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Segment Information (Tables)
 9 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
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 EndedNine Months Ended
December 31, December 31,
2024202320242023
 (Amounts in millions)
Segment revenues
Motion Picture$309.2 $443.2 $1,063.3 $1,245.6 
Television Production404.6 248.4 1,062.5 860.7 
Total revenue$713.8 $691.6 $2,125.8 $2,106.3 
Gross contribution
Motion Picture$106.0 $127.5 $246.1 $320.3 
Television Production75.4 21.6 145.3 134.6 
Total gross contribution181.4 149.1 391.4 454.9 
Segment general and administration
Motion Picture22.4 27.1 73.6 83.2 
Television Production14.5 13.5 49.3 40.5 
Total segment general and administration36.9 40.6 122.9 123.7 
Segment profit
Motion Picture83.6 100.4 172.5 237.1 
Television Production60.9 8.1 96.0 94.1 
Total segment profit$144.5 $108.5 $268.5 $331.2 
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 EndedNine Months Ended
December 31, December 31,
2024202320242023
 (Amounts in millions)
Company’s total segment profit$144.5 $108.5 $268.5 $331.2 
Corporate general and administrative expenses(1)
(28.4)(25.2)(87.6)(76.2)
Adjusted depreciation and amortization(2)
(3.4)(1.8)(10.1)(7.1)
Restructuring and other(40.9)(52.5)(75.8)(61.5)
COVID-19 related benefit (charges) included in direct operating expense(3)
— — 2.1 0.5 
Content charges(4)
— (0.3)— (1.1)
Unallocated rent cost included in direct operating expense(5)
(4.1)— (14.6)— 
Adjusted share-based compensation expense(6)
(14.3)(17.2)(42.2)(46.3)
Purchase accounting and related adjustments(7)
(3.8)(4.2)(9.8)(19.4)
Operating income 49.6 7.3 30.5 120.1 
Interest expense(58.5)(55.5)(180.1)(157.1)
Interest and other income3.1 1.7 11.4 6.9 
Other gains (losses), net10.1 (0.6)(5.2)(14.3)
Loss on extinguishment of debt(0.3)— (1.8)— 
Gain on investments, net— 4.4 — 2.7 
Equity interests income7.6 4.2 8.5 5.7 
Income (loss) before income taxes$11.6 $(38.5)$(136.7)$(36.0)
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(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 EndedNine Months Ended
December 31, December 31,
2024202320242023
 (Amounts in millions)
Depreciation and amortization$4.4 $3.0 $13.2 $11.1 
Less: Amount included in purchase accounting and related adjustments(1.0)(1.2)(3.1)(4.0)
Adjusted depreciation and amortization$3.4 $1.8 $10.1 $7.1 

(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 EndedNine Months Ended
December 31, December 31,
2024202320242023
 (Amounts in millions)
Total share-based compensation expense
$14.3 $24.0 $46.9 $53.6 
Less:
Amount included in restructuring and other(i)
— (6.8)(4.7)(7.3)
Adjusted share-based compensation$14.3 $17.2 $42.2 $46.3 
(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 EndedNine Months Ended
December 31, December 31,
2024202320242023
 (Amounts in millions)
Purchase accounting and related adjustments:
General and administrative expense(i)
$2.8 $3.0 $6.7 $15.4 
Depreciation and amortization1.0 1.2 3.1 4.0 
$3.8 $4.2 $9.8 $19.4 
(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.
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 EndedNine Months Ended
December 31, December 31,
2024202320242023
(Amounts in millions)
General and administration
Segment general and administrative expenses$36.9 $40.6 $122.9 $123.7 
Corporate general and administrative expenses28.4 25.2 87.6 76.2 
Share-based compensation expense included in general and administrative expense
14.3 17.2 42.2 46.3 
Purchase accounting and related adjustments 2.8 3.0 6.7 15.4 
$82.4 $86.0 $259.4 $261.6 
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:
 
December 31, 2024March 31, 2024
 (Amounts in millions)
Assets
Motion Picture$1,916.8 $1,851.4 
Television Production2,555.6 2,347.8 
Other unallocated assets(1)
902.1 903.8 
$5,374.5 $5,103.0 
_____________________
(1)Other unallocated assets primarily consist of cash, other assets and investments.