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Acquisitions (Tables) | 6 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule Reconciling Proceeds of Business Combination | The following table reconciles the gross proceeds to the net proceeds reflected in the consolidated statement of cash flows and the consolidated statement of equity (deficit):
|  | (Amounts in millions)
Total gross cash proceeds |  | $ | 330.0 |
Less: SEAC warrant exchange payment (1) |  | (12.5) |
Less: Transaction costs |  | (35.9) |
Net proceeds from the sale of noncontrolling interest in Lionsgate Studios Corp. per the condensed consolidated statement of equity (deficit) |  | 281.6 |
Add: Transaction costs accrued and not paid, net of transaction costs previously paid |  | 1.5 |
Net cash proceeds from the sale of noncontrolling interest in Lionsgate Studios per the condensed consolidated statement of cash flows |  | $ | 283.1 |
______________ (1) Prior to the Closing, each of the then issued and outstanding whole warrants of SEAC, sold as part of SEAC’s initial public offering (the “SEAC Public Warrants”) was automatically exchanged for $0.50 in cash pursuant to the terms of an amendment to the agreement governing the SEAC Public Warrants. As of the Closing, no SEAC Public Warrants were outstanding.
Schedule of Purchase Price Allocation to Tangible and Intangible Assets Acquired and Liabilities Assumed | The preliminary allocation of the purchase price to the assets acquired and liabilities assumed (including measurement period adjustments recorded through September 30, 2024, see Note 5), and a reconciliation to total consideration transferred is presented in the table below:
| (Amounts in millions)
Cash and cash equivalents | $ | 54.1 |
Accounts receivable | 294.2 |
Investment in films and television programs | 370.2 |
Property and equipment | 14.0 |
Intangible assets | 4.0 |
Other assets(1) | 171.1 |
Accounts payable and accrued liabilities | (67.7) |
Content related payable | (38.8) |
Participations and residuals(1) | (202.4) |
Film related obligations(1) | (105.8) |
Other liabilities and deferred revenue(1) | (130.7) |
Preliminary fair value of net assets acquired | 362.2 |
Goodwill | 10.9 |
Preliminary purchase price consideration at September 30, 2024 | $ | 373.1 |
______________ (1)Includes current and non-current amounts.
Pro Forma Statement of Operations Information | The following unaudited pro forma condensed consolidated statement of operations information presented below illustrates the results of operations of the Company as if the acquisition of eOne as described above occurred on April 1, 2023. The unaudited pro forma condensed consolidated financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition had occurred on April 1, 2023, nor is it indicative of future results. The statement of operations information below includes the statement of operations of eOne for the three and six months ended September 30, 2023 combined with the Company's statement of operations for the three and six months ended September 30, 2023, respectively.
|  |  | Three Months Ended |  |  |  | Six Months Ended
|  |  | September 30, |  |  |  | September 30,
|  |  | 2023 |  |  |  | 2023
|  |  | (Amounts in millions)
Revenues |  |  | $ | 1,125.8 |  |  |  |  | $ | 2,176.8 |
Net loss attributable to Lions Gate Entertainment Corp. shareholders |  |  | $ | (869.7) |  |  |  |  | $ | (1,231.0) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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