Additional Financial Information (Tables)

6 Months Ended

Sep. 30, 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 September 30, 2024 and March 31, 2024. At September 30, 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.

	September 30, 2024		March 31, 2024
	(Amounts in millions)
Cash and cash equivalents	$	229.6	$	314.0
Restricted cash included in other current assets	48.1		43.7
Restricted cash included in other non-current assets	11.6		13.7
Total cash, cash equivalents and restricted cash	$	289.3	$	371.4

Schedule of Other Assets

The composition of the Company’s other assets is as follows as of September 30, 2024 and March 31, 2024:

	September 30, 2024		March 31, 2024
	(Amounts in millions)
Other current assets
Prepaid expenses and other	$	67.0	$	58.2
Restricted cash	48.1		43.7
Contract assets	56.6		59.9
Interest rate swap assets	12.2		35.6
Tax credits receivable	166.6		199.1
	$	350.5	$	396.5
Other non-current assets
Prepaid expenses and other	$	15.2	$	21.6
Restricted cash	11.6		13.7
Accounts receivable	47.0		111.7
Contract assets	5.2		3.2
Tax credits receivable	394.7		361.7
Operating lease right-of-use assets	347.7		388.8
	$	821.4	$	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 six months ended September 30, 2024 and 2023:

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Carrying value of receivables transferred and derecognized	$	391.7	$	418.7	$	705.3	$	760.0
Net cash proceeds received	384.9		408.3		693.6		744.9
Loss recorded related to transfers of receivables	6.8		10.4		11.7		15.1

The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the three and six months ended September 30, 2023:

	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2023		2023
	(Amounts in millions)
Gross cash proceeds received for receivables transferred and derecognized	$	16.3	$	22.2
Less amounts from collections reinvested under revolving agreement	(6.2)		(9.1)
Proceeds from new transfers	10.1		13.1
Collections not reinvested and remitted or to be remitted	(9.0)		(13.4)
Net cash proceeds received (paid or to be paid)	$	1.1	$	(0.3)
Carrying value of receivables transferred and derecognized (1)	$	16.3	$	22.1
Obligations recorded	$	1.0	$	2.1
Loss recorded related to transfers of receivables	$	1.0	$	2.0

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(1)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 six months ended September 30, 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)	11.7		(1.8)		9.9
Reclassifications to net loss(1)	—		(18.0)		(18.0)
Reclassifications to noncontrolling interest(2)	5.2		(16.5)		(11.3)
September 30, 2024	$	(5.8)	$	102.4	$	96.6
March 31, 2023	$	(21.6)	$	142.5	$	120.9
Other comprehensive income (loss)	(1.4)		33.3		31.9
Reclassifications to net loss(1)	—		(16.4)		(16.4)
September 30, 2023	$	(23.0)	$	159.4	$	136.4

___________________

(1)Represents a loss of $1.2 million included in direct operating expense and a gain of $19.2 million included in interest expense on the unaudited condensed consolidated statement of operations in the six months ended September 30, 2024 (six months ended September 30, 2023 - gain of $0.1 million included in direct operating expense and a gain of $16.3 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).