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Debt (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Mar. 31, 2024
Debt Instrument [Line Items] |  |
Schedule of Debt | Total debt of the Company, excluding film related obligations, was as follows:
|  | June 30, 2024 |  |  | March 31, 2024 |
|  | (Amounts in millions) |
Intercompany Revolver |  | $ | 66.7 |  |  | $ | — |
Intercompany Note: |  |  |  |  |  |  |  |
LGTV Revolver (1) |  |  | 585.0 |  |  |  | 575.0 |
LGTV Term Loan A (1) |  |  | 314.4 |  |  |  | 399.3 |
LGTV Term Loan B (1) |  |  | 605.1 |  |  |  | 819.2 |
Total corporate debt |  |  | 1,571.2 |  |  |  | 1,793.5 |
Unamortized debt issuance costs |  |  | (7.5 | ) |  |  | (10.2 | )
Total debt, net |  |  | 1,563.7 |  |  |  | 1,783.3 |
Less current portion |  |  | (716.3 | ) |  |  | (860.3 | )
Non-current portion of debt |  | $ | 847.4 |  |  | $ | 923.0 |
(1) | As of March 31, 2024, amounts reflect the balances outstanding under Lionsgate’s Credit Agreement (including the revolving credit facility, term loan A and term loan B, together referred to as the “Lionsgate Senior Credit Facilities”) prior to the Company’s entry into the Intercompany Note with LGCH described below.
| Total debt of the Company, excluding film related obligations, was as follows:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | (Amounts in millions) |
Senior Credit Facilities: |  |  |  |  |  |  |  |
Revolving Credit Facility |  | $ | 575.0 |  |  | $ | — |
Term Loan A |  |  | 399.3 |  |  |  | 428.2 |
Term Loan B |  |  | 819.2 |  |  |  | 831.7 |
Total corporate debt |  |  | 1,793.5 |  |  |  | 1,259.9 |
Unamortized debt issuance costs |  |  | (10.2 | ) |  |  | (16.3 | )
Total debt, net |  |  | 1,783.3 |  |  |  | 1,243.6 |
Less current portion |  |  | (860.3 | ) |  |  | (41.4 | )
Non-current portion of debt |  | $ | 923.0 |  |  | $ | 1,202.2 |
Summary of Future Annual Contractual Principal Payment Commitments of Debt | The cash flows generated from the exploitation of the rights will be applied to repay the IP Credit Facility subject to cumulative minimum guaranteed payment amounts as set forth below:
Cumulative Period From September 29, 2022 Through: |  | Cumulative Minimum Guaranteed Payment Amounts |  |  | Payment Due Date |
|  | (in millions) |  |  |  |
September 30, 2024 |  | $ | 60.7 |  |  |  | November 14, 2024 |
September 30, 2025 |  | $ | 91.1 |  |  |  | November 14, 2025 |
September 30, 2026 |  | $ | 121.4 |  |  |  | November 14, 2026 |
July 30, 2027 |  | $ | 161.9 |  |  |  | July 30, 2027 |
| The following table sets forth future annual contractual principal payment commitments of debt as of March 31, 2024:
|  | Maturity Date |  |  | Year Ending March 31, |
Debt Type |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Thereafter |  |  | Total |
|  | (Amounts in millions) |
Revolving Credit Facility |  |  | April 2026 |  |  | $ | — |  |  | $ | — |  |  | $ | 575.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 575.0 |
Term Loan A |  |  | April 2026 |  |  |  | 41.1 |  |  |  | 44.5 |  |  |  | 313.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 399.3 |
Term Loan B |  |  | March 2025 |  |  |  | 819.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 819.2 |
|  |  |  |  |  | $ | 860.3 |  |  | $ | 44.5 |  |  | $ | 888.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,793.5 |
Less aggregate unamortized debt issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10.2 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,783.3 |
Schedule of Loss on Extinguishment of Debt | During the three months ended June 30, 2024 and 2023, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below.
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in millions) |
Loss on Extinguishment of Debt: |  |  |  |  |  |  |  |
Term Loan A and Term Loan B repayment (1) |  | $ | (1.0 | ) |  | $ | — |
(1) | See LGTV Term Loan A and LGTV Term Loan B Prepayment above.
| Loss on Extinguishment of Debt During the fiscal years ended March 31, 2024, 2023, and 2022, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below.
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Amounts in millions) |
Loss on Extinguishment of Debt: |  |  |  |  |  |  |  |  |  |  |  |
Production loan prepayment (1) |  | $ | (1.3 | ) |  | $ | — |  |  | $ | — |
Term Loan A prepayment |  |  | — |  |  |  | (1.3 | ) |  |  | — |
Credit Agreement amendment (Revolving Credit Facility and Term Loan A) (2) |  |  | — |  |  |  | — |  |  |  | (1.7 | )
Termination of a portion of Revolving Credit Facility commitments |  |  | — |  |  |  | — |  |  |  | (1.1 | )
Term Loan B repurchases and other |  |  | — |  |  |  | — |  |  |  | (0.6 | )
|  | $ | (1.3 | ) |  | $ | (1.3 | ) |  | $ | (3.4 | )
(1) | Represents issuance costs written off in connection with the early prepayment of certain production loans (see Note 8).
(2) | See Accounting for the Credit Agreement Amendment section below.
Summary of Accounting for the Credit Agreement Amendment |  | The following table summarizes the accounting for the Credit Agreement Amendment on April 6, 2021, as described above:
|  | Year Ended March 31, 2022 |
|  | Loss on Extinguishment of Debt |  |  | Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances |  |  | Total |
|  | (Amounts in millions) |
Credit Agreement amendment (Revolving Credit Facility and Term Loan A): |  |  |  |  |  |  |  |  |  |  |  |
New debt issuance costs and call premiums |  | $ | 0.6 |  |  | $ | 5.6 |  |  | $ | 6.2 |
Previously incurred debt issuance costs |  |  | 1.1 |  |  |  | 18.4 |  |  |  | 19.5 |
|  | $ | 1.7 |  |  | $ | 24.0 |  |  | $ | 25.7 |
Summary Of Accounting For The Senior Notes redemption |  | The following table summarizes the accounting for the Senior Notes redemption and issuance transactions, as described above:
|  | Year Ended March 31, 2022 |
|  | Loss on Extinguishment of Debt |  |  | Recorded as a Reduction of Outstanding Debt Balances & Amortized Over Life of New Issuances |  |  | Total |
|  | (Amounts in millions) |
Senior Notes redemption and issuance: |  |  |  |  |  |  |  |  |  |  |  |
New debt issuance costs and call premiums |  | $ | 20.7 |  |  | $ | 25.4 |  |  | $ | 46.1 |
Previously incurred debt issuance costs |  |  | 4.1 |  |  |  | 12.7 |  |  |  | 16.8 |
|  | $ | 24.8 |  |  | $ | 38.1 |  |  | $ | 62.9 |
Starz Business of Lions Gate Entertainment Corp |  |
Debt Instrument [Line Items] |  |
Schedule of Debt | As discussed in Note 1, the Starz Business is the primary borrower of Lionsgate’s 5.5% Senior Notes. Total debt of the Starz Business, excluding film related obligations, was as follows:
|  | June 30, 2024 |  |  | March 31, 2024 |
|  | (Amounts in millions) |
Corporate debt: |  |  |  |  |  |  |  |
5.5% Senior Notes (1) |  | $ | 715.0 |  |  | $ | 715.0 |
Unamortized debt issuance costs |  |  | (17.6 | ) |  |  | (18.4 | )
Total debt, net (non-current) |  | $ | 697.4 |  |  | $ | 696.6 |
(1) | Amounts as of June 30, 2024 includes $389.9 million of Exchange Notes and $325.1 million of 5.5% Senior Notes not exchanged as discussed below.
| As discussed in Note 1, the Starz Business is the primary borrower of Lionsgate’s 5.5% Senior Notes. Total debt of the Starz Business, excluding film related obligations , was as follows:
|  | March 31, 2024 |  |  | March 31, 2023 |
|  | (Amounts in millions) |
Corporate debt: |  |  |  |  |  |  |  |
5.5% Senior Notes |  | $ | 715.0 |  |  | $ | 800.0 |
Unamortized debt issuance costs |  |  | (18.4 | ) |  |  | (24.0 | )
Total debt, net (non-current) |  | $ | 696.6 |  |  | $ | 776.0 |
Summary of Future Annual Contractual Principal Payment Commitments of Debt |  | The following table sets forth future annual contractual principal payment commitments of debt as of March 31, 2024:
|  |  |  |  | Year Ending March 31, |
Debt Type |  | Maturity Date |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Thereafter |  |  | Total |
|  |  |  |  | (Amounts in millions) |
5.5% Senior Notes |  |  | April 2029 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 715.0 |  |  | $ | 715.0 |
Less aggregate unamortized debt issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (18.4 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 696.6 |
Schedule of Loss on Extinguishment of Debt | During the three months ended June 30, 2024 and 2023, the Starz Business recorded a gain (loss) on extinguishment of debt related to the transactions described above as summarized in the table below:
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Amounts in millions) |
Gain (loss) on extinguishment of debt: |  |  |  |  |  |  |  |
5.5% Senior Notes exchange and repurchases (1) |  | $ | (4.9 | ) |  | $ | 21.2 |
(1) | The 5.5% Senior Notes Exchange was considered a modification of terms since the present value of the cash flows after the amendment differed by less than a 10% change from the present value of the cash flows on a creditor-by-creditor basis prior to the amendment. Accordingly, the unamortized debt issuance costs are being amortized over the applicable term of the debt and the third-party costs of $4.9 million were expensed as a loss on extinguishment of debt.

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