |  |  | $ | 21.6 |
Restricted cash | 12.8 |  |  | 13.7 |
Accounts receivable | 82.6 |  |  | 111.7 |
Contract assets | 4.0 |  |  | 3.2 |
Tax credits receivable | 356.5 |  |  | 361.7 |
Operating lease right-of-use assets | 361.0 |  |  | 388.8 |
| $ | 833.6 |  |  | $ | 900.7 |
Summary of Receivables Transferred | The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three months ended June 30, 2024 and 2023:
|  |  | Three Months Ended
|  |  | June 30,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (Amounts in millions)
Carrying value of receivables transferred and derecognized |  |  |  |  | $ | 313.7 |  |  | $ | 341.3 |
Net cash proceeds received |  |  |  |  | 308.6 |  |  | 336.6 |
Loss recorded related to transfers of receivables |  |  |  |  | 5.1 |  |  | 4.7 |
The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the three months ended June 30, 2023:
|  |  |  |  | Three Months Ended
|  |  |  |  | June 30,
|  |  |  |  |  |  | 2023
|  |  |  |  |  |  | (Amounts in millions)
Gross cash proceeds received for receivables transferred and derecognized |  |  |  |  |  |  | $ | 5.8 |
Less amounts from collections reinvested under revolving agreement |  |  |  |  |  |  | (2.9) |
Proceeds from new transfers |  |  |  |  |  |  | 2.9 |
Collections not reinvested and remitted or to be remitted |  |  |  |  |  |  | 0.5 |
Net cash proceeds received (paid or to be paid) |  |  |  |  |  |  | $ | 3.4 |
Carrying value of receivables transferred and derecognized (1) |  |  |  |  |  |  | $ | 5.8 |
Obligations recorded |  |  |  |  |  |  | $ | 1.1 |
Loss recorded related to transfers of receivables |  |  |  |  |  |  | $ | 1.0 |
___________________ (1)Receivables net of unamortized discounts on long-term, non-interest bearing receivables.
Schedule of Accumulated Other Comprehensive Income | The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the three months ended June 30, 2024 and 2023, there was no income tax expense or benefit reflected in other comprehensive income 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, 2024 | $ | (22.7) |  |  |  |  | $ | 138.7 |  |  | $ | 116.0 |
Other comprehensive income (loss) | (2.9) |  |  |  |  | 3.7 |  |  | 0.8 |
Reclassifications to net loss(1) | — |  |  |  |  | (8.3) |  |  | (8.3) |
Reclassifications to noncontrolling interest(2) | 3.6 |  |  |  |  | (19.0) |  |  | (15.4) |
June 30, 2024 | $ | (22.0) |  |  |  |  | $ | 115.1 |  |  | $ | 93.1 |
March 31, 2023 | $ | (21.6) |  |  |  |  | $ | 142.5 |  |  | $ | 120.9 |
Other comprehensive income (loss) | 0.8 |  |  |  |  | 24.5 |  |  | 25.3 |
Reclassifications to net loss(1) | — |  |  |  |  | (7.6) |  |  | (7.6) |
June 30, 2023 | $ | (20.8) |  |  |  |  | $ | 159.4 |  |  | $ | 138.6 |
___________________ (1)Represents a loss of $1.0 million included in direct operating expense and a gain of $9.3 million included in interest expense on the unaudited condensed consolidated statement of operations in the three months ended June 30, 2024 (three months ended June 30, 2023 - gain of $0.4 million included in direct operating expense and a gain of $7.2 million included in interest expense) (see Note 17). (2)Represents amounts reclassified in connection with the noncontrolling interest recorded for the proportionate ownership interest in the carrying value of Lionsgate Studios (see Note 2).

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