v3.25.2
Restructuring and Other
 3 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Restructuring and Other
Restructuring and other includes restructuring and severance costs and certain transaction and other costs, when applicable. During the three months ended June 30, 2025 and 2024, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the condensed consolidated statements of operations and are described below:
Three Months Ended
June 30,
20252024
 (Amounts in millions)
Restructuring and other:
Content and other impairments(1)
$— $18.0 
Severance(2)
1.7 3.0 
Transaction and other costs(3)
3.1 6.7 
Total Restructuring and Other4.8 27.7 
Other unusual charges not included in restructuring and other or the Company’s operating segments:
COVID-19 related benefit included in direct operating expense(4)
— (2.0)
Unallocated rent cost included in direct operating expense(5)
5.4 5.2 
Total restructuring and other and other unusual charges not included in restructuring and other$10.2 $30.9 
_______________________
(1)Amounts in the three months ended June 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. The lease impairments reflect a decline in market conditions since the inception of the leases impacting potential sublease opportunities, and represent the difference between the estimated fair value, which was determined based on the expected discounted future cash flows of the lease assets, and the carrying value.
(2)Severance costs were primarily related to restructuring, acquisition integration activities and other cost-saving initiatives.
(3)Transaction and other costs in the three months ended June 30, 2025 and 2024 reflect transaction, integration and legal costs associated with certain strategic transactions, restructuring activities and costs associated with legal and other matters. In the three months ended June 30, 2025 and 2024, amounts exclude transaction costs associated with the Starz Separation as such amounts are classified within discontinued operations. In the three months ended June 30, 2024, amounts include acquisition and integration costs related to the acquisition of eOne and the Studio Separation.
(4)Amounts in the three months ended June 30, 2024 represent a benefit from insurance recoveries related to circumstances associated with the COVID-19 pandemic.
(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 three months ended June 30, 2025 and 2024:
Three Months Ended
June 30,
20252024
 (Amounts in millions)
Severance liability
Beginning balance$23.6 $19.3 
Accruals2.8 3.0 
Severance payments(16.3)(8.2)
Ending balance(1)
$10.1 $14.1 
_______________________
(1)As of June 30, 2025, the remaining severance liability of approximately $10.1 million is expected to be paid in the next 12 months.