Additional Financial Information

3 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents, restricted cash, and cash in assets of discontinued operations reported in the unaudited condensed consolidated balance sheets to the total amounts reported in the unaudited condensed consolidated statements of cash flows as of June 30, 2025 and March 31, 2025. As of June 30, 2025 and March 31, 2025, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with certain corporate debt and film related obligations.


	June 30, 2025		March 31, 2025
	(Amounts in millions)
Cash and cash equivalents	$	186.1	$	212.5
Restricted cash included in other current assets	71.5		67.9

Cash in assets of discontinued operations - current	—		11.2
Total cash, cash equivalents and restricted cash	$	257.6	$	291.6

Other Assets

The composition of the Company’s other assets is as follows as of June 30, 2025 and March 31, 2025:


	June 30, 2025		March 31, 2025
	(Amounts in millions)
Other current assets
Prepaid expenses and other	$	56.3	$	46.0
Restricted cash	71.5		67.9
Contract assets	48.8		61.4
Tax credits receivable	210.8		186.8
	$	387.4	$	362.1
Other non-current assets
Prepaid expenses and other	$	18.9	$	20.2
Accounts receivable	58.7		65.7
Contract assets	8.0		11.3
Tax credits receivable	406.4		435.8
Operating lease right-of-use assets	294.9		294.1
	$	786.9	$	827.1

Accounts Receivable Monetization

Under the Company’s accounts receivable monetization programs, the Company has entered into individual agreements to monetize certain of its trade accounts receivable directly with third-party purchasers, 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 losses, net” 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 months ended June 30, 2025 and 2024.

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 presents a summary of the receivables transferred under individual agreements or purchases during the three months ended June 30, 2025 and 2024:


	Three Months Ended
	June 30,
		2025		2024
		(Amounts in millions)
Carrying value of receivables transferred and derecognized		$	88.4	$	107.4
Net cash proceeds received		86.5		104.1
Loss recorded related to transfers of receivables		1.9		3.3

As of June 30, 2025, the Company derecognized $340.3 million (March 31, 2025 - $429.9 million) of receivables from its unaudited condensed consolidated balance sheets related to individual monetization agreements, which the Company continues to service.

Content Related Payables

Content related payables primarily relate to minimum guarantee obligations, which represent amounts payable for film or television rights that the Company has acquired.

Accumulated Other Comprehensive Income

The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the three months ended June 30, 2025 and 2024, 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, 2025	$	(22.8)	$	95.4	$	72.6
Other comprehensive income	20.5		(3.4)		17.1
Reclassifications to net loss(1)	—		(7.4)		(7.4)
Spin off of the Starz Business	(19.2)		—		(19.2)
Elimination of noncontrolling interest(2)	(6.8)		14.6		7.8
June 30, 2025	$	(28.3)	$	99.2	$	70.9

March 31, 2024	$	(22.7)	$	138.7	$	116.0
Other comprehensive income (loss)	(2.9)		3.7		0.8
Reclassifications to net loss(1)	—		(8.3)		(8.3)
Reclassifications to noncontrolling interest(2)	3.6		(19.0)		(15.4)
June 30, 2024	$	(22.0)	$	115.1	$	93.1

___________________

(1)Represents a gain of $7.4 million included in interest expense on the unaudited condensed consolidated statement of operations in the three months ended June 30, 2025 (three months ended June 30, 2024 - loss of $1.0 million included in direct operating expense and a gain of $9.3 million included in interest expense) (see Note 18).

(2)Represents the Legacy Lionsgate Studios noncontrolling interest that was eliminated in connection with the LG Studios Flip (see Note 3).

Supplemental Cash Flow Information

Significant non-cash transactions during the three months ended June 30, 2025 and 2024 include certain interest rate swap agreements, which are discussed in Note 18.

There were no significant non-cash financing or investing activities for the three months ended June 30, 2025 and 2024.