Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document and Entity Information [Abstract] | ' |
Entity Registrant Name | 'Starz, LLC |
Entity Central Index Key | '0001559270 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 0 |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q1 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $17.90 | $25.70 |
Restricted cash | 32.7 | 30.1 |
Trade accounts receivable, net of allowances of $32.1 and $32.8 | 259.9 | 247.1 |
Program rights, net | 369.3 | 271.8 |
Deferred income taxes | 0.5 | 0.5 |
Other current assets | 45.2 | 63.8 |
Total current assets | 725.5 | 639 |
Noncurrent assets: | ' | ' |
Program rights | 361.9 | 333.2 |
Investment in films and television programs, net | 187.3 | 194.6 |
Property and equipment, net of accumulated depreciation of $110.7 and $106.4 | 92.7 | 95.7 |
Deferred income taxes | 20.6 | 18.5 |
Goodwill | 131.8 | 131.8 |
Other assets, net | 40.1 | 37.2 |
Total assets | 1,559.90 | 1,450 |
Current liabilities: | ' | ' |
Current portion of debt (Note 2) | 5 | 4.9 |
Trade accounts payable | 7.8 | 7.3 |
Accrued liabilities (Notes 4, 6 and 7) | 375.8 | 297.8 |
Deferred revenue | 22.1 | 16.6 |
Total current liabilities | 410.7 | 326.6 |
Noncurrent liabilities: | ' | ' |
Debt (Note 2) | 1,073.10 | 1,054.50 |
Other liabilities (Note 6) | 12.8 | 14.2 |
Total liabilities | 1,496.60 | 1,395.30 |
Member's Equity [Abstract] | ' | ' |
Member’s interest | 68.6 | 61.9 |
Noncontrolling interests in subsidiaries | -5.3 | -7.2 |
Total member’s interest and noncontrolling interests | 63.3 | 54.7 |
Commitments and contingencies (Note 6) | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | $1,559.90 | $1,450 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Allowances for trade accounts receivable | $32.10 | $32.80 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $110.70 | $106.40 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue: | ' | ' |
Programming networks and other services | $363.30 | $349.50 |
Home video net sales | 56.7 | 49.8 |
Total revenue | 420 | 399.3 |
Costs and expenses: | ' | ' |
Programming (including amortization) (Note 6) | 156.2 | 146 |
Production and acquisition (including amortization) (Note 4) | 40.9 | 39.8 |
Home video cost of sales | 13 | 15.1 |
Operating | 14 | 12.7 |
Selling, general and administrative | 69.7 | 69.2 |
Stock compensation (Note 3) | 7.8 | 7.3 |
Depreciation and amortization | 4.9 | 4.4 |
Total costs and expenses | 306.5 | 294.5 |
Operating income | 113.5 | 104.8 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized (Note 2) | -11.5 | -10.2 |
Other income (expense), net | 0.5 | -1.5 |
Income before income taxes | 102.5 | 93.1 |
Income tax expense (Note 5) | -35.7 | -34.9 |
Net income | 66.8 | 58.2 |
Net income attributable to noncontrolling interests | -1.9 | -0.3 |
Net income attributable to member | $64.90 | $57.90 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Net income | $66.80 | $58.20 |
Other comprehensive income (loss), net of taxes - | ' | ' |
Foreign currency translation adjustments from operations | -0.2 | 0.1 |
Comprehensive income | 66.6 | 58.3 |
Comprehensive income attributable to noncontrolling interests | -1.9 | -0.3 |
Comprehensive income attributable to member | $64.70 | $58 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating activities: | ' | ' |
Net income | $66.80 | $58.20 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 4.9 | 4.4 |
Amortization of program rights | 146.3 | 135.5 |
Program rights payments | -112.6 | -109.2 |
Amortization of investment in films and television programs | 36.2 | 27.4 |
Investment in films and television programs | -79.5 | -53.6 |
Stock compensation | 7.8 | 7.3 |
Payments of long term incentive plan | 0 | -2.4 |
Deferred income taxes | -2.1 | 17.9 |
Other non-cash items | 0.9 | -2.6 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -1.5 | -18.2 |
Due to affiliate | 0 | -39.5 |
Payables and other liabilities | -25.9 | 41.5 |
Net cash provided by operating activities | 41.3 | 66.7 |
Investing activities: | ' | ' |
Payments to Acquire Property, Plant, and Equipment | -1.3 | -0.7 |
Investing activities – purchases of property and equipment | -1.3 | -0.7 |
Financing activities: | ' | ' |
Borrowings of debt | 84 | 923.5 |
Payments of debt | -65.2 | -516.1 |
Debt issuance costs | 0 | -2.1 |
Contributions from parent related to exercise of stock options | 0.7 | ' |
Minimum withholding of taxes related to stock compensation | -5.7 | -0.7 |
Excess tax benefit from stock compensation | 4.4 | 0.4 |
Distributions to parent related to repurchases of common stock | -66 | -2.9 |
Distributions to Old LMC | 0 | -1,200 |
Net cash used in financing activities | -47.8 | -797.9 |
Net decrease in cash and cash equivalents | -7.8 | -731.9 |
Beginning of period | 25.7 | 749.8 |
End of period | $17.90 | $17.90 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity - Member’s Interest and Noncontrolling Interests (USD $) | Total | Member’s Interest | Noncontrolling Interests |
In Millions, unless otherwise specified | |||
Balance at Dec. 31, 2013 | $54.70 | $61.90 | ($7.20) |
Increase (Decrease) in Member's Interest and Noncontrolling Interests [Roll Forward] | ' | ' | ' |
Net income | 66.8 | 64.9 | 1.9 |
Other comprehensive loss | -0.2 | -0.2 | 0 |
Stock compensation | 8.6 | 8.6 | 0 |
Contributions from parent related to exercise of stock options | 0.7 | 0.7 | ' |
Minimum withholding of taxes related to stock compensation | -5.7 | -5.7 | ' |
Excess tax benefit from stock compensation | 4.4 | 4.4 | ' |
Distributions to parent related to repurchases of common stock | -66 | -66 | ' |
Balance at Mar. 31, 2014 | $63.30 | $68.60 | ($5.30) |
Basis_of_Presentation_and_Desc
Basis of Presentation and Description of Business | 3 Months Ended |
Mar. 31, 2014 | |
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, 2013. | |
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”)). 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. | |
Business | |
Starz, LLC’s business operations are conducted by its wholly-owned subsidiaries Starz Entertainment, LLC (“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 (“Weinstein”) 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 Weinstein’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, Netflix and Redbox. | |
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 Weinstein’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 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 2014 presentation. |
Debt
Debt | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt | ' | |||||||
Debt | ||||||||
Debt consists of the following (in millions): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Revolving Credit Facility (a) | $ | 326.5 | $ | 306.5 | ||||
Senior Notes, including premium of $2.9 and $3.0 (b) | 677.9 | 678 | ||||||
Capital leases (c) | 73.7 | 74.9 | ||||||
Total debt | 1,078.10 | 1,059.40 | ||||||
Less current portion of debt | (5.0 | ) | (4.9 | ) | ||||
Debt | $ | 1,073.10 | $ | 1,054.50 | ||||
(a) | Starz, LLC has entered into a credit agreement that provides for a $1,000.0 million senior secured revolving credit facility, with a $50.0 million sub-limit for standby letters of credit (“Revolving Credit Facility”) which matures on November 16, 2016. As of March 31, 2014, $673.5 million of borrowing capacity was available under the Revolving Credit Facility. | |||||||
Interest on each loan under the Revolving Credit Facility 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 credit agreement. 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 credit agreement requires 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 March 31, 2014, the following borrowings and related LIBOR or alternate base rate interest rates were outstanding under the Revolving Credit Facility (dollars in millions): | ||||||||
LIBOR or alternate base rate period: | Interest Rate | Loan Amount | ||||||
March 2014 to April 2014 | 1.90% | $ | 21 | |||||
March 2014 to April 2014 | 1.90% | 254 | ||||||
March 2014 to April 2014 | 1.90% | 44 | ||||||
March 2014 and forward | 4.00% | 7.5 | ||||||
$ | 326.5 | |||||||
The credit agreement contains 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the credit agreement. | ||||||||
(b) | Starz, LLC and Starz Finance Corp., a wholly-owned subsidiary, co-issued $675.0 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 and are guaranteed by Starz Entertainment. | |||||||
The Senior 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the Senior Notes. | ||||||||
(c) | On January 11, 2013, Starz, LLC entered into a commercial lease with a subsidiary of Liberty Media 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 March 31, 2014, the fair value of the Senior Notes was $699.8 million and was based upon quoted prices in active markets. Starz, LLC believes the fair value of the Revolving Credit Facility approximates its carrying value as of March 31, 2014 due to its variable rate nature and Starz, LLC’s stable credit spread. | ||||||||
Amounts totaling $0.9 million and $1.3 million of interest expense have been capitalized as investment in films and television programs during the three months ended March 31, 2014 and 2013, respectively. |
Stock_Options_and_Long_Term_In
Stock Options and Long Term Incentive Plan | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Stock Options and Restricted Stock | ' | ||||||
Stock Options and Restricted Stock | |||||||
Starz has granted to certain of its directors and employees, stock options to purchase Series A common stock and restricted shares of Series A common stock pursuant to the Starz incentive plans. As of March 31, 2014, the total unrecognized compensation cost related to the unvested stock options and restricted stock was approximately $73.1 million. Such amount will be recognized in Starz, LLC’s condensed consolidated statements of operations over a weighted average period of approximately 2.72 years. | |||||||
The following table presents the number and weighted average exercise price (“WAEP”) of stock options to purchase Starz common stock: | |||||||
Options | WAEP | ||||||
Outstanding at December 31, 2013 | 15,479,560 | $ | 15.94 | ||||
Granted | — | $ | — | ||||
Exercised | (854,520 | ) | $ | 12.13 | |||
Forfeited | (91,492 | ) | $ | 16.46 | |||
Expired/canceled | — | $ | — | ||||
Outstanding at March 31, 2014 | 14,533,548 | $ | 16.16 | ||||
Exercisable at March 31, 2014 | 4,341,661 | $ | 13.25 | ||||
At March 31, 2014, the weighted-average remaining contractual terms of the outstanding options is 6.2 years and the exercisable options is 5.2 years. At March 31, 2014, the aggregate intrinsic value of the outstanding options is $234.3 million and the exercisable options is $82.6 million. | |||||||
The following table presents the number and weighted-average grant date fair value of restricted stock grants: | |||||||
Restricted Stock | Weighted | ||||||
Average Grant-Date Fair Value | |||||||
Outstanding at December 31, 2013 | 579,135 | $ | 22.86 | ||||
Granted | 2,730 | $ | 32.66 | ||||
Vested | (115,971 | ) | $ | 18.74 | |||
Forfeited | — | $ | — | ||||
Outstanding at March 31, 2014 | 465,894 | $ | 23.91 | ||||
Related_Party_Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
In December 2010, Anchor Bay Entertainment entered into a five-year license agreement with Weinstein for the distribution, by the Home Video and Digital Media businesses, of certain of Weinstein’s theatrical releases. Starz, LLC recognized expense of $26.1 million and $17.0 million, which is included in production and acquisition costs in the accompanying condensed consolidated statements of operations, for Weinstein’s share of the net proceeds under the license agreement for the three months ended March 31, 2014 and 2013, respectively. Amounts due to Weinstein totaled $74.8 million and $75.9 million, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets, at March 31, 2014 and December 31, 2013, respectively. Starz Entertainment guarantees Anchor Bay Entertainment’s advance payments to Weinstein under this agreement up to $50.0 million. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The income tax provision for the three months ended March 31, 2014 is calculated by estimating Starz, LLC’s annual effective tax rate and then applying the effective tax rate to income before income taxes for the period, plus or minus the tax effects of items that relate discretely to the period, if any. For the three months ended March 31, 2014, income tax expense differs from the amounts computed by applying the U.S. federal income tax rate of 35% due to a benefit from Internal Revenue Code Section 199, which allows U.S. taxpayers a deduction for qualified domestic production activities. In addition, income tax expense differs due to state and local taxes for both the three months ended March 31, 2014 and 2013. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Programming Rights | |
Starz has an exclusive 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, Sony Pictures Animation and TriStar labels through 2021, subject to certain limitations, including Sony’s right to withhold films released by Sony Pictures Animation. In addition, Starz has an exclusive long-term licensing agreement for theatrically released films from the Walt Disney Company (“Disney”) through 2015. The agreement provides Starz 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 under the Disney 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 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 program rights related to films that were available for exhibition at March 31, 2014 is reflected in accrued liabilities and in other liabilities in the accompanying condensed consolidated balance sheets. As of March 31, 2014, such liabilities aggregated approximately $148.8 million and are payable as follows: $136.9 million in 2014, $11.8 million in 2015 and $0.1 million in 2016. | |
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 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 March 31, 2014, are as follows: $166.3 million in 2014; $228.5 million in 2015; $102.1 million in 2016; $96.7 million in 2017; $91.0 million in 2018 and $206.4 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 $146.3 million and $135.5 million for the three months ended March 31, 2014 and 2013, respectively. These amounts are included in programming costs in the accompanying condensed consolidated statements of operations. | |
Legal Proceedings | |
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 will not have a material adverse impact on Starz, LLC’s consolidated financial position, results of operations or liquidity. |
Other_Information
Other Information | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Other Information [Abstract] | ' | |||||||
Other Information | ' | |||||||
Other Information | ||||||||
Accrued Liabilities | ||||||||
Accrued liabilities consist of the following (in millions): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Royalties, residuals and participations | $ | 70 | $ | 81.4 | ||||
Participations payable to Weinstein | 74.8 | 75.9 | ||||||
Program rights payable | 141 | 32.2 | ||||||
Advertising and marketing | 39.6 | 41.6 | ||||||
Payroll and related costs | 16 | 28.7 | ||||||
Other | 34.4 | 38 | ||||||
$ | 375.8 | $ | 297.8 | |||||
Supplemental Disclosure of Cash Flow Information | ||||||||
The following table presents the supplemental disclosure of cash flow information (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Cash paid for interest, net of amounts capitalized | $ | 19.4 | $ | 19.1 | ||||
Cash paid for income taxes | $ | 2.6 | $ | 16.5 | ||||
Distribution of corporate office building to Old LMC | $ | — | $ | 45.7 | ||||
Capital lease related to commercial lease with subsidiary of Liberty Media | $ | — | $ | 44.8 | ||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11.6 | ||||
Information_about_Operating_Se
Information about Operating Segments | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
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. | ||||||||
The following table provides a reconciliation of Adjusted OIBDA to income before income taxes (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Consolidated Adjusted OIBDA | $ | 126.2 | $ | 116.5 | ||||
Stock compensation | (7.8 | ) | (7.3 | ) | ||||
Depreciation and amortization | (4.9 | ) | (4.4 | ) | ||||
Interest expense, net of amounts capitalized | (11.5 | ) | (10.2 | ) | ||||
Other income (expense), net | 0.5 | (1.5 | ) | |||||
Income before income taxes | $ | 102.5 | $ | 93.1 | ||||
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. Starz, LLC generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. | ||||||||
Performance Measures (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Revenue: | ||||||||
Starz Networks | $ | 324 | $ | 315.8 | ||||
Starz Distribution | 87.3 | 76.2 | ||||||
Starz Animation | 8.9 | 7.5 | ||||||
Inter-segment eliminations | (0.2 | ) | (0.2 | ) | ||||
Total Revenue | $ | 420 | $ | 399.3 | ||||
Adjusted OIBDA: | ||||||||
Starz Networks | $ | 114 | $ | 114.4 | ||||
Starz Distribution | 12.7 | 2.6 | ||||||
Starz Animation | (0.6 | ) | (0.6 | ) | ||||
Inter-segment eliminations | 0.1 | 0.1 | ||||||
Total Adjusted OIBDA | $ | 126.2 | $ | 116.5 | ||||
Other Information (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Cash paid for investment in films and television programs: | ||||||||
Starz Networks | $ | 55.5 | $ | 29.2 | ||||
Starz Distribution | 24 | 24.4 | ||||||
Starz Animation | — | — | ||||||
Inter-segment eliminations | — | — | ||||||
Total cash paid for investment in films and television programs | $ | 79.5 | $ | 53.6 | ||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Total assets: | ||||||||
Starz Networks | $ | 1,335.00 | $ | 1,197.70 | ||||
Starz Distribution | 188.5 | 188.8 | ||||||
Starz Animation | 3.4 | 2.8 | ||||||
Other unallocated assets (primarily cash, deferred taxes and other assets, including a commercial lease with subsidiary of Liberty Media) | 77.6 | 99.2 | ||||||
Inter-segment eliminations | (44.6 | ) | (38.5 | ) | ||||
Total assets | $ | 1,559.90 | $ | 1,450.00 | ||||
Supplemental_Guarantor_Condens
Supplemental Guarantor Condensed Consolidating Financial Information | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
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 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. | ||||||||||||||||||||
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 March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 12.2 | $ | 0.4 | $ | 5.3 | $ | — | $ | 17.9 | ||||||||||
Restricted cash | — | — | 32.7 | — | 32.7 | |||||||||||||||
Trade accounts receivable, net | 211.3 | — | 48.7 | (0.1 | ) | 259.9 | ||||||||||||||
Program rights, net | 370.6 | — | — | (1.3 | ) | 369.3 | ||||||||||||||
Deferred income taxes | 0.2 | 0.3 | — | — | 0.5 | |||||||||||||||
Notes receivable from affiliates | 25.3 | — | — | (25.3 | ) | — | ||||||||||||||
Other current assets | 29.8 | 0.9 | 14.5 | — | 45.2 | |||||||||||||||
Total current assets | 649.4 | 1.6 | 101.2 | (26.7 | ) | 725.5 | ||||||||||||||
Program rights | 367.7 | — | — | (5.8 | ) | 361.9 | ||||||||||||||
Investment in films and television programs, net | 116.1 | — | 71.2 | — | 187.3 | |||||||||||||||
Property and equipment, net | 49.1 | 43 | 0.6 | — | 92.7 | |||||||||||||||
Deferred income taxes | — | 20.6 | — | — | 20.6 | |||||||||||||||
Goodwill | 131.8 | — | — | — | 131.8 | |||||||||||||||
Other assets, net | 20.9 | 12.1 | 19.2 | (12.1 | ) | 40.1 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,559.30 | — | (1,559.3 | ) | — | ||||||||||||||
Total assets | $ | 1,335.00 | $ | 1,636.60 | $ | 192.2 | $ | (1,603.9 | ) | $ | 1,559.90 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4.5 | $ | 0.5 | $ | — | $ | — | $ | 5 | ||||||||||
Trade accounts payable | 5.5 | — | 2.3 | — | 7.8 | |||||||||||||||
Accrued liabilities | 207.7 | 15.1 | 155.4 | (2.4 | ) | 375.8 | ||||||||||||||
Notes payable due to affiliate | — | — | 25.3 | (25.3 | ) | — | ||||||||||||||
Due to (from) affiliates | (528.2 | ) | 526.3 | 1.9 | — | — | ||||||||||||||
Deferred revenue | 0.6 | — | 21.5 | — | 22.1 | |||||||||||||||
Total current liabilities | (309.9 | ) | 541.9 | 206.4 | (27.7 | ) | 410.7 | |||||||||||||
Debt | 1,029.50 | 1,048.00 | — | (1,004.4 | ) | 1,073.10 | ||||||||||||||
Deferred income taxes | 10 | (16.6 | ) | — | 6.6 | — | ||||||||||||||
Other liabilities | 9.7 | — | 8.4 | (5.3 | ) | 12.8 | ||||||||||||||
Total liabilities | 739.3 | 1,573.30 | 214.8 | (1,030.8 | ) | 1,496.60 | ||||||||||||||
Member’s interest (deficit) | 595.7 | 68.6 | (22.5 | ) | (573.2 | ) | 68.6 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (5.3 | ) | (0.1 | ) | 0.1 | (5.3 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 595.7 | 63.3 | (22.6 | ) | (573.1 | ) | 63.3 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,335.00 | $ | 1,636.60 | $ | 192.2 | $ | (1,603.9 | ) | $ | 1,559.90 | |||||||||
Consolidating Balance Sheet Information – As of December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 20.8 | $ | 0.4 | $ | 4.5 | $ | — | $ | 25.7 | ||||||||||
Restricted cash | — | — | 30.1 | — | 30.1 | |||||||||||||||
Trade accounts receivable, net | 208.1 | — | 39.8 | (0.8 | ) | 247.1 | ||||||||||||||
Program rights, net | 273.3 | — | — | (1.5 | ) | 271.8 | ||||||||||||||
Deferred income taxes | 0.2 | 0.3 | — | — | 0.5 | |||||||||||||||
Notes receivable from affiliates | 17.7 | — | — | (17.7 | ) | — | ||||||||||||||
Other current assets | 24 | 23.8 | 16 | — | 63.8 | |||||||||||||||
Total current assets | 544.1 | 24.5 | 90.4 | (20.0 | ) | 639 | ||||||||||||||
Program rights | 338.9 | — | — | (5.7 | ) | 333.2 | ||||||||||||||
Investment in films and television programs, net | 114.3 | — | 80.3 | — | 194.6 | |||||||||||||||
Property and equipment, net | 51.6 | 43.3 | 0.8 | — | 95.7 | |||||||||||||||
Deferred income taxes | — | 18.5 | — | — | 18.5 | |||||||||||||||
Goodwill | 131.8 | — | — | — | 131.8 | |||||||||||||||
Other assets, net | 17 | 12.9 | 20.2 | (12.9 | ) | 37.2 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,471.60 | — | (1,471.6 | ) | — | ||||||||||||||
Total assets | $ | 1,197.70 | $ | 1,570.80 | $ | 191.7 | $ | (1,510.2 | ) | $ | 1,450.00 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4.4 | $ | 0.5 | $ | — | $ | — | $ | 4.9 | ||||||||||
Trade accounts payable | 6.1 | — | 1.2 | — | 7.3 | |||||||||||||||
Accrued liabilities | 113.6 | 19.2 | 176.5 | (11.5 | ) | 297.8 | ||||||||||||||
Notes payable due to affiliate | — | — | 17.7 | (17.7 | ) | — | ||||||||||||||
Due to (from) affiliates | (491.3 | ) | 490.1 | 1.2 | — | — | ||||||||||||||
Deferred revenue | 0.6 | — | 16 | — | 16.6 | |||||||||||||||
Total current liabilities | (366.6 | ) | 509.8 | 212.6 | (29.2 | ) | 326.6 | |||||||||||||
Debt | 1,010.80 | 1,028.30 | — | (984.6 | ) | 1,054.50 | ||||||||||||||
Deferred income taxes | 14.9 | (22.0 | ) | — | 7.1 | — | ||||||||||||||
Other liabilities | 11 | — | 8.6 | (5.4 | ) | 14.2 | ||||||||||||||
Total liabilities | 670.1 | 1,516.10 | 221.2 | (1,012.1 | ) | 1,395.30 | ||||||||||||||
Member’s interest (deficit) | 527.6 | 61.9 | (29.4 | ) | (498.2 | ) | 61.9 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (7.2 | ) | (0.1 | ) | 0.1 | (7.2 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 527.6 | 54.7 | (29.5 | ) | (498.1 | ) | 54.7 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,197.70 | $ | 1,570.80 | $ | 191.7 | $ | (1,510.2 | ) | $ | 1,450.00 | |||||||||
Consolidating Statement of Operations Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 334.5 | $ | — | $ | 31.1 | $ | (2.3 | ) | $ | 363.3 | |||||||||
Home video net sales | 3.9 | — | 53.6 | (0.8 | ) | 56.7 | ||||||||||||||
Total revenue | 338.4 | — | 84.7 | (3.1 | ) | 420 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming (including amortization) | 156.6 | — | — | (0.4 | ) | 156.2 | ||||||||||||||
Production and acquisition (including amortization) | 5.9 | — | 35 | — | 40.9 | |||||||||||||||
Home video cost of sales | 2.7 | — | 11.1 | (0.8 | ) | 13 | ||||||||||||||
Operating | 6.5 | — | 9.6 | (2.1 | ) | 14 | ||||||||||||||
Selling, general and administrative | 49.7 | 1.3 | 18.7 | — | 69.7 | |||||||||||||||
Stock compensation | 6.8 | 0.4 | 0.6 | — | 7.8 | |||||||||||||||
Depreciation and amortization | 3.8 | 0.3 | 0.8 | — | 4.9 | |||||||||||||||
Total costs and expenses | 232 | 2 | 75.8 | (3.3 | ) | 306.5 | ||||||||||||||
Operating income (loss) | 106.4 | (2.0 | ) | 8.9 | 0.2 | 113.5 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (10.8 | ) | (11.9 | ) | — | 11.2 | (11.5 | ) | ||||||||||||
Interest income (expense), related party | 0.2 | — | (0.2 | ) | — | — | ||||||||||||||
Other income (expense), net | 0.4 | — | 0.1 | — | 0.5 | |||||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 96.2 | (13.9 | ) | 8.8 | 11.4 | 102.5 | ||||||||||||||
Income tax benefit (expense) | (33.1 | ) | 3.2 | (1.8 | ) | (4.0 | ) | (35.7 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 77.5 | — | (77.5 | ) | — | ||||||||||||||
Net income | 63.1 | 66.8 | 7 | (70.1 | ) | 66.8 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (1.9 | ) | — | — | (1.9 | ) | |||||||||||||
Net income attributable to member | $ | 63.1 | $ | 64.9 | $ | 7 | $ | (70.1 | ) | $ | 64.9 | |||||||||
Consolidating Statement of Comprehensive Income Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 63.1 | $ | 66.8 | $ | 7 | $ | (70.1 | ) | $ | 66.8 | |||||||||
Other comprehensive loss, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | (0.2 | ) | (0.2 | ) | 0.2 | (0.2 | ) | ||||||||||||
Comprehensive income | 63.1 | 66.6 | 6.8 | (69.9 | ) | 66.6 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (1.9 | ) | — | — | (1.9 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 63.1 | $ | 64.7 | $ | 6.8 | $ | (69.9 | ) | $ | 64.7 | |||||||||
Consolidating Statement of Operations Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 324.1 | $ | — | $ | 27.3 | $ | (1.9 | ) | $ | 349.5 | |||||||||
Home video net sales | 5.9 | — | 45.1 | (1.2 | ) | 49.8 | ||||||||||||||
Total revenue | 330 | — | 72.4 | (3.1 | ) | 399.3 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming (including amortization) | 146.3 | — | — | (0.3 | ) | 146 | ||||||||||||||
Production and acquisition (including amortization) | 6.4 | — | 33.4 | — | 39.8 | |||||||||||||||
Home video cost of sales | 3.8 | — | 12.5 | (1.2 | ) | 15.1 | ||||||||||||||
Operating | 5.8 | — | 8.5 | (1.6 | ) | 12.7 | ||||||||||||||
Selling, general and administrative | 52.8 | 1.3 | 15.1 | — | 69.2 | |||||||||||||||
Stock compensation | 6.3 | 0.6 | 0.4 | — | 7.3 | |||||||||||||||
Depreciation and amortization | 3.3 | 0.3 | 0.8 | — | 4.4 | |||||||||||||||
Total costs and expenses | 224.7 | 2.2 | 70.7 | (3.1 | ) | 294.5 | ||||||||||||||
Operating income (loss) | 105.3 | (2.2 | ) | 1.7 | — | 104.8 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (9.6 | ) | (10.9 | ) | — | 10.3 | (10.2 | ) | ||||||||||||
Interest income (expense), related party | 0.5 | — | (0.5 | ) | — | — | ||||||||||||||
Other income (expense), net | (1.7 | ) | — | (1.3 | ) | 1.5 | (1.5 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 94.5 | (13.1 | ) | (0.1 | ) | 11.8 | 93.1 | |||||||||||||
Income tax benefit (expense) | (34.4 | ) | 4.4 | (0.5 | ) | (4.4 | ) | (34.9 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 66.9 | — | (66.9 | ) | — | ||||||||||||||
Net income (loss) | 60.1 | 58.2 | (0.6 | ) | (59.5 | ) | 58.2 | |||||||||||||
Net income attributable to noncontrolling interests | — | (0.3 | ) | — | — | (0.3 | ) | |||||||||||||
Net income (loss) attributable to member | $ | 60.1 | $ | 57.9 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 57.9 | ||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 60.1 | $ | 58.2 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58.2 | ||||||||
Other comprehensive income, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 0.1 | — | — | 0.1 | |||||||||||||||
Comprehensive income (loss) | 60.1 | 58.3 | (0.6 | ) | (59.5 | ) | 58.3 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (0.3 | ) | — | — | (0.3 | ) | |||||||||||||
Comprehensive income (loss) attributable to member | $ | 60.1 | $ | 58 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58 | ||||||||
Consolidating Statement of Cash Flows’ Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 63.1 | $ | 66.8 | $ | 7 | $ | (70.1 | ) | $ | 66.8 | |||||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 3.8 | 0.3 | 0.8 | — | 4.9 | |||||||||||||||
Amortization of program rights | 146.7 | — | — | (0.4 | ) | 146.3 | ||||||||||||||
Program rights payments | (113.5 | ) | — | — | 0.9 | (112.6 | ) | |||||||||||||
Amortization of investment in films and television programs | 5.8 | — | 30.4 | — | 36.2 | |||||||||||||||
Investment in films and television programs | (57.0 | ) | — | (22.5 | ) | — | (79.5 | ) | ||||||||||||
Stock compensation | 6.8 | 0.4 | 0.6 | — | 7.8 | |||||||||||||||
Share of earnings of consolidated subsidiaries | — | (77.5 | ) | — | 77.5 | — | ||||||||||||||
Deferred income taxes | (4.9 | ) | 3.3 | — | (0.5 | ) | (2.1 | ) | ||||||||||||
Other non-cash items | 0.7 | 0.6 | 0.2 | (0.6 | ) | 0.9 | ||||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (13.9 | ) | 23 | (9.9 | ) | (0.7 | ) | (1.5 | ) | |||||||||||
Due to / from affiliates | 8.4 | (9.1 | ) | 0.7 | — | — | ||||||||||||||
Payables and other liabilities | 1.6 | (7.7 | ) | (13.7 | ) | (6.1 | ) | (25.9 | ) | |||||||||||
Net cash provided by (used in) operating activities | 47.6 | 0.1 | (6.4 | ) | — | 41.3 | ||||||||||||||
Investing activities – purchases of property and equipment | (1.3 | ) | — | — | — | (1.3 | ) | |||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 84 | — | — | 84 | |||||||||||||||
Payments of debt | (1.1 | ) | (64.1 | ) | — | — | (65.2 | ) | ||||||||||||
Borrowings under notes payable to affiliate | (25.2 | ) | — | 25.2 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 17.6 | — | (17.6 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (45.3 | ) | 45.3 | — | — | — | ||||||||||||||
Contribution from parent related to exercise of stock options | — | 0.7 | — | — | 0.7 | |||||||||||||||
Minimum withholding of taxes related to stock compensation | (5.3 | ) | — | (0.4 | ) | — | (5.7 | ) | ||||||||||||
Excess tax benefit from stock compensation | 4.4 | — | — | — | 4.4 | |||||||||||||||
Distributions to parent for repurchase of common stock | — | (66.0 | ) | — | — | (66.0 | ) | |||||||||||||
Net cash provided by (used in) financing activities | (54.9 | ) | (0.1 | ) | 7.2 | — | (47.8 | ) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | (8.6 | ) | — | 0.8 | — | (7.8 | ) | |||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 20.8 | 0.4 | 4.5 | — | 25.7 | |||||||||||||||
End of period | $ | 12.2 | $ | 0.4 | $ | 5.3 | $ | — | $ | 17.9 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (0.6 | ) | $ | 19.8 | $ | 0.2 | $ | — | $ | 19.4 | |||||||||
Cash paid for income taxes | $ | 2.3 | $ | — | $ | 0.3 | $ | — | $ | 2.6 | ||||||||||
Consolidating Statement of Cash Flows’ Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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) | $ | 60.1 | $ | 58.2 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58.2 | ||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 3.3 | 0.3 | 0.8 | — | 4.4 | |||||||||||||||
Amortization of program rights | 135.9 | — | — | (0.4 | ) | 135.5 | ||||||||||||||
Program rights payments | (109.4 | ) | — | — | 0.2 | (109.2 | ) | |||||||||||||
Amortization of investment in films and television programs | 5.8 | — | 21.6 | — | 27.4 | |||||||||||||||
Investment in films and television programs | (29.2 | ) | — | (24.4 | ) | — | (53.6 | ) | ||||||||||||
Stock compensation | 6.3 | 0.6 | 0.4 | — | 7.3 | |||||||||||||||
Payments of long term incentive plan | (2.4 | ) | — | — | — | (2.4 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (66.9 | ) | — | 66.9 | — | ||||||||||||||
Deferred income taxes | 17.9 | (0.1 | ) | — | 0.1 | 17.9 | ||||||||||||||
Other non-cash items | 1.3 | 0.6 | (3.9 | ) | (0.6 | ) | (2.6 | ) | ||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (6.2 | ) | (0.6 | ) | (11.4 | ) | — | (18.2 | ) | |||||||||||
Due to / from affiliates | (55.6 | ) | 22.6 | (6.5 | ) | — | (39.5 | ) | ||||||||||||
Payables and other liabilities | 43.8 | (10.5 | ) | 14.9 | (6.7 | ) | 41.5 | |||||||||||||
Net cash provided by (used in) operating activities | 71.6 | 4.2 | (9.1 | ) | — | 66.7 | ||||||||||||||
Investing activities – purchases of property and equipment | (0.6 | ) | — | (0.1 | ) | — | (0.7 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 923.5 | — | — | 923.5 | |||||||||||||||
Payments of debt | (1.0 | ) | (515.1 | ) | — | — | (516.1 | ) | ||||||||||||
Debt issuance costs | — | (2.1 | ) | — | — | (2.1 | ) | |||||||||||||
Borrowings under notes payable to affiliate | (10.4 | ) | — | 10.4 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 8.8 | — | (8.8 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (191.9 | ) | 191.9 | — | — | — | ||||||||||||||
Minimum withholding of taxes related to stock compensation | (0.7 | ) | — | — | — | (0.7 | ) | |||||||||||||
Excess tax benefit from stock compensation | 0.4 | — | — | — | 0.4 | |||||||||||||||
Distributions to parent for repurchase of common stock | — | (2.9 | ) | — | — | (2.9 | ) | |||||||||||||
Distributions to parent | (600.0 | ) | 600 | — | — | — | ||||||||||||||
Distributions to Old LMC | — | (1,200.0 | ) | — | — | (1,200.0 | ) | |||||||||||||
Net cash provided by (used in) financing activities | (794.8 | ) | (4.7 | ) | 1.6 | — | (797.9 | ) | ||||||||||||
Net decrease in cash and cash equivalents | (723.8 | ) | (0.5 | ) | (7.6 | ) | — | (731.9 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 735.5 | 0.9 | 13.4 | — | 749.8 | |||||||||||||||
End of period | $ | 11.7 | $ | 0.4 | $ | 5.8 | $ | — | $ | 17.9 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (1.3 | ) | $ | 19.8 | $ | 0.6 | $ | — | $ | 19.1 | |||||||||
Cash paid for income taxes | $ | 15.8 | $ | 0.9 | $ | (0.2 | ) | $ | — | $ | 16.5 | |||||||||
Distribution of corporate office building to Old LMC | $ | 45.7 | $ | — | $ | — | $ | — | $ | 45.7 | ||||||||||
Capital lease related to commercial lease with a subsidiary of Liberty Media | $ | — | $ | 44.8 | $ | — | $ | — | $ | 44.8 | ||||||||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11.6 | $ | — | $ | — | $ | 11.6 | ||||||||||
Basis_of_Presentation_and_Desc1
Basis of Presentation and Description of Business Basis of Presentation and Description of Business (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
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 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 2014 presentation. |
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Debt | ' | |||||||
Debt consists of the following (in millions): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Revolving Credit Facility (a) | $ | 326.5 | $ | 306.5 | ||||
Senior Notes, including premium of $2.9 and $3.0 (b) | 677.9 | 678 | ||||||
Capital leases (c) | 73.7 | 74.9 | ||||||
Total debt | 1,078.10 | 1,059.40 | ||||||
Less current portion of debt | (5.0 | ) | (4.9 | ) | ||||
Debt | $ | 1,073.10 | $ | 1,054.50 | ||||
(a) | Starz, LLC has entered into a credit agreement that provides for a $1,000.0 million senior secured revolving credit facility, with a $50.0 million sub-limit for standby letters of credit (“Revolving Credit Facility”) which matures on November 16, 2016. As of March 31, 2014, $673.5 million of borrowing capacity was available under the Revolving Credit Facility. | |||||||
Interest on each loan under the Revolving Credit Facility 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 credit agreement. 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 credit agreement requires 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 March 31, 2014, the following borrowings and related LIBOR or alternate base rate interest rates were outstanding under the Revolving Credit Facility (dollars in millions): | ||||||||
LIBOR or alternate base rate period: | Interest Rate | Loan Amount | ||||||
March 2014 to April 2014 | 1.90% | $ | 21 | |||||
March 2014 to April 2014 | 1.90% | 254 | ||||||
March 2014 to April 2014 | 1.90% | 44 | ||||||
March 2014 and forward | 4.00% | 7.5 | ||||||
$ | 326.5 | |||||||
The credit agreement contains 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the credit agreement. | ||||||||
(b) | Starz, LLC and Starz Finance Corp., a wholly-owned subsidiary, co-issued $675.0 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 and are guaranteed by Starz Entertainment. | |||||||
The Senior 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the Senior Notes. | ||||||||
(c) | On January 11, 2013, Starz, LLC entered into a commercial lease with a subsidiary of Liberty Media 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_Restricted_S
Stock Options and Restricted Stock (Tables) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||
The following table presents the number and weighted-average grant date fair value of restricted stock grants: | |||||||
Restricted Stock | Weighted | ||||||
Average Grant-Date Fair Value | |||||||
Outstanding at December 31, 2013 | 579,135 | $ | 22.86 | ||||
Granted | 2,730 | $ | 32.66 | ||||
Vested | (115,971 | ) | $ | 18.74 | |||
Forfeited | — | $ | — | ||||
Outstanding at March 31, 2014 | 465,894 | $ | 23.91 | ||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | ||||||
Options | WAEP | ||||||
Outstanding at December 31, 2013 | 15,479,560 | $ | 15.94 | ||||
Granted | — | $ | — | ||||
Exercised | (854,520 | ) | $ | 12.13 | |||
Forfeited | (91,492 | ) | $ | 16.46 | |||
Expired/canceled | — | $ | — | ||||
Outstanding at March 31, 2014 | 14,533,548 | $ | 16.16 | ||||
Exercisable at March 31, 2014 | 4,341,661 | $ | 13.25 | ||||
Other_Information_Tables
Other Information (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Other Information [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued liabilities consist of the following (in millions): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Royalties, residuals and participations | $ | 70 | $ | 81.4 | ||||
Participations payable to Weinstein | 74.8 | 75.9 | ||||||
Program rights payable | 141 | 32.2 | ||||||
Advertising and marketing | 39.6 | 41.6 | ||||||
Payroll and related costs | 16 | 28.7 | ||||||
Other | 34.4 | 38 | ||||||
$ | 375.8 | $ | 297.8 | |||||
Schedule of Cash Flow, Supplemental Disclosures | ' | |||||||
The following table presents the supplemental disclosure of cash flow information (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Cash paid for interest, net of amounts capitalized | $ | 19.4 | $ | 19.1 | ||||
Cash paid for income taxes | $ | 2.6 | $ | 16.5 | ||||
Distribution of corporate office building to Old LMC | $ | — | $ | 45.7 | ||||
Capital lease related to commercial lease with subsidiary of Liberty Media | $ | — | $ | 44.8 | ||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11.6 | ||||
Information_about_Operating_Se1
Information about Operating Segments (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
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 millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Consolidated Adjusted OIBDA | $ | 126.2 | $ | 116.5 | ||||
Stock compensation | (7.8 | ) | (7.3 | ) | ||||
Depreciation and amortization | (4.9 | ) | (4.4 | ) | ||||
Interest expense, net of amounts capitalized | (11.5 | ) | (10.2 | ) | ||||
Other income (expense), net | 0.5 | (1.5 | ) | |||||
Income before income taxes | $ | 102.5 | $ | 93.1 | ||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||
Performance Measures (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Revenue: | ||||||||
Starz Networks | $ | 324 | $ | 315.8 | ||||
Starz Distribution | 87.3 | 76.2 | ||||||
Starz Animation | 8.9 | 7.5 | ||||||
Inter-segment eliminations | (0.2 | ) | (0.2 | ) | ||||
Total Revenue | $ | 420 | $ | 399.3 | ||||
Adjusted OIBDA: | ||||||||
Starz Networks | $ | 114 | $ | 114.4 | ||||
Starz Distribution | 12.7 | 2.6 | ||||||
Starz Animation | (0.6 | ) | (0.6 | ) | ||||
Inter-segment eliminations | 0.1 | 0.1 | ||||||
Total Adjusted OIBDA | $ | 126.2 | $ | 116.5 | ||||
Other Information (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Cash paid for investment in films and television programs: | ||||||||
Starz Networks | $ | 55.5 | $ | 29.2 | ||||
Starz Distribution | 24 | 24.4 | ||||||
Starz Animation | — | — | ||||||
Inter-segment eliminations | — | — | ||||||
Total cash paid for investment in films and television programs | $ | 79.5 | $ | 53.6 | ||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Total assets: | ||||||||
Starz Networks | $ | 1,335.00 | $ | 1,197.70 | ||||
Starz Distribution | 188.5 | 188.8 | ||||||
Starz Animation | 3.4 | 2.8 | ||||||
Other unallocated assets (primarily cash, deferred taxes and other assets, including a commercial lease with subsidiary of Liberty Media) | 77.6 | 99.2 | ||||||
Inter-segment eliminations | (44.6 | ) | (38.5 | ) | ||||
Total assets | $ | 1,559.90 | $ | 1,450.00 | ||||
Supplemental_Guarantor_Condens1
Supplemental Guarantor Condensed Consolidating Financial Information (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
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 March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 12.2 | $ | 0.4 | $ | 5.3 | $ | — | $ | 17.9 | ||||||||||
Restricted cash | — | — | 32.7 | — | 32.7 | |||||||||||||||
Trade accounts receivable, net | 211.3 | — | 48.7 | (0.1 | ) | 259.9 | ||||||||||||||
Program rights, net | 370.6 | — | — | (1.3 | ) | 369.3 | ||||||||||||||
Deferred income taxes | 0.2 | 0.3 | — | — | 0.5 | |||||||||||||||
Notes receivable from affiliates | 25.3 | — | — | (25.3 | ) | — | ||||||||||||||
Other current assets | 29.8 | 0.9 | 14.5 | — | 45.2 | |||||||||||||||
Total current assets | 649.4 | 1.6 | 101.2 | (26.7 | ) | 725.5 | ||||||||||||||
Program rights | 367.7 | — | — | (5.8 | ) | 361.9 | ||||||||||||||
Investment in films and television programs, net | 116.1 | — | 71.2 | — | 187.3 | |||||||||||||||
Property and equipment, net | 49.1 | 43 | 0.6 | — | 92.7 | |||||||||||||||
Deferred income taxes | — | 20.6 | — | — | 20.6 | |||||||||||||||
Goodwill | 131.8 | — | — | — | 131.8 | |||||||||||||||
Other assets, net | 20.9 | 12.1 | 19.2 | (12.1 | ) | 40.1 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,559.30 | — | (1,559.3 | ) | — | ||||||||||||||
Total assets | $ | 1,335.00 | $ | 1,636.60 | $ | 192.2 | $ | (1,603.9 | ) | $ | 1,559.90 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4.5 | $ | 0.5 | $ | — | $ | — | $ | 5 | ||||||||||
Trade accounts payable | 5.5 | — | 2.3 | — | 7.8 | |||||||||||||||
Accrued liabilities | 207.7 | 15.1 | 155.4 | (2.4 | ) | 375.8 | ||||||||||||||
Notes payable due to affiliate | — | — | 25.3 | (25.3 | ) | — | ||||||||||||||
Due to (from) affiliates | (528.2 | ) | 526.3 | 1.9 | — | — | ||||||||||||||
Deferred revenue | 0.6 | — | 21.5 | — | 22.1 | |||||||||||||||
Total current liabilities | (309.9 | ) | 541.9 | 206.4 | (27.7 | ) | 410.7 | |||||||||||||
Debt | 1,029.50 | 1,048.00 | — | (1,004.4 | ) | 1,073.10 | ||||||||||||||
Deferred income taxes | 10 | (16.6 | ) | — | 6.6 | — | ||||||||||||||
Other liabilities | 9.7 | — | 8.4 | (5.3 | ) | 12.8 | ||||||||||||||
Total liabilities | 739.3 | 1,573.30 | 214.8 | (1,030.8 | ) | 1,496.60 | ||||||||||||||
Member’s interest (deficit) | 595.7 | 68.6 | (22.5 | ) | (573.2 | ) | 68.6 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (5.3 | ) | (0.1 | ) | 0.1 | (5.3 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 595.7 | 63.3 | (22.6 | ) | (573.1 | ) | 63.3 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,335.00 | $ | 1,636.60 | $ | 192.2 | $ | (1,603.9 | ) | $ | 1,559.90 | |||||||||
Consolidating Balance Sheet Information – As of December 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 20.8 | $ | 0.4 | $ | 4.5 | $ | — | $ | 25.7 | ||||||||||
Restricted cash | — | — | 30.1 | — | 30.1 | |||||||||||||||
Trade accounts receivable, net | 208.1 | — | 39.8 | (0.8 | ) | 247.1 | ||||||||||||||
Program rights, net | 273.3 | — | — | (1.5 | ) | 271.8 | ||||||||||||||
Deferred income taxes | 0.2 | 0.3 | — | — | 0.5 | |||||||||||||||
Notes receivable from affiliates | 17.7 | — | — | (17.7 | ) | — | ||||||||||||||
Other current assets | 24 | 23.8 | 16 | — | 63.8 | |||||||||||||||
Total current assets | 544.1 | 24.5 | 90.4 | (20.0 | ) | 639 | ||||||||||||||
Program rights | 338.9 | — | — | (5.7 | ) | 333.2 | ||||||||||||||
Investment in films and television programs, net | 114.3 | — | 80.3 | — | 194.6 | |||||||||||||||
Property and equipment, net | 51.6 | 43.3 | 0.8 | — | 95.7 | |||||||||||||||
Deferred income taxes | — | 18.5 | — | — | 18.5 | |||||||||||||||
Goodwill | 131.8 | — | — | — | 131.8 | |||||||||||||||
Other assets, net | 17 | 12.9 | 20.2 | (12.9 | ) | 37.2 | ||||||||||||||
Investment in consolidated subsidiaries | — | 1,471.60 | — | (1,471.6 | ) | — | ||||||||||||||
Total assets | $ | 1,197.70 | $ | 1,570.80 | $ | 191.7 | $ | (1,510.2 | ) | $ | 1,450.00 | |||||||||
Liabilities and Member’s Interest (Deficit) and Noncontrolling Interests | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Current portion of debt | $ | 4.4 | $ | 0.5 | $ | — | $ | — | $ | 4.9 | ||||||||||
Trade accounts payable | 6.1 | — | 1.2 | — | 7.3 | |||||||||||||||
Accrued liabilities | 113.6 | 19.2 | 176.5 | (11.5 | ) | 297.8 | ||||||||||||||
Notes payable due to affiliate | — | — | 17.7 | (17.7 | ) | — | ||||||||||||||
Due to (from) affiliates | (491.3 | ) | 490.1 | 1.2 | — | — | ||||||||||||||
Deferred revenue | 0.6 | — | 16 | — | 16.6 | |||||||||||||||
Total current liabilities | (366.6 | ) | 509.8 | 212.6 | (29.2 | ) | 326.6 | |||||||||||||
Debt | 1,010.80 | 1,028.30 | — | (984.6 | ) | 1,054.50 | ||||||||||||||
Deferred income taxes | 14.9 | (22.0 | ) | — | 7.1 | — | ||||||||||||||
Other liabilities | 11 | — | 8.6 | (5.4 | ) | 14.2 | ||||||||||||||
Total liabilities | 670.1 | 1,516.10 | 221.2 | (1,012.1 | ) | 1,395.30 | ||||||||||||||
Member’s interest (deficit) | 527.6 | 61.9 | (29.4 | ) | (498.2 | ) | 61.9 | |||||||||||||
Noncontrolling interests in subsidiaries | — | (7.2 | ) | (0.1 | ) | 0.1 | (7.2 | ) | ||||||||||||
Total member’s interest (deficit) and noncontrolling interests | 527.6 | 54.7 | (29.5 | ) | (498.1 | ) | 54.7 | |||||||||||||
Total liabilities and member’s interest (deficit) and noncontrolling interests | $ | 1,197.70 | $ | 1,570.80 | $ | 191.7 | $ | (1,510.2 | ) | $ | 1,450.00 | |||||||||
Schedule of Condensed Income Statement | ' | |||||||||||||||||||
Consolidating Statement of Operations Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 324.1 | $ | — | $ | 27.3 | $ | (1.9 | ) | $ | 349.5 | |||||||||
Home video net sales | 5.9 | — | 45.1 | (1.2 | ) | 49.8 | ||||||||||||||
Total revenue | 330 | — | 72.4 | (3.1 | ) | 399.3 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming (including amortization) | 146.3 | — | — | (0.3 | ) | 146 | ||||||||||||||
Production and acquisition (including amortization) | 6.4 | — | 33.4 | — | 39.8 | |||||||||||||||
Home video cost of sales | 3.8 | — | 12.5 | (1.2 | ) | 15.1 | ||||||||||||||
Operating | 5.8 | — | 8.5 | (1.6 | ) | 12.7 | ||||||||||||||
Selling, general and administrative | 52.8 | 1.3 | 15.1 | — | 69.2 | |||||||||||||||
Stock compensation | 6.3 | 0.6 | 0.4 | — | 7.3 | |||||||||||||||
Depreciation and amortization | 3.3 | 0.3 | 0.8 | — | 4.4 | |||||||||||||||
Total costs and expenses | 224.7 | 2.2 | 70.7 | (3.1 | ) | 294.5 | ||||||||||||||
Operating income (loss) | 105.3 | (2.2 | ) | 1.7 | — | 104.8 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (9.6 | ) | (10.9 | ) | — | 10.3 | (10.2 | ) | ||||||||||||
Interest income (expense), related party | 0.5 | — | (0.5 | ) | — | — | ||||||||||||||
Other income (expense), net | (1.7 | ) | — | (1.3 | ) | 1.5 | (1.5 | ) | ||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 94.5 | (13.1 | ) | (0.1 | ) | 11.8 | 93.1 | |||||||||||||
Income tax benefit (expense) | (34.4 | ) | 4.4 | (0.5 | ) | (4.4 | ) | (34.9 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 66.9 | — | (66.9 | ) | — | ||||||||||||||
Net income (loss) | 60.1 | 58.2 | (0.6 | ) | (59.5 | ) | 58.2 | |||||||||||||
Net income attributable to noncontrolling interests | — | (0.3 | ) | — | — | (0.3 | ) | |||||||||||||
Net income (loss) attributable to member | $ | 60.1 | $ | 57.9 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 57.9 | ||||||||
Consolidating Statement of Operations Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 334.5 | $ | — | $ | 31.1 | $ | (2.3 | ) | $ | 363.3 | |||||||||
Home video net sales | 3.9 | — | 53.6 | (0.8 | ) | 56.7 | ||||||||||||||
Total revenue | 338.4 | — | 84.7 | (3.1 | ) | 420 | ||||||||||||||
Costs and expenses: | ||||||||||||||||||||
Programming (including amortization) | 156.6 | — | — | (0.4 | ) | 156.2 | ||||||||||||||
Production and acquisition (including amortization) | 5.9 | — | 35 | — | 40.9 | |||||||||||||||
Home video cost of sales | 2.7 | — | 11.1 | (0.8 | ) | 13 | ||||||||||||||
Operating | 6.5 | — | 9.6 | (2.1 | ) | 14 | ||||||||||||||
Selling, general and administrative | 49.7 | 1.3 | 18.7 | — | 69.7 | |||||||||||||||
Stock compensation | 6.8 | 0.4 | 0.6 | — | 7.8 | |||||||||||||||
Depreciation and amortization | 3.8 | 0.3 | 0.8 | — | 4.9 | |||||||||||||||
Total costs and expenses | 232 | 2 | 75.8 | (3.3 | ) | 306.5 | ||||||||||||||
Operating income (loss) | 106.4 | (2.0 | ) | 8.9 | 0.2 | 113.5 | ||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest expense, net of amounts capitalized | (10.8 | ) | (11.9 | ) | — | 11.2 | (11.5 | ) | ||||||||||||
Interest income (expense), related party | 0.2 | — | (0.2 | ) | — | — | ||||||||||||||
Other income (expense), net | 0.4 | — | 0.1 | — | 0.5 | |||||||||||||||
Income (loss) before income taxes and share of earnings of consolidated subsidiaries | 96.2 | (13.9 | ) | 8.8 | 11.4 | 102.5 | ||||||||||||||
Income tax benefit (expense) | (33.1 | ) | 3.2 | (1.8 | ) | (4.0 | ) | (35.7 | ) | |||||||||||
Share of earnings of consolidated subsidiaries, net of taxes | — | 77.5 | — | (77.5 | ) | — | ||||||||||||||
Net income | 63.1 | 66.8 | 7 | (70.1 | ) | 66.8 | ||||||||||||||
Net income attributable to noncontrolling interests | — | (1.9 | ) | — | — | (1.9 | ) | |||||||||||||
Net income attributable to member | $ | 63.1 | $ | 64.9 | $ | 7 | $ | (70.1 | ) | $ | 64.9 | |||||||||
Schedule of Condensed Comprehensive Income (Loss) Statement | ' | |||||||||||||||||||
Consolidating Statement of Comprehensive Income Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income | $ | 63.1 | $ | 66.8 | $ | 7 | $ | (70.1 | ) | $ | 66.8 | |||||||||
Other comprehensive loss, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | (0.2 | ) | (0.2 | ) | 0.2 | (0.2 | ) | ||||||||||||
Comprehensive income | 63.1 | 66.6 | 6.8 | (69.9 | ) | 66.6 | ||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (1.9 | ) | — | — | (1.9 | ) | |||||||||||||
Comprehensive income attributable to member | $ | 63.1 | $ | 64.7 | $ | 6.8 | $ | (69.9 | ) | $ | 64.7 | |||||||||
Consolidating Statement of Comprehensive Income (Loss) Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
Starz | Starz Media | |||||||||||||||||||
Entertainment, LLC | and Other | |||||||||||||||||||
(Guarantor) | Businesses | |||||||||||||||||||
Starz, LLC | (Non-Guarantors) | Eliminations | Consolidated | |||||||||||||||||
Parent Only | Starz, LLC | |||||||||||||||||||
(Co-Issuer) | ||||||||||||||||||||
Net income (loss) | $ | 60.1 | $ | 58.2 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58.2 | ||||||||
Other comprehensive income, net of taxes - | ||||||||||||||||||||
Foreign currency translation adjustments | — | 0.1 | — | — | 0.1 | |||||||||||||||
Comprehensive income (loss) | 60.1 | 58.3 | (0.6 | ) | (59.5 | ) | 58.3 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | — | (0.3 | ) | — | — | (0.3 | ) | |||||||||||||
Comprehensive income (loss) attributable to member | $ | 60.1 | $ | 58 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58 | ||||||||
Schedule of Condensed Cash Flow Statement | ' | |||||||||||||||||||
Consolidating Statement of Cash Flows’ Information – For the Three Months Ended March 31, 2014 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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 | $ | 63.1 | $ | 66.8 | $ | 7 | $ | (70.1 | ) | $ | 66.8 | |||||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 3.8 | 0.3 | 0.8 | — | 4.9 | |||||||||||||||
Amortization of program rights | 146.7 | — | — | (0.4 | ) | 146.3 | ||||||||||||||
Program rights payments | (113.5 | ) | — | — | 0.9 | (112.6 | ) | |||||||||||||
Amortization of investment in films and television programs | 5.8 | — | 30.4 | — | 36.2 | |||||||||||||||
Investment in films and television programs | (57.0 | ) | — | (22.5 | ) | — | (79.5 | ) | ||||||||||||
Stock compensation | 6.8 | 0.4 | 0.6 | — | 7.8 | |||||||||||||||
Share of earnings of consolidated subsidiaries | — | (77.5 | ) | — | 77.5 | — | ||||||||||||||
Deferred income taxes | (4.9 | ) | 3.3 | — | (0.5 | ) | (2.1 | ) | ||||||||||||
Other non-cash items | 0.7 | 0.6 | 0.2 | (0.6 | ) | 0.9 | ||||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (13.9 | ) | 23 | (9.9 | ) | (0.7 | ) | (1.5 | ) | |||||||||||
Due to / from affiliates | 8.4 | (9.1 | ) | 0.7 | — | — | ||||||||||||||
Payables and other liabilities | 1.6 | (7.7 | ) | (13.7 | ) | (6.1 | ) | (25.9 | ) | |||||||||||
Net cash provided by (used in) operating activities | 47.6 | 0.1 | (6.4 | ) | — | 41.3 | ||||||||||||||
Investing activities – purchases of property and equipment | (1.3 | ) | — | — | — | (1.3 | ) | |||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 84 | — | — | 84 | |||||||||||||||
Payments of debt | (1.1 | ) | (64.1 | ) | — | — | (65.2 | ) | ||||||||||||
Borrowings under notes payable to affiliate | (25.2 | ) | — | 25.2 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 17.6 | — | (17.6 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (45.3 | ) | 45.3 | — | — | — | ||||||||||||||
Contribution from parent related to exercise of stock options | — | 0.7 | — | — | 0.7 | |||||||||||||||
Minimum withholding of taxes related to stock compensation | (5.3 | ) | — | (0.4 | ) | — | (5.7 | ) | ||||||||||||
Excess tax benefit from stock compensation | 4.4 | — | — | — | 4.4 | |||||||||||||||
Distributions to parent for repurchase of common stock | — | (66.0 | ) | — | — | (66.0 | ) | |||||||||||||
Net cash provided by (used in) financing activities | (54.9 | ) | (0.1 | ) | 7.2 | — | (47.8 | ) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | (8.6 | ) | — | 0.8 | — | (7.8 | ) | |||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 20.8 | 0.4 | 4.5 | — | 25.7 | |||||||||||||||
End of period | $ | 12.2 | $ | 0.4 | $ | 5.3 | $ | — | $ | 17.9 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (0.6 | ) | $ | 19.8 | $ | 0.2 | $ | — | $ | 19.4 | |||||||||
Cash paid for income taxes | $ | 2.3 | $ | — | $ | 0.3 | $ | — | $ | 2.6 | ||||||||||
Consolidating Statement of Cash Flows’ Information – For the Three Months Ended March 31, 2013 | ||||||||||||||||||||
(in millions) | ||||||||||||||||||||
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) | $ | 60.1 | $ | 58.2 | $ | (0.6 | ) | $ | (59.5 | ) | $ | 58.2 | ||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Depreciation and amortization | 3.3 | 0.3 | 0.8 | — | 4.4 | |||||||||||||||
Amortization of program rights | 135.9 | — | — | (0.4 | ) | 135.5 | ||||||||||||||
Program rights payments | (109.4 | ) | — | — | 0.2 | (109.2 | ) | |||||||||||||
Amortization of investment in films and television programs | 5.8 | — | 21.6 | — | 27.4 | |||||||||||||||
Investment in films and television programs | (29.2 | ) | — | (24.4 | ) | — | (53.6 | ) | ||||||||||||
Stock compensation | 6.3 | 0.6 | 0.4 | — | 7.3 | |||||||||||||||
Payments of long term incentive plan | (2.4 | ) | — | — | — | (2.4 | ) | |||||||||||||
Share of earnings of consolidated subsidiaries | — | (66.9 | ) | — | 66.9 | — | ||||||||||||||
Deferred income taxes | 17.9 | (0.1 | ) | — | 0.1 | 17.9 | ||||||||||||||
Other non-cash items | 1.3 | 0.6 | (3.9 | ) | (0.6 | ) | (2.6 | ) | ||||||||||||
Changes in assets and liabilities: | ||||||||||||||||||||
Current and other assets | (6.2 | ) | (0.6 | ) | (11.4 | ) | — | (18.2 | ) | |||||||||||
Due to / from affiliates | (55.6 | ) | 22.6 | (6.5 | ) | — | (39.5 | ) | ||||||||||||
Payables and other liabilities | 43.8 | (10.5 | ) | 14.9 | (6.7 | ) | 41.5 | |||||||||||||
Net cash provided by (used in) operating activities | 71.6 | 4.2 | (9.1 | ) | — | 66.7 | ||||||||||||||
Investing activities – purchases of property and equipment | (0.6 | ) | — | (0.1 | ) | — | (0.7 | ) | ||||||||||||
Financing activities: | ||||||||||||||||||||
Borrowings of debt | — | 923.5 | — | — | 923.5 | |||||||||||||||
Payments of debt | (1.0 | ) | (515.1 | ) | — | — | (516.1 | ) | ||||||||||||
Debt issuance costs | — | (2.1 | ) | — | — | (2.1 | ) | |||||||||||||
Borrowings under notes payable to affiliate | (10.4 | ) | — | 10.4 | — | — | ||||||||||||||
Repayments under notes payable to affiliate | 8.8 | — | (8.8 | ) | — | — | ||||||||||||||
Net advances to / from affiliate | (191.9 | ) | 191.9 | — | — | — | ||||||||||||||
Minimum withholding of taxes related to stock compensation | (0.7 | ) | — | — | — | (0.7 | ) | |||||||||||||
Excess tax benefit from stock compensation | 0.4 | — | — | — | 0.4 | |||||||||||||||
Distributions to parent for repurchase of common stock | — | (2.9 | ) | — | — | (2.9 | ) | |||||||||||||
Distributions to parent | (600.0 | ) | 600 | — | — | — | ||||||||||||||
Distributions to Old LMC | — | (1,200.0 | ) | — | — | (1,200.0 | ) | |||||||||||||
Net cash provided by (used in) financing activities | (794.8 | ) | (4.7 | ) | 1.6 | — | (797.9 | ) | ||||||||||||
Net decrease in cash and cash equivalents | (723.8 | ) | (0.5 | ) | (7.6 | ) | — | (731.9 | ) | |||||||||||
Cash and cash equivalents: | ||||||||||||||||||||
Beginning of period | 735.5 | 0.9 | 13.4 | — | 749.8 | |||||||||||||||
End of period | $ | 11.7 | $ | 0.4 | $ | 5.8 | $ | — | $ | 17.9 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||||||||||
Cash paid for interest, net of amounts capitalized | $ | (1.3 | ) | $ | 19.8 | $ | 0.6 | $ | — | $ | 19.1 | |||||||||
Cash paid for income taxes | $ | 15.8 | $ | 0.9 | $ | (0.2 | ) | $ | — | $ | 16.5 | |||||||||
Distribution of corporate office building to Old LMC | $ | 45.7 | $ | — | $ | — | $ | — | $ | 45.7 | ||||||||||
Capital lease related to commercial lease with a subsidiary of Liberty Media | $ | — | $ | 44.8 | $ | — | $ | — | $ | 44.8 | ||||||||||
Tax attributes related to LMC Spin-Off | $ | — | $ | 11.6 | $ | — | $ | — | $ | 11.6 | ||||||||||
Basis_of_Presentation_and_Desc2
Basis of Presentation and Description of Business (Details) | 3 Months Ended |
Mar. 31, 2014 | |
LMC Spin-Off [Line Items] | ' |
Number of linear networks containing programming | 17 |
Starz Media [Member] | ' |
LMC Spin-Off [Line Items] | ' |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 75.00% |
Weinstein [Member] | ' |
LMC Spin-Off [Line Items] | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 25.00% |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Jan. 11, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |||||||
Starz, LLC | Starz, LLC | Starz Entertainment | Starz Entertainment | 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 | Credit Facility 1 [Member] | Credit Facility 2 [Member] | Credit Facility 3 [Member] | Credit Facility 5 [Member] | ||||||||||
Minimum | Maximum | 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 | 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 | ||||||||||||||||
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) | Line of Credit | Line of Credit | Line of Credit | Line of Credit | |||||||||||||||||||||
Minimum | Maximum | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | Alternate Base Rate, Prime, Federal Funds, or LIBOR [Member] | |||||||||||||||||||||||
Minimum | Maximum | Minimum | Maximum | Starz, LLC | Starz, LLC | Starz, LLC | Starz, LLC | |||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | ' | ' | ' | ' | ' | ' | ' | $2,900,000 | $3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt | 1,078,100,000 | ' | 1,059,400,000 | ' | ' | ' | ' | 677,900,000 | [1] | 678,000,000 | [1] | ' | 73,700,000 | [2] | 74,900,000 | [2] | 326,500,000 | [3] | 306,500,000 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000,000 | 254,000,000 | 44,000,000 | 7,500,000 |
Debt, Current | -5,000,000 | ' | -4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt | 1,073,100,000 | ' | 1,054,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 673,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.90% | 1.90% | 1.90% | 4.00% | ||||||
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 675,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Leases, Period of Lease Agreement | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Leases, Successive Renewal Periods Available for Lease Agreement | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital lease related to commercial lease with subsidiary of Liberty Media | 0 | 44,800,000 | ' | 44,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Capital Lease Agreement, Imputed Annual Interest Rate | ' | ' | ' | ' | 6.40% | 5.50% | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Fair value of long-term debt | ' | ' | ' | ' | ' | ' | ' | 699,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Interest Costs Capitalized | $900,000 | $1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | Starz, LLC and Starz Finance Corp., a wholly-owned subsidiary, co-issued $675.0 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 and are guaranteed by Starz Entertainment.The Senior 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the Senior Notes. | |||||||||||||||||||||||||||||||||
[2] | On January 11, 2013, Starz, LLC entered into a commercial lease with a subsidiary of Liberty Media 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] | Starz, LLC has entered into a credit agreement that provides for a $1,000.0 million senior secured revolving credit facility, with a $50.0 million sub-limit for standby letters of credit (“Revolving Credit Facilityâ€) which matures on November 16, 2016. As of March 31, 2014, $673.5 million of borrowing capacity was available under the Revolving Credit Facility. Interest on each loan under the Revolving Credit Facility 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 credit agreement. 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 credit agreement requires 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 March 31, 2014, the following borrowings and related LIBOR or alternate base rate interest rates were outstanding under the Revolving Credit Facility (dollars in millions): LIBOR or alternate base rate period:Interest Rate Loan AmountMarch 2014 to April 20141.9045% $21.0March 2014 to April 20141.9044% 254.0March 2014 to April 20141.9043% 44.0March 2014 and forward4.0000% 7.5 $326.5The credit agreement contains 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 March 31, 2014, Starz, LLC was in compliance with all covenants under the credit agreement. |
Stock_Options_and_Restricted_S1
Stock Options and Restricted Stock - Narrative (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 2 months 12 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '5 years 2 months 12 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $234.30 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 82.6 |
Incentive Plan, Stock Options and Restricted Stock | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $73.10 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '2 years 8 months 19 days |
Stock_Options_and_Restricted_S2
Stock Options and Restricted Stock - Number and Weighted Average Exercise Price - Options (Details) (Award Type [Domain], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Award Type [Domain] | ' |
Options (in shares) | ' |
Outstanding at December 31, 2013 | 15,479,560 |
Granted | 0 |
Exercised | -854,520 |
Forfeited | -91,492 |
Expired/canceled | 0 |
Outstanding at March 31, 2014 | 14,533,548 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 4,341,661 |
WAEP (in dollars per share) | ' |
Outstanding at December 31, 2013 | $15.94 |
Granted | $0 |
Exercised | $12.13 |
Forfeited | $16.46 |
Expired/canceled | $0 |
Outstanding at March 31, 2014 | $16.16 |
Exercisable at March 31, 2014 | $13.25 |
Stock_Options_and_Restricted_S3
Stock Options and Restricted Stock - Number and Weighted Average Exercise Price - Restricted Stock (Details) (Restricted Stock [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Restricted Stock [Member] | ' |
Restricted Stock (in shares) | ' |
Outstanding at December 31, 2013 | 579,135 |
Granted | 2,730 |
Vested | -115,971 |
Forfeited | 0 |
Outstanding at March 31, 2014 | 465,894 |
Weighted Average Grant-Date Fair Value (in dollars per share) | ' |
Outstanding at December 31, 2013 | $22.86 |
Granted | $32.66 |
Vested | $18.74 |
Forfeited | $0 |
Outstanding at March 31, 2014 | $23.91 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Related Party Transaction [Line Items] | ' | ' | ' |
Participations payable to TWC | $74.80 | ' | $75.90 |
Weinstein [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Related party transaction, period | '5 years | ' | ' |
Recognition of participation expense | 26.1 | 17 | ' |
Participations payable to TWC | 74.8 | ' | 75.9 |
Payment Guarantee [Member] | Weinstein [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Maximum potential amount payable under guarantee | $50 | ' | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Expense (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' |
Federal income tax rate | 35.00% |
Commitments_and_Contingencies_
Commitments and Contingencies - Programming Rights (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Contractual Obligation, Fiscal Year Maturity [Abstract] | ' | ' |
Program Rights Obligations | $148.80 | ' |
Film rights payable in 2014 | 136.9 | ' |
Film rights payable in 2015 | 11.8 | ' |
Other Commitment, Due in Third Year | 0.1 | ' |
Programming license agreements payable in 2014 | 166.3 | ' |
Programming license agreements payable in 2015 | 228.5 | ' |
Programming license agreements payable in 2016 | 102.1 | ' |
Programming license agreements payable in 2017 | 96.7 | ' |
Programming license agreements payable in 2018 | 91 | ' |
Programming license agreements payable thereafter | 206.4 | ' |
Amortization of program rights | $146.30 | $135.50 |
Other_Information_Details
Other Information (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Payables and Accruals [Abstract] | ' | ' | ' |
Royalties, residuals and participations | $70 | ' | $81.40 |
Participations payable to Weinstein | 74.8 | ' | 75.9 |
Program rights payable | 141 | ' | 32.2 |
Advertising and marketing | 39.6 | ' | 41.6 |
Payroll and related costs | 16 | ' | 28.7 |
Other | 34.4 | ' | 38 |
Total accrued liabilities | 375.8 | ' | 297.8 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | 19.4 | 19.1 | ' |
Cash paid for income taxes | 2.6 | 16.5 | ' |
Distribution of corporate office building to Old LMC | 0 | 45.7 | ' |
Capital lease related to commercial lease with subsidiary of Liberty Media | 0 | 44.8 | ' |
Tax attributes related to LMC Spin-Off | $0 | $11.60 | ' |
Information_and_Operating_Segm
Information and Operating Segments - Reconciliation of Adjusted OIBDA (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reconciliation from Segment Totals to Consolidated [Abstract] | ' | ' |
Consolidated Adjusted OIBDA | $126.20 | $116.50 |
Stock compensation | -7.8 | -7.3 |
Depreciation and amortization | -4.9 | -4.4 |
Interest expense, net of amounts capitalized | -11.5 | -10.2 |
Other income (expense), net | 0.5 | -1.5 |
Income before income taxes | $102.50 | $93.10 |
Information_and_Operating_Segm1
Information and Operating Segments - Performance Measures and Other Information (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total revenue | $420 | $399.30 | ' |
Total Adjusted OIBDA | 126.2 | 116.5 | ' |
Total capitalized production and development spend | 79.5 | 53.6 | ' |
Total assets | 1,559.90 | ' | 1,450 |
Starz Networks | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total revenue | 324 | 315.8 | ' |
Total Adjusted OIBDA | 114 | 114.4 | ' |
Total capitalized production and development spend | 55.5 | 29.2 | ' |
Total assets | 1,335 | ' | 1,197.70 |
Starz Distribution | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total revenue | 87.3 | 76.2 | ' |
Total Adjusted OIBDA | 12.7 | 2.6 | ' |
Total capitalized production and development spend | 24 | 24.4 | ' |
Total assets | 188.5 | ' | 188.8 |
Starz Animation | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total revenue | 8.9 | 7.5 | ' |
Total Adjusted OIBDA | -0.6 | -0.6 | ' |
Total capitalized production and development spend | 0 | 0 | ' |
Total assets | 3.4 | ' | 2.8 |
Other unallocated | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 77.6 | ' | 99.2 |
Inter-segment eliminations | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total revenue | -0.2 | -0.2 | ' |
Total Adjusted OIBDA | 0.1 | 0.1 | ' |
Total capitalized production and development spend | 0 | 0 | ' |
Total assets | ($44.60) | ' | ($38.50) |
Supplemental_Guarantor_Condens2
Supplemental Guarantor Condensed Consolidating Financial Information - Balance Sheets (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $17.90 | $25.70 | $17.90 | $749.80 |
Restricted cash | 32.7 | 30.1 | ' | ' |
Trade accounts receivable, net | 259.9 | 247.1 | ' | ' |
Program rights, net | 369.3 | 271.8 | ' | ' |
Deferred income taxes | 0.5 | 0.5 | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Other current assets | 45.2 | 63.8 | ' | ' |
Total current assets | 725.5 | 639 | ' | ' |
Noncurrent assets: | ' | ' | ' | ' |
Program rights | 361.9 | 333.2 | ' | ' |
Investment in films and television programs, net | 187.3 | 194.6 | ' | ' |
Property and equipment, net | 92.7 | 95.7 | ' | ' |
Deferred income taxes | 20.6 | 18.5 | ' | ' |
Goodwill | 131.8 | 131.8 | ' | ' |
Other assets, net | 40.1 | 37.2 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Total assets | 1,559.90 | 1,450 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of debt | 5 | 4.9 | ' | ' |
Trade accounts payable | 7.8 | 7.3 | ' | ' |
Accrued liabilities | 375.8 | 297.8 | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' |
Due to (from) affiliates | 0 | 0 | ' | ' |
Deferred revenue | 22.1 | 16.6 | ' | ' |
Total current liabilities | 410.7 | 326.6 | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' |
Debt | 1,073.10 | 1,054.50 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Other liabilities | 12.8 | 14.2 | ' | ' |
Total liabilities | 1,496.60 | 1,395.30 | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' |
Member’s interest (deficit) | 68.6 | 61.9 | ' | ' |
Noncontrolling interests in subsidiaries | -5.3 | -7.2 | ' | ' |
Total member’s interest and noncontrolling interests | 63.3 | 54.7 | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,559.90 | 1,450 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 12.2 | 20.8 | 11.7 | 735.5 |
Restricted cash | 0 | 0 | ' | ' |
Trade accounts receivable, net | 211.3 | 208.1 | ' | ' |
Program rights, net | 370.6 | 273.3 | ' | ' |
Deferred income taxes | 0.2 | 0.2 | ' | ' |
Notes receivable from affiliates | 25.3 | 17.7 | ' | ' |
Other current assets | 29.8 | 24 | ' | ' |
Total current assets | 649.4 | 544.1 | ' | ' |
Noncurrent assets: | ' | ' | ' | ' |
Program rights | 367.7 | 338.9 | ' | ' |
Investment in films and television programs, net | 116.1 | 114.3 | ' | ' |
Property and equipment, net | 49.1 | 51.6 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Goodwill | 131.8 | 131.8 | ' | ' |
Other assets, net | 20.9 | 17 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Total assets | 1,335 | 1,197.70 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of debt | 4.5 | 4.4 | ' | ' |
Trade accounts payable | 5.5 | 6.1 | ' | ' |
Accrued liabilities | 207.7 | 113.6 | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' |
Due to (from) affiliates | -528.2 | -491.3 | ' | ' |
Deferred revenue | 0.6 | 0.6 | ' | ' |
Total current liabilities | -309.9 | -366.6 | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' |
Debt | 1,029.50 | 1,010.80 | ' | ' |
Deferred income taxes | 10 | 14.9 | ' | ' |
Other liabilities | 9.7 | 11 | ' | ' |
Total liabilities | 739.3 | 670.1 | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' |
Member’s interest (deficit) | 595.7 | 527.6 | ' | ' |
Noncontrolling interests in subsidiaries | 0 | 0 | ' | ' |
Total member’s interest and noncontrolling interests | 595.7 | 527.6 | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,335 | 1,197.70 | ' | ' |
Subsidiary Issuer | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0.4 | 0.4 | 0.4 | 0.9 |
Restricted cash | 0 | 0 | ' | ' |
Trade accounts receivable, net | 0 | 0 | ' | ' |
Program rights, net | 0 | 0 | ' | ' |
Deferred income taxes | 0.3 | 0.3 | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Other current assets | 0.9 | 23.8 | ' | ' |
Total current assets | 1.6 | 24.5 | ' | ' |
Noncurrent assets: | ' | ' | ' | ' |
Program rights | 0 | 0 | ' | ' |
Investment in films and television programs, net | 0 | 0 | ' | ' |
Property and equipment, net | 43 | 43.3 | ' | ' |
Deferred income taxes | 20.6 | 18.5 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other assets, net | 12.1 | 12.9 | ' | ' |
Investment in consolidated subsidiaries | 1,559.30 | 1,471.60 | ' | ' |
Total assets | 1,636.60 | 1,570.80 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of debt | 0.5 | 0.5 | ' | ' |
Trade accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | 15.1 | 19.2 | ' | ' |
Notes payable due to affiliate | 0 | 0 | ' | ' |
Due to (from) affiliates | 526.3 | 490.1 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Total current liabilities | 541.9 | 509.8 | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' |
Debt | 1,048 | 1,028.30 | ' | ' |
Deferred income taxes | -16.6 | -22 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total liabilities | 1,573.30 | 1,516.10 | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' |
Member’s interest (deficit) | 68.6 | 61.9 | ' | ' |
Noncontrolling interests in subsidiaries | -5.3 | -7.2 | ' | ' |
Total member’s interest and noncontrolling interests | 63.3 | 54.7 | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 1,636.60 | 1,570.80 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 5.3 | 4.5 | 5.8 | 13.4 |
Restricted cash | 32.7 | 30.1 | ' | ' |
Trade accounts receivable, net | 48.7 | 39.8 | ' | ' |
Program rights, net | 0 | 0 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Notes receivable from affiliates | 0 | 0 | ' | ' |
Other current assets | 14.5 | 16 | ' | ' |
Total current assets | 101.2 | 90.4 | ' | ' |
Noncurrent assets: | ' | ' | ' | ' |
Program rights | 0 | 0 | ' | ' |
Investment in films and television programs, net | 71.2 | 80.3 | ' | ' |
Property and equipment, net | 0.6 | 0.8 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other assets, net | 19.2 | 20.2 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Total assets | 192.2 | 191.7 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of debt | 0 | 0 | ' | ' |
Trade accounts payable | 2.3 | 1.2 | ' | ' |
Accrued liabilities | 155.4 | 176.5 | ' | ' |
Notes payable due to affiliate | 25.3 | 17.7 | ' | ' |
Due to (from) affiliates | 1.9 | 1.2 | ' | ' |
Deferred revenue | 21.5 | 16 | ' | ' |
Total current liabilities | 206.4 | 212.6 | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' |
Debt | 0 | 0 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Other liabilities | 8.4 | 8.6 | ' | ' |
Total liabilities | 214.8 | 221.2 | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' |
Member’s interest (deficit) | -22.5 | -29.4 | ' | ' |
Noncontrolling interests in subsidiaries | -0.1 | -0.1 | ' | ' |
Total member’s interest and noncontrolling interests | -22.6 | -29.5 | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | 192.2 | 191.7 | ' | ' |
Consolidation, Eliminations | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Trade accounts receivable, net | -0.1 | -0.8 | ' | ' |
Program rights, net | -1.3 | -1.5 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Notes receivable from affiliates | -25.3 | -17.7 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | -26.7 | -20 | ' | ' |
Noncurrent assets: | ' | ' | ' | ' |
Program rights | -5.8 | -5.7 | ' | ' |
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 | -12.1 | -12.9 | ' | ' |
Investment in consolidated subsidiaries | -1,559.30 | -1,471.60 | ' | ' |
Total assets | -1,603.90 | -1,510.20 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Current portion of debt | 0 | 0 | ' | ' |
Trade accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | -2.4 | -11.5 | ' | ' |
Notes payable due to affiliate | -25.3 | -17.7 | ' | ' |
Due to (from) affiliates | 0 | 0 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Total current liabilities | -27.7 | -29.2 | ' | ' |
Noncurrent liabilities: | ' | ' | ' | ' |
Debt | -1,004.40 | -984.6 | ' | ' |
Deferred income taxes | 6.6 | 7.1 | ' | ' |
Other liabilities | -5.3 | -5.4 | ' | ' |
Total liabilities | -1,030.80 | -1,012.10 | ' | ' |
Member's Equity [Abstract] | ' | ' | ' | ' |
Member’s interest (deficit) | -573.2 | -498.2 | ' | ' |
Noncontrolling interests in subsidiaries | 0.1 | 0.1 | ' | ' |
Total member’s interest and noncontrolling interests | -573.1 | -498.1 | ' | ' |
Total liabilities and member’s interest and noncontrolling interests | ($1,603.90) | ($1,510.20) | ' | ' |
Supplemental_Guarantor_Condens3
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statement of Operations (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue: | ' | ' |
Programming networks and other services | $363.30 | $349.50 |
Home video net sales | 56.7 | 49.8 |
Total revenue | 420 | 399.3 |
Costs and expenses: | ' | ' |
Programming costs (including amortization) | 156.2 | 146 |
Production and acquisition (including amortization) | 40.9 | 39.8 |
Home video cost of sales | 13 | 15.1 |
Operating | 14 | 12.7 |
Selling, general and administrative | 69.7 | 69.2 |
Stock compensation | 7.8 | 7.3 |
Depreciation and amortization | 4.9 | 4.4 |
Total costs and expenses | 306.5 | 294.5 |
Operating income | 113.5 | 104.8 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized | -11.5 | -10.2 |
Interest income (expense), related party | 0 | 0 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Other income (expense), net | 0.5 | -1.5 |
Income before income taxes | 102.5 | 93.1 |
Income tax benefit (expense) | -35.7 | -34.9 |
Income from continuing operations | ' | 58.2 |
Net income | 66.8 | 58.2 |
Foreign currency translation adjustments from operations | -0.2 | 0.1 |
Comprehensive income | 66.6 | 58.3 |
Net income attributable to noncontrolling interests | -1.9 | -0.3 |
Net income attributable to member | 64.9 | 57.9 |
Guarantor Subsidiaries | ' | ' |
Revenue: | ' | ' |
Programming networks and other services | 334.5 | 324.1 |
Home video net sales | 3.9 | 5.9 |
Total revenue | 338.4 | 330 |
Costs and expenses: | ' | ' |
Programming costs (including amortization) | 156.6 | 146.3 |
Production and acquisition (including amortization) | 5.9 | 6.4 |
Home video cost of sales | 2.7 | 3.8 |
Operating | 6.5 | 5.8 |
Selling, general and administrative | 49.7 | 52.8 |
Stock compensation | 6.8 | 6.3 |
Depreciation and amortization | 3.8 | 3.3 |
Total costs and expenses | 232 | 224.7 |
Operating income | 106.4 | 105.3 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized | -10.8 | -9.6 |
Interest income (expense), related party | 0.2 | 0.5 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Other income (expense), net | 0.4 | -1.7 |
Income before income taxes | 96.2 | 94.5 |
Income tax benefit (expense) | -33.1 | -34.4 |
Income from continuing operations | ' | 60.1 |
Net income | 63.1 | 60.1 |
Foreign currency translation adjustments from operations | 0 | 0 |
Comprehensive income | 63.1 | 60.1 |
Net income attributable to noncontrolling interests | 0 | 0 |
Net income attributable to member | 63.1 | 60.1 |
Subsidiary Issuer | ' | ' |
Revenue: | ' | ' |
Programming networks and other services | 0 | 0 |
Home video net sales | 0 | 0 |
Total revenue | 0 | 0 |
Costs and expenses: | ' | ' |
Programming costs (including amortization) | 0 | 0 |
Production and acquisition (including amortization) | 0 | 0 |
Home video cost of sales | 0 | 0 |
Operating | 0 | 0 |
Selling, general and administrative | 1.3 | 1.3 |
Stock compensation | 0.4 | 0.6 |
Depreciation and amortization | 0.3 | 0.3 |
Total costs and expenses | 2 | 2.2 |
Operating income | -2 | -2.2 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized | -11.9 | -10.9 |
Interest income (expense), related party | 0 | 0 |
Share of earnings of consolidated subsidiaries | 77.5 | 66.9 |
Other income (expense), net | 0 | 0 |
Income before income taxes | -13.9 | -13.1 |
Income tax benefit (expense) | 3.2 | 4.4 |
Income from continuing operations | ' | 58.2 |
Net income | 66.8 | 58.2 |
Foreign currency translation adjustments from operations | -0.2 | 0.1 |
Comprehensive income | 66.6 | 58.3 |
Net income attributable to noncontrolling interests | -1.9 | -0.3 |
Net income attributable to member | 64.9 | 57.9 |
Non-Guarantor Subsidiaries | ' | ' |
Revenue: | ' | ' |
Programming networks and other services | 31.1 | 27.3 |
Home video net sales | 53.6 | 45.1 |
Total revenue | 84.7 | 72.4 |
Costs and expenses: | ' | ' |
Programming costs (including amortization) | 0 | 0 |
Production and acquisition (including amortization) | 35 | 33.4 |
Home video cost of sales | 11.1 | 12.5 |
Operating | 9.6 | 8.5 |
Selling, general and administrative | 18.7 | 15.1 |
Stock compensation | 0.6 | 0.4 |
Depreciation and amortization | 0.8 | 0.8 |
Total costs and expenses | 75.8 | 70.7 |
Operating income | 8.9 | 1.7 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized | 0 | 0 |
Interest income (expense), related party | -0.2 | -0.5 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Other income (expense), net | 0.1 | -1.3 |
Income before income taxes | 8.8 | -0.1 |
Income tax benefit (expense) | -1.8 | -0.5 |
Income from continuing operations | ' | -0.6 |
Net income | 7 | -0.6 |
Foreign currency translation adjustments from operations | -0.2 | 0 |
Comprehensive income | 6.8 | -0.6 |
Net income attributable to noncontrolling interests | 0 | 0 |
Net income attributable to member | 7 | -0.6 |
Consolidation, Eliminations | ' | ' |
Revenue: | ' | ' |
Programming networks and other services | -2.3 | -1.9 |
Home video net sales | -0.8 | -1.2 |
Total revenue | -3.1 | -3.1 |
Costs and expenses: | ' | ' |
Programming costs (including amortization) | -0.4 | -0.3 |
Production and acquisition (including amortization) | 0 | 0 |
Home video cost of sales | -0.8 | -1.2 |
Operating | -2.1 | -1.6 |
Selling, general and administrative | 0 | 0 |
Stock compensation | 0 | 0 |
Depreciation and amortization | 0 | 0 |
Total costs and expenses | -3.3 | -3.1 |
Operating income | 0.2 | 0 |
Other income (expense): | ' | ' |
Interest expense, net of amounts capitalized | 11.2 | 10.3 |
Interest income (expense), related party | 0 | 0 |
Share of earnings of consolidated subsidiaries | -77.5 | -66.9 |
Other income (expense), net | 0 | 1.5 |
Income before income taxes | 11.4 | 11.8 |
Income tax benefit (expense) | -4 | -4.4 |
Income from continuing operations | ' | -59.5 |
Net income | -70.1 | -59.5 |
Foreign currency translation adjustments from operations | 0.2 | 0 |
Comprehensive income | -69.9 | -59.5 |
Net income attributable to noncontrolling interests | 0 | 0 |
Net income attributable to member | ($70.10) | ($59.50) |
Supplemental_Guarantor_Condens4
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statement of Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | $66.80 | $58.20 |
Other comprehensive loss, net of taxes: | ' | ' |
Foreign currency translation adjustments from operations | -0.2 | 0.1 |
Comprehensive income | 66.6 | 58.3 |
Comprehensive income attributable to noncontrolling interests | -1.9 | -0.3 |
Comprehensive income attributable to member | 64.7 | 58 |
Guarantor Subsidiaries | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 63.1 | 60.1 |
Other comprehensive loss, net of taxes: | ' | ' |
Foreign currency translation adjustments from operations | 0 | 0 |
Comprehensive income | 63.1 | 60.1 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to member | 63.1 | 60.1 |
Subsidiary Issuer | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 66.8 | 58.2 |
Other comprehensive loss, net of taxes: | ' | ' |
Foreign currency translation adjustments from operations | -0.2 | 0.1 |
Comprehensive income | 66.6 | 58.3 |
Comprehensive income attributable to noncontrolling interests | -1.9 | -0.3 |
Comprehensive income attributable to member | 64.7 | 58 |
Non-Guarantor Subsidiaries | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 7 | -0.6 |
Other comprehensive loss, net of taxes: | ' | ' |
Foreign currency translation adjustments from operations | -0.2 | 0 |
Comprehensive income | 6.8 | -0.6 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to member | 6.8 | -0.6 |
Consolidation, Eliminations | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | -70.1 | -59.5 |
Other comprehensive loss, net of taxes: | ' | ' |
Foreign currency translation adjustments from operations | 0.2 | 0 |
Comprehensive income | -69.9 | -59.5 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to member | ($69.90) | ($59.50) |
Supplemental_Guarantor_Condens5
Supplemental Guarantor Condensed Consolidating Financial Information - Consolidating Statements of Cash Flows (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Payments to Acquire Property, Plant, and Equipment | ($1.30) | ($0.70) |
Operating activities: | ' | ' |
Net income (loss) | 66.8 | 58.2 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 4.9 | 4.4 |
Amortization of program rights | 146.3 | 135.5 |
Program rights payments | -112.6 | -109.2 |
Amortization of investment in films and television programs | 36.2 | 27.4 |
Investment in films and television programs | -79.5 | -53.6 |
Stock compensation | 7.8 | 7.3 |
Payments of long term incentive plan | 0 | -2.4 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | -2.1 | 17.9 |
Other non-cash items | 0.9 | -2.6 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -1.5 | -18.2 |
Due to affiliate | 0 | -39.5 |
Payables and other liabilities | -25.9 | 41.5 |
Net cash provided by operating activities | 41.3 | 66.7 |
Investing activities – purchases of property and equipment | -1.3 | -0.7 |
Financing activities: | ' | ' |
Borrowings of debt | 84 | 923.5 |
Payments of debt | -65.2 | -516.1 |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 0 | 0 |
Debt issuance costs | 0 | -2.1 |
Contributions (Distributions) to Parent | ' | 0 |
Distributions to Old LMC | 0 | -1,200 |
Contributions from parent related to exercise of stock options | -0.7 | ' |
Minimum withholding of taxes related to stock compensation | -5.7 | -0.7 |
Excess tax benefit from stock compensation | 4.4 | 0.4 |
Distributions to parent related to repurchases of common stock | -66 | -2.9 |
Net cash used in financing activities | -47.8 | -797.9 |
Net increase (decrease) in cash and cash equivalents | -7.8 | -731.9 |
Beginning of period | 25.7 | 749.8 |
End of period | 17.9 | 17.9 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 19.4 | 19.1 |
Cash paid for income taxes | 2.6 | 16.5 |
Distribution of corporate office building to Old LMC | 0 | 45.7 |
Capital lease related to commercial lease with subsidiary of Liberty Media | 0 | 44.8 |
Tax attributes related to LMC Spin-Off | 0 | 11.6 |
Guarantor Subsidiaries | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Payments to Acquire Property, Plant, and Equipment | -1.3 | -0.6 |
Operating activities: | ' | ' |
Net income (loss) | 63.1 | 60.1 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 3.8 | 3.3 |
Amortization of program rights | 146.7 | 135.9 |
Program rights payments | -113.5 | -109.4 |
Amortization of investment in films and television programs | 5.8 | 5.8 |
Investment in films and television programs | -57 | -29.2 |
Stock compensation | 6.8 | 6.3 |
Payments of long term incentive plan | ' | -2.4 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | -4.9 | 17.9 |
Other non-cash items | 0.7 | 1.3 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -13.9 | -6.2 |
Due to affiliate | 8.4 | -55.6 |
Payables and other liabilities | 1.6 | 43.8 |
Net cash provided by operating activities | 47.6 | 71.6 |
Investing activities – purchases of property and equipment | 1.3 | -0.6 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | -1.1 | -1 |
Borrowings under notes payable to affiliate | -25.2 | -10.4 |
Repayments under notes payable to affiliate | 17.6 | 8.8 |
Net advances to (from) affiliate | -45.3 | -191.9 |
Debt issuance costs | ' | 0 |
Contributions (Distributions) to Parent | ' | -600 |
Distributions to Old LMC | ' | 0 |
Contributions from parent related to exercise of stock options | 0 | ' |
Minimum withholding of taxes related to stock compensation | -5.3 | -0.7 |
Excess tax benefit from stock compensation | 4.4 | 0.4 |
Distributions to parent related to repurchases of common stock | 0 | 0 |
Net cash used in financing activities | -54.9 | -794.8 |
Net increase (decrease) in cash and cash equivalents | -8.6 | -723.8 |
Beginning of period | 20.8 | 735.5 |
End of period | 12.2 | 11.7 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | -0.6 | -1.3 |
Cash paid for income taxes | 2.3 | 15.8 |
Distribution of corporate office building to Old LMC | ' | 45.7 |
Capital lease related to commercial lease with subsidiary of Liberty Media | ' | 0 |
Tax attributes related to LMC Spin-Off | ' | 0 |
Subsidiary Issuer | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Payments to Acquire Property, Plant, and Equipment | 0 | 0 |
Operating activities: | ' | ' |
Net income (loss) | 66.8 | 58.2 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 0.3 | 0.3 |
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 | 0.4 | 0.6 |
Payments of long term incentive plan | ' | 0 |
Share of earnings of consolidated subsidiaries | -77.5 | -66.9 |
Deferred income taxes | 3.3 | -0.1 |
Other non-cash items | 0.6 | 0.6 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | 23 | -0.6 |
Due to affiliate | -9.1 | 22.6 |
Payables and other liabilities | -7.7 | -10.5 |
Net cash provided by operating activities | 0.1 | 4.2 |
Investing activities – purchases of property and equipment | 0 | 0 |
Financing activities: | ' | ' |
Borrowings of debt | 84 | 923.5 |
Payments of debt | -64.1 | -515.1 |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 45.3 | 191.9 |
Debt issuance costs | ' | -2.1 |
Contributions (Distributions) to Parent | ' | 600 |
Distributions to Old LMC | ' | -1,200 |
Contributions from parent related to exercise of stock options | -0.7 | ' |
Minimum withholding of taxes related to stock compensation | 0 | 0 |
Excess tax benefit from stock compensation | 0 | 0 |
Distributions to parent related to repurchases of common stock | -66 | -2.9 |
Net cash used in financing activities | -0.1 | -4.7 |
Net increase (decrease) in cash and cash equivalents | 0 | -0.5 |
Beginning of period | 0.4 | 0.9 |
End of period | 0.4 | 0.4 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 19.8 | 19.8 |
Cash paid for income taxes | 0 | 0.9 |
Distribution of corporate office building to Old LMC | ' | 0 |
Capital lease related to commercial lease with subsidiary of Liberty Media | ' | 44.8 |
Tax attributes related to LMC Spin-Off | ' | 11.6 |
Non-Guarantor Subsidiaries | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Payments to Acquire Property, Plant, and Equipment | 0 | -0.1 |
Operating activities: | ' | ' |
Net income (loss) | 7 | -0.6 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 0.8 | 0.8 |
Amortization of program rights | 0 | 0 |
Program rights payments | 0 | 0 |
Amortization of investment in films and television programs | 30.4 | 21.6 |
Investment in films and television programs | -22.5 | -24.4 |
Stock compensation | 0.6 | 0.4 |
Payments of long term incentive plan | ' | 0 |
Share of earnings of consolidated subsidiaries | 0 | 0 |
Deferred income taxes | 0 | 0 |
Other non-cash items | 0.2 | -3.9 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -9.9 | -11.4 |
Due to affiliate | 0.7 | -6.5 |
Payables and other liabilities | -13.7 | 14.9 |
Net cash provided by operating activities | -6.4 | -9.1 |
Investing activities – purchases of property and equipment | 0 | -0.1 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Borrowings under notes payable to affiliate | 25.2 | 10.4 |
Repayments under notes payable to affiliate | -17.6 | -8.8 |
Net advances to (from) affiliate | 0 | 0 |
Debt issuance costs | ' | 0 |
Contributions (Distributions) to Parent | ' | 0 |
Distributions to Old LMC | ' | 0 |
Contributions from parent related to exercise of stock options | 0 | ' |
Minimum withholding of taxes related to stock compensation | -0.4 | 0 |
Excess tax benefit from stock compensation | 0 | 0 |
Distributions to parent related to repurchases of common stock | 0 | 0 |
Net cash used in financing activities | 7.2 | 1.6 |
Net increase (decrease) in cash and cash equivalents | 0.8 | -7.6 |
Beginning of period | 4.5 | 13.4 |
End of period | 5.3 | 5.8 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net of amounts capitalized | 0.2 | 0.6 |
Cash paid for income taxes | 0.3 | -0.2 |
Distribution of corporate office building to Old LMC | ' | 0 |
Capital lease related to commercial lease with subsidiary of Liberty Media | ' | 0 |
Tax attributes related to LMC Spin-Off | ' | 0 |
Consolidation, Eliminations | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Payments to Acquire Property, Plant, and Equipment | 0 | 0 |
Operating activities: | ' | ' |
Net income (loss) | -70.1 | -59.5 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 0 | 0 |
Amortization of program rights | -0.4 | -0.4 |
Program rights payments | 0.9 | 0.2 |
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 |
Share of earnings of consolidated subsidiaries | 77.5 | 66.9 |
Deferred income taxes | -0.5 | 0.1 |
Other non-cash items | -0.6 | -0.6 |
Changes in assets and liabilities: | ' | ' |
Current and other assets | -0.7 | 0 |
Due to affiliate | 0 | 0 |
Payables and other liabilities | -6.1 | -6.7 |
Net cash provided by operating activities | 0 | 0 |
Investing activities – purchases of property and equipment | 0 | 0 |
Financing activities: | ' | ' |
Borrowings of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Borrowings under notes payable to affiliate | 0 | 0 |
Repayments under notes payable to affiliate | 0 | 0 |
Net advances to (from) affiliate | 0 | 0 |
Debt issuance costs | ' | 0 |
Contributions (Distributions) to Parent | ' | 0 |
Distributions to Old LMC | ' | 0 |
Contributions from parent related to exercise of stock options | 0 | ' |
Minimum withholding of taxes related to stock compensation | 0 | 0 |
Excess tax benefit from stock compensation | 0 | 0 |
Distributions to parent related to repurchases of common stock | 0 | 0 |
Net cash used in financing activities | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 |
Beginning of period | 0 | 0 |
End of period | 0 | 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 to Old LMC | ' | 0 |
Capital lease related to commercial lease with subsidiary of Liberty Media | ' | 0 |
Tax attributes related to LMC Spin-Off | ' | $0 |