0002006191-24-000019 | 10-Q | XBRL Viewer

(4.5)

(5.3)

0.8

Redeemable noncontrolling interests adjustment to redemption value

(39.0)

(71.0)

Ending balance (in shares) at Sep. 30, 2023

15.6

253.4

Ending balance at Sep. 30, 2023

(877.8)

(880.1)

$ 0.0

(997.2)

0.0

117.1

2.3

Beginning balance (in shares) at Jun. 30, 2023

253.4

Beginning balance at Jun. 30, 2023

(918.4)

(920.2)

$ 0.0

(1,039.5)

119.3

1.8

15.7

15.2

0.5

Redeemable noncontrolling interests adjustment to redemption value

92.1

(65.0)

Ending balance (in shares) at Sep. 30, 2023

(2.2)

253.4

Ending balance at Sep. 30, 2023

(877.8)

(880.1)

$ 0.0

(997.2)

0.0

117.1

2.3

Beginning balance (in shares) at Mar. 31, 2024

253.4

0.0

253.4

Beginning balance at Mar. 31, 2024

(1,150.2)

(1,152.4)

$ 0.0

(1,249.1)

0.0

96.7

2.2

$ (1,150.2)

$ (1,152.4)

$ 0.0

$ (1,249.1)

$ 96.7

$ 2.2

$ (1,249.1)

$ 1,249.1

(157.0)

(156.8)

(0.2)

Redeemable noncontrolling interests adjustment to redemption value

(55.2)

Noncontrolling interests

32.9

9.3

Share-based compensation, Lionsgate contribution post Separation, net of required tax withholding

(8.1)

8.1

$ 8.1

Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs (in shares)

35.3

Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs

281.6

$ 281.6

Ending balance (in shares) at Sep. 30, 2024

288.7

Ending balance at Sep. 30, 2024

(1,038.6)

(1,073.5)

$ 289.7

(1,451.8)

0.0

88.6

34.9

Beginning balance (in shares) at Jun. 30, 2024

288.7

Beginning balance at Jun. 30, 2024

(926.0)

(960.8)

$ 289.3

(1,339.2)

89.1

34.8

(113.2)

(113.4)

0.2

Redeemable noncontrolling interests adjustment to redemption value

(8.8)

Noncontrolling interests

(0.1)

9.6

Share-based compensation, Lionsgate contribution post Separation, net of required tax withholding

(0.5)

1.5

Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs

(1.1)

$ (1.1)

Ending balance (in shares) at Sep. 30, 2024

288.7

Ending balance at Sep. 30, 2024

$ (1,038.6)

$ (1,073.5)

$ 289.7

$ (1,451.8)

$ 0.0

$ 88.6

$ 34.9

[1]	Excludes redeemable noncontrolling interests, which are reflected in temporary equity (see Note 10).

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes In connection with the Business Combination, on May 13, 2024, the Company and Lionsgate entered into a tax matters agreement (the “Tax Matters Agreement”) that governs the parties’ respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, certain indemnification rights with respect to tax matters, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes. For periods prior to the Business Combination (including the period from April 1, 2024, through May 13, 2024), income taxes were calculated on a separate tax return basis. The separate tax return method applies the accounting guidance for income taxes to the standalone financial statements as if the Company was a separate taxpayer and standalone enterprise. The Company’s U.S. operations, and certain of its non-U.S. operations historically were included in the income tax returns of Lionsgate or its subsidiaries that may not be part of the Company. Management believes the assumptions supporting the Company’s allocation and presentation of income taxes on a separate tax return basis to be reasonable. For periods following the Business Combination (including the period from May 14, 2024, through September 30, 2024), income taxes were calculated by applying an estimated effective income tax rate to the Company’s ordinary income (loss), adjusted for the income tax effects of items that related discretely to the period, if any. The Company’s income tax expense for the three and six months ended September 30, 2024 and 2023 differed from the U.S. federal statutory corporate income tax rate of 21% multiplied by income (loss) before taxes due to the mix of earnings across the various jurisdictions in which operations are conducted, changes in valuation allowances against deferred tax assets, certain minimum income and foreign withholding taxes, charges for interest on uncertain tax benefits, and benefits from the releases of reserves for uncertain tax benefits due to the close of audits or expirations of statutes of limitations.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

Goodwill and Intangible Assets Disclosure [Abstract]

Investment in Films and Television Programs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Investment in Films And Television Programs [Abstract]
Acquired film and television libraries, unamortized costs	$ 258.3		$ 258.3		$ 223.1
Acquired libraries, remaining amortization period (in years)			13 years 7 months 6 days
Amortization of films and television programs and program rights	$ 487.4	$ 382.6	$ 717.9	$ 636.7

Goodwill (Tables)

6 Months Ended

Sep. 30, 2024

Schedule of Changes in Carrying Value of Goodwill by Reporting Segment

Changes in the carrying value of goodwill by reporting segment were as follows:


	Motion Picture		Television Production		Total
	(Amounts in millions)
Balance as of March 31, 2024	$	398.6	$	412.6	$	811.2
Measurement period adjustments(1)	(2.2)		(2.5)		(4.7)
Balance as of September 30, 2024	$	396.4	$	410.1	$	806.5

________________________

(1)Measurement period adjustments for the acquisition of eOne reflect a decrease to goodwill of $4.7 million resulting from an adjustment to the purchase price related to a settlement of certain working capital items of $12.0 million partially offset by a net decrease in the estimated fair value of the net assets acquired. The decrease in the estimated fair value of the net assets acquired consisted of a net decrease to accounts receivable of $4.6 million, a net decrease in investment in films and television programs of $1.6 million, net increases to content related payables of $3.4 million, participations and residuals of $0.4 million, and accrued and other liabilities of $0.2 million, partially offset by a net increase to other assets of $2.9 million.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency cash flow hedge gains estimated to be reclassified into earnings during next 12 months	$ 1.2
Interest rate swap cash flow hedge gain estimated to be reclassified into earnings during next 12 months	$ 23.4

Film Related Obligations - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Mar. 31, 2024
Production Loans	$ 1,244.8	$ 1,292.2
Accounts receivable	496.8	688.6
Total corporate debt	1,861.3	1,793.5
Unsecured Debt
Production Loans	205.7
Secured Debt
Production Loans	$ 1,039.1
Production Loans
Production loans or other loans, weighted average interest rate (as percent)	5.94%
Production Tax Credit Facility \| Revolving Credit Facility
Credit facility, maximum principal amount	$ 260.0
Collateral	344.2
Credit facility, available amount	$ 0.0
Production Tax Credit Facility \| Revolving Credit Facility \| SOFR
Effective interest rate (as percent)	6.45%
Production Tax Credit Facility \| Revolving Credit Facility \| SOFR \| Minimum
Basis spread on variable interest rate (as percent)	0.10%
Production Tax Credit Facility \| Revolving Credit Facility \| SOFR \| Maximum
Basis spread on variable interest rate (as percent)	0.25%
Production Tax Credit Facility \| Revolving Credit Facility \| Base Rate
Basis spread on variable interest rate (as percent)	0.50%
Production Tax Credit Facility \| Revolving Credit Facility \| Applicable Margin
Basis spread on variable interest rate (as percent)	1.50%
Film Library Facility \| Secured Debt
Credit facility, maximum principal amount	$ 161.9
Film Library Facility \| Secured Debt \| SOFR
Effective interest rate (as percent)	7.17%
Film Library Facility \| Secured Debt \| SOFR \| Minimum
Basis spread on variable interest rate (as percent)	0.11%
Floor on SOFR (as percent)	0.25%
Film Library Facility \| Secured Debt \| SOFR \| Maximum
Basis spread on variable interest rate (as percent)	0.26%
Film Library Facility \| Secured Debt \| Base Rate
Basis spread on variable interest rate (as percent)	1.25%
Film Library Facility \| Secured Debt \| Applicable Margin
Basis spread on variable interest rate (as percent)	2.25%
Backlog Facility \| Secured Debt
Credit facility, maximum principal amount	$ 175.0
Credit facility, available amount	0.0
Credit facility, outstanding amount	$ 160.2	175.0
Backlog Facility \| Secured Debt \| SOFR
Effective interest rate (as percent)	6.10%
Backlog Facility \| Secured Debt \| Applicable Margin
Basis spread on variable interest rate (as percent)	1.15%
Backlog Facility \| Revolving Credit Facility
Debt instrument, term	2 years 90 days
Backlog Facility \| Revolving Credit Facility \| SOFR \| Minimum
Basis spread on variable interest rate (as percent)	0.10%
Backlog Facility \| Revolving Credit Facility \| SOFR \| Maximum
Basis spread on variable interest rate (as percent)	0.25%
Backlog Facility \| Revolving Credit Facility \| Applicable Margin \| Minimum
Basis spread on variable interest rate (as percent)	1.25%
Backlog Facility \| Revolving Credit Facility \| Applicable Margin \| Maximum
Basis spread on variable interest rate (as percent)	1.50%
Distribution Loan Agreement \| Loans Payable
Production loans or other loans, weighted average interest rate (as percent)	6.18%
Loan amount	$ 113.0	112.3
Accounts receivable	72.7
Other receivables	65.6
Distribution Agreement Loan One \| Loans Payable
Loan amount	55.1
Distribution Agreement Loan Two \| Loans Payable
Loan amount	57.9
Programming Notes \| Starz Business
Total corporate debt	$ 67.9	$ 0.0

Debt - Lionsgate Exchange Notes and Existing Notes - Narrative (Details) - USD ($) $ in Millions	May 08, 2024	Sep. 30, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Total corporate debt		$ 1,861.3	$ 1,793.5
Exchange Notes \| Senior Notes
Debt Instrument [Line Items]
Debt conversion, original debt, amount	$ 389.9
Coupon rate (as percent)	5.50%
Exchange Notes \| Senior Notes \| Maximum
Debt Instrument [Line Items]
Coupon rate (as percent)	6.00%
Existing Notes \| Senior Notes
Debt Instrument [Line Items]
Coupon rate (as percent)	5.50%
Exchange Notes and Existing Notes \| Senior Notes
Debt Instrument [Line Items]
Total corporate debt		$ 715.0	$ 715.0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

Revenue from Contract with Customer [Abstract]

Revenue

6 Months Ended

Sep. 30, 2024

Revenue

11. Revenue

Revenue by Segment, Market or Product Line

The table below presents revenues by segment, market or product line for the three and six months ended September 30, 2024 and 2023. The Motion Picture and Television Production segments include the revenues of eOne from the acquisition date of December 27, 2023 (see Note 3).


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Revenue by Type:
Motion Picture
Theatrical	$	20.1	$	28.2	$	56.1	$	94.1
Home Entertainment
Digital Media	114.5		165.7		254.6		339.8
Packaged Media	12.5		16.1		21.8		42.0
Total Home Entertainment	127.0		181.8		276.4		381.8
Television	108.7		100.8		196.7		149.3
International	148.0		79.7		216.0		160.7
Other	3.3		5.4		8.8		16.6
Total Motion Picture revenues(1)	407.1		395.9		754.0		802.5

Television Production
Television	313.1		221.8		473.2		371.9
International	49.7		73.6		85.5		105.6
Home Entertainment
Digital Media	34.3		84.2		53.2		96.0
Packaged Media	0.5		0.3		1.3		0.7
Total Home Entertainment	34.8		84.5		54.5		96.7
Other	19.0		14.0		44.8		38.2
Total Television Production revenues(2)	416.6		393.9		658.0		612.4

Total revenues	$	823.7	$	789.8	$	1,412.0	$	1,414.9

________________

(1)Total Motion Picture revenues for the three months ended September 30, 2024 and 2023 includes $72.1 million and $60.5 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business. Total Motion Picture revenues for the six months ended September 30, 2024 and 2023 includes $136.3 million and $77.1 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business.

(2)Total Television Production revenues for the three months ended September 30, 2024 and 2023 includes $149.9 million and $130.3 million, respectively, of revenues from licensing Television Production segment product to the Starz Business. Total Television Production revenues for the six months ended September 30, 2024 and 2023 includes $189.4 million and $211.3 million, respectively, of revenues from licensing Television Production segment product to the Starz Business.

Remaining Performance Obligations

Remaining performance obligations represent deferred revenue on the balance sheet plus fixed fee or minimum guarantee contracts where the revenue will be recognized and the cash received in the future (i.e., backlog). Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2024 are as follows:


	Rest of Year Ending March 31,		Year Ending March 31,
	2025		2026		2027		Thereafter		Total
	(Amounts in millions)
Remaining Performance Obligations	$	824.0	$	781.8	$	114.4	$	58.6	$	1,778.8

The above table does not include estimates of variable consideration for transactions involving sales or usage-based royalties in exchange for licenses of intellectual property. The revenues included in the above table include all fixed fee contracts regardless of duration.

Revenues of $68.6 million and $157.9 million, respectively, including variable and fixed fee arrangements, were recognized during the three and six months ended September 30, 2024, from performance obligations satisfied prior to March 31, 2024. These revenues were primarily associated with the distribution of television and theatrical product in electronic sell-through and video-on-demand formats, and to a lesser extent, the distribution of theatrical product in the domestic and international markets related to films initially released in prior periods.

Accounts Receivable, Contract Assets and Deferred Revenue

The timing of revenue recognition, billings and cash collections affects the recognition of accounts receivable, contract assets and deferred revenue. See the unaudited condensed consolidated balance sheets or Note 19 for accounts receivable, contract assets and deferred revenue balances at September 30, 2024 and March 31, 2024.

Accounts Receivable. Accounts receivable are presented net of a provision for doubtful accounts. The Company estimates provisions for accounts receivable based on historical experience for the respective risk categories and current and future expected economic conditions. To assess collectability, the Company analyzes market trends, economic conditions, the aging of receivables and customer specific risks, and records a provision for estimated credit losses expected over the lifetime of the receivables in direct operating expense.

The Company performs ongoing credit evaluations and monitors its credit exposure through active review of customers’ financial condition, aging of receivable balances, historical collection trends, and expectations about relevant future events that may significantly affect collectability. The Company generally does not require collateral for its trade accounts receivable.

Changes in the provision for doubtful accounts consisted of the following:


	March 31, 2024		(Benefit) provision for doubtful accounts		Other(1)		Uncollectible accounts written-off		September 30, 2024
	(Amounts in millions)
Provision for doubtful accounts	$	6.4	$	(1.1)	$	2.5	$	(1.0)	$	6.8

_____________

(1) Represents a measurement period adjustment to the provision for doubtful accounts acquired in the acquisition of eOne (see Note 3).

Contract Assets. Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Amounts relate primarily to contractual payment holdbacks in cases in which the Company is required to deliver additional episodes or seasons of television content in order to receive payment, complete certain administrative activities, such as guild filings, or allow the Company’s customers’ audit rights to expire. See Note 19 for contract assets at September 30, 2024 and March 31, 2024.

Deferred Revenue. Deferred revenue relates primarily to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Revenues of $34.5 million and $108.6 million, respectively, were recognized during the three and six months ended September 30, 2024, related to the balance of deferred revenue at March 31, 2024.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

Share-Based Payment Arrangement [Abstract]

Capital Stock (Tables)

6 Months Ended

Sep. 30, 2024

Schedule of Share-Based Compensation Expense

The Company recognized the following share-based compensation expense 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)
Compensation Expense:
Stock options	$	0.2	$	0.5	$	0.4	$	0.9
Restricted share units and other share-based compensation	8.2		12.9		16.3		20.3
Share appreciation rights	0.2		0.1		0.3		0.2
Total Lionsgate Studios employee share-based compensation expense	8.6		13.5		17.0		21.4
Corporate allocation of share-based compensation	6.7		3.9		10.9		7.6
	15.3		17.4		27.9		29.0
Impact of accelerated vesting on equity awards(1)	4.6		—		4.6		0.5
Total share-based compensation expense	$	19.9	$	17.4	$	32.5	$	29.5

___________________

(1)Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements prior to the Separation.

Share-based compensation expense, by expense category, consisted of the following:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Share-Based Compensation Expense:
General and administration	$	15.3	$	17.4	$	27.9	$	29.0
Restructuring and other	4.6		—		4.6		0.5
	$	19.9	$	17.4	$	32.5	$	29.5

Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity

The following table sets forth the stock option, share appreciation rights (“SARs”), restricted stock and restricted share unit activity at Lionsgate for grants related directly to the Company employees and Lionsgate corporate and shared service employees during the six months ended September 30, 2024:


	Stock Options and SARs							Restricted Stock and Restricted Share Units
	Lions Gate Class A Voting Shares			Lions Gate Class B Non-Voting Shares				Lions Gate Class A Voting Shares				Lions Gate Class B Non-Voting Shares
	Number of Shares	Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Grant-Date Fair Value		Number of Shares	Weighted-Average Grant-Date Fair Value
	(Number of shares in millions)
Outstanding at March 31, 2024	2.4	$	22.96	17.1		$	13.92	0.1		$	9.27	9.8	$	8.93
Granted	—	—		—		—		—		—		7.8	$	7.99
Options exercised or restricted stock or RSUs vested	—	—		—	(1)	$	7.13	—	(1)	$	11.45	(5.7)	$	8.79
Forfeited or expired	(0.1)	$	20.26	(2.1)		$	14.86	—		—		(0.2)	$	9.35
Outstanding at September 30, 2024	2.3	$	23.10	15.0		$	13.80	0.1		$	8.98	11.7	$	8.21

_____________________

(1)Represents less than 0.1 million shares.

Debt - Other Debt Transactions - Narrative (Details) - Term Loans - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2024	May 31, 2024
LGTV Term Loan A
Extinguishment of Debt [Line Items]
Principal amount of debt prepaid		$ 84.9
LGTV Term Loan B
Extinguishment of Debt [Line Items]
Principal amount of debt prepaid	$ 355.1	$ 214.1

Debt

6 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt

7. Debt

Total debt of the Company, excluding film related obligations, was as follows:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Intercompany Revolver	$	80.4	$	—
Intercompany Note:
LGTV Revolver (1)	421.5		575.0
LGTV Term Loan A(1)	314.4		399.3
LGTV Term Loan B(1)	250.0		819.2
eOne IP Credit Facility	340.0		—
LG IP Credit Facility	455.0		—
Total corporate debt	1,861.3		1,793.5
Unamortized debt issuance costs	(18.9)		(10.2)
Total debt, net	1,842.4		1,783.3
Less current portion	(443.0)		(860.3)
Non-current portion of debt	$	1,399.4	$	923.0

________________________

(1)As of March 31, 2024, amounts reflect the balances outstanding under Lionsgate’s Credit Agreement (including the revolving credit facility, term loan A and term loan B, together referred to as the “Lionsgate Senior Credit Facilities”) prior to the Company’s entry into the Intercompany Note with LGCH described below.

Intercompany Note and Intercompany Revolver

Intercompany Revolver. In connection with the Separation and Business Combination, on May 13, 2024, LGAC International LLC, a Delaware limited liability company and wholly owned consolidated subsidiary of the Company (“LGAC International”) and Lions Gate Capital Holdings 1, Inc., a Delaware corporation and subsidiary of Lionsgate (“LGCH1”), which is not a consolidated subsidiary of Lionsgate Studios, entered into a revolving credit agreement (the “Intercompany Revolver”), pursuant to which LGAC International and LGCH1 agreed to make revolving loans to each other from time to time, provided that the net amount owing by one party to the other at any particular time may not exceed $150.0 million. Amounts advanced by one party will be used to repay existing indebtedness owing to the other party thereunder, if any, such that at no time will amounts be owing in both directions. The net amount owing under the Intercompany Revolver, at any time, shall bear interest on the outstanding principal amount at a rate equal to adjusted term SOFR plus 1.75%. The Intercompany Revolver will, among other things, terminate in connection with a full separation of the Studio and Starz Businesses.

Intercompany Note. In connection with the Separation and Business Combination, on May 8, 2024, Lions Gate Capital Holdings LLC, a Delaware limited liability company and subsidiary of Lionsgate (“LGCH”), which is not a consolidated subsidiary of Lionsgate Studios, as lender, entered into an intercompany note and assumption agreement (the “Intercompany Note”) with Lions Gate Television Inc., a Delaware corporation and wholly owned consolidated subsidiary of the Company (“LGTV”), as borrower and assuming party.

Pursuant to the Intercompany Note, LGTV is able to borrow up to $1.1 billion from LGCH on a revolving basis (the “LGTV Revolver”). LGTV also assumed balances of $399.3 million in term A loans (“LGTV Term Loan A”) and $819.2 million in term B loans (“LGTV Term Loan B” and together with the LGTV Revolver and the LGTV Term Loan A, the “LGTV Loans”). Assumed balances of the LGTV Term Loan A and LGTV Term Loan B reflected the outstanding balances of Lionsgate’s term loan A and term loan B under the credit and guarantee agreement dated December 8, 2016, as amended (the “Lionsgate Credit Agreement”). The terms of the Intercompany Note provide that the outstanding obligations and debt service requirements (principal and interest payments) of the Company remain substantially similar to the amounts and terms reflected in historical periods prior to the Separation.

LGTV Revolver Availability of Funds & Commitment Fee. The Company’s borrowing capacity under the LGTV Revolver is $1.1 billion, and as of September 30, 2024 there was $678.5 million available thereunder. LGTV is required to pay a quarterly commitment fee on the revolving credit facility of 0.250% to 0.375% per annum, depending on Lionsgate’s achievement of certain leverage ratios, as defined in the Lionsgate Credit Agreement.

Maturity Date:

•LGTV Revolver & LGTV Term Loan A: April 6, 2026.

•LGTV Term Loan B: March 24, 2025.

Interest:

•LGTV Revolver & LGTV Term Loan A: The LGTV Revolver and LGTV Term Loan A bear interest at a rate per annum equal to SOFR plus 0.10% plus 1.75% margin (or an alternative base rate plus 0.75%), with a SOFR floor of zero. The margin is subject to potential increases of up to 50 basis points (two increases of 25 basis points each) upon certain increases to net first lien leverage ratios, as defined in the Lionsgate Credit Agreement (effective interest rate of 6.70% as of September 30, 2024, before the impact of interest rate swaps, see Note 18 for interest rate swaps).

•LGTV Term Loan B: The LGTV Term Loan B bears interest at a rate per annum equal to SOFR plus 0.10% plus 2.25% margin, with a SOFR floor of zero (or an alternative base rate plus 1.25% margin) (effective interest rate of 7.20% as of September 30, 2024, before the impact of interest rate swaps).

Required Principal Payments:

•LGTV Term Loan A: Principal payments are required in an amount equal to LGTV’s pro rata share (as determined by LGCH in its reasonable discretion) of the principal payments due and payable under the Lionsgate Credit Agreement. The Lionsgate Credit Agreement requires quarterly principal payments, at quarterly rates of 1.75% and increasing to 2.50% beginning September 30, 2024 through March 31, 2026, with the balance payable at maturity.

•LGTV Term Loan B: Principal payments are required in an amount equal to LGTV’s pro rata share (as determined by LGCH in its reasonable discretion) of the principal payments due and payable under the Lionsgate Credit Agreement. The Lionsgate Credit Agreement requires quarterly principal payments, at a quarterly rate of 0.25%, with the balance payable at maturity.

The LGTV Term Loan A and LGTV Term Loan B also require mandatory prepayments in the event LGCH is required to make a mandatory repayment pursuant to the terms of the Lionsgate Credit Agreement. The Lionsgate Credit Agreement requires repayment in connection with certain asset sales, subject to certain significant exceptions. The

LGTV Term Loan B is subject to additional mandatory repayment of its pro rata share (as determined by LGCH) from specified percentages of excess cash flow, as defined in the Lionsgate Credit Agreement.

Optional Prepayment:

•LGTV Revolver LGTV Term Loan A & LGTV Term Loan B: The Company may voluntarily prepay the LGTV Loans at any time without premium or penalty.

Guarantee and Security Matters. The Company and certain of its subsidiaries continue to be guarantors under the Lionsgate Senior Credit Facilities. The Lionsgate Senior Credit Facilities are secured by a security interest in substantially all of the assets of Lionsgate and the Guarantors (as defined in the Credit Agreement), subject to certain exceptions. The Intercompany Note and the Intercompany Revolver are not secured obligations of the obligors thereunder. In the event the Company and its subsidiaries that are Guarantors cease to be Guarantors under the Lionsgate Senior Credit Facilities, LGCH has the right to cause the Company and such subsidiaries to take actions to become guarantors under the Intercompany Note and provide security over property or assets previously pledged under the Lionsgate Senior Credit Facilities.

Covenants. The Intercompany Note contains representations and warranties, events of default and affirmative and negative covenants that are customary for similar financings. In addition, the Intercompany Note requires the Company observe and perform each of the covenants set forth in the Lionsgate Credit Agreement which include, among other things and subject to certain significant exceptions, restrictions on the ability to declare or pay dividends, create liens, incur additional indebtedness, make investments, dispose of assets and merge or consolidate with any other person. In addition, a net first lien leverage maintenance covenant and an interest coverage ratio maintenance covenant apply to the Lionsgate Credit Agreement and are tested quarterly by Lionsgate. These covenants and ratios are applicable to and computed for the applicable entities pursuant to the Lionsgate Credit Agreement, which includes Lionsgate subsidiaries which are not part of the Company. As of September 30, 2024, the Company and Lionsgate were in compliance with all applicable covenants.

Sale Transaction or Change of Control. LGTV is required to prepay the LGTV Loans immediately prior to or simultaneously with the closing of any Sale Transaction or Change of Control, as defined in the Intercompany Note.

eOne IP Credit Facility

In July 2024, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "eOne IP Credit Facility") based on and secured by the Company’s intellectual property rights primarily associated with certain titles acquired as part of the eOne acquisition. The maximum principal amount of the eOne IP Credit Facility is $340.0 million, subject to the amount of collateral available, which is based on the valuation of unsold rights from the libraries. The eOne IP Credit Facility is subject to quarterly required principal payments of $8.5 million, beginning November 14, 2024, with the balance payable at maturity. Advances under the eOne IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum (effective interest rate of 7.10% as of September 30, 2024, before the impact of interest rate swaps, see Note 18 for interest rate swaps). The eOne IP Credit Facility matures on July 3, 2029.

LG IP Credit Facility

In September 2024, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "LG IP Credit Facility") based on and secured by the Company’s intellectual property rights primarily associated with certain titles. The maximum principal amount of the LG IP Credit Facility is $455.0 million, subject to the amount of collateral available, which is based on the valuation of unsold rights from the libraries. The LG IP Credit Facility is subject to quarterly required principal payments of $11.375 million, beginning February 14, 2025, with the balance payable at maturity. Advances under the LG IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum (effective interest rate of 7.10% as of September 30, 2024, before the impact of interest rate swaps, see Note 19 for interest rate swaps). The LG IP Credit Facility matures on September 30, 2029. See Note 21 - Subsequent Events for the November 2024 increase in maximum principal amount of the LG IP Credit Facility and subsequent borrowings.

Lionsgate Exchange Notes and Existing Notes:

On May 8, 2024, LGCH1, an indirect, wholly-owned subsidiary of Lionsgate, which is not a consolidated subsidiary of Lionsgate Studios, issued $389.9 million aggregate principal amount of 5.5% senior notes due 2029 (the “Exchange Notes”) in exchange for an equivalent amount of Lionsgate’s existing 5.5% senior notes due 2029 (the “Existing Notes”). The Exchange Notes initially bear interest at 5.5% annually and mature April 15, 2029, with the interest rate increasing to 6.0% and the maturity date extending to April 15, 2030 effective upon Lionsgate’s completion of the separation of the Starz Business from the Studio Business. Lionsgate may redeem the Exchange Notes, in whole at any time, or in part from time to time, prior to or on and after the Separation Closing Date, as defined in the indenture governing the Exchange Notes, at certain specified redemption prices set forth in the indenture governing the Exchange Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date.

The Exchange Notes and Existing Notes and related interest expense are not reflected in the Company’s unaudited condensed consolidated financial statements. The Company and certain of its subsidiaries are guarantors under the Exchange Notes and the Existing Notes. Upon completion of the separation of the Starz Business from the Studio Business, the Exchange Notes will become obligations of the Company and will be reflected in the Company’s financial statements at that time.

The outstanding principal balance of the Exchange Notes and Existing Notes totaled $715.0 million at September 30, 2024 and March 31, 2024.

As of September 30, 2024, Lionsgate was in compliance with all applicable covenants with respect to the Exchange Notes and the Existing Notes.

Other Debt Transactions

LGTV Term Loan A and LGTV Term Loan B Prepayment. In May 2024, the Company used the proceeds from the Business Combination to prepay $84.9 million principal amount of the LGTV Term Loan A and $214.1 million of the LGTV Term Loan B, together with accrued and unpaid interest thereon.

In September 2024, the Company used the proceeds from the LG IP Credit Facility to prepay $355.1 million principal amount of the LGTV Term Loan B, together with accrued and unpaid interest thereon.

See Note 21 - Subsequent Events for the November 2024 repayment in full of the remaining principal amount of the LGTV Term Loan B.

Loss on Extinguishment of Debt

During the three and six months ended September 30, 2024 and 2023, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below.


	Three Months Ended September 30,				Six Months Ended September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Loss on Extinguishment of Debt:
Term Loan A and Term Loan B repayment(1)	$	(0.5)	$	—	$	(1.5)	$	—

________________________

(1)See LGTV Term Loan A and LGTV Term Loan B Prepayment above.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions - Schedule of Pro Forma Statement of Operations Information (Details) - eOne - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Revenues	$ 900.2	$ 1,667.6
Net income (loss) attributable to Lionsgate Studios Corp.	$ 31.7	$ (279.4)

Business Combination (Tables)

6 Months Ended

Sep. 30, 2024

Schedule of Reverse Recapitalization

The following table presents the number of LG Studios Common Shares issued in connection with the Closing:


						Number of LG Studios Common Shares Issued

Shares issued to SEAC public shareholders(1)						7,027,873
Shares issued to SEAC Sponsor and its permitted transferees(2)						2,010,000
Shares issued to PIPE Investors(3)						25,759,430
Additional shares issued (4)						448,127
Total shares issued in Business Combination and related transactions						35,245,430
Shares issued to Lionsgate (5)						253,435,794
Total Lionsgate Studios Common Shares following the Closing of the Business Combination						288,681,224

______________

(1) Reflects 7,027,873 LG Studios Common Shares issued to holders of Class A ordinary shares of SEAC (the “SEAC Class A Ordinary Shares”) which were subject to possible redemption. This reflects the 75,000,000 SEAC Class A Ordinary Shares outstanding as of March 31, 2024, net of 67,972,127 SEAC Class A Ordinary Shares which were redeemed prior to the Closing for $730.1 million in aggregate at a weighted average redemption price of $10.745 per share.

(2) Reflects 2,010,000 LG Studios Common Shares issued to Eagle Equity Partners V, LLC (the “SEAC Sponsor”) and its permitted transferees in connection with their SEAC Class A Ordinary Shares held after the conversion of their Class B ordinary shares of SEAC (the “SEAC Class B Ordinary Shares”) and repurchase of 16,740,000 SEAC Class B Ordinary Shares pursuant to the Sponsor Securities Repurchase, as described below, prior to the Business Combination. The number of LG Studios Common Shares issued excludes options issued in the Sponsor Securities Repurchase described below, for the purchase of 2,200,000 LG Studios Common Shares subject to certain vesting restrictions pursuant to the Sponsor Option Agreement described below.

(3) Reflects 14,141,559 LG Studios Common Shares issued at a purchase price of $9.63 per share and 11,617,871 LG Studios Common Shares issued at a purchase price of $10.165 per share, to certain institutional and accredited investors (the “PIPE Investors”) pursuant to subscription agreements as described below. Amounts exclude 1,953,976 PIPE Shares for which Reduction Rights as described below were exercised.

(4) Reflects 254,200 LG Studios Common Shares issued pursuant to share purchase and/or non-redemption agreements (the “Non-Redemption Agreements”) SEAC and New SEAC entered into with certain investors prior to the Business Combination and 193,927 LG Studios Common Shares issued to certain PIPE Investors for which Reduction Rights, as described below, were exercised.

(5) Reflects 253,435,794 LG Studios Common Shares issued to Lionsgate through a series of transactions, including an amalgamation of StudioCo and New SEAC, as consideration for the cancellation and exchange of each then issued and outstanding common share, without par value, of StudioCo. Under the recapitalization accounting, these shares are reflected as issued and outstanding as of the beginning of the earliest period presented in the unaudited condensed consolidated statements of equity (deficit).

The following table presents and reconciles elements of the Business Combination and related transactions to the consolidated statement of cash flows and the consolidated statement of equity (deficit) for the six months ended September 30, 2024 (amounts in millions):


Gross cash proceeds from SEAC trust account, net of redemptions (1)	$	75.7
Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised(2)	254.3
Total gross cash proceeds	330.0
Less: SEAC warrant exchange payment (3)	(12.5)
Less: SEAC transaction costs	(20.1)
Less: Lionsgate Studios transaction costs	(15.8)
Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit)	281.6
Add: Transaction costs accrued and not paid, net of transaction costs previously paid	1.5
Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows	$	283.1

______________

(1) Reflects the remaining $75.7 million in SEAC’s trust account, established at the consummation of SEAC’s initial public offering, after redemptions. As described above, 7,027,873 LG Studios Common Shares were issued to holders of SEAC Class A Ordinary Shares which were subject to possible redemption and not redeemed prior to the Closing.

(2) Reflects the gross proceeds from the issuance of 25,759,430 LG Studios Common Shares to PIPE Investors, net of Reduction Rights exercised.

(3) Prior to the Closing, each of the then issued and outstanding whole warrants of SEAC, sold as part of SEAC’s initial public offering (the “SEAC Public Warrants”) was automatically exchanged for $0.50 in cash pursuant to the terms of an amendment to the agreement governing the SEAC Public Warrants. As of the Closing, no SEAC Public Warrants were outstanding.

Related Party Transactions

6 Months Ended

Sep. 30, 2024

Related Party Transactions

20. Related Party Transactions

In connection with the Separation and in the normal course of business, the Company enters into transactions with Lionsgate and the Starz Business which include the following, which unless otherwise indicated prior to the Separation were settled through parent net investment at the time of the transaction:

Lionsgate corporate general and administrative expenses: As described in Note 1, in connection with the Business Combination, the Company and Lionsgate entered into the Shared Services Agreement which took effect upon the Closing. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to Lionsgate. During the three and six months ended September 30, 2024, $28.1 million and $59.2 million, respectively, of Lionsgate corporate general and administrative expenses, excluding amounts related to share-based compensation discussed below, were allocated to the Company. Of the total amount allocated to the Company during three and six months ended September 30, 2024, $28.1 million and $45.0 million was allocated to the Company after the Separation pursuant to the Shared Services Agreement. Prior to the Separation, during the six months ended September 30, 2024, $14.2 million of corporate expenses were allocated to the Company (three and six months ended September 30, 2023 - $26.5 million and $51.0 million, respectively).

Share- based compensation: The Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of LG Studios will continue to receive awards of equity and equity-based compensation pursuant to the existing equity incentive plans of Lionsgate. Such awards are treated as a capital contribution by Lionsgate to LG Studios, and the share-based compensation expense for such awards is allocated to LG Studios.

Prior to the Separation, Lionsgate provided share-based compensation related to the Studio Business employees and as part of its corporate expense allocations a proportionate amount of the share-based compensation related to those corporate functions is allocated to the Studio Business.

Licensing of content to the Starz Business: The Company licenses motion pictures and television programming (including Starz original productions) to the Starz Business. The license fees generally are due upon delivery or due at a point in time following the first showing. Prior to the Separation, license fee amounts due were settled with the Starz Business through parent net investment. License fees receivable, not yet due from the Starz Business, are reflected in due from the Starz Business on the unaudited condensed consolidated balance sheets. The consideration to which the Company is entitled under the license agreements with the Starz Business is included in revenue from contracts with customers and presented separately in the unaudited condensed consolidated statements of operations (see Note 11).

Operating expense reimbursement: As previously described in Note 1, the Company pays certain expenses on behalf of the Starz Business such as certain rent expense, employee benefits, insurance and other administrative operating costs. The Starz Business also pays certain expenses on behalf of the Company such as legal expenses, software development costs and severance. See “Transactions with Lionsgate” below for further discussion of the settlement of these transactions. These expenditures are reflected in the financial statements of the Studio Business and the Starz Business as applicable.

Monetization of certain accounts receivables: The Company had an agreement with Starz for Starz to transfer certain accounts receivables to the Company to participate in the Company’s pooled monetization arrangement, which matured on October 1, 2023. The Company purchased the transferred receivables at fair value and recorded them at the purchased amount on its balance sheet and classified the purchase price paid in parent net investment (see Note 19). The accounts receivables purchased from the Starz Business were historically pledged as collateral under this agreement. Any discount on the purchase of the receivable from the Starz Business was accreted to interest income over the period to collection of the accounts receivable. The accounts receivable purchased from the Starz Business and subsequent collections were reflected as investing activities in the unaudited condensed consolidated statements of cash flows.

Transactions with Lionsgate

Prior to the Separation, Lionsgate utilized a centralized approach to cash management. Cash generated by the Studio Business was managed by Lionsgate’s centralized treasury function and cash was routinely transferred to the Company or to the Starz Business to fund operating activities when needed. Payables to and receivables from Lionsgate, primarily related to the Starz Business, were often settled through movement to the intercompany accounts between Lionsgate, the Starz Business and the Studio Business. Other than certain specific balances related to unsettled payables or receivables, the intercompany balances between the Studio Business and Lionsgate were accounted for as parent net investment.

Because of this centralized approach to cash management, financial transactions for cash movement and the settlement of payables and receivables when due with Lionsgate were generally accounted for through the parent net investment account. Settlements of amounts payable and receivable when due through the parent net investment account were reflected as cash

payments or receipts for the applicable operating transaction within operating activities, with the net change in parent net investment included within financing activities in the unaudited condensed consolidated statements of cash flows.

The net transfers to and from Lionsgate through the period prior to the Separation discussed above were as follows:


	Six Months Ended
	September 30,
	2024		2023


Cash pooling and general financing activities	$	87.9	$	(133.2)
Licensing of content(1)	9.7		266.1
Corporate reimbursements	(5.3)		2.0
Corporate expense allocations (excluding allocation of share-based compensation)	2.3		13.9
Funding of purchases of accounts receivables held for collateral	—		(85.6)
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	$	94.6	$	63.2
Share-based compensation (including allocation of share-based compensation)	(6.0)		(29.5)
Other non-cash transfer(2)	(33.4)		5.3
Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit)	$	55.2	$	39.0

___________________

(1)Reflects the settlement of amounts due from the Starz Business related to the Company’s licensing arrangements with the Starz Business.

(2)Includes a non-cash transfer of debt through Parent net investment of $35.0 million in connection with the Separation in the six months ended September 30, 2024.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combination

6 Months Ended

Sep. 30, 2024

Business Combination

2. Business Combination

As discussed in Note 1, on May 13, 2024 (the “Closing Date”) the Company consummated the transactions contemplated by the Business Combination (the “Closing”).

The following table presents the number of LG Studios Common Shares issued in connection with the Closing:


						Number of LG Studios Common Shares Issued

Shares issued to SEAC public shareholders(1)						7,027,873
Shares issued to SEAC Sponsor and its permitted transferees(2)						2,010,000
Shares issued to PIPE Investors(3)						25,759,430
Additional shares issued (4)						448,127
Total shares issued in Business Combination and related transactions						35,245,430
Shares issued to Lionsgate (5)						253,435,794
Total Lionsgate Studios Common Shares following the Closing of the Business Combination						288,681,224

______________


Gross cash proceeds from SEAC trust account, net of redemptions (1)	$	75.7
Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised(2)	254.3
Total gross cash proceeds	330.0
Less: SEAC warrant exchange payment (3)	(12.5)
Less: SEAC transaction costs	(20.1)
Less: Lionsgate Studios transaction costs	(15.8)
Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit)	281.6
Add: Transaction costs accrued and not paid, net of transaction costs previously paid	1.5
Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows	$	283.1

______________

(2) Reflects the gross proceeds from the issuance of 25,759,430 LG Studios Common Shares to PIPE Investors, net of Reduction Rights exercised.

PIPE Investment

Concurrently with the execution of the Business Combination Agreement, SEAC, New SEAC and Lionsgate entered into subscription agreements with PIPE Investors (the “Initial Subscription Agreements”) pursuant to which PIPE Investors agreed to purchase from the Company an aggregate of 18,172,378 LG Studios Common Shares (the “Initial PIPE Shares”), at a purchase price of $9.63 per share, immediately following the Closing.

Pursuant to the Initial Subscription Agreements, certain PIPE Investors elected to offset their commitment under their Initial Subscription Agreement (the “Reduction Right”) with respect to 1,953,976 PIPE Shares, which reduced the Initial PIPE Shares to 16,218,402 shares. PIPE Investors that exercised Reduction Rights were entitled to purchase from SEAC a fractional share of newly issued SEAC Class A Ordinary Shares at a nominal purchase price for every SEAC Class A Ordinary Share for which it exercised its Reduction Right, and resulted in 193,927 newly issued SEAC Class A Ordinary Shares being issued, which ultimately resulted in 193,927 LG Studios Common Shares as reflected in the table above.

Prior to the close of the Business Combination, SEAC, New SEAC and Lionsgate entered into additional subscription agreements with additional PIPE Investors pursuant to which such PIPE Investors agreed to purchase from the Company an aggregate of 11,617,871 LG Studios Common Shares at a purchase price of $10.165 per share, immediately following the Closing.

The aggregate gross proceeds from the PIPE Investment received at the Closing was $254.3 million, which amount excludes an aggregate of approximately $20.0 million that remains due from a PIPE Investor that subscribed for 2,076,843 LG Studios Common Shares pursuant to the Initial Subscription Agreements and which shares, as of September 30, 2024, are pending issuance subject to receipt of such amount.

Sponsor Option; Lions Gate Parent Issuance and Sponsor Issuance

In connection with the Business Combination, SEAC repurchased 16,740,000 of the SEAC Class B Ordinary Shares, representing the SEAC Class B Ordinary Shares in excess of 1,800,000 held by SEAC Sponsor (the “Sponsor Securities Repurchase”), in exchange for an aggregate of $1.00 and 2,200,000 options of SEAC (the “SEAC Sponsor Options”) each of which entitled SEAC Sponsor to purchase one SEAC Class A Ordinary Share at $0.0001 per share, (the “Sponsor Option Agreement”). In connection with the Business Combination, the SEAC Sponsor Options ultimately became options to purchase LG Studios Common Shares pursuant to the terms of the Sponsor Option Agreement, see Note 13. After the repurchase of the SEAC Class B Ordinary Shares, there were 2,010,000 SEAC Class B Ordinary Shares outstanding (consisting of the 1,800,000 and 210,000 of SEAC Class B Ordinary Shares held by the SEAC Sponsor and the independent directors and advisors, respectively) which automatically converted into SEAC Class A Ordinary Shares and were exchanged for 2,010,000 LG Studios Common Shares as reflected in the table above.

Non-Redemption Agreements

In connection with the Business Combination, SEAC and New SEAC entered into non-redemption agreements with certain investors (the “Non-Redemption Investors”), pursuant to which Non-Redemption Investors who met the terms and conditions set forth in the non-redemption agreement were entitled to purchase from SEAC a fractional share of newly issued SEAC Class A Ordinary Shares at a nominal purchase price for every Purchase Commitment Share, as defined in the non-redemption agreement, purchased. As a result, 254,200 newly issued SEAC Class A Ordinary Shares were issued to the Non-Redemption Investors, ultimately 254,200 LG Studios Common Shares as reflected in the table above.

Intercompany Note Repayment

Following the close of the Business Combination, the Company transferred the aggregate transaction proceeds less the SEAC warrant exchange payment and SEAC transaction expenses, in cash to Lionsgate in partial repayment of the Intercompany Note, see Note 7.

Capital Stock - Narrative (Details) - $ / shares	Sep. 30, 2024	May 13, 2024	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)	288,700,000		253,400,000
Common shares exceeds price per share (in dollars per share)	$ 16.05
SEAC Sponsor Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)		2,200,000
Sponsor Option Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)		$ 0.0001

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Sep. 30, 2024

Schedule of Derivative Instruments Outstanding

As of September 30, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 19 months from September 30, 2024):


September 30, 2024
Foreign Currency	Foreign Currency Amount			US Dollar Amount		Weighted Average Exchange Rate Per $1 USD
	(Amounts in millions)			(Amounts in millions)
Czech Koruna	180.0	CZK	in exchange for	$	7.7	23.29	CZK
Euro	14.8	EUR	in exchange for	$	16.6	0.90	EUR
Canadian Dollar	15.0	CAD	in exchange for	$	11.1	1.35	CAD
Mexican Peso	199.1	MXN	in exchange for	$	10.4	19.73	MXN
Hungarian Forint	1,498.7	HUF	in exchange for	$	3.9	371.46	HUF
New Zealand Dollar	3.6	NZD	in exchange for	$	2.3	1.64	NZD

Designated Cash Flow Hedges. As of September 30, 2024 and March 31, 2024, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company’s SOFR-based debt, see Note 7 and Note 8).


Effective Date	Notional Amount	Fixed Rate Paid	Maturity Date
	(in millions)
May 23, 2018	$300.0	2.915%	March 24, 2025
May 23, 2018	$700.0	2.915%	March 24, 2025
June 25, 2018	$200.0	2.723%	March 23, 2025
July 31, 2018	$300.0	2.885%	March 23, 2025
December 24, 2018	$50.0	2.744%	March 23, 2025
December 24, 2018	$100.0	2.808%	March 23, 2025
December 24, 2018	$50.0	2.728%	March 23, 2025
August 15, 2024 (1)	$65.0	4.045%	September 15, 2026
August 15, 2024 (1)	$77.5	3.803%	August 15, 2026
August 15, 2024 (1)	$77.5	3.810%	September 15, 2026
Total	$1,920.0

___________________

(1)Entered into during the three months ended September 30, 2024.

Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income (Loss), Location And Effect

The following table presents the pre-tax effect of the Company’s derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for 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)
Derivatives designated as cash flow hedges:
Forward exchange contracts
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	0.8	$	(0.6)	$	1.0	$	(3.1)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense	$	(0.2)	$	(0.4)	$	(1.2)	$	0.1
Interest rate swaps
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	(6.3)	$	9.3	$	(2.8)	$	36.4
Gain reclassified from accumulated other comprehensive income (loss) into interest expense	$	11.4	$	10.9	$	22.3	$	20.1

Derivatives not designated as cash flow hedges:
Interest rate swaps
Loss reclassified from accumulated other comprehensive income (loss) into interest expense	$	(1.5)	$	(1.8)	$	(3.1)	$	(3.8)

Total direct operating expense on consolidated statements of operations	$	628.2	$	510.5	$	983.8	$	872.5
Total interest expense on consolidated statements of operations	$	63.0	$	51.7	$	121.6	$	101.6

Schedule of Amounts Recorded in Accompanying Unaudited Condensed Consolidated Balance Sheets Related to Use of Derivatives

As of September 30, 2024 and March 31, 2024, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company’s use of derivatives:


	September 30, 2024
	Other Current Assets		Other Accrued Liabilities (current)		Other Liabilities (non-current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	—	$	0.6	$	—
Interest rate swaps	12.2		—		(1.7)
Fair value of derivatives	$	12.2	$	0.6	$	(1.7)


	March 31, 2024
	Other Current Assets		Other Accrued Liabilities (current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	—	$	2.8
Interest rate swaps	35.6		—
Fair value of derivatives	$	35.6	$	2.8

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Schedule of Total Debt, Excluding Film Related Obligations

Debt - Intercompany Note and Intercompany Revolver - Narrative (Details) $ in Millions		6 Months Ended
	May 13, 2024 USD ($)	Sep. 30, 2024 USD ($) increase	May 08, 2024 USD ($)	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Total corporate debt		$ 1,861.3		$ 1,793.5
Revolving Credit Facility \| Lions Gate Television Inc. \| Minimum
Debt Instrument [Line Items]
Commitment fee (as percent)		0.25%
Revolving Credit Facility \| Lions Gate Television Inc. \| Maximum
Debt Instrument [Line Items]
Commitment fee (as percent)		0.375%
Intercompany Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt		$ 80.4		0.0
Intercompany Revolver \| Revolving Credit Facility \| Lions Gate Television Inc.
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 150.0
Intercompany Revolver \| Revolving Credit Facility \| Lions Gate Television Inc. \| SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)	1.75%
LGTV Revolver \| Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt		421.5		575.0
LGTV Revolver \| Revolving Credit Facility \| Lions Gate Television Inc.
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		1,100.0
Credit facility, available amount		$ 678.5
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc.
Debt Instrument [Line Items]
Number of possible increases in margin \| increase		2
Effective interest rate (as percent)		6.70%
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc. \| SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.10%
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc. \| SOFR \| Minimum
Debt Instrument [Line Items]
Coupon rate (as percent)		0.00%
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc. \| Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		1.75%
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc. \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.75%
LGTV Term Loan A \| Revolving Credit Facility \| Lions Gate Television Inc. \| LIBOR
Debt Instrument [Line Items]
Potential increases in interest rate upon certain increases to leverage ratios, total		0.50%
Potential increase in interest rate upon certain increases to leverage ratios, per increase		0.25%
LGTV Term Loan A \| Term Loans
Debt Instrument [Line Items]
Total corporate debt		$ 314.4		399.3
LGTV Term Loan A \| Term Loans \| Lions Gate Television Inc.
Debt Instrument [Line Items]
Total corporate debt			$ 399.3
Quarterly principal payment (as percent)		1.75%
Quarterly principal payment percent, year two		2.50%
LGTV Term Loan B \| Term Loans
Debt Instrument [Line Items]
Total corporate debt		$ 250.0		$ 819.2
LGTV Term Loan B \| Term Loans \| Lions Gate Television Inc.
Debt Instrument [Line Items]
Total corporate debt			$ 819.2
Effective interest rate (as percent)		7.20%
Quarterly principal payment (as percent)		0.25%
LGTV Term Loan B \| Term Loans \| Lions Gate Television Inc. \| SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.10%
LGTV Term Loan B \| Term Loans \| Lions Gate Television Inc. \| SOFR \| Minimum
Debt Instrument [Line Items]
Coupon rate (as percent)		0.00%
LGTV Term Loan B \| Term Loans \| Lions Gate Television Inc. \| Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		2.25%
LGTV Term Loan B \| Term Loans \| Lions Gate Television Inc. \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		1.25%

Related Party Transactions - Schedule of Net Transfers (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	$ 94.6	$ 63.2
Related Party
Related Party Transaction [Line Items]
Cash pooling and general financing activities	87.9	(133.2)
Licensing of content	9.7	266.1
Corporate reimbursements	(5.3)	2.0
Corporate expense allocations (excluding allocation of share-based compensation)	2.3	13.9
Funding of purchases of accounts receivables held for collateral	0.0	(85.6)
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	94.6	63.2
Share-based compensation (including allocation of share-based compensation)	(6.0)	(29.5)
Other non-cash transfer	(33.4)	5.3
Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit)	55.2	$ 39.0
Transfers to parent, net	$ 35.0

Debt (Tables)

6 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Total debt of the Company, excluding film related obligations, was as follows:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Intercompany Revolver	$	80.4	$	—
Intercompany Note:
LGTV Revolver (1)	421.5		575.0
LGTV Term Loan A(1)	314.4		399.3
LGTV Term Loan B(1)	250.0		819.2
eOne IP Credit Facility	340.0		—
LG IP Credit Facility	455.0		—
Total corporate debt	1,861.3		1,793.5
Unamortized debt issuance costs	(18.9)		(10.2)
Total debt, net	1,842.4		1,783.3
Less current portion	(443.0)		(860.3)
Non-current portion of debt	$	1,399.4	$	923.0

________________________

Schedule of Loss on Extinguishment of Debt

During the three and six months ended September 30, 2024 and 2023, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below.


	Three Months Ended September 30,				Six Months Ended September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Loss on Extinguishment of Debt:
Term Loan A and Term Loan B repayment(1)	$	(0.5)	$	—	$	(1.5)	$	—

________________________

(1)See LGTV Term Loan A and LGTV Term Loan B Prepayment above.

Restructuring and Other (Tables)

6 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other

During the three and six months ended September 30, 2024 and 2023, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for 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)
Restructuring and other:
Other impairments(1)	$	0.5	$	—	$	18.5	$	—
Severance(2)	1.1		1.0		4.1		3.5
Transaction and other costs(3)	5.6		3.9		12.3		5.5
Total Restructuring and Other	7.2		4.9		34.9		9.0

Other unusual charges not included in restructuring and other or the Company’s operating segments:
COVID-19 related charges (benefit) included in direct operating expense(4)	—		(0.5)		(2.1)		(0.4)
Unallocated rent cost included in direct operating expense(5)	5.2		—		10.5		—
Total restructuring and other and other unusual charges not included in restructuring and other	$	12.4	$	4.4	$	43.3	$	8.6

_______________________

(1)Amounts in the three and six months ended September 30, 2024 include impairments of certain operating lease right-of-use and leasehold improvement assets related to the Television Production segment associated with facility leases that will no longer be utilized by the Company primarily related to the integration of eOne.

(2)Severance costs were primarily related to restructuring, acquisition integration activities and other cost-saving initiatives.

(3)Transaction and other costs in the three and six months ended September 30, 2024 and 2023 reflect transaction, integration and legal costs associated with certain strategic transactions, and restructuring activities and also include costs and benefits associated with legal and other matters.

(4)Amounts include incremental costs incurred, if any, due to circumstances associated with the COVID-19 global pandemic, net of insurance recoveries of nil and $2.1 million in the three and six months ended September 30, 2024, respectively (three and six months ended September 30, 2023 - insurance recoveries of $0.5 million and $0.5 million, respectively). In the six months ended September 30, 2024 and the three and six months ended September 30, 2023, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense.

(5)Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments.

Changes in the restructuring and other severance liability were as follows for the six months ended September 30, 2024 and 2023:


	Six Months Ended
	September 30,
	2024		2023
	(Amounts in millions)
Severance liability
Beginning balance	$	19.3	$	3.7
Accruals(2)	(0.5)		3.0
Severance payments	(11.4)		(5.1)
Ending balance(1)	$	7.4	$	1.6

_______________________

(1)As of September 30, 2024, the remaining severance liability of approximately $7.4 million is expected to be paid in the next 12 months.

(2)Excludes $4.6 million and $0.5 million in the six months ended September 30, 2024 and 2023, respectively, of accelerated vesting on equity awards.

Subsequent Events	6 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	21. Subsequent Events On November 6, 2024, the Company closed an amendment to its LG IP Credit Facility which increased the maximum principal amount of the LG IP Credit Facility to $720.0 million. The Company borrowed $265.0 million under the LG IP Credit Facility, and used the net proceeds to pay in full the remaining $250.0 million principal amount of the LGTV Term Loan B, together with accrued and unpaid interest thereon.

Investments

6 Months Ended

Sep. 30, 2024

Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]

Investments

5. Investments

The Company’s investments consisted of the following:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Investments in equity method investees	$	71.3	$	68.4
Other investments	6.4		6.4
	$	77.7	$	74.8

Equity Method Investments:

The Company has investments in various equity method investees with ownership percentages ranging from approximately 6% to 49%. These investments include:

Spyglass. Spyglass is a global premium content company, focused on developing, producing, financing and acquiring motion pictures and television programming across all platforms for worldwide audiences.

STARZPLAY Arabia. STARZPLAY Arabia (Playco Holdings Limited) offers a STARZ-branded online subscription video-on-demand service in the Middle East and North Africa.

Roadside Attractions. Roadside Attractions is an independent theatrical distribution company.

Pantelion Films. Pantelion Films is a joint venture with Videocine, an affiliate of Televisa, which produces, acquires and distributes a slate of English and Spanish language feature films that target Hispanic moviegoers in the U.S.

42. 42 is a fully integrated management and production company, producing film, television and content, representing actors, writers, directors, comedians, presenters, producers, casting directors and media book rights; with offices in London and Los Angeles.

Other. In addition to the equity method investments discussed above, the Company holds ownership interests in other immaterial equity method investees.

Acquisitions (Tables)

6 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Preliminary Allocation of Purchase Price to the Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price to the assets acquired and liabilities assumed (including measurement period adjustments recorded through September 30, 2024, see Note 6), and a reconciliation to total consideration transferred is presented in the table below:


	(Amounts in millions)
Cash and cash equivalents	$	54.1
Accounts receivable	294.2
Investment in films and television programs	370.2
Property and equipment	14.0
Intangible assets	4.0
Other assets(1)	171.1
Accounts payable and accrued liabilities	(67.7)
Content related payable	(38.8)
Participations and residuals(1)	(202.4)
Film related obligations(1)	(105.8)
Other liabilities and deferred revenue (1)	(130.7)
Preliminary fair value of net assets acquired	362.2
Goodwill	10.9
Preliminary purchase price consideration at September 30, 2024	$	373.1

______________

(1) Includes current and non-current amounts.

Schedule of Pro Forma Statement of Operations Information

The following unaudited pro forma condensed consolidated statement of operations information presented below illustrates the results of operations of the Company as if the acquisition of eOne as described above occurred on April 1, 2023. The unaudited pro forma condensed consolidated financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition had occurred on April 1, 2023, nor is it indicative of future results. The statement of operations information below includes the

statement of operations of eOne for the three and six months ended September 30, 2023 combined with the Company's statement of operations for the three and six months ended September 30, 2023, respectively.


	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2023		2023
			(Amounts in millions)
Revenues	$	900.2	$	1,667.6
Net income (loss) attributable to Lionsgate Studios Corp.	31.7		(279.4)

Business Combination - Schedule of Number of Common Shares Issued in Connection with Closing of Business Combination (Details) - USD ($) $ / shares in Units, $ in Millions			6 Months Ended
	May 13, 2024	May 12, 2024	Sep. 30, 2024	Mar. 31, 2024
Business Combination Segment Allocation [Line Items]
Additional shares issued (in shares)	448,127
Total shares issued in Business Combination and related transactions (in shares)	35,245,430
Shares issued to Lionsgate (in shares)	253,435,794
Total outstanding (in shares)	288,681,224
Common shares, shares issued (in shares)			288,700,000	253,400,000
Number of shares issued in transactions (in shares)		254,200
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	254,200
SEAC \| Lions Gate Class A Voting Shares
Business Combination Segment Allocation [Line Items]
Total outstanding (in shares)				75,000,000
Shares repurchased during period (in shares)		67,972,127
Stock repurchased		$ 730.1
Shares repurchased during period, price per share (in dollars per share)		$ 10.745
SEAC \| Lions Gate Class B Non-Voting Shares
Business Combination Segment Allocation [Line Items]
Total outstanding (in shares)	2,010,000
Shares repurchased during period (in shares)	16,740,000
SEAC Sponsor Options
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	2,010,000
Common shares, shares issued (in shares)	2,200,000
PIPE Investors
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	25,759,430		16,218,402
Number of shares issued in transactions (in shares)	18,172,378
Number of shares excluded for reduction rights (in shares)	1,953,976
PIPE Investors \| Offering One
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	14,141,559
Sale of stock, share price (in dollars per share)	$ 9.63
PIPE Investors \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	11,617,871
Sale of stock, share price (in dollars per share)	$ 10.165
PIPE Investors \| Lions Gate Class A Voting Shares \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	193,927

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 811.2
Measurement period adjustments	(4.7)
Goodwill, ending balance	806.5
Adjustment to purchase price related to settlement of certain working capital items	12.0	$ 0.0
eOne
Goodwill [Roll Forward]
Measurement period adjustments	4.7
Goodwill, ending balance	(10.9)
Decrease to accounts receivable	4.6
Decrease in investment in films and television programs	1.6
Increase to content related payables	3.4
Decrease to participation and residuals	0.4
Increase in accrued and other liabilities	0.2
Increase to other assets	2.9
Motion Picture
Goodwill [Roll Forward]
Goodwill, beginning balance	398.6
Measurement period adjustments	(2.2)
Goodwill, ending balance	396.4
Television Production
Goodwill [Roll Forward]
Goodwill, beginning balance	412.6
Measurement period adjustments	(2.5)
Goodwill, ending balance	$ 410.1

Restructuring and Other

6 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Other

15. Restructuring and Other

Restructuring and other includes restructuring and severance costs and certain transaction and other costs, when applicable. During the three and six months ended September 30, 2024 and 2023, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for 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)
Restructuring and other:
Other impairments(1)	$	0.5	$	—	$	18.5	$	—
Severance(2)	1.1		1.0		4.1		3.5
Transaction and other costs(3)	5.6		3.9		12.3		5.5
Total Restructuring and Other	7.2		4.9		34.9		9.0

Other unusual charges not included in restructuring and other or the Company’s operating segments:
COVID-19 related charges (benefit) included in direct operating expense(4)	—		(0.5)		(2.1)		(0.4)
Unallocated rent cost included in direct operating expense(5)	5.2		—		10.5		—
Total restructuring and other and other unusual charges not included in restructuring and other	$	12.4	$	4.4	$	43.3	$	8.6

_______________________

(2)Severance costs were primarily related to restructuring, acquisition integration activities and other cost-saving initiatives.

(5)Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments.

Changes in the restructuring and other severance liability were as follows for the six months ended September 30, 2024 and 2023:


	Six Months Ended
	September 30,
	2024		2023
	(Amounts in millions)
Severance liability
Beginning balance	$	19.3	$	3.7
Accruals(2)	(0.5)		3.0
Severance payments	(11.4)		(5.1)
Ending balance(1)	$	7.4	$	1.6

_______________________

(1)As of September 30, 2024, the remaining severance liability of approximately $7.4 million is expected to be paid in the next 12 months.

(2)Excludes $4.6 million and $0.5 million in the six months ended September 30, 2024 and 2023, respectively, of accelerated vesting on equity awards.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Sep. 30, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	288.7	253.4

Acquisitions - Narrative (Details) $ in Millions			3 Months Ended	6 Months Ended
Acquisitions - Narrative (Details) $ in Millions	Jun. 05, 2024 USD ($) film	Dec. 27, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)
Business Acquisition [Line Items]
Number of films acquired \| film	46
Variable interest entity, initial consolidation, gain (loss)	$ 0.0
Total assets			$ 5,261.4	$ 5,261.4		$ 5,103.0
Liabilities			6,200.3	6,200.3		$ 6,129.9
Variable Interest Entity, Primary Beneficiary
Business Acquisition [Line Items]
Total assets			85.1	85.1
Liabilities			16.6	16.6
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	68.6
Film and Television Library \| CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	48.3
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Consideration transferred	$ 35.0
Percentage of voting interests acquired	51.00%
eOne
Business Acquisition [Line Items]
Consideration transferred		$ 385.1	$ 373.1	$ 373.1
Pro forma impairment of goodwill and trade name at eOne					$ 296.2
eOne \| Trade Names
Business Acquisition [Line Items]
Weighted average useful life (in years)		5 years
eOne \| Minimum \| Film and Television Library
Business Acquisition [Line Items]
Weighted average useful life (in years)		5 years
eOne \| Maximum \| Film and Television Library
Business Acquisition [Line Items]
Weighted average useful life (in years)		10 years
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	49.00%

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue	$ 823.7	$ 789.8	$ 1,412.0	$ 1,414.9
Expenses:
Direct operating	628.2	510.5	983.8	872.5
Distribution and marketing	134.0	107.5	226.6	236.9
General and administration	84.9	87.1	177.0	175.5
Depreciation and amortization	4.2	3.8	8.8	8.0
Restructuring and other	7.2	4.9	34.9	9.0
Total expenses	858.5	713.8	1,431.1	1,301.9
Operating income (loss)	(34.8)	76.0	(19.1)	113.0
Interest expense	(63.0)	(51.7)	(121.6)	(101.6)
Interest and other income	3.3	2.9	8.4	5.1
Other expense	(13.8)	(10.0)	(15.2)	(13.7)
Loss on extinguishment of debt	(0.5)	0.0	(1.5)	0.0
Loss on investments, net	0.0	(1.6)	0.0	(1.7)
Equity interests income (loss)	(0.1)	1.8	0.8	1.5
Income (loss) before income taxes	(108.9)	17.4	(148.2)	2.6
Income tax provision	(5.1)	(3.9)	(10.1)	(10.4)
Net income (loss)	(114.0)	13.5	(158.3)	(7.8)
Less: Net loss attributable to noncontrolling interests	0.6	1.7	1.5	2.5
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$ (113.4)	$ 15.2	$ (156.8)	$ (5.3)
Per share information attributable to Lionsgate Studios Corp. shareholders:
Basic net income (loss) per common share (in dollars per share)	$ (0.39)	$ 0.06	$ (0.56)	$ (0.02)
Diluted net income (loss) per common share (in dollars per share)	$ (0.39)	$ 0.06	$ (0.56)	$ (0.02)
Weighted average number of common shares outstanding:
Basic (in shares)	288.7	253.4	280.6	253.4
Diluted (in shares)	288.7	253.4	280.6	253.4
Nonrelated Party
Revenue	$ 601.7	$ 599.0	$ 1,086.3	$ 1,126.5
Related Party
Revenue	$ 222.0	$ 190.8	$ 325.7	$ 288.4

Description of Business, Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions			5 Months Ended	6 Months Ended
	May 13, 2024	May 09, 2024	Sep. 30, 2024	Sep. 30, 2024
Business Acquisition [Line Items]
Proceeds from reverse recapitalization transaction			$ 330.0
Proceeds from the PIPE investment	$ 254.3		254.3	$ 254.3
Repayments of long-term debt			$ 299.0
Related Party \| General and Administrative Expenses Allocated to Parent
Business Acquisition [Line Items]
Amounts of transaction		$ 10.0
Screaming Eagle \| Studio Business
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	12.20%

Investment in Films and Television Programs (Tables)

6 Months Ended

Sep. 30, 2024

Investment in Films And Television Programs [Abstract]

Schedule of Total Investment in Films and Television Programs

Total investment in films and television programs is as follows:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Investment in Films and Television Programs:
Released, net of accumulated amortization	$	1,051.8	$	992.2
Completed and not released	115.8		225.4
In progress	1,097.9		644.4
In development	79.1		67.0
Investment in films and television programs, net	$	2,344.6	$	1,929.0

Schedule of Impairments by Segment

Investment in films and television programs includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for 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)
Impairments by segment:
Included in direct operating expense(1):
Motion Picture	$	18.3	$	26.8	$	18.5	$	27.0
Television Production	—		5.4		—		5.4
Impairments not included in segment operating results
Included in restructuring and other	(0.5)		—		(0.5)		—
	$	17.8	$	32.2	$	18.0	$	32.4

________________________

(1)Impairments included in direct operating expense are included in the amortization expense amounts disclosed above.

Debt - LG IP Credit Facility - Narrative (Details) - Secured Debt - LG IP Credit Facility - Line of Credit $ in Thousands	1 Months Ended
	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum principal amount	$ 455,000
Periodic payment, principal	$ 11,375
Basis spread on variable interest rate (as percent)	2.25%
Effective interest rate (as percent)	7.10%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Additional Financial Information - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2019	Sep. 30, 2024	Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Employee-related liabilities		$ 25.2	$ 116.2
Individual Monetization Agreements \| Trade Accounts Receivable
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derecognized accounts receivable for which the company continues to service, amount outstanding		490.5	449.2
Pooled Monetization Agreements \| Trade Accounts Receivable
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derecognized accounts receivable for which the company continues to service, amount outstanding		$ 0.0	$ 0.0
Revolving agreement, maximum amount of receivables allowed to transfer	$ 100.0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Schedule of Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis

Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of September 30, 2024 and March 31, 2024:


	September 30, 2024						March 31, 2024
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:	(Amounts in millions)
Interest rate swaps (see Note 18)	$	—	$	12.2	$	12.2	$	—	$	35.6	$	35.6

Liabilities:
Forward exchange contracts (see Note 18)	—		(0.6)		(0.6)		—		(2.8)		(2.8)
Interest rate swaps (see Note 18)	—		(1.7)		(1.7)		—		—		—

Schedule of Carrying Values and Fair Values of Company’s Outstanding Debt, Film Related Obligations, and Interest Rate Swaps

The following table sets forth the carrying values and fair values of the Company’s outstanding debt and film related obligations at September 30, 2024 and March 31, 2024:


	September 30, 2024				March 31, 2024
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Intercompany Revolver	$	80.4	$	80.4	$	—	$	—
LGTV Revolver	417.6		421.5		569.9		575.0
LGTV Term Loan A	312.9		312.9		396.6		397.3
LGTV Term Loan B	249.7		249.7		816.9		818.1
eOne IP Credit Facility	334.0		340.0		—		—
LG IP Credit Facility	447.9		455.0		—		—
Production Loans	1,239.4		1,244.8		1,286.2		1,292.2
Production Tax Credit Facility	259.6		260.0		258.7		260.0
Backlog Facility and Other	271.9		273.2		285.4		287.3
Film Library Facility	92.3		94.2		107.6		109.9

________________

(1)The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as SOFR-based yield curves, swap rates, and credit ratings (Level 2 measurements).

Segment Information - Schedule of Purchase Accounting and Related Adjustments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	$ 2.8	$ 3.6	$ 5.9	$ 15.2
General and Administrative Expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	1.7	2.2	3.8	12.4
General and Administrative Expense \| Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	1.8	2.2	3.8	12.4
Purchase accounting and related adjustments, amortization of purchase price				1.3
Depreciation and Amortization Expense \| Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	$ 1.0	$ 1.4	$ 2.1	$ 2.8

Additional Financial Information - Schedule of Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (1,150.2)	$ (778.9)
Other comprehensive income (loss)	9.9	32.0
Reclassifications to net loss	(18.0)	(16.4)
Ending balance	(1,038.6)	(877.8)
Income tax expense (benefit) reflected in other comprehensive income	0.0	0.0
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(42.1)	(41.1)
Other comprehensive income (loss)	11.7	(1.3)
Reclassifications to net loss	0.0	0.0
Ending balance	(30.4)	(42.4)
Net unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	138.8	142.6
Other comprehensive income (loss)	(1.8)	33.3
Reclassifications to net loss	(18.0)	(16.4)
Ending balance	119.0	159.5
Net unrealized gain (loss) on cash flow hedges \| Direct Operating Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	1.2	(0.1)
Net unrealized gain (loss) on cash flow hedges \| Interest Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	(19.2)	(16.3)
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	96.7	101.5
Ending balance	$ 88.6	$ 117.1

Fair Value Measurements - Schedule of Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Assets:
Interest rate swaps (see Note 18)	$ 12.2	$ 35.6
Fair Value, Measurements, Recurring
Assets:
Interest rate swaps (see Note 18)	12.2	35.6
Liabilities:
Forward exchange contracts (see Note 18)	(0.6)	(2.8)
Interest rate swaps (see Note 18)	(1.7)	0.0
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Interest rate swaps (see Note 18)	0.0	0.0
Liabilities:
Forward exchange contracts (see Note 18)	0.0	0.0
Interest rate swaps (see Note 18)	0.0	0.0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
Interest rate swaps (see Note 18)	12.2	35.6
Liabilities:
Forward exchange contracts (see Note 18)	(0.6)	(2.8)
Interest rate swaps (see Note 18)	$ (1.7)	$ 0.0

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477439/946-210-55-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 30: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5C

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483466/210-20-50-3

Reference 28: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-22

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483444/210-20-55-10

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Additional Financial Information - Schedule of Receivables Transferred Under Pooled Monetization Agreement (Details) - Trade Accounts Receivable - Pooled Monetization Agreements - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Transfer of Financial Assets Accounted for as Sales [Line Items]
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	16.3	22.1
Obligations recorded	1.0	2.1
Loss recorded related to transfers of receivables	$ 1.0	$ 2.0

Additional Financial Information - Schdule of Receivables Transferred Under Individual Agreements or Purchases (Details) - Individual Monetization Agreements - Trade Accounts Receivable - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Carrying value of receivables transferred and derecognized	$ 186.4	$ 196.2	$ 293.8	$ 300.5
Net cash proceeds received	181.7	187.3	285.8	288.9
Loss recorded related to transfers of receivables	$ 4.7	$ 8.9	$ 8.0	$ 11.6

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Share-Based Payment Arrangement [Abstract]

Revenue - Schedule of Revenues by Segment, Market or Product Line (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 823.7	$ 789.8	$ 1,412.0	$ 1,414.9
Motion Picture
Disaggregation of Revenue [Line Items]
Revenue	407.1	395.9	754.0	802.5
Television Production
Disaggregation of Revenue [Line Items]
Revenue	416.6	393.9	658.0	612.4
Operating Segments \| Motion Picture
Disaggregation of Revenue [Line Items]
Revenue	407.1	395.9	754.0	802.5
Operating Segments \| Motion Picture \| Starz Business
Disaggregation of Revenue [Line Items]
Revenue	72.1	60.5	136.3	77.1
Operating Segments \| Motion Picture \| Theatrical
Disaggregation of Revenue [Line Items]
Revenue	20.1	28.2	56.1	94.1
Operating Segments \| Motion Picture \| Total Home Entertainment
Disaggregation of Revenue [Line Items]
Revenue	127.0	181.8	276.4	381.8
Operating Segments \| Motion Picture \| Digital Media
Disaggregation of Revenue [Line Items]
Revenue	114.5	165.7	254.6	339.8
Operating Segments \| Motion Picture \| Packaged Media
Disaggregation of Revenue [Line Items]
Revenue	12.5	16.1	21.8	42.0
Operating Segments \| Motion Picture \| Television
Disaggregation of Revenue [Line Items]
Revenue	108.7	100.8	196.7	149.3
Operating Segments \| Motion Picture \| International
Disaggregation of Revenue [Line Items]
Revenue	148.0	79.7	216.0	160.7
Operating Segments \| Motion Picture \| Other
Disaggregation of Revenue [Line Items]
Revenue	3.3	5.4	8.8	16.6
Operating Segments \| Television Production
Disaggregation of Revenue [Line Items]
Revenue	416.6	393.9	658.0	612.4
Operating Segments \| Television Production \| Starz Business
Disaggregation of Revenue [Line Items]
Revenue	149.9	130.3	189.4	211.3
Operating Segments \| Television Production \| Total Home Entertainment
Disaggregation of Revenue [Line Items]
Revenue	34.8	84.5	54.5	96.7
Operating Segments \| Television Production \| Digital Media
Disaggregation of Revenue [Line Items]
Revenue	34.3	84.2	53.2	96.0
Operating Segments \| Television Production \| Packaged Media
Disaggregation of Revenue [Line Items]
Revenue	0.5	0.3	1.3	0.7
Operating Segments \| Television Production \| Television
Disaggregation of Revenue [Line Items]
Revenue	313.1	221.8	473.2	371.9
Operating Segments \| Television Production \| International
Disaggregation of Revenue [Line Items]
Revenue	49.7	73.6	85.5	105.6
Operating Segments \| Television Production \| Other
Disaggregation of Revenue [Line Items]
Revenue	$ 19.0	$ 14.0	$ 44.8	$ 38.2

Business Combination - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			5 Months Ended	6 Months Ended
	May 13, 2024	May 12, 2024	Sep. 30, 2024	Sep. 30, 2024	Mar. 31, 2024
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)		254,200
Proceeds from the PIPE investment	$ 254.3		$ 254.3	$ 254.3
Proceeds due from the PIPE investment	$ 20.0
Common stock, shares outstanding (in shares)	288,681,224
Common stock, shares issued (in shares)			288,700,000	288,700,000	253,400,000
Common Shares
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)				193,927
PIPE Investors
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	18,172,378
Number of shares excluded for reduction rights (in shares)	1,953,976
Number of shares issued (in shares)	25,759,430			16,218,402
Number of shares pending issuance (in shares)	2,076,843
PIPE Investors \| Offering One
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	14,141,559
Sale of stock, share price (in dollars per share)	$ 9.63
PIPE Investors \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	11,617,871
Sale of stock, share price (in dollars per share)	$ 10.165
PIPE Investors \| Class A Ordinary Share \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	193,927
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC \| Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	254,200
SEAC \| Class A Ordinary Share
Business Combination Segment Allocation [Line Items]
Shares repurchased during period (in shares)		67,972,127
Common stock, shares outstanding (in shares)					75,000,000
Shares repurchased during period, price per share (in dollars per share)		$ 10.745
SEAC \| Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Shares repurchased during period (in shares)	16,740,000
Common stock, shares outstanding (in shares)	2,010,000
Sponsor Securities Repurchase
Business Combination Segment Allocation [Line Items]
Shares issued, price per share (in dollars per share)	$ 1.00
Sponsor Securities Repurchase \| Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Common stock, shares outstanding (in shares)	1,800,000
SEAC Sponsor Options
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	2,010,000
Common stock, shares issued (in shares)	2,200,000
Sponsor Option Agreement
Business Combination Segment Allocation [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Sponsor Agreements with Independent Directors and Advisors \| Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Common stock, shares outstanding (in shares)	210,000

Cover - shares	6 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 04, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-42102
Entity Registrant Name	Lionsgate Studios Corp.
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	250 Howe Street
Entity Address, Address Line Two	20th Floor
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6C 3R8
City Area Code	877
Local Phone Number	848-3866
Title of 12(b) Security	Common Shares, no par value per share
Trading Symbol	LION
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		288,681,224
Entity Central Index Key	0002006191
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Amendment Flag	false
Principal Executive Offices
Document Information [Line Items]
Entity Address, Address Line One	2700 Colorado Avenue
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404

Additional Financial Information - Schedule of Composition of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Other current assets
Prepaid expenses and other	$ 44.6	$ 34.8
Restricted cash	48.0	43.7
Contract assets	56.6	59.9
Interest rate swap assets	12.2	35.6
Tax credits receivable	166.6	199.1
Other current assets	328.0	373.1
Other non-current assets
Prepaid expenses and other	13.8	18.3
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	307.0	344.3
Other non-current assets	$ 779.3	$ 852.9

Segment Information - Schedule of Reconciliation of Segment General and Administrative Expense to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	$ 39.8	$ 41.0	$ 86.1	$ 83.1
General and administration	84.9	87.1	177.0	175.5
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	39.8	41.0	86.1	83.1
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Corporate general and administrative expenses	28.1	26.5	59.2	51.0
Corporate and Reconciling Items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	2.8	3.6	5.9	15.2
General and Administrative Expense
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	1.7	2.2	3.8	12.4
General and Administrative Expense \| Corporate and Reconciling Items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Share-based compensation expense included in general and administrative expense	15.3	17.4	27.9	29.0
Purchase accounting and related adjustments	$ 1.8	$ 2.2	$ 3.8	$ 12.4

Capital Stock

6 Months Ended

Sep. 30, 2024

Capital Stock

13. Capital Stock

(a) Common Shares

The Company has an unlimited number of authorized shares following the closing of the Business Combination and at September 30, 2024. As of September 30, 2024, common shares reserved for future issuance include SEAC Sponsor Options described below.

As of March 31, 2024 and prior to the Business Combination, the Company was wholly-owned by Lionsgate.

(b) SEAC Sponsor Options

In connection with the Business Combination, 2,200,000 SEAC Sponsor Options to receive LG Studios Common Shares pursuant to the Sponsor Option Agreement, as described in Note 2, were issued and have an exercise price of $0.0001 per share. The SEAC Sponsor Options will become exercisable (i) on or after the date on which the trading price of LG Studios Common Shares (as adjusted for share splits, share dividends, reorganizations, recapitalizations and the like) equals or exceeds $16.05 per share or (ii) if a Change of Control (as defined in the Sponsor Option Agreement) occurs, subject to certain conditions. The SEAC Sponsor Options are not considered compensatory nor were they granted in exchange for a good or service. The SEAC Sponsor Options meet the requirements for equity classification because they are considered to be indexed to LG Studios Common Shares and are classified in shareholders’ equity. The Company has recorded the SEAC Sponsor Options to equity at closing of the Business Combination in connection with the reverse recapitalization accounting described at Note 2.

As described in Note 1, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company receive awards of equity and equity-based compensation pursuant to the existing equity incentive plan of Lionsgate, the Lions Gate Entertainment Corp. 2023 Performance Incentive Plan (the “2023 Lionsgate Plan”). Such awards will be treated as a capital contribution by Lionsgate to the Company, and the stock based compensation expenses for such awards will be allocated to the Company

Prior to the Separation, the unaudited condensed consolidated financial statements included an allocation of share-based compensation expense attributable to corporate and shared service functions.

The following disclosures of unit data are based on grants related directly to Company employees and Lionsgate corporate and shared employees, and exclude unit data related to employees of the Starz Business.

The Company recognized the following share-based compensation expense 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)
Compensation Expense:
Stock options	$	0.2	$	0.5	$	0.4	$	0.9
Restricted share units and other share-based compensation	8.2		12.9		16.3		20.3
Share appreciation rights	0.2		0.1		0.3		0.2
Total Lionsgate Studios employee share-based compensation expense	8.6		13.5		17.0		21.4
Corporate allocation of share-based compensation	6.7		3.9		10.9		7.6
	15.3		17.4		27.9		29.0
Impact of accelerated vesting on equity awards(1)	4.6		—		4.6		0.5
Total share-based compensation expense	$	19.9	$	17.4	$	32.5	$	29.5

___________________

(1)Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements prior to the Separation.

Share-based compensation expense, by expense category, consisted of the following:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Share-Based Compensation Expense:
General and administration	$	15.3	$	17.4	$	27.9	$	29.0
Restructuring and other	4.6		—		4.6		0.5
	$	19.9	$	17.4	$	32.5	$	29.5


	Stock Options and SARs							Restricted Stock and Restricted Share Units
	Lions Gate Class A Voting Shares			Lions Gate Class B Non-Voting Shares				Lions Gate Class A Voting Shares				Lions Gate Class B Non-Voting Shares
	Number of Shares	Weighted-Average Exercise Price		Number of Shares		Weighted-Average Exercise Price		Number of Shares		Weighted-Average Grant-Date Fair Value		Number of Shares	Weighted-Average Grant-Date Fair Value
	(Number of shares in millions)
Outstanding at March 31, 2024	2.4	$	22.96	17.1		$	13.92	0.1		$	9.27	9.8	$	8.93
Granted	—	—		—		—		—		—		7.8	$	7.99
Options exercised or restricted stock or RSUs vested	—	—		—	(1)	$	7.13	—	(1)	$	11.45	(5.7)	$	8.79
Forfeited or expired	(0.1)	$	20.26	(2.1)		$	14.86	—		—		(0.2)	$	9.35
Outstanding at September 30, 2024	2.3	$	23.10	15.0		$	13.80	0.1		$	8.98	11.7	$	8.21

_____________________

(1)Represents less than 0.1 million shares.

Fair Value Measurements - Schedule of Carrying Values and Fair Values of Company’s Outstanding Debt, Film Related Obligations, and Interest Rate Swaps (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Intercompany Revolver \| Carrying Value \| Revolving Credit Facility
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	$ 80.4	$ 0.0
Intercompany Revolver \| Fair Value \| Revolving Credit Facility \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	80.4	0.0
LGTV Revolver \| Carrying Value \| Revolving Credit Facility
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	417.6	569.9
LGTV Revolver \| Fair Value \| Revolving Credit Facility \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	421.5	575.0
LGTV Term Loan A \| Carrying Value \| Term Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	312.9	396.6
LGTV Term Loan A \| Fair Value \| Term Loans \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	312.9	397.3
LGTV Term Loan B \| Carrying Value \| Term Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	249.7	816.9
LGTV Term Loan B \| Fair Value \| Term Loans \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	249.7	818.1
eOne IP Credit Facility \| Carrying Value \| Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	334.0	0.0
eOne IP Credit Facility \| Fair Value \| Line of Credit \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	340.0	0.0
LG IP Credit Facility \| Carrying Value \| Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	447.9	0.0
LG IP Credit Facility \| Fair Value \| Line of Credit \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	455.0	0.0
Production Loans \| Carrying Value \| Production Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	1,239.4	1,286.2
Production Loans \| Fair Value \| Production Loans \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	1,244.8	1,292.2
Production Tax Credit Facility \| Carrying Value \| Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	259.6	258.7
Production Tax Credit Facility \| Fair Value \| Line of Credit \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	260.0	260.0
Backlog Facility and Other \| Carrying Value \| Secured Debt
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	271.9	285.4
Backlog Facility and Other \| Fair Value \| Secured Debt \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	273.2	287.3
Film Library Facility \| Carrying Value \| Secured Debt
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	92.3	107.6
Film Library Facility \| Fair Value \| Secured Debt \| Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	$ 94.2	$ 109.9

Fair Value Measurements

6 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. Fair Value Measurements

Fair Value

Accounting guidance and standards about fair value define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair Value Hierarchy

Fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The accounting guidance and standards establish three levels of inputs that may be used to measure fair value:

•Level 1 — Quoted prices in active markets for identical assets or liabilities.

•Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of September 30, 2024 and March 31, 2024:


	September 30, 2024						March 31, 2024
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:	(Amounts in millions)
Interest rate swaps (see Note 18)	$	—	$	12.2	$	12.2	$	—	$	35.6	$	35.6

Liabilities:
Forward exchange contracts (see Note 18)	—		(0.6)		(0.6)		—		(2.8)		(2.8)
Interest rate swaps (see Note 18)	—		(1.7)		(1.7)		—		—		—

The following table sets forth the carrying values and fair values of the Company’s outstanding debt and film related obligations at September 30, 2024 and March 31, 2024:


	September 30, 2024				March 31, 2024
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Intercompany Revolver	$	80.4	$	80.4	$	—	$	—
LGTV Revolver	417.6		421.5		569.9		575.0
LGTV Term Loan A	312.9		312.9		396.6		397.3
LGTV Term Loan B	249.7		249.7		816.9		818.1
eOne IP Credit Facility	334.0		340.0		—		—
LG IP Credit Facility	447.9		455.0		—		—
Production Loans	1,239.4		1,244.8		1,286.2		1,292.2
Production Tax Credit Facility	259.6		260.0		258.7		260.0
Backlog Facility and Other	271.9		273.2		285.4		287.3
Film Library Facility	92.3		94.2		107.6		109.9

________________

The Company’s financial instruments also include cash and cash equivalents, accounts receivable, accounts payable, content related payables, other accrued liabilities, other liabilities, and borrowings under Lionsgate’s revolving credit facility prior to the Separation, if any. The carrying values of these financial instruments approximated the fair values at September 30, 2024 and March 31, 2024.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

Segment Information

6 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

16. Segment Information

The Company’s reportable segments have been determined based on the distinct nature of their operations, the Company’s internal management structure, and the financial information that is evaluated regularly by the Company’s chief operating decision maker.

The Company has two reportable business segments: (1) Motion Picture and (2) Television Production.

Motion Picture. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired.

Television Production. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the licensing of Starz original series productions to the Starz Business, and the ancillary market distribution of Starz original productions and licensed product. Additionally, the Television Production segment includes the results of operations of 3 Arts Entertainment.

Segment information is presented in the table below. The Motion Picture and Television Production segments include the results of operations of eOne from the acquisition date of December 27, 2023 (see Note 3).


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Segment revenues
Motion Picture	$	407.1	$	395.9	$	754.0	$	802.5
Television Production	416.6		393.9		658.0		612.4
Total revenue	$	823.7	$	789.8	$	1,412.0	$	1,414.9
Gross contribution
Motion Picture	25.4		94.2		$	140.0	$	192.9
Television Production	41.4		77.5		70.0		113.0
Total gross contribution	66.8		171.7		210.0		305.9
Segment general and administration
Motion Picture	22.8		26.7		51.3		56.1
Television Production	17.0		14.3		34.8		27.0
Total segment general and administration	39.8		41.0		86.1		83.1
Segment profit
Motion Picture	2.6		67.5		88.7		136.8
Television Production	24.4		63.2		35.2		86.0
Total segment profit	$	27.0	$	130.7	$	123.9	$	222.8

The Company’s primary measure of segment performance is segment profit. Segment profit is defined as gross contribution (revenues, less direct operating and distribution and marketing expense) less segment general and administration expenses. Segment profit excludes, when applicable, corporate and allocated general and administrative expense, restructuring and other costs, share-based compensation, certain charges related to the COVID-19 global pandemic, and purchase accounting and related adjustments. The Company believes the presentation of segment profit is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company’s management and enables them to understand the fundamental performance of the Company’s businesses.

The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Company’s total segment profit	$	27.0	$	130.7	$	123.9	$	222.8
Corporate general and administrative expenses(1)	(28.1)		(26.5)		(59.2)		(51.0)
Adjusted depreciation and amortization(2)	(3.2)		(2.4)		(6.7)		(5.2)
Restructuring and other	(7.2)		(4.9)		(34.9)		(9.0)
COVID-19 related benefit (charges) included in direct operating expense(3)	—		0.5		2.1		0.4
Content charges(4)	—		(0.4)		—		(0.8)
Unallocated rent cost included in direct operating expense(5)	(5.2)		—		(10.5)		—
Adjusted share-based compensation expense(6)	(15.3)		(17.4)		(27.9)		(29.0)
Purchase accounting and related adjustments(7)	(2.8)		(3.6)		(5.9)		(15.2)
Operating income (loss)	(34.8)		76.0		(19.1)		113.0
Interest expense	(63.0)		(51.7)		(121.6)		(101.6)
Interest and other income	3.3		2.9		8.4		5.1
Other expense	(13.8)		(10.0)		(15.2)		(13.7)
Loss on extinguishment of debt	(0.5)		—		(1.5)		—
Loss on investments, net	—		(1.6)		—		(1.7)
Equity interests income (loss)	(0.1)		1.8		0.8		1.5
Income (loss) before income taxes	$	(108.9)	$	17.4	$	(148.2)	$	2.6

___________________

(1)Corporate general and administrative expenses reflect the allocations of certain general and administrative expenses from Lionsgate related to certain corporate and shared service functions historically provided by Lionsgate, including, but not limited to, executive oversight, accounting, tax, legal, human resources, occupancy, and other shared services (see Note 1 and Note 20). Amount excludes allocation of share-based compensation expense discussed below. The costs included in corporate general and administrative expenses represent certain corporate executive expense (such as salaries and wages for the office of the Chief Executive Officer, Chief Financial Officer, General Counsel and other corporate officers), investor relations costs, costs of maintaining corporate facilities, and other unallocated common administrative support functions, including corporate accounting, finance and financial reporting, internal and external audit and tax costs, corporate and other legal support functions, and certain information technology and human resources expense.

(2)Adjusted depreciation and amortization represents depreciation and amortization as presented on the unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Depreciation and amortization	$	4.2	$	3.8	$	8.8	$	8.0
Less: Amount included in purchase accounting and related adjustments	(1.0)		(1.4)		(2.1)		(2.8)
Adjusted depreciation and amortization	$	3.2	$	2.4	$	6.7	$	5.2

(3)Amounts represent the incremental costs, if any, included in direct operating expense resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries (see Note 15). These benefits (charges) are excluded from segment operating results.

(4)Content charges represent certain charges included in direct operating expense in the unaudited condensed consolidated statements of operations, and excluded from segment operating results.

(5)Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments.

(6)The following table reconciles total share-based compensation expense to adjusted share-based compensation expense:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Total share-based compensation expense	$	19.9	$	17.4	$	32.5	$	29.5
Less:
Amount included in restructuring and other(i)	(4.6)		—		(4.6)		(0.5)
Adjusted share-based compensation	$	15.3	$	17.4	$	27.9	$	29.0

(i)Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements.

(7)The following sets forth the amounts included in each line item in the financial statements:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Purchase accounting and related adjustments:
General and administrative expense(i)	$	1.8	$	2.2	$	3.8	$	12.4
Depreciation and amortization	1.0		1.4		2.1		2.8
	$	2.8	$	3.6	$	5.9	$	15.2

(i) These adjustments include the expense associated with the noncontrolling equity interests in the distributable earnings related to 3 Arts Entertainment, and the amortization of the recoupable portion of the purchase price ($1.3 million through May 2023) related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The noncontrolling equity interest in the distributable earnings of 3 Arts Entertainment are reflected as an expense rather than noncontrolling interest in the unaudited condensed consolidated statements of operations due to the relationship to continued employment.

See Note 11 for revenues by media or product line as broken down by segment for the three and six months ended September 30, 2024 and 2023.

The following table reconciles segment general and administration expense to the Company’s total consolidated general and administration expense:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
General and administration
Segment general and administrative expenses	$	39.8	$	41.0	$	86.1	$	83.1
Corporate general and administrative expenses	28.1		26.5		59.2		51.0
Share-based compensation expense included in general and administrative expense	15.3		17.4		27.9		29.0
Purchase accounting and related adjustments	1.7		2.2		3.8		12.4
	$	84.9	$	87.1	$	177.0	$	175.5

The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Assets
Motion Picture	$	1,924.9	$	1,851.4
Television Production	2,401.0		2,347.8
Other unallocated assets(1)	935.5		903.8
	$	5,261.4	$	5,103.0

_____________________

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

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Net Income (Loss) Per Share - Schedule of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$ (113.4)	$ 15.2	$ (156.8)	$ (5.3)
Accretion of redeemable noncontrolling interest	(0.3)	0.0	(0.6)	0.0
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest, basic	(113.7)	15.2	(157.4)	(5.3)
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest, diluted	$ (113.7)	$ 15.2	$ (157.4)	$ (5.3)
Denominator:
Weighted average common shares outstanding, basic (in shares)	288.7	253.4	280.6	253.4
Weighted average common shares outstanding, diluted (in shares)	288.7	253.4	280.6	253.4
Basic net income (loss) per common share (in dollars per share)	$ (0.39)	$ 0.06	$ (0.56)	$ (0.02)
Diluted net income (loss) per common share (in dollars per share)	$ (0.39)	$ 0.06	$ (0.56)	$ (0.02)

Investment in Films and Television Programs - Schedule of Impairments by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ 17.8	$ 32.2	$ 18.0	$ 32.4
Film, Monetized on Its Own, and Film Group, Impairment, Statement of Income [Extensible Enumeration]	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other
Reportable Segments \| Motion Picture
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ 18.3	$ 26.8	$ 18.5	$ 27.0
Reportable Segments \| Television Production
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	0.0	5.4	0.0	5.4
Corporate
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ (0.5)	$ 0.0	$ (0.5)	$ 0.0

Debt - Schedule of Loss on Extinguishment of Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Extinguishment of Debt [Line Items]
Loss on Extinguishment of Debt:	$ (0.5)	$ 0.0	$ (1.5)	$ 0.0
Term Loan A and Term Loan B Repayment
Extinguishment of Debt [Line Items]
Loss on Extinguishment of Debt:	$ (0.5)	$ 0.0	$ (1.5)	$ 0.0

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities:
Net loss	$ (158.3)	$ (7.8)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	8.8	8.0
Amortization of films and television programs	717.9	636.7
Other impairments	18.5	0.0
Amortization of debt financing costs and other non-cash interest	16.6	12.9
Non-cash share-based compensation	32.5	29.5
Other amortization	29.5	19.8
Loss on extinguishment of debt	1.5	0.0
Equity interests (income) loss	(0.8)	(1.5)
Loss on investments, net	0.0	1.7
Deferred income taxes	6.1	0.4
Changes in operating assets and liabilities:
Accounts receivable, net	287.9	134.4
Investment in films and television programs, net	(1,083.9)	(551.8)
Other assets	(9.6)	(12.8)
Accounts payable and accrued liabilities	(118.0)	(85.3)
Participations and residuals	(57.3)	36.7
Content related payables	(11.0)	(5.9)
Deferred revenue	245.0	28.8
Due from Starz Business	(125.1)	29.7
Net Cash Flows Provided By (Used In) Operating Activities	(199.7)	273.5
Investing Activities:
Net proceeds from purchase price adjustments for eOne acquisition (see Note 3)	12.0	0.0
Proceeds from the sale of other investments	0.0	0.2
Investment in equity method investees and other	(2.0)	(11.3)
Acquisition of assets (film library and related assets)	(35.0)	0.0
Increase in loans receivable	0.0	(2.1)
Purchases of accounts receivables held for collateral	0.0	(85.6)
Receipts of accounts receivables held for collateral	0.0	94.2
Capital expenditures	(8.6)	(3.5)
Net Cash Flows Used In Investing Activities	(33.6)	(8.1)
Financing Activities:
Debt - borrowings, net of debt issuance costs	2,537.4	1,084.5
Debt - repurchases and repayments	(2,448.8)	(1,104.1)
Film related obligations - borrowings	1,152.6	813.9
Film related obligations - repayments	(1,236.0)	(1,028.0)
Purchase of noncontrolling interest	(7.4)	(0.6)
Distributions to noncontrolling interest	(0.6)	(0.6)
Parent net investment	(94.6)	(63.2)
Tax withholding required on equity awards	(18.7)	0.0
Proceeds from Business Combination, net	283.1	0.0
Net Cash Flows Provided By (Used In) Financing Activities	167.0	(298.1)
Net Change In Cash, Cash Equivalents and Restricted Cash	(66.3)	(32.7)
Foreign Exchange Effects on Cash, Cash Equivalents and Restricted Cash	2.3	(0.4)
Cash, Cash Equivalents and Restricted Cash - Beginning Of Period	334.4	251.4
Cash, Cash Equivalents and Restricted Cash - End Of Period	$ 270.4	$ 218.3

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognized in period from performance obligations satisfied in previous period	$ 68.6	$ 157.9
Revenues recognized	$ 34.5	$ 108.6

Business Combination - Schedule of Elements of Business Combination and Related Transactions to Consolidated Statement of Cash Flows and Equity (Deficit) (Details) - USD ($) $ / shares in Units, $ in Millions		5 Months Ended	6 Months Ended
	May 13, 2024	Sep. 30, 2024	Sep. 30, 2024
Business Combination Segment Allocation [Line Items]
Gross cash proceeds from SEAC trust account, net of redemptions			$ 75.7
Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised	$ 254.3	$ 254.3	254.3
Total gross cash proceeds			330.0
Less: SEAC warrant exchange payment			(12.5)
Less: SEAC transaction costs			(20.1)
Less: Lionsgate Studios transaction costs			(15.8)
Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit)			281.6
Add: Transaction costs accrued and not paid, net of transaction costs previously paid			1.5
Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows			$ 283.1
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC Public Warrants
Business Combination Segment Allocation [Line Items]
Shares issued, price per share (in dollars per share)		$ 0.50	$ 0.50
Warrants outstanding		$ 0.0	$ 0.0

Investments - Schedule of Investments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments in equity method investees	$ 71.3	$ 68.4
Other investments	6.4	6.4
Investments	$ 77.7	$ 74.8

Additional Financial Information (Tables)

6 Months Ended

Sep. 30, 2024

Schedule of Reconciliation 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	$	210.8	$	277.0
Restricted cash included in other current assets	48.0		43.7
Restricted cash included in other non-current assets	11.6		13.7
Total cash, cash equivalents and restricted cash	$	270.4	$	334.4

Schedule of Transfer of Financial Assets Accounted for as Sales

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	$	186.4	$	196.2	$	293.8	$	300.5
Net cash proceeds received	181.7		187.3		285.8		288.9
Loss recorded related to transfers of receivables	4.7		8.9		8.0		11.6

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

___________________

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

Schedule of Composition 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	$	44.6	$	34.8
Restricted cash	48.0		43.7
Contract assets	56.6		59.9
Interest rate swap assets	12.2		35.6
Tax credits receivable	166.6		199.1
	$	328.0	$	373.1
Other non-current assets
Prepaid expenses and other	$	13.8	$	18.3
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	307.0		344.3
	$	779.3	$	852.9

Schedule of Changes in 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	$	(42.1)	$	138.8	$	96.7
Other comprehensive income (loss)	11.7		(1.8)		9.9
Reclassifications to net loss(1)	—		(18.0)		(18.0)
September 30, 2024	$	(30.4)	$	119.0	$	88.6

March 31, 2023	$	(41.1)	$	142.6	$	101.5
Other comprehensive income (loss)	(1.3)		33.3		32.0
Reclassifications to net loss(1)	—		(16.4)		(16.4)
September 30, 2023	$	(42.4)	$	159.5	$	117.1

___________________

(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 gain of $16.3 million included in interest expense) (see Note 18).

Film Related Obligations (Tables)

6 Months Ended

Sep. 30, 2024

Film Related Obligations [Abstract]

Schedule of Components


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Film related obligations:
Production Loans	$	1,244.8	$	1,292.2
Production Tax Credit Facility	260.0		260.0
Backlog Facility and Other	273.2		287.3
Film Library Facility	94.2		109.9
Total film related obligations	1,872.2		1,949.4
Unamortized issuance costs	(9.1)		(11.4)
Total film related obligations, net	1,863.1		1,938.0
Less current portion	(1,634.7)		(1,393.1)
Total non-current film related obligations	$	228.4	$	544.9

Schedule of Cumulative Minimum Guaranteed Payments of Film Library Facility

The cash flows generated from the exploitation of the rights will be applied to repay the Film Library Facility subject to cumulative minimum guaranteed payment amounts as set forth below:

Cumulative Period From September 29, 2022 Through:

Cumulative Minimum Guaranteed Payment Amounts

Payment Due Date

(in millions)

September 30, 2024

$60.7

November 14, 2024

September 30, 2025

$91.1

November 14, 2025

September 30, 2026

$121.4

November 14, 2026

July 30, 2027

$161.9

July 30, 2027

Investments (Tables)

6 Months Ended

Sep. 30, 2024

Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]

Schedule of Investments

The Company’s investments consisted of the following:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Investments in equity method investees	$	71.3	$	68.4
Other investments	6.4		6.4
	$	77.7	$	74.8

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
ASSETS
Cash and cash equivalents	$ 210.8	$ 277.0
Accounts receivable, net	496.8	688.6
Due from Starz Business (Note 20)	158.5	33.4
Other current assets	328.0	373.1
Total current assets	1,194.1	1,372.1
Investment in films and television programs, net	2,344.6	1,929.0
Property and equipment, net	36.0	37.3
Investments	77.7	74.8
Intangible assets, net	23.2	25.7
Goodwill	806.5	811.2
Other assets	779.3	852.9
Total assets	5,261.4	5,103.0
LIABILITIES
Accounts payable	256.8	246.7
Content related payables	37.0	41.4
Other accrued liabilities	178.6	282.4
Participations and residuals	590.4	647.8
Film related obligations	1,634.7	1,393.1
Debt - short term portion	443.0	860.3
Deferred revenue	366.5	170.6
Total current liabilities	3,507.0	3,642.3
Debt	1,399.4	923.0
Participations and residuals	442.6	435.1
Film related obligations	228.4	544.9
Other liabilities	430.7	452.5
Deferred revenue	172.6	118.4
Deferred tax liabilities	19.6	13.7
Total liabilities	6,200.3	6,129.9
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	99.7	123.3
EQUITY (DEFICIT)
Common shares, no par value, unlimited authorized, 288.7 shares issued (March 31, 2024- 253.4 shares issued)	289.7	0.0
Accumulated deficit	(1,451.8)	(1,249.1)
Accumulated other comprehensive income	88.6	96.7
Total Lionsgate Studios Corp shareholders’ equity (deficit)	(1,073.5)	(1,152.4)
Noncontrolling interests	34.9	2.2
Total equity (deficit)	(1,038.6)	(1,150.2)
Total liabilities, redeemable noncontrolling interests and equity (deficit)	$ 5,261.4	$ 5,103.0

Segment Information (Tables)

6 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Information


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Segment revenues
Motion Picture	$	407.1	$	395.9	$	754.0	$	802.5
Television Production	416.6		393.9		658.0		612.4
Total revenue	$	823.7	$	789.8	$	1,412.0	$	1,414.9
Gross contribution
Motion Picture	25.4		94.2		$	140.0	$	192.9
Television Production	41.4		77.5		70.0		113.0
Total gross contribution	66.8		171.7		210.0		305.9
Segment general and administration
Motion Picture	22.8		26.7		51.3		56.1
Television Production	17.0		14.3		34.8		27.0
Total segment general and administration	39.8		41.0		86.1		83.1
Segment profit
Motion Picture	2.6		67.5		88.7		136.8
Television Production	24.4		63.2		35.2		86.0
Total segment profit	$	27.0	$	130.7	$	123.9	$	222.8

Schedule of Reconciliation of Total Segment Profit to the Company's Loss Before Income Taxes

The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Company’s total segment profit	$	27.0	$	130.7	$	123.9	$	222.8
Corporate general and administrative expenses(1)	(28.1)		(26.5)		(59.2)		(51.0)
Adjusted depreciation and amortization(2)	(3.2)		(2.4)		(6.7)		(5.2)
Restructuring and other	(7.2)		(4.9)		(34.9)		(9.0)
COVID-19 related benefit (charges) included in direct operating expense(3)	—		0.5		2.1		0.4
Content charges(4)	—		(0.4)		—		(0.8)
Unallocated rent cost included in direct operating expense(5)	(5.2)		—		(10.5)		—
Adjusted share-based compensation expense(6)	(15.3)		(17.4)		(27.9)		(29.0)
Purchase accounting and related adjustments(7)	(2.8)		(3.6)		(5.9)		(15.2)
Operating income (loss)	(34.8)		76.0		(19.1)		113.0
Interest expense	(63.0)		(51.7)		(121.6)		(101.6)
Interest and other income	3.3		2.9		8.4		5.1
Other expense	(13.8)		(10.0)		(15.2)		(13.7)
Loss on extinguishment of debt	(0.5)		—		(1.5)		—
Loss on investments, net	—		(1.6)		—		(1.7)
Equity interests income (loss)	(0.1)		1.8		0.8		1.5
Income (loss) before income taxes	$	(108.9)	$	17.4	$	(148.2)	$	2.6

___________________


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Depreciation and amortization	$	4.2	$	3.8	$	8.8	$	8.0
Less: Amount included in purchase accounting and related adjustments	(1.0)		(1.4)		(2.1)		(2.8)
Adjusted depreciation and amortization	$	3.2	$	2.4	$	6.7	$	5.2

(4)Content charges represent certain charges included in direct operating expense in the unaudited condensed consolidated statements of operations, and excluded from segment operating results.

(5)Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments.

(6)The following table reconciles total share-based compensation expense to adjusted share-based compensation expense:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Total share-based compensation expense	$	19.9	$	17.4	$	32.5	$	29.5
Less:
Amount included in restructuring and other(i)	(4.6)		—		(4.6)		(0.5)
Adjusted share-based compensation	$	15.3	$	17.4	$	27.9	$	29.0

(7)The following sets forth the amounts included in each line item in the financial statements:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Purchase accounting and related adjustments:
General and administrative expense(i)	$	1.8	$	2.2	$	3.8	$	12.4
Depreciation and amortization	1.0		1.4		2.1		2.8
	$	2.8	$	3.6	$	5.9	$	15.2

Schedule of Reconciliation of Segment General and Administrative Expense to Consolidated

The following table reconciles segment general and administration expense to the Company’s total consolidated general and administration expense:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
General and administration
Segment general and administrative expenses	$	39.8	$	41.0	$	86.1	$	83.1
Corporate general and administrative expenses	28.1		26.5		59.2		51.0
Share-based compensation expense included in general and administrative expense	15.3		17.4		27.9		29.0
Purchase accounting and related adjustments	1.7		2.2		3.8		12.4
	$	84.9	$	87.1	$	177.0	$	175.5

Schedule of Reconciliation of Total Segment Assets to Total Consolidated Assets

The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Assets
Motion Picture	$	1,924.9	$	1,851.4
Television Production	2,401.0		2,347.8
Other unallocated assets(1)	935.5		903.8
	$	5,261.4	$	5,103.0

_____________________

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

Segment Information - Schedule of Adjusted Depreciation and Amortization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ 4.2	$ 3.8	$ 8.8	$ 8.0
Adjusted depreciation and amortization	3.2	2.4	6.7	5.2
Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted depreciation and amortization	3.2	2.4	6.7	5.2
Purchase Accounting and Related Adjustments \| Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ (1.0)	$ (1.4)	$ (2.1)	$ (2.8)

Noncontrolling Interests (Tables)

6 Months Ended

Sep. 30, 2024

Noncontrolling Interest [Abstract]

Schedule of Changes in Redeemable Noncontrolling Interest

The table below presents the reconciliation of changes in redeemable noncontrolling interests:


	Six Months Ended
	September 30,
		2024		2023
		(Amounts in millions)
Beginning balance		$	123.3	$	343.6
Net loss attributable to redeemable noncontrolling interests		(1.3)		(3.3)
Adjustments to redemption value		0.6		71.0
Cash distributions		0.5		(0.6)
Purchase of noncontrolling interest		(23.4)		(0.6)
Ending balance		$	99.7	$	410.1

Net Income (Loss) Per Share - Schedule of Outstanding Common Shares Issuable Excluded from Diluted Net Income (Loss) Per Common Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
SEAC Sponsor Options
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	2.2	0.0	2.2	0.0

Film Related Obligations - Schedule of Components (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Film Related Obligations [Abstract]
Production Loans	$ 1,244.8	$ 1,292.2
Production Tax Credit Facility	260.0	260.0
Backlog Facility and Other	273.2	287.3
Film Library Facility	94.2	109.9
Total film related obligations	1,872.2	1,949.4
Unamortized issuance costs	(9.1)	(11.4)
Total film related obligations, net	1,863.1	1,938.0
Less current portion	(1,634.7)	(1,393.1)
Total non-current film related obligations	$ 228.4	$ 544.9

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Segment revenues	$ 823.7	$ 789.8	$ 1,412.0	$ 1,414.9
Gross contribution	66.8	171.7	210.0	305.9
Segment general and administration	39.8	41.0	86.1	83.1
Segment profit	27.0	130.7	123.9	222.8
Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	407.1	395.9	754.0	802.5
Gross contribution	25.4	94.2	140.0	192.9
Segment general and administration	22.8	26.7	51.3	56.1
Segment profit	2.6	67.5	88.7	136.8
Television Production
Segment Reporting Information [Line Items]
Segment revenues	416.6	393.9	658.0	612.4
Gross contribution	41.4	77.5	70.0	113.0
Segment general and administration	17.0	14.3	34.8	27.0
Segment profit	$ 24.4	$ 63.2	$ 35.2	$ 86.0

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

Schedule of Net Transfers

Related Party Transactions (Tables)

6 Months Ended

Sep. 30, 2024

The net transfers to and from Lionsgate through the period prior to the Separation discussed above were as follows:


	Six Months Ended
	September 30,
	2024		2023


Cash pooling and general financing activities	$	87.9	$	(133.2)
Licensing of content(1)	9.7		266.1
Corporate reimbursements	(5.3)		2.0
Corporate expense allocations (excluding allocation of share-based compensation)	2.3		13.9
Funding of purchases of accounts receivables held for collateral	—		(85.6)
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	$	94.6	$	63.2
Share-based compensation (including allocation of share-based compensation)	(6.0)		(29.5)
Other non-cash transfer(2)	(33.4)		5.3
Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit)	$	55.2	$	39.0

___________________

(1)Reflects the settlement of amounts due from the Starz Business related to the Company’s licensing arrangements with the Starz Business.

(2)Includes a non-cash transfer of debt through Parent net investment of $35.0 million in connection with the Separation in the six months ended September 30, 2024.

Subsequent Events (Details) - USD ($) $ in Millions		1 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Nov. 06, 2024	Sep. 30, 2024	May 31, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Borrowing amount		$ 1,861.3		$ 1,793.5
LGTV Term Loan B \| Term Loans
Subsequent Event [Line Items]
Borrowing amount		250.0		$ 819.2
Principal amount of debt payment		355.1	$ 214.1
LGTV Term Loan B \| Subsequent Event \| Term Loans
Subsequent Event [Line Items]
Principal amount of debt payment	$ 250.0
Secured Debt \| LG IP Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Maximum principal amount		$ 455.0
Secured Debt \| LG IP Credit Facility \| Subsequent Event \| Line of Credit
Subsequent Event [Line Items]
Maximum principal amount	720.0
Borrowing amount	$ 265.0

Derivative Instruments and Hedging Activities - Schedule of Pay-Fixed Interest Rate Swaps, Designated as Cash Flow Hedges Outstanding (Details) - Designated as Hedging Instrument - Interest rate swaps - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Derivative [Line Items]
Notional Amount	$ 1,920.0	$ 1,920.0
Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional Amount	$ 300.0	$ 300.0
Fixed Rate Paid (as percent)	2.915%	2.915%
Interest Rate Swap 2, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional Amount	$ 700.0	$ 700.0
Fixed Rate Paid (as percent)	2.915%	2.915%
Interest Rate Swap, Fixed Rate Paid 2.723%, Effective Date June 25, 2018
Derivative [Line Items]
Notional Amount	$ 200.0	$ 200.0
Fixed Rate Paid (as percent)	2.723%	2.723%
Interest Rate Swap, Fixed Rate Paid 2.885%, Effective Date July 31, 2018
Derivative [Line Items]
Notional Amount	$ 300.0	$ 300.0
Fixed Rate Paid (as percent)	2.885%	2.885%
Interest Rate Swap, Fixed Rate Paid 2.744%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount	$ 50.0	$ 50.0
Fixed Rate Paid (as percent)	2.744%	2.744%
Interest Rate Swap, Fixed Rate Paid 2.808%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount	$ 100.0	$ 100.0
Fixed Rate Paid (as percent)	2.808%	2.808%
Interest Rate Swap, Fixed Rate Paid 2.728%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount	$ 50.0	$ 50.0
Fixed Rate Paid (as percent)	2.728%	2.728%
Interest Rate Swap, Fixed Rate Paid 4.045%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 65.0
Fixed Rate Paid (as percent)	4.045%
Interest Rate Swap, Fixed Rate Paid 3.803%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 77.5
Fixed Rate Paid (as percent)	3.803%
Interest Rate Swap, Fixed Rate Paid 3.810%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 77.5
Fixed Rate Paid (as percent)	3.81%

Goodwill

6 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

6. Goodwill

Goodwill

Changes in the carrying value of goodwill by reporting segment were as follows:


	Motion Picture		Television Production		Total
	(Amounts in millions)
Balance as of March 31, 2024	$	398.6	$	412.6	$	811.2
Measurement period adjustments(1)	(2.2)		(2.5)		(4.7)
Balance as of September 30, 2024	$	396.4	$	410.1	$	806.5

________________________

Additional Financial Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 210.8	$ 277.0
Restricted cash included in other current assets	48.0	43.7
Restricted cash included in other non-current assets	11.6	13.7
Total cash, cash equivalents and restricted cash	$ 270.4	$ 334.4	$ 218.3	$ 251.4

Capital Stock - Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity (Details) shares in Millions	6 Months Ended
	Sep. 30, 2024 $ / shares shares
Lions Gate Class A Voting Shares \| Stock Options and SARs
Number of Shares
Outstanding, beginning balance (in shares)	2.4
Granted (in shares)	0.0
Options exercised or restricted stock or RSUs vested (in shares)	0.0
Forfeited or expired (in shares)	(0.1)
Outstanding, ending balance (in shares)	2.3
Weighted-Average Exercise Price
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 22.96
Granted, weighted average exercise price (in USD per share) \| $ / shares	0
Options exercised or restricted stock or RSUs vested, weighted average exercise price (in USD per share) \| $ / shares	0
Forfeited or expired, weighted average exercise price (in USD per share) \| $ / shares	20.26
Outstanding, ending balance (in USD per share) \| $ / shares	$ 23.10
Lions Gate Class A Voting Shares \| Stock Options and SARs \| Maximum
Number of Shares
Options exercised or restricted stock or RSUs vested (in shares)	(0.1)
Forfeited or expired (in shares)	(0.1)
Lions Gate Class A Voting Shares \| Restricted Stock and Restricted Share Units (RSUs)
Number of Shares
Outstanding, beginning balance (in shares)	0.1
Granted (in shares)	0.0
Options exercised or restricted stock or RSUs vested (in shares)	0.0
Forfeited or expired (in shares)	0.0
Outstanding, ending balance (in shares)	0.1
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 9.27
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Options exercised or restricted stock or RSUs vested, weighted average grant-date fair value (in USD per share) \| $ / shares	11.45
Forfeited or expired, weighted average grant-date fair value (in USD per share) \| $ / shares	0
Outstanding, ending balance (in USD per share) \| $ / shares	$ 8.98
Lions Gate Class A Voting Shares \| Restricted Stock and Restricted Share Units (RSUs) \| Maximum
Number of Shares
Outstanding, beginning balance (in shares)	0.1
Outstanding, ending balance (in shares)	0.1
Lions Gate Class B Non-Voting Shares \| Stock Options and SARs
Number of Shares
Outstanding, beginning balance (in shares)	17.1
Granted (in shares)	0.0
Options exercised or restricted stock or RSUs vested (in shares)	0.0
Forfeited or expired (in shares)	(2.1)
Outstanding, ending balance (in shares)	15.0
Weighted-Average Exercise Price
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 13.92
Granted, weighted average exercise price (in USD per share) \| $ / shares	0
Options exercised or restricted stock or RSUs vested, weighted average exercise price (in USD per share) \| $ / shares	7.13
Forfeited or expired, weighted average exercise price (in USD per share) \| $ / shares	14.86
Outstanding, ending balance (in USD per share) \| $ / shares	$ 13.80
Lions Gate Class B Non-Voting Shares \| Stock Options and SARs \| Maximum
Number of Shares
Granted (in shares)	0.1
Lions Gate Class B Non-Voting Shares \| Restricted Stock and Restricted Share Units (RSUs)
Number of Shares
Outstanding, beginning balance (in shares)	9.8
Granted (in shares)	7.8
Options exercised or restricted stock or RSUs vested (in shares)	(5.7)
Forfeited or expired (in shares)	(0.2)
Outstanding, ending balance (in shares)	11.7
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 8.93
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	7.99
Options exercised or restricted stock or RSUs vested, weighted average grant-date fair value (in USD per share) \| $ / shares	8.79
Forfeited or expired, weighted average grant-date fair value (in USD per share) \| $ / shares	9.35
Outstanding, ending balance (in USD per share) \| $ / shares	$ 8.21

Capital Stock - Schedule of Share-Based Compensation Expense, by Expense Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 19.9	$ 17.4	$ 32.5	$ 29.5
General and administration
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	15.3	17.4	27.9	29.0
Restructuring and other
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 4.6	$ 0.0	$ 4.6	$ 0.5

Acquisitions - Schedule of Preliminary Allocation of Purchase Price to the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Dec. 27, 2023	Sep. 30, 2024	Sep. 30, 2024	Mar. 31, 2024
Business Acquisition [Line Items]
Goodwill		$ (806.5)	$ (806.5)	$ (811.2)
eOne
Business Acquisition [Line Items]
Cash and cash equivalents		54.1	54.1
Accounts receivable		294.2	294.2
Investment in films and television programs		370.2	370.2
Property and equipment		14.0	14.0
Intangible assets		4.0	4.0
Other assets		171.1	171.1
Accounts payable and accrued liabilities		(67.7)	(67.7)
Content related payable		(38.8)	(38.8)
Participations and residuals		(202.4)	(202.4)
Film related obligations		(105.8)	(105.8)
Other liabilities and deferred revenue		(130.7)	(130.7)
Preliminary fair value of net assets acquired		362.2	362.2
Goodwill		10.9	10.9
Preliminary purchase price consideration at September 30, 2024	$ 385.1	$ 373.1	$ 373.1

Investments - Narrative (Details)	Sep. 30, 2024
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership (as a percent)	6.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership (as a percent)	49.00%

Derivative Instruments and Hedging Activities - Schedule of Outstanding Forward Foreign Exchange Contracts (Details) € in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	6 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CZK (Kč)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 MXN ($)	Sep. 30, 2024 HUF (Ft)	Sep. 30, 2024 NZD ($)
Derivative [Line Items]
Remaining maturity of forward foreign exchange contracts (in months)	19 months
Czech Koruna \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 7.7	Kč 180.0
Weighted Average Exchange Rate Per $1 USD	23.29	23.29	23.29	23.29	23.29	23.29	23.29
Euro \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 16.6		€ 14.8
Weighted Average Exchange Rate Per $1 USD	0.90	0.90	0.90	0.90	0.90	0.90	0.90
Canadian Dollar \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 11.1			$ 15.0
Weighted Average Exchange Rate Per $1 USD	1.35	1.35	1.35	1.35	1.35	1.35	1.35
Mexican Peso \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 10.4				$ 199.1
Weighted Average Exchange Rate Per $1 USD	19.73	19.73	19.73	19.73	19.73	19.73	19.73
Hungarian Forint \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 3.9					Ft 1,498.7
Weighted Average Exchange Rate Per $1 USD	371.46	371.46	371.46	371.46	371.46	371.46	371.46
New Zealand Dollar \| Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	$ 2.3						$ 3.6
Weighted Average Exchange Rate Per $1 USD	1.64	1.64	1.64	1.64	1.64	1.64	1.64

Additional Financial Information

6 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

19. Additional Financial Information

The following tables present supplemental information related to the unaudited condensed consolidated financial statements.

Cash, Cash Equivalents and Restricted Cash


	September 30, 2024		March 31, 2024
	(Amounts in millions)
Cash and cash equivalents	$	210.8	$	277.0
Restricted cash included in other current assets	48.0		43.7
Restricted cash included in other non-current assets	11.6		13.7
Total cash, cash equivalents and restricted cash	$	270.4	$	334.4

Accounts Receivable Monetization

Under the Company’s accounts receivable monetization programs, the Company has entered into (1) individual agreements to monetize certain of its trade accounts receivable directly with third-party purchasers and (2) a revolving agreement to monetize designated pools of trade accounts receivable with various financial institutions, as further described below. Under these 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 the “other expense” line item on the unaudited condensed consolidated 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 three and six months ended September 30, 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 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	$	186.4	$	196.2	$	293.8	$	300.5
Net cash proceeds received	181.7		187.3		285.8		288.9
Loss recorded related to transfers of receivables	4.7		8.9		8.0		11.6

At September 30, 2024, the outstanding amount of receivables derecognized from the Company’s unaudited condensed consolidated balance sheets, but which the Company continues to service, related to the Company’s individual agreements to monetize trade accounts receivable was $490.5 million (March 31, 2024 - $449.2 million).

Pooled Monetization Agreement. In December 2019, the Company entered into a revolving agreement, as amended in July 2023, to transfer up to $100.0 million of certain receivables to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred, which matured on October 1, 2023. As customers paid their balances, the Company would transfer additional receivables into the program. The transferred receivables were fully guaranteed by a bankruptcy-remote wholly-owned subsidiary of the Company. The third-party purchasers had 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 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

___________________

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

At September 30, 2024 and March 31, 2024, there were no outstanding receivables derecognized from the Company’s unaudited condensed consolidated balance sheet, for which the Company continues to service, related to the pooled monetization agreement.

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	$	44.6	$	34.8
Restricted cash	48.0		43.7
Contract assets	56.6		59.9
Interest rate swap assets	12.2		35.6
Tax credits receivable	166.6		199.1
	$	328.0	$	373.1
Other non-current assets
Prepaid expenses and other	$	13.8	$	18.3
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	307.0		344.3
	$	779.3	$	852.9

Content Related Payables

Content related payables include minimum guarantees and accrued licensed program rights obligations, which represent amounts payable for film or television rights that the Company has acquired or licensed.

Other Accrued Liabilities

Other accrued liabilities include employee related liabilities (such as accrued bonuses and salaries and wages) of $25.2 million and $116.2 million at September 30, 2024 and March 31, 2024, respectively.

Accumulated Other Comprehensive Income


	Foreign currency translation adjustments		Net unrealized gain (loss) on cash flow hedges		Total
	(Amounts in millions)
March 31, 2024	$	(42.1)	$	138.8	$	96.7
Other comprehensive income (loss)	11.7		(1.8)		9.9
Reclassifications to net loss(1)	—		(18.0)		(18.0)
September 30, 2024	$	(30.4)	$	119.0	$	88.6

March 31, 2023	$	(41.1)	$	142.6	$	101.5
Other comprehensive income (loss)	(1.3)		33.3		32.0
Reclassifications to net loss(1)	—		(16.4)		(16.4)
September 30, 2023	$	(42.4)	$	159.5	$	117.1

___________________

Supplemental Cash Flow Information

Significant non-cash transactions during the six months ended September 30, 2024 and 2023 include certain interest rate swap agreements, which are discussed in Note 18, “Derivative Instruments and Hedging Activities”.

Except for non-cash financing activity described in Note 20, there were no significant non-cash financing or investing activities for the six months ended September 30, 2024 and 2023.

Revenue (Tables)

6 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenues by Segment, Market or Product Line


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions)
Revenue by Type:
Motion Picture
Theatrical	$	20.1	$	28.2	$	56.1	$	94.1
Home Entertainment
Digital Media	114.5		165.7		254.6		339.8
Packaged Media	12.5		16.1		21.8		42.0
Total Home Entertainment	127.0		181.8		276.4		381.8
Television	108.7		100.8		196.7		149.3
International	148.0		79.7		216.0		160.7
Other	3.3		5.4		8.8		16.6
Total Motion Picture revenues(1)	407.1		395.9		754.0		802.5

Television Production
Television	313.1		221.8		473.2		371.9
International	49.7		73.6		85.5		105.6
Home Entertainment
Digital Media	34.3		84.2		53.2		96.0
Packaged Media	0.5		0.3		1.3		0.7
Total Home Entertainment	34.8		84.5		54.5		96.7
Other	19.0		14.0		44.8		38.2
Total Television Production revenues(2)	416.6		393.9		658.0		612.4

Total revenues	$	823.7	$	789.8	$	1,412.0	$	1,414.9

________________

Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations

Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2024 are as follows:


	Rest of Year Ending March 31,		Year Ending March 31,
	2025		2026		2027		Thereafter		Total
	(Amounts in millions)
Remaining Performance Obligations	$	824.0	$	781.8	$	114.4	$	58.6	$	1,778.8

Schedule of Changes in Provision for Doubtful Accounts

Changes in the provision for doubtful accounts consisted of the following:


	March 31, 2024		(Benefit) provision for doubtful accounts		Other(1)		Uncollectible accounts written-off		September 30, 2024
	(Amounts in millions)
Provision for doubtful accounts	$	6.4	$	(1.1)	$	2.5	$	(1.0)	$	6.8

_____________

(1) Represents a measurement period adjustment to the provision for doubtful accounts acquired in the acquisition of eOne (see Note 3).

Segment Information - Schedule of Reconciliation of Total Segment Profit to the Company's Loss Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Company’s total segment profit	$ 27.0	$ 130.7	$ 123.9	$ 222.8
Adjusted depreciation and amortization	(3.2)	(2.4)	(6.7)	(5.2)
Restructuring and other	(7.2)	(4.9)	(34.9)	(9.0)
Adjusted share-based compensation expense	(15.3)	(17.4)	(27.9)	(29.0)
Operating income (loss)	(34.8)	76.0	(19.1)	113.0
Interest expense	(63.0)	(51.7)	(121.6)	(101.6)
Interest and other income	3.3	2.9	8.4	5.1
Other expense	(13.8)	(10.0)	(15.2)	(13.7)
Loss on extinguishment of debt	(0.5)	0.0	(1.5)	0.0
Loss on investments, net	0.0	(1.6)	0.0	(1.7)
Equity interests income (loss)	(0.1)	1.8	0.8	1.5
Income (loss) before income taxes	(108.9)	17.4	(148.2)	2.6
Operating Segments
Segment Reporting Information [Line Items]
Company’s total segment profit	27.0	130.7	123.9	222.8
Corporate
Segment Reporting Information [Line Items]
Corporate general and administrative expenses	(28.1)	(26.5)	(59.2)	(51.0)
Corporate and Reconciling Items
Segment Reporting Information [Line Items]
Adjusted depreciation and amortization	(3.2)	(2.4)	(6.7)	(5.2)
Restructuring and other	(7.2)	(4.9)	(34.9)	(9.0)
COVID-19 related benefit (charges) included in direct operating expense	0.0	0.5	2.1	0.4
Content charges	0.0	(0.4)	0.0	(0.8)
Unallocated rent cost included in direct operating expense	(5.2)	0.0	(10.5)	0.0
Adjusted share-based compensation expense	(15.3)	(17.4)	(27.9)	(29.0)
Purchase accounting and related adjustments	$ (2.8)	$ (3.6)	$ (5.9)	$ (15.2)

Net Income (Loss) Per Share (Tables)

6 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income Loss Per Share

Basic and diluted net income (loss) per share for the three and six months ended September 30, 2024 and 2023 is presented below:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions, except per share amounts)
Basic and Diluted Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$	(113.4)	$	15.2	$	(156.8)	$	(5.3)
Accretion of redeemable noncontrolling interest	(0.3)		—		(0.6)		—
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest	$	(113.7)	$	15.2	$	(157.4)	$	(5.3)

Denominator:
Weighted average common shares outstanding	288.7		253.4		280.6		253.4
Basic and diluted net income (loss) per common share	$	(0.39)	$	0.06	$	(0.56)	$	(0.02)

Schedule of Outstanding Common Shares Issuable Excluded from Diluted Net Income Loss Per Common Share

Additionally, for the three and six months ended September 30, 2024 and 2023, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because they are contingently issuable upon certain vesting criteria that have not been met as of the reporting period.


	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2024	2023	2024	2023
	(Amounts in millions)

SEAC Sponsor Options	2.2	—	2.2	—

Derivative Instruments and Hedging Activities - Schedule of Pre-Tax Effect of Derivatives on Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total direct operating expense on consolidated statements of operations	$ 628.2	$ 510.5	$ 983.8	$ 872.5
Total interest expense on consolidated statements of operations	63.0	51.7	121.6	101.6
Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive income (loss)	0.8	(0.6)	1.0	(3.1)
Gain (loss) reclassified from accumulated other comprehensive (income) loss	(0.2)	(0.4)	(1.2)	0.1
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive income (loss)	(6.3)	9.3	(2.8)	36.4
Gain (loss) reclassified from accumulated other comprehensive (income) loss	11.4	10.9	22.3	20.1
Loss reclassified from accumulated other comprehensive income (loss) into interest expense	$ (1.5)	$ (1.8)	$ (3.1)	$ (3.8)

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

Description of Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business, Basis of Presentation and Significant Accounting Policies	1. Description of Business, Basis of Presentation and Significant Accounting Policies Nature of Operations Lionsgate Studios Corp. (the “Company,” “Lionsgate Studios,” “we,” “us,” or “our”) is a subsidiary of Lions Gate Entertainment Corp. (“Lionsgate” or “Parent”) which encompasses the motion picture and television studio operations (collectively referred to as the “Studio Business”) of Lionsgate. The Studio Business consists of the Motion Picture and Television Production reportable segments, together with substantially all of Lionsgate’s corporate general and administrative costs. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the domestic and international licensing of Starz original productions to the Media Networks segment of Lionsgate and its subsidiaries (the “Starz Business”), and the ancillary market distribution of Starz original productions and licensed product. Additionally, the Television Production segment includes the results of operations of 3 Arts Entertainment, a talent management company. Separation and Business Combination On May 13, 2024, Lionsgate consummated the transactions contemplated by that certain business combination agreement (the “Business Combination Agreement”), with Screaming Eagle Acquisition Corp., a Cayman Islands exempted company (“SEAC”), SEAC II Corp., a Cayman Islands exempted company and a wholly-owned subsidiary of SEAC (“New SEAC”), LG Sirius Holdings ULC, a British Columbia unlimited liability company and a wholly-owned subsidiary of Lionsgate (“Studio HoldCo”), LG Orion Holdings ULC, a British Columbia unlimited liability company and wholly-owned subsidiary of Lionsgate (“StudioCo”), and other affiliates of SEAC. Pursuant to the terms and conditions of the Business Combination Agreement, the Studio Business was combined with SEAC through a series of transactions, including an amalgamation of StudioCo and New SEAC under a Canadian plan of arrangement (the “Business Combination”). In connection with the closing of the Business Combination, New SEAC changed its name to “Lionsgate Studios Corp.” and continues the existing business operations of the Studio Business of Lionsgate. The Company became a separate publicly traded company and its common shares, without par value (“LG Studios Common Shares”), commenced trading on Nasdaq under the symbol “LION” on May 14, 2024. In connection with and prior to the Business Combination, Lionsgate and StudioCo entered into a separation agreement pursuant to which the assets and liabilities of the Studio Business were transferred to StudioCo such that StudioCo held, directly or indirectly, all of the assets and liabilities of the Studio Business (the “Separation”). The Business Combination was accounted for as a reverse recapitalization in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). Under this method of accounting, SEAC is treated as the acquired company and the Studio Business is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Lionsgate Studios will represent a continuation of the financial statements of the Studio Business, with the Business Combination treated as the equivalent of the Studio Business issuing LG Studios Common Shares for the historical net assets of SEAC, substantially consisting of cash held in the trust account, accompanied by a recapitalization of the Studio Business equity. The historical net assets were stated at fair value, which approximated historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of the Studio Business. The Studio Business has been determined to be the accounting acquirer in the Business Combination because Lionsgate continues to hold a controlling financial interest. As a result of the Business Combination and additional private investments in public equities (“PIPE”) financing discussed in Note 2, former SEAC public shareholders and founders and new common equity financing investors own approximately 12.2% of LG Studios Common Shares. In addition to establishing the Studio Business as a standalone publicly-traded entity, the transaction resulted in approximately $330.0 million of gross proceeds to Lionsgate received as of September 30, 2024, including $254.3 million in PIPE financing. See Note 2 for additional information related to the Business Combination. Shortly after the closing of the Business Combination, approximately $299.0 million was used by the Company to pay down the Intercompany Note, see Note 7. Basis of Presentation Upon the effective date of the Separation, the Company’s financial statements are presented on a consolidated basis, as Lionsgate completed the contribution of the Studio Business on such date. The unaudited financial statements for all periods presented, including the historical results of the Company prior to the Separation, are now referred to as the “condensed consolidated financial statements”. For periods prior to the Separation, the Company operated as a segment of Lionsgate and not as a separate entity. The Company’s financial statements prior to the Separation were prepared on a carve-out basis and were derived from Lionsgate’s consolidated financial statements and accounting records and reflect Studio Business’s combined historical financial position, results of operations and cash flows as they were historically managed in accordance with U.S. GAAP. Prior to the Separation, a management approach was applied to determine the carve-out basis of presentation. In using the management approach, considerations over how the business operates were utilized to identify historical operations that should be presented within the carve-out financial statements. For periods subsequent to the Separation, the accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate Studios and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S.GAAP for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and six months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. The balance sheet at March 31, 2024 has been derived from the audited combined financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the Studio Business’ audited combined financial statements and related notes for the fiscal year ended March 31, 2024 as contained in Exhibit 99.1 of Amendment No. 2 to the Current Report on Form 8-K filed on October 15, 2024 with the U.S. Securities and Exchange Commission (“SEC”). Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. All revenues and costs as well as assets and liabilities directly associated with the business activity of the Studio Business were included in the accompanying unaudited condensed consolidated financial statements. Revenues and costs associated with the Studio Business were specifically identifiable in the accounting records maintained by Lionsgate and primarily represent the revenue and costs used for the determination of segment profit of the Motion Picture and Television Production segments of Lionsgate. In addition, prior to the separation, the Studio Business costs included an allocation of corporate general and administrative expense (inclusive of share-based compensation) which was allocated to the Studio Business as further discussed below. Other costs excluded from the Motion Picture and Television Production segment profit but relating to the Studio Business were generally specifically identifiable as costs of the Studio Business in the accounting records of Lionsgate and were included in the accompanying unaudited condensed consolidated financial statements in periods prior to the Separation. In connection with the Business Combination, on May 9, 2024, Lionsgate and StudioCo entered into a shared services and overhead sharing agreement (the “Shared Services Agreement”) which took effect upon the closing of the Business Combination. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to the Starz Business of Lionsgate. The $10.0 million allocation of Lionsgate’s corporate general and administrative expenses to the Starz Business pursuant to the Shared Services Agreement is designed to reflect the portion of corporate expenses expended and reflective of the level of effort and costs incurred related to management oversight and services provided for the Starz Business post Separation with consideration of the anticipated separation of the Starz Business. The corporate general and administrative expenses that are allocated to the Company pursuant to the Shared Services Agreement include salaries and wages for certain executives and other corporate officers related to executive oversight, investor relations costs, costs for the maintenance of corporate facilities, and other common administrative support functions, including corporate accounting, finance and financial reporting, audit and tax costs, corporate and other legal support functions, and certain information technology and human resources. In addition, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company will continue to receive awards of equity and equity-based compensation pursuant to the existing plans of Lionsgate. Such awards will be treated as a capital contribution by Lionsgate to the Company, with the associated stock based compensation expense for such awards allocated to the Company, see Note 13. For periods prior to the Separation, the unaudited condensed combined financial statements of the Studio Business included allocations of corporate general and administrative expenses (inclusive of share-based compensation) from Lionsgate related to the corporate and shared service functions historically provided by Lionsgate. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on a pro rata basis of consolidated Lionsgate revenue, payroll expense or other measures considered to be a reasonable reflection of the historical utilization levels of these services. Management believes the assumptions underlying these unaudited condensed consolidated financial statements, including the assumptions regarding the allocation of general and administrative expenses from Lionsgate to the Studio Business prior to the Separation, are reasonable. See Note 20 for further detail of the allocations included in the unaudited condensed consolidated financial statements. In connection with the Business Combination, the Company entered into certain intercompany note arrangements, which mirrored the terms and amounts outstanding under Lionsgate’s credit facilities as previously reflected in the historical financial statements of the Studio Business prior to the Separation, see Note 7. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; the allocations of costs to the Company for certain corporate and shared service functions in preparing the unaudited condensed consolidated financial statements for periods prior to the Separation on a carve-out basis; fair value of assets and liabilities for allocation of the purchase price of companies and assets acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; impairment assessments for investment in films and television programs, property and equipment, equity investments and goodwill. Actual results could differ from such estimates. Recent Accounting Pronouncements Segment Reporting: In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Taxes: In December 2023, the FASB issued guidance which expands income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, this guidance requires all entities disaggregate disclosures by jurisdiction on the amount of income taxes paid (net of refunds received), income or loss from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. This guidance is effective for fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Statement: In November 2024, the FASB issued guidance requiring public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This guidance is effective for fiscal years beginning after December 15, 2026, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2028 and interim reporting periods beginning in fiscal 2029, with early adoption permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures.

Noncontrolling Interests - Schedule of Changes in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 123.3	$ 343.6
Net loss attributable to redeemable noncontrolling interests	(1.3)	(3.3)
Adjustments to redemption value	0.6	71.0
Cash distributions	0.5	(0.6)
Purchase of noncontrolling interest	(23.4)	(0.6)
Ending balance	$ 99.7	$ 410.1

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

Debt - eOne IP Credit Facility - Narrative (Details) - Secured Debt - Line of Credit - eOne IP Credit Facility - USD ($) $ in Millions	1 Months Ended
	Jul. 31, 2024	Sep. 30, 2024
Debt Instrument [Line Items]
Credit facility, maximum principal amount	$ 340.0
Periodic payment, principal	$ 8.5
Basis spread on variable interest rate (as percent)	2.25%
Effective interest rate (as percent)		7.10%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Segment Information - Schedule of Reconciliation of Total Segment Assets to Total Consolidated Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,261.4	$ 5,103.0
Operating Segments \| Motion Picture
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,924.9	1,851.4
Operating Segments \| Television Production
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,401.0	2,347.8
Operating Segments \| Other unallocated assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	935.5	903.8
Other Unallocated Assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,261.4	$ 5,103.0

Amount of asset recognized for present right to economic benefit.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-25

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 30: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Revenue - Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 1,778.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 824.0
Remaining Performance Obligations, performance period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 781.8
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 114.4
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 58.6
Remaining Performance Obligations, performance period

Film Related Obligations - Schedule of Cumulative Minimum Guaranteed Payments of Film Library Facility (Details) - Secured Debt - Film Library Facility $ in Millions	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
November 14, 2024	$ 60.7
November 14, 2025	91.1
November 14, 2026	121.4
July 30, 2027	$ 161.9

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Restructuring and Other - Schedule of Restructuring and Other and Other Unusual Charges or Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 7.2	$ 4.9	$ 34.9	$ 9.0
Total restructuring and other and other unusual charges not included in restructuring and other	12.4	4.4	43.3	8.6
Insurance recoveries	0.0	0.5	2.1	0.5
Corporate and Reconciling Items
Restructuring Cost and Reserve [Line Items]
Restructuring and other	7.2	4.9	34.9	9.0
COVID-19 related (charges) benefit included in direct operating expense	0.0	(0.5)	(2.1)	(0.4)
Unallocated rent cost included in direct operating expense	5.2	0.0	10.5	0.0
Direct Operating Expense
Restructuring Cost and Reserve [Line Items]
COVID-19 related (charges) benefit included in direct operating expense	0.0	(0.5)	(2.1)	(0.4)
Other Impairments
Restructuring Cost and Reserve [Line Items]
Restructuring and other	0.5	0.0	18.5	0.0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other	1.1	1.0	4.1	3.5
Transaction and Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 5.6	$ 3.9	$ 12.3	$ 5.5

Capital Stock - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	$ 8.6	$ 13.5	$ 17.0	$ 21.4
Corporate allocation of share-based compensation	6.7	3.9	10.9	7.6
Share-based payment arrangement, total	15.3	17.4	27.9	29.0
Impact of accelerated vesting on equity awards	4.6	0.0	4.6	0.5
Total share-based compensation expense	19.9	17.4	32.5	29.5
Stock options
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	0.2	0.5	0.4	0.9
Restricted share units and other share-based compensation
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	8.2	12.9	16.3	20.3
Share appreciation rights
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	$ 0.2	$ 0.1	$ 0.3	$ 0.2

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	May 09, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
General and administration		$ 84.9	$ 87.1	$ 177.0	$ 175.5
Corporate
Related Party Transaction [Line Items]
Corporate general and administrative expenses		28.1	26.5	59.2	51.0
Related Party \| Lionsgate Corporate
Related Party Transaction [Line Items]
General and administration		28.1		59.2
General and Administrative Expenses Allocated to Parent \| Related Party
Related Party Transaction [Line Items]
Amounts of transaction	$ 10.0
Expenses Allocated After Separation \| Related Party \| Lionsgate Corporate
Related Party Transaction [Line Items]
General and administration		$ 28.1		45.0
Corporate Expense Allocation Excluding Share-Based Compensation \| Corporate
Related Party Transaction [Line Items]
Corporate general and administrative expenses			$ 26.5	$ 14.2	$ 51.0

Derivative Instruments and Hedging Activities

6 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities

18. Derivative Instruments and Hedging Activities

Forward Foreign Exchange Contracts

The Company enters into forward foreign exchange contracts to hedge its foreign currency exposures on future production expenses and tax credit receivables denominated in various foreign currencies (i.e., cash flow hedges). The Company also enters into forward foreign exchange contracts that economically hedge certain of its foreign currency risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company monitors its positions with, and the credit quality of, the financial institutions that are party to its financial transactions. Changes in the fair value of the foreign exchange contracts that are designated as hedges are reflected in accumulated other comprehensive income (loss), and changes in the fair value of foreign exchange contracts that are not designated as hedges and do not qualify for hedge accounting are recorded in direct operating expense. Gains and losses realized upon settlement of the foreign exchange contracts that are designated as hedges are amortized to direct operating expense on the same basis as the production expenses being hedged.

As of September 30, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 19 months from September 30, 2024):


September 30, 2024
Foreign Currency	Foreign Currency Amount			US Dollar Amount		Weighted Average Exchange Rate Per $1 USD
	(Amounts in millions)			(Amounts in millions)
Czech Koruna	180.0	CZK	in exchange for	$	7.7	23.29	CZK
Euro	14.8	EUR	in exchange for	$	16.6	0.90	EUR
Canadian Dollar	15.0	CAD	in exchange for	$	11.1	1.35	CAD
Mexican Peso	199.1	MXN	in exchange for	$	10.4	19.73	MXN
Hungarian Forint	1,498.7	HUF	in exchange for	$	3.9	371.46	HUF
New Zealand Dollar	3.6	NZD	in exchange for	$	2.3	1.64	NZD

Interest Rate Swaps

The Company is exposed to the impact of interest rate changes, primarily through its borrowing activities. The Company’s objective is to mitigate the impact of interest rate changes on earnings and cash flows. The Company primarily uses pay-fixed interest rate swaps to facilitate its interest rate risk management activities, which the Company generally designates as cash flow hedges of interest payments on floating-rate borrowings. Pay-fixed swaps effectively convert floating-rate borrowings to fixed-rate borrowings. The unrealized gains or losses from these designated cash flow hedges are deferred in accumulated other comprehensive income (loss) and recognized in interest expense as the interest payments occur. Changes in the fair value of interest rate swaps that are not designated as hedges are recorded in interest expense (see further explanation below).

Cash settlements related to interest rate contracts are generally classified as operating activities on the consolidated statements of cash flows.

In connection with the Separation, Business Combination and Intercompany Note described in Note 7, the Company assumed the rights, obligations, costs and benefits associated with and provided under the terms of Lionsgate’s floating-to-fixed swap contracts.


Effective Date	Notional Amount	Fixed Rate Paid	Maturity Date
	(in millions)
May 23, 2018	$300.0	2.915%	March 24, 2025
May 23, 2018	$700.0	2.915%	March 24, 2025
June 25, 2018	$200.0	2.723%	March 23, 2025
July 31, 2018	$300.0	2.885%	March 23, 2025
December 24, 2018	$50.0	2.744%	March 23, 2025
December 24, 2018	$100.0	2.808%	March 23, 2025
December 24, 2018	$50.0	2.728%	March 23, 2025
August 15, 2024 (1)	$65.0	4.045%	September 15, 2026
August 15, 2024 (1)	$77.5	3.803%	August 15, 2026
August 15, 2024 (1)	$77.5	3.810%	September 15, 2026
Total	$1,920.0

___________________

(1)Entered into during the three months ended September 30, 2024.

Financial Statement Effect of Derivatives

Unaudited condensed consolidated statements of operations and comprehensive income (loss): The following table presents the pre-tax effect of the Company’s derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for 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)
Derivatives designated as cash flow hedges:
Forward exchange contracts
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	0.8	$	(0.6)	$	1.0	$	(3.1)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense	$	(0.2)	$	(0.4)	$	(1.2)	$	0.1
Interest rate swaps
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	(6.3)	$	9.3	$	(2.8)	$	36.4
Gain reclassified from accumulated other comprehensive income (loss) into interest expense	$	11.4	$	10.9	$	22.3	$	20.1

Derivatives not designated as cash flow hedges:
Interest rate swaps
Loss reclassified from accumulated other comprehensive income (loss) into interest expense	$	(1.5)	$	(1.8)	$	(3.1)	$	(3.8)

Total direct operating expense on consolidated statements of operations	$	628.2	$	510.5	$	983.8	$	872.5
Total interest expense on consolidated statements of operations	$	63.0	$	51.7	$	121.6	$	101.6

Unaudited condensed consolidated balance sheets: The Company classifies its forward foreign exchange contracts and interest rate swap agreements within Level 2 as the valuation inputs are based on quoted prices and market observable data of

similar instruments (see Note 9). Pursuant to the Company’s accounting policy to offset the fair value amounts recognized for derivative instruments, the Company presents the asset or liability position of the swaps that are with the same counterparty under a master netting arrangement net as either an asset or liability in its unaudited condensed consolidated balance sheets. As of September 30, 2024 and March 31, 2024, there were no swaps outstanding that were subject to a master netting arrangement.


	September 30, 2024
	Other Current Assets		Other Accrued Liabilities (current)		Other Liabilities (non-current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	—	$	0.6	$	—
Interest rate swaps	12.2		—		(1.7)
Fair value of derivatives	$	12.2	$	0.6	$	(1.7)


	March 31, 2024
	Other Current Assets		Other Accrued Liabilities (current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	—	$	2.8
Interest rate swaps	35.6		—
Fair value of derivatives	$	35.6	$	2.8

As of September 30, 2024, based on the current release schedule, the Company estimates approximately $1.2 million of gains associated with forward foreign exchange contract cash flow hedges in accumulated other comprehensive income (loss) will be reclassified into earnings during the one-year period ending September 30, 2025.

As of September 30, 2024, the Company estimates approximately $23.4 million of gains recorded in accumulated other comprehensive income (loss) associated with interest rate swap agreement cash flow hedges will be reclassified into interest expense during the one-year period ending September 30, 2025.

Noncontrolling Interests - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2024	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Jan. 31, 2027	Jun. 05, 2024
Redeemable Noncontrolling Interest [Line Items]
Purchase of noncontrolling interest	$ 194.1		$ 7.4	$ 0.6
Decrease from redemptions			23.4	$ 0.6
Accumulated deficit			(1,451.8)		$ (1,249.1)
Noncontrolling interests			34.9		2.2
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
Increase in ownership percentage	25.00%
Temporary equity, other changes			$ 93.2		$ 93.2
3 Arts Entertainment \| Forecast
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling owner's right to purchase remaining ownership interest of parent (as a percent)						24.00%
Pilgrim Media Group
Redeemable Noncontrolling Interest [Line Items]
Purchase of noncontrolling interest		$ 13.5
Ownership percentage		12.50%
Decrease from redemptions		$ 23.4
Accumulated deficit		$ 9.9
CP LG Library Holdings, LLC
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership (as Percent)							49.00%
Noncontrolling interests							$ 33.6

Revenue - Schedule of Changes in Provision for Doubtful Accounts (Details) $ in Millions	6 Months Ended
	Sep. 30, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6.4
(Benefit) provision for doubtful accounts	(1.1)
Other	2.5
Uncollectible accounts written-off	(1.0)
Ending balance	$ 6.8

Net Income (Loss) Per Share

6 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. Basic and diluted net income (loss) per share for the three and six months ended September 30, 2024 and 2023 is presented below:


	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(Amounts in millions, except per share amounts)
Basic and Diluted Net Income (Loss) Per Common Share:
Numerator:
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$	(113.4)	$	15.2	$	(156.8)	$	(5.3)
Accretion of redeemable noncontrolling interest	(0.3)		—		(0.6)		—
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest	$	(113.7)	$	15.2	$	(157.4)	$	(5.3)

Denominator:
Weighted average common shares outstanding	288.7		253.4		280.6		253.4
Basic and diluted net income (loss) per common share	$	(0.39)	$	0.06	$	(0.56)	$	(0.02)

For periods prior to the Separation, basic net income (loss) per share and diluted net loss per share was calculated based on the 253.4 million shares issued to Lionsgate at the closing of the Business Combination.


	Three Months Ended		Six Months Ended
	September 30,		September 30,
	2024	2023	2024	2023
	(Amounts in millions)

SEAC Sponsor Options	2.2	—	2.2	—

Description of Business, Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Separation and Business Combination	Separation and Business Combination On May 13, 2024, Lionsgate consummated the transactions contemplated by that certain business combination agreement (the “Business Combination Agreement”), with Screaming Eagle Acquisition Corp., a Cayman Islands exempted company (“SEAC”), SEAC II Corp., a Cayman Islands exempted company and a wholly-owned subsidiary of SEAC (“New SEAC”), LG Sirius Holdings ULC, a British Columbia unlimited liability company and a wholly-owned subsidiary of Lionsgate (“Studio HoldCo”), LG Orion Holdings ULC, a British Columbia unlimited liability company and wholly-owned subsidiary of Lionsgate (“StudioCo”), and other affiliates of SEAC. Pursuant to the terms and conditions of the Business Combination Agreement, the Studio Business was combined with SEAC through a series of transactions, including an amalgamation of StudioCo and New SEAC under a Canadian plan of arrangement (the “Business Combination”). In connection with the closing of the Business Combination, New SEAC changed its name to “Lionsgate Studios Corp.” and continues the existing business operations of the Studio Business of Lionsgate. The Company became a separate publicly traded company and its common shares, without par value (“LG Studios Common Shares”), commenced trading on Nasdaq under the symbol “LION” on May 14, 2024. In connection with and prior to the Business Combination, Lionsgate and StudioCo entered into a separation agreement pursuant to which the assets and liabilities of the Studio Business were transferred to StudioCo such that StudioCo held, directly or indirectly, all of the assets and liabilities of the Studio Business (the “Separation”). The Business Combination was accounted for as a reverse recapitalization in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). Under this method of accounting, SEAC is treated as the acquired company and the Studio Business is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Lionsgate Studios will represent a continuation of the financial statements of the Studio Business, with the Business Combination treated as the equivalent of the Studio Business issuing LG Studios Common Shares for the historical net assets of SEAC, substantially consisting of cash held in the trust account, accompanied by a recapitalization of the Studio Business equity. The historical net assets were stated at fair value, which approximated historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of the Studio Business. The Studio Business has been determined to be the accounting acquirer in the Business Combination because Lionsgate continues to hold a controlling financial interest.
Basis of Presentation	Basis of Presentation Upon the effective date of the Separation, the Company’s financial statements are presented on a consolidated basis, as Lionsgate completed the contribution of the Studio Business on such date. The unaudited financial statements for all periods presented, including the historical results of the Company prior to the Separation, are now referred to as the “condensed consolidated financial statements”. For periods prior to the Separation, the Company operated as a segment of Lionsgate and not as a separate entity. The Company’s financial statements prior to the Separation were prepared on a carve-out basis and were derived from Lionsgate’s consolidated financial statements and accounting records and reflect Studio Business’s combined historical financial position, results of operations and cash flows as they were historically managed in accordance with U.S. GAAP. Prior to the Separation, a management approach was applied to determine the carve-out basis of presentation. In using the management approach, considerations over how the business operates were utilized to identify historical operations that should be presented within the carve-out financial statements. For periods subsequent to the Separation, the accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate Studios and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S.GAAP for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and six months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. The balance sheet at March 31, 2024 has been derived from the audited combined financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the Studio Business’ audited combined financial statements and related notes for the fiscal year ended March 31, 2024 as contained in Exhibit 99.1 of Amendment No. 2 to the Current Report on Form 8-K filed on October 15, 2024 with the U.S. Securities and Exchange Commission (“SEC”). Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. All revenues and costs as well as assets and liabilities directly associated with the business activity of the Studio Business were included in the accompanying unaudited condensed consolidated financial statements. Revenues and costs associated with the Studio Business were specifically identifiable in the accounting records maintained by Lionsgate and primarily represent the revenue and costs used for the determination of segment profit of the Motion Picture and Television Production segments of Lionsgate. In addition, prior to the separation, the Studio Business costs included an allocation of corporate general and administrative expense (inclusive of share-based compensation) which was allocated to the Studio Business as further discussed below. Other costs excluded from the Motion Picture and Television Production segment profit but relating to the Studio Business were generally specifically identifiable as costs of the Studio Business in the accounting records of Lionsgate and were included in the accompanying unaudited condensed consolidated financial statements in periods prior to the Separation. In connection with the Business Combination, on May 9, 2024, Lionsgate and StudioCo entered into a shared services and overhead sharing agreement (the “Shared Services Agreement”) which took effect upon the closing of the Business Combination. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to the Starz Business of Lionsgate. The $10.0 million allocation of Lionsgate’s corporate general and administrative expenses to the Starz Business pursuant to the Shared Services Agreement is designed to reflect the portion of corporate expenses expended and reflective of the level of effort and costs incurred related to management oversight and services provided for the Starz Business post Separation with consideration of the anticipated separation of the Starz Business. The corporate general and administrative expenses that are allocated to the Company pursuant to the Shared Services Agreement include salaries and wages for certain executives and other corporate officers related to executive oversight, investor relations costs, costs for the maintenance of corporate facilities, and other common administrative support functions, including corporate accounting, finance and financial reporting, audit and tax costs, corporate and other legal support functions, and certain information technology and human resources. In addition, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company will continue to receive awards of equity and equity-based compensation pursuant to the existing plans of Lionsgate. Such awards will be treated as a capital contribution by Lionsgate to the Company, with the associated stock based compensation expense for such awards allocated to the Company, see Note 13. For periods prior to the Separation, the unaudited condensed combined financial statements of the Studio Business included allocations of corporate general and administrative expenses (inclusive of share-based compensation) from Lionsgate related to the corporate and shared service functions historically provided by Lionsgate. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on a pro rata basis of consolidated Lionsgate revenue, payroll expense or other measures considered to be a reasonable reflection of the historical utilization levels of these services. Management believes the assumptions underlying these unaudited condensed consolidated financial statements, including the assumptions regarding the allocation of general and administrative expenses from Lionsgate to the Studio Business prior to the Separation, are reasonable. See Note 20 for further detail of the allocations included in the unaudited condensed consolidated financial statements. In connection with the Business Combination, the Company entered into certain intercompany note arrangements, which mirrored the terms and amounts outstanding under Lionsgate’s credit facilities as previously reflected in the historical financial statements of the Studio Business prior to the Separation, see Note 7.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; the allocations of costs to the Company for certain corporate and shared service functions in preparing the unaudited condensed consolidated financial statements for periods prior to the Separation on a carve-out basis; fair value of assets and liabilities for allocation of the purchase price of companies and assets acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; impairment assessments for investment in films and television programs, property and equipment, equity investments and goodwill. Actual results could differ from such estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Segment Reporting: In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Taxes: In December 2023, the FASB issued guidance which expands income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, this guidance requires all entities disaggregate disclosures by jurisdiction on the amount of income taxes paid (net of refunds received), income or loss from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. This guidance is effective for fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Statement: In November 2024, the FASB issued guidance requiring public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This guidance is effective for fiscal years beginning after December 15, 2026, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2028 and interim reporting periods beginning in fiscal 2029, with early adoption permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (114.0)	$ 13.5	$ (158.3)	$ (7.8)
Foreign currency translation adjustments, net of tax	14.7	(2.2)	11.7	(1.3)
Net unrealized gain (loss) on cash flow hedges, net of tax	(15.2)	0.0	(19.8)	16.9
Comprehensive income (loss)	(114.5)	11.3	(166.4)	7.8
Less: Comprehensive loss attributable to noncontrolling interests	0.6	1.7	1.5	2.5
Comprehensive income (loss) attributable to Lionsgate Studios Corp. shareholders	$ (113.9)	$ 13.0	$ (164.9)	$ 10.3

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-SubTopic 10
-Topic 810
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-20

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(25))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-19

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4J

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-2

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A