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Additional Financial Information | 12 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information | Additional Financial Information The following tables present supplemental information related to the combined financial statements. Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents and cash in assets of discontinued operations reported in the combined balance sheet to the total amounts reported in the combined statements of cash flows at March 31, 2025 and 2024.
| March 31, 2025 |  | March 31, 2024
| (Amounts in millions)
Cash and cash equivalents | $ | 17.8 |  |  | $ | 23.0 |
Cash in assets of discontinued operations — current | — |  |  | 14.0 |
Total cash, cash equivalents and cash in assets of discontinued operations | $ | 17.8 |  |  | $ | 37.0 |
Accounts Receivable Monetization Under the Company's accounts receivable monetization programs, the Company has entered into individual agreements to monetize certain of its trade accounts receivable directly with both non-related third-party purchasers and Old Lionsgate, as further described below. Under the accounts receivable monetization programs, the Company transfers receivables to purchasers in exchange for cash proceeds, and the Company continues to service the receivables for the purchasers. The Company accounts for the transfers of these receivables as a sale, removes (derecognizes) the carrying amount of the receivables from its balance sheets and classifies the proceeds received as cash flows from operating activities in the statements of cash flows. The Company records a loss on the sale of these receivables reflecting the net proceeds received (net of any obligations incurred), less the carrying amount of the receivables transferred. The loss is reflected in other expense on the combined statements of operations. The Company receives fees for servicing the accounts receivable for the purchasers, which represent the fair value of the services and were immaterial for the fiscal years ended March 31, 2025, 2024 and 2023. Individual Monetization Agreements. The Company enters into individual agreements to monetize trade accounts receivable. The third-party purchasers have no recourse to other assets of the Company in the event of non-payment by the customers. The following table sets forth a summary of the receivables transferred:
| Year Ended
| March 31,
| 2025 |  | 2024 |  | 2023
| (Amounts in millions)
Carrying value of receivables transferred and derecognized | $ | 822.2 |  |  | $ | 987.1 |  |  | $ | 1,190.1 |
Net cash proceeds received from third party purchasers | 815.1 |  |  | 894.0 |  |  | 999.7 |
Net cash proceeds received from Old Lionsgate | — |  |  | 85.5 |  |  | 183.7 |
Loss recorded related to transfers of receivables | 7.1 |  |  | 7.5 |  |  | 6.7 |
At March 31, 2025, the outstanding amount of receivables derecognized from the Company's combined balance sheets, but which the Company continues to service, related to the Company's individual agreements to monetize trade accounts receivable was $144.2 million (March 31, 2024 — $164.2 million). Other Assets The composition of the Company’s other assets is as follows:
| March 31, 2025 |  | March 31, 2024
| (Amounts in millions)
Other current assets |  |  |
Prepaid expenses and other | $ | 18.4 |  |  | $ | 18.1 |
| $ | 18.4 |  |  | $ | 18.1 |
Other non-current assets |  |  |
Accounts receivable | $ | 4.5 |  |  | $ | 3.5 |
Operating lease right-of-use assets | 37.3 |  |  | 44.5 |
| $ | 41.8 |  |  | $ | 48.0 |
Programming related payables Programming related payables include accrued licensed program rights obligations, which represent amounts payable for film or television rights that the Company has acquired or licensed. Other Accrued Liabilities and Other Liabilities The composition of the Company’s other accrued liabilities (current) and other liabilities (non-current) is as follows:
| March 31, 2025 |  | March 31, 2024
| (Amounts in millions)
Other accrued liabilities (current) |  |  |
Employee related liabilities | $ | 27.9 |  | $ | 28.4
Operating lease liabilities | 9.9 |  | 9.0
Interest payable | 18.0 |  | 18.0
Other accrued expenses and short-term liabilities | 8.7 |  | 10.4
| $ | 64.5 |  | $ | 65.8
Other liabilities (non-current) |  |  |
Income tax payable | $ | — |  | $ | 7.4
Operating lease liabilities | 45.6 |  | 55.4
Programming related payables | 26.5 |  | 13.7
Other long-term liabilities | 3.8 |  | 3.4
| $ | 75.9 |  | $ | 79.9
Supplemental Cash Flow Information Interest paid during the fiscal year ended March 31, 2025 amounted to $42.3 million (2024 — $45.6 million, 2023 — $59.0 million). Income taxes paid during the fiscal year ended March 31, 2025 amounted to $1.1 million (2024 — $3.0 million, 2023 — $8.6 million). There were no significant non-cash investing or financing activities, except for a non cash transfer of debt through Parent net investment of $35.0 million in connection with the Studio Separation during the fiscal year ended March 31, 2025 (see Note 17, Related Party Transactions, for further details), for the fiscal years ended March 31, 2025, 2024 and 2023. Supplemental cash flow information related to leases was as follows:
|  |  | Year Ended
|  |  | March 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
|  |  |  |  | (Amounts in millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  |  |  | $ | 11.2 |  |  | $ | 10.4 |  |  | $ | 2.0 |
Increase (decrease) in right-of-use assets and lease liability due to a reassessment event: |  |  |  |  |  |  |  |  |
Operating leases — increase (decrease) in right-of-use assets |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 15.6 |
Operating leases — increase (decrease) in lease liability |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 15.6 |

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