SRSEC Reporting Desk

Lionsgate Studios Corp. (LION) – SEC staff letter

2026-07-21 · Re: Form 10-K for Fiscal Year Ended March 31, 2026 · Accession 0000000000-26-007220 · 1 staff comment(s) issued

Company response(s): 2026-07-30

Non-GAAP: Reconciliation & UsefulnessSegment Reporting (ASC 280)

2026-07-21 · Form 10-K for Fiscal Year Ended March 31, 2026 · Comment 1 Agreed to revise
Staff comment: We note your disclosure of gross contribution and gross contribution as a percentage of revenue for each of your segments. Please explain how you determined that these were not non-GAAP measures which would require a reconciliation to the most comparable GAAP measure. In this regard, we note that you disclose segment profit as your primary measure of segment performance. As gross contribution would appear to be an additional measure of segment performance, it would appear to be subject to Item 10(e)(1)(i) of Regulation S- K as it is not required to be disclosed by ASC 280. Please also explain how you determined which measure of segment performance was determined in accordance with the… letter →
Company response: We respectfully submit below the response of Lionsgate Studios Corp., a British Columbia, Canada corporation (“Lionsgate,” the “Company,” “we,” “us,” or “our”), to the comment from the United States Securities and Exchange Commission staff (the “Staff”) regarding our Annual Report on Form 10-K for fiscal year ended March 31, 2026 contained in your letter dated July 21, 2026. For your convenience, we have included your original comments below in italics, immediately followed by our response. Form 10-K for Fiscal Year Ended March 31, 2026 Management's Discussion and Analysis of Financial Condition and Results of Operations Segment Results of Operations and Non-GAAP Measures, page 52 Comment 1… response letter →
Non-GAAP: Reconciliation & UsefulnessSegment Reporting (ASC 280)

Full letter on EDGAR → · Filing index · All Lionsgate Studios Corp. (LION) correspondence

Non-GAAP: Reconciliation & Usefulness – what to check: Reconcile every non-GAAP measure (including segment-level measures presented outside the ASC 280 note) to the most directly comparable GAAP measure, and explain why it is useful.

Segment Reporting (ASC 280) – what to check: Check ASU 2023-07 significant segment expense disclosure, CODM identification, and that MD&A segment discussion matches the ASC 280 note.

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