Fair Value Measurements (Tables)

9 Months Ended

12 Months Ended

Dec. 31, 2024

Oct. 01, 2023

Mar. 31, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

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

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

	December 31, 2024						March 31, 2024
	Level 1		Level 2		Total		Level 1		Level 2			Total
Assets:	(Amounts in millions)
Forward exchange contracts (see Note 18)	$	—	$	1.9	$	1.9	$	—	$	—		$	—
Interest rate swaps (see Note 18)		—		0.7		0.7		—		35.6			35.6
Liabilities:
Forward exchange contracts (see Note 18)		—		—		—		—		(2.8	)		(2.8	)
Interest rate swaps (see Note 18)		—		—		—		—		—			—

The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of March 31, 2024 and 2023:

	March 31, 2024								March 31, 2023
	Level 1		Level 2			Total			Level 1		Level 2			Total
	(Amounts in millions)
Assets:
Forward exchange contracts (see Note 18)	$	—	$	—		$	—		$	—	$	2.9		$	2.9
Interest rate swaps (see Note 18)		—		35.6			35.6			—		41.1			41.1
Liabilities:
Forward exchange contracts (see Note 18)		—		(2.8	)		(2.8	)		—		(0.1	)		(0.1	)

Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis

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

	December 31, 2024				March 31, 2024
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Intercompany Revolver	$	134.4	$	134.4	$	—	$	—
LGTV Revolver		386.8		390.0		569.9		575.0
LGTV Term Loan A		313.1		313.6		396.6		397.3
LGTV Term Loan B		—		—		816.9		818.1
eOne IP Credit Facility		325.8		331.5		—		—
LG IP Credit Facility		836.0		850.0		—		—
Production Loans		1,342.3		1,346.0		1,286.2		1,292.2
Production Tax Credit Facility		257.7		257.8		258.7		260.0
Backlog Facility and Other		178.6		179.0		285.4		287.3
Film Library Facility		85.7		87.5		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).

Summary Of Carrying Values And Fair Values Of The Company

The following table sets forth the carrying values and fair values of the Company’s outstanding debt, film related obligations, and interest rate swaps at March 31, 2024 and 2023:

	March 31, 2024				March 31, 2023
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Term Loan A	$	396.6	$	397.3	$	424.2	$	415.4
Term Loan B		816.9		818.1		827.2		817.1
Production Loans		1,286.2		1,292.2		1,346.1		1,349.9
Production Tax Credit Facility		258.7		260.0		229.4		231.8
Backlog Facility and Other		285.4		287.3		223.7		226.0
IP Credit Facility		107.6		109.9		140.8		143.8

(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).

LIONS GATE ENTERTAINMENT CORP [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

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

The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of March 31, 2024 and 2023:

	March 31, 2024								March 31, 2023
	Level 1		Level 2			Total			Level 1		Level 2			Total
Assets:	(Amounts in millions)
Forward exchange contracts (see Note 18)	$	—	$	—		$	—		$	—	$	2.9		$	2.9
Interest rate swaps (see Note 18)		—		35.6			35.6			—		41.1			41.1
Liabilities:
Forward exchange contracts (see Note 18)		—		(2.8	)		(2.8	)		—		(0.1	)		(0.1	)

Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis

The following table sets forth the carrying values and fair values of the Company’s outstanding debt, film related obligations, and interest rate swaps at March 31, 2024 and 2023:

	March 31, 2024				March 31, 2023
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Term Loan A	$	396.6	$	397.3	$	424.2	$	415.4
Term Loan B		816.9		818.1		827.2		817.1
5.500% Senior Notes		696.6		536.2		776.0		510.0
Production Loans		1,286.2		1,292.2		1,346.1		1,349.9
Production Tax Credit Facility		258.7		260.0		229.4		231.8
Programming Notes		—		—		83.6		83.6
Backlog Facility and Other		285.4		287.3		223.7		226.0
IP Credit Facility		107.6		109.9		140.8		143.8

(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).

Summary Of Carrying Values And Fair Values Of The Company

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

	December 31, 2024				March 31, 2024
	(Amounts in millions)
	Carrying Value		Fair Value(1)		Carrying Value		Fair Value(1)
			(Level 2)				(Level 2)
Revolving Credit Facility	$	386.8	$	390.0	$	569.9	$	575.0
Term Loan A		313.1		313.6		396.6		397.3
Term Loan B		—		—		816.9		818.1
5.5% Senior Notes and Exchange Notes		699.1		604.9		696.6		536.2
eOne IP Credit Facility		325.8		331.5		—		—
LG IP Credit Facility		836.0		850.0		—		—
Production Loans		1,342.3		1,346.0		1,286.2		1,292.2
Production Tax Credit Facility		257.7		257.8		258.7		260.0
Programming Notes		75.8		75.8		—		—
Backlog Facility and Other		178.6		179.0		285.4		287.3
Film Library Facility		85.7		87.5		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).

Entertainment One Film And Television Business [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

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

At October 1, 2023 and December 25, 2022, the Company had the following assets and liabilities measured using Level 2 fair value indicators in its Condensed Combined Balance Sheets:

(In thousands)	Fair Value
October 1, 2023
Assets:
Derivatives	$	1,890
Total assets	$	1,890
Liabilities:
Derivatives	$	4,676
Total liabilities	$	4,676
December 25, 2022
Assets:
Derivatives	$	6,744
Total assets	$	6,744
Liabilities:
Derivatives	$	2,266
Total liabilities	$	2,266