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Additional Financial Information (Tables)

9 Months Ended

Dec. 31, 2024

Additional Financial Information [Abstract]

Schedule of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the total amounts reported in the unaudited condensed consolidated statements of cash flows at December 31, 2024 and March 31, 2024. At December 31, 2024 and March 31, 2024, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with certain corporate debt and film related obligations.

						December 31, 2024						March 31, 2024
						(Amounts in millions)
Cash and cash equivalents						$	200.5					$	314.0
Restricted cash included in other current assets						42.8						43.7
Restricted cash included in other non-current assets						10.8						13.7
Total cash, cash equivalents and restricted cash						$	254.1					$	371.4

Schedule of Other Assets

The composition of the Company’s other assets is as follows as of December 31, 2024 and March 31, 2024:

			December 31, 2024						March 31, 2024
			(Amounts in millions)
Other current assets
Prepaid expenses and other			$	54.4					$	58.2
Restricted cash			42.8						43.7
Contract assets			72.5						59.9
Interest rate swap assets			—						35.6
Tax credits receivable			140.7						199.1
			$	310.4					$	396.5
Other non-current assets
Prepaid expenses and other			$	18.6					$	21.6
Restricted cash			10.8						13.7
Accounts receivable			48.0						111.7
Contract assets			10.3						3.2
Tax credits receivable			440.6						361.7
Operating lease right-of-use assets			338.6						388.8
Interest rate swap assets			0.7						—
			$	867.6					$	900.7

Summary of Receivables Transferred

The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three and nine months ended December 31, 2024 and 2023:

			Three Months Ended												Nine Months Ended
			December 31,												December 31,
			2024						2023						2024						2023
			(Amounts in millions)
Carrying value of receivables transferred and derecognized			$	258.0					$	305.9					$	963.3					$	1,065.9
Net cash proceeds received			254.5						300.7						948.1						1,045.6
Loss recorded related to transfers of receivables			3.5						5.2						15.2						20.3

The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the nine months ended December 31, 2023:

															Nine Months Ended
															December 31,
																					2023
																					(Amounts in millions)
Gross cash proceeds received for receivables transferred and derecognized																					$	22.2
Less amounts from collections reinvested under revolving agreement																					(9.1)
Proceeds from new transfers																					13.1
Collections not reinvested and remitted or to be remitted																					(13.4)
Net cash proceeds received (paid or to be paid)(1)																					$	(0.3)
Carrying value of receivables transferred and derecognized (2)																					$	22.1
Obligations recorded																					$	2.1
Loss recorded related to transfers of receivables																					$	2.0

___________________

(1)During the three and nine months ended December 31, 2023, the Company voluntarily repurchased $46.0 million of receivables previously transferred.

(2)Receivables net of unamortized discounts on long-term, non-interest bearing receivables.

Schedule of Accumulated Other Comprehensive Income

The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the nine months ended December 31, 2024 and 2023, there was no income tax expense or benefit reflected in other comprehensive income due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance.

			Foreign currency translation adjustments												Net unrealized gain (loss) on cash flow hedges						Total
			(Amounts in millions)
March 31, 2024			$	(22.7)											$	138.7					$	116.0
Other comprehensive income (loss)			(11.3)												4.4						(6.9)
Reclassifications to net loss(1)			—												(21.4)						(21.4)
Reclassifications to noncontrolling interest(2)			5.3												(16.6)						(11.3)
December 31, 2024			$	(28.7)											$	105.1					$	76.4
March 31, 2023			$	(21.6)											$	142.5					$	120.9
Other comprehensive income (loss)			1.6												17.4						19.0
Reclassifications to net loss(1)			—												(23.5)						(23.5)
December 31, 2023			$	(20.0)											$	136.4					$	116.4

___________________

(1)Represents a loss of $1.2 million included in direct operating expense and a gain of $22.6 million included in interest expense on the unaudited condensed consolidated statement of operations in the nine months ended December 31, 2024 (nine months ended December 31, 2023 - loss of $2.5 million included in direct operating expense and a gain of $26.0 million included in interest expense) (see Note 17).

(2)Represents amounts reclassified in connection with the noncontrolling interest recorded for the proportionate ownership interest in the carrying value of Lionsgate Studios (see Note 2).

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