XML 89 R60.htm IDEA: XBRL DOCUMENT
v3.24.3

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items] |  |
Schedule of Derivative Instruments Outstanding | As of June 30, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 22 months from June 30, 2024):
June 30, 2024 |
Foreign Currency |  | Foreign Currency Amount |  |  |  |  | US Dollar Amount |  |  | Weighted Average Exchange Rate Per $1 USD |
|  | (Amounts in millions) |  |  |  |  | (Amounts in millions) |  |  |  |
British Pound Sterling |  |  | 2.2 GBP |  |  | in exchange for |  | $ | 2.9 |  |  |  | 0.78 GBP |
Czech Koruna |  |  | 180.0 CZK |  |  | in exchange for |  | $ | 7.7 |  |  |  | 23.29 CZK |
Euro |  |  | 9.6 EUR |  |  | in exchange for |  | $ | 9.2 |  |  |  | 0.96 EUR |
Canadian Dollar |  |  | 9.8 CAD |  |  | in exchange for |  | $ | 7.3 |  |  |  | 1.34 CAD |
Mexican Peso |  |  | 18.7 MXN |  |  | in exchange for |  | $ | 0.9 |  |  |  | 20.70 MXN |
Hungarian Forint |  |  | 4,571.3 HUF |  |  | in exchange for |  | $ | 12.6 |  |  |  | 370.84 HUF |
New Zealand Dollar |  |  | 43.6 NZD |  |  | in exchange for |  | $ | 26.7 |  |  |  | 1.64 NZD |
Designated Cash Flow Hedges. As of June 30, 2024 and March 31, 2024, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company’s SOFR-based debt, see Note 7 and Note 8).
Effective Date |  | Notional Amount |  |  | Fixed Rate Paid |  |  | Maturity Date
|  | (in millions) |  |  |  |  |  |
May 23, 2018 |  | $ | 300.0 |  |  |  | 2.915 | % |  | March 24, 2025
May 23, 2018 |  | $ | 700.0 |  |  |  | 2.915 | % |  | March 24, 2025
June 25, 2018 |  | $ | 200.0 |  |  |  | 2.723 | % |  | March 23, 2025
July 31, 2018 |  | $ | 300.0 |  |  |  | 2.885 | % |  | March 23, 2025
December 24, 2018 |  | $ | 50.0 |  |  |  | 2.744 | % |  | March 23, 2025
December 24, 2018 |  | $ | 100.0 |  |  |  | 2.808 | % |  | March 23, 2025
December 24, 2018 |  | $ | 50.0 |  |  |  | 2.728 | % |  | March 23, 2025
Total |  | $ | 1,700.0 |  |  |  |  |  |  |
| As of March 31, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 25 months from March 31, 2024):
March 31, 2024 |
Foreign Currency |  | Foreign Currency Amount |  |  |  |  | US Dollar Amount |  |  | Weighted Average Exchange Rate Per $1 USD |
|  | (Amounts in millions) |  |  |  |  | (Amounts in millions) |  |  |  |
British Pound Sterling |  |  | 0.5 GBP |  |  | in exchange for |  | $ | 0.6 |  |  |  | 0.79 GBP |
Czech Koruna |  |  | 180.0 CZK |  |  | in exchange for |  | $ | 7.7 |  |  |  | 23.29 CZK |
Euro |  |  | 0.6 EUR |  |  | in exchange for |  | $ | 0.5 |  |  |  | 0.91 EUR |
Canadian Dollar |  |  | 21.4 CAD |  |  | in exchange for |  | $ | 15.9 |  |  |  | 1.34 CAD |
Mexican Peso |  |  | 56.7 MXN |  |  | in exchange for |  | $ | 3.0 |  |  |  | 18.95 PLN |
Hungarian Forint |  |  | 1,450.0 HUF |  |  | in exchange for |  | $ | 4.0 |  |  |  | 360.17 HUF |
New Zealand Dollar |  |  | 73.9 NZD |  |  | in exchange for |  | $ | 45.3 |  |  |  | 1.64 NZD |
Designated Cash Flow Hedges. As of March 31, 2024 and March 31, 2023, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company’s SOFR-based debt, see Note 7 and Note 8).
Effective Date |  | Notional Amount |  |  | Fixed Rate Paid |  | Maturity Date |  |  |
|  | (in millions) |  |  |  |  |  |  |  |
May 23, 2018 |  | $ | 300.0 |  |  | 2.915% |  | March 24, 2025 |  |  |  |
May 23, 2018 |  | $ | 700.0 |  |  | 2.915% |  | March 24, 2025 |  |  | (1) |
June 25, 2018 |  | $ | 200.0 |  |  | 2.723% |  | March 23, 2025 |  |  | (1) |
July 31, 2018 |  | $ | 300.0 |  |  | 2.885% |  | March 23, 2025 |  |  | (1) |
December 24, 2018 |  | $ | 50.0 |  |  | 2.744% |  | March 23, 2025 |  |  | (1) |
December 24, 2018 |  | $ | 100.0 |  |  | 2.808% |  | March 23, 2025 |  |  | (1) |
December 24, 2018 |  | $ | 50.0 |  |  | 2.728% |  | March 23, 2025 |  |  | (1) |
Total |  | $ | 1,700.0 |  |  |  |  |  |  |  |  |
(1) | Represents the re-designated swaps as described in the May 2022 Transactions section below that were previously not designated cash flow hedges at March 31, 2022
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income (Loss), Location And Effect | The following table presents the pre-tax effect of the Company’s derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three months ended June 30, 2024 and 2023:
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Forward exchange contracts |  |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive income (loss) |  | $ | 0.2 |  |  | $ | (2.5 | )
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense |  | $ | (1.0 | ) |  | $ | 0.4 |
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in millions) |
Interest rate swaps |  |  |  |  |  |  |  |
Gain recognized in accumulated other comprehensive income (loss) |  | $ | 3.5 |  |  | $ | 27.1 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense |  | $ | 10.9 |  |  | $ | 9.1 |
Derivatives not designated as cash flow hedges: |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  |  |  |  |
Loss reclassified from accumulated other comprehensive income (loss) into interest expense |  | $ | (1.6 | ) |  | $ | (1.9 | )
Total direct operating expense on consolidated statements of operations |  | $ | 355.8 |  |  | $ | 362.1 |
Total interest expense on consolidated statements of operations |  | $ | 58.6 |  |  | $ | 49.9 |
| The following table presents the pre-tax effect of the Company’s derivatives on the accompanying combined statements of operations and comprehensive income (loss) for the years ended March 31, 2024, 2023 and 2022:
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward exchange contracts |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive income (loss) |  | $ | (5.8 | ) |  | $ | 1.7 |  |  | $ | 1.7 |
Loss reclassified from accumulated other comprehensive income (loss) into direct operating expense |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.2 | )
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
Gain recognized in accumulated other comprehensive income (loss) |  | $ | 36.3 |  |  | $ | 81.1 |  |  | $ | 66.5 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense |  |  | 41.8 |  |  |  | 1.4 |  |  |  | (15.0 | )
Derivatives not designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
Loss reclassified from accumulated other comprehensive income (loss) into interest expense |  | $ | (7.2 | ) |  | $ | (11.8 | ) |  | $ | (33.8 | )
Total direct operating expense on combined statements of operations |  | $ | 1,886.7 |  |  | $ | 2,207.9 |  |  | $ | 1,922.1 |
Total interest expense on combined statements of operations |  | $ | 222.5 |  |  | $ | 162.6 |  |  | $ | 115.0 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | As of June 30, 2024 and March 31, 2024, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company’s use of derivatives:
|  | June 30, 2024 |
|  | Other Current Assets |  |  | Other Accrued Liabilities |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | — |  |  | $ | 1.6 |
Interest rate swaps |  |  | 28.1 |  |  |  | — |
Fair value of derivatives |  | $ | 28.1 |  |  | $ | 1.6 |
|  | March 31, 2024 |
|  | Other Current Assets |  |  | Other Accrued Liabilities |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | — |  |  | $ | 2.8 |
Interest rate swaps |  |  | 35.6 |  |  |  | — |
Fair value of derivatives |  | $ | 35.6 |  |  | $ | 2.8 |
| As of March 31, 2024 and 2023, the Company had the following amounts recorded in the accompanying combined balance sheets related to the Company’s use of derivati ves:
|  | March 31, 2024 |
|  | Other Current Assets |  |  | Other Non- Current Assets |  |  | Other Accrued Liabilities |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | — |  |  | $ | — |  |  | $ | 2.8 |
Interest rate swaps |  |  | 35.6 |  |  |  | — |  |  |  | — |
Fair value of derivatives |  | $ | 35.6 |  |  | $ | — |  |  | $ | 2.8 |
|  | March 31, 2023 |
|  | Other Current Assets |  |  | Other Non- Current Assets |  |  | Other Accrued Liabilities |
|  | (Amounts in millions) |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | 2.9 |  |  | $ | — |  |  | $ | 0.1 |
Interest rate swaps |  |  | — |  |  |  | 41.1 |  |  |  | — |
Fair value of derivatives |  | $ | 2.9 |  |  | $ | 41.1 |  |  | $ | 0.1 |

X
- Definition Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income, Location And Effect + References No definition available. + Details
Name: | lgfa_ScheduleOfDerivativeInstrumentsStatementsOfFinancialPerformanceAndComprehensiveIncomeLocationAndEffectTableTextBlock
Namespace Prefix: | lgfa_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration