Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Jun. 30, 2013 | Feb. 24, 2014 | Feb. 24, 2014 | |
Common Class A [Member] | Common Class B [Member] | |||
Entity Registrant Name | 'WORLD WRESTLING ENTERTAINMENTINC | ' | ' | ' |
Entity Central Index Key | '0001091907 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' | ' |
Trading Symbol | 'wwe | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 31,349,734 | 43,797,830 |
Document Type | '10-K | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $310,139,554 | ' | ' |
Consolidated_Income_Statements
Consolidated Income Statements (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net revenues | $118,395 | $113,292 | $152,282 | $124,001 | $115,100 | $104,197 | $141,648 | $123,068 | $507,970 | $484,013 | $483,921 |
Cost of revenues (including amortization and impairments of feature film and television production assets of $26,070, $8,799 and $39,742, respectively) | 80,360 | 70,947 | 96,855 | 74,866 | 69,166 | 61,406 | 85,484 | 68,397 | 323,028 | 284,453 | 315,183 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 154,582 | 136,341 | 116,739 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 24,469 | 20,024 | 14,980 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 5,891 | 43,195 | 37,019 |
Investment income, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,426 | 2,190 | 2,054 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -1,746 | -1,704 | -623 |
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -968 | -997 | -1,569 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 4,603 | 42,684 | 36,881 |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,839 | 11,252 | 12,049 |
Net income | ($7,891) | $2,439 | $5,182 | $3,034 | $631 | $3,527 | $11,943 | $15,331 | $2,764 | $31,432 | $24,832 |
Earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic | ($0.11) | $0.03 | $0.07 | $0.04 | $0.01 | $0.05 | $0.16 | $0.21 | $0.04 | $0.42 | $0.33 |
Earnings Per Share, Diluted | ($0.10) | $0.03 | $0.07 | $0.04 | $0.01 | $0.05 | $0.16 | $0.20 | $0.04 | $0.42 | $0.33 |
Weighted average common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 74,939 | 74,595 | 74,212 |
Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 75,379 | 74,981 | 74,858 |
Consolidated_Income_Statements1
Consolidated Income Statements [Parenthetical] (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement Parenthetical Abstract | ' | ' | ' |
Amortization and impairments of feature film production assets | $26,070 | $8,799 | $39,742 |
Earnings Per Share, Diluted | $0.04 | $0.42 | $0.33 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | ($7,891) | $2,439 | $5,182 | $3,034 | $631 | $3,527 | $11,943 | $15,331 | $2,764 | $31,432 | $24,832 |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -141 | 156 | -42 |
Unrealized holding gain/(loss) - available-for-sale securities (net of tax (benefit)/expense of $(232), $450 and $152, respectively) | ' | ' | ' | ' | ' | ' | ' | ' | -377 | 734 | 248 |
Reclassification adjustment for gains realized in net income - available-for-sale securities (net of tax expense of $0, $75, and $54, respectively) | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -121 | -88 |
Total other comprehensive (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -519 | 769 | 118 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | $2,245 | $32,201 | $24,950 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parethetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Other Comprehensive Income (Parenthetical) [Abstract] | ' | ' | ' |
Unrealized holding gain, net of tax | ($232) | $450 | $152 |
Reclassification adjustment for gains realized in net income | $0 | $75 | $54 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $32,911 | $66,048 |
Short-term investments, net | 76,476 | 86,326 |
Accounts receivable (net of allowance for doubtful accounts and returns of $9,344 and $14,691, respectively) | 59,552 | 50,716 |
Inventory | 2,874 | 1,770 |
Deferred income taxes | 12,237 | 14,403 |
Prepaid expenses and other current assets | 16,147 | 15,269 |
Total current assets | 200,197 | 234,532 |
PROPERTY AND EQUIPMENT, NET | 133,480 | 102,162 |
FEATURE FILM PRODUCTION ASSETS, NET | 16,018 | 23,691 |
TELEVISION PRODUCTION ASSETS, NET | 10,772 | 6,331 |
INVESTMENT SECURITIES | 8,299 | 5,220 |
OTHER ASSETS | 9,696 | 9,447 |
TOTAL ASSETS | 378,462 | 381,383 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' |
Current portion of long-term debt | 4,251 | 0 |
Accounts payable and accrued expenses | 47,882 | 48,954 |
Deferred income | 30,112 | 28,611 |
Total current liabilities | 82,245 | 77,565 |
LONG-TERM DEBT | 25,385 | 0 |
NON-CURRENT INCOME TAX LIABILITIES | 4,884 | 9,092 |
STOCKHOLDERS' EQUITY: | ' | ' |
Additional paid-in capital | 346,974 | 341,762 |
Accumulated other comprehensive income | 3,512 | 4,031 |
Accumulated deficit | -85,289 | -51,815 |
Total stockholdersb equity | 265,948 | 294,726 |
TOTAL LIABILITIES AND STOCKHOLDERSb EQUITY | 378,462 | 381,383 |
Common Class A [Member] | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Common stock | 313 | 293 |
Common Class B [Member] | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Common stock | $438 | $455 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets [Parenthetical] (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts receivable (in dollars) | $9,344 | $14,691 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Class A [Member] | ' | ' |
Common stock, shares authorized | 180,000,000 | 180,000,000 |
Common stock, shares issued | 31,302,790 | 29,253,665 |
Common stock, shares outstanding | 31,302,790 | 29,253,665 |
Common Class B [Member] | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 43,797,830 | 45,500,830 |
Common stock, shares outstanding | 43,797,830 | 45,500,830 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholer's Equity and Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Stockholders' Equity Attributable to Parent | $265,948 | $294,726 | $265,948 | $294,726 | $295,143 | $316,748 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | 2,245 | 32,201 | 24,950 | ' |
Net income | -7,891 | 631 | 2,764 | 31,432 | 24,832 | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | ' | -519 | 769 | 118 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | ' | ' | -141 | 156 | -42 | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | ' | ' | -377 | 734 | 248 | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | ' | ' | -1 | -121 | -88 | ' |
Stock Issued During Period, Value, New Issues | ' | ' | -792 | -130 | -884 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 223 | -588 | -730 | ' |
Dividends, Common Stock | ' | ' | -35,979 | -35,815 | -47,809 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | ' | ' | 5,525 | 3,915 | 2,868 | ' |
Common Class A [Member] | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | 31,303 | 29,254 | 31,303 | 29,254 | 28,255 | 27,516 |
Stockholders' Equity Attributable to Parent | 313 | 293 | 313 | 293 | 283 | 275 |
Stock Issued During Period, Shares, New Issues | ' | ' | 346 | 336 | 420 | ' |
Stock Issued During Period, Value, New Issues | ' | ' | 3 | 3 | 5 | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | 1,703 | 663 | 319 | ' |
Stock Issued During Period, Value, Conversion of Convertible Securities | ' | ' | 17 | 7 | 3 | ' |
Common Class B [Member] | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | 43,798 | 45,501 | 43,798 | 45,501 | 46,164 | 46,483 |
Stockholders' Equity Attributable to Parent | 438 | 455 | 438 | 455 | 462 | 465 |
Stock Issued During Period, Shares, New Issues | ' | ' | 0 | 0 | 0 | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | -1,703 | -663 | -319 | ' |
Stock Issued During Period, Value, Conversion of Convertible Securities | ' | ' | -17 | -7 | -3 | ' |
Additional Paid-in Capital [Member] | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Parent | 346,974 | 341,762 | 346,974 | 341,762 | 338,414 | 336,592 |
Stock Issued During Period, Value, New Issues | ' | ' | -795 | -133 | -889 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 223 | -588 | -730 | ' |
Dividends, Common Stock | ' | ' | 259 | 154 | 573 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | ' | ' | 5,525 | 3,915 | 2,868 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Parent | 3,512 | 4,031 | 3,512 | 4,031 | 3,262 | 3,144 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | ' | -519 | 769 | 118 | ' |
Retained Earnings [Member] | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Parent | -85,289 | -51,815 | -85,289 | -51,815 | -47,278 | -23,728 |
Net income | ' | ' | ' | 31,432 | 24,832 | ' |
Dividends, Common Stock | ' | ' | ($36,238) | ($35,969) | ($48,382) | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $2,764 | $31,432 | $24,832 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Amortization and impairments of feature film production assets | 19,058 | 8,799 | 39,742 |
Amortization of television production assets | 7,012 | ' | ' |
Depreciation and amortization | 24,469 | 20,024 | 14,980 |
Amortization of bond premium | 1,992 | 2,270 | 2,580 |
Amortization of debt issuance costs | 503 | 614 | 205 |
Stock-based compensation | 5,525 | 3,845 | 2,868 |
(Recovery from) provision for doubtful accounts | -6 | 2,483 | -692 |
Services provided in exchange for equity instruments | -879 | -439 | 0 |
(Gain) loss on disposal of property and equipment | -39 | 63 | 1,376 |
Provision for (benefit from) deferred income taxes | 1,422 | 6,183 | -6,424 |
Other non-cash adjustments | -131 | -65 | -126 |
Cash (used in)/provided by changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | -8,972 | 4,560 | -1,915 |
Inventory | -1,103 | -112 | 429 |
Prepaid expenses and other assets | -2,113 | -2,796 | 4,632 |
Feature film production assets | -9,128 | -8,905 | -7,097 |
Television production assets | -11,453 | -6,080 | -251 |
Accounts payable and accrued expenses | -6,668 | 2,507 | -3,692 |
Deferred income | 1,500 | -1,332 | -8,261 |
Net cash provided by operating activities | 23,753 | 63,051 | 63,186 |
INVESTING ACTIVITIES: | ' | ' | ' |
Purchase of corporate aircraft and related improvements | -30,898 | 0 | 0 |
Purchases of other property and equipment and other assets | -25,032 | -33,890 | -27,956 |
Purchases of short-term investments | -37,071 | -19,177 | -47,904 |
Proceeds from sales and maturities of investments | 44,318 | 45,191 | 45,148 |
Purchase of cost method investments | -2,200 | -5,000 | 0 |
Proceeds from sales of property and equipment | 39 | 0 | 0 |
Net cash used in investing activities | -50,844 | -12,876 | -30,712 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from the issuance of note payable | 31,032 | 0 | 0 |
Repayment of long-term debt | -1,396 | -1,621 | -1,169 |
Dividends paid | -35,979 | -35,815 | -47,809 |
Debt issuance costs | -675 | 0 | -1,843 |
Issuance of stock, net | 704 | 811 | 893 |
Excess tax benefits from stock-based payment arrangements | 268 | 7 | 122 |
Net cash used in financing activities | -6,046 | -36,618 | -49,806 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -33,137 | 13,557 | -17,332 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 66,048 | 52,491 | 69,823 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 32,911 | 66,048 | 52,491 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' | ' |
Cash (received) paid for income taxes, net of refunds | -3,052 | 7,158 | 12,058 |
Cash paid for interest | 984 | 815 | 410 |
Non-cash purchase of property and equipment | $1,700 | $1,415 | $5,302 |
Basis_of_Presentation_and_Busi
Basis of Presentation and Business Description | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis of Presentation and Business Description | ' | |
Basis of Presentation and Business Description | ||
The accompanying consolidated financial statements include the accounts of WWE. “WWE” refers to World Wrestling Entertainment, Inc. and its subsidiaries, unless the context otherwise requires. References to “we,” “us,” “our” and the “Company” refer to WWE and its subsidiaries. We are an integrated media and entertainment company, principally engaged in the development, production and marketing of television, pay-per-view event programming, live events, feature films, licensing of various WWE themed products and the sale of consumer products featuring our brands. Our operations are organized around four principal activities: | ||
Live and Televised Entertainment | ||
• | Revenues consist principally of ticket sales to live events, sales of merchandise at these live events, television rights fees, integrated sponsorships fees, and fees for viewing our pay-per-view and video-on-demand programming. | |
Consumer Products | ||
• | Revenues consist principally of sales of WWE produced content via home entertainment (DVD/Blu-ray), magazine publishing and royalties or license fees related to various WWE themed products such as video games, toys and apparel. | |
Digital Media | ||
• | Revenues consist principally of advertising sales on our websites, rights fees received for digital content, sale of merchandise on our website through our WWEShop internet storefront and sales of various broadband and mobile content. | |
WWE Studios | ||
• | Revenues consist of amounts earned from the distribution of filmed entertainment. | |
Within the Consolidated Statements of Cash Flows from operating activities, certain prior year amounts were reclassified to conform to the current period presentation. |
Summary_of_Signficant_Accounti
Summary of Signficant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Summary of Significant Accounting Policies [Abstract] | ' | |
Significant Accounting Policies [Text Block] | ' | |
Summary of Significant Accounting Policies | ||
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||
Basis of Consolidation — The consolidated financial statements include the accounts of WWE and all of its domestic and foreign subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | ||
Cash and Cash Equivalents — Cash and cash equivalents include cash on deposit in overnight deposit accounts and investments in money market accounts with maturities of three months or less at the time of purchase. | ||
Investment Securities, Net — We classify all of our investments as available-for-sale securities. Such investments consist primarily of municipal bonds, including pre-refunded municipal bonds, and corporate bonds. All of these investments are stated at fair value, with unrealized gains and losses on such securities reflected, net of tax, as other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on investments are included in earnings and are derived using the specific identification method for determining the cost of securities sold. | ||
Accounts Receivable, Net — Accounts receivable relate principally to amounts due to us from pay-per-view providers and television networks for pay-per-view presentations and television programming, respectively, and balances due from the sale of home videos and magazines. We estimate the collectability of our receivables and establish allowances for the amount of accounts receivable that we estimate to be uncollectible. We base these allowances on our historical collection experience, the length of time our accounts receivable are outstanding and the financial condition of individual customers. An individual balance is charged | ||
2. Summary of Significant Accounting Policies (continued) | ||
to the allowance when all collection efforts have been exhausted and it is deemed likely to be uncollectible, taking into consideration the financial condition of the customer and other factors. | ||
Inventory — Inventory consists of merchandise sold on our website, merchandise sold at live events and DVDs/Blu-rays, which are sold via a distributor to retailers. Substantially all of our inventory is comprised of finished goods. Inventory is stated at the lower of cost (first-in, first-out basis) or market. The valuation of our inventories requires management to make market estimates assessing the quantities and the prices at which we believe the inventory can be sold. | ||
Property and Equipment, Net — Property and equipment are stated at historical cost net of benefits associated with tax incentives less accumulated depreciation and amortization. Depreciation and amortization is computed on a straight-line basis over the estimated useful lives of the assets or, when applicable, the life of the lease, whichever is shorter. Vehicles and equipment are depreciated based on estimated useful lives varying from three to five years. Buildings and related improvements are depreciated based on estimated useful lives varying from five to thirty-nine years. Our corporate aircraft is depreciated over ten years on a straight-line basis less an estimated residual value. In 2013, we purchased a new corporate aircraft which we refurbished and placed into service in February 2014. It is being depreciated in the same manner as our previous corporate aircraft. | ||
Feature Film Production Assets, Net — Feature film production assets are recorded at the cost of production, including production overhead and net of production incentives. The costs for an individual film are amortized in the proportion that revenues bear to management’s estimates of the ultimate revenue expected to be recognized from exploitation, exhibition or sale. Unamortized feature film production assets are evaluated for impairment each reporting period. We review and revise estimates of ultimate revenue and participation costs at each reporting period to reflect the most current information available. If estimates for a film’s ultimate revenue are revised and indicate a significant decline in a film’s profitability or if events or circumstances change that indicate we should assess whether the fair value of a film is less than its unamortized film costs, we calculate the film's estimated fair value using a discounted cash flows model. If fair value is less than the unamortized cost, the film is written down. Impairment charges are recorded as an increase in amortization expense included in cost of revenues in the consolidated income statements. | ||
Our estimate of ultimate revenues for feature films includes revenues from all sources for ten years from the date of a film’s initial release. We estimate the ultimate revenues based on industry and Company specific trends, the historical performance of similar films, the star power of the lead actors, and the genre of the film. Prior to the release of a feature film and throughout its life, we revise our estimates of revenues based on expected future results, actual results and other known factors affecting the various distribution markets. The most sensitive factor affecting our estimates of ultimate revenue for our feature films is home video sales. Home video sales fluctuate based on a variety of factors, including audience demand for our titles, the volume and quality of competing home video products, marketing and promotional strategies, as well as general economic conditions. | ||
Television Production Assets, Net — Television production assets consist of several episodic television series we have produced for distribution, either on our recently announced WWE Network or through other distribution platforms. Amounts capitalized include development costs, production costs, post-production costs and related production or post-production overhead. Costs to produce live event programming are expensed when the event is first broadcast. Unamortized television production assets are evaluated for impairment each reporting period. If conditions indicate a potential impairment, and the estimated future cash flows are not sufficient to recover the unamortized asset, the asset is written down to fair value. In addition, if we determine that a program will not likely air, we will write-off the remaining unamortized asset. | ||
Valuation of Long-Lived Assets — We periodically evaluate the carrying amount of long-lived assets when events and circumstances warrant such a review. | ||
Income Taxes — Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been reflected in the consolidated financial statements. Amounts are determined based on the differences between the book and tax bases of particular assets and liabilities and operating loss carry forwards, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to offset deferred tax assets if, based upon the available | ||
2. Summary of Significant Accounting Policies (continued) | ||
evidence, including consideration of tax planning strategies, it is more-likely-than-not that some or all of the deferred tax assets will not be realized. | ||
We use a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more likely than not sustainable, based solely on their technical merits, upon examination, and including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position, as the largest amount that we believe is more likely than not realizable. Differences between the amount of tax benefits taken or expected to be taken in our income tax returns and the amount of tax benefits recognized in our financial statements represent our unrecognized income tax benefits, which we record as a liability. Our policy is to include interest and penalties related to unrecognized income tax benefits as a component of income tax expense. | ||
Revenue Recognition — Revenues are generally recognized when products are shipped or as services are performed. However, due to the nature of several of our business lines, there are additional steps in the revenue recognition process, as described below. | ||
• | Pay-per-view programming: | |
Revenues from our pay-per-view programming are recorded when the event is aired and are based upon our initial estimate of the number of buys achieved. This initial estimate is based on preliminary buy information received from our pay-per-view distributors. Final reconciliation of the pay-per-view buys generally occurs within one year and any subsequent adjustments to the buys are recognized in the period new information is received. | ||
• | Sponsorships: | |
Through our sponsorship packages, we offer advertisers a full range of our promotional vehicles, including online and print advertising, on-air announcements and special appearances by our Superstars. We allocate revenue to all deliverables contained within a sponsorship arrangement based upon their relative selling price. In most instances, we determine relative selling price used for allocating revenue to a specific deliverable using vendor specific objective evidence ("VSOE"). VSOE is the selling price that a vendor charges when it sells similar products or services on a stand-alone basis. After allocating revenue to each deliverable, we recognize revenue from our sponsorship arrangements when each element is delivered. | ||
• | Licensing: | |
Revenues from our licensed products are recognized upon receipt of reports from the individual licensees that detail the royalties generated by related product sales. If we receive licensing advances, such payments are recorded as deferred revenue and are recognized as income when earned. | ||
• | Home entertainment: | |
Revenues from the sales of home video titles are recorded net of an allowance for estimated returns, at the later of delivery by our distributor to retailers, or the date that these products are made widely available for sale by retailers. The allowance for estimated returns is based on historical information, current industry trends and demand for our titles. | ||
• | Magazine publishing: | |
Publishing newsstand revenues are recorded when the magazine is shipped, net of an allowance for estimated returns. We estimate the allowance for newsstand returns based upon our review of historical return rates and the expected performance of our current titles in relation to prior issue return rates. | ||
• | TV rights: | |
Rights fees received from distributors of our television programming, both domestically and internationally, are recorded when the program has been delivered to the distributor and is available for exhibition. Our typical distribution agreement is between one and five years in length and frequently provides for contractual increases over its term. Expenses incurred in the production of our weekly television programming are expensed when the programming is first available for exhibition. | ||
2. Summary of Significant Accounting Policies (continued) | ||
• | Films: | |
Revenue recognition for our feature films varies depending on the method of distribution and the extent of control the Company exercises over the distribution and related expenses. We exercise significant control over our self-distributed films and as a result, we record distribution revenue and related expenses on a gross basis in our financial statements. Third-party distribution partners control the distribution and marketing of our licensed films, and as a result, we recognize revenue on a net basis after the third-party distributor recoups distribution fees and expenses and results have been reported to us. This typically occurs in periods subsequent to the initial release of the film. Revenues generated from our films through the various distribution channels, including home video, video-on-demand and television are recognized consistent with the policies described above. | ||
Film and Television Production Incentives — The Company has access to various governmental programs that are designed to promote film and television production within the United States and certain international jurisdictions. Tax credits earned with respect to expenditures on qualifying film, television and other production activities, including qualifying capital projects, are included as an offset to the related asset or as an offset to production expenses when we have reasonable assurance regarding the realizable amount of the tax credits. | ||
Advertising Expense — Advertising costs are expensed as incurred, except for costs related to the development of a major commercial or media campaign which are expensed in the period in which the commercial or campaign is first presented. For the years ended December 31, 2013, 2012 and 2011, we recorded advertising expenses of $3,819, $3,934 and $4,014, respectively. | ||
Foreign Currency Translation — For the translation of the financial statements of our foreign subsidiaries whose functional currencies are not U.S. Dollars, assets and liabilities are translated at the year-end exchange rate, and income statement accounts are translated at monthly average exchange rates for the year. The resulting translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity and also in comprehensive income. Foreign currency transactions are recorded at the exchange rate prevailing at the transaction date, with any gains/losses recorded in other income/expense. | ||
Stock-Based Compensation — Equity awards are granted to directors, officers and employees of the Company. | ||
Stock-based compensation costs associated with our restricted stock units ("RSUs") are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. RSUs typically have a three year service requirement and vest in equal annual installments. | ||
Stock-based compensation costs associated with our performance stock units ("PSUs") are initially determined using the fair market value of the Company's common stock on the date the awards are approved by our Compensation Committee (service inception date). The vesting of these PSUs are subject to certain performance conditions and a service requirement of three and one half years. Until such time as the performance conditions are met, stock compensation costs associated with these PSUs are re-measured each reporting period based upon the fair market value of the Company's common stock and the probability of attainment on the reporting date. The ultimate number of PSUs that are issued to an employee is the result of the actual performance of the Company at the end of the performance period compared to the performance conditions. Stock compensation costs for our PSUs are recognized, net of estimated forfeitures, over the requisite service period using the graded vesting method. | ||
We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ or as forfeitures occur. | ||
Earnings Per Share (EPS) — Basic EPS is calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average common shares outstanding during the period, plus dilutive potential common shares which is calculated using the treasury-stock method. Under the treasury-stock method, potential common shares are excluded from the computation of EPS in periods in which they have an anti-dilutive effect. | ||
2. Summary of Significant Accounting Policies (continued) | ||
Net income per share of Class A and Class B common stock is computed in accordance with a two-class method of earnings allocation. As such, any undistributed earnings for each period are allocated to each class of common stock based on the proportionate share of cash dividends that each class is entitled to receive. The Company did not compute earnings per share using the two class method for the years ended December 31, 2013, 2012 and 2011, as there were no undistributed earnings during the periods. Also, during 2013 and 2012, the dividends paid per share of Class A and Class B common stock were the same. | ||
Recent Accounting Pronouncements | ||
In July 2013, the Financial Accounting Standards Board ("FASB") issued an accounting standards update requiring that unrecognized tax benefits be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, to the extent such deferred tax assets are available under the tax law to offset additional taxes resulting from disallowance of a tax position. This standard update is effective for reporting periods beginning after December 15, 2013, with early adoption permitted. We adopted this accounting standards update on July 1, 2013, which did not have a material effect on our consolidated financial statements. | ||
In February 2013, FASB issued an accounting standards update on the reporting of amounts reclassified out of accumulated other comprehensive income, to improve the transparency of reporting. These reclassifications present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income–but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. We adopted this accounting standards update on January 1, 2013, which did not have a material effect on our consolidated financial statements. | ||
In October 2012, the FASB issued an accounting standards update to amend the requirements related to an impairment assessment of unamortized film costs and clarify when unamortized film costs should be assessed for impairment. The update revises the impairment assessment to remove the rebuttable presumption that the conditions leading to the write-off of unamortized film costs after the balance sheet date existed as of the balance sheet date. The update also eliminates the requirement that an entity incorporate into fair value measurements used in impairment tests the effects of any changes in estimates resulting from the consideration of subsequent evidence, if the information would not have been considered by market participants at the measurement date. This standard update is effective for impairment assessments performed on or after December 15, 2012. We adopted this accounting standards update for our film impairment assessment as of December 31, 2012, which did not have a material effect on our consolidated financial statements. | ||
In December 2011, the FASB issued an accounting standards update that expands the disclosure requirements for the offsetting of assets and liabilities related to certain financial instruments and derivative instruments. Additional guidance clarifying the scope of the update was issued by the FASB in January 2013. The update requires disclosures to present both gross information and net information for financial instruments and derivative instruments that are eligible for net presentation due to a right of offset, an enforceable master netting arrangement or similar agreement. This standard update is effective for our fiscal year beginning on January 1, 2013. We adopted this accounting standards update as of January 1, 2013, which did not have a material effect on our consolidated financial statements. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Earnings Per Share | ' | |||||||||
Earnings Per Share | ||||||||||
For purposes of calculating basic and diluted earnings per share, we used the following weighted average common shares outstanding (in thousands): | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic | 74,939 | 74,595 | 74,212 | |||||||
Diluted | 75,379 | 74,981 | 74,858 | |||||||
Dilutive effect of restricted and performance stock units | 438 | 379 | 637 | |||||||
Dilutive effect of employee share purchase plan | 2 | 7 | 9 | |||||||
Anti-dilutive outstanding options (excluded from per-share calculations) | — | 2 | 72 | |||||||
Anti-dilutive outstanding restricted and performance stock units (excluded from per-share calculations) | 395 | — | — | |||||||
Investment_Securities_and_Shor
Investment Securities and Short-Term Investments | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||||||||||||||||||
Investment Securities and Short-Term Investments | ||||||||||||||||||||||||||||||||
Investment Securities: | ||||||||||||||||||||||||||||||||
On June 25, 2012, the Company invested $5,000 in Tout Industries, Inc. ("Tout") Series B Preferred Stock. Additionally, the Investment in Tout includes shares received in conjunction with a strategic partnership of $879 and $220 related to the years ended December 31, 2013 and 2012, respectively. On May 30, 2013, the Company made an investment of $2,200 in a live event touring business. Both investments are accounted for under the cost method. We evaluate our cost method investments for impairment if factors indicate that a significant decrease in value has occurred. No such indicators were noted during the years ended December 31, 2013 and 2012. Investment Securities in our Consolidated Balance Sheets as of December 31, 2013 and 2012 are comprised of $8,299 and $5,220, respectively, related to these investments. | ||||||||||||||||||||||||||||||||
Short-Term Investments: | ||||||||||||||||||||||||||||||||
Short-term investments measured at fair value consisted of the following: | ||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||
Amortized | Gain | (Loss) | Fair | Amortized | Gain | (Loss) | Fair | |||||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||||||||
Municipal bonds | $ | 44,636 | $ | 176 | $ | (91 | ) | $ | 44,721 | $ | 68,517 | $ | 566 | $ | (84 | ) | $ | 68,999 | ||||||||||||||
Corporate bonds | 31,825 | 104 | (174 | ) | 31,755 | 17,182 | 145 | — | 17,327 | |||||||||||||||||||||||
Total | $ | 76,461 | $ | 280 | $ | (265 | ) | $ | 76,476 | $ | 85,699 | $ | 711 | $ | (84 | ) | $ | 86,326 | ||||||||||||||
We classify the investments listed in the above table as available-for-sale securities. Such investments consist primarily of corporate and municipal bonds, including pre-refunded municipal bonds. These investments are stated at fair value as required by the applicable accounting guidance. Unrealized gains and losses on such securities are reflected, net of tax, as other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income. | ||||||||||||||||||||||||||||||||
4. Investment Securities and Short-Term Investments (continued) | ||||||||||||||||||||||||||||||||
Our municipal and corporate bonds are included in Short-term investments, net on our Consolidated Balance Sheets. Realized gains and losses on investments are included in earnings and are derived using the specific identification method for determining the cost of securities sold. As of December 31, 2013, contractual maturities of these bonds are as follows: | ||||||||||||||||||||||||||||||||
Maturities | ||||||||||||||||||||||||||||||||
Municipal bonds | 1 month - 9 years | |||||||||||||||||||||||||||||||
Corporate bonds | 6 months - 4 years | |||||||||||||||||||||||||||||||
The following table summarizes the short-term investment activity: | ||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Proceeds from sale of short-term investments | $ | 2,793 | $ | 16,486 | $ | 15,656 | ||||||||||||||||||||||||||
Proceeds from maturities and calls of short-term investments | $ | 41,525 | $ | 28,705 | $ | 27,670 | ||||||||||||||||||||||||||
Gross realized gains on sale of short-term investments | $ | 1 | $ | 196 | $ | 142 | ||||||||||||||||||||||||||
In addition, during 2011, we exercised previously granted warrants to purchase common stock in a former licensee and subsequently sold this stock for $1,822. |
Fair_Value_Measurement
Fair Value Measurement | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurement | |||||||||||||||||||||||||||||||||
Fair value is determined based on the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value is a market-based measurement based on assumptions that "market participants" would use to price the asset or liability. Accordingly, the framework considers markets or observable inputs as the preferred source of value followed by assumptions based on hypothetical transactions, in the absence of market inputs. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of assets and liabilities should include consideration of non-performance risk including the Company’s own credit risk. | |||||||||||||||||||||||||||||||||
Additionally, the accounting guidance establishes a three-level hierarchy that ranks the quality and reliability of information used in developing fair value estimates. The hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. In cases where two or more levels of inputs are used to determine fair value, a financial instrument's level is determined based on the lowest level input that is considered significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are summarized as follows: | |||||||||||||||||||||||||||||||||
Level 1- | quoted prices in active markets for identical assets or liabilities; | ||||||||||||||||||||||||||||||||
Level 2- | quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or | ||||||||||||||||||||||||||||||||
Level 3- | unobservable inputs, such as discounted cash flow models or valuations | ||||||||||||||||||||||||||||||||
5. Fair Value Measurement (continued) | |||||||||||||||||||||||||||||||||
The following assets are required to be measured at fair value on a recurring basis and the classification within the hierarchy was as follows: | |||||||||||||||||||||||||||||||||
Fair Value at December 31, 2013 | Fair Value at December 31, 2012 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Municipal bonds | $ | 44,721 | $ | — | $ | 44,721 | $ | — | $ | 68,999 | $ | — | $ | 68,999 | $ | — | |||||||||||||||||
Corporate bonds | 31,755 | — | 31,755 | — | 17,327 | — | 17,327 | — | |||||||||||||||||||||||||
Total | $ | 76,476 | $ | — | $ | 76,476 | $ | — | $ | 86,326 | $ | — | $ | 86,326 | $ | — | |||||||||||||||||
Certain financial instruments are carried at cost on the Consolidated Balance Sheets, which approximates fair value due to their short-term, highly liquid nature. The carrying amounts of cash and cash equivalents, money market accounts, accounts receivable and accounts payable approximate fair value because of the short-term nature of such instruments. | |||||||||||||||||||||||||||||||||
We have classified our investments in municipal and corporate bonds within Level 2 as their valuation requires quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and/or model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data. The municipal and corporate bonds are valued based on model-driven valuations. A third party service provider assists the Company with compiling market prices from a variety of industry standard data sources, security master files from large financial institutions and other third-party sources that are used to value our municipal and corporate bond investments. | |||||||||||||||||||||||||||||||||
The Company's long lived property and equipment, feature film and television production assets are required to be measured at fair value on a non-recurring basis if it is determined that indicators of impairment exist. These assets are recorded at fair value only when an impairment is recognized. During the year ended December 31, 2013, the Company recorded impairment charges of $11,661 on feature film production assets based on fair value measurements of $2,363. | |||||||||||||||||||||||||||||||||
During the year ended December 31, 2012, the Company recorded impairment charges of $1,229 on feature film production assets based on fair value measurements of $1,657. During the year ended December 31, 2011, the Company recorded impairment charges of $23,414 on feature film production assets based on fair value measurements of $21,186. See Note 7, Feature Film Production Assets, for further discussion. The Company classifies these fair values as Level 3 within the fair value hierarchy due to significant unobservable inputs. The Company utilizes a discounted cash flows model to determine the fair value of these impaired films where indicators of impairment exist. The significant unobservable inputs to this model are the Company’s expected cash flows for the film, including projected home video sales, pay and free TV sales and international sales, and a discount rate of 13% that we estimate market participants would seek for bearing the risk associated with such assets. The Company utilizes an independent third party valuation specialist who assists us in gathering the necessary inputs used in our model. | |||||||||||||||||||||||||||||||||
The fair value of the Company's long-term debt, consisting of a promissory note payable to RBS Asset Finance, Inc., is estimated based upon quoted interest rates for similar types and amounts of borrowing agreements. At December 31, 2013, the face amount of the note approximates fair value. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Property and Equipment | |||||||||
Property and equipment consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Land, buildings and improvements | $ | 106,749 | $ | 97,551 | |||||
Equipment | 107,305 | 93,316 | |||||||
Corporate aircraft | 51,757 | 20,858 | |||||||
Vehicles | 244 | 1,474 | |||||||
266,055 | 213,199 | ||||||||
Less accumulated depreciation and amortization | (132,575 | ) | (111,037 | ) | |||||
Total | $ | 133,480 | $ | 102,162 | |||||
Included in Corporate aircraft for the year ended December 31, 2013 is $30,898 of costs related to the acquisition and refurbishment of a 2007 Bombardier Global 5000 aircraft. The aircraft was refurbished and placed into service in February 2014. Depreciation expense for property and equipment totaled $22,906, $19,151 and $14,520, for the years ended December 31, 2013, 2012 and 2011, respectively. |
Feature_Film_Production_Assets
Feature Film Production Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Feature Film Production Assets [Abstract] | ' | ||||||||
Feature Film Production Assets | ' | ||||||||
Feature Film Production Assets, Net | |||||||||
Feature film production assets consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Feature film productions: | |||||||||
In release | $ | 9,413 | $ | 13,238 | |||||
Completed but not released | 3,130 | 7,849 | |||||||
In production | 2,686 | 1,977 | |||||||
In development | 789 | 627 | |||||||
Total | $ | 16,018 | $ | 23,691 | |||||
Approximately 48% of “In release” film production assets are estimated to be amortized over the next 12 months and approximately 78% of “In release” film production assets are estimated to be amortized over the next three years. We anticipate amortizing 80% of our "In release" film production assets within four years as we receive revenues associated with international distribution of our licensed film. | |||||||||
During the year ended December 31, 2013, we released three feature films via theatrical distribution, No One Lives, The Call and Dead Man Down and one made-for television film, Christmas Bounty. These four films comprise $2,446 of our “In release” feature film assets, as of December 31, 2013. We also released two feature films, 12 Rounds 2: Reloaded and The Marine 3: Homefront direct to DVD during the year ended December 31, 2013, which comprise $2,808 of our "In release" feature film assets as of December 31, 2013. Third-party distributors control the distribution and marketing of these films, and as a result, we recognize revenue on a net basis after the third-party distributor recoups distribution fees and expenses and results are reported to us. Results are typically reported to us in periods subsequent to the initial release of the film. | |||||||||
7. Feature Film Production Assets, Net (continued) | |||||||||
During the year ended December 31, 2012, we released two feature films under our self-distribution model, Bending the Rules and Barricade which comprise $128 of our “In release” feature film assets December 31, 2013. We also re-issued one feature film, No Holds Barred direct-to-DVD under our self-distribution model during the year ended December 31, 2012. Under this distribution model, we control the distribution and marketing of these films. As a result, we record revenues and expenses on a gross basis in our consolidated financial statements. We also record distribution expenses, including advertising and other exploitation costs, in our financial statements as incurred. During 2012, the Company entered into an agreement to co-distribute the feature film, The Day, domestically. This film was released during August 2012 and the Company recognizes revenue generated by this film in a manner similar to how it recognizes revenue for its 2013 released films; on a net basis, after distribution fees and expenses have been recouped and expenses and results have been reported to us. | |||||||||
Unamortized feature film production assets are evaluated for impairment each reporting period. We review and revise estimates of ultimate revenue and participation costs at each reporting period to reflect the most current information available. If estimates for a film’s ultimate revenue are revised and indicate a significant decline in a film’s profitability or if events or circumstances change that indicate we should assess whether the fair value of a film is less than its unamortized film costs, we calculate the films' estimated fair value using a discounted cash flows model. If fair value is less than unamortized cost, the film is written down to fair value. | |||||||||
We recorded impairment charges of $11,661, $1,229 and $23,414 related to our feature films during the years ended December 31, 2013, 2012 and 2011, respectively. These impairment charges represent the excess of the recorded net carrying value over the estimated fair value. | |||||||||
We currently have two theatrical films designated as “Completed but not released”. We have also capitalized certain script development costs for various other film projects designated as “In development”. Capitalized script development costs are evaluated at each reporting period for impairment and to determine if a project is deemed to be abandoned. During the year ended December 31, 2013, we did not record any expense related to previously capitalized development costs related to abandoned projects. Approximately $1,045 and $728 of previously capitalized development costs were expensed for abandoned projects in 2012 and 2011, respectively. |
Television_Production_Assets
Television Production Assets | 12 Months Ended |
Dec. 31, 2013 | |
Television Production Assets [Abstract] | ' |
Television Production Assets [Text Block] | ' |
Television Production Assets, Net | |
Television production assets consist primarily of episodic television series we have produced for distribution, either on our upcoming WWE Network or through other distribution platforms. Amounts capitalized include development costs, production costs, post-production costs and related production or post-production overhead. We have $10,772 and $6,331 capitalized as of December 31, 2013 and 2012, respectively, related to this type of programming. Costs to produce our live event programming are expensed when the event is first broadcast. For the year ended December 31, 2013, we amortized $7,012 related to the airings of the new television series, Total Divas. We did not amortize any expenses during the year ended December 31, 2012. Unamortized television production assets are evaluated for impairment each reporting period. If conditions indicate a potential impairment, and the estimated future cash flows are not sufficient to recover the unamortized asset, the asset is written down to fair value. In addition, if we determine that a program will not likely air, we will write-off the remaining unamortized asset. During the during the years ended December 31, 2013 and 2012, we did not record any impairments related to our television production assets. |
Accounts_Payable_and_Accrued_E
Accounts Payable and Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Expenses | ' | ||||||||
Accounts Payable and Accrued Expenses | |||||||||
Accounts payable and accrued expenses consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Trade related | $ | 8,565 | $ | 7,364 | |||||
Payroll and related benefits | 11,291 | 16,099 | |||||||
Talent related | 6,304 | 9,805 | |||||||
Accrued event and television production | 4,429 | 5,122 | |||||||
Accrued home entertainment expenses | 1,341 | 1,989 | |||||||
Accrued legal and professional | 1,903 | 1,243 | |||||||
Accrued purchases of property and equipment and other assets | 1,700 | 1,415 | |||||||
Accrued film liability | 2,654 | 572 | |||||||
Accrued other | 9,695 | 5,345 | |||||||
Total | $ | 47,882 | $ | 48,954 | |||||
Accrued other includes accruals for our publishing and licensing business activities and other miscellaneous accruals, none of which categories individually exceeds 5% of current liabilities. |
Debt
Debt | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Debt Disclosure [Abstract] | ' | ||||
Senior Unsecured Revolving Credit Facility | ' | ||||
Debt | |||||
On August 7, 2013, the Company entered into a $31,568 promissory note (the “Note”) with RBS Asset Finance, Inc., for the purchase of a 2007 Bombardier Global 5000 aircraft and refurbishments. The Note bears interest at a rate of 2.18% per annum, is payable in monthly installments of $406, inclusive of interest, beginning in September 2013 and has a final maturity of August 7, 2020. The Note is secured by a first priority perfected security interest in the newly purchased aircraft. There was $29,636 of borrowings outstanding related to the Note as of December 31, 2013. Under the terms of the Note, the Company has the ability to borrow up to an additional $535 for refurbishments to the corporate aircraft. | |||||
In September 2011, the Company entered into a $200,000 senior unsecured revolving credit facility with a syndicated group of banks, with JPMorgan Chase acting as administrative agent. In April 2013, the Company amended and restated the revolving credit facility. Under the terms of the amended credit facility, (i) the maturity date was extended to September 9, 2016, (ii) changes were made to the applicable margin for borrowings under the facility, and (iii) restrictions on certain financial covenants were amended to provide for greater financial flexibility. Applicable interest rates for the borrowings under the revolving credit facility are based on the Company's current consolidated leverage ratio. As of December 31, 2013, the LIBOR-based rate plus margin was 2.00%. As of December 31, 2013 and 2012, there were no amounts outstanding under the credit facility. The Company is required to pay a commitment fee calculated at a rate per annum of 0.375% on the average daily unused portion of the credit facility. At December 31, 2013, the Company had available debt capacity under the terms of the revolving credit facility of approximately $83,000. | |||||
Under the terms of the revolving credit facility, the Company is subject to certain financial covenants and restrictions, including limitations with respect to our indebtedness, liens, mergers and acquisitions, dispositions of assets, investments, capital expenditures, and transactions with affiliates. In addition, the revolving credit facility restricts our ability to pay dividends if a default or event of default has occurred and is continuing thereunder, or if our consolidated leverage ratio (as calculated under the revolving credit facility) exceeds 2.8:1.0 or if our consolidated fixed charge coverage ratio (as calculated under the revolving credit facility) does not exceed 1.25:1.0. As of December 31, 2013, the Company is in compliance with the provisions of this credit facility. | |||||
10. Debt (continued) | |||||
As of December 31, 2013, the scheduled principal repayments under our Note obligation for the subsequent five years and the remaining term of the note thereafter are as follows: | |||||
31-Dec-14 | $ | 4,251 | |||
31-Dec-15 | 4,345 | ||||
31-Dec-16 | 4,440 | ||||
31-Dec-17 | 4,538 | ||||
31-Dec-18 | 4,638 | ||||
Thereafter | 7,424 | ||||
$ | 29,636 | ||||
The table above assumes that the Note will not be prepaid prior to its maturity on August 7, 2020. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
For the years ended December 31, 2013, 2012 and 2011, we were taxed on our income from continuing operations at an effective tax rate of 39.9%, 26.4% and 32.7%, respectively. Our income tax provision for the years ended December 31, 2013, 2012 and 2011 was $1,839, $11,252 and $12,049, respectively, and included federal, state and foreign taxes. | |||||||||||||
The components of our tax provision are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 2,933 | $ | 4,825 | $ | 16,674 | |||||||
State and local | 162 | 66 | 2,180 | ||||||||||
Foreign | 166 | 178 | (381 | ) | |||||||||
Deferred: | |||||||||||||
Federal | (725 | ) | 6,150 | (5,687 | ) | ||||||||
State and local | (680 | ) | 34 | (737 | ) | ||||||||
Foreign | (17 | ) | (1 | ) | — | ||||||||
Total | $ | 1,839 | $ | 11,252 | $ | 12,049 | |||||||
Components of income before income taxes are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 4,011 | $ | 42,397 | $ | 36,764 | |||||||
International subsidiaries | 592 | 287 | 117 | ||||||||||
Income before income taxes | $ | 4,603 | $ | 42,684 | $ | 36,881 | |||||||
11. Income Taxes (continued) | |||||||||||||
The following sets forth the difference between the provision for income taxes computed at the U.S. federal statutory income tax rate of 35% and that reported for financial statement purposes: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory U.S. federal tax at 35% | $ | 1,611 | $ | 14,939 | $ | 12,908 | |||||||
State and local taxes, net of federal benefit | 94 | 1,297 | 723 | ||||||||||
Foreign rate differential | (21 | ) | (32 | ) | 562 | ||||||||
Tax exempt interest income | (341 | ) | (492 | ) | (574 | ) | |||||||
Qualified production activity deduction | (94 | ) | (854 | ) | (1,450 | ) | |||||||
Unrecognized tax benefits | (278 | ) | (3,827 | ) | 40 | ||||||||
Meals and entertainment | 257 | 198 | 113 | ||||||||||
Employee Stock Purchase Plan | 133 | 41 | (17 | ) | |||||||||
Property and equipment depreciation | 635 | — | — | ||||||||||
Other | (157 | ) | (18 | ) | (256 | ) | |||||||
Provision for income taxes | $ | 1,839 | $ | 11,252 | $ | 12,049 | |||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities consisted of the following: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accounts receivable | $ | 1,070 | $ | 2,302 | |||||||||
Inventory | 4,768 | 4,640 | |||||||||||
Prepaid royalties | 5,878 | 7,045 | |||||||||||
Stock options/stock compensation | 1,969 | 1,235 | |||||||||||
Net operating loss carryforwards | 1,512 | 1,618 | |||||||||||
Investments | 3 | — | |||||||||||
Intangible assets | 2,768 | 2,584 | |||||||||||
Accrued liabilities and reserves | 519 | 411 | |||||||||||
Federal benefit related to uncertain tax positions | 709 | 864 | |||||||||||
Deferred tax assets, gross | 19,196 | 20,699 | |||||||||||
Valuation allowance | (1,512 | ) | (1,616 | ) | |||||||||
Deferred tax assets, net | 17,684 | 19,083 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment depreciation | (5,174 | ) | (7,825 | ) | |||||||||
Capitalized feature film production costs | (2,951 | ) | (2,894 | ) | |||||||||
Investments | (3 | ) | (230 | ) | |||||||||
Deferred tax liabilities | (8,128 | ) | (10,949 | ) | |||||||||
Total deferred tax assets, net | $ | 9,556 | $ | 8,134 | |||||||||
11. Income Taxes (continued) | |||||||||||||
The temporary differences described above represent differences between the tax basis of assets or liabilities and amounts reported in the consolidated financial statements that will result in taxable or deductible amounts in future years when the reported amounts of the assets or liabilities are recovered or settled. The Company received tax deductions from the exercise of stock options, restricted stock units and performance stock units of $3,939, $2,747 and $4,908 in 2013, 2012 and 2011, respectively. | |||||||||||||
As of December 31, 2013 and 2012, $12,237 and $14,403, respectively, of the deferred tax assets, net, are categorized as current assets in our consolidated balance sheets. As of December 31, 2013, $2,681 was included in non-current income tax liabilities, and as of December 31, 2012, $6,269 was included in other assets in our consolidated balance sheets. | |||||||||||||
As of December 31, 2013 and 2012, we had valuation allowances of $1,512 and $1,616 respectively, to reduce our deferred tax assets to an amount more likely than not to be recovered. This valuation allowance relates to losses incurred as a result of our Australian film entities, and are not expected to be realized due to the suspension of film activity in Australia. | |||||||||||||
We are subject to periodic audits of our various tax returns by government agencies which could result in possible tax liabilities. Although the outcome of these matters cannot currently be determined, we believe the outcome of these audits will not have a material effect on our financial statements. | |||||||||||||
U.S. income taxes have not been provided for on approximately $4,432 of unremitted earnings of our international subsidiaries. These earnings are expected to be indefinitely reinvested overseas. It is not practical to compute the estimated deferred tax liability on these earnings. Any additional U.S. taxes payable on the remaining foreign earnings, if remitted, would be substantially offset by credits for foreign taxes already paid. | |||||||||||||
Unrecognized Tax Benefits | |||||||||||||
For the year ended December 31, 2013, we recognized $330 of previously unrecognized tax benefits. This primarily relates to the statute of limitations expiring in certain state and local jurisdictions. Included in the amount recognized was $32 of potential interest and penalties related to uncertain tax positions. For the year ended December 31, 2012, we recognized $4,352 of previously unrecognized tax benefits relating to the settlement of various audits, including the State of Connecticut, the IRS, and other state and local jurisdictions. Included in the amount recognized was $1,520 of potential interest and penalties related to uncertain tax positions. The recognition of these amounts contributed to our effective tax rate of 39.9%for the year ended December 31, 2013 as compared to 26.4% for the year ended December 31, 2012. | |||||||||||||
At December 31, 2013, we had $1,786 of unrecognized tax benefits, which if recognized, would affect our effective tax rate. Of this amount, $174 is classified in Prepaid expense and other current assets and the remaining $1,612 is classified in Non-current income tax liabilities. At December 31, 2012, we had $2,128 of unrecognized tax benefits. This entire amount was classified in Non-current income tax liabilities. | |||||||||||||
11. Income Taxes (continued) | |||||||||||||
Unrecognized tax benefit activity is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning Balance- January 1 | $ | 2,128 | $ | 10,733 | $ | 10,083 | |||||||
Increase to unrecognized tax benefits recorded for positions taken during the current year | 108 | 307 | 1,226 | ||||||||||
(Decrease) Increase to unrecognized tax benefits recorded for positions taken during a prior period | (3 | ) | (2,591 | ) | 470 | ||||||||
Decrease in unrecognized tax benefits relating to settlements with taxing authorities | (28 | ) | (5,793 | ) | (242 | ) | |||||||
Decrease to unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | (419 | ) | (528 | ) | (804 | ) | |||||||
Ending Balance- December 31 | $ | 1,786 | $ | 2,128 | $ | 10,733 | |||||||
We recognize potential accrued interest and penalties related to uncertain tax positions in income tax expense. We have $453 of accrued interest and $171 of accrued penalties related to uncertain tax positions as of December 31, 2013. Of these amounts, $33 is classified in Prepaid expense and other current assets and the remaining $591 was classified in Non-current income tax liabilities. At December 31, 2012, we had $502 of accrued interest and $214 of accrued penalties related to uncertain tax positions. Of this amount, $20 was classified in Prepaid expense and other current assets and the remaining $696 was classified in Non-current income tax liabilities. | |||||||||||||
Based upon the expiration of statutes of limitations and possible settlements in several jurisdictions, we believe it is reasonably possible that the total amount of previously unrecognized tax benefits may decrease by approximately $890 within 12 months after December 31, 2013. | |||||||||||||
We file income tax returns in the United States and various state, local, and foreign jurisdictions. During 2013, the Company settled audits with various state, local, and foreign jurisdictions. We are subject to examination by the IRS, and with few exceptions, other state and local jurisdictions, for years ending on or after December 31, 2010. |
Film_and_Television_Production
Film and Television Production Incentives | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Film and Television Production Incentives [Abstract] | ' | ||||||||||||
Film and Television Production Incentives | ' | ||||||||||||
Film and Television Production Incentives | |||||||||||||
The Company has access to various governmental programs that are designed to promote film and television production within the United States and certain international jurisdictions. Incentives earned with respect to expenditures on qualifying film, television and other production activities, including qualifying capital projects, are included as an offset to the related asset or as an offset to production expenses when we have reasonable assurance regarding the realizable amount of the incentives. Film and television production incentives received consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Feature film production incentives | $ | 864 | $ | 1,851 | $ | 6,067 | |||||||
Television production incentives | 10,345 | 7,979 | 6,565 | ||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||
Commitments and Contingencies | ' | ||||||||||||||||
Commitments and Contingencies | |||||||||||||||||
We have certain commitments, including various non-cancelable operating leases for facilities and sales offices, service contracts with certain vendors and various talent. | |||||||||||||||||
Future minimum payments as of December 31, 2013 under the agreements described above were as follows: | |||||||||||||||||
Operating | Talent and Other | Service Agreement Commitments | Total | ||||||||||||||
Lease | Commitments | ||||||||||||||||
Commitments | |||||||||||||||||
2014 | $ | 3,866 | $ | 14,970 | $ | 7,637 | $ | 26,473 | |||||||||
2015 | 2,732 | 9,688 | — | 12,420 | |||||||||||||
2016 | 2,413 | 8,251 | — | 10,664 | |||||||||||||
2017 | 1,605 | 7,131 | — | 8,736 | |||||||||||||
2018 | 1,357 | 1,513 | — | 2,870 | |||||||||||||
Thereafter | 3,257 | 3,748 | — | 7,005 | |||||||||||||
Total | $ | 15,230 | $ | 45,301 | $ | 7,637 | $ | 68,168 | |||||||||
Rent expense under operating lease commitments totaled $5,405, $4,608 and $2,847 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Legal Proceedings | |||||||||||||||||
We are involved in several suits and claims that we consider to be in the ordinary course of our business. By its nature, the outcome of litigation is not known but the Company does not currently expect its pending litigation to have a material adverse effect on our financial condition, results of operations or liquidity. We may from time to time become a party to other legal proceedings. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Related Party Transactions | |
Vincent K. McMahon, Chairman of the Board of Directors and Chief Executive Officer, controls a substantial majority of the voting power of the issued and outstanding shares of our common stock. Through the beneficial ownership of a substantial majority of our Class B common stock, Mr. McMahon can effectively exercise control over our affairs. | |
From February 2008 until April 2011, the Board of Directors authorized quarterly cash dividends of $0.36 per share on all Class A common shares. The quarterly dividend on all Class A and Class B shares held by members of the McMahon family and their respective trusts remained at $0.24 per share for a period of three years due to a waiver received from the McMahon family. This waiver expired after the declaration of the March 2011 dividend. | |
Linda McMahon, former Chief Executive Officer of the Company, was a candidate for the United States Senate, representing the State of Connecticut, in 2010 and 2012. Mrs. McMahon’s election teams engaged the Company to produce certain television advertisements during these campaigns. The Company performed these services and charged the campaigns the fair market value for the provided television production services, which were approximately $4 and $3 for the years ended December 31, 2012 and 2011, respectively. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity | ' |
Stockholders’ Equity | |
Class B Convertible Common Stock | |
Our Class B common stock is fully convertible into Class A common stock, on a one for one basis, at any time at the option of the holder. The two classes are entitled to equal per share dividends and distributions and vote together as a class with each share of Class B entitled to ten votes and each share of Class A entitled to one vote, except when separate class voting is required | |
15. Stockholders’ Equity (continued) | |
by applicable law. If, at any time, any shares of Class B common stock are beneficially owned by any person other than Vincent McMahon, Linda McMahon, any descendant of either of them, any entity which is wholly owned and is controlled by any combination of such persons or any trust, all the beneficiaries of which are any combination of such persons, each of those shares will automatically convert into shares of Class A common stock. During the years ended December 31, 2013, 2012 and 2011, Class B shares were sold, resulting in their conversion to Class A shares. Through his beneficial ownership of a substantial majority of our Class B common stock, our controlling stockholder, Vincent McMahon, can effectively exercise control over our affairs, and his interests could conflict with the holders of our Class A common stock. | |
Dividends | |
In April 2011, the Board of Directors adjusted the Company’s quarterly dividend to $0.12 per share on all Class A and Class B shares. | |
From February 2008 through the first quarter of 2011, the Board of Directors authorized quarterly cash dividends of $0.36 per share on all Class A common shares. The quarterly dividend on all Class A and Class B shares held by members of the McMahon family and their respective trusts remained at $0.24 per share for a period of three years due to a waiver received from the McMahon family. This waiver expired after the declaration of the March 2011 dividend. | |
We paid quarterly dividends of $0.12 per share, totaling $35,979 and $35,815, on all Class A and Class B shares for the years ended December 31, 2013 and 2012, respectively. In the year ended December 31, 2011, we paid one quarterly dividend of $0.36 per share and three quarterly dividends of $0.12 per share, totaling $19,957, on all Class A common shares, and we paid one quarterly dividend of $0.24 per share and three quarterly dividends of $0.12 per share, totaling $27,852, on all Class B common shares. |
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock Based Compensation | ' | ||||||||||||
Stock-based Compensation | |||||||||||||
The 2007 Omnibus Incentive Plan (the "2007 Plan") provides for equity-based incentive awards as determined by the compensation committee of the Board of Directors as incentives and rewards to encourage officers and employees to participate in our long-term success. In 2004, we began issuing RSUs, which typically have a three year service requirement and vest in equal annual installments. In 2007, we began issuing PSUs in addition to RSUs, which are subject to certain performance conditions and generally vest ratably over three and one-half years. | |||||||||||||
As of December 31, 2013, there were approximately 2.3 million shares available for future grants under the 2007 Plan. It is our policy to issue new shares to satisfy option exercises and the vesting of RSUs and PSUs. | |||||||||||||
Stock Options | |||||||||||||
We have not granted any stock options since June 2004. Since December 31, 2012, there are no stock options outstanding and no options were exercised during the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Restricted Stock Units | |||||||||||||
The Company grants RSUs to officers and employees under our 2007 Plan. Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | ||||||||||
Granted | 51,977 | $ | 9.91 | ||||||||||
Vested | (64,357 | ) | $ | 10.2 | |||||||||
Forfeited | (32,550 | ) | $ | 9.04 | |||||||||
Dividend Equivalents | 5,789 | $ | 9.47 | ||||||||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 632 | $ | 1,320 | $ | 370 | |||||||
Tax benefits realized | 621 | 494 | 141 | ||||||||||
Weighted-average grant-date fair value of RSUs granted | 515 | 1,366 | 632 | ||||||||||
Fair value of RSUs vested | 656 | 647 | 1,700 | ||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested RSUs net of estimated forfeitures, was approximately $424, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.3 years. | |||||||||||||
Performance Stock Units | |||||||||||||
Stock-based compensation costs associated with our PSUs are initially determined using the fair market value of the Company's common stock on the date the awards are approved by our Compensation Committee (service inception date) and are granted under our 2007 Plan. The vesting of these PSUs are subject to certain performance conditions and a service requirement of three and one half years. Until such time the performance conditions are met, stock compensation costs associated with these PSUs are re-measured each reporting period based upon the fair market value of the Company's common stock and the probability of attainment on the reporting date. The ultimate number of PSUs that are issued to an employee is the result of the actual performance of the Company at the end of the performance period compared to the performance conditions. Stock compensation costs for our PSUs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. Unvested PSUs accrue dividend equivalents once the performance conditions are met at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying PSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of PSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 685,703 | $ | 8.37 | ||||||||||
Granted | 932,786 | $ | 15.47 | ||||||||||
Vested | (314,008 | ) | $ | 9.35 | |||||||||
Forfeited | (74,318 | ) | $ | 11.81 | |||||||||
Dividend Equivalents | 29,466 | $ | 10.27 | ||||||||||
Unvested at December 31, 2013 | 1,259,629 | $ | 13.46 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 4,489 | $ | 2,440 | $ | 2,378 | |||||||
Tax benefits realized | 3,318 | 2,252 | 904 | ||||||||||
Weighted-average grant-date fair value of PSUs granted | 14,430 | 4,913 | 6,062 | ||||||||||
Fair value of PSUs vested | 2,937 | 4,375 | 5,878 | ||||||||||
During the year ended December 31, 2012, we granted 622,700 PSUs which were subject to performance conditions. During the three months ended March 31, 2013, the certain performance conditions related to these PSUs were met which resulted in us granting 127,890 additional PSU's in 2013 relating to the initial 2012 PSU grant. | |||||||||||||
During the three months ended March 31, 2013, we granted 804,896 PSUs which are subject to certain performance conditions. | |||||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested PSUs, net of estimated forfeitures, was approximately $5,733, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.6 years. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
We provide a stock purchase plan for our employees. Under the plan, all regular full-time employees may contribute up to 10% of their base compensation (subject to certain income limits) to the semi-annual purchase of shares of our common stock. The purchase price is 85% of the fair market value at certain plan-defined dates. As this plan is defined as compensatory, a charge is recorded to Selling, general and administrative expense for the difference between the fair market value and the discounted price. During 2013, 2012 and 2011, employees purchased 76,219, 76,676 and 67,537 shares of our common stock which resulted in an expense of $404, $85, $110, respectively. |
Employee_Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2013 | |
Employee Benefit Plans [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
Employee Benefit Plans | |
We sponsor a 401(k) defined contribution plan covering substantially all employees. Under this plan, participants are allowed to make contributions based on a percentage of their salary, subject to a statutorily prescribed annual limit. We make matching contributions of 50% of each participant’s contributions, up to 6% of eligible compensation. We may also make additional discretionary contributions to the 401(k) plan. Our expense for matching contributions to the 401(k) plan was $1,606, $1,384 and $1,239 for the years ended December 31, 2013, 2012 and 2011, respectively. The Company did not make any discretionary contributions for the years ended December 31, 2013, 2012 or 2011. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
Segment Information | |||||||||||||
As discussed in Note 1, the Company currently classifies its operations into four reportable segments: Live and Televised Entertainment, Consumer Products, Digital Media and WWE Studios. | |||||||||||||
Beginning in the first quarter of 2013, the Company made changes to its operating plan and management reporting to reflect a change in the measurement used by management to evaluate performance. The Company changed its measure of segment profit (loss) to operating income (loss) before depreciation and amortization or "OIBDA". Prior to 2013, the Company measured segment profit (loss) using operating income. The Company revised its financial information and disclosures for prior periods to reflect the segment disclosures as if the current measure of profit (loss), OIBDA, had been in effect throughout all periods presented. | |||||||||||||
The Company presents OIBDA as the primary measure of segment profit (loss). The Company believes the presentation OIBDA is relevant and useful for investors because it allows investors to view our segment performance in the same manner as the primary method used by management to evaluate performance and make decisions about allocating resources. The Company defines OIBDA as operating income before depreciation and amortization, excluding feature film amortization and film impairments. | |||||||||||||
We do not allocate certain costs included in OIBDA to our reportable segments. These costs are primarily corporate overhead expenses and costs which benefit the Company as a whole and are therefore not allocated to our reportable segments. Starting in the second quarter of 2012, we began allocating certain staff related expenses, specifically stock compensation costs, management incentive compensation and medical benefits in our management reporting and, as such, we included these costs in the calculation of OIBDA for our reportable segments. This change did not have a material impact on our reportable segments' OIBDA. Revenues from transactions between our operating segments are not material. | |||||||||||||
18. Segment Information (continued) | |||||||||||||
The following tables present summarized financial information for each of the Company's reportable segments: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net revenues: | |||||||||||||
Live and Televised Entertainment | $ | 382,257 | $ | 353,849 | $ | 339,979 | |||||||
Consumer Products | 76,406 | 87,756 | 94,914 | ||||||||||
Digital Media | 38,529 | 34,531 | 28,132 | ||||||||||
WWE Studios | 10,778 | 7,877 | 20,896 | ||||||||||
Total net revenues | $ | 507,970 | $ | 484,013 | $ | 483,921 | |||||||
Depreciation and amortization: | |||||||||||||
Live and Televised Entertainment | $ | 6,657 | $ | 9,238 | $ | 7,491 | |||||||
Consumer Products | 1,562 | 874 | 460 | ||||||||||
Digital Media | 2,693 | 1,485 | 1,174 | ||||||||||
WWE Studios | 9 | 9 | 9 | ||||||||||
Unallocated Corporate and other | 13,548 | 8,418 | 5,846 | ||||||||||
Total depreciation and amortization | $ | 24,469 | $ | 20,024 | $ | 14,980 | |||||||
OIBDA: | |||||||||||||
Live and Televised Entertainment | $ | 119,498 | $ | 126,452 | $ | 123,414 | |||||||
Consumer Products | 40,794 | 48,641 | 51,033 | ||||||||||
Digital Media | 7,935 | 10,325 | 7,175 | ||||||||||
WWE Studios | (12,744 | ) | (5,457 | ) | (29,375 | ) | |||||||
Unallocated Corporate and other | (125,123 | ) | (116,742 | ) | (100,248 | ) | |||||||
Total OIBDA | $ | 30,360 | $ | 63,219 | $ | 51,999 | |||||||
Reconciliation of Total Operating Income to Total OIBDA | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Total operating income | $ | 5,891 | $ | 43,195 | $ | 37,019 | |||||||
Depreciation and amortization | 24,469 | 20,024 | 14,980 | ||||||||||
Total OIBDA | $ | 30,360 | $ | 63,219 | $ | 51,999 | |||||||
18. Segment Information (continued) | |||||||||||||
Assets by Segment: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Live and Televised Entertainment | $ | 186,015 | $ | 150,014 | |||||||||
Consumer Products | 12,940 | 13,227 | |||||||||||
Digital Media | 9,187 | 8,854 | |||||||||||
WWE Studios | 18,322 | 27,410 | |||||||||||
Unallocated Corporate and other | 151,998 | 181,878 | |||||||||||
Total assets | $ | 378,462 | $ | 381,383 | |||||||||
Included in Live and Televised Entertainment for the year ended December 31, 2013 is $30,898 of costs related to the acquisition and refurbishment of a 2007 Bombardier Global 5000 aircraft. The aircraft was refurbished and placed into service in February 2014. Unallocated assets represent certain assets not allocated to the reportable segments. These assets are primarily corporate related and benefit the Company as a whole. | |||||||||||||
Capital Spending by Segment: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Live and Televised Entertainment | $ | 31,077 | $ | 3,123 | $ | 5,210 | |||||||
Consumer Products | 225 | 5,188 | 1,793 | ||||||||||
Digital Media | 4,110 | 1,996 | 1,686 | ||||||||||
Corporate and other | 20,518 | 23,583 | 19,267 | ||||||||||
Total purchases of property and equipment and other assets | $ | 55,930 | $ | 33,890 | $ | 27,956 | |||||||
Geographic Information | |||||||||||||
Net revenues by major geographic region are based upon the geographic location of where our content is distributed. The information below summarizes net revenues to unaffiliated customers by geographic area: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 391,663 | $ | 365,942 | $ | 350,523 | |||||||
Europe/Middle East/Africa | 72,409 | 70,720 | 76,165 | ||||||||||
Asia Pacific | 37,269 | 37,087 | 38,662 | ||||||||||
Latin America | 6,629 | 10,264 | 18,571 | ||||||||||
Total net revenues | $ | 507,970 | $ | 484,013 | $ | 483,921 | |||||||
Revenues generated from the United Kingdom, our largest international market, totaled $36,003, $34,001 and $33,178 for the years ended December 31, 2013, 2012 and 2011, respectively. The Company's property and equipment was almost entirely located in the United States at December 31, 2013 and 2012. |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Concentration of Credit Risk [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
Concentration of Credit Risk | |
We continually monitor our position with, and the credit quality of, the financial institutions that are counterparties to our financial instruments. Our accounts receivable relates principally to a limited number of distributors, including our television, pay-per-view and home video distributors and licensees that produce consumer products containing our intellectual trademarks. We closely monitor the status of receivables with these customers and maintain allowances for anticipated losses as deemed appropriate. At December 31, 2013, our largest single customer balance was approximately 13% of our gross accounts receivable balance. |
Quarterly_Financial_Summaries
Quarterly Financial Summaries | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
Quarterly Financial Summaries (unaudited) | |||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
2013 | (1) (3) | (2) | (1) (2) | -1 | |||||||||||||
Net revenues | $ | 124,001 | $ | 152,282 | $ | 113,292 | $ | 118,395 | |||||||||
Cost of revenues | $ | 74,866 | $ | 96,855 | $ | 70,947 | $ | 80,360 | |||||||||
Net income (loss) | $ | 3,034 | $ | 5,182 | $ | 2,439 | $ | (7,891 | ) | ||||||||
Net income (loss) per common share: basic | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.11 | ) | ||||||||
Net income (loss) per common share: diluted | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.10 | ) | ||||||||
2012 | |||||||||||||||||
Net revenues | $ | 123,068 | $ | 141,648 | $ | 104,197 | $ | 115,100 | |||||||||
Cost of revenues | $ | 68,397 | $ | 85,484 | $ | 61,406 | $ | 69,166 | |||||||||
Net income | $ | 15,331 | $ | 11,943 | $ | 3,527 | $ | 631 | |||||||||
Net income per common share: basic | $ | 0.21 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||
Net income per common share: diluted | $ | 0.2 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||
-1 | Cost of revenues for the first and third quarters of 2013 includes impairment charges of $4,696 and $6,965, respectively, related to certain of our feature films. Cost of revenues for the first and fourth quarters of 2012 includes impairment charges of $754 and $475, respectively, related to certain of our feature films. See Note 7. Feature Film Production Assets. | ||||||||||||||||
-2 | Net income for the second and third quarters of 2013 and 2012 includes the benefit of $257, $6,373, and $1,031, $4,143, respectively, relating to incentives received relating to television production. | ||||||||||||||||
-3 | Net income includes a $4,057 tax benefit in the first quarter of 2012 related to previously unrecognized tax benefits. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Event [Line Items] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Event | |
On January 8, 2014, the Company announced the launch of WWE Network. WWE Network, the first-ever 24/7 streaming network, will launch live in the U.S. on Monday, February 24, 2014 featuring all twelve WWE live pay-per-view events – including WrestleMania. WWE Network will also include original programming, reality shows, documentaries, classic matches and more than 1,500 hours of video on demand. In anticipation of launching WWE Network, the Company announced that it will cease operations of its WWE Classics on Demand Subscription On Demand offering in January 2014. Additionally, the launch of WWE Network, which reimagines the distribution of WWE’s pay-per-view events, could reduce the monetization of other assets, such as pay-per-view and other content distributed on certain digital platforms, the effect of which the Company is not able to estimate. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
(in thousands) | |||||||||||||||||
Description | Balance at | Charges to | Deductions/Adjustments * | Balance at | |||||||||||||
Beginning of Year | Expense/ | End of Year | |||||||||||||||
Against Revenues | |||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||
Allowance for doubtful accounts | $ | 6,275 | $ | (6 | ) | $ | (3,483 | ) | $ | 2,786 | |||||||
Magazine publishing allowance for newsstand returns | 2,145 | 14,948 | (15,055 | ) | 2,038 | ||||||||||||
Home video allowance for returns | 6,271 | 18,711 | (20,462 | ) | 4,520 | ||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||
Allowance for doubtful accounts | $ | 2,179 | $ | 2,483 | $ | 1,613 | $ | 6,275 | |||||||||
Magazine publishing allowance for newsstand returns | 3,286 | 14,355 | (15,496 | ) | 2,145 | ||||||||||||
Home video allowance for returns | 7,096 | 15,990 | (16,815 | ) | 6,271 | ||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||
Allowance for doubtful accounts | $ | 12,316 | $ | (692 | ) | $ | (9,445 | ) | $ | 2,179 | |||||||
Magazine publishing allowance for newsstand returns | 4,277 | 23,626 | (24,617 | ) | 3,286 | ||||||||||||
Home video allowance for returns | 5,637 | 18,778 | (17,319 | ) | 7,096 | ||||||||||||
* Includes deductions which are comprised primarily of write-offs of specific bad debts and returns of magazines and home videos from retailers or adjustments to the allowance account which affects bad debt expense. |
Summary_of_Signficant_Accounti1
Summary of Signficant Accounting Policies(Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Use of Estimates, Policy [Policy Text Block] | ' | |
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||
Consolidation, Policy [Policy Text Block] | ' | |
Basis of Consolidation — The consolidated financial statements include the accounts of WWE and all of its domestic and foreign subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash and Cash Equivalents — Cash and cash equivalents include cash on deposit in overnight deposit accounts and investments in money market accounts with maturities of three months or less at the time of purchase. | ||
Investment, Policy [Policy Text Block] | ' | |
Investment Securities, Net — We classify all of our investments as available-for-sale securities. Such investments consist primarily of municipal bonds, including pre-refunded municipal bonds, and corporate bonds. All of these investments are stated at fair value, with unrealized gains and losses on such securities reflected, net of tax, as other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on investments are included in earnings and are derived using the specific identification method for determining the cost of securities sold. | ||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | |
Accounts Receivable, Net — Accounts receivable relate principally to amounts due to us from pay-per-view providers and television networks for pay-per-view presentations and television programming, respectively, and balances due from the sale of home videos and magazines. We estimate the collectability of our receivables and establish allowances for the amount of accounts receivable that we estimate to be uncollectible. We base these allowances on our historical collection experience, the length of time our accounts receivable are outstanding and the financial condition of individual customers. An individual balance is charged | ||
2. Summary of Significant Accounting Policies (continued) | ||
to the allowance when all collection efforts have been exhausted and it is deemed likely to be uncollectible, taking into consideration the financial condition of the customer and other factors. | ||
Inventory, Policy [Policy Text Block] | ' | |
Inventory — Inventory consists of merchandise sold on our website, merchandise sold at live events and DVDs/Blu-rays, which are sold via a distributor to retailers. Substantially all of our inventory is comprised of finished goods. Inventory is stated at the lower of cost (first-in, first-out basis) or market. The valuation of our inventories requires management to make market estimates assessing the quantities and the prices at which we believe the inventory can be sold. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Property and Equipment, Net — Property and equipment are stated at historical cost net of benefits associated with tax incentives less accumulated depreciation and amortization. Depreciation and amortization is computed on a straight-line basis over the estimated useful lives of the assets or, when applicable, the life of the lease, whichever is shorter. Vehicles and equipment are depreciated based on estimated useful lives varying from three to five years. Buildings and related improvements are depreciated based on estimated useful lives varying from five to thirty-nine years. Our corporate aircraft is depreciated over ten years on a straight-line basis less an estimated residual value. In 2013, we purchased a new corporate aircraft which we refurbished and placed into service in February 2014. It is being depreciated in the same manner as our previous corporate aircraft. | ||
Feature Films Production Assets, Net, Policy [Policy Text Block] | ' | |
Feature Film Production Assets, Net — Feature film production assets are recorded at the cost of production, including production overhead and net of production incentives. The costs for an individual film are amortized in the proportion that revenues bear to management’s estimates of the ultimate revenue expected to be recognized from exploitation, exhibition or sale. Unamortized feature film production assets are evaluated for impairment each reporting period. We review and revise estimates of ultimate revenue and participation costs at each reporting period to reflect the most current information available. If estimates for a film’s ultimate revenue are revised and indicate a significant decline in a film’s profitability or if events or circumstances change that indicate we should assess whether the fair value of a film is less than its unamortized film costs, we calculate the film's estimated fair value using a discounted cash flows model. If fair value is less than the unamortized cost, the film is written down. Impairment charges are recorded as an increase in amortization expense included in cost of revenues in the consolidated income statements. | ||
Our estimate of ultimate revenues for feature films includes revenues from all sources for ten years from the date of a film’s initial release. We estimate the ultimate revenues based on industry and Company specific trends, the historical performance of similar films, the star power of the lead actors, and the genre of the film. Prior to the release of a feature film and throughout its life, we revise our estimates of revenues based on expected future results, actual results and other known factors affecting the various distribution markets. The most sensitive factor affecting our estimates of ultimate revenue for our feature films is home video sales. Home video sales fluctuate based on a variety of factors, including audience demand for our titles, the volume and quality of competing home video products, marketing and promotional strategies, as well as general economic conditions. | ||
Television Production Assets, Net, Policy [Policy Text Block] | ' | |
Television Production Assets, Net — Television production assets consist of several episodic television series we have produced for distribution, either on our recently announced WWE Network or through other distribution platforms. Amounts capitalized include development costs, production costs, post-production costs and related production or post-production overhead. Costs to produce live event programming are expensed when the event is first broadcast. Unamortized television production assets are evaluated for impairment each reporting period. If conditions indicate a potential impairment, and the estimated future cash flows are not sufficient to recover the unamortized asset, the asset is written down to fair value. In addition, if we determine that a program will not likely air, we will write-off the remaining unamortized asset. | ||
Valuation of Long-Lived Assets, Policy [Policy Text Block] | ' | |
Valuation of Long-Lived Assets — We periodically evaluate the carrying amount of long-lived assets when events and circumstances warrant such a review. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income Taxes — Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been reflected in the consolidated financial statements. Amounts are determined based on the differences between the book and tax bases of particular assets and liabilities and operating loss carry forwards, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to offset deferred tax assets if, based upon the available | ||
2. Summary of Significant Accounting Policies (continued) | ||
evidence, including consideration of tax planning strategies, it is more-likely-than-not that some or all of the deferred tax assets will not be realized. | ||
We use a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more likely than not sustainable, based solely on their technical merits, upon examination, and including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position, as the largest amount that we believe is more likely than not realizable. Differences between the amount of tax benefits taken or expected to be taken in our income tax returns and the amount of tax benefits recognized in our financial statements represent our unrecognized income tax benefits, which we record as a liability. Our policy is to include interest and penalties related to unrecognized income tax benefits as a component of income tax expense. | ||
Revenue Recognition, Policy [Policy Text Block] | ' | |
Revenue Recognition — Revenues are generally recognized when products are shipped or as services are performed. However, due to the nature of several of our business lines, there are additional steps in the revenue recognition process, as described below. | ||
• | Pay-per-view programming: | |
Revenues from our pay-per-view programming are recorded when the event is aired and are based upon our initial estimate of the number of buys achieved. This initial estimate is based on preliminary buy information received from our pay-per-view distributors. Final reconciliation of the pay-per-view buys generally occurs within one year and any subsequent adjustments to the buys are recognized in the period new information is received. | ||
• | Sponsorships: | |
Through our sponsorship packages, we offer advertisers a full range of our promotional vehicles, including online and print advertising, on-air announcements and special appearances by our Superstars. We allocate revenue to all deliverables contained within a sponsorship arrangement based upon their relative selling price. In most instances, we determine relative selling price used for allocating revenue to a specific deliverable using vendor specific objective evidence ("VSOE"). VSOE is the selling price that a vendor charges when it sells similar products or services on a stand-alone basis. After allocating revenue to each deliverable, we recognize revenue from our sponsorship arrangements when each element is delivered. | ||
• | Licensing: | |
Revenues from our licensed products are recognized upon receipt of reports from the individual licensees that detail the royalties generated by related product sales. If we receive licensing advances, such payments are recorded as deferred revenue and are recognized as income when earned. | ||
• | Home entertainment: | |
Revenues from the sales of home video titles are recorded net of an allowance for estimated returns, at the later of delivery by our distributor to retailers, or the date that these products are made widely available for sale by retailers. The allowance for estimated returns is based on historical information, current industry trends and demand for our titles. | ||
• | Magazine publishing: | |
Publishing newsstand revenues are recorded when the magazine is shipped, net of an allowance for estimated returns. We estimate the allowance for newsstand returns based upon our review of historical return rates and the expected performance of our current titles in relation to prior issue return rates. | ||
• | TV rights: | |
Rights fees received from distributors of our television programming, both domestically and internationally, are recorded when the program has been delivered to the distributor and is available for exhibition. Our typical distribution agreement is between one and five years in length and frequently provides for contractual increases over its term. Expenses incurred in the production of our weekly television programming are expensed when the programming is first available for exhibition. | ||
2. Summary of Significant Accounting Policies (continued) | ||
• | Films: | |
Revenue recognition for our feature films varies depending on the method of distribution and the extent of control the Company exercises over the distribution and related expenses. We exercise significant control over our self-distributed films and as a result, we record distribution revenue and related expenses on a gross basis in our financial statements. Third-party distribution partners control the distribution and marketing of our licensed films, and as a result, we recognize revenue on a net basis after the third-party distributor recoups distribution fees and expenses and results have been reported to us. This typically occurs in periods subsequent to the initial release of the film. Revenues generated from our films through the various distribution channels, including home video, video-on-demand and television are recognized consistent with the policies described above. | ||
Film and Television Production Incentives, Policy [Policy Text Block] | ' | |
Film and Television Production Incentives — The Company has access to various governmental programs that are designed to promote film and television production within the United States and certain international jurisdictions. Tax credits earned with respect to expenditures on qualifying film, television and other production activities, including qualifying capital projects, are included as an offset to the related asset or as an offset to production expenses when we have reasonable assurance regarding the realizable amount of the tax credits. | ||
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | ' | |
Advertising Expense — Advertising costs are expensed as incurred, except for costs related to the development of a major commercial or media campaign which are expensed in the period in which the commercial or campaign is first presented. For the years ended December 31, 2013, 2012 and 2011, we recorded advertising expenses of $3,819, $3,934 and $4,014, respectively. | ||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |
Foreign Currency Translation — For the translation of the financial statements of our foreign subsidiaries whose functional currencies are not U.S. Dollars, assets and liabilities are translated at the year-end exchange rate, and income statement accounts are translated at monthly average exchange rates for the year. The resulting translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity and also in comprehensive income. Foreign currency transactions are recorded at the exchange rate prevailing at the transaction date, with any gains/losses recorded in other income/expense. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |
Stock-Based Compensation — Equity awards are granted to directors, officers and employees of the Company. | ||
Stock-based compensation costs associated with our restricted stock units ("RSUs") are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. RSUs typically have a three year service requirement and vest in equal annual installments. | ||
Stock-based compensation costs associated with our performance stock units ("PSUs") are initially determined using the fair market value of the Company's common stock on the date the awards are approved by our Compensation Committee (service inception date). The vesting of these PSUs are subject to certain performance conditions and a service requirement of three and one half years. Until such time as the performance conditions are met, stock compensation costs associated with these PSUs are re-measured each reporting period based upon the fair market value of the Company's common stock and the probability of attainment on the reporting date. The ultimate number of PSUs that are issued to an employee is the result of the actual performance of the Company at the end of the performance period compared to the performance conditions. Stock compensation costs for our PSUs are recognized, net of estimated forfeitures, over the requisite service period using the graded vesting method. | ||
We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ or as forfeitures occur. | ||
Earnings Per Share, Policy [Policy Text Block] | ' | |
Earnings Per Share (EPS) — Basic EPS is calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average common shares outstanding during the period, plus dilutive potential common shares which is calculated using the treasury-stock method. Under the treasury-stock method, potential common shares are excluded from the computation of EPS in periods in which they have an anti-dilutive effect. | ||
2. Summary of Significant Accounting Policies (continued) | ||
Net income per share of Class A and Class B common stock is computed in accordance with a two-class method of earnings allocation. As such, any undistributed earnings for each period are allocated to each class of common stock based on the proportionate share of cash dividends that each class is entitled to receive. The Company did not compute earnings per share using the two class method for the years ended December 31, 2013, 2012 and 2011, as there were no undistributed earnings during the periods. Also, during 2013 and 2012, the dividends paid per share of Class A and Class B common stock were the same. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||
For purposes of calculating basic and diluted earnings per share, we used the following weighted average common shares outstanding (in thousands): | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic | 74,939 | 74,595 | 74,212 | |||||||
Diluted | 75,379 | 74,981 | 74,858 | |||||||
Dilutive effect of restricted and performance stock units | 438 | 379 | 637 | |||||||
Dilutive effect of employee share purchase plan | 2 | 7 | 9 | |||||||
Anti-dilutive outstanding options (excluded from per-share calculations) | — | 2 | 72 | |||||||
Anti-dilutive outstanding restricted and performance stock units (excluded from per-share calculations) | 395 | — | — | |||||||
Investment_Securities_and_Shor1
Investment Securities and Short-Term Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||
Investment Securities and Short-Term Investments | ' | |||||||||||||||||||||||||||||||
Short-term investments measured at fair value consisted of the following: | ||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||
Amortized | Gain | (Loss) | Fair | Amortized | Gain | (Loss) | Fair | |||||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||||||||
Municipal bonds | $ | 44,636 | $ | 176 | $ | (91 | ) | $ | 44,721 | $ | 68,517 | $ | 566 | $ | (84 | ) | $ | 68,999 | ||||||||||||||
Corporate bonds | 31,825 | 104 | (174 | ) | 31,755 | 17,182 | 145 | — | 17,327 | |||||||||||||||||||||||
Total | $ | 76,461 | $ | 280 | $ | (265 | ) | $ | 76,476 | $ | 85,699 | $ | 711 | $ | (84 | ) | $ | 86,326 | ||||||||||||||
The following table summarizes the short-term investment activity: | ||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Proceeds from sale of short-term investments | $ | 2,793 | $ | 16,486 | $ | 15,656 | ||||||||||||||||||||||||||
Proceeds from maturities and calls of short-term investments | $ | 41,525 | $ | 28,705 | $ | 27,670 | ||||||||||||||||||||||||||
Gross realized gains on sale of short-term investments | $ | 1 | $ | 196 | $ | 142 | ||||||||||||||||||||||||||
Schedule of Contractual Maturities Period for Investment Securities [Table Text Block] | ' | |||||||||||||||||||||||||||||||
As of December 31, 2013, contractual maturities of these bonds are as follows: | ||||||||||||||||||||||||||||||||
Maturities | ||||||||||||||||||||||||||||||||
Municipal bonds | 1 month - 9 years | |||||||||||||||||||||||||||||||
Corporate bonds | 6 months - 4 years |
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis | ' | ||||||||||||||||||||||||||||||||
The following assets are required to be measured at fair value on a recurring basis and the classification within the hierarchy was as follows: | |||||||||||||||||||||||||||||||||
Fair Value at December 31, 2013 | Fair Value at December 31, 2012 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Municipal bonds | $ | 44,721 | $ | — | $ | 44,721 | $ | — | $ | 68,999 | $ | — | $ | 68,999 | $ | — | |||||||||||||||||
Corporate bonds | 31,755 | — | 31,755 | — | 17,327 | — | 17,327 | — | |||||||||||||||||||||||||
Total | $ | 76,476 | $ | — | $ | 76,476 | $ | — | $ | 86,326 | $ | — | $ | 86,326 | $ | — | |||||||||||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
Property and equipment consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Land, buildings and improvements | $ | 106,749 | $ | 97,551 | |||||
Equipment | 107,305 | 93,316 | |||||||
Corporate aircraft | 51,757 | 20,858 | |||||||
Vehicles | 244 | 1,474 | |||||||
266,055 | 213,199 | ||||||||
Less accumulated depreciation and amortization | (132,575 | ) | (111,037 | ) | |||||
Total | $ | 133,480 | $ | 102,162 | |||||
Feature_Film_Production_Assets1
Feature Film Production Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Feature Film Production Assets [Abstract] | ' | ||||||||
Schedule of Feature Film Production Assets | ' | ||||||||
Feature film production assets consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Feature film productions: | |||||||||
In release | $ | 9,413 | $ | 13,238 | |||||
Completed but not released | 3,130 | 7,849 | |||||||
In production | 2,686 | 1,977 | |||||||
In development | 789 | 627 | |||||||
Total | $ | 16,018 | $ | 23,691 | |||||
Accounts_Payable_and_Accrued_E1
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities | ' | ||||||||
Accounts payable and accrued expenses consisted of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
Trade related | $ | 8,565 | $ | 7,364 | |||||
Payroll and related benefits | 11,291 | 16,099 | |||||||
Talent related | 6,304 | 9,805 | |||||||
Accrued event and television production | 4,429 | 5,122 | |||||||
Accrued home entertainment expenses | 1,341 | 1,989 | |||||||
Accrued legal and professional | 1,903 | 1,243 | |||||||
Accrued purchases of property and equipment and other assets | 1,700 | 1,415 | |||||||
Accrued film liability | 2,654 | 572 | |||||||
Accrued other | 9,695 | 5,345 | |||||||
Total | $ | 47,882 | $ | 48,954 | |||||
Debt_Debt_Repayment_Schedule_T
Debt Debt Repayment Schedule (Tables) | 12 Months Ended |
Dec. 31, 2013 | |
Debt Repayment Schedule [Abstract] | ' |
Schedule of Maturities of Long-term Debt [Table Text Block] | ' |
10. Debt (continued) | |
As of December 31, 2013, the scheduled principal repayments under our Note obligation for the subsequent five years and the remaining term of the note thereafter are as foll |
Income_Taxes_Statement_of_Inco
Income Taxes Statement of Income, Domestic and Foreign (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Statement of Income, Domestic and Foreign [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
The components of our tax provision are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | 2,933 | $ | 4,825 | $ | 16,674 | |||||||
State and local | 162 | 66 | 2,180 | ||||||||||
Foreign | 166 | 178 | (381 | ) | |||||||||
Deferred: | |||||||||||||
Federal | (725 | ) | 6,150 | (5,687 | ) | ||||||||
State and local | (680 | ) | 34 | (737 | ) | ||||||||
Foreign | (17 | ) | (1 | ) | — | ||||||||
Total | $ | 1,839 | $ | 11,252 | $ | 12,049 | |||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||
Components of income before income taxes are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 4,011 | $ | 42,397 | $ | 36,764 | |||||||
International subsidiaries | 592 | 287 | 117 | ||||||||||
Income before income taxes | $ | 4,603 | $ | 42,684 | $ | 36,881 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
The following sets forth the difference between the provision for income taxes computed at the U.S. federal statutory income tax rate of 35% and that reported for financial statement purposes: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory U.S. federal tax at 35% | $ | 1,611 | $ | 14,939 | $ | 12,908 | |||||||
State and local taxes, net of federal benefit | 94 | 1,297 | 723 | ||||||||||
Foreign rate differential | (21 | ) | (32 | ) | 562 | ||||||||
Tax exempt interest income | (341 | ) | (492 | ) | (574 | ) | |||||||
Qualified production activity deduction | (94 | ) | (854 | ) | (1,450 | ) | |||||||
Unrecognized tax benefits | (278 | ) | (3,827 | ) | 40 | ||||||||
Meals and entertainment | 257 | 198 | 113 | ||||||||||
Employee Stock Purchase Plan | 133 | 41 | (17 | ) | |||||||||
Property and equipment depreciation | 635 | — | — | ||||||||||
Other | (157 | ) | (18 | ) | (256 | ) | |||||||
Provision for income taxes | $ | 1,839 | $ | 11,252 | $ | 12,049 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities consisted of the following: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accounts receivable | $ | 1,070 | $ | 2,302 | |||||||||
Inventory | 4,768 | 4,640 | |||||||||||
Prepaid royalties | 5,878 | 7,045 | |||||||||||
Stock options/stock compensation | 1,969 | 1,235 | |||||||||||
Net operating loss carryforwards | 1,512 | 1,618 | |||||||||||
Investments | 3 | — | |||||||||||
Intangible assets | 2,768 | 2,584 | |||||||||||
Accrued liabilities and reserves | 519 | 411 | |||||||||||
Federal benefit related to uncertain tax positions | 709 | 864 | |||||||||||
Deferred tax assets, gross | 19,196 | 20,699 | |||||||||||
Valuation allowance | (1,512 | ) | (1,616 | ) | |||||||||
Deferred tax assets, net | 17,684 | 19,083 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment depreciation | (5,174 | ) | (7,825 | ) | |||||||||
Capitalized feature film production costs | (2,951 | ) | (2,894 | ) | |||||||||
Investments | (3 | ) | (230 | ) | |||||||||
Deferred tax liabilities | (8,128 | ) | (10,949 | ) | |||||||||
Total deferred tax assets, net | $ | 9,556 | $ | 8,134 | |||||||||
ScheduleofUnrecognizedTaxBenefits [Table Text Block] | ' | ||||||||||||
Unrecognized tax benefit activity is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning Balance- January 1 | $ | 2,128 | $ | 10,733 | $ | 10,083 | |||||||
Increase to unrecognized tax benefits recorded for positions taken during the current year | 108 | 307 | 1,226 | ||||||||||
(Decrease) Increase to unrecognized tax benefits recorded for positions taken during a prior period | (3 | ) | (2,591 | ) | 470 | ||||||||
Decrease in unrecognized tax benefits relating to settlements with taxing authorities | (28 | ) | (5,793 | ) | (242 | ) | |||||||
Decrease to unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | (419 | ) | (528 | ) | (804 | ) | |||||||
Ending Balance- December 31 | $ | 1,786 | $ | 2,128 | $ | 10,733 | |||||||
Film_and_Television_Production1
Film and Television Production Incentives Film and Television Production Incentive Table (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Industries [Abstract] | ' | ||||||||||||
Schedule of Feature Film Production Assets [Table Text Block] | ' | ||||||||||||
Film and television production incentives received consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Feature film production incentives | $ | 864 | $ | 1,851 | $ | 6,067 | |||||||
Television production incentives | 10,345 | 7,979 | 6,565 | ||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies Future Minimum Payments Commitment Table (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||||||||||
Future minimum payments as of December 31, 2013 under the agreements described above were as follows: | |||||||||||||||||
Operating | Talent and Other | Service Agreement Commitments | Total | ||||||||||||||
Lease | Commitments | ||||||||||||||||
Commitments | |||||||||||||||||
2014 | $ | 3,866 | $ | 14,970 | $ | 7,637 | $ | 26,473 | |||||||||
2015 | 2,732 | 9,688 | — | 12,420 | |||||||||||||
2016 | 2,413 | 8,251 | — | 10,664 | |||||||||||||
2017 | 1,605 | 7,131 | — | 8,736 | |||||||||||||
2018 | 1,357 | 1,513 | — | 2,870 | |||||||||||||
Thereafter | 3,257 | 3,748 | — | 7,005 | |||||||||||||
Total | $ | 15,230 | $ | 45,301 | $ | 7,637 | $ | 68,168 | |||||||||
Stock_Based_Compensation_Restr
Stock Based Compensation Restricted Stock Units Table (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | ||||||||||
Granted | 51,977 | $ | 9.91 | ||||||||||
Vested | (64,357 | ) | $ | 10.2 | |||||||||
Forfeited | (32,550 | ) | $ | 9.04 | |||||||||
Dividend Equivalents | 5,789 | $ | 9.47 | ||||||||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | ||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
Stock-based Compensation | |||||||||||||
The 2007 Omnibus Incentive Plan (the "2007 Plan") provides for equity-based incentive awards as determined by the compensation committee of the Board of Directors as incentives and rewards to encourage officers and employees to participate in our long-term success. In 2004, we began issuing RSUs, which typically have a three year service requirement and vest in equal annual installments. In 2007, we began issuing PSUs in addition to RSUs, which are subject to certain performance conditions and generally vest ratably over three and one-half years. | |||||||||||||
As of December 31, 2013, there were approximately 2.3 million shares available for future grants under the 2007 Plan. It is our policy to issue new shares to satisfy option exercises and the vesting of RSUs and PSUs. | |||||||||||||
Stock Options | |||||||||||||
We have not granted any stock options since June 2004. Since December 31, 2012, there are no stock options outstanding and no options were exercised during the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Restricted Stock Units | |||||||||||||
The Company grants RSUs to officers and employees under our 2007 Plan. Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | ||||||||||
Granted | 51,977 | $ | 9.91 | ||||||||||
Vested | (64,357 | ) | $ | 10.2 | |||||||||
Forfeited | (32,550 | ) | $ | 9.04 | |||||||||
Dividend Equivalents | 5,789 | $ | 9.47 | ||||||||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 632 | $ | 1,320 | $ | 370 | |||||||
Tax benefits realized | 621 | 494 | 141 | ||||||||||
Weighted-average grant-date fair value of RSUs granted | 515 | 1,366 | 632 | ||||||||||
Fair value of RSUs vested | 656 | 647 | 1,700 | ||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested RSUs net of estimated forfeitures, was approximately $424, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.3 years. | |||||||||||||
Performance Stock Units | |||||||||||||
Stock-based compensation costs associated with our PSUs are initially determined using the fair market value of the Company's common stock on the date the awards are approved by our Compensation Committee (service inception date) and are granted under our 2007 Plan. The vesting of these PSUs are subject to certain performance conditions and a service requirement of three and one half years. Until such time the performance conditions are met, stock compensation costs associated with these PSUs are re-measured each reporting period based upon the fair market value of the Company's common stock and the probability of attainment on the reporting date. The ultimate number of PSUs that are issued to an employee is the result of the actual performance of the Company at the end of the performance period compared to the performance conditions. Stock compensation costs for our PSUs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. Unvested PSUs accrue dividend equivalents once the performance conditions are met at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying PSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of PSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 685,703 | $ | 8.37 | ||||||||||
Granted | 932,786 | $ | 15.47 | ||||||||||
Vested | (314,008 | ) | $ | 9.35 | |||||||||
Forfeited | (74,318 | ) | $ | 11.81 | |||||||||
Dividend Equivalents | 29,466 | $ | 10.27 | ||||||||||
Unvested at December 31, 2013 | 1,259,629 | $ | 13.46 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 4,489 | $ | 2,440 | $ | 2,378 | |||||||
Tax benefits realized | 3,318 | 2,252 | 904 | ||||||||||
Weighted-average grant-date fair value of PSUs granted | 14,430 | 4,913 | 6,062 | ||||||||||
Fair value of PSUs vested | 2,937 | 4,375 | 5,878 | ||||||||||
During the year ended December 31, 2012, we granted 622,700 PSUs which were subject to performance conditions. During the three months ended March 31, 2013, the certain performance conditions related to these PSUs were met which resulted in us granting 127,890 additional PSU's in 2013 relating to the initial 2012 PSU grant. | |||||||||||||
During the three months ended March 31, 2013, we granted 804,896 PSUs which are subject to certain performance conditions. | |||||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested PSUs, net of estimated forfeitures, was approximately $5,733, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.6 years. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
We provide a stock purchase plan for our employees. Under the plan, all regular full-time employees may contribute up to 10% of their base compensation (subject to certain income limits) to the semi-annual purchase of shares of our common stock. The purchase price is 85% of the fair market value at certain plan-defined dates. As this plan is defined as compensatory, a charge is recorded to Selling, general and administrative expense for the difference between the fair market value and the discounted price. During 2013, 2012 and 2011, employees purchased 76,219, 76,676 and 67,537 shares of our common stock which resulted in an expense of $404, $85, $110, respectively. | |||||||||||||
Restricted Stock Units (RSUs) [Member] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 632 | $ | 1,320 | $ | 370 | |||||||
Tax benefits realized | 621 | 494 | 141 | ||||||||||
Weighted-average grant-date fair value of RSUs granted | 515 | 1,366 | 632 | ||||||||||
Fair value of RSUs vested | 656 | 647 | 1,700 | ||||||||||
Stock_Based_Compensation_Perfo
Stock Based Compensation Performance Stock Unit Table (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
Stock-based Compensation | |||||||||||||
The 2007 Omnibus Incentive Plan (the "2007 Plan") provides for equity-based incentive awards as determined by the compensation committee of the Board of Directors as incentives and rewards to encourage officers and employees to participate in our long-term success. In 2004, we began issuing RSUs, which typically have a three year service requirement and vest in equal annual installments. In 2007, we began issuing PSUs in addition to RSUs, which are subject to certain performance conditions and generally vest ratably over three and one-half years. | |||||||||||||
As of December 31, 2013, there were approximately 2.3 million shares available for future grants under the 2007 Plan. It is our policy to issue new shares to satisfy option exercises and the vesting of RSUs and PSUs. | |||||||||||||
Stock Options | |||||||||||||
We have not granted any stock options since June 2004. Since December 31, 2012, there are no stock options outstanding and no options were exercised during the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Restricted Stock Units | |||||||||||||
The Company grants RSUs to officers and employees under our 2007 Plan. Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | ||||||||||
Granted | 51,977 | $ | 9.91 | ||||||||||
Vested | (64,357 | ) | $ | 10.2 | |||||||||
Forfeited | (32,550 | ) | $ | 9.04 | |||||||||
Dividend Equivalents | 5,789 | $ | 9.47 | ||||||||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 632 | $ | 1,320 | $ | 370 | |||||||
Tax benefits realized | 621 | 494 | 141 | ||||||||||
Weighted-average grant-date fair value of RSUs granted | 515 | 1,366 | 632 | ||||||||||
Fair value of RSUs vested | 656 | 647 | 1,700 | ||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested RSUs net of estimated forfeitures, was approximately $424, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.3 years. | |||||||||||||
Performance Stock Units | |||||||||||||
Stock-based compensation costs associated with our PSUs are initially determined using the fair market value of the Company's common stock on the date the awards are approved by our Compensation Committee (service inception date) and are granted under our 2007 Plan. The vesting of these PSUs are subject to certain performance conditions and a service requirement of three and one half years. Until such time the performance conditions are met, stock compensation costs associated with these PSUs are re-measured each reporting period based upon the fair market value of the Company's common stock and the probability of attainment on the reporting date. The ultimate number of PSUs that are issued to an employee is the result of the actual performance of the Company at the end of the performance period compared to the performance conditions. Stock compensation costs for our PSUs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. Unvested PSUs accrue dividend equivalents once the performance conditions are met at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying PSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of PSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 685,703 | $ | 8.37 | ||||||||||
Granted | 932,786 | $ | 15.47 | ||||||||||
Vested | (314,008 | ) | $ | 9.35 | |||||||||
Forfeited | (74,318 | ) | $ | 11.81 | |||||||||
Dividend Equivalents | 29,466 | $ | 10.27 | ||||||||||
Unvested at December 31, 2013 | 1,259,629 | $ | 13.46 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 4,489 | $ | 2,440 | $ | 2,378 | |||||||
Tax benefits realized | 3,318 | 2,252 | 904 | ||||||||||
Weighted-average grant-date fair value of PSUs granted | 14,430 | 4,913 | 6,062 | ||||||||||
Fair value of PSUs vested | 2,937 | 4,375 | 5,878 | ||||||||||
During the year ended December 31, 2012, we granted 622,700 PSUs which were subject to performance conditions. During the three months ended March 31, 2013, the certain performance conditions related to these PSUs were met which resulted in us granting 127,890 additional PSU's in 2013 relating to the initial 2012 PSU grant. | |||||||||||||
During the three months ended March 31, 2013, we granted 804,896 PSUs which are subject to certain performance conditions. | |||||||||||||
As of December 31, 2013, total unrecognized stock-based compensation expense related to unvested PSUs, net of estimated forfeitures, was approximately $5,733, before income taxes, and is expected to be recognized over a weighted-average period of approximately 1.6 years. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
We provide a stock purchase plan for our employees. Under the plan, all regular full-time employees may contribute up to 10% of their base compensation (subject to certain income limits) to the semi-annual purchase of shares of our common stock. The purchase price is 85% of the fair market value at certain plan-defined dates. As this plan is defined as compensatory, a charge is recorded to Selling, general and administrative expense for the difference between the fair market value and the discounted price. During 2013, 2012 and 2011, employees purchased 76,219, 76,676 and 67,537 shares of our common stock which resulted in an expense of $404, $85, $110, respectively. | |||||||||||||
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | ' | ||||||||||||
The following tables summarize the activity of PSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 685,703 | $ | 8.37 | ||||||||||
Granted | 932,786 | $ | 15.47 | ||||||||||
Vested | (314,008 | ) | $ | 9.35 | |||||||||
Forfeited | (74,318 | ) | $ | 11.81 | |||||||||
Dividend Equivalents | 29,466 | $ | 10.27 | ||||||||||
Unvested at December 31, 2013 | 1,259,629 | $ | 13.46 | ||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | |||||||||||||
16. Stock-based Compensation (continued) | |||||||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | |||||||||||||
Units | Weighted-Average Grant-Date Fair Value | ||||||||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | ||||||||||
Granted | 51,977 | $ | 9.91 | ||||||||||
Vested | (64,357 | ) | $ | 10.2 | |||||||||
Forfeited | (32,550 | ) | $ | 9.04 | |||||||||
Dividend Equivalents | 5,789 | $ | 9.47 | ||||||||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | ||||||||||
Performance Stock Units [Member] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock-based compensation expense | $ | 4,489 | $ | 2,440 | $ | 2,378 | |||||||
Tax benefits realized | 3,318 | 2,252 | 904 | ||||||||||
Weighted-average grant-date fair value of PSUs granted | 14,430 | 4,913 | 6,062 | ||||||||||
Fair value of PSUs vested | 2,937 | 4,375 | 5,878 | ||||||||||
Stock_Based_Compensation_Sched
Stock Based Compensation Schedule of Non-Vest Stock Units Activity Table (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Non-Vested Stock Untis Activity Table [Abstract] | ' | |||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||
Stock-based compensation costs associated with our RSUs are determined using the fair market value of the Company's common stock on the date of the grant. These costs are recognized over the requisite service period using the graded vesting method, net of estimated forfeitures. We estimate forfeitures, based on historical trends, when recognizing compensation expense and adjust the estimate of forfeitures when they are expected to differ. RSUs typically have a three year service requirement and vest in equal annual installments. Unvested RSUs accrue dividend equivalents at the same rate as are paid on our shares of Class A common stock. The dividend equivalents are subject to the same vesting schedule as the underlying RSUs. | ||||||||
16. Stock-based Compensation (continued) | ||||||||
The following tables summarize the activity of RSUs for the year ended December 31, 2013: | ||||||||
Units | Weighted-Average Grant-Date Fair Value | |||||||
Unvested at January 1, 2013 | 146,175 | $ | 9.97 | |||||
Granted | 51,977 | $ | 9.91 | |||||
Vested | (64,357 | ) | $ | 10.2 | ||||
Forfeited | (32,550 | ) | $ | 9.04 | ||||
Dividend Equivalents | 5,789 | $ | 9.47 | |||||
Unvested at December 31, 2013 | 107,034 | $ | 9.87 | |||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | ' | ||||||||||||
18. Segment Information (continued) | |||||||||||||
The following tables present summarized financial information for each of the Company's reportable segments: | |||||||||||||
Reconciliation of Operating Income to OIBDA [Table Text Block] | ' | ||||||||||||
Reconciliation of Total Operating Income to Total OIBDA | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Total operating income | $ | 5,891 | $ | 43,195 | $ | 37,019 | |||||||
Depreciation and amortization | 24,469 | 20,024 | 14,980 | ||||||||||
Total OIBDA | $ | 30,360 | $ | 63,219 | $ | 51,999 | |||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | ||||||||||||
Assets by Segment: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Live and Televised Entertainment | $ | 186,015 | $ | 150,014 | |||||||||
Consumer Products | 12,940 | 13,227 | |||||||||||
Digital Media | 9,187 | 8,854 | |||||||||||
WWE Studios | 18,322 | 27,410 | |||||||||||
Unallocated Corporate and other | 151,998 | 181,878 | |||||||||||
Total assets | $ | 378,462 | $ | 381,383 | |||||||||
Schedule of Capital Spending by Segment [Table Text Block] | ' | ||||||||||||
Capital Spending by Segment: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Live and Televised Entertainment | $ | 31,077 | $ | 3,123 | $ | 5,210 | |||||||
Consumer Products | 225 | 5,188 | 1,793 | ||||||||||
Digital Media | 4,110 | 1,996 | 1,686 | ||||||||||
Corporate and other | 20,518 | 23,583 | 19,267 | ||||||||||
Total purchases of property and equipment and other assets | $ | 55,930 | $ | 33,890 | $ | 27,956 | |||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | ' | ||||||||||||
The information below summarizes net revenues to unaffiliated customers by geographic area: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 391,663 | $ | 365,942 | $ | 350,523 | |||||||
Europe/Middle East/Africa | 72,409 | 70,720 | 76,165 | ||||||||||
Asia Pacific | 37,269 | 37,087 | 38,662 | ||||||||||
Latin America | 6,629 | 10,264 | 18,571 | ||||||||||
Total net revenues | $ | 507,970 | $ | 484,013 | $ | 483,921 | |||||||
Quarterly_Financial_Summaries_
Quarterly Financial Summaries (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
2013 | (1) (3) | (2) | (1) (2) | -1 | |||||||||||||
Net revenues | $ | 124,001 | $ | 152,282 | $ | 113,292 | $ | 118,395 | |||||||||
Cost of revenues | $ | 74,866 | $ | 96,855 | $ | 70,947 | $ | 80,360 | |||||||||
Net income (loss) | $ | 3,034 | $ | 5,182 | $ | 2,439 | $ | (7,891 | ) | ||||||||
Net income (loss) per common share: basic | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.11 | ) | ||||||||
Net income (loss) per common share: diluted | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.10 | ) | ||||||||
2012 | |||||||||||||||||
Net revenues | $ | 123,068 | $ | 141,648 | $ | 104,197 | $ | 115,100 | |||||||||
Cost of revenues | $ | 68,397 | $ | 85,484 | $ | 61,406 | $ | 69,166 | |||||||||
Net income | $ | 15,331 | $ | 11,943 | $ | 3,527 | $ | 631 | |||||||||
Net income per common share: basic | $ | 0.21 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||
Net income per common share: diluted | $ | 0.2 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||
-1 | Cost of revenues for the first and third quarters of 2013 includes impairment charges of $4,696 and $6,965, respectively, related to certain of our feature films. Cost of revenues for the first and fourth quarters of 2012 includes impairment charges of $754 and $475, respectively, related to certain of our feature films. See Note 7. Feature Film Production Assets. | ||||||||||||||||
-2 | Net income for the second and third quarters of 2013 and 2012 includes the benefit of $257, $6,373, and $1,031, $4,143, respectively, relating to incentives received relating to television production. | ||||||||||||||||
-3 | Net income includes a $4,057 tax benefit in the first quarter of 2012 related to previously unrecognized tax benefits. |
Summary_of_Signficant_Accounti2
Summary of Signficant Accounting Policies(Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Advertising Expense | $3,819 | $3,934 | $4,014 |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Denominator: | ' | ' | ' |
Weighted average common shares outstanding - Basic (in shares) | 74,939,000 | 74,595,000 | 74,212,000 |
Weighted average common shares outstanding - Diluted (in shares) | 75,379,000 | 74,981,000 | 74,858,000 |
Earnings Per Share: | ' | ' | ' |
Weigthed Average Number Diluted Shares, Adjustment for Restricted and Performance Stock Units | 438,000 | 379,000 | 637,000 |
Weighted Average Number Diluted Shares, Adjustment for ESPP Plan | 2,000 | 7,000 | 9,000 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 2,000 | 72,000 |
Antidilutive Restricted and Performance Stock Units Excluded from Computation of Earnings Per Share, Amount | 395,000 | 0 | 0 |
Investment_Securities_and_Shor2
Investment Securities and Short-Term Investments (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Amortized Cost | $76,461 | $85,699 |
Available-for-sale Securities, Gross Unrealized Gain | 280 | 711 |
Available-for-sale Securities, Gross Unrealized Loss | -265 | -84 |
Fair Value | 76,476 | 86,326 |
Municipal Bonds [Member] | ' | ' |
Amortized Cost | 44,636 | 68,517 |
Available-for-sale Securities, Gross Unrealized Gain | 176 | 566 |
Available-for-sale Securities, Gross Unrealized Loss | -91 | -84 |
Fair Value | 44,721 | 68,999 |
Corporate Debt Securities [Member] | ' | ' |
Amortized Cost | 31,825 | 17,182 |
Available-for-sale Securities, Gross Unrealized Gain | 104 | 145 |
Available-for-sale Securities, Gross Unrealized Loss | -174 | 0 |
Fair Value | $31,755 | $17,327 |
Investment_Securities_and_Shor3
Investment Securities and Short-Term Investments (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds from Sale of Available-for-sale Securities | $2,793 | $16,486 | $15,656 |
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 41,525 | 28,705 | 27,670 |
Available-for-sale Securities, Gross Realized Gains | $1 | $196 | $142 |
Corporate Debt Securities [Member] | ' | ' | ' |
Minimum Period Contractual Maturities Of Investments | '6 months | ' | ' |
Maximum Period Contractual Maturities Of Investments | '4 years | ' | ' |
Municipal Bonds [Member] | ' | ' | ' |
Minimum Period Contractual Maturities Of Investments | '1 month | ' | ' |
Maximum Period Contractual Maturities Of Investments | '9 years | ' | ' |
Investment_Securities_and_Shor4
Investment Securities and Short-Term Investments (Detail Textuals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Cost-method Investments [Line Items] | ' | ' | ' |
Long-term Investments | $8,299 | $5,220 | ' |
Proceeds from Sale of Available-for-sale Securities | 2,793 | 16,486 | 15,656 |
Proceeds from Sale of Other Investments | ' | ' | 1,822 |
Available-for-sale Securities, Gross Realized Gains | 1 | 196 | 142 |
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 41,525 | 28,705 | 27,670 |
Available-for-sale Securities, Gross Unrealized Losses | -265 | -84 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 280 | 711 | ' |
Tout Industries [Member] | ' | ' | ' |
Schedule of Cost-method Investments [Line Items] | ' | ' | ' |
Cost Method Investments | ' | 5,000 | ' |
Incremental Cost Method Investment | 879 | 220 | ' |
Other Investment Companies [Member] | ' | ' | ' |
Schedule of Cost-method Investments [Line Items] | ' | ' | ' |
Cost Method Investments | $2,200 | ' | ' |
Fair_Value_Measurement_Details
Fair Value Measurement (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available-for-sale Securities, Fair Value Disclosure | $76,476 | $86,326 | ' |
Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities | 41,525 | 28,705 | 27,670 |
Municipal Bonds [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 44,721 | 68,999 | ' |
Corporate Debt Securities [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 31,755 | 17,327 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 76,476 | 86,326 | ' |
Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 44,721 | 68,999 | ' |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 31,755 | 17,327 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | $0 | $0 | ' |
Fair_Value_Measurement_Details1
Fair Value Measurement (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds from Sale of Available-for-sale Securities | ($41,525) | ($28,705) | ($27,670) |
Fair_Value_Measurement_Detail_
Fair Value Measurement (Detail Textuals) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Rate | |||||||
Asset Impairment Charges | $6,965 | $4,696 | $475 | $754 | $11,661 | $1,229 | $23,414 |
Fair Value Of Film Production Assets | ' | ' | $1,657 | ' | $2,363 | $1,657 | $21,186 |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | 13.00% | ' | ' |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Land, buildings and improvements | $106,749 | $97,551 |
Equipment | 107,305 | 93,316 |
Corporate aircraft | 51,757 | 20,858 |
Vehicles | 244 | 1,474 |
Property, Plant and Equipment, Gross | 266,055 | 213,199 |
Less accumulated depreciation | -132,575 | -111,037 |
Total | $133,480 | $102,162 |
Property_and_Equipment_Detail_
Property and Equipment (Detail Textuals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Purchase of Corporate Aircraft | ($30,898) | $0 | $0 |
Depreciation | $22,906 | $19,151 | $14,520 |
Feature_Film_Production_Assets2
Feature Film Production Assets (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Feature film productions: | ' | ' | ' | ' | ' | ' | ' |
Theatrical Film Costs, Released | ' | ' | $13,238 | ' | $9,413 | $13,238 | ' |
Theatrical Film Costs, Completed and Not Released | ' | ' | 7,849 | ' | 3,130 | 7,849 | ' |
Theatrical Film Costs, Production | ' | ' | 1,977 | ' | 2,686 | 1,977 | ' |
Theatrical Film Costs, Development | ' | ' | 627 | ' | 789 | 627 | ' |
Total | ' | ' | 23,691 | ' | 16,018 | 23,691 | ' |
Asset Impairment Charges | $6,965 | $4,696 | $475 | $754 | $11,661 | $1,229 | $23,414 |
Feature_Film_Production_Assets3
Feature Film Production Assets (Detail Textuals) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Feature Film Production Assets [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Asset Impairment Charges | $6,965 | $4,696 | $475 | $754 | $11,661 | $1,229 | $23,414 |
Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Future Amortization Expense, Percentage, Within Twelve Months | ' | ' | ' | ' | 48.00% | ' | ' |
Future Amortization Expense, Percentage, One Through Three Years | ' | ' | ' | ' | 78.00% | ' | ' |
Future Amortization Expense, Percentage, One Through Four Years | ' | ' | ' | ' | 80.00% | ' | ' |
Theatrical Film Costs, Released | ' | ' | 13,238 | ' | 9,413 | 13,238 | ' |
Cost of Theatrical Film Development (in dollars) | ' | ' | ' | ' | ' | 1,045 | 728 |
Four Films Released [Member] | ' | ' | ' | ' | ' | ' | ' |
Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Theatrical Film Costs, Released | ' | ' | ' | ' | 2,446 | ' | ' |
Two Films Released [Member] | ' | ' | ' | ' | ' | ' | ' |
Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Theatrical Film Costs, Released | ' | ' | $128 | ' | $2,808 | $128 | ' |
Television_Production_Assets_D
Television Production Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Television Production Assets [Member] | ||
Amortization | ' | ' | $7,012 |
Television Production Assets | $10,772 | $6,331 | ' |
Accounts_Payable_and_Accrued_E2
Accounts Payable and Accrued Expenses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Trade related | $8,565 | $7,364 |
Payroll and related benefits | 11,291 | 16,099 |
Talent related | 6,304 | 9,805 |
Accrued event and television production | 4,429 | 5,122 |
Accrued home video liability | 1,341 | 1,989 |
Accrued legal and professional | 1,903 | 1,243 |
Accrued purchases of property and equipment | 1,700 | 1,415 |
Accrued film liability | 2,654 | 572 |
Accrued other | 9,695 | 5,345 |
Total | $47,882 | $48,954 |
Accounts_Payable_and_Accrued_E3
Accounts Payable and Accrued Expenses (Detail Textuals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable, Trade, Current | $8,565 | $7,364 |
Employee-related Liabilities, Current | 11,291 | 16,099 |
Accrued Talent Related Costs | $6,304 | $9,805 |
Maximum [Member] | ' | ' |
Less than Five Percent of Current Liabilities | 5.00% | ' |
Debt_Detail_Textuals
Debt (Detail Textuals) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Long-term Line of Credit, Noncurrent (in dollars) | $200,000 |
Line of Credit Facility, Interest Rate at Period End | 2.00% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.38% |
Debt Instrument, Unused Borrowing Capacity, Amount | 83,000 |
Debt Instrument, Face Amount | 31,568 |
Debt Instrument, Covenant Description | 'consolidated leverage ratio (as calculated under the revolving credit facility) exceeds 2.8:1.0 or if our consolidated fixed charge coverage ratio (as calculated under the revolving credit facility) does not exceed 1.25:1.0. |
Debt Instrument, Interest Rate, Stated Percentage | 2.18% |
Debt Instrument, Periodic Payment | 406 |
Leverage Ratio | 2,500 |
Fixed Coverage Ratio | 1,250 |
Long-term Debt | 29,636 |
Note Payable, Remaining Borrowing Capacity | $535 |
Debt_Debt_Repayment_Schedule_D
Debt Debt Repayment Schedule (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $4,251 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 4,345 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 4,440 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 4,538 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 4,638 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 7,424 |
Long-term Debt, Total Repayments of Principal | $29,636 |
Income_Taxes_Detail_Textuals
Income Taxes (Detail Textuals) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Tax Benefit from Stock Options and Stock Units Exercised | $3,939 | $2,747 | $4,908 | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | ' | ' | ' |
Income Tax Examination, Interest Accrued | 453 | 502 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 171 | 214 | ' | ' |
Deferred Tax Assets, Net, Current | 12,237 | 14,403 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 32 | 1,520 | ' | ' |
Effective Income Tax Rate, Continuing Operations | 39.90% | 26.40% | 32.70% | ' |
Unrecognized Tax Benefits | 1,786 | 2,128 | 10,733 | 10,083 |
Deferred Tax Liabilities, Noncurrent | 16,147 | 15,269 | ' | ' |
Deferred Tax Liabilities, Noncurrent | 4,884 | 9,092 | ' | ' |
Unrecognized Tax Benefits Period Estimated Increase Decrease | 890 | ' | ' | ' |
Income Tax Expense (Benefit) | 1,839 | 11,252 | 12,049 | ' |
Deferred Tax Assets, Net, Noncurrent | 2,681 | 6,269 | ' | ' |
Deferred Tax Assets, Valuation Allowance | -1,512 | -1,616 | ' | ' |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability | 4,432 | ' | ' | ' |
Unrecognized Tax Benefit Realized | 330 | 4,352 | ' | ' |
Unrecognized Tax Benefits [Member] | ' | ' | ' | ' |
Deferred Tax Liabilities, Noncurrent | ' | 174 | ' | ' |
Deferred Tax Liabilities, Noncurrent | ' | 1,612 | ' | ' |
Non Current Income Tax Liabilities [Member] | ' | ' | ' | ' |
Income Tax Examination, Interest Accrued | 591 | 696 | ' | ' |
Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' | ' |
Income Tax Examination, Interest Accrued | $33 | $20 | ' | ' |
Income_Taxes_Components_of_Tax
Income Taxes Components of Tax Provision - Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $1,611 | $14,939 | $12,908 |
Income Tax Reconciliation, State and Local Income Taxes | 2,933 | 4,825 | 16,674 |
Current State and Local Tax Expense (Benefit) | 162 | 66 | 2,180 |
Current Foreign Tax Expense (Benefit) | 166 | 178 | -381 |
Deferred Federal Income Tax Expense (Benefit) | -725 | 6,150 | -5,687 |
Deferred State and Local Income Tax Expense (Benefit) | -680 | 34 | -737 |
Deferred Foreign Income Tax Expense (Benefit) | -17 | -1 | 0 |
Income Tax Expense (Benefit) | 1,839 | 11,252 | 12,049 |
Income Tax Reconciliation, State and Local Income Taxes | 94 | 1,297 | 723 |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | -21 | -32 | 562 |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | -341 | -492 | -574 |
Income Tax Reconciliaton, Qualified Production Activity Deduction | -94 | -854 | -1,450 |
Income Tax Reconciliaton, Unrecognized Tax Benefits | -278 | -3,827 | 40 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Meals and Entertainment, Amount | 257 | 198 | 113 |
Income Tax Reconciliation Employee Stock Purchase Plan | 133 | 41 | -17 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Amount | 635 | 0 | 0 |
Income Tax Reconciliation, Other Adjustments | ($157) | ($18) | ($256) |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Before Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $4,603 | $42,684 | $36,881 |
Domestic Country [Member] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 4,011 | 42,397 | 36,764 |
Foreign Country [Member] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | $592 | $287 | $117 |
Income_Taxes_Tax_Effect_of_Tem
Income Taxes Tax Effect of Temporary Differences - Table (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Asset- Accounts Receivable | $1,070 | $2,302 |
Deferred Tax Assets, Inventory | 4,768 | 4,640 |
Deferred Tax Assets, Operating Loss Carryforwards | 1,512 | 1,618 |
Deferred Tax Assets, Gross | 19,196 | 20,699 |
Deferred Tax Assets, Valuation Allowance | -1,512 | -1,616 |
Deferred Tax Assets, Net | 17,684 | 19,083 |
Deferred Tax Liabilities | -8,128 | -10,949 |
Deferred Tax Assets (Liabilities), Net | 9,556 | 8,134 |
Deferred Tax Asset-Prepaid Royalties | 5,878 | 7,045 |
Deferred Tax Asset-Stock Options, Stock Compensation | 1,969 | 1,235 |
Deferred Tax Assets-Investments | 3 | 0 |
Deferred Tax Asset-Intangible Assets | 2,768 | 2,584 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 519 | 411 |
Deferred Tax Asset-Federal benefit related to uncertain tax positions | 709 | 864 |
Deferred Tax Liability-Property and Equipment Depreciaton | -5,174 | -7,825 |
Deferred Tax Liability-Capitalized feature film production costs | -2,951 | -2,894 |
Deferred Tax Liabilities, Investments | ($3) | ($230) |
Income_Taxes_Unrecognized_Tax_
Income Taxes Unrecognized Tax Benefits - Reconciliation Table (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Unrecognized Tax Benefits, Period Increase (Decrease) | $108 | $307 | $1,226 | ' |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | -3 | -2,591 | 470 | ' |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -28 | -5,793 | -242 | ' |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | -419 | -528 | -804 | ' |
Unrecognized Tax Benefits | $1,786 | $2,128 | $10,733 | $10,083 |
Income_Taxes_Income_Tax_Reconc
Income Taxes Income Tax Reconciliation Federal versus Financial Statements- Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $1,611 | $14,939 | $12,908 |
Income Tax Reconciliation, State and Local Income Taxes | 94 | 1,297 | 723 |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | -21 | -32 | 562 |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | -341 | -492 | -574 |
Income Tax Reconciliaton, Qualified Production Activity Deduction | -94 | -854 | -1,450 |
Income Tax Reconciliaton, Unrecognized Tax Benefits | -278 | -3,827 | 40 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Meals and Entertainment, Amount | 257 | 198 | 113 |
Income Tax Reconciliation Employee Stock Purchase Plan | 133 | 41 | -17 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Amount | 635 | 0 | 0 |
Income Tax Reconciliation, Other Adjustments | -157 | -18 | -256 |
Income Tax Expense (Benefit) | $1,839 | $11,252 | $12,049 |
Income_Taxes_Tax_Effect_Deferr
Income Taxes Tax Effect - Deferred Tax Assets and Tax Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Asset- Accounts Receivable | $1,070 | $2,302 |
Deferred Tax Assets, Inventory | 4,768 | 4,640 |
Deferred Tax Asset-Prepaid Royalties | 5,878 | 7,045 |
Deferred Tax Assets, Operating Loss Carryforwards | 1,512 | 1,618 |
Deferred Tax Assets-Investments | 3 | 0 |
Deferred Tax Asset-Intangible Assets | 2,768 | 2,584 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 519 | 411 |
Deferred Tax Asset-Federal benefit related to uncertain tax positions | 709 | 864 |
Deferred Tax Assets, Gross | 19,196 | 20,699 |
Deferred Tax Assets, Valuation Allowance | -1,512 | -1,616 |
Deferred Tax Assets, Net | 17,684 | 19,083 |
Deferred Tax Liability-Property and Equipment Depreciaton | -5,174 | -7,825 |
Deferred Tax Liabilities | -8,128 | -10,949 |
Deferred Tax Assets (Liabilities), Net | 9,556 | 8,134 |
Deferred Tax Asset-Stock Options, Stock Compensation | 1,969 | 1,235 |
Deferred Tax Liability-Capitalized feature film production costs | -2,951 | -2,894 |
Deferred Tax Liabilities, Investments | ($3) | ($230) |
Film_and_Television_Production2
Film and Television Production Incentives (Detail Textuals) (USD $) | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||
Film and Television Production Incentives [Text Block] | ' | ' | ' | ||||||||||||
Film and Television Production Incentives | |||||||||||||||
The Company has access to various governmental programs that are designed to promote film and television production within the United States and certain international jurisdictions. Incentives earned with respect to expenditures on qualifying film, television and other production activities, including qualifying capital projects, are included as an offset to the related asset or as an offset to production expenses when we have reasonable assurance regarding the realizable amount of the incentives. Film and television production incentives received consisted of the following: | |||||||||||||||
Year Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Feature film production incentives | $ | 864 | $ | 1,851 | $ | 6,067 | |||||||||
Television production incentives | 10,345 | 7,979 | 6,565 | ||||||||||||
Film Production Incentives | $864 | $1,851 | $6,067 | ||||||||||||
Television Production Incentives | $10,345 | $7,979 | $6,565 |
Commitments_and_Contingencies_1
Commitments and Contingencies Future Minimum Commitments Payment Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $3,866 | ' | ' |
Other Commitment, Due in Next Twelve Months | 14,970 | ' | ' |
Service Agreement Commitments, Repayment in next Twelve Months | 7,637 | ' | ' |
Contractual Obligation, Due in Next Twelve Months | 26,473 | ' | ' |
Operating Leases, Future Minimum Payments Due | 15,230 | ' | ' |
Other Commitment | 45,301 | ' | ' |
Service Agreement Commitments, Repayments | 7,637 | ' | ' |
Commitments and Contingencies | 68,168 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 3,257 | ' | ' |
Other Commitment, Due after Fifth Year | 3,748 | ' | ' |
Service Agreement Commitments, Repayment Due after Fifth Year | 0 | ' | ' |
Contractual Obligation, Due after Fifth Year | 7,005 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,357 | ' | ' |
Other Commitment, Due in Fifth Year | 1,513 | ' | ' |
Service Agreement Commitments, Repayment in Fifth Year | 0 | ' | ' |
Contractual Obligation, Due in Fifth Year | 2,870 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 1,605 | ' | ' |
Other Commitment, Due in Fourth Year | 7,131 | ' | ' |
Service Agreement Commitments, Repayment in Year Four | 0 | ' | ' |
Contractual Obligation, Due in Fourth Year | 8,736 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 2,413 | ' | ' |
Other Commitment, Due in Third Year | 8,251 | ' | ' |
Service Agreement Commitments, Repayment in Year Three | 0 | ' | ' |
Contractual Obligation, Due in Third Year | 10,664 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,732 | ' | ' |
Other Commitment, Due in Second Year | 9,688 | ' | ' |
Service Agreement Commitments Repayment in Second Year | 0 | ' | ' |
Contractual Obligation, Due in Second Year | 12,420 | ' | ' |
Operating Leases, Rent Expense | $5,405 | $4,608 | $2,847 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 39 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2011 |
Related Party Transaction [Line Items] | ' | ' | ' |
Common Stock Dividends Per Share Expired | ' | ' | $0.24 |
Related Party Transaction, Revenues from Transactions with Related Party | $4 | $3 | ' |
Common Class A [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Authorized Quarterly Cash Dividends Per Share | ' | ' | $0.36 |
Stockholders_Equity_Detail_Tex
Stockholders' Equity (Detail Textuals) (USD $) | 12 Months Ended | 39 Months Ended | 12 Months Ended | 39 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2011 | Dec. 31, 2011 | Apr. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | |
Common Class A [Member] | Common Class A [Member] | Common Class B [Member] | one [Member] | one [Member] | three [Member] | three [Member] | four [Member] | ||||
Common Class A [Member] | Common Class B [Member] | Common Class A [Member] | Common Class B [Member] | Common Class A [Member] | |||||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | ' | $0.12 | ' | ' | ' | ' | $0.36 | $0.24 | $0.12 | $0.12 | $0.12 |
Common Stock Dividends Per Share Expired (in dollars per share) | ' | ' | $0.24 | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends, Common Stock, Cash | ($35,979,000) | ($35,815,000) | ' | ($19,957) | ' | ($27,852,000) | ' | ' | ' | ' | ' |
Authorized Quarterly Cash Dividends Per Share | ' | ' | ' | ' | $0.36 | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Detail Textuals) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | ' | 10.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date | ' | 85.00% | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | ' | 76,219 | 76,676 | 67,537 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | 2,300,000 | ' | ' |
Share-based Compensation | ' | $5,525 | $3,845 | $2,868 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | ' | 424 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | ' | 656 | 647 | 1,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures (in shares) | ' | 51,977 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Nonvested (in shares) | ' | 107,034 | 146,175 | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Inperiod Weighted Average Grant Date Fair Value Nonvested (in dollars per share) | ' | $9.87 | $9.97 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | ' | $9.91 | ' | ' |
Share-based Compensation | ' | 632 | 1,320 | 370 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | '1 year 3 months 0 days | ' | ' |
Performance Stock Units [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | ' | 5,733 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | '1 year 7 months 0 days | ' | ' |
Performance Shares [Member] | ' | ' | ' | ' |
Stock Issued During Period, Shares, Other | 804,896 | ' | 622,700 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 127,890 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | ' | 2,937 | 4,375 | 5,878 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures (in shares) | ' | 932,786 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Nonvested (in shares) | ' | 1,259,629 | 685,703 | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Inperiod Weighted Average Grant Date Fair Value Nonvested (in dollars per share) | ' | $13.46 | $8.37 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | ' | $15.47 | ' | ' |
Share-based Compensation | ' | 4,489 | 2,440 | 2,378 |
Employee Stock [Member] | ' | ' | ' | ' |
Share-based Compensation | ' | $404 | $85 | $110 |
Stock_Based_Compensation_Restr1
Stock Based Compensation Restricted Stock Units Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Entity Information [Line Items] | ' | ' | ' |
Share-based Compensation | $5,525 | $3,845 | $2,868 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Entity Information [Line Items] | ' | ' | ' |
Share-based Compensation | 632 | 1,320 | 370 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Tax Benefits Recognized | 621 | 494 | 141 |
Share Based Compensation Arrangement By Share Based Payment Grants Nonvested | 107,034 | 146,175 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 656 | 647 | 1,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Value of Grants in Period, Weighted Average Grant Date Fair Value | $515 | $1,366 | $632 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 51,977 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $9.91 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Stock Units Vested in Period | -64,357 | ' | ' |
Share-Based Compensation Arrangement by Share-based Payment Award, Vested in Period | $10.20 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value | -32,550 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | $9.04 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Dividend Equivalents in Period | 5,789 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Dividends in Period, Weighted Average Grant Date Fair Value | $9.47 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Inperiod Weighted Average Grant Date Fair Value Nonvested | $9.87 | $9.97 | ' |
Stock_Based_Compensation_Perfr
Stock Based Compensation Perfromance Stock Unit Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation | $5,525 | $3,845 | $2,868 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Nonvested | 107,034 | 146,175 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $9.91 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Stock Units Vested in Period | -64,357 | ' | ' |
Share-Based Compensation Arrangement by Share-based Payment Award, Vested in Period | $10.20 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Inperiod Weighted Average Grant Date Fair Value Nonvested | $9.87 | $9.97 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 51,977 | ' | ' |
Share-based Compensation | 632 | 1,320 | 370 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Tax Benefits Recognized | 621 | 494 | 141 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Value of Grants in Period, Weighted Average Grant Date Fair Value | 515 | 1,366 | 632 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 656 | 647 | 1,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -32,550 | ' | ' |
Share-basedPaymentAwardOptionsForfeituresinPeriodWeightedAverageGrantDateFairValuePerShare | $9.04 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Dividend Equivalents in Period | 5,789 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Dividends in Period, Weighted Average Grant Date Fair Value | $9.47 | ' | ' |
Performance Shares [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Nonvested | 1,259,629 | 685,703 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $15.47 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Stock Units Vested in Period | -314,008 | ' | ' |
Share-Based Compensation Arrangement by Share-based Payment Award, Vested in Period | $9.35 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Grants Inperiod Weighted Average Grant Date Fair Value Nonvested | $13.46 | $8.37 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 932,786 | ' | ' |
Share-based Compensation | 4,489 | 2,440 | 2,378 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Tax Benefits Recognized | 3,318 | 2,252 | 904 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Value of Grants in Period, Weighted Average Grant Date Fair Value | 14,430 | 4,913 | 6,062 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | $2,937 | $4,375 | $5,878 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -74,318 | ' | ' |
Share-basedPaymentAwardOptionsForfeituresinPeriodWeightedAverageGrantDateFairValuePerShare | $11.81 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Dividend Equivalents in Period | 29,466 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Dividends in Period, Weighted Average Grant Date Fair Value | $10.27 | ' | ' |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Rate | |||
Employee Benefit Plans [Abstract] | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent | 50.00% | ' | ' |
Defined Contribution Plan, Maximum Annual Contribution per Employee, Percent | 6.00% | ' | ' |
Defined Contribution Plan, Cost Recognized | $1,606 | $1,384 | $1,239 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | $5,891 | $43,195 | $37,019 |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | 25,032 | 33,890 | 27,956 |
Payments to Acquire Productive Assets, including Corporate Aircraft | ' | ' | ' | ' | ' | ' | ' | ' | 55,930 | ' | ' |
Assets | 378,462 | ' | ' | ' | 381,383 | ' | ' | ' | 378,462 | 381,383 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | 118,395 | 113,292 | 152,282 | 124,001 | 115,100 | 104,197 | 141,648 | 123,068 | 507,970 | 484,013 | 483,921 |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 24,469 | 20,024 | 14,980 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | 30,360 | 63,219 | 51,999 |
Live and Televised Entertainment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | 31,077 | 3,123 | 5,210 |
Assets | 186,015 | ' | ' | ' | 150,014 | ' | ' | ' | 186,015 | 150,014 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 382,257 | 353,849 | 339,979 |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 6,657 | 9,238 | 7,491 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | 119,498 | 126,452 | 123,414 |
Consumer Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | 225 | 5,188 | 1,793 |
Assets | 12,940 | ' | ' | ' | 13,227 | ' | ' | ' | 12,940 | 13,227 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 76,406 | 87,756 | 94,914 |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 1,562 | 874 | 460 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | 40,794 | 48,641 | 51,033 |
Digital Media [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | 4,110 | 1,996 | 1,686 |
Assets | 9,187 | ' | ' | ' | 8,854 | ' | ' | ' | 9,187 | 8,854 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 38,529 | 34,531 | 28,132 |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 2,693 | 1,485 | 1,174 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | 7,935 | 10,325 | 7,175 |
WWE Studios [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 18,322 | ' | ' | ' | 27,410 | ' | ' | ' | 18,322 | 27,410 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,778 | 7,877 | 20,896 |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 9 | 9 | 9 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | -12,744 | -5,457 | -29,375 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | 20,518 | 23,583 | 19,267 |
Assets | 151,998 | ' | ' | ' | 181,878 | ' | ' | ' | 151,998 | 181,878 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, Depletion and Amortization, Nonproduction | ' | ' | ' | ' | ' | ' | ' | ' | 13,548 | 8,418 | 5,846 |
Operating Income Before Depreciation & Amortizaton (OIBDA) | ' | ' | ' | ' | ' | ' | ' | ' | -125,123 | -116,742 | -100,248 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 391,663 | 365,942 | 350,523 |
Europe Middle East Africa [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 72,409 | 70,720 | 76,165 |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 37,269 | 37,087 | 38,662 |
Latin America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | $6,629 | $10,264 | $18,571 |
Segment_Information_Details_1
Segment Information (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Assets | $378,462 | ' | ' | ' | $381,383 | ' | ' | ' | $378,462 | $381,383 | ' |
Net revenues | 118,395 | 113,292 | 152,282 | 124,001 | 115,100 | 104,197 | 141,648 | 123,068 | 507,970 | 484,013 | 483,921 |
Consumer Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 12,940 | ' | ' | ' | 13,227 | ' | ' | ' | 12,940 | 13,227 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 76,406 | 87,756 | 94,914 |
Digital Media [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 9,187 | ' | ' | ' | 8,854 | ' | ' | ' | 9,187 | 8,854 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 38,529 | 34,531 | 28,132 |
WWE Studios [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 18,322 | ' | ' | ' | 27,410 | ' | ' | ' | 18,322 | 27,410 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,778 | 7,877 | 20,896 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 151,998 | ' | ' | ' | 181,878 | ' | ' | ' | 151,998 | 181,878 | ' |
Live and Televised Entertainment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 186,015 | ' | ' | ' | 150,014 | ' | ' | ' | 186,015 | 150,014 | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | $382,257 | $353,849 | $339,979 |
Segment_Information_Detail_Tex
Segment Information (Detail Textuals) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Payments to Acquire Productive Assets | ' | ' | ' | ' | ' | ' | ' | ' | $25,032 | $33,890 | $27,956 |
Revenue, Net | 118,395 | 113,292 | 152,282 | 124,001 | 115,100 | 104,197 | 141,648 | 123,068 | 507,970 | 484,013 | 483,921 |
Property, Plant and Equipment, Net | 133,480 | ' | ' | ' | 102,162 | ' | ' | ' | 133,480 | 102,162 | ' |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Net | ' | ' | ' | ' | ' | ' | ' | ' | $36,003 | $34,001 | $33,178 |
Concentration_of_Credit_Risk_D
Concentration of Credit Risk (Detail Textuals) (Accounts Receivable [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Rate | |
Accounts Receivable [Member] | ' |
Concentration Risk, Percentage | 13.00% |
Quarterly_Financial_Summaries_1
Quarterly Financial Summaries (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||||||
Asset Impairment Charges | ' | $6,965 | ' | $4,696 | $475 | ' | ' | $754 | $11,661 | $1,229 | $23,414 | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||||||||||||
2013 | (1) (3) | (2) | (1) (2) | -1 | |||||||||||||||||||||||
Net revenues | $ | 124,001 | $ | 152,282 | $ | 113,292 | $ | 118,395 | |||||||||||||||||||
Cost of revenues | $ | 74,866 | $ | 96,855 | $ | 70,947 | $ | 80,360 | |||||||||||||||||||
Net income (loss) | $ | 3,034 | $ | 5,182 | $ | 2,439 | $ | (7,891 | ) | ||||||||||||||||||
Net income (loss) per common share: basic | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.11 | ) | ||||||||||||||||||
Net income (loss) per common share: diluted | $ | 0.04 | $ | 0.07 | $ | 0.03 | $ | (0.10 | ) | ||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Net revenues | $ | 123,068 | $ | 141,648 | $ | 104,197 | $ | 115,100 | |||||||||||||||||||
Cost of revenues | $ | 68,397 | $ | 85,484 | $ | 61,406 | $ | 69,166 | |||||||||||||||||||
Net income | $ | 15,331 | $ | 11,943 | $ | 3,527 | $ | 631 | |||||||||||||||||||
Net income per common share: basic | $ | 0.21 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||||||||||||
Net income per common share: diluted | $ | 0.2 | $ | 0.16 | $ | 0.05 | $ | 0.01 | |||||||||||||||||||
-1 | Cost of revenues for the first and third quarters of 2013 includes impairment charges of $4,696 and $6,965, respectively, related to certain of our feature films. Cost of revenues for the first and fourth quarters of 2012 includes impairment charges of $754 and $475, respectively, related to certain of our feature films. See Note 7. Feature Film Production Assets. | ||||||||||||||||||||||||||
-2 | Net income for the second and third quarters of 2013 and 2012 includes the benefit of $257, $6,373, and $1,031, $4,143, respectively, relating to incentives received relating to television production. | ||||||||||||||||||||||||||
-3 | Net income includes a $4,057 tax benefit in the first quarter of 2012 related to previously unrecognized tax benefits. | ||||||||||||||||||||||||||
Revenue, Net | 118,395 | 113,292 | 152,282 | 124,001 | 115,100 | 104,197 | 141,648 | 123,068 | 507,970 | 484,013 | 483,921 | ||||||||||||||||
Net income | -7,891 | 2,439 | 5,182 | 3,034 | 631 | 3,527 | 11,943 | 15,331 | 2,764 | 31,432 | 24,832 | ||||||||||||||||
Earnings Per Share, Basic | ($0.11) | $0.03 | $0.07 | $0.04 | $0.01 | $0.05 | $0.16 | $0.21 | $0.04 | $0.42 | $0.33 | ||||||||||||||||
Earnings Per Share, Diluted | ($0.10) | $0.03 | $0.07 | $0.04 | $0.01 | $0.05 | $0.16 | $0.20 | $0.04 | $0.42 | $0.33 | ||||||||||||||||
Unrecognized Tax Benefits Which Reduced Income Taxes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Net income | ' | ' | ' | ' | ' | ' | ' | 4,057 | ' | ' | ' | ||||||||||||||||
Television Production Incentives [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Net income | ' | $6,373 | $257 | ' | ' | $4,143 | $1,031 | ' | ' | ' | ' |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' |
Valuation Allowances and Reserves, Balance | $2,786 | $6,275 | $2,179 | $12,316 |
Valuation Allowances and Reserves, Charged to Cost and Expense | -6 | 2,483 | -692 | ' |
Valuation Allowances and Reserves, Deductions | -3,483 | 1,613 | -9,445 | ' |
Allowance for Newstand Returns [Member] | ' | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' |
Valuation Allowances and Reserves, Balance | 2,038 | 2,145 | 3,286 | 4,277 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 14,948 | 14,355 | 23,626 | ' |
Valuation Allowances and Reserves, Deductions | -15,055 | -15,496 | -24,617 | ' |
Home Video Allowance for Returns [Member] | ' | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' |
Valuation Allowances and Reserves, Balance | 4,520 | 6,271 | 7,096 | 5,637 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 18,711 | 15,990 | 18,778 | ' |
Valuation Allowances and Reserves, Deductions | ($20,462) | ($16,815) | ($17,319) | ' |