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Segment Information (Tables)

12 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Segment information is presented in the table below:

			Year Ended
			March 31,
			2025						2024						2023
			(Amounts in millions)
Segment revenue
Starz Networks			$	1,356.3					$	1,382.7					$	1,413.1
International			13.3						9.7						9.4
Total revenue			1,369.6						1,392.4						1,422.5
Segment amortization of programming content
Starz Networks			630.7						606.2						638.1
International			8.1						20.3						6.9
Total amortization of programming content			638.8						626.5						645.0
Segment marketing and advertising expense
Starz Networks			288.7						321.8						336.4
International			1.2						1.1						2.6
Total marketing and advertising expense			289.9						322.9						339.0
Segment payroll expense
Starz Networks			113.1						123.2						109.9
International			2.2						1.7						1.7
Total payroll expense			115.3						124.9						111.6
Other(1)
Starz Networks			122.0						154.4						137.4
International			2.1						(6.5)						4.7
Total other expense			124.1						147.9						142.1
Segment profit(2)
Starz Networks			201.8						177.1						191.3
International			(0.3)						(6.9)						(6.5)
Total segment profit			$	201.5					$	170.2					$	184.8

______________________________________

(1)    This expense line item encompasses all other costs presented in segment profit that are not separately disclosed in this table, including, but not limited to, other operating expenses, other distribution expenses, and other general and administrative expenses.

(2)    During the fourth quarter of fiscal 2025, the Company changed the extent of allocations and method of attribution of certain costs to its segments. Accordingly, the following amounts were allocated to Starz Networks in the fiscal years ended March 31, 2024 and March 31, 2023, to conform to the current period presentation: COVID related benefits of $0.1 million and $2.8 million, respectively, and purchase accounting and related adjustments of $0.3 million and $0.5 million, respectively.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The reconciliation of total segment profit to the Company’s loss from continuing operations before income taxes is as follows:

			Year Ended
			March 31,
			2025						2024						2023
			(Amounts in millions)
Segment profit			201.5						170.2						184.8
Depreciation and amortization			(170.3)						(161.8)						(155.7)
Restructuring and other(1)			(184.1)						(224.8)						(89.9)
Goodwill impairment			—						(663.9)						(1,261.7)
Share-based compensation expense(2)			(17.5)						(23.2)						(25.7)
Operating income (loss)			(170.4)						(903.5)						(1,348.2)
Interest expense			(45.6)						(47.2)						(58.6)
Interest and other income			4.9						3.5						0.6
Other expense, net			(7.2)						(7.5)						(6.7)
(Loss) Gain on extinguishment of debt			(5.6)						21.2						58.7
Income (loss) before income taxes			(223.9)						(933.5)						(1,354.2)

___________________

(1)Restructuring and other includes restructuring and severance costs, certain transaction and other costs, and certain unusual items, when applicable. See Note 13, Restructuring and Other, for further details.

(2)Share-based compensation expense in the fiscal years ended March 31, 2025, 2024 and 2023 includes $0.7 million, $5.6 million and $9.7 million, respectively, of corporate allocation of share-based compensation expense, representing the allocation of Old Lionsgate's corporate employee share-based compensation expense. Share-based compensation expense for the fiscal years ended in March 31, 2025 and March 31, 2024 includes $18.0 million and $24.6 million, respectively, in operating expenses but excludes $0.5 million and $1.4 million, respectively, which are included in Restructuring and other expenses and are related to the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. See Note 11, Share-Based Compensation, to our audited combined financial statements for further details. The reconciliation of total segment assets to the Company’s total combined assets is as follows:

Reconciliation of Assets from Segment to Consolidated

			March 31, 2025						March 31, 2024
			(Amounts in millions)
Assets
Starz Networks			$	2,017.8					$	2,001.8
International			6.5						11.2
Other unallocated assets(1)			148.9						89.1
Assets of discontinued operations			—						37.0
			$	2,173.2					$	2,139.1

_____________________

(1)Other unallocated assets primarily consist of cash and other assets.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Long-lived assets by geographic location are as follows:

			March 31, 2025						March 31, 2024
			(Amounts in millions)
Long-lived assets(1)
United States			$	1,180.5					$	1,038.5

_____________

(1)Long-lived assets represents programming content, net, property and equipment, net, and other assets.

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Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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