Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Starz, LLC | ' |
Entity Central Index Key | '0001559270 | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 0 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $30,642 | $749,774 |
Restricted cash | 64,506 | 0 |
Trade accounts receivable, net of allowances of $39,239 and $35,045 | 247,985 | 241,415 |
Program rights, net | 334,736 | 340,005 |
Deferred income taxes (Note 5) | 652 | 990 |
Other current assets | 32,816 | 44,727 |
Total current assets | 711,337 | 1,376,911 |
Noncurrent assets: | ' | ' |
Program rights | 352,274 | 338,684 |
Investment in films and television programs, net | 148,748 | 181,673 |
Property and equipment, net of accumulated depreciation of $103,502 and $110,882 | 90,783 | 96,280 |
Deferred income taxes (Note 5) | 22,044 | 12,222 |
Goodwill | 131,760 | 131,760 |
Other assets, net | 36,359 | 38,520 |
Total assets | 1,493,305 | 2,176,050 |
Current liabilities: | ' | ' |
Current portion of debt (Note 2) | 4,867 | 4,134 |
Trade accounts payable | 6,059 | 6,162 |
Accrued liabilities (Notes 4, 6 and 7) | 321,358 | 256,062 |
Due to affiliate (Note 4) | 0 | 39,519 |
Deferred revenue | 4,257 | 24,574 |
Total current liabilities | 336,541 | 330,451 |
Noncurrent liabilities: | ' | ' |
Debt (Note 2) | 1,058,939 | 535,671 |
Other liabilities (Note 6) | 8,436 | 7,784 |
Total liabilities | 1,403,916 | 873,906 |
Member's Equity [Abstract] | ' | ' |
Member’s interest | 95,647 | 1,311,951 |
Noncontrolling interests in subsidiaries | -6,258 | -9,807 |
Total member’s interest and noncontrolling interests | 89,389 | 1,302,144 |
Commitments and contingencies (Note 6) | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | $1,493,305 | $2,176,050 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Allowances for trade accounts receivable | $39,239 | $35,045 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $103,502 | $110,882 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | $380,376 | $346,246 | $1,120,945 | $1,075,124 |
Home video net sales | 65,677 | 54,724 | 241,846 | 133,372 |
Total revenue | 446,053 | 400,970 | 1,362,791 | 1,208,496 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) (Note 6) | 166,036 | 164,421 | 477,360 | 504,674 |
Production and acquisition costs (including amortization) (Note 4) | 67,942 | 42,169 | 220,999 | 117,617 |
Home video cost of sales | 21,334 | 19,033 | 51,550 | 40,261 |
Operating expenses | 13,803 | 12,501 | 38,925 | 38,876 |
Selling, general and administrative (Note 4) | 63,219 | 54,705 | 214,201 | 163,611 |
Stock compensation (Note 3) | 8,815 | 3,653 | 25,127 | 9,888 |
Depreciation and amortization | 4,148 | 4,980 | 12,917 | 13,787 |
Total costs and expenses | 345,297 | 301,462 | 1,041,079 | 888,714 |
Operating income | 100,756 | 99,508 | 321,712 | 319,782 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, net of amounts capitalized (Note 2) | -11,655 | -9,475 | -33,214 | -18,805 |
Other income (expense), net | 195 | -487 | -1,798 | 3,680 |
Income before income taxes | 89,296 | 89,546 | 286,700 | 304,657 |
Income tax expense (Note 5) | -36,210 | -34,264 | -109,376 | -100,572 |
Net income | 53,086 | 55,282 | 177,324 | 204,085 |
Net loss (income) attributable to noncontrolling interests | -842 | 1,142 | -3,328 | -1,154 |
Net income attributable to member | $52,244 | $56,424 | $173,996 | $202,931 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $53,086 | $55,282 | $177,324 | $204,085 |
Other comprehensive income (loss), net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | 189 | 332 | 54 | 322 |
Comprehensive income | 53,275 | 55,614 | 177,378 | 204,407 |
Comprehensive loss (income) attributable to noncontrolling interests | -919 | 402 | -3,265 | -1,908 |
Comprehensive income attributable to member | $52,356 | $56,016 | $174,113 | $202,499 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income | $177,324 | $204,085 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 12,917 | 13,787 |
Amortization of program rights | 442,797 | 473,251 |
Program rights payments | -323,220 | -366,381 |
Amortization of investment in films and television programs | 172,877 | 86,742 |
Investment in films and television programs | -217,474 | -194,988 |
Stock compensation | 25,127 | 9,888 |
Payments of long term incentive plan | -3,195 | -33,410 |
Deferred income taxes | 2,799 | -3,265 |
Other non-cash items | 9,658 | 877 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -59,269 | -6,184 |
Due to affiliate | -39,519 | -15,556 |
Payables and other liabilities | -10,807 | 2,246 |
Net cash provided by operating activities | 190,015 | 171,092 |
Investing activities: | ' | ' |
Payments to Acquire Property, Plant, and Equipment | -6,165 | -7,870 |
Investing activities – purchases of property and equipment | -6,165 | -7,870 |
Financing activities: | ' | ' |
Borrowings of debt | 1,081,000 | 500,000 |
Payments of debt | -601,445 | -503,035 |
Debt issuance costs | -2,348 | -8,007 |
Distributions to Old LMC | -1,200,000 | -400,000 |
Distributions to parent related to repurchases of common stock | -179,197 | 0 |
Distributions to Old LMC related to stock compensation | 0 | -2,024 |
Minimum withholding of taxes related to stock compensation | -2,961 | -3,643 |
Excess tax benefit from stock compensation | 2,096 | 0 |
Settlement of derivative instruments | 0 | 3 |
Net cash used in financing activities | -902,855 | -416,706 |
Effect of exchange rate changes on cash and cash equivalents | -127 | 59 |
Net decrease in cash and cash equivalents | -719,132 | -253,425 |
Beginning of period | 749,774 | 1,099,887 |
End of period | $30,642 | $846,462 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity - Member’s Interest and Noncontrolling Interests (USD $) | Total | Member's Interest | Noncontrolling Interests |
In Thousands, unless otherwise specified | |||
Balance at Dec. 31, 2012 | $1,302,144 | $1,311,951 | ($9,807) |
Increase (Decrease) in Member's Interest and Noncontrolling Interests [Roll Forward] | ' | ' | ' |
Distributions to Old LMC (Note 1) | -1,245,668 | -1,245,668 | ' |
Tax attributes related to the LMC Spin-Off (Notes 1 and 5) | 11,252 | 11,252 | ' |
Distributions to parent related to repurchases of common stock | -179,197 | -179,197 | ' |
Net income | 177,324 | 173,996 | 3,328 |
Other comprehensive income (loss) | 54 | 117 | -63 |
Stock compensation | 24,345 | 24,061 | 284 |
Minimum withholding of taxes related to stock compensation | -2,961 | -2,961 | ' |
Excess tax benefit from stock compensation | 2,096 | 2,096 | ' |
Balance at Sep. 30, 2013 | $89,389 | $95,647 | ($6,258) |
Basis_of_Presentation_and_Desc
Basis of Presentation and Description of Business | 9 Months Ended | |
Sep. 30, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis of Presentation and Description of Business | ' | |
Basis of Presentation and Description of Business | ||
Presentation | ||
Starz, LLC provides premium subscription video programming to United States (“U.S.”) multichannel video programming distributors (“MVPDs”), including cable operators, satellite television providers and telecommunications companies. Starz, LLC also develops, produces and acquires entertainment content and distributes this content to consumers in the U.S. and throughout the world. The accompanying condensed consolidated financial statements include the accounts of Starz, LLC and its majority-owned and controlled subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | ||
The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Starz, LLC’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||
LMC Spin-Off | ||
In January 2013, the parent company of Starz, LLC, Starz (formerly known as Liberty Media Corporation (“Old LMC”)), completed the spin off (the “LMC Spin-Off”) of its wholly-owned subsidiary Liberty Media Corporation (formerly known as Liberty Spinco, Inc. (“Liberty Media”)) in a tax-free manner through the distribution, by means of a dividend, of shares of Liberty Media’s common stock to holders of Old LMC common stock. In this distribution, each holder of a share of Old LMC common stock received one share of the corresponding series of Liberty Media common stock. Following the LMC Spin-Off, Starz retained the businesses of Starz, LLC and all other businesses, assets and liabilities of Old LMC are included in Liberty Media. Unless the context otherwise requires, Old LMC is used to refer to Starz, LLC’s parent company when events or circumstances being described occurred prior to the LMC Spin-Off and Starz is used to refer to Starz, LLC’s parent company when events or circumstances being described occurred following the LMC Spin-Off. | ||
In connection with the LMC Spin-Off, Starz, LLC distributed $1.8 billion in cash to Old LMC which was funded by a combination of cash on hand and $550.0 million of borrowings under Starz, LLC’s senior secured revolving credit facility. The $1.8 billion was paid as follows: $100.0 million on July 9, 2012, $250.0 million on August 17, 2012, $50.0 million on September 4, 2012, $200.0 million on November 16, 2012 and $1.2 billion on January 10, 2013. Such distributed cash was contributed to Liberty Media prior to the LMC Spin-Off. Additionally, in connection with the LMC Spin-Off, Starz, LLC distributed its Englewood, Colorado corporate office building and related building improvements to Old LMC (and Old LMC transferred such building and related improvements to Liberty Property Holdings, Inc. (“LPH”), a subsidiary of Liberty Media) and then leased back the use of such facilities from LPH. Following the LMC Spin-Off, Liberty Media and Starz operate independently, and neither have any stock ownership, beneficial or otherwise, in the other. | ||
In connection with the LMC Spin-Off, Old LMC entered into several agreements with Liberty Media or Liberty Media’s subsidiaries: | ||
• | Reorganization Agreement, dated as of January 10, 2013, by and between Starz and Liberty Media, which provides for, among other things, the principal corporate transactions required to effect the LMC Spin-Off, certain conditions to the LMC Spin-Off and provisions governing the relationship between Starz and Liberty Media with respect to and resulting from the LMC Spin-Off; | |
• | Tax Sharing Agreement, dated as of January 11, 2013, by and between Starz and Liberty Media, which governs the allocation of taxes, tax benefits, tax items and tax-related losses between Starz and Liberty Media. In connection with the LMC Spin-Off, deferred tax assets of $157.4 million related to capital loss and foreign tax credit carryforwards were allocated to Liberty Media along with their corresponding valuation allowances of $157.4 million. In addition, state net operating losses, foreign tax credit carryforwards and other attributes of $11.3 million were allocated to Starz; | |
• | Services Agreement, dated as of January 11, 2013, by and between Starz and Liberty Media, which governs the provision by Liberty Media to Starz and by Starz to Liberty Media of specified services and benefits following the LMC Spin-Off. During the three and nine months ended September 30, 2013, Starz recognized $0.2 million and $0.4 million, respectively, of net expenses under the Services Agreement; | |
• | Facilities Sharing Agreement, dated as of January 11, 2013, by and between Starz and LPH, pursuant to which Starz shares office facilities with Liberty Media. During the three and nine months ended September 30, 2013, Starz recognized $0.1 million and $0.3 million, respectively, of expense for shared office space; | |
• | Two Aircraft Time Sharing Agreements, each dated as of January 11, 2013, by and between Starz and Liberty Media, which govern the lease for each of two aircraft from Liberty Media to Starz and the provision of fully qualified flight crew for all operations on a periodic, non-exclusive time sharing basis. The charges under the Two Aircraft Time Sharing Agreements during the three and nine months ended September 30, 2013 were not significant; and | |
• | Commercial Lease, dated as of January 11, 2013, by and between LPH, Starz, LLC, and, for the limited purposes described therein, Starz Entertainment, LLC (“Starz Entertainment”), pursuant to which Starz, LLC leases its headquarters building that was distributed to Liberty Media in connection with the LMC Spin-Off from LPH for a period of ten years, with successive five-year renewal periods at the option of Starz, LLC. Starz, LLC pays a monthly base rent of $0.3 million (subject to annual increases) under the lease agreement. Starz, LLC recorded a $44.8 million capital lease in connection with this lease agreement. | |
Although Starz, LLC is not a party to all of these agreements, Starz has no assets other than those of Starz, LLC and its subsidiaries with which to honor any of its obligations. | ||
Business | ||
Starz, LLC’s business operations are conducted by its wholly-owned subsidiaries Starz Entertainment, Film Roman, LLC (“Film Roman”) and certain other immaterial subsidiaries, and its majority-owned (75%) subsidiary Starz Media Group, LLC (“Starz Media”). The Weinstein Company LLC (“TWC”) owns a 25% interest in Starz Media. Starz, LLC is managed by and organized around the following operating segments: | ||
Starz Networks | ||
Starz Networks’ flagship premium networks are Starz and Encore. Starz, a first-run movie service, exhibits contemporary hit movies, original series, and documentaries. Encore airs first-run movies and classic contemporary movies. Starz Network’s third network, MoviePlex, offers a variety of art house, independent films and classic movie library content. Starz and Encore, along with MoviePlex, air across 17 linear networks complemented by on-demand and Internet services. Starz Networks’ premium networks are offered by MVPDs to their subscribers either on a fixed monthly price as part of a programming tier or package or on an a-la-carte basis. | ||
Starz Distribution | ||
Starz Distribution includes Starz, LLC’s Home Video, Digital Media and Worldwide Distribution businesses: | ||
Home Video | ||
Starz, LLC, through its majority-owned subsidiary Anchor Bay Entertainment, LLC (“Anchor Bay Entertainment”), sells or rents DVDs (standard definition and Blu-ray™) under the Anchor Bay and Manga brands, in the U.S., Canada, the United Kingdom, Australia and other international territories to the extent it has rights to such content in international territories. Anchor Bay Entertainment develops and produces certain of its content and also acquires and licenses various titles from third parties. Certain of the titles produced or acquired by Anchor Bay Entertainment air on Starz Networks’ Starz and Encore networks. Anchor Bay Entertainment also distributes Starz Networks’ original programming content and TWC’s titles. Each of these titles are sold to and distributed by regional and national retailers and other distributors, including Wal-Mart, Target, Best Buy, Ingram Entertainment, Amazon and Netflix. | ||
Digital Media | ||
Digital Media distributes digital and on-demand content for Starz, LLC’s owned content and content for which it has licensed digital ancillary rights in the U.S. and throughout the world to the extent it has rights to such content in international territories. Digital Media receives fees for such services from a wide array of partners and distributors. These range from traditional MVPDs, Internet/mobile distributors, game developers/publishers and consumer electronics companies. Digital Media also distributes Starz Networks’ original programming content and TWC’s titles. | ||
Worldwide Distribution | ||
Worldwide Distribution distributes movies, television series, documentaries, children’s programming and other video content. Worldwide Distribution exploits Starz, LLC’s owned content and content for which it has licensed ancillary rights on free or pay television in the U.S. and throughout the world on free or pay television and other media to the extent it has rights to such content in international territories. It also distributes Starz Networks’ original programming content. | ||
Starz Animation | ||
Starz, LLC, through its wholly-owned subsidiary, Film Roman, develops and produces two-dimensional animated content on a for-hire basis for various third party entertainment companies. | ||
Use of Estimates | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Starz, LLC considers amortization of program rights, the fair value of goodwill and any related impairment, the development of ultimate revenue estimates associated with released films and television programs, the assessment of investment in films and television programs for impairment, valuation allowances associated with deferred income taxes and allowances for sales returns to be its most significant estimates. Actual results may differ from those estimates. | ||
Prior Period Reclassifications | ||
Certain prior period amounts have been reclassified for comparability with the 2013 presentation. |
Debt
Debt | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt | ' | |||||||
Debt | ||||||||
Debt consists of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Senior Secured Credit Facilities (a) | $ | 309,500 | $ | 5,000 | ||||
Senior Notes and New Notes, including premium of $3,146 and none (b) | 678,146 | 500,000 | ||||||
Capital leases (c) | 76,160 | 34,805 | ||||||
Total debt | 1,063,806 | 539,805 | ||||||
Less current portion of debt | (4,867 | ) | (4,134 | ) | ||||
Debt | $ | 1,058,939 | $ | 535,671 | ||||
(a) | On November 16, 2011, Starz, LLC entered into a credit agreement that provides a $1,000.0 million revolving credit facility, with a $50.0 million sub-limit for standby letters of credit, and a $500.0 million term loan facility (the “Senior Secured Credit Facilities”). At closing, Starz, LLC borrowed $500.0 million under the term loan facility and $5.0 million under the revolving credit facility. Net proceeds from the Senior Notes, as defined below, and cash on hand were used to repay and terminate the term loan facility in September 2012. Borrowings under the revolving credit facility may be prepaid at any time and from time to time without penalty other than customary breakage costs. Any amounts prepaid on the revolving credit facility may be reborrowed. The revolving credit facility is scheduled to mature on November 16, 2016. As of September 30, 2013, $690.5 million of borrowing capacity was available under the revolving credit facility. | |||||||
Interest on each loan under the Senior Secured Credit Facilities is payable at either an alternate base rate or LIBOR at Starz, LLC’s election. Borrowings that are alternate base rate loans bear interest at a per annum rate equal to the alternate base rate plus a margin that varies between 0.5% and 1.5% depending on the consolidated leverage ratio, as defined in the Senior Secured Credit Facilities. The alternate base rate is the highest of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus ½ of 1.0% or (c) LIBOR for a one-month interest period plus 1.0%. Borrowings that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin that varies between 1.5% and 2.5% depending on the consolidated leverage ratio. The Senior Secured Credit Facilities require Starz, LLC to pay a commitment fee on any unused portion under the revolving credit facility. The commitment fee varies between 0.25% and 0.50%, depending on the consolidated leverage ratio. | ||||||||
As of September 30, 2013, the following borrowings and related LIBOR interest rates plus the applicable margin were outstanding under the Senior Secured Credit Facilities (dollars in thousands): | ||||||||
LIBOR rate period: | Interest Rate | Loan Amount | ||||||
September 2013 - October 2013 | 1.93% | $ | 259,500 | |||||
September 2013 - October 2013 | 1.93% | 50,000 | ||||||
$ | 309,500 | |||||||
The Senior Secured Credit Facilities contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens or guarantees, or making certain distributions, investments and other restricted payments. In addition, Starz, LLC must comply with certain financial covenants, including a consolidated leverage ratio, as defined in the agreement. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Secured Credit Facilities. | ||||||||
(b) | On September 13, 2012, Starz, LLC and Starz Finance Corp. co-issued $500.0 million aggregate principal amount of 5.0% senior notes due September 15, 2019 (the “Senior Notes”). The Senior Notes bear interest at a rate of 5.0% payable semi-annually on September 15 and March 15 of each year. Starz Finance Corp. is a wholly-owned subsidiary of Starz, LLC and was formed for the sole purpose of co-issuing the Senior Notes. Starz Finance Corp. does not have and will not have any operations, assets or subsidiaries of its own. The Senior Notes are guaranteed by Starz Entertainment. The net proceeds from the issuance of the Senior Notes and cash on hand were used to repay and terminate the $500.0 million term loan facility under the Senior Secured Credit Facilities. On February 14, 2013, Starz, LLC completed an exchange offer, exchanging the majority of the unregistered Senior Notes for new registered Senior Notes. The new registered Senior Notes are substantially identical to the original Senior Notes, except the new registered Senior Notes are registered under the Securities Act of 1933, as amended (the “Securities Act”), and the transfer restrictions and registration rights, and related special interest provisions applicable to the original Senior Notes will not apply to the new registered Senior Notes. | |||||||
On February 8, 2013, Starz, LLC and Starz Finance Corp. completed the issuance of an additional $175.0 million aggregate principal amount of 5.0% senior notes due 2019 (the “New Notes”), which were issued as additional notes under the indenture governing the Senior Notes. The net proceeds from the issuance of the New Notes were used to repay indebtedness under the revolving portion of the Senior Secured Credit Facilities. The New Notes were issued at a price of 102.0% plus accrued interest from September 13, 2012. On May 24, 2013, Starz, LLC completed an exchange offer, exchanging the unregistered New Notes for new registered New Notes. The new registered New Notes are substantially identical to the original New Notes, except the new registered New Notes are registered under the Securities Act and the transfer restrictions and registration rights, and related special interest provisions applicable to the original New Notes will not apply to the new registered New Notes. | ||||||||
The Senior Notes and New Notes rank equally in right of payment to all existing and future senior obligations and existing and future subordinated obligations. The Senior Notes and New Notes are effectively subordinated to any existing and future secured obligations and to all the liabilities of the subsidiaries that do not guarantee the Senior Notes or New Notes. | ||||||||
The Senior Notes and New Notes contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens and guarantees, or making certain distributions, investments and other restricted payments. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Notes and New Notes. | ||||||||
(c) | On January 11, 2013, Starz, LLC entered into the Commercial Lease with LPH for its headquarters building. The term of the lease is ten years, with successive five-year renewal periods at the option of Starz, LLC. Starz, LLC has recorded a $44.8 million capital lease in connection with this lease agreement with an imputed annual interest rate of 6.4%. | |||||||
Starz Entertainment has entered into capital lease agreements for its transponder capacity. The agreements expire during 2018 to 2021 and have imputed annual interest rates ranging from 5.5% to 7.0%. | ||||||||
At September 30, 2013, the fair value of the Senior Notes and New Notes was $675.3 million and was based upon quoted prices in active markets. Starz, LLC believes the fair value of the Senior Secured Credit Facilities approximates its carrying value as of September 30, 2013 due to its variable rate nature and Starz, LLC’s stable credit spread. | ||||||||
Amounts totaling $0.8 million, $0.4 million, $2.8 million and $0.9 million of interest expense have been capitalized as investment in films and television programs during the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. |
Stock_Options_and_Long_Term_In
Stock Options and Long Term Incentive Plan | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Stock Options, Long Term Incentive Plan and Phantom Stock Appreciation Rights | ' | ||||||
Stock Options and Long Term Incentive Plan | |||||||
Stock Options and Restricted Stock | |||||||
Prior to the LMC Spin-Off, Old LMC granted, and Starz has since granted to certain of its directors and employees, stock options to purchase Series A common stock (formerly the Series A Liberty Capital common stock) and restricted shares of Series A common stock pursuant to Old LMC incentive plans, which are now the Starz incentive plans. As of September 30, 2013, the total unrecognized compensation cost related to the unvested stock options and restricted stock was approximately $71.6 million. Such amount will be recognized in Starz, LLC’s condensed consolidated statements of operations over a weighted average period of approximately 2.81 years. | |||||||
In connection with the LMC Spin-Off, all outstanding stock options and stock appreciation rights with respect to Old LMC’s Series A common stock (the “Liberty Capital Awards”) were adjusted pursuant to the anti-dilution provisions of the incentive plans under which the equity awards were granted, such that a holder of a Liberty Capital Award received i) an adjustment to the exercise price or base price and the number of shares for each Liberty Capital Award (as so adjusted, a “Liberty Media Award”) and ii) an equity award of shares of Series A common stock (a “Starz Award”). | |||||||
The exercise prices and number of shares subject to the Liberty Media Award and the Starz Award were determined based on i) the exercise prices and number of shares subject to a Liberty Capital Award, ii) the pre-distribution trading price of Series A common stock and iii) the post-distribution trading prices of Liberty Media common stock and Series A common stock. For employees of Starz, LLC, the pre-distribution intrinsic value of the vested Liberty Capital Award was allocated between a vested Liberty Media Award and a vested Starz Award, while the pre-distribution intrinsic value of the unvested Liberty Capital Award was maintained solely within an unvested Starz Award. | |||||||
Following the LMC Spin-Off, employees of Starz, LLC hold awards in both Series A common stock and Liberty Media common stock. | |||||||
Awards granted during the nine months ended September 30, 2013 are summarized as follows: | |||||||
Granted | Weighted | ||||||
Average Grant-Date Fair Value | |||||||
2013 Awards: | |||||||
Stock options | 6,030,106 | $7.61 | |||||
Restricted stock | 310,502 | $18.97 | |||||
Of the total 2013 stock option awards, options to purchase 2,666,983 shares vest quarterly over a 4 year period and have a term of 7 years and options to purchase 3,363,123 shares vest 50% on each of December 31, 2015 and 2016 and have a term of 10 years. Starz, LLC calculates the grant-date fair value for the stock options using the Black-Scholes Model. The expected term used in the Black-Scholes calculation was a range of 4.70 to 6.92 years. The expected volatility was 41.35%. The expected volatility used in the calculation for the awards is based on the historical volatility of Series A common stock and the implied volatility of Old LMC’s publicly traded options. Starz, LLC used a zero dividend rate as Old LMC/Starz has not historically declared dividends and a range of risk-free rates of 0.7% to 1.2%, which was derived from U.S. Treasury Bonds with a term similar to that of the subject options. The grant-date fair value of 308,409 restricted shares granted in 2013 was based on the market value of Series A common stock at the grant date of $18.93 per share and the grant date fair value of 2,093 restricted shares granted in 2013 was based on the market value of Series A common stock at the grant date of $24.43 per share. During 2013, 6,480 shares of restricted stock were forfeited. Of the remaining 304,022 restricted shares granted, 47,453 will vest on March 4, 2014 and 256,569 will vest annually over four years beginning March 4, 2014. | |||||||
The following table presents the number of options and weighted average exercise price (“WAEP”) for the activity during the nine months ended September 30, 2013: | |||||||
Options | WAEP | ||||||
Outstanding at December 31, 2012 | 1,615,711 | $ | 93.14 | ||||
LMC Spin-Off adjustment to existing stock options | 7,589,815 | * | |||||
Granted | 6,030,106 | $ | 18.93 | ||||
Exercised | (536,593 | ) | $ | 11.18 | |||
Forfeited | (268,612 | ) | $ | 11.11 | |||
Expired/canceled | — | $ | — | ||||
Outstanding at September 30, 2013 | 14,430,427 | $ | 14.7 | ||||
Exercisable at September 30, 2013 | 2,174,965 | $ | 12.23 | ||||
* The adjustment to the existing stock options from the LMC Spin-Off increased the number of existing stock options and reduced the WAEP. After giving effect to the LMC Spin-Off, the WAEP for the existing stock options was $11.62. | |||||||
At September 30, 2013, the weighted-average remaining contractual terms of the outstanding options is 6.5 years and the exercisable options is 5.3 years. | |||||||
Long Term Incentive Plan | |||||||
Starz, LLC granted incentive units to certain officers and key employees (“Plan Participants”) under the 2006 long term incentive plan (“2006 LTIP”). Such grants vested over a period of four years and were fully vested as of June 30, 2011. All remaining amounts due under the 2006 LTIP were paid in the second quarter of 2013. During the nine months ended September 30, 2013 and 2012, Starz, LLC made payments of $3.2 million and $33.4 million, respectively, to Plan Participants under the 2006 LTIP. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
Due to Affiliate | |
Prior to the LMC Spin-Off, Starz, LLC participated in Old LMC’s employee benefit plans (medical, dental, life insurance, etc.) and now participates in Starz’s plans following the LMC Spin-Off. Charges from Old LMC related to these benefits and other miscellaneous charges are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and aggregated none, $3.2 million, none and $9.2 million for the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. Such amounts were invoiced by Old LMC on a monthly basis and were due upon receipt of the invoice by Starz, LLC. Amounts due to affiliate for such charges totaled none and $1.0 million as of September 30, 2013 and December 31, 2012, respectively. | |
Due to affiliate at December 31, 2012 also includes $38.5 million for amounts owed to Old LMC for income tax obligations. | |
Related Party | |
On January 28, 2011, Starz, LLC sold a 25% interest in Starz Media to TWC. In December 2010, Anchor Bay Entertainment entered into a five-year license agreement with TWC for the distribution, by the Home Video and Digital Media businesses, of certain of TWC’s theatrical releases. Starz, LLC recognized expense of $35.0 million, $10.4 million, $140.6 million and $46.8 million, which is included in production and acquisition costs in the accompanying condensed consolidated statements of operations, for TWC’s share of the net proceeds under the license agreement for the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. Amounts due to TWC totaled $79.4 million and $23.9 million, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets, at September 30, 2013 and December 31, 2012, respectively. Starz Entertainment guarantees Anchor Bay Entertainment’s advance payments to TWC under this agreement up to $50.0 million. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
Starz, LLC is a single member LLC, which is treated as a disregarded entity for U.S. federal income tax purposes. As such, it is included in the consolidated federal and state income tax returns of Starz. The income tax accounts and provisions included in these condensed consolidated financial statements have been prepared as if Starz, LLC was a stand-alone federal and state taxpayer. | ||||||||||||||||
Income tax expense consists of the following (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Current: | ||||||||||||||||
Federal | $ | 42,508 | $ | 35,464 | $ | 99,540 | $ | 101,762 | ||||||||
State and local | 2,865 | 3,232 | 5,383 | 1,006 | ||||||||||||
Foreign | 725 | 140 | 1,654 | 1,069 | ||||||||||||
46,098 | 38,836 | 106,577 | 103,837 | |||||||||||||
Deferred: | ||||||||||||||||
Federal | (9,995 | ) | (4,517 | ) | (1,861 | ) | (18,070 | ) | ||||||||
State and local | 107 | (55 | ) | 4,660 | 14,805 | |||||||||||
(9,888 | ) | (4,572 | ) | 2,799 | (3,265 | ) | ||||||||||
Income tax expense | $ | 36,210 | $ | 34,264 | $ | 109,376 | $ | 100,572 | ||||||||
Income tax expense differs from the amounts computed by applying the U.S. federal income tax rate of 35% as a result of the following (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Computed expected tax expense | $ | 31,254 | $ | 31,761 | $ | 100,345 | $ | 106,791 | ||||||||
State and local income taxes, net of federal income taxes | 2,138 | 1,868 | 6,613 | 8,607 | ||||||||||||
Foreign taxes, net of foreign tax credit | 8 | (475 | ) | 908 | (395 | ) | ||||||||||
Change in valuation allowance affecting tax expense | 3,417 | 2,018 | 2,287 | 77,471 | ||||||||||||
Taxable liquidation of subsidiary | — | (1,420 | ) | — | (101,299 | ) | ||||||||||
Change in subsidiary tax status | — | 983 | 791 | 9,792 | ||||||||||||
Other, net | (607 | ) | (471 | ) | (1,568 | ) | (395 | ) | ||||||||
Income tax expense | $ | 36,210 | $ | 34,264 | $ | 109,376 | $ | 100,572 | ||||||||
Effective April 1, 2012, Starz Media filed an election to convert itself from a limited liability company (“LLC”) treated as a corporation to a partnership for U.S. federal and state income tax purposes. As a result of the conversion, the Company recognized a capital loss on the deemed liquidation of Starz Media. Based on the relevant accounting literature, the Company had not previously recorded a benefit for the tax basis in the stock of Starz Media. The capital loss of $101.3 million (as tax effected) was carried forward and was recorded as a long term deferred tax asset. The Company did not believe that it was more likely than not that it would be able to generate any capital gains to utilize any of this capital loss carryforward as a stand-alone taxpayer and as such, recorded a full valuation allowance against this capital loss. | ||||||||||||||||
In addition, under current U.S. federal and state tax law, LLCs treated as partnerships are not subject to income tax at the entity level. As such, the election to convert Starz Media to be treated as a partnership for income tax purposes resulted in the reversal of deferred tax assets related to Starz Media's deductible temporary differences of $16.9 million and the reversal of a valuation allowance offsetting these deferred tax assets of $16.9 million. Also, a deferred tax asset of $7.1 million was recorded for the difference between the book basis and the tax basis of the Company's investment in Starz Media as of April 1, 2012. | ||||||||||||||||
The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities at September 30, 2013 and December 31, 2012 are presented below (in thousands): | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Deferred tax assets: | ||||||||||||||||
Tax loss and credit carryforwards | $ | 6,604 | $ | 155,861 | ||||||||||||
Accrued stock compensation | 11,945 | 5,575 | ||||||||||||||
Investments | 33,502 | 25,516 | ||||||||||||||
Investment in films and television programs | — | 1,163 | ||||||||||||||
Other future deductible amounts | — | 219 | ||||||||||||||
Deferred tax assets | 52,051 | 188,334 | ||||||||||||||
Valuation allowance | (706 | ) | (155,861 | ) | ||||||||||||
Deferred tax assets, net | 51,345 | 32,473 | ||||||||||||||
Deferred tax liabilities: | ||||||||||||||||
Property and equipment | (11,733 | ) | (18,807 | ) | ||||||||||||
Investment in films and television programs | (15,628 | ) | — | |||||||||||||
Other future taxable amounts | (1,288 | ) | (454 | ) | ||||||||||||
Deferred tax liabilities | (28,649 | ) | (19,261 | ) | ||||||||||||
Net deferred tax assets | $ | 22,696 | $ | 13,212 | ||||||||||||
In connection with the LMC Spin-Off, deferred tax assets of $157.4 million related to capital loss and foreign tax credit carryforwards were allocated to Liberty Media along with their corresponding valuation allowances of $157.4 million. In addition, state net operating losses, foreign tax credit carryforwards and other attributes of $11.3 million were allocated to Starz, LLC. | ||||||||||||||||
In April 2013, the Internal Revenue Service completed its review of the LMC Spin-Off and notified Starz that it agreed with the nontaxable characterization of the transaction. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Programming Rights | |
On February 11, 2013, Starz announced a new, multi-year output licensing agreement for qualifying films that are released theatrically in the U.S. by Sony Pictures Entertainment Inc.’s (“Sony”) Columbia Pictures, Screen Gems, Sony Pictures Classics and TriStar labels that extends its relationship with Sony through 2021, subject to certain limitations. The previous agreement had covered motion pictures released theatrically through 2016. In addition, Starz, LLC has an exclusive long-term licensing agreement for theatrically released films from the Walt Disney Company (“Disney”) through 2015. The agreement provides Starz, LLC with exclusive pay TV rights to exhibit qualifying theatrically released live-action and animated feature films under the Disney, Touchstone, Pixar and Marvel labels. Theatrically released films produced by DreamWorks are not licensed to Starz, LLC under the agreement. The programming fees to be paid to Sony and Disney are based on the quantity and domestic theatrical exhibition receipts of qualifying films. Starz, LLC has also entered into agreements with a number of other motion picture producers and is obligated to pay fees for the rights to exhibit certain films that are released by these producers. | |
The unpaid balance for film rights related to films that were available at September 30, 2013 is reflected in accrued liabilities and in other liabilities in the accompanying condensed consolidated balance sheets. As of September 30, 2013, such liabilities aggregated approximately $62.0 million and are payable as follows: $51.2 million in 2013, $8.8 million in 2014 and $2.0 million in 2015. | |
Under the agreements with Sony and Disney, Starz, LLC is obligated to pay fees for the rights to exhibit films that have been released theatrically, but are not available for exhibition by Starz, LLC until some future date. The estimated amounts payable under Starz, LLC’s programming license agreements, including the Sony and Disney agreements, which have not been accrued as of September 30, 2013, are as follows: $26.8 million in 2013; $395.8 million in 2014; $108.4 million in 2015; $98.7 million in 2016; $91.9 million in 2017 and $306.0 million thereafter. | |
Starz, LLC is also obligated to pay fees for films that have not yet been released in theaters by Sony and Disney. Starz, LLC is unable to estimate the amounts to be paid under these agreements for films that have not yet been released; however, such amounts are expected to be significant. | |
Total amortization of program rights was $154.4 million, $154.2 million, $442.8 million and $473.3 million for the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2013 and 2012, respectively. These amounts are included in programming costs in the accompanying condensed consolidated statements of operations. | |
Guarantee | |
Starz Media Canada Co. (“Canada Co.”) entered into an agreement with the Ontario government whereby Canada Co. is eligible to receive funds under the Canadian Next Generation of Jobs Fund Grant (“NGOJF”) through the termination date of March 31, 2014. The maximum amount of the grant available and the guarantee in U.S. dollars is $22.3 million. Starz Entertainment entered into a guarantee for any amounts owed to the Ontario government under the grant if Canada Co. does not meet its obligations. The Ontario government can demand payment from Starz Entertainment if Canada Co. does not perform any of its obligations. The maximum potential amount payable under the guarantee is $14.3 million at September 30, 2013 and Starz, LLC has accrued $11.4 million related to this guarantee in accrued liabilities in the accompanying condensed consolidated balance sheet as of September 30, 2013. Starz, LLC sold its controlling interest in Canada Co. on March 3, 2011. The terms of the guarantee have not changed. | |
Legal Proceedings | |
On May 3, 2011, Starz Entertainment filed a lawsuit against DISH Network L.L.C. (“DISH”) in Douglas County, Colorado District Court, 18th Judicial District, alleging that DISH breached its affiliation agreement with Starz Entertainment by providing a free preview for one year of eight of the Starz and Encore channels to a substantial number of DISH customers without Starz Entertainment’s written approval. On May 2, 2011, Disney Enterprises, Inc. filed a lawsuit against DISH in connection with the same free preview in U.S. District Court for the Southern District of New York, seeking damages for copyright infringement. In addition, on July 19, 2011, FX Networks filed a separate lawsuit against DISH and Starz Entertainment in connection with the same free preview in Los Angeles County, California Superior Court, seeking damages for tortious interference with its contracts for studio movie content. DISH filed a counterclaim against Starz Entertainment in the first lawsuit, seeking indemnification from Starz Entertainment against Disney Enterprises, Inc. in the second lawsuit and against FX Networks in the third lawsuit. On April 29, 2013, Starz Entertainment and DISH entered into a confidential settlement agreement with respect to the first lawsuit. In addition, on June 19, 2013, Starz Entertainment and FX Networks entered into a confidential settlement agreement with respect to FX Networks’ claim against Starz Entertainment in the third lawsuit. The Disney Enterprises, Inc. and FX Networks’ lawsuits against DISH have not yet gone to trial. Any potential indemnification obligations of Starz, LLC relating to these remaining matters is uncertain at this time. | |
In the normal course of business, Starz, LLC is subject to lawsuits and other claims. While it is not possible to predict the outcome of these matters, it is the opinion of management, based upon consultation with legal counsel, that the ultimate disposition of known proceedings, other than as discussed above, will not have a material adverse impact on its consolidated financial position, results of operations or liquidity. |
Other_Information
Other Information | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Other Information [Abstract] | ' | |||||||
Other Information | ' | |||||||
Other Information | ||||||||
Accrued Liabilities | ||||||||
Accrued liabilities consist of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Royalties, residuals and participations | $ | 78,886 | $ | 72,139 | ||||
Participations payable to TWC | 79,352 | 23,861 | ||||||
Program rights payable | 59,198 | 57,125 | ||||||
Advertising and marketing | 47,302 | 38,779 | ||||||
Payroll and related costs | 21,731 | 23,657 | ||||||
Accrued compensation related to long term incentive plan | — | 3,195 | ||||||
Other | 34,889 | 37,306 | ||||||
$ | 321,358 | $ | 256,062 | |||||
Supplemental Disclosure of Cash Flow Information | ||||||||
The following table presents the supplemental disclosure of cash flow information (in thousands): | ||||||||
Nine Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
Cash paid for interest, net of amounts capitalized | $ | 40,665 | $ | 12,525 | ||||
Cash paid for income taxes | $ | 135,516 | $ | 126,582 | ||||
Change in deferred tax assets due to sale of noncontrolling interest | $ | — | $ | 2,209 | ||||
Distribution of corporate office building to Old LMC | $ | 45,668 | $ | — | ||||
Capital lease related to Commercial Lease with LPH | $ | 44,800 | $ | — | ||||
Tax attributes related to LMC Spin-Off | $ | 11,253 | $ | — | ||||
Recent Accounting Pronouncements | ||||||||
In July 2013, the Financial Accounting Standards Board amended the Accounting Standards Codification as summarized in Accounting Standards Update (“ASU”) 2013-11 Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements 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 that the deferred tax asset is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 is effective for fiscal years and interim periods beginning after December 15, 2013. Starz does not believe that the amendment will have any significant impact on its condensed consolidated financial statements. |
Information_about_Operating_Se
Information about Operating Segments | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Information about Operating Segments | ' | |||||||||||||||
Information about Operating Segments | ||||||||||||||||
Starz, LLC is primarily engaged in video programming and development, production, acquisition and distribution of entertainment content. Starz, LLC evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as Adjusted OIBDA. Adjusted OIBDA is defined as: revenue less programming costs, production and acquisition costs, home video cost of sales, operating expenses and selling, general and administrative expenses. Starz, LLC’s chief operating decision maker uses this measure of performance in conjunction with other measures to evaluate the operating segments’ performance and make decisions about allocating resources among the operating segments. Starz, LLC believes Adjusted OIBDA is an important indicator of the operational strength and performance of its operating segments, including each operating segment’s ability to assist Starz, LLC in servicing its debt and to fund investments in films and television programs. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between operating segments and identify strategies to improve performance. This measure of performance excludes stock compensation and depreciation and amortization that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, income before income taxes, net income, net cash provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Starz, LLC generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. | ||||||||||||||||
Starz, LLC’s reportable segments are strategic business units that offer different services. They are managed separately because each segment requires different technologies, content delivery methods and marketing strategies. Starz, LLC identifies its reportable segments as those operating segments that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA or total assets. Starz Networks and Starz Distribution have been identified as reportable segments; however, as Starz, LLC has three operating segments, Starz Animation is also reported. | ||||||||||||||||
Performance Measures (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Revenue: | ||||||||||||||||
Starz Networks | $ | 319,857 | $ | 317,892 | $ | 975,643 | $ | 960,994 | ||||||||
Starz Distribution | 117,592 | 75,015 | 365,708 | 223,646 | ||||||||||||
Starz Animation | 8,704 | 10,130 | 22,820 | 31,567 | ||||||||||||
Inter-segment eliminations | (100 | ) | (2,067 | ) | (1,380 | ) | (7,711 | ) | ||||||||
Total Revenue | $ | 446,053 | $ | 400,970 | $ | 1,362,791 | $ | 1,208,496 | ||||||||
Adjusted OIBDA: | ||||||||||||||||
Starz Networks | $ | 106,521 | $ | 111,535 | $ | 337,359 | $ | 326,292 | ||||||||
Starz Distribution | 7,405 | (3,687 | ) | 24,528 | 14,829 | |||||||||||
Starz Animation | (496 | ) | (354 | ) | (1,835 | ) | -507 | |||||||||
Inter-segment eliminations | 289 | 647 | (296 | ) | 2,843 | |||||||||||
Total Adjusted OIBDA | $ | 113,719 | $ | 108,141 | $ | 359,756 | $ | 343,457 | ||||||||
Other Information (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cash paid for investment in films and television programs: | ||||||||||||||||
Starz Networks | $ | 45,498 | $ | 47,420 | $ | 102,187 | $ | 106,005 | ||||||||
Starz Distribution | 64,630 | 18,446 | 115,287 | 88,983 | ||||||||||||
Starz Animation | — | — | — | — | ||||||||||||
Inter-segment eliminations | — | — | — | — | ||||||||||||
Total cash paid for investment in films and television programs | $ | 110,128 | $ | 65,866 | $ | 217,474 | $ | 194,988 | ||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Total assets: | ||||||||||||||||
Starz Networks | $ | 1,270,816 | $ | 2,066,961 | ||||||||||||
Starz Distribution | 196,349 | 118,134 | ||||||||||||||
Starz Animation | 1,907 | 3,225 | ||||||||||||||
Other unallocated assets (primarily cash, deferred taxes and other assets, including the Commercial Lease with LPH) | 81,069 | 33,850 | ||||||||||||||
Inter-segment eliminations | (56,836 | ) | (46,120 | ) | ||||||||||||
Total assets | $ | 1,493,305 | $ | 2,176,050 | ||||||||||||
The following table provides a reconciliation of Adjusted OIBDA to income before income taxes (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Consolidated Adjusted OIBDA | $ | 113,719 | $ | 108,141 | $ | 359,756 | $ | 343,457 | ||||||||
Stock compensation | (8,815 | ) | (3,653 | ) | (25,127 | ) | (9,888 | ) | ||||||||
Depreciation and amortization | (4,148 | ) | (4,980 | ) | (12,917 | ) | (13,787 | ) | ||||||||
Interest expense, net of amounts capitalized | (11,655 | ) | (9,475 | ) | (33,214 | ) | (18,805 | ) | ||||||||
Other income (expense), net | 195 | (487 | ) | (1,798 | ) | 3,680 | ||||||||||
Income before income taxes | $ | 89,296 | $ | 89,546 | $ | 286,700 | $ | 304,657 | ||||||||
Supplemental_Guarantor_Condens
Supplemental Guarantor Condensed Consolidating Financial Information | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Information | ' | |||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Information | ||||||||||||||||||||
As discussed in Note 2, Starz, LLC and Starz Finance Corp. co-issued the Senior Notes and New Notes which are fully and unconditionally guaranteed by Starz Entertainment. Starz Media, Film Roman and other immaterial subsidiaries of Starz, LLC (“Starz Media and Other Businesses”) are not guarantors of the Senior Notes or the New Notes. | ||||||||||||||||||||
The following tables set forth the consolidating financial information of Starz, LLC, which includes the financial information of Starz Entertainment, the guarantor: | ||||||||||||||||||||
Consolidating Balance Sheet Information – As of September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 20,585 | $ | 389 | $ | 9,668 | $ | — | $ | 30,642 | ||||||||||
Restricted cash | — | — | 64,506 | — | 64,506 | |||||||||||||||
Trade accounts receivable, net | 212,319 | — | 35,767 | (101 | ) | 247,985 | ||||||||||||||
Program rights, net | 335,894 | — | — | (1,158 | ) | 334,736 | ||||||||||||||
Deferred income taxes | 471 | 181 | — | — | 652 | |||||||||||||||
Notes receivable from affiliates | 36,268 | — | — | (36,268 | ) | — | ||||||||||||||
Other current assets | 19,327 | 283 | 13,206 | — | 32,816 | |||||||||||||||
Total current assets | 624,864 | 853 | 123,147 | (37,527 | ) | 711,337 | ||||||||||||||
Program rights | 358,010 | — | — | (5,736 | ) | 352,274 | ||||||||||||||
Investment in films and television programs, net | 94,579 | — | 54,169 | — | 148,748 | |||||||||||||||
Property and equipment, net | 46,654 | 43,720 | 409 | — | 90,783 | |||||||||||||||
Deferred income taxes | — | 22,044 | — | — | 22,044 | |||||||||||||||
Goodwill | 131,760 | — | — | — | 131,760 | |||||||||||||||
Other assets, net | 14,949 | 13,573 | 21,410 | (13,573 | ) | 36,359 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,379,183 | — | (1,379,183 | ) | — | ||||||||||||||
Total assets | $ | 1,270,816 | $ | 1,459,373 | $ | 199,135 | $ | (1,436,019 | ) | $ | 1,493,305 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4,331 | $ | 536 | $ | — | $ | — | $ | 4,867 | ||||||||||
Trade accounts payable | 4,543 | — | 1,516 | — | 6,059 | |||||||||||||||
Accrued liabilities | 140,003 | 9,821 | 185,373 | (13,839 | ) | 321,358 | ||||||||||||||
Notes payable due to affiliate | — | — | 36,268 | (36,268 | ) | — | ||||||||||||||
Due to (from) affiliates | (352,101 | ) | 352,188 | (87 | ) | — | — | |||||||||||||
Deferred revenue | 562 | — | 3,695 | — | 4,257 | |||||||||||||||
Total current liabilities | (202,662 | ) | 362,545 | 226,765 | (50,107 | ) | 336,541 | |||||||||||||
Debt | 1,015,043 | 1,031,542 | — | (987,646 | ) | 1,058,939 | ||||||||||||||
Deferred income taxes | 16,798 | (24,103 | ) | — | 7,305 | — | ||||||||||||||
Other liabilities | 5,468 | — | 8,359 | (5,391 | ) | 8,436 | ||||||||||||||
Total liabilities | 834,647 | 1,369,984 | 235,124 | (1,035,839 | ) | 1,403,916 | ||||||||||||||
Member’s interest (deficit) | 436,169 | 95,647 | -35,868 | -400,301 | 95,647 | |||||||||||||||
Noncontrolling interests in subsidiaries | — | (6,258 | ) | (121 | ) | 121 | (6,258 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 436,169 | 89,389 | (35,989 | ) | (400,180 | ) | 89,389 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,270,816 | $ | 1,459,373 | $ | 199,135 | $ | (1,436,019 | ) | $ | 1,493,305 | |||||||||
Consolidating Balance Sheet Information – As of December 31, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 735,507 | $ | 879 | $ | 13,388 | $ | — | $ | 749,774 | ||||||||||
Trade accounts receivable, net | 205,261 | — | 36,204 | (50 | ) | 241,415 | ||||||||||||||
Program rights, net | 341,255 | — | — | (1,250 | ) | 340,005 | ||||||||||||||
Deferred income taxes | 164 | 826 | — | — | 990 | |||||||||||||||
Notes receivable from affiliates | 26,067 | — | — | (26,067 | ) | — | ||||||||||||||
Other current assets | 27,874 | — | 16,853 | — | 44,727 | |||||||||||||||
Total current assets | 1,336,128 | 1,705 | 66,445 | (27,367 | ) | 1,376,911 | ||||||||||||||
Program rights | 344,042 | — | — | (5,358 | ) | 338,684 | ||||||||||||||
Investment in films and television programs, net | 143,583 | — | 38,090 | — | 181,673 | |||||||||||||||
Property and equipment, net | 95,832 | — | 448 | — | 96,280 | |||||||||||||||
Deferred income taxes | — | 12,222 | — | — | 12,222 | |||||||||||||||
Goodwill | 131,760 | — | — | — | 131,760 | |||||||||||||||
Other assets, net | 15,616 | 13,395 | 22,904 | (13,395 | ) | 38,520 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,787,826 | — | (1,787,826 | ) | — | ||||||||||||||
Total assets | $ | 2,066,961 | $ | 1,815,148 | $ | 127,887 | $ | (1,833,946 | ) | $ | 2,176,050 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4,134 | $ | — | $ | — | $ | — | $ | 4,134 | ||||||||||
Trade accounts payable | 4,817 | — | 1,345 | — | 6,162 | |||||||||||||||
Accrued liabilities | 136,434 | 8,235 | 128,059 | (16,666 | ) | 256,062 | ||||||||||||||
Notes payable due to affiliate | — | — | 26,067 | (26,067 | ) | — | ||||||||||||||
Due to (from) affiliates | 20,902 | 20,111 | 3,694 | (5,188 | ) | 39,519 | ||||||||||||||
Deferred revenue | 18,859 | — | 5,989 | (274 | ) | 24,574 | ||||||||||||||
Total current liabilities | 185,146 | 28,346 | 165,154 | (48,195 | ) | 330,451 | ||||||||||||||
Debt | 535,671 | 505,000 | — | (505,000 | ) | 535,671 | ||||||||||||||
Deferred income taxes | 13,060 | (20,342 | ) | — | 7,282 | — | ||||||||||||||
Other liabilities | 4,259 | — | 8,643 | (5,118 | ) | 7,784 | ||||||||||||||
Total liabilities | 738,136 | 513,004 | 173,797 | (551,031 | ) | 873,906 | ||||||||||||||
Member’s interest (deficit) | 1,328,825 | 1,311,951 | (45,789 | ) | (1,283,036 | ) | 1,311,951 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (9,807 | ) | (121 | ) | 121 | (9,807 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 1,328,825 | 1,302,144 | (45,910 | ) | (1,282,915 | ) | 1,302,144 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 2,066,961 | $ | 1,815,148 | $ | 127,887 | $ | (1,833,946 | ) | $ | 2,176,050 | |||||||||
Consolidating Statement of Operations Information – For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 328,752 | $ | — | $ | 53,503 | $ | (1,879 | ) | $ | 380,376 | |||||||||
Home video net sales | 15,002 | — | 53,673 | (2,998 | ) | 65,677 | ||||||||||||||
Total revenue | 343,754 | — | 107,176 | (4,877 | ) | 446,053 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 166,425 | — | — | (389 | ) | 166,036 | ||||||||||||||
Production and acquisition costs (including amortization) | 8,735 | — | 59,207 | — | 67,942 | |||||||||||||||
Home video cost of sales | 8,115 | — | 16,217 | (2,998 | ) | 21,334 | ||||||||||||||
Operating expenses | 6,061 | — | 9,521 | (1,779 | ) | 13,803 | ||||||||||||||
Selling, general and administrative | 45,215 | 950 | 17,054 | — | 63,219 | |||||||||||||||
Stock compensation | 8,309 | 4 | 502 | — | 8,815 | |||||||||||||||
Depreciation and amortization | 3,013 | 373 | 762 | — | 4,148 | |||||||||||||||
Total costs and expenses | 245,873 | 1,327 | 103,263 | (5,166 | ) | 345,297 | ||||||||||||||
Operating income (loss) | 97,881 | (1,327 | ) | 3,913 | 289 | 100,756 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (10,916 | ) | (11,836 | ) | (28 | ) | 11,125 | (11,655 | ) | |||||||||||
Interest income (expense), related party | 543 | — | (543 | ) | — | — | ||||||||||||||
Other income (expense), net | 22 | (12 | ) | (251 | ) | 436 | 195 | |||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 87,530 | (13,175 | ) | 3,091 | 11,850 | 89,296 | ||||||||||||||
Income tax benefit (expense) | (35,096 | ) | 2,857 | (314 | ) | (3,657 | ) | (36,210 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 63,404 | — | (63,404 | ) | — | ||||||||||||||
Net income | 52,434 | 53,086 | 2,777 | (55,211 | ) | 53,086 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (842 | ) | — | — | (842 | ) | |||||||||||||
Net income attributable to member | $ | 52,434 | $ | 52,244 | $ | 2,777 | $ | (55,211 | ) | $ | 52,244 | |||||||||
Consolidating Statement of Comprehensive Income Information – For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 52,434 | $ | 53,086 | $ | 2,777 | $ | (55,211 | ) | $ | 53,086 | |||||||||
Other comprehensive income, net of taxes | ||||||||||||||||||||
Foreign currency translation adjustments | — | 189 | 119 | (119 | ) | 189 | ||||||||||||||
Comprehensive income | 52,434 | 53,275 | 2,896 | (55,330 | ) | 53,275 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (919 | ) | — | — | (919 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 52,434 | $ | 52,356 | $ | 2,896 | $ | (55,330 | ) | $ | 52,356 | |||||||||
Consolidating Statement of Operations Information – For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 322,086 | $ | — | $ | 26,937 | $ | (2,777 | ) | $ | 346,246 | |||||||||
Home video net sales | 12,822 | — | 44,466 | (2,564 | ) | 54,724 | ||||||||||||||
Total revenue | 334,908 | — | 71,403 | (5,341 | ) | 400,970 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 165,359 | — | — | (938 | ) | 164,421 | ||||||||||||||
Production and acquisition costs (including amortization) | 7,941 | — | 34,228 | — | 42,169 | |||||||||||||||
Home video cost of sales | 6,657 | — | 14,940 | (2,564 | ) | 19,033 | ||||||||||||||
Operating expenses | 3,984 | — | 11,002 | (2,485 | ) | 12,501 | ||||||||||||||
Selling, general and administrative | 40,276 | 74 | 14,355 | — | 54,705 | |||||||||||||||
Stock compensation | 3,315 | — | 338 | — | 3,653 | |||||||||||||||
Depreciation and amortization | 3,149 | — | 1,831 | — | 4,980 | |||||||||||||||
Total costs and expenses | 230,681 | 74 | 76,694 | (5,987 | ) | 301,462 | ||||||||||||||
Operating income (loss) | 104,227 | (74 | ) | (5,291 | ) | 646 | 99,508 | |||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (9,431 | ) | (7,408 | ) | (44 | ) | 7,408 | (9,475 | ) | |||||||||||
Interest income (expense), related party | 1,427 | — | (1,427 | ) | — | — | ||||||||||||||
Other income (expense), net | (461 | ) | 52 | (1,674 | ) | 1,596 | (487 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 95,762 | (7,430 | ) | (8,436 | ) | 9,650 | 89,546 | |||||||||||||
Income tax benefit (expense) | (35,562 | ) | 7,069 | (2,574 | ) | (3,197 | ) | (34,264 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 55,643 | — | (55,643 | ) | — | ||||||||||||||
Net income (loss) | 60,200 | 55,282 | (11,010 | ) | (49,190 | ) | 55,282 | |||||||||||||
Net loss (income) attributable to noncontrolling interests | — | 1,142 | (12 | ) | 12 | 1,142 | ||||||||||||||
Net income (loss) attributable to member | $ | 60,200 | $ | 56,424 | $ | (11,022 | ) | $ | (49,178 | ) | $ | 56,424 | ||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 60,200 | $ | 55,282 | $ | (11,010 | ) | $ | (49,190 | ) | $ | 55,282 | ||||||||
Other comprehensive income, net of taxes | ||||||||||||||||||||
Foreign currency translation adjustments | — | 332 | 332 | (332 | ) | 332 | ||||||||||||||
Comprehensive income (loss) | 60,200 | 55,614 | (10,678 | ) | (49,522 | ) | 55,614 | |||||||||||||
Comprehensive loss (income) attributable to noncontrolling interests | — | 402 | (12 | ) | 12 | 402 | ||||||||||||||
Comprehensive income (loss) attributable to member | $ | 60,200 | $ | 56,016 | $ | (10,690 | ) | $ | (49,510 | ) | $ | 56,016 | ||||||||
Consolidating Statement of Operations Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 1,003,488 | $ | — | $ | 124,332 | $ | (6,875 | ) | $ | 1,120,945 | |||||||||
Home video net sales | 27,134 | — | 220,128 | (5,416 | ) | 241,846 | ||||||||||||||
Total revenue | 1,030,622 | — | 344,460 | (12,291 | ) | 1,362,791 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 478,444 | — | — | (1,084 | ) | 477,360 | ||||||||||||||
Production and acquisition costs (including amortization) | 20,564 | — | 200,435 | — | 220,999 | |||||||||||||||
Home video cost of sales | 15,062 | — | 41,904 | (5,416 | ) | 51,550 | ||||||||||||||
Operating expenses | 18,277 | — | 26,143 | (5,495 | ) | 38,925 | ||||||||||||||
Selling, general and administrative | 151,708 | 3,902 | 58,591 | — | 214,201 | |||||||||||||||
Stock compensation | 22,871 | 858 | 1,398 | — | 25,127 | |||||||||||||||
Depreciation and amortization | 9,526 | 1,080 | 2,311 | — | 12,917 | |||||||||||||||
Total costs and expenses | 716,452 | 5,840 | 330,782 | (11,995 | ) | 1,041,079 | ||||||||||||||
Operating income (loss) | 314,170 | (5,840 | ) | 13,678 | (296 | ) | 321,712 | |||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (31,069 | ) | (34,200 | ) | (83 | ) | 32,138 | (33,214 | ) | |||||||||||
Interest income (expense), related party | 1,358 | — | (1,358 | ) | — | — | ||||||||||||||
Other income (expense), net | (2,166 | ) | 10 | (2,516 | ) | 2,874 | (1,798 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 282,293 | (40,030 | ) | 9,721 | 34,716 | 286,700 | ||||||||||||||
Income tax benefit (expense) | (106,944 | ) | 10,689 | (1,003 | ) | (12,118 | ) | (109,376 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 206,665 | — | (206,665 | ) | — | ||||||||||||||
Net income | 175,349 | 177,324 | 8,718 | (184,067 | ) | 177,324 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (3,328 | ) | — | — | (3,328 | ) | |||||||||||||
Net income attributable to member | $ | 175,349 | $ | 173,996 | $ | 8,718 | $ | (184,067 | ) | $ | 173,996 | |||||||||
Consolidating Statement of Comprehensive Income Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 175,349 | $ | 177,324 | $ | 8,718 | $ | (184,067 | ) | $ | 177,324 | |||||||||
Other comprehensive income (loss), net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 54 | (21 | ) | 21 | 54 | ||||||||||||||
Comprehensive income | 175,349 | 177,378 | 8,697 | (184,046 | ) | 177,378 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (3,265 | ) | — | — | (3,265 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 175,349 | $ | 174,113 | $ | 8,697 | $ | (184,046 | ) | $ | 174,113 | |||||||||
Consolidating Statement of Operations Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 985,039 | $ | — | $ | 101,388 | $ | (11,303 | ) | $ | 1,075,124 | |||||||||
Home video net sales | 20,900 | — | 116,652 | (4,180 | ) | 133,372 | ||||||||||||||
Total revenue | 1,005,939 | — | 218,040 | (15,483 | ) | 1,208,496 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 509,524 | — | — | (4,850 | ) | 504,674 | ||||||||||||||
Production and acquisition costs (including amortization) | 18,831 | — | 98,641 | 145 | 117,617 | |||||||||||||||
Home video cost of sales | 10,765 | — | 33,676 | (4,180 | ) | 40,261 | ||||||||||||||
Operating expenses | 14,281 | — | 34,036 | (9,441 | ) | 38,876 | ||||||||||||||
Selling, general and administrative | 119,296 | 94 | 44,221 | — | 163,611 | |||||||||||||||
Stock compensation | 9,009 | — | 879 | — | 9,888 | |||||||||||||||
Depreciation and amortization | 9,487 | — | 4,300 | — | 13,787 | |||||||||||||||
Total costs and expenses | 691,193 | 94 | 215,753 | (18,326 | ) | 888,714 | ||||||||||||||
Operating income (loss) | 314,746 | (94 | ) | 2,287 | 2,843 | 319,782 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (18,689 | ) | (15,924 | ) | (116 | ) | 15,924 | (18,805 | ) | |||||||||||
Interest income (expense), related party | 3,906 | — | (3,906 | ) | — | — | ||||||||||||||
Other income (expense), net | 2,735 | 974 | (2,015 | ) | 1,986 | 3,680 | ||||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 302,698 | (15,044 | ) | (3,750 | ) | 20,753 | 304,657 | |||||||||||||
Income tax benefit (expense) | (111,092 | ) | 17,225 | 600 | (7,305 | ) | (100,572 | ) | ||||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 201,904 | — | (201,904 | ) | — | ||||||||||||||
Net income (loss) | 191,606 | 204,085 | (3,150 | ) | (188,456 | ) | 204,085 | |||||||||||||
Net loss (income) attributable to noncontrolling interests | — | (1,154 | ) | 96 | (96 | ) | (1,154 | ) | ||||||||||||
Net income (loss) attributable to member | $ | 191,606 | $ | 202,931 | $ | (3,054 | ) | $ | (188,552 | ) | $ | 202,931 | ||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 191,606 | $ | 204,085 | $ | (3,150 | ) | $ | (188,456 | ) | $ | 204,085 | ||||||||
Other comprehensive income, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 322 | 322 | (322 | ) | 322 | ||||||||||||||
Comprehensive income (loss) | 191,606 | 204,407 | (2,828 | ) | (188,778 | ) | 204,407 | |||||||||||||
Comprehensive loss (income) attributable to noncontrolling interests | — | (1,908 | ) | 96 | (96 | ) | (1,908 | ) | ||||||||||||
Comprehensive income (loss) attributable to member | $ | 191,606 | $ | 202,499 | $ | (2,732 | ) | $ | (188,874 | ) | $ | 202,499 | ||||||||
Consolidating Statement of Cash Flows’ Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net income | $ | 175,349 | $ | 177,324 | $ | 8,718 | $ | (184,067 | ) | $ | 177,324 | |||||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 9,526 | 1,080 | 2,311 | — | 12,917 | |||||||||||||||
Amortization of program rights | 443,881 | — | — | (1,084 | ) | 442,797 | ||||||||||||||
Program rights payments | (324,550 | ) | — | — | 1,330 | (323,220 | ) | |||||||||||||
Amortization of investment in films and television programs | 19,144 | — | 153,733 | — | 172,877 | |||||||||||||||
Investment in films and television programs | (102,187 | ) | — | (115,287 | ) | — | (217,474 | ) | ||||||||||||
Stock compensation | 22,871 | 858 | 1,398 | — | 25,127 | |||||||||||||||
Payments of long term incentive plan | (3,195 | ) | — | — | — | (3,195 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (206,665 | ) | — | 206,665 | — | ||||||||||||||
Deferred income taxes | 3,431 | (655 | ) | — | 23 | 2,799 | ||||||||||||||
Other non-cash items | 2,259 | 1,816 | 7,399 | (1,816 | ) | 9,658 | ||||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | 9,461 | (283 | ) | (68,449 | ) | 2 | (59,269 | ) | ||||||||||||
Due to / from affiliates | (79,252 | ) | 43,501 | (3,768 | ) | — | (39,519 | ) | ||||||||||||
Payables and other liabilities | 22,057 | (12,249 | ) | 438 | (21,053 | ) | (10,807 | ) | ||||||||||||
Net cash provided by (used in) operating activities | 198,795 | 4,727 | (13,507 | ) | — | 190,015 | ||||||||||||||
Investing activities – purchases of property and equipment | (6,071 | ) | — | (94 | ) | — | (6,165 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 1,081,000 | — | — | 1,081,000 | |||||||||||||||
Payments of debt | (3,077 | ) | (598,368 | ) | — | — | (601,445 | ) | ||||||||||||
Debt issuance costs | — | (2,348 | ) | — | — | (2,348 | ) | |||||||||||||
Distributions to Liberty Media | — | (1,200,000 | ) | — | — | (1,200,000 | ) | |||||||||||||
Distributions to parent for repurchase of common stock | — | (179,197 | ) | — | — | (179,197 | ) | |||||||||||||
Distributions to parent | (600,000 | ) | 600,000 | — | — | — | ||||||||||||||
Borrowings under notes payable to affiliate | (48,507 | ) | — | 48,507 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 38,257 | — | (38,257 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (293,696 | ) | 293,696 | — | — | — | ||||||||||||||
Minimum withholding of taxes related to stock compensation | (2,719 | ) | — | (242 | ) | — | (2,961 | ) | ||||||||||||
Excess tax benefit from stock compensation | 2,096 | — | — | — | 2,096 | |||||||||||||||
Net cash provided by (used in) financing activities | (907,646 | ) | (5,217 | ) | 10,008 | — | (902,855 | ) | ||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (127 | ) | — | (127 | ) | |||||||||||||
Net decrease in cash and cash equivalents | (714,922 | ) | (490 | ) | (3,720 | ) | — | (719,132 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 735,507 | 879 | 13,388 | — | 749,774 | |||||||||||||||
End of period | $ | 20,585 | $ | 389 | $ | 9,668 | $ | — | $ | 30,642 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (2,476 | ) | $ | 41,651 | $ | 1,490 | $ | — | $ | 40,665 | |||||||||
Cash paid for income taxes | $ | 136,405 | $ | (814 | ) | $ | (75 | ) | $ | — | $ | 135,516 | ||||||||
Distribution of corporate headquarters to Liberty Media | $ | 45,668 | $ | — | $ | — | $ | — | $ | 45,668 | ||||||||||
Capital lease related to Commercial Lease with LPH | $ | — | $ | 44,800 | $ | — | $ | — | $ | 44,800 | ||||||||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11,253 | $ | — | $ | — | $ | 11,253 | ||||||||||
Consolidating Statement of Cash Flows’ Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net income (loss) | $ | 191,606 | $ | 204,085 | $ | (3,150 | ) | $ | (188,456 | ) | $ | 204,085 | ||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 9,487 | — | 4,300 | — | 13,787 | |||||||||||||||
Amortization of program rights | 478,101 | — | — | (4,850 | ) | 473,251 | ||||||||||||||
Program rights payments | (367,901 | ) | — | — | 1,520 | (366,381 | ) | |||||||||||||
Amortization of investment in films and television programs | 15,331 | — | 71,411 | — | 86,742 | |||||||||||||||
Investment in films and television programs | (106,005 | ) | — | (88,983 | ) | — | (194,988 | ) | ||||||||||||
Stock compensation | 9,009 | — | 879 | — | 9,888 | |||||||||||||||
Payments of long term incentive plan | (33,410 | ) | — | — | — | (33,410 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (201,904 | ) | — | 201,904 | — | ||||||||||||||
Deferred income taxes | (3,947 | ) | (8,495 | ) | — | 9,177 | (3,265 | ) | ||||||||||||
Other non-cash items | 13,315 | 4,406 | (1,833 | ) | (15,011 | ) | 877 | |||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (456 | ) | — | (5,572 | ) | (156 | ) | (6,184 | ) | |||||||||||
Due to / from affiliates | (19,598 | ) | 3,859 | 2,601 | (2,418 | ) | (15,556 | ) | ||||||||||||
Payables and other liabilities | 5,087 | 1,309 | (2,440 | ) | (1,710 | ) | 2,246 | |||||||||||||
Net cash provided by (used in) operating activities | 190,619 | 3,260 | (22,787 | ) | — | 171,092 | ||||||||||||||
Investing activities – purchases of property and equipment | (7,751 | ) | — | (119 | ) | — | (7,870 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | 0 | 500,000 | — | — | 500,000 | |||||||||||||||
Payments of debt | (3,035 | ) | (500,000 | ) | — | — | (503,035 | ) | ||||||||||||
Debt issuance costs | — | (8,007 | ) | — | — | (8,007 | ) | |||||||||||||
Distributions to Old LMC | 0 | (400,000 | ) | — | — | (400,000 | ) | |||||||||||||
Distributions to parent | (100,000 | ) | 100,000 | — | — | — | ||||||||||||||
Distributions to Old LMC related to stock compensation | (2,024 | ) | — | — | — | (2,024 | ) | |||||||||||||
Borrowings under notes payable to affiliate | (39,779 | ) | — | 39,779 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 19,064 | — | (19,064 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (180,297 | ) | 180,537 | (240 | ) | — | — | |||||||||||||
Minimum withholding of taxes related to stock compensation | (3,465 | ) | — | (178 | ) | — | (3,643 | ) | ||||||||||||
Settlement of derivative instruments | 3 | — | — | — | 3 | |||||||||||||||
Net cash provided by (used in) financing activities | (309,533 | ) | (127,470 | ) | 20,297 | — | (416,706 | ) | ||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | 59 | — | 59 | |||||||||||||||
Net decrease in cash and cash equivalents | (126,665 | ) | (124,210 | ) | (2,550 | ) | — | (253,425 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 965,400 | 125,261 | 9,226 | — | 1,099,887 | |||||||||||||||
End of period | $ | 838,735 | $ | 1,051 | $ | 6,676 | $ | — | $ | 846,462 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | 1,820 | $ | 10,596 | $ | 109 | $ | — | $ | 12,525 | ||||||||||
Cash paid for income taxes | $ | 122,150 | $ | — | $ | 4,432 | $ | — | $ | 126,582 | ||||||||||
Change in deferred tax assets due to sale of noncontrolling interest | $ | — | $ | 2,209 | $ | — | $ | — | $ | 2,209 | ||||||||||
Basis_of_Presentation_and_Desc1
Basis of Presentation and Description of Business Basis of Presentation and Description of Business (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Starz, LLC considers amortization of program rights, the fair value of goodwill and any related impairment, the development of ultimate revenue estimates associated with released films and television programs, the assessment of investment in films and television programs for impairment, valuation allowances associated with deferred income taxes and allowances for sales returns to be its most significant estimates. Actual results may differ from those estimates. | |
Comparability of Prior Year Financial Data, Policy [Policy Text Block] | ' |
Prior Period Reclassifications | |
Certain prior period amounts have been reclassified for comparability with the 2013 presentation. |
Debt_Tables
Debt (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Debt | ' | |||||||
Debt consists of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Senior Secured Credit Facilities (a) | $ | 309,500 | $ | 5,000 | ||||
Senior Notes and New Notes, including premium of $3,146 and none (b) | 678,146 | 500,000 | ||||||
Capital leases (c) | 76,160 | 34,805 | ||||||
Total debt | 1,063,806 | 539,805 | ||||||
Less current portion of debt | (4,867 | ) | (4,134 | ) | ||||
Debt | $ | 1,058,939 | $ | 535,671 | ||||
(a) | On November 16, 2011, Starz, LLC entered into a credit agreement that provides a $1,000.0 million revolving credit facility, with a $50.0 million sub-limit for standby letters of credit, and a $500.0 million term loan facility (the “Senior Secured Credit Facilities”). At closing, Starz, LLC borrowed $500.0 million under the term loan facility and $5.0 million under the revolving credit facility. Net proceeds from the Senior Notes, as defined below, and cash on hand were used to repay and terminate the term loan facility in September 2012. Borrowings under the revolving credit facility may be prepaid at any time and from time to time without penalty other than customary breakage costs. Any amounts prepaid on the revolving credit facility may be reborrowed. The revolving credit facility is scheduled to mature on November 16, 2016. As of September 30, 2013, $690.5 million of borrowing capacity was available under the revolving credit facility. | |||||||
Interest on each loan under the Senior Secured Credit Facilities is payable at either an alternate base rate or LIBOR at Starz, LLC’s election. Borrowings that are alternate base rate loans bear interest at a per annum rate equal to the alternate base rate plus a margin that varies between 0.5% and 1.5% depending on the consolidated leverage ratio, as defined in the Senior Secured Credit Facilities. The alternate base rate is the highest of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus ½ of 1.0% or (c) LIBOR for a one-month interest period plus 1.0%. Borrowings that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin that varies between 1.5% and 2.5% depending on the consolidated leverage ratio. The Senior Secured Credit Facilities require Starz, LLC to pay a commitment fee on any unused portion under the revolving credit facility. The commitment fee varies between 0.25% and 0.50%, depending on the consolidated leverage ratio. | ||||||||
As of September 30, 2013, the following borrowings and related LIBOR interest rates plus the applicable margin were outstanding under the Senior Secured Credit Facilities (dollars in thousands): | ||||||||
LIBOR rate period: | Interest Rate | Loan Amount | ||||||
September 2013 - October 2013 | 1.93% | $ | 259,500 | |||||
September 2013 - October 2013 | 1.93% | 50,000 | ||||||
$ | 309,500 | |||||||
The Senior Secured Credit Facilities contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens or guarantees, or making certain distributions, investments and other restricted payments. In addition, Starz, LLC must comply with certain financial covenants, including a consolidated leverage ratio, as defined in the agreement. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Secured Credit Facilities. | ||||||||
(b) | On September 13, 2012, Starz, LLC and Starz Finance Corp. co-issued $500.0 million aggregate principal amount of 5.0% senior notes due September 15, 2019 (the “Senior Notes”). The Senior Notes bear interest at a rate of 5.0% payable semi-annually on September 15 and March 15 of each year. Starz Finance Corp. is a wholly-owned subsidiary of Starz, LLC and was formed for the sole purpose of co-issuing the Senior Notes. Starz Finance Corp. does not have and will not have any operations, assets or subsidiaries of its own. The Senior Notes are guaranteed by Starz Entertainment. The net proceeds from the issuance of the Senior Notes and cash on hand were used to repay and terminate the $500.0 million term loan facility under the Senior Secured Credit Facilities. On February 14, 2013, Starz, LLC completed an exchange offer, exchanging the majority of the unregistered Senior Notes for new registered Senior Notes. The new registered Senior Notes are substantially identical to the original Senior Notes, except the new registered Senior Notes are registered under the Securities Act of 1933, as amended (the “Securities Act”), and the transfer restrictions and registration rights, and related special interest provisions applicable to the original Senior Notes will not apply to the new registered Senior Notes. | |||||||
On February 8, 2013, Starz, LLC and Starz Finance Corp. completed the issuance of an additional $175.0 million aggregate principal amount of 5.0% senior notes due 2019 (the “New Notes”), which were issued as additional notes under the indenture governing the Senior Notes. The net proceeds from the issuance of the New Notes were used to repay indebtedness under the revolving portion of the Senior Secured Credit Facilities. The New Notes were issued at a price of 102.0% plus accrued interest from September 13, 2012. On May 24, 2013, Starz, LLC completed an exchange offer, exchanging the unregistered New Notes for new registered New Notes. The new registered New Notes are substantially identical to the original New Notes, except the new registered New Notes are registered under the Securities Act and the transfer restrictions and registration rights, and related special interest provisions applicable to the original New Notes will not apply to the new registered New Notes. | ||||||||
The Senior Notes and New Notes rank equally in right of payment to all existing and future senior obligations and existing and future subordinated obligations. The Senior Notes and New Notes are effectively subordinated to any existing and future secured obligations and to all the liabilities of the subsidiaries that do not guarantee the Senior Notes or New Notes. | ||||||||
The Senior Notes and New Notes contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens and guarantees, or making certain distributions, investments and other restricted payments. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Notes and New Notes. | ||||||||
(c) | On January 11, 2013, Starz, LLC entered into the Commercial Lease with LPH for its headquarters building. The term of the lease is ten years, with successive five-year renewal periods at the option of Starz, LLC. Starz, LLC has recorded a $44.8 million capital lease in connection with this lease agreement with an imputed annual interest rate of 6.4%. | |||||||
Starz Entertainment has entered into capital lease agreements for its transponder capacity. The agreements expire during 2018 to 2021 and have imputed annual interest rates ranging from 5.5% to 7.0%. |
Stock_Options_and_Long_Term_In1
Stock Options and Long Term Incentive Plan (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Schedule of Share-based Compensation, Historical Award Activity | ' | ||||||
Awards granted during the nine months ended September 30, 2013 are summarized as follows: | |||||||
Granted | Weighted | ||||||
Average Grant-Date Fair Value | |||||||
2013 Awards: | |||||||
Stock options | 6,030,106 | $7.61 | |||||
Restricted stock | 310,502 | $18.97 | |||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | ||||||
The following table presents the number of options and weighted average exercise price (“WAEP”) for the activity during the nine months ended September 30, 2013: | |||||||
Options | WAEP | ||||||
Outstanding at December 31, 2012 | 1,615,711 | $ | 93.14 | ||||
LMC Spin-Off adjustment to existing stock options | 7,589,815 | * | |||||
Granted | 6,030,106 | $ | 18.93 | ||||
Exercised | (536,593 | ) | $ | 11.18 | |||
Forfeited | (268,612 | ) | $ | 11.11 | |||
Expired/canceled | — | $ | — | ||||
Outstanding at September 30, 2013 | 14,430,427 | $ | 14.7 | ||||
Exercisable at September 30, 2013 | 2,174,965 | $ | 12.23 | ||||
* The adjustment to the existing stock options from the LMC Spin-Off increased the number of existing stock options and reduced the WAEP. After giving effect to the LMC Spin-Off, the WAEP for the existing stock options was $11.62. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | |||||||||||||||
Income tax expense consists of the following (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Current: | ||||||||||||||||
Federal | $ | 42,508 | $ | 35,464 | $ | 99,540 | $ | 101,762 | ||||||||
State and local | 2,865 | 3,232 | 5,383 | 1,006 | ||||||||||||
Foreign | 725 | 140 | 1,654 | 1,069 | ||||||||||||
46,098 | 38,836 | 106,577 | 103,837 | |||||||||||||
Deferred: | ||||||||||||||||
Federal | (9,995 | ) | (4,517 | ) | (1,861 | ) | (18,070 | ) | ||||||||
State and local | 107 | (55 | ) | 4,660 | 14,805 | |||||||||||
(9,888 | ) | (4,572 | ) | 2,799 | (3,265 | ) | ||||||||||
Income tax expense | $ | 36,210 | $ | 34,264 | $ | 109,376 | $ | 100,572 | ||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||||||||
Income tax expense differs from the amounts computed by applying the U.S. federal income tax rate of 35% as a result of the following (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Computed expected tax expense | $ | 31,254 | $ | 31,761 | $ | 100,345 | $ | 106,791 | ||||||||
State and local income taxes, net of federal income taxes | 2,138 | 1,868 | 6,613 | 8,607 | ||||||||||||
Foreign taxes, net of foreign tax credit | 8 | (475 | ) | 908 | (395 | ) | ||||||||||
Change in valuation allowance affecting tax expense | 3,417 | 2,018 | 2,287 | 77,471 | ||||||||||||
Taxable liquidation of subsidiary | — | (1,420 | ) | — | (101,299 | ) | ||||||||||
Change in subsidiary tax status | — | 983 | 791 | 9,792 | ||||||||||||
Other, net | (607 | ) | (471 | ) | (1,568 | ) | (395 | ) | ||||||||
Income tax expense | $ | 36,210 | $ | 34,264 | $ | 109,376 | $ | 100,572 | ||||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||||||
The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities at September 30, 2013 and December 31, 2012 are presented below (in thousands): | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Deferred tax assets: | ||||||||||||||||
Tax loss and credit carryforwards | $ | 6,604 | $ | 155,861 | ||||||||||||
Accrued stock compensation | 11,945 | 5,575 | ||||||||||||||
Investments | 33,502 | 25,516 | ||||||||||||||
Investment in films and television programs | — | 1,163 | ||||||||||||||
Other future deductible amounts | — | 219 | ||||||||||||||
Deferred tax assets | 52,051 | 188,334 | ||||||||||||||
Valuation allowance | (706 | ) | (155,861 | ) | ||||||||||||
Deferred tax assets, net | 51,345 | 32,473 | ||||||||||||||
Deferred tax liabilities: | ||||||||||||||||
Property and equipment | (11,733 | ) | (18,807 | ) | ||||||||||||
Investment in films and television programs | (15,628 | ) | — | |||||||||||||
Other future taxable amounts | (1,288 | ) | (454 | ) | ||||||||||||
Deferred tax liabilities | (28,649 | ) | (19,261 | ) | ||||||||||||
Net deferred tax assets | $ | 22,696 | $ | 13,212 | ||||||||||||
Other_Information_Tables
Other Information (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Other Information [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued liabilities consist of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Royalties, residuals and participations | $ | 78,886 | $ | 72,139 | ||||
Participations payable to TWC | 79,352 | 23,861 | ||||||
Program rights payable | 59,198 | 57,125 | ||||||
Advertising and marketing | 47,302 | 38,779 | ||||||
Payroll and related costs | 21,731 | 23,657 | ||||||
Accrued compensation related to long term incentive plan | — | 3,195 | ||||||
Other | 34,889 | 37,306 | ||||||
$ | 321,358 | $ | 256,062 | |||||
Schedule of Cash Flow, Supplemental Disclosures | ' | |||||||
The following table presents the supplemental disclosure of cash flow information (in thousands): | ||||||||
Nine Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
Cash paid for interest, net of amounts capitalized | $ | 40,665 | $ | 12,525 | ||||
Cash paid for income taxes | $ | 135,516 | $ | 126,582 | ||||
Change in deferred tax assets due to sale of noncontrolling interest | $ | — | $ | 2,209 | ||||
Distribution of corporate office building to Old LMC | $ | 45,668 | $ | — | ||||
Capital lease related to Commercial Lease with LPH | $ | 44,800 | $ | — | ||||
Tax attributes related to LMC Spin-Off | $ | 11,253 | $ | — | ||||
Information_about_Operating_Se1
Information about Operating Segments (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||
Performance Measures (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Revenue: | ||||||||||||||||
Starz Networks | $ | 319,857 | $ | 317,892 | $ | 975,643 | $ | 960,994 | ||||||||
Starz Distribution | 117,592 | 75,015 | 365,708 | 223,646 | ||||||||||||
Starz Animation | 8,704 | 10,130 | 22,820 | 31,567 | ||||||||||||
Inter-segment eliminations | (100 | ) | (2,067 | ) | (1,380 | ) | (7,711 | ) | ||||||||
Total Revenue | $ | 446,053 | $ | 400,970 | $ | 1,362,791 | $ | 1,208,496 | ||||||||
Adjusted OIBDA: | ||||||||||||||||
Starz Networks | $ | 106,521 | $ | 111,535 | $ | 337,359 | $ | 326,292 | ||||||||
Starz Distribution | 7,405 | (3,687 | ) | 24,528 | 14,829 | |||||||||||
Starz Animation | (496 | ) | (354 | ) | (1,835 | ) | -507 | |||||||||
Inter-segment eliminations | 289 | 647 | (296 | ) | 2,843 | |||||||||||
Total Adjusted OIBDA | $ | 113,719 | $ | 108,141 | $ | 359,756 | $ | 343,457 | ||||||||
Other Information (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cash paid for investment in films and television programs: | ||||||||||||||||
Starz Networks | $ | 45,498 | $ | 47,420 | $ | 102,187 | $ | 106,005 | ||||||||
Starz Distribution | 64,630 | 18,446 | 115,287 | 88,983 | ||||||||||||
Starz Animation | — | — | — | — | ||||||||||||
Inter-segment eliminations | — | — | — | — | ||||||||||||
Total cash paid for investment in films and television programs | $ | 110,128 | $ | 65,866 | $ | 217,474 | $ | 194,988 | ||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Total assets: | ||||||||||||||||
Starz Networks | $ | 1,270,816 | $ | 2,066,961 | ||||||||||||
Starz Distribution | 196,349 | 118,134 | ||||||||||||||
Starz Animation | 1,907 | 3,225 | ||||||||||||||
Other unallocated assets (primarily cash, deferred taxes and other assets, including the Commercial Lease with LPH) | 81,069 | 33,850 | ||||||||||||||
Inter-segment eliminations | (56,836 | ) | (46,120 | ) | ||||||||||||
Total assets | $ | 1,493,305 | $ | 2,176,050 | ||||||||||||
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated | ' | |||||||||||||||
The following table provides a reconciliation of Adjusted OIBDA to income before income taxes (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Consolidated Adjusted OIBDA | $ | 113,719 | $ | 108,141 | $ | 359,756 | $ | 343,457 | ||||||||
Stock compensation | (8,815 | ) | (3,653 | ) | (25,127 | ) | (9,888 | ) | ||||||||
Depreciation and amortization | (4,148 | ) | (4,980 | ) | (12,917 | ) | (13,787 | ) | ||||||||
Interest expense, net of amounts capitalized | (11,655 | ) | (9,475 | ) | (33,214 | ) | (18,805 | ) | ||||||||
Other income (expense), net | 195 | (487 | ) | (1,798 | ) | 3,680 | ||||||||||
Income before income taxes | $ | 89,296 | $ | 89,546 | $ | 286,700 | $ | 304,657 | ||||||||
Supplemental_Guarantor_Condens1
Supplemental Guarantor Condensed Consolidating Financial Information (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of Condensed Balance Sheet | ' | |||||||||||||||||||
The following tables set forth the consolidating financial information of Starz, LLC, which includes the financial information of Starz Entertainment, the guarantor: | ||||||||||||||||||||
Consolidating Balance Sheet Information – As of September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 20,585 | $ | 389 | $ | 9,668 | $ | — | $ | 30,642 | ||||||||||
Restricted cash | — | — | 64,506 | — | 64,506 | |||||||||||||||
Trade accounts receivable, net | 212,319 | — | 35,767 | (101 | ) | 247,985 | ||||||||||||||
Program rights, net | 335,894 | — | — | (1,158 | ) | 334,736 | ||||||||||||||
Deferred income taxes | 471 | 181 | — | — | 652 | |||||||||||||||
Notes receivable from affiliates | 36,268 | — | — | (36,268 | ) | — | ||||||||||||||
Other current assets | 19,327 | 283 | 13,206 | — | 32,816 | |||||||||||||||
Total current assets | 624,864 | 853 | 123,147 | (37,527 | ) | 711,337 | ||||||||||||||
Program rights | 358,010 | — | — | (5,736 | ) | 352,274 | ||||||||||||||
Investment in films and television programs, net | 94,579 | — | 54,169 | — | 148,748 | |||||||||||||||
Property and equipment, net | 46,654 | 43,720 | 409 | — | 90,783 | |||||||||||||||
Deferred income taxes | — | 22,044 | — | — | 22,044 | |||||||||||||||
Goodwill | 131,760 | — | — | — | 131,760 | |||||||||||||||
Other assets, net | 14,949 | 13,573 | 21,410 | (13,573 | ) | 36,359 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,379,183 | — | (1,379,183 | ) | — | ||||||||||||||
Total assets | $ | 1,270,816 | $ | 1,459,373 | $ | 199,135 | $ | (1,436,019 | ) | $ | 1,493,305 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4,331 | $ | 536 | $ | — | $ | — | $ | 4,867 | ||||||||||
Trade accounts payable | 4,543 | — | 1,516 | — | 6,059 | |||||||||||||||
Accrued liabilities | 140,003 | 9,821 | 185,373 | (13,839 | ) | 321,358 | ||||||||||||||
Notes payable due to affiliate | — | — | 36,268 | (36,268 | ) | — | ||||||||||||||
Due to (from) affiliates | (352,101 | ) | 352,188 | (87 | ) | — | — | |||||||||||||
Deferred revenue | 562 | — | 3,695 | — | 4,257 | |||||||||||||||
Total current liabilities | (202,662 | ) | 362,545 | 226,765 | (50,107 | ) | 336,541 | |||||||||||||
Debt | 1,015,043 | 1,031,542 | — | (987,646 | ) | 1,058,939 | ||||||||||||||
Deferred income taxes | 16,798 | (24,103 | ) | — | 7,305 | — | ||||||||||||||
Other liabilities | 5,468 | — | 8,359 | (5,391 | ) | 8,436 | ||||||||||||||
Total liabilities | 834,647 | 1,369,984 | 235,124 | (1,035,839 | ) | 1,403,916 | ||||||||||||||
Member’s interest (deficit) | 436,169 | 95,647 | -35,868 | -400,301 | 95,647 | |||||||||||||||
Noncontrolling interests in subsidiaries | — | (6,258 | ) | (121 | ) | 121 | (6,258 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 436,169 | 89,389 | (35,989 | ) | (400,180 | ) | 89,389 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,270,816 | $ | 1,459,373 | $ | 199,135 | $ | (1,436,019 | ) | $ | 1,493,305 | |||||||||
Consolidating Balance Sheet Information – As of December 31, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 735,507 | $ | 879 | $ | 13,388 | $ | — | $ | 749,774 | ||||||||||
Trade accounts receivable, net | 205,261 | — | 36,204 | (50 | ) | 241,415 | ||||||||||||||
Program rights, net | 341,255 | — | — | (1,250 | ) | 340,005 | ||||||||||||||
Deferred income taxes | 164 | 826 | — | — | 990 | |||||||||||||||
Notes receivable from affiliates | 26,067 | — | — | (26,067 | ) | — | ||||||||||||||
Other current assets | 27,874 | — | 16,853 | — | 44,727 | |||||||||||||||
Total current assets | 1,336,128 | 1,705 | 66,445 | (27,367 | ) | 1,376,911 | ||||||||||||||
Program rights | 344,042 | — | — | (5,358 | ) | 338,684 | ||||||||||||||
Investment in films and television programs, net | 143,583 | — | 38,090 | — | 181,673 | |||||||||||||||
Property and equipment, net | 95,832 | — | 448 | — | 96,280 | |||||||||||||||
Deferred income taxes | — | 12,222 | — | — | 12,222 | |||||||||||||||
Goodwill | 131,760 | — | — | — | 131,760 | |||||||||||||||
Other assets, net | 15,616 | 13,395 | 22,904 | (13,395 | ) | 38,520 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,787,826 | — | (1,787,826 | ) | — | ||||||||||||||
Total assets | $ | 2,066,961 | $ | 1,815,148 | $ | 127,887 | $ | (1,833,946 | ) | $ | 2,176,050 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4,134 | $ | — | $ | — | $ | — | $ | 4,134 | ||||||||||
Trade accounts payable | 4,817 | — | 1,345 | — | 6,162 | |||||||||||||||
Accrued liabilities | 136,434 | 8,235 | 128,059 | (16,666 | ) | 256,062 | ||||||||||||||
Notes payable due to affiliate | — | — | 26,067 | (26,067 | ) | — | ||||||||||||||
Due to (from) affiliates | 20,902 | 20,111 | 3,694 | (5,188 | ) | 39,519 | ||||||||||||||
Deferred revenue | 18,859 | — | 5,989 | (274 | ) | 24,574 | ||||||||||||||
Total current liabilities | 185,146 | 28,346 | 165,154 | (48,195 | ) | 330,451 | ||||||||||||||
Debt | 535,671 | 505,000 | — | (505,000 | ) | 535,671 | ||||||||||||||
Deferred income taxes | 13,060 | (20,342 | ) | — | 7,282 | — | ||||||||||||||
Other liabilities | 4,259 | — | 8,643 | (5,118 | ) | 7,784 | ||||||||||||||
Total liabilities | 738,136 | 513,004 | 173,797 | (551,031 | ) | 873,906 | ||||||||||||||
Member’s interest (deficit) | 1,328,825 | 1,311,951 | (45,789 | ) | (1,283,036 | ) | 1,311,951 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (9,807 | ) | (121 | ) | 121 | (9,807 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 1,328,825 | 1,302,144 | (45,910 | ) | (1,282,915 | ) | 1,302,144 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 2,066,961 | $ | 1,815,148 | $ | 127,887 | $ | (1,833,946 | ) | $ | 2,176,050 | |||||||||
Schedule of Condensed Income Statement | ' | |||||||||||||||||||
Consolidating Statement of Operations Information – For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 322,086 | $ | — | $ | 26,937 | $ | (2,777 | ) | $ | 346,246 | |||||||||
Home video net sales | 12,822 | — | 44,466 | (2,564 | ) | 54,724 | ||||||||||||||
Total revenue | 334,908 | — | 71,403 | (5,341 | ) | 400,970 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 165,359 | — | — | (938 | ) | 164,421 | ||||||||||||||
Production and acquisition costs (including amortization) | 7,941 | — | 34,228 | — | 42,169 | |||||||||||||||
Home video cost of sales | 6,657 | — | 14,940 | (2,564 | ) | 19,033 | ||||||||||||||
Operating expenses | 3,984 | — | 11,002 | (2,485 | ) | 12,501 | ||||||||||||||
Selling, general and administrative | 40,276 | 74 | 14,355 | — | 54,705 | |||||||||||||||
Stock compensation | 3,315 | — | 338 | — | 3,653 | |||||||||||||||
Depreciation and amortization | 3,149 | — | 1,831 | — | 4,980 | |||||||||||||||
Total costs and expenses | 230,681 | 74 | 76,694 | (5,987 | ) | 301,462 | ||||||||||||||
Operating income (loss) | 104,227 | (74 | ) | (5,291 | ) | 646 | 99,508 | |||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (9,431 | ) | (7,408 | ) | (44 | ) | 7,408 | (9,475 | ) | |||||||||||
Interest income (expense), related party | 1,427 | — | (1,427 | ) | — | — | ||||||||||||||
Other income (expense), net | (461 | ) | 52 | (1,674 | ) | 1,596 | (487 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 95,762 | (7,430 | ) | (8,436 | ) | 9,650 | 89,546 | |||||||||||||
Income tax benefit (expense) | (35,562 | ) | 7,069 | (2,574 | ) | (3,197 | ) | (34,264 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 55,643 | — | (55,643 | ) | — | ||||||||||||||
Net income (loss) | 60,200 | 55,282 | (11,010 | ) | (49,190 | ) | 55,282 | |||||||||||||
Net loss (income) attributable to noncontrolling interests | — | 1,142 | (12 | ) | 12 | 1,142 | ||||||||||||||
Net income (loss) attributable to member | $ | 60,200 | $ | 56,424 | $ | (11,022 | ) | $ | (49,178 | ) | $ | 56,424 | ||||||||
Consolidating Statement of Operations Information – For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 328,752 | $ | — | $ | 53,503 | $ | (1,879 | ) | $ | 380,376 | |||||||||
Home video net sales | 15,002 | — | 53,673 | (2,998 | ) | 65,677 | ||||||||||||||
Total revenue | 343,754 | — | 107,176 | (4,877 | ) | 446,053 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 166,425 | — | — | (389 | ) | 166,036 | ||||||||||||||
Production and acquisition costs (including amortization) | 8,735 | — | 59,207 | — | 67,942 | |||||||||||||||
Home video cost of sales | 8,115 | — | 16,217 | (2,998 | ) | 21,334 | ||||||||||||||
Operating expenses | 6,061 | — | 9,521 | (1,779 | ) | 13,803 | ||||||||||||||
Selling, general and administrative | 45,215 | 950 | 17,054 | — | 63,219 | |||||||||||||||
Stock compensation | 8,309 | 4 | 502 | — | 8,815 | |||||||||||||||
Depreciation and amortization | 3,013 | 373 | 762 | — | 4,148 | |||||||||||||||
Total costs and expenses | 245,873 | 1,327 | 103,263 | (5,166 | ) | 345,297 | ||||||||||||||
Operating income (loss) | 97,881 | (1,327 | ) | 3,913 | 289 | 100,756 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (10,916 | ) | (11,836 | ) | (28 | ) | 11,125 | (11,655 | ) | |||||||||||
Interest income (expense), related party | 543 | — | (543 | ) | — | — | ||||||||||||||
Other income (expense), net | 22 | (12 | ) | (251 | ) | 436 | 195 | |||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 87,530 | (13,175 | ) | 3,091 | 11,850 | 89,296 | ||||||||||||||
Income tax benefit (expense) | (35,096 | ) | 2,857 | (314 | ) | (3,657 | ) | (36,210 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 63,404 | — | (63,404 | ) | — | ||||||||||||||
Net income | 52,434 | 53,086 | 2,777 | (55,211 | ) | 53,086 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (842 | ) | — | — | (842 | ) | |||||||||||||
Net income attributable to member | $ | 52,434 | $ | 52,244 | $ | 2,777 | $ | (55,211 | ) | $ | 52,244 | |||||||||
Consolidating Statement of Operations Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 1,003,488 | $ | — | $ | 124,332 | $ | (6,875 | ) | $ | 1,120,945 | |||||||||
Home video net sales | 27,134 | — | 220,128 | (5,416 | ) | 241,846 | ||||||||||||||
Total revenue | 1,030,622 | — | 344,460 | (12,291 | ) | 1,362,791 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 478,444 | — | — | (1,084 | ) | 477,360 | ||||||||||||||
Production and acquisition costs (including amortization) | 20,564 | — | 200,435 | — | 220,999 | |||||||||||||||
Home video cost of sales | 15,062 | — | 41,904 | (5,416 | ) | 51,550 | ||||||||||||||
Operating expenses | 18,277 | — | 26,143 | (5,495 | ) | 38,925 | ||||||||||||||
Selling, general and administrative | 151,708 | 3,902 | 58,591 | — | 214,201 | |||||||||||||||
Stock compensation | 22,871 | 858 | 1,398 | — | 25,127 | |||||||||||||||
Depreciation and amortization | 9,526 | 1,080 | 2,311 | — | 12,917 | |||||||||||||||
Total costs and expenses | 716,452 | 5,840 | 330,782 | (11,995 | ) | 1,041,079 | ||||||||||||||
Operating income (loss) | 314,170 | (5,840 | ) | 13,678 | (296 | ) | 321,712 | |||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (31,069 | ) | (34,200 | ) | (83 | ) | 32,138 | (33,214 | ) | |||||||||||
Interest income (expense), related party | 1,358 | — | (1,358 | ) | — | — | ||||||||||||||
Other income (expense), net | (2,166 | ) | 10 | (2,516 | ) | 2,874 | (1,798 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 282,293 | (40,030 | ) | 9,721 | 34,716 | 286,700 | ||||||||||||||
Income tax benefit (expense) | (106,944 | ) | 10,689 | (1,003 | ) | (12,118 | ) | (109,376 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 206,665 | — | (206,665 | ) | — | ||||||||||||||
Net income | 175,349 | 177,324 | 8,718 | (184,067 | ) | 177,324 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (3,328 | ) | — | — | (3,328 | ) | |||||||||||||
Net income attributable to member | $ | 175,349 | $ | 173,996 | $ | 8,718 | $ | (184,067 | ) | $ | 173,996 | |||||||||
Consolidating Statement of Operations Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Revenue: | ||||||||||||||||||||
Programming networks and other services | $ | 985,039 | $ | — | $ | 101,388 | $ | (11,303 | ) | $ | 1,075,124 | |||||||||
Home video net sales | 20,900 | — | 116,652 | (4,180 | ) | 133,372 | ||||||||||||||
Total revenue | 1,005,939 | — | 218,040 | (15,483 | ) | 1,208,496 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming costs (including amortization) | 509,524 | — | — | (4,850 | ) | 504,674 | ||||||||||||||
Production and acquisition costs (including amortization) | 18,831 | — | 98,641 | 145 | 117,617 | |||||||||||||||
Home video cost of sales | 10,765 | — | 33,676 | (4,180 | ) | 40,261 | ||||||||||||||
Operating expenses | 14,281 | — | 34,036 | (9,441 | ) | 38,876 | ||||||||||||||
Selling, general and administrative | 119,296 | 94 | 44,221 | — | 163,611 | |||||||||||||||
Stock compensation | 9,009 | — | 879 | — | 9,888 | |||||||||||||||
Depreciation and amortization | 9,487 | — | 4,300 | — | 13,787 | |||||||||||||||
Total costs and expenses | 691,193 | 94 | 215,753 | (18,326 | ) | 888,714 | ||||||||||||||
Operating income (loss) | 314,746 | (94 | ) | 2,287 | 2,843 | 319,782 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (18,689 | ) | (15,924 | ) | (116 | ) | 15,924 | (18,805 | ) | |||||||||||
Interest income (expense), related party | 3,906 | — | (3,906 | ) | — | — | ||||||||||||||
Other income (expense), net | 2,735 | 974 | (2,015 | ) | 1,986 | 3,680 | ||||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 302,698 | (15,044 | ) | (3,750 | ) | 20,753 | 304,657 | |||||||||||||
Income tax benefit (expense) | (111,092 | ) | 17,225 | 600 | (7,305 | ) | (100,572 | ) | ||||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 201,904 | — | (201,904 | ) | — | ||||||||||||||
Net income (loss) | 191,606 | 204,085 | (3,150 | ) | (188,456 | ) | 204,085 | |||||||||||||
Net loss (income) attributable to noncontrolling interests | — | (1,154 | ) | 96 | (96 | ) | (1,154 | ) | ||||||||||||
Net income (loss) attributable to member | $ | 191,606 | $ | 202,931 | $ | (3,054 | ) | $ | (188,552 | ) | $ | 202,931 | ||||||||
Schedule of Condensed Comprehensive Income (Loss) Statement | ' | |||||||||||||||||||
Consolidating Statement of Comprehensive Income Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 175,349 | $ | 177,324 | $ | 8,718 | $ | (184,067 | ) | $ | 177,324 | |||||||||
Other comprehensive income (loss), net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 54 | (21 | ) | 21 | 54 | ||||||||||||||
Comprehensive income | 175,349 | 177,378 | 8,697 | (184,046 | ) | 177,378 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (3,265 | ) | — | — | (3,265 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 175,349 | $ | 174,113 | $ | 8,697 | $ | (184,046 | ) | $ | 174,113 | |||||||||
Consolidating Statement of Comprehensive Income Information – For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 52,434 | $ | 53,086 | $ | 2,777 | $ | (55,211 | ) | $ | 53,086 | |||||||||
Other comprehensive income, net of taxes | ||||||||||||||||||||
Foreign currency translation adjustments | — | 189 | 119 | (119 | ) | 189 | ||||||||||||||
Comprehensive income | 52,434 | 53,275 | 2,896 | (55,330 | ) | 53,275 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (919 | ) | — | — | (919 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 52,434 | $ | 52,356 | $ | 2,896 | $ | (55,330 | ) | $ | 52,356 | |||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 191,606 | $ | 204,085 | $ | (3,150 | ) | $ | (188,456 | ) | $ | 204,085 | ||||||||
Other comprehensive income, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 322 | 322 | (322 | ) | 322 | ||||||||||||||
Comprehensive income (loss) | 191,606 | 204,407 | (2,828 | ) | (188,778 | ) | 204,407 | |||||||||||||
Comprehensive loss (income) attributable to noncontrolling interests | — | (1,908 | ) | 96 | (96 | ) | (1,908 | ) | ||||||||||||
Comprehensive income (loss) attributable to member | $ | 191,606 | $ | 202,499 | $ | (2,732 | ) | $ | (188,874 | ) | $ | 202,499 | ||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 60,200 | $ | 55,282 | $ | (11,010 | ) | $ | (49,190 | ) | $ | 55,282 | ||||||||
Other comprehensive income, net of taxes | ||||||||||||||||||||
Foreign currency translation adjustments | — | 332 | 332 | (332 | ) | 332 | ||||||||||||||
Comprehensive income (loss) | 60,200 | 55,614 | (10,678 | ) | (49,522 | ) | 55,614 | |||||||||||||
Comprehensive loss (income) attributable to noncontrolling interests | — | 402 | (12 | ) | 12 | 402 | ||||||||||||||
Comprehensive income (loss) attributable to member | $ | 60,200 | $ | 56,016 | $ | (10,690 | ) | $ | (49,510 | ) | $ | 56,016 | ||||||||
Schedule of Condensed Cash Flow Statement | ' | |||||||||||||||||||
Consolidating Statement of Cash Flows’ Information – For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net income | $ | 175,349 | $ | 177,324 | $ | 8,718 | $ | (184,067 | ) | $ | 177,324 | |||||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 9,526 | 1,080 | 2,311 | — | 12,917 | |||||||||||||||
Amortization of program rights | 443,881 | — | — | (1,084 | ) | 442,797 | ||||||||||||||
Program rights payments | (324,550 | ) | — | — | 1,330 | (323,220 | ) | |||||||||||||
Amortization of investment in films and television programs | 19,144 | — | 153,733 | — | 172,877 | |||||||||||||||
Investment in films and television programs | (102,187 | ) | — | (115,287 | ) | — | (217,474 | ) | ||||||||||||
Stock compensation | 22,871 | 858 | 1,398 | — | 25,127 | |||||||||||||||
Payments of long term incentive plan | (3,195 | ) | — | — | — | (3,195 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (206,665 | ) | — | 206,665 | — | ||||||||||||||
Deferred income taxes | 3,431 | (655 | ) | — | 23 | 2,799 | ||||||||||||||
Other non-cash items | 2,259 | 1,816 | 7,399 | (1,816 | ) | 9,658 | ||||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | 9,461 | (283 | ) | (68,449 | ) | 2 | (59,269 | ) | ||||||||||||
Due to / from affiliates | (79,252 | ) | 43,501 | (3,768 | ) | — | (39,519 | ) | ||||||||||||
Payables and other liabilities | 22,057 | (12,249 | ) | 438 | (21,053 | ) | (10,807 | ) | ||||||||||||
Net cash provided by (used in) operating activities | 198,795 | 4,727 | (13,507 | ) | — | 190,015 | ||||||||||||||
Investing activities – purchases of property and equipment | (6,071 | ) | — | (94 | ) | — | (6,165 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 1,081,000 | — | — | 1,081,000 | |||||||||||||||
Payments of debt | (3,077 | ) | (598,368 | ) | — | — | (601,445 | ) | ||||||||||||
Debt issuance costs | — | (2,348 | ) | — | — | (2,348 | ) | |||||||||||||
Distributions to Liberty Media | — | (1,200,000 | ) | — | — | (1,200,000 | ) | |||||||||||||
Distributions to parent for repurchase of common stock | — | (179,197 | ) | — | — | (179,197 | ) | |||||||||||||
Distributions to parent | (600,000 | ) | 600,000 | — | — | — | ||||||||||||||
Borrowings under notes payable to affiliate | (48,507 | ) | — | 48,507 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 38,257 | — | (38,257 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (293,696 | ) | 293,696 | — | — | — | ||||||||||||||
Minimum withholding of taxes related to stock compensation | (2,719 | ) | — | (242 | ) | — | (2,961 | ) | ||||||||||||
Excess tax benefit from stock compensation | 2,096 | — | — | — | 2,096 | |||||||||||||||
Net cash provided by (used in) financing activities | (907,646 | ) | (5,217 | ) | 10,008 | — | (902,855 | ) | ||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | (127 | ) | — | (127 | ) | |||||||||||||
Net decrease in cash and cash equivalents | (714,922 | ) | (490 | ) | (3,720 | ) | — | (719,132 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 735,507 | 879 | 13,388 | — | 749,774 | |||||||||||||||
End of period | $ | 20,585 | $ | 389 | $ | 9,668 | $ | — | $ | 30,642 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (2,476 | ) | $ | 41,651 | $ | 1,490 | $ | — | $ | 40,665 | |||||||||
Cash paid for income taxes | $ | 136,405 | $ | (814 | ) | $ | (75 | ) | $ | — | $ | 135,516 | ||||||||
Distribution of corporate headquarters to Liberty Media | $ | 45,668 | $ | — | $ | — | $ | — | $ | 45,668 | ||||||||||
Capital lease related to Commercial Lease with LPH | $ | — | $ | 44,800 | $ | — | $ | — | $ | 44,800 | ||||||||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11,253 | $ | — | $ | — | $ | 11,253 | ||||||||||
Consolidating Statement of Cash Flows’ Information – For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
(in thousands) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Operating activities: | ||||||||||||||||||||
Net income (loss) | $ | 191,606 | $ | 204,085 | $ | (3,150 | ) | $ | (188,456 | ) | $ | 204,085 | ||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 9,487 | — | 4,300 | — | 13,787 | |||||||||||||||
Amortization of program rights | 478,101 | — | — | (4,850 | ) | 473,251 | ||||||||||||||
Program rights payments | (367,901 | ) | — | — | 1,520 | (366,381 | ) | |||||||||||||
Amortization of investment in films and television programs | 15,331 | — | 71,411 | — | 86,742 | |||||||||||||||
Investment in films and television programs | (106,005 | ) | — | (88,983 | ) | — | (194,988 | ) | ||||||||||||
Stock compensation | 9,009 | — | 879 | — | 9,888 | |||||||||||||||
Payments of long term incentive plan | (33,410 | ) | — | — | — | (33,410 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (201,904 | ) | — | 201,904 | — | ||||||||||||||
Deferred income taxes | (3,947 | ) | (8,495 | ) | — | 9,177 | (3,265 | ) | ||||||||||||
Other non-cash items | 13,315 | 4,406 | (1,833 | ) | (15,011 | ) | 877 | |||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (456 | ) | — | (5,572 | ) | (156 | ) | (6,184 | ) | |||||||||||
Due to / from affiliates | (19,598 | ) | 3,859 | 2,601 | (2,418 | ) | (15,556 | ) | ||||||||||||
Payables and other liabilities | 5,087 | 1,309 | (2,440 | ) | (1,710 | ) | 2,246 | |||||||||||||
Net cash provided by (used in) operating activities | 190,619 | 3,260 | (22,787 | ) | — | 171,092 | ||||||||||||||
Investing activities – purchases of property and equipment | (7,751 | ) | — | (119 | ) | — | (7,870 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | 0 | 500,000 | — | — | 500,000 | |||||||||||||||
Payments of debt | (3,035 | ) | (500,000 | ) | — | — | (503,035 | ) | ||||||||||||
Debt issuance costs | — | (8,007 | ) | — | — | (8,007 | ) | |||||||||||||
Distributions to Old LMC | 0 | (400,000 | ) | — | — | (400,000 | ) | |||||||||||||
Distributions to parent | (100,000 | ) | 100,000 | — | — | — | ||||||||||||||
Distributions to Old LMC related to stock compensation | (2,024 | ) | — | — | — | (2,024 | ) | |||||||||||||
Borrowings under notes payable to affiliate | (39,779 | ) | — | 39,779 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 19,064 | — | (19,064 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (180,297 | ) | 180,537 | (240 | ) | — | — | |||||||||||||
Minimum withholding of taxes related to stock compensation | (3,465 | ) | — | (178 | ) | — | (3,643 | ) | ||||||||||||
Settlement of derivative instruments | 3 | — | — | — | 3 | |||||||||||||||
Net cash provided by (used in) financing activities | (309,533 | ) | (127,470 | ) | 20,297 | — | (416,706 | ) | ||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | 59 | — | 59 | |||||||||||||||
Net decrease in cash and cash equivalents | (126,665 | ) | (124,210 | ) | (2,550 | ) | — | (253,425 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 965,400 | 125,261 | 9,226 | — | 1,099,887 | |||||||||||||||
End of period | $ | 838,735 | $ | 1,051 | $ | 6,676 | $ | — | $ | 846,462 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | 1,820 | $ | 10,596 | $ | 109 | $ | — | $ | 12,525 | ||||||||||
Cash paid for income taxes | $ | 122,150 | $ | — | $ | 4,432 | $ | — | $ | 126,582 | ||||||||||
Change in deferred tax assets due to sale of noncontrolling interest | $ | — | $ | 2,209 | $ | — | $ | — | $ | 2,209 | ||||||||||
Basis_of_Presentation_and_Desc2
Basis of Presentation and Description of Business (Details) (USD $) | 0 Months Ended | 6 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
Jan. 11, 2013 | Nov. 16, 2012 | Sep. 04, 2012 | Aug. 17, 2012 | Jul. 09, 2012 | Jan. 11, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 11, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 11, 2013 | Jan. 11, 2013 | Nov. 16, 2011 | |
linear_network | TWC [Member] | Starz Media [Member] | Starz, LLC | Starz, LLC | Starz, LLC | Liberty Media [Member] | Liberty Media [Member] | Standby Letters of Credit and Senior Secured, Term Loans [Member] | |||||||||
Starz, LLC | Starz, LLC | ||||||||||||||||
Line of Credit | |||||||||||||||||
LMC Spin-Off [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Capital Lease Obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' |
Tax Attributes Due to Spin-Off | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' |
Capital Lease Obligations Incurred | ' | ' | ' | ' | ' | ' | 44,800,000 | 0 | ' | ' | ' | 44,800,000 | ' | ' | ' | ' | ' |
Projected total payments to parent in connection with Spin-Off | ' | ' | ' | ' | ' | 1,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash payments to parent | 1,200,000,000 | 200,000,000 | 50,000,000 | 250,000,000 | 100,000,000 | ' | 1,200,000,000 | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000,000 |
Ownership percentage interest sold to noncontrolling owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' |
Number of linear networks containing programming | ' | ' | ' | ' | ' | ' | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Leases, Period of Lease Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' |
Capital Leases, Successive Renewal Periods Available for Lease Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' |
Deferred Tax Asset, Capital Loss and Tax Credity Carryforwards, Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 157,400,000 | ' |
Deferred Tax Assets, Valuation Allowance | ' | ' | ' | ' | ' | ' | 706,000 | ' | 155,861,000 | ' | ' | ' | ' | ' | ' | 157,400,000 | ' |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 400,000 | ' | ' | ' |
Shared Office Space Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | $300,000 | ' | ' | ' |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jan. 11, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Feb. 08, 2013 | Sep. 13, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Nov. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 16, 2011 | Dec. 31, 2012 | Nov. 16, 2011 | Nov. 16, 2011 | Nov. 16, 2011 | Nov. 16, 2011 | Sep. 30, 2013 | Nov. 16, 2011 | Nov. 16, 2011 | Nov. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | |||||||
Starz, LLC | Starz Entertainment | Starz Entertainment | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Capital Lease Obligations | Capital Lease Obligations | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Standby Letters of Credit [Member] | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | Credit Facility 1 [Member] | Credit Facility 2 [Member] | ||||||||||||
Minimum | Maximum | Starz, LLC and Starz Finance Corp | Starz, LLC and Starz Finance Corp | Starz, LLC and Starz Finance Corp | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Line of Credit | Revolving Credit Facility, Senior Secured, Term Loans | Revolving Credit Facility, Senior Secured, Term Loans | |||||||||||||||||
Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Federal Funds Effective Rate [Member] | Alternate Base Rate, Prime, Federal Funds, or LIBOR [Member] | Alternate Base Rate, Prime, Federal Funds, or LIBOR [Member] | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | Line of Credit | Line of Credit | ||||||||||||||||||||||||
Minimum | Maximum | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | ||||||||||||||||||||||||||||
Minimum | Maximum | Minimum | Maximum | Starz, LLC | Starz, LLC | |||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | ' | ' | ' | ' | ' | ' | ' | ' | $3,146,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt | 1,063,806,000 | ' | 1,063,806,000 | ' | 539,805,000 | ' | ' | ' | 678,146,000 | [1] | 500,000,000 | [1] | ' | ' | ' | 76,160,000 | [2] | 34,805,000 | [2] | 309,500,000 | [3] | 5,000,000 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 259,500,000 | 50,000,000 |
Debt, Current | -4,867,000 | ' | -4,867,000 | ' | -4,134,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt | 1,058,939,000 | ' | 1,058,939,000 | ' | 535,671,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | 50,000,000 | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 690,500,000 | ' | 690,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Basis Spread on Variable Rate, Alternate Base Rate Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | 1.50% | ' | 1.00% | ' | ' | ' | ' | ||||||
Debt Instrument, Interest Period Used to Determine Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 month | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.50% | ' | ' | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.93% | 1.93% | ||||||
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Leases, Period of Lease Agreement | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Leases, Successive Renewal Periods Available for Lease Agreement | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Lease Obligations Incurred | ' | ' | 44,800,000 | 0 | ' | 44,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Repayments of term loan under secured credit facilities | ' | ' | 601,445,000 | 503,035,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Lease Agreement, Imputed Annual Interest Rate | ' | ' | ' | ' | ' | 6.40% | 5.50% | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Fair value of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | 675,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Interest Costs Capitalized | $800,000 | $400,000 | $2,800,000 | $900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | On September 13, 2012, Starz, LLC and Starz Finance Corp. co-issued $500.0 million aggregate principal amount of 5.0% senior notes due September 15, 2019 (the “Senior Notesâ€). The Senior Notes bear interest at a rate of 5.0% payable semi-annually on September 15 and March 15 of each year. Starz Finance Corp. is a wholly-owned subsidiary of Starz, LLC and was formed for the sole purpose of co-issuing the Senior Notes. Starz Finance Corp. does not have and will not have any operations, assets or subsidiaries of its own. The Senior Notes are guaranteed by Starz Entertainment. The net proceeds from the issuance of the Senior Notes and cash on hand were used to repay and terminate the $500.0 million term loan facility under the Senior Secured Credit Facilities. On February 14, 2013, Starz, LLC completed an exchange offer, exchanging the majority of the unregistered Senior Notes for new registered Senior Notes. The new registered Senior Notes are substantially identical to the original Senior Notes, except the new registered Senior Notes are registered under the Securities Act of 1933, as amended (the “Securities Actâ€), and the transfer restrictions and registration rights, and related special interest provisions applicable to the original Senior Notes will not apply to the new registered Senior Notes.On February 8, 2013, Starz, LLC and Starz Finance Corp. completed the issuance of an additional $175.0 million aggregate principal amount of 5.0% senior notes due 2019 (the “New Notesâ€), which were issued as additional notes under the indenture governing the Senior Notes. The net proceeds from the issuance of the New Notes were used to repay indebtedness under the revolving portion of the Senior Secured Credit Facilities. The New Notes were issued at a price of 102.0% plus accrued interest from September 13, 2012. On May 24, 2013, Starz, LLC completed an exchange offer, exchanging the unregistered New Notes for new registered New Notes. The new registered New Notes are substantially identical to the original New Notes, except the new registered New Notes are registered under the Securities Act and the transfer restrictions and registration rights, and related special interest provisions applicable to the original New Notes will not apply to the new registered New Notes.The Senior Notes and New Notes rank equally in right of payment to all existing and future senior obligations and existing and future subordinated obligations. The Senior Notes and New Notes are effectively subordinated to any existing and future secured obligations and to all the liabilities of the subsidiaries that do not guarantee the Senior Notes or New Notes.The Senior Notes and New Notes contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens and guarantees, or making certain distributions, investments and other restricted payments. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Notes and New Notes. | |||||||||||||||||||||||||||||||||||||
[2] | On January 11, 2013, Starz, LLC entered into the Commercial Lease with LPH for its headquarters building. The term of the lease is ten years, with successive five-year renewal periods at the option of Starz, LLC. Starz, LLC has recorded a $44.8 million capital lease in connection with this lease agreement with an imputed annual interest rate of 6.4%.Starz Entertainment has entered into capital lease agreements for its transponder capacity. The agreements expire during 2018 to 2021 and have imputed annual interest rates ranging from 5.5% to 7.0%. | |||||||||||||||||||||||||||||||||||||
[3] | On November 16, 2011, Starz, LLC entered into a credit agreement that provides a $1,000.0 million revolving credit facility, with a $50.0 million sub-limit for standby letters of credit, and a $500.0 million term loan facility (the “Senior Secured Credit Facilitiesâ€). At closing, Starz, LLC borrowed $500.0 million under the term loan facility and $5.0 million under the revolving credit facility. Net proceeds from the Senior Notes, as defined below, and cash on hand were used to repay and terminate the term loan facility in September 2012. Borrowings under the revolving credit facility may be prepaid at any time and from time to time without penalty other than customary breakage costs. Any amounts prepaid on the revolving credit facility may be reborrowed. The revolving credit facility is scheduled to mature on November 16, 2016. As of September 30, 2013, $690.5 million of borrowing capacity was available under the revolving credit facility. Interest on each loan under the Senior Secured Credit Facilities is payable at either an alternate base rate or LIBOR at Starz, LLC’s election. Borrowings that are alternate base rate loans bear interest at a per annum rate equal to the alternate base rate plus a margin that varies between 0.5% and 1.5% depending on the consolidated leverage ratio, as defined in the Senior Secured Credit Facilities. The alternate base rate is the highest of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus ½ of 1.0% or (c) LIBOR for a one-month interest period plus 1.0%. Borrowings that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin that varies between 1.5% and 2.5% depending on the consolidated leverage ratio. The Senior Secured Credit Facilities require Starz, LLC to pay a commitment fee on any unused portion under the revolving credit facility. The commitment fee varies between 0.25% and 0.50%, depending on the consolidated leverage ratio.As of September 30, 2013, the following borrowings and related LIBOR interest rates plus the applicable margin were outstanding under the Senior Secured Credit Facilities (dollars in thousands): LIBOR rate period:Interest Rate Loan AmountSeptember 2013 - October 20131.9319% $259,500September 2013 - October 20131.9291% 50,000 $309,500The Senior Secured Credit Facilities contain certain covenants that include restrictions on, among others, incurring additional debt, paying dividends, entering into liens or guarantees, or making certain distributions, investments and other restricted payments. In addition, Starz, LLC must comply with certain financial covenants, including a consolidated leverage ratio, as defined in the agreement. As of September 30, 2013, Starz, LLC was in compliance with all covenants under the Senior Secured Credit Facilities. |
Stock_Options_and_Long_Term_In2
Stock Options and Long Term Incentive Plan - Share-based Compensation (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ' |
Payments of long term incentive plan and phantom stock appreciation rights | $3,195,000 | $33,410,000 |
Incentive Plan, Stock Options and Restricted Stock | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total unrecognized compensation cost for nonvested awards | 71,600,000 | ' |
Weighted average period for total unrecognized compensation to be recognized over | '2 years 9 months 23 days | ' |
Long Term Incentive Plan 2006 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Award vesting period | '4 years | ' |
Payments of long term incentive plan and phantom stock appreciation rights | $3,200,000 | $33,400,000 |
Tranche 1 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Future Vesting, Number of Shares | 2,666,983 | ' |
Tranche 2 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Future Vesting, Number of Shares | 3,363,123 | ' |
Stock_Options_and_Long_Term_In3
Stock Options and Long Term Incentive Plan - Grants (Details) (USD $) | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2013 | Aug. 19, 2013 | Mar. 04, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Stock Options | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Long Term Incentive Plan 2006 | Tranche 2 [Member] | |
Series A Liberty Starz Common Stock | Series A Liberty Starz Common Stock | Series A Liberty Starz Common Stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | ' | ' | 304,022 | ' | ' |
Share-based Comepensation, Vesting, Percentage | ' | ' | ' | ' | ' | ' | 50.00% |
Award vesting period | '4 years | '4 years | ' | ' | ' | '4 years | ' |
Grants in period | 6,030,106 | ' | ' | ' | ' | ' | ' |
Grants in period, Weighted Average Grant Date Fair Value | $7.61 | ' | ' | ' | ' | ' | ' |
Restricted stock, Grants in Period | ' | 310,502 | 2,093 | 308,409 | ' | ' | ' |
Restricted stock, Grants in Period, Weighted Average Grant Date Fair Value | ' | $18.97 | $24.43 | $18.93 | ' | ' | ' |
Restricted stock, Grants in Period that Vest in One Year | ' | 47,453 | ' | ' | ' | ' | ' |
Restricted stock, Grants in Period That Vest Quarterly Over Two Years | ' | 256,569 | ' | ' | ' | ' | ' |
Award Term Period | '7 years | ' | ' | ' | ' | ' | ' |
Award Term Period for Exchange Options | '10 years | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Long_Term_In4
Stock Options and Long Term Incentive Plan - Black-Scholes Assumptions (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Risk Free Interest Rate, Minimum | 0.70% |
Risk Free Interest Rate, Maximum | 1.20% |
Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' |
Expected Term | '4 years 8 months 12 days |
Expected Volatility Rate, Minimum | 41.35% |
Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' |
Expected Term | '6 years 11 months 1 day |
Stock_Options_and_Long_Term_In5
Stock Options and Long Term Incentive Plan - Restricted Stock (Details) (Restricted Stock, USD $) | 9 Months Ended | 0 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Aug. 19, 2013 | Mar. 04, 2013 | Sep. 30, 2012 | |
Common Class A [Member] | Common Class A [Member] | Common Class A [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | ' | ' | ' | -6,480 |
Restricted stock, Grants in Period | 310,502 | 2,093 | 308,409 | ' |
Restricted stock, Grants in Period, Weighted Average Grant Date Fair Value | $18.97 | $24.43 | $18.93 | ' |
Stock_Options_and_Long_Term_In6
Stock Options and Long Term Incentive Plan - Roll Forward (Details) (USD $) | 9 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | |
Before the Conversion [Member] [Domain] | After the Conversion | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Outstanding, Beginning | ' | 1,615,711 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Spin-Off Adjustment to Existing Stock Options | 7,589,815 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 6,030,106 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | -536,593 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | ' | ' | -268,612 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | ' | ' | 0 |
Outstanding, Ending | ' | 1,615,711 | 14,430,427 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] [Roll Forward] | ' | ' | ' |
Weighted Average Exercise Price, outstanding ending | ' | $93.14 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | $18.93 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | ' | ' | $11.18 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | ' | ' | $11.11 |
Weighted Average Exercise Price, outstanding ending | ' | $93.14 | $14.70 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Spin-Off Adjustment to Weighted Average Exercise Price | $11.62 | ' | ' |
Exercisable | 2,174,965 | ' | ' |
Exercisable, Weighted Average Exercise Price | $12.23 | ' | ' |
Weighted Average Remaining Contractual Term of Outstanding Options | '6 years 6 months 1 day | ' | ' |
Options Exercisable, Weighted Average Remaining Contractual Term | '5 years 3 months 20 days | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | ' | ' | $0 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jan. 28, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Participations payable to TWC | ' | $79,352,000 | ' | $79,352,000 | ' | $23,861,000 | ' |
Affiliated Entity | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Employee benefit plan expenses and other miscellaneous charges | ' | 0 | 3,200,000 | 0 | 9,218,489 | ' | ' |
Due to affiliate | ' | 0 | ' | 0 | ' | ' | 1,000,000 |
Due to affiliate for income tax obligations | ' | ' | ' | ' | ' | 38,500,000 | ' |
Ownership percentage interest sold to noncontrolling owners | 25.00% | ' | ' | ' | ' | ' | ' |
Related party transaction, period | '5 years | ' | ' | ' | ' | ' | ' |
TWC [Member] | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Recognition of participation expense | ' | 35,000,000 | 10,400,000 | 140,600,000 | 46,800,000 | ' | ' |
Participations payable to TWC | ' | 79,400,000 | ' | 79,400,000 | ' | 23,900,000 | ' |
Payment Guarantee [Member] | TWC [Member] | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Maximum potential amount payable under guarantee | 50,000,000 | ' | ' | ' | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Current federal | $42,508 | $35,464 | $99,540 | $101,762 |
Current state and local | 2,865 | 3,232 | 5,383 | 1,006 |
Current foreign | 725 | 140 | 1,654 | 1,069 |
Current income tax expense | 46,098 | 38,836 | 106,577 | 103,837 |
Deferred federal | -9,995 | -4,517 | -1,861 | -18,070 |
Deferred state and local | 107 | -55 | 4,660 | 14,805 |
Deferred income tax expense | -9,888 | -4,572 | 2,799 | -3,265 |
Income tax expense | $36,210 | $34,264 | $109,376 | $100,572 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Federal income tax rate | ' | ' | 35.00% | ' |
Computed expected tax expense | $31,254 | $31,761 | $100,345 | $106,791 |
State and local income taxes, net of federal income taxes | 2,138 | 1,868 | 6,613 | 8,607 |
Foreign taxes, net of foreign tax credit | 8 | -475 | 908 | -395 |
Change in valuation allowance affecting tax expense | 3,417 | 2,018 | 2,287 | 77,471 |
Taxable liquidation of subsidiary | 0 | -1,420 | 0 | -101,299 |
Change in subsidiary tax status | 0 | 983 | 791 | 9,792 |
Other, net | -607 | -471 | -1,568 | -395 |
Income tax expense | $36,210 | $34,264 | $109,376 | $100,572 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||
Jun. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 02, 2012 | Jan. 11, 2013 | Jan. 11, 2013 | |
Liberty Media [Member] | Liberty Media [Member] | ||||||
Starz, LLC | |||||||
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Tax loss and credit carryforwards | ' | ' | $6,604,000 | $155,861,000 | ' | ' | ' |
Accrued stock compensation | ' | ' | 11,945,000 | 5,575,000 | ' | ' | ' |
Investments | ' | ' | 33,502,000 | 25,516,000 | ' | ' | ' |
Intangible assets | ' | ' | 0 | 1,163,000 | ' | ' | ' |
Other future deductible amounts | ' | ' | 0 | 219,000 | ' | ' | ' |
Deferred tax assets | ' | ' | 52,051,000 | 188,334,000 | ' | ' | ' |
Valuation allowance | ' | ' | -706,000 | -155,861,000 | ' | ' | -157,400,000 |
Deferred tax assets, net | ' | ' | 51,345,000 | 32,473,000 | ' | ' | ' |
Property and equipment | ' | ' | -11,733,000 | -18,807,000 | ' | ' | ' |
Intangible assets | ' | ' | -15,628,000 | 0 | ' | ' | ' |
Other future taxable amounts | ' | ' | -1,288,000 | -454,000 | ' | ' | ' |
Deferred tax liabilities | ' | ' | -28,649,000 | -19,261,000 | ' | ' | ' |
Net deferred tax assets (liabilities) | ' | ' | 22,696,000 | 13,212,000 | ' | ' | ' |
Decrease in Deferred Tax Assets Due to Subsidiary Conversion to Partnership | 16,900,000 | ' | ' | ' | ' | ' | ' |
Decrease in Valuation Allowance Due to Subsidiary Conversion to Partnership | ' | 16,900,000 | ' | ' | ' | ' | ' |
Increase in Deferred Tax Assets Due to Difference in Book and Tax Basis for Subsidiary | 7,100,000 | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Capital Loss Carryforwards | ' | ' | ' | ' | 101,300,000 | ' | ' |
Deferred Tax Asset, Capital Loss and Tax Credity Carryforwards, Foreign | ' | ' | ' | ' | ' | ' | 157,400,000 |
Tax Attributes Due to Spin-Off | ' | ' | ' | ' | ' | $11,300,000 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Programming Rights (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Contractual Obligation, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' |
Film rights payable in 2013 | $51,200,000 | ' | $51,200,000 | ' |
Film rights payable in 2014 | 8,800,000 | ' | 8,800,000 | ' |
Other Commitment, Due in Third Year | 2,000,000 | ' | 2,000,000 | ' |
Programming license agreements payable in 2013 | 26,800,000 | ' | 26,800,000 | ' |
Programming license agreements payable in 2014 | 395,800,000 | ' | 395,800,000 | ' |
Programming license agreements payable in 2015 | 108,400,000 | ' | 108,400,000 | ' |
Programming license agreements payable in 2016 | 98,700,000 | ' | 98,700,000 | ' |
Programming license agreements payable in 2017 | 91,900,000 | ' | 91,900,000 | ' |
Programming license agreements payable thereafter | 306,000,000 | ' | 306,000,000 | ' |
Program Rights Obligations | 62,000,000 | ' | 62,000,000 | ' |
Amortization of program rights | $154,400,000 | $154,200,000 | $442,797,000 | $473,251,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Guarantees (Details) (Performance Guarantee, USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Performance Guarantee | ' |
Guarantor Obligations [Line Items] | ' |
Guarantor Obligations, Total Guarantee and Maximum Amount of Grant Available | $22.30 |
Maximum potential amount payable under guarantee | 14.3 |
Guarantor Obligations, Current Carrying Value | $11.40 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Legal Proceedings (Details) | 9 Months Ended |
Sep. 30, 2013 | |
channel | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation Case, Timeframe Free Preview Channels Were Provided For | '1 year |
Litigation Case, Number of Free Preview Channels Provided | 8 |
Other_Information_Details
Other Information (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Payables and Accruals [Abstract] | ' | ' | ' |
Accrued Royalties, Residuals and Participations, Current | $78,886 | ' | $72,139 |
Accrued Participation Liabilities, Due in Next Operating Cycle | 79,352 | ' | 23,861 |
Program Rights Obligations, Current | 59,198 | ' | 57,125 |
Accrued Advertising and Marketing Costs, Current | 47,302 | ' | 38,779 |
Employee-related Liabilities, Current | 21,731 | ' | 23,657 |
Deferred Compensation Liability, Current | 0 | ' | 3,195 |
Other Accrued Liabilities, Current | 34,889 | ' | 37,306 |
Total accrued liabilities | 321,358 | ' | 256,062 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 40,665 | 12,525 | ' |
Cash paid for income taxes | 135,516 | 126,582 | ' |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | 0 | 2,209 | ' |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 45,668 | 0 | ' |
Capital Lease Obligations Incurred | 44,800 | 0 | ' |
Tax attributes related to Spin-Off (Non-Cash) | $11,253 | $0 | ' |
Information_and_Operating_Segm
Information and Operating Segments - Performance Measures and Other Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | $446,053 | $400,970 | $1,362,791 | $1,208,496 | ' |
Total Adjusted OIBDA | 113,719 | 108,141 | 359,756 | 343,457 | ' |
Total capitalized production and development spend | 110,128 | 65,866 | 217,474 | 194,988 | ' |
Total assets | 1,493,305 | ' | 1,493,305 | ' | 2,176,050 |
Starz Networks | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 319,857 | 317,892 | 975,643 | 960,994 | ' |
Total Adjusted OIBDA | 106,521 | 111,535 | 337,359 | 326,292 | ' |
Total capitalized production and development spend | 45,498 | 47,420 | 102,187 | 106,005 | ' |
Total assets | 1,270,816 | ' | 1,270,816 | ' | 2,066,961 |
Starz Distribution | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 117,592 | 75,015 | 365,708 | 223,646 | ' |
Total Adjusted OIBDA | 7,405 | -3,687 | 24,528 | 14,829 | ' |
Total capitalized production and development spend | 64,630 | 18,446 | 115,287 | 88,983 | ' |
Total assets | 196,349 | ' | 196,349 | ' | 118,134 |
Starz Animation | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 8,704 | 10,130 | 22,820 | 31,567 | ' |
Total Adjusted OIBDA | -496 | -354 | -1,835 | -507 | ' |
Total capitalized production and development spend | 0 | 0 | 0 | 0 | ' |
Total assets | 1,907 | ' | 1,907 | ' | 3,225 |
Other unallocated | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total assets | 81,069 | ' | 81,069 | ' | 33,850 |
Inter-segment eliminations | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | -100 | -2,067 | -1,380 | -7,711 | ' |
Total Adjusted OIBDA | 289 | 647 | -296 | 2,843 | ' |
Total capitalized production and development spend | 0 | 0 | 0 | 0 | ' |
Total assets | ($56,836) | ' | ($56,836) | ' | ($46,120) |
Information_and_Operating_Segm1
Information and Operating Segments - Reconciliation of Adjusted OIBDA (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation from Segment Totals to Consolidated [Abstract] | ' | ' | ' | ' |
Consolidated Adjusted OIBDA | $113,719 | $108,141 | $359,756 | $343,457 |
Stock compensation, long term incentive plan and phantom stock appreciation rights | -8,815 | -3,653 | -25,127 | -9,888 |
Depreciation and amortization | -4,148 | -4,980 | -12,917 | -13,787 |
Interest expense, including amounts due to affiliate, net of amounts capitalized | -11,655 | -9,475 | -33,214 | -18,805 |
Other expense, net | 195 | -487 | -1,798 | 3,680 |
Income before income taxes | $89,296 | $89,546 | $286,700 | $304,657 |
Supplemental_Guarantor_Condens2
Supplemental Guarantor Condensed Consolidating Financial Information - Balance Sheets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 13, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||||
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | $30,642 | $749,774 | $846,462 | $846,462 | $1,099,887 |
Restricted cash | 64,506 | 0 | ' | ' | ' |
Trade accounts receivable, net | 247,985 | 241,415 | ' | ' | ' |
Program rights, net | 334,736 | 340,005 | ' | ' | ' |
Deferred income taxes | 652 | 990 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' | ' |
Other current assets | 32,816 | 44,727 | ' | ' | ' |
Total current assets | 711,337 | 1,376,911 | ' | ' | ' |
Noncurrent assets: | ' | ' | ' | ' | ' |
Program rights | 352,274 | 338,684 | ' | ' | ' |
Investment in films and television programs, net | 148,748 | 181,673 | ' | ' | ' |
Property and equipment, net | 90,783 | 96,280 | ' | ' | ' |
Deferred income taxes | 22,044 | 12,222 | ' | ' | ' |
Goodwill | 131,760 | 131,760 | ' | ' | ' |
Other assets, net | 36,359 | 38,520 | ' | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' | ' |
Total assets | 1,493,305 | 2,176,050 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Current portion of debt | 4,867 | 4,134 | ' | ' | ' |
Trade accounts payable | 6,059 | 6,162 | ' | ' | ' |
Accrued liabilities | 321,358 | 256,062 | ' | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' | ' |
Due to (from) affiliates | 0 | 39,519 | ' | ' | ' |
Deferred revenue | 4,257 | 24,574 | ' | ' | ' |
Total current liabilities | 336,541 | 330,451 | ' | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' | ' |
Debt | 1,058,939 | 535,671 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other liabilities | 8,436 | 7,784 | ' | ' | ' |
Total liabilities | 1,403,916 | 873,906 | ' | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' | ' |
Member’s interest (deficit) | 95,647 | 1,311,951 | ' | ' | ' |
Noncontrolling interests in subsidiaries | -6,258 | -9,807 | ' | ' | ' |
Total member’s interest and noncontrolling interests | 89,389 | 1,302,144 | ' | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,493,305 | 2,176,050 | ' | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 20,585 | 735,507 | ' | 838,735 | 965,400 |
Restricted cash | 0 | ' | ' | ' | ' |
Trade accounts receivable, net | 212,319 | 205,261 | ' | ' | ' |
Program rights, net | 335,894 | 341,255 | ' | ' | ' |
Deferred income taxes | 471 | 164 | ' | ' | ' |
Notes receivable from affiliates | 36,268 | 26,067 | ' | ' | ' |
Other current assets | 19,327 | 27,874 | ' | ' | ' |
Total current assets | 624,864 | 1,336,128 | ' | ' | ' |
Noncurrent assets: | ' | ' | ' | ' | ' |
Program rights | 358,010 | 344,042 | ' | ' | ' |
Investment in films and television programs, net | 94,579 | 143,583 | ' | ' | ' |
Property and equipment, net | 46,654 | 95,832 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Goodwill | 131,760 | 131,760 | ' | ' | ' |
Other assets, net | 14,949 | 15,616 | ' | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' | ' |
Total assets | 1,270,816 | 2,066,961 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Current portion of debt | 4,331 | 4,134 | ' | ' | ' |
Trade accounts payable | 4,543 | 4,817 | ' | ' | ' |
Accrued liabilities | 140,003 | 136,434 | ' | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' | ' |
Due to (from) affiliates | -352,101 | 20,902 | ' | ' | ' |
Deferred revenue | 562 | 18,859 | ' | ' | ' |
Total current liabilities | -202,662 | 185,146 | ' | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' | ' |
Debt | 1,015,043 | 535,671 | ' | ' | ' |
Deferred income taxes | 16,798 | 13,060 | ' | ' | ' |
Other liabilities | 5,468 | 4,259 | ' | ' | ' |
Total liabilities | 834,647 | 738,136 | ' | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' | ' |
Member’s interest (deficit) | 436,169 | 1,328,825 | ' | ' | ' |
Noncontrolling interests in subsidiaries | 0 | 0 | ' | ' | ' |
Total member’s interest and noncontrolling interests | 436,169 | 1,328,825 | ' | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,270,816 | 2,066,961 | ' | ' | ' |
Subsidiary Issuer | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 389 | 879 | ' | 1,051 | 125,261 |
Restricted cash | 0 | ' | ' | ' | ' |
Trade accounts receivable, net | 0 | 0 | ' | ' | ' |
Program rights, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 181 | 826 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' | ' |
Other current assets | 283 | 0 | ' | ' | ' |
Total current assets | 853 | 1,705 | ' | ' | ' |
Noncurrent assets: | ' | ' | ' | ' | ' |
Program rights | 0 | 0 | ' | ' | ' |
Investment in films and television programs, net | 0 | 0 | ' | ' | ' |
Property and equipment, net | 43,720 | 0 | ' | ' | ' |
Deferred income taxes | 22,044 | 12,222 | ' | ' | ' |
Goodwill | 0 | 0 | ' | ' | ' |
Other assets, net | 13,573 | 13,395 | ' | ' | ' |
Investment in consolidated subsidiaries | 1,379,183 | 1,787,826 | ' | ' | ' |
Total assets | 1,459,373 | 1,815,148 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Current portion of debt | 536 | 0 | ' | ' | ' |
Trade accounts payable | 0 | 0 | ' | ' | ' |
Accrued liabilities | 9,821 | 8,235 | ' | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' | ' |
Due to (from) affiliates | 352,188 | 20,111 | ' | ' | ' |
Deferred revenue | 0 | 0 | ' | ' | ' |
Total current liabilities | 362,545 | 28,346 | ' | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' | ' |
Debt | 1,031,542 | 505,000 | ' | ' | ' |
Deferred income taxes | -24,103 | -20,342 | ' | ' | ' |
Other liabilities | 0 | 0 | ' | ' | ' |
Total liabilities | 1,369,984 | 513,004 | ' | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' | ' |
Member’s interest (deficit) | 95,647 | 1,311,951 | ' | ' | ' |
Noncontrolling interests in subsidiaries | -6,258 | -9,807 | ' | ' | ' |
Total member’s interest and noncontrolling interests | 89,389 | 1,302,144 | ' | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,459,373 | 1,815,148 | ' | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 9,668 | 13,388 | ' | 6,676 | 9,226 |
Restricted cash | 64,506 | ' | ' | ' | ' |
Trade accounts receivable, net | 35,767 | 36,204 | ' | ' | ' |
Program rights, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' | ' |
Other current assets | 13,206 | 16,853 | ' | ' | ' |
Total current assets | 123,147 | 66,445 | ' | ' | ' |
Noncurrent assets: | ' | ' | ' | ' | ' |
Program rights | 0 | 0 | ' | ' | ' |
Investment in films and television programs, net | 54,169 | 38,090 | ' | ' | ' |
Property and equipment, net | 409 | 448 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Goodwill | 0 | 0 | ' | ' | ' |
Other assets, net | 21,410 | 22,904 | ' | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' | ' |
Total assets | 199,135 | 127,887 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Current portion of debt | 0 | 0 | ' | ' | ' |
Trade accounts payable | 1,516 | 1,345 | ' | ' | ' |
Accrued liabilities | 185,373 | 128,059 | ' | ' | ' |
Notes payable due to affiliate | 36,268 | 26,067 | ' | ' | ' |
Due to (from) affiliates | -87 | 3,694 | ' | ' | ' |
Deferred revenue | 3,695 | 5,989 | ' | ' | ' |
Total current liabilities | 226,765 | 165,154 | ' | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' | ' |
Debt | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other liabilities | 8,359 | 8,643 | ' | ' | ' |
Total liabilities | 235,124 | 173,797 | ' | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' | ' |
Member’s interest (deficit) | -35,868 | -45,789 | ' | ' | ' |
Noncontrolling interests in subsidiaries | -121 | -121 | ' | ' | ' |
Total member’s interest and noncontrolling interests | -35,989 | -45,910 | ' | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 199,135 | 127,887 | ' | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | 0 | 0 |
Restricted cash | 0 | ' | ' | ' | ' |
Trade accounts receivable, net | -101 | -50 | ' | ' | ' |
Program rights, net | -1,158 | -1,250 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Notes receivable from affiliates | -36,268 | -26,067 | ' | ' | ' |
Other current assets | 0 | 0 | ' | ' | ' |
Total current assets | -37,527 | -27,367 | ' | ' | ' |
Noncurrent assets: | ' | ' | ' | ' | ' |
Program rights | -5,736 | -5,358 | ' | ' | ' |
Investment in films and television programs, net | 0 | 0 | ' | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Goodwill | 0 | 0 | ' | ' | ' |
Other assets, net | -13,573 | -13,395 | ' | ' | ' |
Investment in consolidated subsidiaries | -1,379,183 | -1,787,826 | ' | ' | ' |
Total assets | -1,436,019 | -1,833,946 | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Current portion of debt | 0 | 0 | ' | ' | ' |
Trade accounts payable | 0 | 0 | ' | ' | ' |
Accrued liabilities | -13,839 | -16,666 | ' | ' | ' |
Notes payable due to affiliate | -36,268 | -26,067 | ' | ' | ' |
Due to (from) affiliates | 0 | -5,188 | ' | ' | ' |
Deferred revenue | 0 | -274 | ' | ' | ' |
Total current liabilities | -50,107 | -48,195 | ' | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' | ' |
Debt | -987,646 | -505,000 | ' | ' | ' |
Deferred income taxes | 7,305 | 7,282 | ' | ' | ' |
Other liabilities | -5,391 | -5,118 | ' | ' | ' |
Total liabilities | -1,035,839 | -551,031 | ' | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' | ' |
Member’s interest (deficit) | -400,301 | -1,283,036 | ' | ' | ' |
Noncontrolling interests in subsidiaries | 121 | 121 | ' | ' | ' |
Total member’s interest and noncontrolling interests | -400,180 | -1,282,915 | ' | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | ($1,436,019) | ($1,833,946) | ' | ' | ' |
Supplemental_Guarantor_Condens3
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statement of Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | $380,376 | $346,246 | $1,120,945 | $1,075,124 |
Home video net sales | 65,677 | 54,724 | 241,846 | 133,372 |
Total revenue | 446,053 | 400,970 | 1,362,791 | 1,208,496 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) | 166,036 | 164,421 | 477,360 | 504,674 |
Production and acquisition costs (including amortization) (Note 4) | 67,942 | 42,169 | 220,999 | 117,617 |
Home video cost of sales | 21,334 | 19,033 | 51,550 | 40,261 |
Operating expenses | 13,803 | 12,501 | 38,925 | 38,876 |
General and administrative | 63,219 | 54,705 | 214,201 | 163,611 |
Stock compensation | 8,815 | 3,653 | 25,127 | 9,888 |
Depreciation and amortization | 4,148 | 4,980 | 12,917 | 13,787 |
Total costs and expenses | 345,297 | 301,462 | 1,041,079 | 888,714 |
Operating income | 100,756 | 99,508 | 321,712 | 319,782 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, including amounts due to affiliate, net of amounts capitalized | -11,655 | -9,475 | -33,214 | -18,805 |
Interest income (expense), related party | 0 | 0 | 0 | 0 |
Share of earnings of consolidated subsidiaries | 0 | 0 | 0 | 0 |
Other income (expense), net | 195 | -487 | -1,798 | 3,680 |
Income before income taxes | 89,296 | 89,546 | 286,700 | 304,657 |
Income tax benefit (expense) | -36,210 | -34,264 | -109,376 | -100,572 |
Income from continuing operations | ' | 55,282 | ' | 204,085 |
Net income | 53,086 | 55,282 | 177,324 | 204,085 |
Foreign currency translation adjustments from operations | 189 | 332 | 54 | 322 |
Comprehensive income | 53,275 | 55,614 | 177,378 | 204,407 |
Net loss (income) attributable to noncontrolling interests | -842 | 1,142 | -3,328 | -1,154 |
Net income attributable to member | 52,244 | 56,424 | 173,996 | 202,931 |
Guarantor Subsidiaries | ' | ' | ' | ' |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | 328,752 | 322,086 | 1,003,488 | 985,039 |
Home video net sales | 15,002 | 12,822 | 27,134 | 20,900 |
Total revenue | 343,754 | 334,908 | 1,030,622 | 1,005,939 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) | 166,425 | 165,359 | 478,444 | 509,524 |
Production and acquisition costs (including amortization) (Note 4) | 8,735 | 7,941 | 20,564 | 18,831 |
Home video cost of sales | 8,115 | 6,657 | 15,062 | 10,765 |
Operating expenses | 6,061 | 3,984 | 18,277 | 14,281 |
General and administrative | 45,215 | 40,276 | 151,708 | 119,296 |
Stock compensation | 8,309 | 3,315 | 22,871 | 9,009 |
Depreciation and amortization | 3,013 | 3,149 | 9,526 | 9,487 |
Total costs and expenses | 245,873 | 230,681 | 716,452 | 691,193 |
Operating income | 97,881 | 104,227 | 314,170 | 314,746 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, including amounts due to affiliate, net of amounts capitalized | -10,916 | -9,431 | -31,069 | -18,689 |
Interest income (expense), related party | 543 | 1,427 | 1,358 | 3,906 |
Share of earnings of consolidated subsidiaries | 0 | 0 | 0 | 0 |
Other income (expense), net | 22 | -461 | -2,166 | 2,735 |
Income before income taxes | 87,530 | 95,762 | 282,293 | 302,698 |
Income tax benefit (expense) | -35,096 | -35,562 | -106,944 | -111,092 |
Income from continuing operations | ' | 60,200 | ' | 191,606 |
Net income | 52,434 | 60,200 | 175,349 | 191,606 |
Foreign currency translation adjustments from operations | 0 | 0 | 0 | 0 |
Comprehensive income | 52,434 | 60,200 | 175,349 | 191,606 |
Net loss (income) attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to member | 52,434 | 60,200 | 175,349 | 191,606 |
Subsidiary Issuer | ' | ' | ' | ' |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | 0 | 0 | 0 | 0 |
Home video net sales | 0 | 0 | 0 | 0 |
Total revenue | 0 | 0 | 0 | 0 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) | 0 | 0 | 0 | 0 |
Production and acquisition costs (including amortization) (Note 4) | 0 | 0 | 0 | 0 |
Home video cost of sales | 0 | 0 | 0 | 0 |
Operating expenses | 0 | 0 | 0 | 0 |
General and administrative | 950 | 74 | 3,902 | 94 |
Stock compensation | 4 | 0 | 858 | 0 |
Depreciation and amortization | 373 | 0 | 1,080 | 0 |
Total costs and expenses | 1,327 | 74 | 5,840 | 94 |
Operating income | -1,327 | -74 | -5,840 | -94 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, including amounts due to affiliate, net of amounts capitalized | -11,836 | -7,408 | -34,200 | -15,924 |
Interest income (expense), related party | 0 | 0 | 0 | 0 |
Share of earnings of consolidated subsidiaries | 63,404 | 55,643 | 206,665 | 201,904 |
Other income (expense), net | -12 | 52 | 10 | 974 |
Income before income taxes | -13,175 | -7,430 | -40,030 | -15,044 |
Income tax benefit (expense) | 2,857 | 7,069 | 10,689 | 17,225 |
Income from continuing operations | ' | 55,282 | ' | 204,085 |
Net income | 53,086 | 55,282 | 177,324 | 204,085 |
Foreign currency translation adjustments from operations | 189 | 332 | 54 | 322 |
Comprehensive income | 53,275 | 55,614 | 177,378 | 204,407 |
Net loss (income) attributable to noncontrolling interests | -842 | 1,142 | -3,328 | -1,154 |
Net income attributable to member | 52,244 | 56,424 | 173,996 | 202,931 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | 53,503 | 26,937 | 124,332 | 101,388 |
Home video net sales | 53,673 | 44,466 | 220,128 | 116,652 |
Total revenue | 107,176 | 71,403 | 344,460 | 218,040 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) | 0 | 0 | 0 | 0 |
Production and acquisition costs (including amortization) (Note 4) | 59,207 | 34,228 | 200,435 | 98,641 |
Home video cost of sales | 16,217 | 14,940 | 41,904 | 33,676 |
Operating expenses | 9,521 | 11,002 | 26,143 | 34,036 |
General and administrative | 17,054 | 14,355 | 58,591 | 44,221 |
Stock compensation | 502 | 338 | 1,398 | 879 |
Depreciation and amortization | 762 | 1,831 | 2,311 | 4,300 |
Total costs and expenses | 103,263 | 76,694 | 330,782 | 215,753 |
Operating income | 3,913 | -5,291 | 13,678 | 2,287 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, including amounts due to affiliate, net of amounts capitalized | -28 | -44 | -83 | -116 |
Interest income (expense), related party | -543 | -1,427 | -1,358 | -3,906 |
Share of earnings of consolidated subsidiaries | 0 | 0 | 0 | 0 |
Other income (expense), net | -251 | -1,674 | -2,516 | -2,015 |
Income before income taxes | 3,091 | -8,436 | 9,721 | -3,750 |
Income tax benefit (expense) | -314 | -2,574 | -1,003 | 600 |
Income from continuing operations | ' | -11,010 | ' | -3,150 |
Net income | 2,777 | -11,010 | 8,718 | -3,150 |
Foreign currency translation adjustments from operations | 119 | 332 | -21 | 322 |
Comprehensive income | 2,896 | -10,678 | 8,697 | -2,828 |
Net loss (income) attributable to noncontrolling interests | 0 | -12 | 0 | 96 |
Net income attributable to member | 2,777 | -11,022 | 8,718 | -3,054 |
Consolidation, Eliminations | ' | ' | ' | ' |
Revenue: | ' | ' | ' | ' |
Programming networks and other services | -1,879 | -2,777 | -6,875 | -11,303 |
Home video net sales | -2,998 | -2,564 | -5,416 | -4,180 |
Total revenue | -4,877 | -5,341 | -12,291 | -15,483 |
Costs and expenses: | ' | ' | ' | ' |
Programming costs (including amortization) | -389 | -938 | -1,084 | -4,850 |
Production and acquisition costs (including amortization) (Note 4) | 0 | 0 | 0 | 145 |
Home video cost of sales | -2,998 | -2,564 | -5,416 | -4,180 |
Operating expenses | -1,779 | -2,485 | -5,495 | -9,441 |
General and administrative | 0 | 0 | 0 | 0 |
Stock compensation | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Total costs and expenses | -5,166 | -5,987 | -11,995 | -18,326 |
Operating income | 289 | 646 | -296 | 2,843 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, including amounts due to affiliate, net of amounts capitalized | 11,125 | 7,408 | 32,138 | 15,924 |
Interest income (expense), related party | 0 | 0 | 0 | 0 |
Share of earnings of consolidated subsidiaries | -63,404 | -55,643 | -206,665 | -201,904 |
Other income (expense), net | 436 | 1,596 | 2,874 | 1,986 |
Income before income taxes | 11,850 | 9,650 | 34,716 | 20,753 |
Income tax benefit (expense) | -3,657 | -3,197 | -12,118 | -7,305 |
Income from continuing operations | ' | -49,190 | ' | -188,456 |
Net income | -55,211 | -49,190 | -184,067 | -188,456 |
Foreign currency translation adjustments from operations | -119 | -332 | 21 | -322 |
Comprehensive income | -55,330 | -49,522 | -184,046 | -188,778 |
Net loss (income) attributable to noncontrolling interests | 0 | 12 | 0 | -96 |
Net income attributable to member | ($55,211) | ($49,178) | ($184,067) | ($188,552) |
Supplemental_Guarantor_Condens4
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statement of Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net income (loss) | $53,086 | $55,282 | $177,324 | $204,085 |
Other comprehensive loss, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | 189 | 332 | 54 | 322 |
Comprehensive income | 53,275 | 55,614 | 177,378 | 204,407 |
Comprehensive loss (income) attributable to noncontrolling interests | -919 | 402 | -3,265 | -1,908 |
Comprehensive income attributable to member | 52,356 | 56,016 | 174,113 | 202,499 |
Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net income (loss) | 52,434 | 60,200 | 175,349 | 191,606 |
Other comprehensive loss, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | 0 | 0 | 0 | 0 |
Comprehensive income | 52,434 | 60,200 | 175,349 | 191,606 |
Comprehensive loss (income) attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to member | 52,434 | 60,200 | 175,349 | 191,606 |
Subsidiary Issuer | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net income (loss) | 53,086 | 55,282 | 177,324 | 204,085 |
Other comprehensive loss, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | 189 | 332 | 54 | 322 |
Comprehensive income | 53,275 | 55,614 | 177,378 | 204,407 |
Comprehensive loss (income) attributable to noncontrolling interests | -919 | 402 | -3,265 | -1,908 |
Comprehensive income attributable to member | 52,356 | 56,016 | 174,113 | 202,499 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net income (loss) | 2,777 | -11,010 | 8,718 | -3,150 |
Other comprehensive loss, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | 119 | 332 | -21 | 322 |
Comprehensive income | 2,896 | -10,678 | 8,697 | -2,828 |
Comprehensive loss (income) attributable to noncontrolling interests | 0 | -12 | 0 | 96 |
Comprehensive income attributable to member | 2,896 | -10,690 | 8,697 | -2,732 |
Consolidation, Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net income (loss) | -55,211 | -49,190 | -184,067 | -188,456 |
Other comprehensive loss, net of taxes: | ' | ' | ' | ' |
Foreign currency translation adjustments from operations | -119 | -332 | 21 | -322 |
Comprehensive income | -55,330 | -49,522 | -184,046 | -188,778 |
Comprehensive loss (income) attributable to noncontrolling interests | 0 | 12 | 0 | -96 |
Comprehensive income attributable to member | ($55,330) | ($49,510) | ($184,046) | ($188,874) |
Supplemental_Guarantor_Condens5
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statements of Cash Flows (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities: | ' | ' |
Net income (loss) | $177,324 | $204,085 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 12,917 | 13,787 |
Amortization of program rights | 442,797 | 473,251 |
Program rights payments | -323,220 | -366,381 |
Amortization of investment in films and television programs | 172,877 | 86,742 |
Investment in films and television programs | -217,474 | -194,988 |
Stock compensation | 25,127 | 9,888 |
Payments of long term incentive plan | -3,195 | -33,410 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | 2,799 | -3,265 |
Other non-cash items | 9,658 | 877 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -59,269 | -6,184 |
Due to affiliate | -39,519 | -15,556 |
Payables and other liabilities | -10,807 | 2,246 |
Net cash provided by operating activities | 190,015 | 171,092 |
Investing activities: | ' | ' |
Investing activities – purchases of property and equipment | -6,165 | -7,870 |
Financing activities: | ' | ' |
Borrowings of debt | 1,081,000 | 500,000 |
Payments of debt | -601,445 | -503,035 |
Debt issuance costs | -2,348 | -8,007 |
Contributions (Distributions) to Parent | 0 | 0 |
Distributions to Old LMC related to stock compensation | 0 | -2,024 |
Distributions to Old LMC | -1,200,000 | -400,000 |
Distributions to parent related to repurchases of common stock | -179,197 | 0 |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 0 | 0 |
Minimum withholding of taxes related to stock compensation | -2,961 | -3,643 |
Excess tax benefit from stock compensation | 2,096 | 0 |
Settlement of derivative instruments | 0 | 3 |
Net cash used in financing activities | -902,855 | -416,706 |
Effect of exchange rate changes on cash and cash equivalents | -127 | 59 |
Net increase (decrease) in cash and cash equivalents | -719,132 | -253,425 |
Beginning of period | 749,774 | 1,099,887 |
End of period | 30,642 | 846,462 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 40,665 | 12,525 |
Cash paid for income taxes | 135,516 | 126,582 |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 45,668 | 0 |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | 0 | 2,209 |
Capital Lease Obligations Incurred | 44,800 | 0 |
Tax attributes related to Spin-Off (Non-Cash) | 11,253 | 0 |
Guarantor Subsidiaries | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 175,349 | 191,606 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 9,526 | 9,487 |
Amortization of program rights | 443,881 | 478,101 |
Program rights payments | -324,550 | -367,901 |
Amortization of investment in films and television programs | 19,144 | 15,331 |
Investment in films and television programs | -102,187 | -106,005 |
Stock compensation | 22,871 | 9,009 |
Payments of long term incentive plan | -3,195 | -33,410 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | 3,431 | -3,947 |
Other non-cash items | 2,259 | 13,315 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | 9,461 | -456 |
Due to affiliate | -79,252 | -19,598 |
Payables and other liabilities | 22,057 | 5,087 |
Net cash provided by operating activities | 198,795 | 190,619 |
Investing activities: | ' | ' |
Investing activities – purchases of property and equipment | -6,071 | -7,751 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | -3,077 | -3,035 |
Debt issuance costs | 0 | 0 |
Contributions (Distributions) to Parent | -600,000 | -100,000 |
Distributions to Old LMC related to stock compensation | ' | -2,024 |
Distributions to Old LMC | 0 | 0 |
Distributions to parent related to repurchases of common stock | 0 | ' |
Borrowings under notes payable to affiliate | -48,507 | -39,779 |
Repayments under notes payable to affiliate | 38,257 | 19,064 |
Net advances to (from) affiliate | -293,696 | -180,297 |
Minimum withholding of taxes related to stock compensation | -2,719 | -3,465 |
Excess tax benefit from stock compensation | 2,096 | ' |
Settlement of derivative instruments | ' | 3 |
Net cash used in financing activities | -907,646 | -309,533 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | -714,922 | -126,665 |
Beginning of period | 735,507 | 965,400 |
End of period | 20,585 | ' |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | -2,476 | 1,820 |
Cash paid for income taxes | 136,405 | 122,150 |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 45,668 | ' |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | ' | 0 |
Capital Lease Obligations Incurred | 0 | ' |
Tax attributes related to Spin-Off (Non-Cash) | 0 | ' |
Subsidiary Issuer | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 177,324 | 204,085 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1,080 | 0 |
Amortization of program rights | 0 | 0 |
Program rights payments | 0 | 0 |
Amortization of investment in films and television programs | 0 | 0 |
Investment in films and television programs | 0 | 0 |
Stock compensation | 858 | 0 |
Payments of long term incentive plan | 0 | 0 |
Share of earnings of consolidated subsidiaries | -206,665 | -201,904 |
Deferred income taxes | -655 | -8,495 |
Other non-cash items | 1,816 | 4,406 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -283 | 0 |
Due to affiliate | 43,501 | 3,859 |
Payables and other liabilities | -12,249 | 1,309 |
Net cash provided by operating activities | 4,727 | 3,260 |
Investing activities: | ' | ' |
Investing activities – purchases of property and equipment | 0 | 0 |
Financing activities: | ' | ' |
Borrowings of debt | 1,081,000 | 500,000 |
Payments of debt | -598,368 | -500,000 |
Debt issuance costs | -2,348 | -8,007 |
Contributions (Distributions) to Parent | 600,000 | 100,000 |
Distributions to Old LMC related to stock compensation | ' | 0 |
Distributions to Old LMC | -1,200,000 | -400,000 |
Distributions to parent related to repurchases of common stock | -179,197 | ' |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 293,696 | 180,537 |
Minimum withholding of taxes related to stock compensation | 0 | 0 |
Excess tax benefit from stock compensation | 0 | ' |
Settlement of derivative instruments | ' | 0 |
Net cash used in financing activities | -5,217 | -127,470 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | -490 | -124,210 |
Beginning of period | 879 | 125,261 |
End of period | 389 | ' |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 41,651 | 10,596 |
Cash paid for income taxes | -814 | 0 |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 0 | ' |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | ' | 2,209 |
Capital Lease Obligations Incurred | 44,800 | ' |
Tax attributes related to Spin-Off (Non-Cash) | 11,253 | ' |
Non-Guarantor Subsidiaries | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | 8,718 | -3,150 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 2,311 | 4,300 |
Amortization of program rights | 0 | 0 |
Program rights payments | 0 | 0 |
Amortization of investment in films and television programs | 153,733 | 71,411 |
Investment in films and television programs | -115,287 | -88,983 |
Stock compensation | 1,398 | 879 |
Payments of long term incentive plan | 0 | 0 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | 0 | 0 |
Other non-cash items | 7,399 | -1,833 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -68,449 | -5,572 |
Due to affiliate | -3,768 | 2,601 |
Payables and other liabilities | 438 | -2,440 |
Net cash provided by operating activities | -13,507 | -22,787 |
Investing activities: | ' | ' |
Investing activities – purchases of property and equipment | -94 | -119 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Debt issuance costs | 0 | 0 |
Contributions (Distributions) to Parent | 0 | 0 |
Distributions to Old LMC related to stock compensation | ' | 0 |
Distributions to Old LMC | 0 | 0 |
Distributions to parent related to repurchases of common stock | 0 | ' |
Borrowings under notes payable to affiliate | 48,507 | 39,779 |
Repayments under notes payable to affiliate | -38,257 | -19,064 |
Net advances to (from) affiliate | 0 | -240 |
Minimum withholding of taxes related to stock compensation | -242 | -178 |
Excess tax benefit from stock compensation | 0 | ' |
Settlement of derivative instruments | ' | 0 |
Net cash used in financing activities | 10,008 | 20,297 |
Effect of exchange rate changes on cash and cash equivalents | -127 | 59 |
Net increase (decrease) in cash and cash equivalents | -3,720 | -2,550 |
Beginning of period | 13,388 | 9,226 |
End of period | 9,668 | ' |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 1,490 | 109 |
Cash paid for income taxes | -75 | 4,432 |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 0 | ' |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | ' | 0 |
Capital Lease Obligations Incurred | 0 | ' |
Tax attributes related to Spin-Off (Non-Cash) | 0 | ' |
Consolidation, Eliminations | ' | ' |
Operating activities: | ' | ' |
Net income (loss) | -184,067 | -188,456 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 0 | 0 |
Amortization of program rights | -1,084 | -4,850 |
Program rights payments | 1,330 | 1,520 |
Amortization of investment in films and television programs | 0 | 0 |
Investment in films and television programs | 0 | 0 |
Stock compensation | 0 | 0 |
Payments of long term incentive plan | 0 | 0 |
Share of earnings of consolidated subsidiaries | 206,665 | 201,904 |
Deferred income taxes | 23 | 9,177 |
Other non-cash items | -1,816 | -15,011 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | 2 | -156 |
Due to affiliate | 0 | -2,418 |
Payables and other liabilities | -21,053 | -1,710 |
Net cash provided by operating activities | 0 | 0 |
Investing activities: | ' | ' |
Investing activities – purchases of property and equipment | 0 | 0 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Debt issuance costs | 0 | 0 |
Contributions (Distributions) to Parent | 0 | 0 |
Distributions to Old LMC related to stock compensation | ' | 0 |
Distributions to Old LMC | 0 | 0 |
Distributions to parent related to repurchases of common stock | 0 | ' |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 0 | 0 |
Minimum withholding of taxes related to stock compensation | 0 | 0 |
Excess tax benefit from stock compensation | 0 | ' |
Settlement of derivative instruments | ' | 0 |
Net cash used in financing activities | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Beginning of period | 0 | 0 |
End of period | 0 | ' |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Distribution of corporate office building related to Spin-Off (Non-Cash) | 0 | ' |
Change in Deferred Tax Assets Due to Sale of Noncontrolling Interest | ' | 0 |
Capital Lease Obligations Incurred | 0 | ' |
Tax attributes related to Spin-Off (Non-Cash) | $0 | ' |