Corporate Debt (Tables)

12 Months Ended

Mar. 31, 2015

The total carrying values of corporate debt of the Company, excluding film obligations and production loans, were as follows as of March 31, 2015 and March 31, 2014:



	March 31, 2015		March 31, 2014
	(Amounts in thousands)
Senior revolving credit facility	$	—	$	97,619
5.25% Senior Notes	225,000		225,000
Term Loan Due 2022	375,000		—
Term Loan Due 2020, net of unamortized discount of $2,247 at March 31, 2014	—		222,753
Convertible senior subordinated notes, net of unamortized discount of $3,891 (March 31, 2014 - $10,397)	114,126		131,788
	$	714,126	$	677,160

Future Annual Contractual Principal Payment Commitments Under Corporate Debt

The following table sets forth future annual contractual principal payment commitments of corporate debt as of March 31, 2015:



	Conversion Price Per Share at March 31, 2015	Maturity Date or Next Holder Redemption Date⁽¹⁾	Year Ended March 31,
Debt Type	Conversion Price Per Share at March 31, 2015	Maturity Date or Next Holder Redemption Date⁽¹⁾	2016		2017		2018		2019		2020		Thereafter		Total
			(Amounts in thousands)
Senior revolving credit facility	N/A	September 2017	$	—	$	—	$	—	$	—	$	—	$	—	$	—
5.25% Senior Notes	N/A	August 2018	—		—		—		225,000		—		—		225,000
Term Loan Due 2022⁽²⁾	N/A	March 2022	—		—		—		—		—		375,000		375,000
Principal amounts of convertible senior subordinated notes:
April 2009 3.625% Notes	$8.15	March 2025	16,167		—		—		—		—		—		16,167
January 2012 4.00% Notes	$10.38	January 2017	—		41,850		—		—		—		—		41,850
April 2013 1.25% Notes	$29.65	April 2018	—		—		—		60,000		—		—		60,000
			$	16,167	$	41,850	$	—	$	285,000	$	—	$	375,000	718,017
Less aggregate unamortized discount															(3,891		)
															$	714,126

____________________


(1)	The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below.


(2)	In May 2015, Lions Gate Entertainment Corp. amended the Credit Agreement governing its Term Loan Due 2022, and pursuant to the amended Credit Agreement, borrowed an additional term loan in an aggregate amount of $25.0 million.

Convertible Senior Subordinated Notes Outstanding

The following table sets forth the convertible senior subordinated notes outstanding and certain key terms of these notes at March 31, 2015 and March 31, 2014:



Convertible Senior Subordinated Notes	Maturity Date or Next Holder Redemption Date	Conversion Price Per Share at March 31, 2015	March 31, 2015							March 31, 2014
Convertible Senior Subordinated Notes	Maturity Date or Next Holder Redemption Date	Conversion Price Per Share at March 31, 2015	Principal		Unamortized Discount			Net Carrying Amount		Principal		Unamortized Discount			Net Carrying Amount
			(Amounts in thousands)
October 2004 2.9375% Notes	N/A	N/A	$	—	$	—		$	—	$	115	$	—		$	115
April 2009 3.625% Notes	March 15, 2025	$8.15	16,167		—			16,167		40,220		(4,605		)	35,615
January 2012 4.00% Notes	January 11, 2017	$10.38	41,850		(3,891		)	37,959		41,850		(5,792		)	36,058
April 2013 1.25% Notes	April 15, 2018	$29.65	60,000		—			60,000		60,000		—			60,000
			$	118,017	$	(3,891	)	$	114,126	$	142,185	$	(10,397	)	$	131,788

Conversions of Convertible Senior Subordinated Notes

The following conversions were completed with respect to the Company's convertible senior subordinated notes, which resulted in a loss on extinguishment of debt in the years ended March 31, 2015, 2014 and 2013 of $1.3 million, $3.3 million, and $0.4 million, respectively:



	Year Ended March 31,
	2015		2014		2013
	(Amounts in thousands, except share amounts)
April 2009 3.625% Notes
Principal amount converted	$	24,053	$	24,289	$	2,072
Common shares issued upon conversion	2,937,096		2,943,634		251,634
Weighted average conversion price per share	$	8.19	$	8.25	$	8.25
October 2004 2.9375% Notes
Principal amount converted	$	99	$	233	$	—
Common shares issued upon conversion	8,634		20,259		—
Weighted average conversion price per share	$	11.46	11.50		$	—
January 2012 4.00% Notes
Principal amount converted	$	—	$	3,150	$	—
Common shares issued upon conversion	—		299,999		—
Weighted average conversion price per share	$	—	$	10.50	$	—
February 2005 3.625% Notes
Principal amount converted	$	—	$	—	$	15,825
Common shares issued upon conversion	—		—		1,107,950
Weighted average conversion price per share	$	—	$	—	$	14.28
Total
Principal amount converted	$	24,152	$	27,672	17,897
Common shares issued upon conversion	2,945,730		3,263,892		1,359,584
Weighted average conversion price per share	$	8.20	$	8.48	$	13.16

Interest Expense on Convertible Senior Subordinated Notes

Interest expense recognized for the convertible senior subordinated notes for the years ended March 31, 2015, 2014 and 2013 is presented below:



	Year Ended March 31,
	2015		2014		2013
	(Amounts in thousands)
Contractual interest coupon	3,458		4,751		4,292
Amortization of discount on liability component and debt issuance costs	5,200		8,845		7,782
	$	8,658	$	13,596	$	12,074

10.25% Senior Notes and July 2013 Issuances [Member]

Debt Instrument [Line Items]

Costs Associated with Issuance and Contemporaneous Redemption of Debt

The table below sets forth the applicable costs associated with the redemption of the 10.25% Senior Notes and contemporaneous issuance of the July 2013 Issuances during the year ended March 31, 2014, and the applicable accounting for such:



	Total			Amortize Over Life of July 2013 Issuances		Loss on Extinguishment of Debt
	(Amounts in thousands)
Early redemption/ call premium on 10.25% Senior Notes	$	34,304		$	13,218	$	21,086
Previously incurred unamortized net discount/premium and deferred financing costs of 10.25% Senior Notes	19,825			7,639		12,186
	54,129		⁽¹⁾	20,857		33,272
Third party costs incurred to issue the July 2013 Issuances	6,748		⁽²⁾	4,148		2,600
Total	$	60,877		$	25,005	$	35,872

(1)Of the $54.1 million of costs associated with the redeemed 10.25% Senior Notes, approximately $20.9 million, representing the amount related to the portion of the debt redemption deemed to be a modification of terms as discussed above, was accounted for as deferred costs, with the remaining amount of $33.3 million expensed as a loss on extinguishment of debt.

(2)Third party costs incurred to issue the July 2013 Issuances were similarly allocated, with approximately $2.6 million deemed to be related to the modification, and therefore expensed, with the remaining amount of $4.1 million capitalized as deferred financing costs of the new issuances.

Term Loan Due 2022 and Term Loan Due 2020 [Member]

Debt Instrument [Line Items]

Costs Associated with Issuance and Contemporaneous Redemption of Debt

The table below sets forth the applicable costs associated with the issuance of the Term Loan Due 2022 and contemporaneous redemption of the Term Loan Due 2020 during the year ended March 31, 2015, and the applicable accounting for such:



	Total			Amortize Over Life of Term Loan Due 2022		Loss on Extinguishment of Debt
	(Amounts in thousands)
Early redemption/ call premium on Term Loan Due 2020	$	4,500		$	2,834	$	1,666
Previously incurred unamortized discount and deferred financing costs of Term Loan Due 2020	14,420			8,803		5,617
	18,920		⁽¹⁾	11,637		7,283
Third party costs incurred to issue the Term Loan Due 2022	4,931		⁽²⁾	1,826		3,105
Total	$	23,851		$	13,463	$	10,388

(1)Of the $18.9 million of costs associated with the redeemed Term Loan Due 2020, approximately $11.6 million, representing the amount related to the portion of the debt redemption deemed to be a modification of terms as discussed above, was accounted for as deferred costs, with the remaining amount of $7.3 million expensed as a loss on extinguishment of debt.

(2)Third party costs incurred on the new Term Loan Due 2022 were similarly allocated, with approximately $3.1 million deemed to be related to the modification, and therefore expensed, with the remaining amount of $1.8 million capitalized as deferred financing costs of the new issuance.