XML 329 R61.htm IDEA: XBRL DOCUMENT v3.24.4

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

12 Months Ended

Sep. 30, 2024

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Derivative Instruments Outstanding

As of September 30, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 19 months from September 30, 2024):

September 30, 2024

Foreign Currency

Foreign Currency Amount

US Dollar Amount

Weighted Average Exchange Rate Per $1 USD

(Amounts in millions)

(Amounts in millions)

Czech Koruna

180.0 CZK

in exchange for

$

7.7

23.29 CZK

Euro

14.8 EUR

in exchange for

$

16.6

0.90 EUR

Canadian Dollar

15.0 CAD

in exchange for

$

11.1

1.35 CAD

Mexican Peso

199.1 MXN

in exchange for

$

10.4

19.73 MXN

Hungarian Forint

1,498.7 HUF

in exchange for

$

3.9

371.46 HUF

New Zealand Dollar

3.6 NZD

in exchange for

$

2.3

1.64 NZD

In connection with the Separation, Business Combination and Intercompany Note described in Note 7, the Company assumed the rights, obligations, costs and benefits associated with and provided under the terms of Lionsgate’s floating-to-fixed swap contracts.

Designated Cash Flow Hedges. As of September 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
August 15, 2024 (1)		$	65.0				4.045	%		September 15, 2026
August 15, 2024 (1)		$	77.5				3.803	%		August 15, 2026
August 15, 2024 (1)		$	77.5				3.810	%		September 15, 2026
Total		$	1,920.0

(1) Entered into during the three months ended September 30, 2024.

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 and six months ended September 30, 2024 and 2023:

		Three Months Ended September 30,								Six Months Ended September 30,
		2024				2023				2024				2023
		(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts
Gain (loss) recognized in accumulated other comprehensive income (loss)		$	0.8			$	(0.6	)		$	1.0			$	(3.1	)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense		$	(0.2	)		$	(0.4	)		$	(1.2	)		$	0.1
Interest rate swaps
Gain (loss) recognized in accumulated other comprehensive income (loss)		$	(6.3	)		$	9.3			$	(2.8	)		$	36.4
Gain reclassified from accumulated other comprehensive income (loss) into interest expense		$	11.4			$	10.9			$	22.3			$	20.1
Derivatives not designated as cash flow hedges:
Interest rate swaps
Loss reclassified from accumulated other comprehensive income (loss) into interest expense		$	(1.5	)		$	(1.8	)		$	(3.1	)		$	(3.8	)
Total direct operating expense on consolidated statements of operations		$	628.2			$	510.5			$	983.8			$	872.5
Total interest expense on consolidated statements of operations		$	63.0			$	51.7			$	121.6			$	101.6

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 Amounts Recorded in Accompanying Unaudited Condensed Consolidated Balance Sheets Related to Company's use of Derivatives

As of September 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:

		September 30, 2024
		Other Current Assets				Other Accrued Liabilities (current)				Other Liabilities (non-current)
		(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts		$	—			$	0.6			$	—
Interest rate swaps			12.2				—				(1.7	)
Fair value of derivatives		$	12.2			$	0.6			$	(1.7	)

		March 31, 2024
		Other Current Assets				Other Accrued Liabilities (current)
		(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 derivatives:

		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