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Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2025

Schedule of Derivative Instruments Outstanding

As of March 31, 2025, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 24 months from March 31, 2025):


March 31, 2025
Foreign Currency	Foreign Currency Amount			US Dollar Amount		Weighted Average Exchange Rate Per $1 USD
	(Amounts in millions)			(Amounts in millions)
Euro	40.7	EUR	in exchange for	$	43.6	0.92	EUR
Canadian Dollar	15.5	CAD	in exchange for	$	10.6	1.40	CAD
Mexican Peso	69.5	MXN	in exchange for	$	3.4	20.63	MXN
Hungarian Forint	6,000.0	HUF	in exchange for	$	16.0	374.00	HUF
New Zealand Dollar	6.4	NZD	in exchange for	$	3.9	1.66	NZD

As of March 31, 2024, the Company had the following pay-fixed interest rate swaps, which were designated as cash flow hedges outstanding (all related to the Company’s SOFR-based debt, see Note 8 and Note 9) and were terminated in December 2024, as further described below.


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	(1)
June 25, 2018	$200.0	2.723%	March 23, 2025	(1)
July 31, 2018	$300.0	2.885%	March 23, 2025	(1)
December 24, 2018	$50.0	2.744%	March 23, 2025	(1)
December 24, 2018	$100.0	2.808%	March 23, 2025	(1)
December 24, 2018	$50.0	2.728%	March 23, 2025	(1)
Total	$1,700.0

__________________

(1)Represents the re-designated swaps as described in the Fiscal 2023 Transactions section below that were previously not designated cash flow hedges at March 31, 2022.

Designated Cash Flow Hedges at March 31, 2025:


Effective Date	Notional Amount	Fixed Rate Paid	Maturity Date
	(in millions)
August 15, 2024	$65.0	4.045%	September 15, 2026
August 15, 2024	$77.5	3.803%	August 15, 2026
August 15, 2024	$77.5	3.810%	September 15, 2026
December 15, 2024	$125.0	3.970%	December 15, 2026
January 31, 2025	$100.0	4.060%	January 31, 2027
February 14, 2025	$282.8	4.097%	February 14, 2027
Total	$727.8

In April 2025, the Company entered into the following pay-fixed interest rate swaps. The Company expects to designate these interest rate swaps as cash flow hedges (all related to the Company’s SOFR-based debt, see Note 8 and Note 9):

Effective Date

Notional Amount

Fixed Rate Paid

Maturity Date

(in millions)

April 14, 2025

$100.0

3.449%

April 14, 2027

April 14, 2025

$48.8

3.646%

April 14, 2027

Total

$148.8

Schedule of Derivative Instruments, Effect on Statements of Operations And Comprehensive Income

The following table presents the pre-tax effect of the Company’s derivatives on the accompanying consolidated statements of operations and comprehensive income (loss) for the fiscal years ended March 31, 2025, 2024 and 2023:


	Year Ended
	March 31,
			2025		2024		2023
		(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts
Gain (loss) recognized in accumulated other comprehensive income (loss)			$	3.4	$	(5.8)	$	1.7
Loss reclassified from accumulated other comprehensive income (loss) into direct operating expense			(1.2)		(0.3)		(0.3)
Interest rate swaps
Gain (loss) recognized in accumulated other comprehensive income (loss)			$	(0.6)	$	36.3	$	81.1
Gain reclassified from accumulated other comprehensive income (loss) into interest expense			28.6		41.8		1.4

Derivatives not designated as cash flow hedges:
Interest rate swaps
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense			$	4.3	$	(7.2)	$	(11.8)

Total direct operating expense on consolidated statements of operations			$	2,210.0	$	1,886.7	$	2,207.9
Total interest expense on consolidated statements of operations			$	242.5	$	222.5	$	162.6

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

As of March 31, 2025 and 2024, the Company had the following amounts recorded in the accompanying consolidated balance sheets related to the Company’s use of derivatives:


	March 31, 2025
	Other Current Assets		Other Liabilities (non-current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	1.8	$	—
Interest rate swaps	—		3.1
Fair value of derivatives	$	1.8	$	3.1


	March 31, 2024
	Other Current Assets		Other Accrued Liabilities
	(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

Lions Gate Entertainment Corp.

Derivative [Line Items]

Schedule of Derivative Instruments Outstanding

As of March 31, 2025, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 24 months from March 31, 2025):

March 31, 2025

Foreign Currency

Foreign Currency Amount

US Dollar Amount

Weighted Average Exchange Rate Per $1 USD

(Amounts in millions)

Euro

40.7

EUR

in exchange for

$43.6

0.92

EUR

Canadian Dollar

15.5

CAD

in exchange for

$10.6

1.40

CAD

Mexican Peso

69.5

MXN

in exchange for

$3.4

20.63

MXN

Hungarian Forint

6,000.0

HUF

in exchange for

$16.0

374.00

HUF

New Zealand Dollar

$6.4

NZD

in exchange for

$3.9

1.66

NZD

Designated Cash Flow Hedges. As of March 31, 2024, the Company had the following pay-fixed interest rate swaps, which were designated as cash flow hedges outstanding (all related to the Company's SOFR-based debt, see Note 7 and Note 8), and were terminated in December 2024, as further described below.


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	(1)
June 25, 2018	$200.0	2.723%	March 23, 2025	(1)
July 31, 2018	$300.0	2.885%	March 23, 2025	(1)
December 24, 2018	$50.0	2.744%	March 23, 2025	(1)
December 24, 2018	$100.0	2.808%	March 23, 2025	(1)
December 24, 2018	$50.0	2.728%	March 23, 2025	(1)
Total	$1,700.0

__________________

(1)Represents the re-designated swaps as described in the Fiscal 2023 Transactions section below that were previously not designated cash flow hedges at March 31, 2022.

Designated Cash Flow Hedges at March 31, 2025:


Effective Date	Notional Amount	Fixed Rate Paid	Maturity Date
	(in millions)
August 15, 2024	$65.0	4.045%	September 15, 2026
August 15, 2024	$77.5	3.803%	August 15, 2026
August 15, 2024	$77.5	3.810%	September 15, 2026
December 15, 2024	$125.0	3.970%	December 15, 2026
January 31, 2025	$100.0	4.060%	January 31, 2027
February 14, 2025	$282.8	4.097%	February 14, 2027
Total	$727.8


Effective Date	Notional Amount		Fixed Rate Paid	Maturity Date
	(in millions)
April 14, 2025	$	100.0	3.449%	April 14, 2027
April 14, 2025	$	48.8	3.646%	April 14, 2027
Total	$	148.8

Schedule of Derivative Instruments, Effect on Statements of Operations And Comprehensive Income

Consolidated statement of operations and comprehensive income (loss): The following table presents the pre-tax effect of the Company's derivatives on the accompanying consolidated statements of operations and comprehensive income (loss) for the years ended March 31, 2025, 2024 and 2023:


	Year Ended
	March 31,
	2025		2024		2023
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	3.4	$	(5.8)	$	1.7
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense	(1.2)		(0.3)		(0.3)
Interest rate swaps
Gain (loss) recognized in accumulated other comprehensive income (loss)	$	(0.6)	$	36.3	$	81.1
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense	28.6		41.8		1.4

Derivatives not designated as cash flow hedges:
Interest rate swaps
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense	$	4.3	$	(7.2)	$	(11.8)

Total direct operating expense on consolidated statements of operations	$	2,352.1	$	2,189.2	$	2,312.5
Total interest expense on consolidated statements of operations	$	283.6	$	269.8	$	221.2

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

As of March 31, 2025 and 2024, the Company had the following amounts recorded in the accompanying consolidated balance sheets related to the Company's use of derivatives:


	March 31, 2025
	Other Current Assets		Other Liabilities (non-current)
	(Amounts in millions)
Derivatives designated as cash flow hedges:
Forward exchange contracts	$	1.8	$	—
Interest rate swaps	—		3.1
Fair value of derivatives	$	1.8	$	3.1


	March 31, 2024
	Other Current Assets		Other Accrued Liabilities
	(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

- Definition

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.

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