Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'LIONS GATE ENTERTAINMENT CORP /CN/ | ' |
Entity Central Index Key | '0000929351 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 137,919,465 |
Unaudited_Condensed_Consolidat
Unaudited Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $67,212 | $62,363 |
Restricted cash | 8,122 | 10,664 |
Accounts receivable, net of reserves for returns and allowances of $76,142 (March 31, 2013 - $103,418) and provision for doubtful accounts of $5,575 (March 31, 2013 - $4,494) | 696,584 | 787,150 |
Investment in films and television programs, net | 1,208,239 | 1,244,075 |
Property and equipment, net | 10,586 | 8,530 |
Equity method investments | 164,662 | 169,450 |
Goodwill | 323,328 | 323,328 |
Other assets | 80,485 | 72,619 |
Deferred tax assets | 92,657 | 82,690 |
Total assets | 2,651,875 | 2,760,869 |
LIABILITIES | ' | ' |
Senior revolving credit facility | 285,474 | 338,474 |
Senior secured second-priority notes | 225,000 | 432,277 |
July 2013 Term Loan | 222,574 | 0 |
Accounts payable and accrued liabilities | 217,680 | 313,620 |
Participations and residuals | 413,368 | 409,763 |
Film obligations and production loans | 444,161 | 569,019 |
Convertible senior subordinated notes | 148,498 | 87,167 |
Deferred revenue | 269,067 | 254,023 |
Total liabilities | 2,225,822 | 2,404,343 |
Commitments and contingencies | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Common shares, no par value, 500,000,000 shares authorized, 137,860,591 shares issued (March 31, 2013 - 135,882,899 shares) | 725,389 | 672,915 |
Accumulated deficit | -295,790 | -309,912 |
Accumulated other comprehensive loss | -3,546 | -6,477 |
Total shareholders' equity | 426,053 | 356,526 |
Total liabilities and shareholders' equity | $2,651,875 | $2,760,869 |
Unaudited_Condensed_Consolidat1
Unaudited Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Reserve for returns and allowances on accounts receivable | $76,142 | $103,418 |
Provision for doubtful accounts on accounts receivable | $5,575 | $4,494 |
Common stock, no par value | ' | ' |
Authorized common shares | 500,000,000 | 500,000,000 |
Common stock, shares issued | 137,860,591 | 135,882,899 |
Unaudited_Condensed_Consolidat2
Unaudited Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | $498,729 | $706,968 | $1,068,457 | $1,178,788 |
Expenses: | ' | ' | ' | ' |
Direct operating | 261,798 | 323,230 | 568,243 | 569,048 |
Distribution and marketing | 145,502 | 236,442 | 316,962 | 415,151 |
General and administration | 63,773 | 44,030 | 120,543 | 96,374 |
Depreciation and amortization | 1,611 | 2,115 | 3,236 | 4,220 |
Total expenses | 472,684 | 605,817 | 1,008,984 | 1,084,793 |
Operating income | 26,045 | 101,151 | 59,473 | 93,995 |
Interest expense | ' | ' | ' | ' |
Contractual cash based interest | 11,925 | 18,908 | 28,198 | 41,636 |
Amortization of debt discount (premium) and deferred financing costs | 4,247 | 4,377 | 8,788 | 9,139 |
Total interest expense | 16,172 | 23,285 | 36,986 | 50,775 |
Interest and other income | -1,483 | -1,029 | -2,979 | -1,979 |
Loss on extinguishment of debt | 36,187 | 1,000 | 36,653 | 9,159 |
Total other expenses, net | 50,876 | 23,256 | 70,660 | 57,955 |
Income (loss) before equity interests and income taxes | -24,831 | 77,895 | -11,187 | 36,040 |
Equity interests income | 6,502 | 1,755 | 14,479 | 1,610 |
Income (loss) before income taxes | -18,329 | 79,650 | 3,292 | 37,650 |
Income tax provision (benefit) | -18,834 | 4,121 | -10,830 | 6,321 |
Net income | $505 | $75,529 | $14,122 | $31,329 |
Basic net income per common share | $0 | $0.56 | $0.10 | $0.23 |
Diluted net income per common share | $0 | $0.53 | $0.10 | $0.23 |
Weighted average number of common shares outstanding: | ' | ' | ' | ' |
Basic | 137,147 | 134,390 | 136,671 | 133,815 |
Diluted | 140,681 | 148,696 | 139,870 | 134,610 |
Unaudited_Condensed_Consolidat3
Unaudited Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $505 | $75,529 | $14,122 | $31,329 |
Foreign currency translation adjustments | 3,038 | 2,999 | 3,587 | 1,078 |
Net unrealized loss on foreign exchange contracts | -320 | -512 | -656 | -17 |
Comprehensive income | $3,223 | $78,016 | $17,053 | $32,390 |
Unaudited_Condensed_Consolidat4
Unaudited Condensed Consolidated Statement of Shareholders' Equity (USD $) | Total | Common Shares [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data | ||||
Beginning balance at Mar. 31, 2013 | $356,526 | $672,915 | ($309,912) | ($6,477) |
Beginning balance, shares at Mar. 31, 2013 | ' | 135,882,899 | ' | ' |
Exercise of stock options | 10,638 | 10,638 | ' | ' |
Exercise of stock options, shares | ' | 1,125,491 | ' | ' |
Share-based compensation, net of withholding tax obligations of $11,257 | 38,430 | 38,430 | ' | ' |
Share-based compensation, net of withholding tax obligations of $11,257, shares | ' | 524,065 | ' | ' |
Conversion of January 2012 4.00% Notes | 3,196 | 3,196 | ' | ' |
Conversion of January 2012 4.00% Notes, shares | ' | 320,258 | ' | ' |
Issuance of common shares to directors for services | 210 | 210 | ' | ' |
Issuance of common shares to directors for services, shares | ' | 7,878 | ' | ' |
Net income | 14,122 | ' | 14,122 | ' |
Foreign currency translation adjustments | 3,587 | ' | ' | 3,587 |
Net unrealized loss on foreign exchange contracts | -656 | ' | ' | -656 |
Ending balance at Sep. 30, 2013 | $426,053 | $725,389 | ($295,790) | ($3,546) |
Ending balance, shares at Sep. 30, 2013 | ' | 137,860,591 | ' | ' |
Unaudited_Condensed_Consolidat5
Unaudited Condensed Consolidated Statement of Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Withholding tax obligations for stock based compensation | $11,257 |
Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | ' |
Coupon rate | 2.94% |
Convertible Senior Subordinated Notes [Member] | January 2012 Notes [Member] | ' |
Coupon rate | 4.00% |
Unaudited_Condensed_Consolidat6
Unaudited Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net income | $14,122 | $31,329 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation of property and equipment | 1,371 | 1,525 |
Amortization of intangible assets | 1,865 | 2,695 |
Amortization of films and television programs | 376,500 | 394,664 |
Amortization of debt discount (premium) and deferred financing costs | 8,788 | 9,139 |
Non-cash share-based compensation | 28,182 | 10,917 |
Dividend payment from equity method investee | 9,849 | 0 |
Loss on extinguishment of debt | 36,653 | 9,159 |
Equity interests income | -14,479 | -1,610 |
Deferred income taxes | -9,981 | 0 |
Changes in operating assets and liabilities: | ' | ' |
Restricted cash | 2,554 | 5,302 |
Accounts receivable, net | 95,280 | 84,026 |
Investment in films and television programs | -338,296 | -423,120 |
Other assets | -9,197 | -1,544 |
Accounts payable and accrued liabilities | -77,493 | 2,149 |
Participations and residuals | 3,358 | -1,015 |
Film obligations | -33,402 | -13,820 |
Deferred revenue | 14,897 | 32,339 |
Net Cash Flows Provided By Operating Activities | 110,571 | 142,135 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 9,000 | 0 |
Investment in equity method investees | -3,750 | 0 |
Dividends from equity method investee in excess of earnings | 4,169 | 0 |
Repayment of loans receivable | 3,000 | 4,274 |
Purchases of property and equipment | -3,395 | -976 |
Net Cash Flows Provided By Investing Activities | 9,024 | 3,298 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs of $15,198 in 2012 | 428,100 | 666,226 |
Senior revolving credit facility - repayments | -481,100 | -512,450 |
Senior secured second-priority notes - borrowings, net of deferred financing costs of $407 in 2013 | 224,593 | 0 |
Senior secured second-priority notes - repurchases and redemptions | -470,584 | 0 |
July 2013 Term Loan - borrowings, net of deferred financing costs of $4,287 in 2013 | 218,213 | 0 |
Summit Term Loan - repayments | 0 | -185,504 |
Convertible senior subordinated notes - borrowings | 60,000 | 0 |
Convertible senior subordinated notes - repurchases | 0 | -7,639 |
Production loans - borrowings | 169,427 | 112,845 |
Production loans - repayments | -196,098 | -221,985 |
Pennsylvania Regional Center credit facility - repayments | -65,000 | 0 |
Exercise of stock options | 9,120 | 52 |
Tax withholding required on equity awards | -11,257 | -4,005 |
Other financing obligations - repayments | 0 | -3,710 |
Net Cash Flows Used In Financing Activities | -114,586 | -156,170 |
Net Change In Cash And Cash Equivalents | 5,009 | -10,737 |
Foreign Exchange Effects on Cash | -160 | 838 |
Cash and Cash Equivalents - Beginning Of Period | 62,363 | 64,298 |
Cash and Cash Equivalents - End Of Period | $67,212 | $54,399 |
Unaudited_Condensed_Consolidat7
Unaudited Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Senior Revolving Credit Facility [Member] | ' | ' |
Deferred financing costs | $0 | $15,198 |
5.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' |
Deferred financing costs | 407 | 0 |
July 2013 Term Loan [Member] | Term Loan [Member] | ' | ' |
Deferred financing costs | $4,287 | $0 |
General
General | 6 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
General | ' |
General | |
Nature of Operations | |
Lions Gate Entertainment Corp. (the “Company,” “Lionsgate,” “we,” “us” or “our”) is a leading global entertainment company with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales. | |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate and all of its majority-owned and controlled subsidiaries. | |
The unaudited condensed consolidated financial statements have been prepared in accordance with United States (the “U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to quarterly report on Form 10-Q under the Exchange Act, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and six months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2014. The balance sheet at March 31, 2013 has been derived from the audited financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2013. | |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs for investment in films and television programs; estimates of sales returns and other allowances and provisions for doubtful accounts; fair value of assets and liabilities for allocation of the purchase price of companies acquired; income taxes and accruals for contingent liabilities; and impairment assessments for investment in films and television programs, property and equipment, equity investments, goodwill and intangible assets. Actual results could differ from such estimates. | |
Recent Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board ("FASB") issued an accounting standards update that requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amounts are required to be reclassified in their entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference to other required disclosures that provide additional detail about those amounts. This guidance was effective for the Company's fiscal year beginning April 1, 2013. During the three and six months ended September 30, 2013, the Company did not have any significant amounts reclassified out of accumulated other comprehensive income. | |
In July 2013, the FASB issued an accounting standard update relating to the presentation of unrecognized tax benefits. The accounting update requires companies to present a deferred tax asset net of related unrecognized tax benefits if there is a net operating loss or other tax carryforwards that would apply in settlement of the uncertain tax position. To the extent that an uncertain tax position would not be settled through a reduction of a net operating loss or other tax carryforwards, the unrecognized tax benefit will be presented as a liability. The guidance is effective for the Company's fiscal year beginning April 1, 2014, with early adoption permitted. The Company plans to adopt the new guidance effective April 1, 2014 and does not expect that the new guidance will have a material impact on its consolidated financial statements. |
Investment_In_Films_And_Televi
Investment In Films And Television Programs | 6 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Investment In Films And Television Programs [Abstract] | ' | ||||||||||||||
Investment In Films And Television Programs | ' | ||||||||||||||
Investment in Films and Television Programs | |||||||||||||||
September 30, | March 31, | ||||||||||||||
2013 | 2013 | ||||||||||||||
(Amounts in thousands) | |||||||||||||||
Motion Picture Segment - Theatrical and Non-Theatrical Films | |||||||||||||||
Released, net of accumulated amortization | $ | 477,118 | $ | 501,893 | |||||||||||
Acquired libraries, net of accumulated amortization | 18,588 | 22,408 | |||||||||||||
Completed and not released | 64,818 | 50,519 | |||||||||||||
In progress | 325,240 | 366,587 | |||||||||||||
In development | 29,206 | 25,094 | |||||||||||||
Product inventory | 43,592 | 36,299 | |||||||||||||
958,562 | 1,002,800 | ||||||||||||||
Television Segment - Direct-to-Television Programs | |||||||||||||||
Released, net of accumulated amortization | 168,749 | 136,727 | |||||||||||||
In progress | 78,047 | 100,585 | |||||||||||||
In development | 2,881 | 3,963 | |||||||||||||
249,677 | 241,275 | ||||||||||||||
$ | 1,208,239 | $ | 1,244,075 | ||||||||||||
The following table sets forth acquired libraries that represent titles released three years prior to the date of acquisition. These libraries are being amortized over their expected revenue stream from the acquisition date over a period up to 20 years: | |||||||||||||||
Total | Remaining | Unamortized Costs | |||||||||||||
Amortization | Amortization | ||||||||||||||
Acquired Library | Acquisition Date | Period | Period | September 30, 2013 | March 31, | ||||||||||
2013 | |||||||||||||||
(In years) | (Amounts in thousands) | ||||||||||||||
Trimark Holdings | October 2000 | 20 | 0 | $ | — | $ | 345 | ||||||||
Artisan Entertainment | December 2003 | 20 | 10.25 | 13,268 | 15,686 | ||||||||||
Lionsgate UK | Oct-05 | 20 | 12 | 150 | 233 | ||||||||||
Summit Entertainment | Jan-12 | 20 | 18.25 | 5,170 | 6,144 | ||||||||||
Total acquired libraries | $ | 18,588 | $ | 22,408 | |||||||||||
The Company expects approximately 45% of completed films and television programs, net of accumulated amortization, will be amortized during the one-year period ending September 30, 2014. Additionally, the Company expects approximately 81% of completed and released films and television programs, net of accumulated amortization and excluding acquired libraries, will be amortized during the three-year period ending September 30, 2016. |
Equity_Method_Investments
Equity Method Investments | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] | ' | |||||||||||||||
Equity Method Investments | ' | |||||||||||||||
Equity Method Investments | ||||||||||||||||
The carrying amount of significant equity method investments at September 30, 2013 and March 31, 2013 were as follows: | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | ||||||||||||||||
Equity Method Investee | Ownership | September 30, | March 31, | |||||||||||||
Percentage | 2013 | 2013 | ||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Horror Entertainment, LLC (“FEARnet”) | 34.50% | $ | 3,672 | $ | 3,343 | |||||||||||
NextPoint, Inc. (“Break Media”) | 42.00% | 1,757 | 4,630 | |||||||||||||
Roadside Attractions, LLC (“Roadside Attractions”) | 43.00% | 3,466 | 3,372 | |||||||||||||
Studio 3 Partners, LLC (“EPIX”) | 31.20% | 68,302 | 66,697 | |||||||||||||
TV Guide Network ("TVGN") | 50.00% | 87,465 | 91,408 | |||||||||||||
$ | 164,662 | $ | 169,450 | |||||||||||||
Equity interests in equity method investments in the consolidated statements of operations represent the Company's portion of the income or loss of its equity method investees based on its percentage ownership and the elimination of profits on sales to equity method investees. Equity interests in equity method investments for the three and six months ended September 30, 2013, and 2012 were as follows (income (loss)): | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
Equity Method Investee | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
FEARnet | $ | 187 | $ | 2 | $ | 329 | $ | 54 | ||||||||
Break Media | (1,918 | ) | (828 | ) | (3,623 | ) | (2,483 | ) | ||||||||
Roadside Attractions | 159 | 203 | 94 | 87 | ||||||||||||
EPIX | 8,881 | 5,525 | 15,622 | 12,112 | ||||||||||||
TVGN | (807 | ) | (3,147 | ) | 2,057 | (8,160 | ) | |||||||||
$ | 6,502 | $ | 1,755 | $ | 14,479 | $ | 1,610 | |||||||||
Horror Entertainment, LLC. Horror Entertainment, LLC (“FEARnet”), is a multiplatform programming and content service provider of horror genre films operating under the branding of “FEARnet.” The Company licenses content to FEARnet for video-on-demand and broadband exhibition. The Company is recording its share of the FEARnet results on a one quarter lag and, accordingly, during the three and six months ended September 30, 2013, the Company recorded its share of the income generated by FEARnet for the three and six months ended June 30, 2013. | ||||||||||||||||
NextPoint, Inc. NextPoint, Inc. (“Break Media”), is an online home entertainment service provider operating under the branding of “Break Media.” The Company is recording its share of the Break Media results on a one quarter lag and, accordingly, during the three and six months ended September 30, 2013, the Company recorded its share of losses incurred by Break Media for the three and six months ended June 30, 2013. During the three and six months ended September 30, 2013, the Company contributed nil and $0.8 million, respectively, to Break Media. | ||||||||||||||||
Roadside Attractions, LLC. Roadside Attractions, LLC (“Roadside Attractions”), is an independent theatrical releasing company. The Company is recording its share of the Roadside Attractions results on a one quarter lag and, accordingly, during the three and six months ended September 30, 2013, the Company recorded its share of the income generated by Roadside Attractions for the three and six months ended June 30, 2013. | ||||||||||||||||
Studio 3 Partners, LLC (“EPIX”). In April 2008, the Company formed a joint venture with Viacom Inc. (“Viacom”), its Paramount Pictures unit (“Paramount Pictures”) and Metro-Goldwyn-Mayer Studios Inc. (“MGM”) to create a premium television channel and subscription video-on-demand service named “EPIX”. The Company had invested $80.4 million through September 30, 2010, and no additional amounts have been funded since. | ||||||||||||||||
Transactions with EPIX: | ||||||||||||||||
The Company licenses certain of its theatrical releases and other films and television programs to EPIX. A portion of the profits of these licenses reflecting the Company’s ownership share in the venture are eliminated through an adjustment to the equity interest income of the venture. These profits are recognized as they are realized by EPIX through the amortization of the related asset, recorded on EPIX's balance sheet, over the license period. The table below sets forth the revenues and gross profits recognized by the Company and the calculation of the amounts eliminated in the equity interest line item on the statement of operations: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenue recognized on sales to EPIX | $ | 8,329 | $ | 6,256 | $ | 23,133 | $ | 22,772 | ||||||||
Gross profit on sales to EPIX | $ | 6,738 | $ | 2,185 | $ | 18,042 | $ | 9,170 | ||||||||
Ownership interest in EPIX | 31.15 | % | 31.15 | % | 31.15 | % | 31.15 | % | ||||||||
Elimination of the Company's share of profits on sales to EPIX | $ | 2,099 | $ | 681 | $ | 5,620 | $ | 2,856 | ||||||||
The Company received a dividend of $14.0 million from EPIX during the three months ended June 30, 2013. The dividend was recorded as a reduction of the Company's investment in EPIX. Dividends from equity method investments up to the Company's interest in the investee's retained earnings are considered returns on investments and are classified within cash flows from operating activities in the statement of cash flows. Dividends from equity method investments in excess of the Company's interest in the investee's retained earnings are considered returns of investments and are classified within cash flows provided by investing activities in the statement of cash flows. | ||||||||||||||||
EPIX Financial Information: | ||||||||||||||||
The following table presents summarized balance sheet data as of September 30, 2013 and March 31, 2013 for EPIX: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Current assets | $ | 169,637 | $ | 213,508 | ||||||||||||
Non-current assets | $ | 234,151 | $ | 208,620 | ||||||||||||
Current liabilities | $ | 131,530 | $ | 144,897 | ||||||||||||
Non-current liabilities | $ | 6,759 | $ | 6,574 | ||||||||||||
The following table presents the summarized statement of operations for the three and six months ended September 30, 2013 and 2012 for EPIX and a reconciliation of the net income reported by EPIX to equity interest income recorded by the Company: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenues | $ | 87,033 | $ | 82,842 | $ | 172,230 | $ | 170,606 | ||||||||
Expenses: | ||||||||||||||||
Operating expenses | 59,144 | 62,959 | 121,286 | 123,692 | ||||||||||||
Selling, general and administrative expenses | 5,633 | 6,498 | 11,263 | 12,241 | ||||||||||||
Operating income | 22,256 | 13,385 | 39,681 | 34,673 | ||||||||||||
Interest and other income (expense) | (268 | ) | — | 162 | — | |||||||||||
Net income | $ | 21,988 | $ | 13,385 | $ | 39,843 | $ | 34,673 | ||||||||
Reconciliation of net income reported by EPIX to equity interest income: | ||||||||||||||||
Net income reported by EPIX | $ | 21,988 | $ | 13,385 | $ | 39,843 | $ | 34,673 | ||||||||
Ownership interest in EPIX | 31.15 | % | 31.15 | % | 31.15 | % | 31.15 | % | ||||||||
The Company's share of net income | 6,849 | 4,169 | 12,411 | 10,801 | ||||||||||||
Eliminations of the Company’s share of profits on sales to EPIX (1) | (2,099 | ) | (681 | ) | (5,620 | ) | (2,856 | ) | ||||||||
Realization of the Company’s share of profits on sales to EPIX (2) | 4,131 | 2,037 | 8,831 | 4,167 | ||||||||||||
Total equity interest income recorded | $ | 8,881 | $ | 5,525 | $ | 15,622 | $ | 12,112 | ||||||||
__________________ | ||||||||||||||||
-1 | Represents the elimination of the gross profit recognized by the Company on sales to EPIX in proportion to the Company's ownership interest in EPIX. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of EPIX. The table above in the Transactions with EPIX section shows the calculation of the profit eliminated. | |||||||||||||||
-2 | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by EPIX. EPIX initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on EPIX's books is amortized. The profit amount realized is calculated by multiplying the percentage of the EPIX inventory amortized in the period reported by EPIX, by the amount of profit initially eliminated, on a title by title basis. | |||||||||||||||
TV Guide Network. The Company’s investment interest in TV Guide Network, TV Guide Network On Demand and TV Guide Online (through May 31, 2013, as discussed below) (collectively "TVGN") consists of an equity investment in its common stock units and mandatorily redeemable preferred stock units. On March 26, 2013, the Company's former partner in the TVGN investment sold its 49% interest to CBS Corporation. Concurrent with this transaction, the Company sold 1% of its interest to CBS Corporation for nominal consideration resulting in the write-off of its carrying value of approximately $1.9 million. During the three and six months ended September 30, 2013, the Company contributed nil and $3.0 million, respectively, to TVGN. | ||||||||||||||||
The Company has determined that it is not the primary beneficiary of TVGN because pursuant to the amended and restated operating agreement of the entity, the power to direct the activities that most significantly impact the economic performance of TVGN is shared with the other 50% owner of TVGN. Accordingly, the Company's interest in TVGN is being accounted for under the equity method of accounting. | ||||||||||||||||
On May 31, 2013, the Company sold its 50% interest in TVGuide.com, a wholly-owned subsidiary of TVGN, to a subsidiary of CBS Corporation. As a result of this transaction, the Company has recorded a gain in the six months ended September 30, 2013 of $4.0 million, as reflected in the reconciliation of net loss reported by TVGN to equity interest loss recorded by the Company shown in the table below in the TVGN Financial Information section. Also as a result of this transaction, TVGN's summarized financial information for periods prior to the date of the transaction of May 31, 2013 has been revised to reflect the operating results of TVGuide.com as a discontinued operation. Accordingly, all revenues and expenses from TVGuide.com in all periods presented, are reflected net within the discontinued operations section of the summarized statement of operations shown below in the TVGN Financial Information section. | ||||||||||||||||
Investment in Mandatorily Redeemable Preferred Stock Units. The mandatorily redeemable preferred stock carries a dividend rate of 10% compounded annually and is mandatorily redeemable in May 2019 at the stated value plus the dividend return and any additional capital contributions less previous distributions. The mandatorily redeemable preferred stock units were initially recorded based on their estimated fair value, as determined using an option pricing model. The mandatorily redeemable preferred stock units and the 10% dividend are being accreted up to their redemption amount over the ten-year period to the redemption date, which is recorded as income within equity interest. | ||||||||||||||||
Transactions with TVGN: | ||||||||||||||||
The Company licenses certain films and/or television programs to TVGN. A portion of the profits of these licenses reflecting the Company’s ownership share in the venture are eliminated through an adjustment to the equity interest income (loss) of the venture. These profits are recognized as they are realized by TVGN through the amortization of the related asset, recorded on TVGN's balance sheet, over the license period. The table below sets forth the revenues and gross profits recognized by Lionsgate and the calculation of the amounts eliminated in the equity interest line item on the statement of operations for the six months ended September 30, 2012. There were no revenues or gross profits recognized by Lionsgate for the three and six months ended September 30, 2013 or for the three months ended September 30, 2012. | ||||||||||||||||
Six Months Ended | ||||||||||||||||
September 30, | ||||||||||||||||
2012 | ||||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenue recognized on sales to TVGN | $ | 2,925 | ||||||||||||||
Gross profit on sales to TVGN | $ | 735 | ||||||||||||||
Ownership interest in TVGN | 51 | % | ||||||||||||||
Elimination of the Company's share of profit on sales to TVGN (1) | $ | 375 | ||||||||||||||
___________________ | ||||||||||||||||
-1 | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. The elimination of the Company's share of profit on sales to TVGN for the six months ended September 30, 2012 was calculated using 51%. | |||||||||||||||
TVGN Financial Information: | ||||||||||||||||
The following table presents summarized balance sheet data as of September 30, 2013 and March 31, 2013 for TVGN: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Current assets | $ | 29,212 | $ | 29,172 | ||||||||||||
Non-current assets | $ | 199,204 | $ | 211,922 | ||||||||||||
Current liabilities | $ | 30,715 | $ | 30,267 | ||||||||||||
Non-current liabilities | $ | 19,688 | $ | 24,818 | ||||||||||||
Redeemable preferred stock | $ | 292,513 | $ | 267,362 | ||||||||||||
The following table presents the summarized statement of operations for the three and six months ended September 30, 2013 and 2012 for TVGN and a reconciliation of the net loss reported by TVGN to equity interest income (loss) recorded by the Company: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenues | $ | 18,173 | $ | 16,490 | $ | 34,965 | $ | 35,105 | ||||||||
Expenses: | ||||||||||||||||
Cost of services | 6,757 | 10,399 | 14,003 | 23,318 | ||||||||||||
Selling, marketing, and general and administration | 10,749 | 8,734 | 20,477 | 20,412 | ||||||||||||
Depreciation and amortization | 1,986 | 2,093 | 3,994 | 4,276 | ||||||||||||
Operating loss | (1,319 | ) | (4,736 | ) | (3,509 | ) | (12,901 | ) | ||||||||
Other income | (14 | ) | — | (1,390 | ) | — | ||||||||||
Interest expense, net | 335 | 431 | 682 | 873 | ||||||||||||
Accretion of redeemable preferred stock units (1) | 9,843 | 8,368 | 19,151 | 16,452 | ||||||||||||
Total interest expense, net | 10,164 | 8,799 | 18,443 | 17,325 | ||||||||||||
Loss from continuing operations | $ | (11,483 | ) | $ | (13,535 | ) | $ | (21,952 | ) | $ | (30,226 | ) | ||||
Loss from discontinued operations (5) | — | (1,290 | ) | (1,114 | ) | (2,684 | ) | |||||||||
Net loss | $ | (11,483 | ) | $ | (14,825 | ) | $ | (23,066 | ) | $ | (32,910 | ) | ||||
Reconciliation of net loss reported by TVGN to equity interest income (loss): | ||||||||||||||||
Net loss reported by TVGN | $ | (11,483 | ) | $ | (14,825 | ) | $ | (23,066 | ) | $ | (32,910 | ) | ||||
Ownership interest in TVGN (2) | 50 | % | 51 | % | 50 | % | 51 | % | ||||||||
The Company's share of net loss | (5,742 | ) | (7,561 | ) | (11,533 | ) | (16,784 | ) | ||||||||
Accretion of dividend and interest income on redeemable preferred stock units (1) | 4,923 | 4,268 | 9,576 | 8,390 | ||||||||||||
Eliminations of the Company’s share of profit on sales to TVGN (3) | — | — | — | (375 | ) | |||||||||||
Realization of the Company’s share of profits on sales to TVGN (4) | 12 | 146 | 54 | 609 | ||||||||||||
Gain on sale of the Company's 50% share of TVGuide.com (5) | — | — | 3,960 | — | ||||||||||||
Total equity interest income (loss) recorded | $ | (807 | ) | $ | (3,147 | ) | $ | 2,057 | $ | (8,160 | ) | |||||
___________________ | ||||||||||||||||
-1 | Accretion of mandatorily redeemable preferred stock units represents TVGN’s 10% dividend and the amortization of discount on its mandatorily redeemable preferred stock units held by the Company and the other interest holder. The Company recorded 51% of this expense as income from the accretion of dividend and discount on mandatorily redeemable preferred stock units through March 26, 2013 and 50% thereafter within equity interest income (loss). | |||||||||||||||
-2 | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. | |||||||||||||||
-3 | Represents the elimination of the gross profit recognized by the Company on sales to TVGN in proportion to the Company's ownership interest in TVGN. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of TVGN. The table above in the Transactions with TVGN section shows the calculation of the profit eliminated. | |||||||||||||||
-4 | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by TVGN. TVGN initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on TVGN's books is amortized. The profit amount realized is calculated by multiplying the percentage of the TVGN inventory amortized in the period reported by TVGN by the amount of profit initially eliminated, on a title by title basis. | |||||||||||||||
-5 | On May 31, 2013, as discussed above, the Company sold its 50% interest in TVGuide.com, a wholly-owned subsidiary of TVGN. As a result of this transaction, the Company recorded a gain in the six months ended September 30, 2013 of $4.0 million as reflected in the table above, and presented the revenues and expenses of TVGuide.com prior to the transaction for all periods presented, net within the discontinued operations line item. |
Other_Assets
Other Assets | 6 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Other Assets, Unclassified [Abstract] | ' | |||||||||||||||||||||||||||
Other Assets | ' | |||||||||||||||||||||||||||
Other Assets | ||||||||||||||||||||||||||||
The composition of the Company’s other assets is as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
September 30, | March 31, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Deferred financing costs, net of accumulated amortization | $ | 38,287 | $ | 33,060 | ||||||||||||||||||||||||
Loans receivable | 21,398 | 22,916 | ||||||||||||||||||||||||||
Prepaid expenses and other | 15,937 | 9,916 | ||||||||||||||||||||||||||
Finite-lived intangible assets | 4,863 | 6,727 | ||||||||||||||||||||||||||
$ | 80,485 | $ | 72,619 | |||||||||||||||||||||||||
Deferred Financing Costs. Deferred financing costs primarily include costs incurred in connection with the Company's various debt issuances (see Note 5). | ||||||||||||||||||||||||||||
Loans Receivable. The following table sets forth the Company’s loans receivable at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
Interest Rate | September 30, | March 31, | ||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Third-party producer | 3.00% | $ | 1,691 | $ | 4,658 | |||||||||||||||||||||||
Break Media | 5.25% - 20.0% | 19,707 | 18,258 | |||||||||||||||||||||||||
$ | 21,398 | $ | 22,916 | |||||||||||||||||||||||||
Prepaid Expenses and Other. Prepaid expenses and other primarily include prepaid expenses and security deposits. | ||||||||||||||||||||||||||||
Finite-lived Intangible Assets. Finite-lived intangibles consist primarily of sales agency relationships and trademarks. The composition of the Company's finite-lived intangible assets and the associated accumulated amortization is as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||
Weighted Average Remaining Life | Range of Remaining Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||||
(in years) | (Amounts in thousands) | |||||||||||||||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||||||||||||||
Trademarks | 4 | 4 | $ | 8,200 | $ | 5,237 | $ | 2,963 | $ | 8,200 | $ | 4,073 | $ | 4,127 | ||||||||||||||
Sales agency relationships | 4 | 4 | 6,200 | 4,300 | 1,900 | 6,200 | 3,600 | 2,600 | ||||||||||||||||||||
$ | 14,400 | $ | 9,537 | $ | 4,863 | $ | 14,400 | $ | 7,673 | $ | 6,727 | |||||||||||||||||
The aggregate amount of amortization expense associated with the Company's intangible assets for the three and six months ended September 30, 2013 was approximately $0.9 million and $1.9 million, respectively (2012 - $1.3 million and $2.7 million, respectively). The estimated remaining aggregate amortization expense for each of the years ending March 31, 2014 through 2018 is approximately $1.9 million, $1.8 million, $0.8 million, $0.4 million, and nil, respectively. |
Corporate_Debt
Corporate Debt | 6 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | ' | |||||||||||||||||||||||||||||
Corporate Debt | ' | |||||||||||||||||||||||||||||
Corporate Debt | ||||||||||||||||||||||||||||||
The total carrying values of corporate debt of the Company, excluding film obligations and production loans, were as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior revolving credit facility | $ | 285,474 | $ | 338,474 | ||||||||||||||||||||||||||
Senior secured second-priority notes | ||||||||||||||||||||||||||||||
5.25% Senior Notes | 225,000 | — | ||||||||||||||||||||||||||||
10.25% Senior Notes | — | 432,277 | ||||||||||||||||||||||||||||
July 2013 Term Loan | 222,574 | — | ||||||||||||||||||||||||||||
Convertible senior subordinated notes | 148,498 | 87,167 | ||||||||||||||||||||||||||||
$ | 881,546 | $ | 857,918 | |||||||||||||||||||||||||||
The following table sets forth future annual contractual principal payment commitments of corporate debt as of September 30, 2013: | ||||||||||||||||||||||||||||||
Maturity Date or | Year Ended March 31, | |||||||||||||||||||||||||||||
Debt Type | Next Holder Redemption Date (1) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior revolving credit facility | Sep-17 | $ | — | $ | — | $ | — | $ | — | $ | 285,474 | $ | — | $ | 285,474 | |||||||||||||||
5.25% Senior Notes | Aug-18 | — | — | — | — | — | 225,000 | 225,000 | ||||||||||||||||||||||
July 2013 Term Loan | Jul-20 | — | — | — | — | — | 225,000 | 225,000 | ||||||||||||||||||||||
Principal amounts of convertible senior subordinated notes: | ||||||||||||||||||||||||||||||
October 2004 2.9375% Notes (conversion price of $11.50 per share) | October 2014 | — | 115 | — | — | — | — | 115 | ||||||||||||||||||||||
April 2009 3.625% Notes (conversion price of $8.25 per share) | Mar-15 | — | 64,501 | — | — | — | — | 64,501 | ||||||||||||||||||||||
January 2012 4.00% Notes (conversion price of $10.50 per share) | Jan-17 | — | — | — | 41,850 | — | — | 41,850 | ||||||||||||||||||||||
April 2013 1.25% Notes (conversion price of $30.00 per share) | Apr-18 | — | — | — | — | — | 60,000 | 60,000 | ||||||||||||||||||||||
$ | — | $ | 64,616 | $ | — | $ | 41,850 | $ | 285,474 | $ | 510,000 | 901,940 | ||||||||||||||||||
Less aggregate unamortized (discount) premium, net | (20,394 | ) | ||||||||||||||||||||||||||||
$ | 881,546 | |||||||||||||||||||||||||||||
-1 | The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below. | |||||||||||||||||||||||||||||
Senior Revolving Credit Facility | ||||||||||||||||||||||||||||||
Outstanding Amount. At September 30, 2013, the Company had borrowings of $285.5 million outstanding (March 31, 2013 — $338.5 million). | ||||||||||||||||||||||||||||||
Availability of Funds. At September 30, 2013, there was $514.5 million available (March 31, 2013 — $303.0 million). On September 27, 2012, the Company amended and restated its senior revolving credit facility to provide for borrowings and letters of credit up to an aggregate of $800 million (previously $340 million). Prior to July 19, 2013, due to restrictions in the indenture governing the Company's 10.25% Senior Secured Second-Priority Notes (the "10.25% Senior Notes"), as amended on October 15, 2012, the maximum borrowing allowed under the senior revolving credit facility was $650 million, unless certain financial ratios were met. With the redemption of the 10.25% Senior Notes (discussed below), the Company is able to access the full amount of $800 million on its senior revolving credit facility, beginning July 19, 2013. The availability of funds is limited by a borrowing base and also reduced by outstanding letters of credit which amounted to less than $0.1 million at September 30, 2013 (March 31, 2013 — $8.5 million). | ||||||||||||||||||||||||||||||
Maturity Date. The senior revolving credit facility expires September 27, 2017. | ||||||||||||||||||||||||||||||
Interest. Interest is payable at an alternative base rate, as defined, plus 1.5%, or LIBOR plus 2.5% as designated by the Company. As of September 30, 2013, the senior revolving credit facility bore interest of 2.5% over the LIBOR rate (effective interest rate of 2.68% and 2.70% on borrowings outstanding as of September 30, 2013 and March 31, 2013, respectively). | ||||||||||||||||||||||||||||||
Commitment Fee. The Company is required to pay a quarterly commitment fee of 0.375% to 0.5% per annum, depending on the average balance of borrowings outstanding during the quarter, on the total senior revolving credit facility of $800 million less the amount drawn. | ||||||||||||||||||||||||||||||
Security. Obligations under the senior revolving credit facility are secured by collateral (as defined in the credit agreement) granted by the Company and certain subsidiaries of the Company, as well as a pledge of equity interests in certain of the Company’s subsidiaries. | ||||||||||||||||||||||||||||||
Covenants. The senior revolving credit facility contains a number of affirmative and negative covenants that, among other things, require the Company to satisfy certain financial covenants and restrict the ability of the Company to incur additional debt, pay dividends and make distributions, make certain investments and acquisitions, repurchase its stock and prepay certain indebtedness, create liens, enter into agreements with affiliates, modify the nature of its business, enter into sale-leaseback transactions, transfer and sell material assets and merge or consolidate. As of September 30, 2013, the Company was in compliance with all applicable covenants. | ||||||||||||||||||||||||||||||
Change in Control. Under the senior revolving credit facility, the Company may also be subject to an event of default upon a change in control (as defined in the credit agreement) which, among other things, includes a person or group acquiring ownership or control in excess of 50% of the Company’s common shares. | ||||||||||||||||||||||||||||||
Senior Secured Second-Priority Notes | ||||||||||||||||||||||||||||||
Outstanding Amount. The following table sets forth the senior secured second-priority notes outstanding at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
30-Sep-13 | 31-Mar-13 | |||||||||||||||||||||||||||||
Principal | Unamortized | Net Carrying | Principal | Unamortized | Net Carrying | |||||||||||||||||||||||||
Aggregate Premium/ (Discount), Net | Amount | Aggregate Premium/ (Discount), Net | Amount | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior Secured Second-Priority Notes | ||||||||||||||||||||||||||||||
5.25% Senior Notes | $ | 225,000 | $ | — | $ | 225,000 | $ | — | $ | — | $ | — | ||||||||||||||||||
10.25% Senior Notes (1) | — | — | — | 436,000 | (3,723 | ) | 432,277 | |||||||||||||||||||||||
$ | 225,000 | $ | — | $ | 225,000 | $ | 436,000 | $ | (3,723 | ) | $ | 432,277 | ||||||||||||||||||
_________________ | ||||||||||||||||||||||||||||||
-1 | On July 19, 2013, the Company called the 10.25% Senior Notes for redemption, as discussed below. | |||||||||||||||||||||||||||||
10.25% Senior Notes | ||||||||||||||||||||||||||||||
Transactions. In June 2013, Lions Gate Entertainment, Inc. ("LGEI"), the Company's wholly-owned subsidiary, paid $4.3 million to repurchase $4.0 million of aggregate principal amount (carrying value - $4.0 million) of the 10.25% Senior Notes. The Company recorded a loss on extinguishment in the quarter ended June 30, 2013 of $0.5 million, which included $0.2 million of deferred financing costs written off. | ||||||||||||||||||||||||||||||
The 10.25% Senior Notes were due November 1, 2016, but were redeemable by the Company at any time prior to November 1, 2013 at a redemption price of 100% of the principal amount plus the Applicable Premium, as defined in the indenture, and accrued and unpaid interest to the date of redemption. On July 19, 2013, LGEI used the proceeds from the issuance of the 5.25% Senior Secured Second-Priority Notes (the "5.25% Senior Notes") and the term loan issued in July 2013 (the "July 2013 Term Loan," and collectively the "New Issuances") as discussed below, whose principal amount collectively totaled $450.0 million, together with cash on hand and borrowings under its senior revolving credit facility, to fund the discharge by LGEI of the 10.25% Senior Notes, which LGEI called for early redemption on July 19, 2013. In conjunction with the early redemption, the Company paid $34.3 million, representing the present value of interest through the first call date of November 1, 2013 and related call premium pursuant to the terms of the indenture governing the 10.25% Senior Notes. This, along with $19.8 million of deferred financing costs and unamortized debt discount related to the redeemed notes, will be amortized over the life of the New Issuances to the extent deemed to be a modification of terms with creditors participating in both the New Issuances and the 10.25% Senior Notes redemption. The remaining amount of those costs plus certain New Issuance costs (as discussed below) amounting to $35.9 million in aggregate was expensed as an early extinguishment of debt in the quarter ended September 30, 2013. | ||||||||||||||||||||||||||||||
5.25% Senior Notes | ||||||||||||||||||||||||||||||
Transactions. On July 19, 2013, Lions Gate Entertainment Corp. issued $225.0 million aggregate principal amount of the 5.25% Senior Notes in a private placement. Transaction costs of $0.7 million relating to the issuance of the 5.25% Senior Notes were capitalized as deferred financing costs and will be amortized to interest expense using the effective interest method over the term of the 5.25% Senior Notes. The remaining $0.4 million of transaction costs were deemed to be related to a modification of terms with creditors participating in both the New Issuances and the 10.25% Senior Notes redemption and thus expensed as an early extinguishment of debt in the quarter ended September 30, 2013. | ||||||||||||||||||||||||||||||
Interest. Interest on the 5.25% Senior Notes is payable semiannually on February 1 and August 1 of each year at a rate of 5.25% per year, commencing on February 1, 2014. | ||||||||||||||||||||||||||||||
Maturity. The 5.25% Senior Notes mature on August 1, 2018. | ||||||||||||||||||||||||||||||
Guarantees. The Notes are guaranteed by all of the restricted subsidiaries of the Company that guarantee any material indebtedness of the Company or any other guarantor, subject, in the case of certain special purpose producers, to receipt of certain consents. | ||||||||||||||||||||||||||||||
Security Interest and Ranking. The 5.25% Senior Notes and the guarantees are secured by second-priority liens on substantially all of the Company’s and the guarantors’ tangible and intangible personal property, subject to certain exceptions and permitted liens. The 5.25% Senior Notes rank equally in right of payment with all of the Company’s existing and future debt that is not subordinated in right of payment to the 5.25% Senior Notes, including the Company’s existing convertible senior subordinated notes. The 5.25% Senior Notes are structurally subordinated to all existing and future liabilities (including trade payables) of the subsidiaries that do not guarantee the 5.25% Senior Notes. | ||||||||||||||||||||||||||||||
Optional Redemption. The Company may redeem the 5.25% Senior Notes, in whole or in part, at a price equal to 100% of the principal amount of the 5.25% Senior Notes, plus the Applicable Premium, as defined in the indenture governing the 5.25% Senior Notes, plus accrued and unpaid interest, if any, to the date of redemption. | ||||||||||||||||||||||||||||||
Change of Control. The occurrence of a change of control will be a triggering event requiring the Company to offer to purchase from holders some or all of the 5.25% Senior Notes at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the date of purchase. In addition, certain asset dispositions will be triggering events that may require the Company to use the excess proceeds from such dispositions to make an offer to purchase the 5.25% Senior Notes at 100% of their principal amount, plus accrued and unpaid interest, if any to the date of purchase. | ||||||||||||||||||||||||||||||
Covenants. The 5.25% Senior Notes contain certain restrictions and covenants that, subject to certain exceptions, limit the Company’s ability to incur additional indebtedness, pay dividends or repurchase the Company’s common shares, make certain loans or investments, and sell or otherwise dispose of certain assets subject to certain conditions, among other limitations. As of September 30, 2013, the Company was in compliance with all applicable covenants. | ||||||||||||||||||||||||||||||
July 2013 Term Loan | ||||||||||||||||||||||||||||||
Transactions. On July 19, 2013, in connection with the issuance of the 5.25% Senior Notes discussed above, the Company entered into a Second Lien Credit and Guarantee Agreement (the "July 2013 Term Loan"), pursuant to which the Company borrowed an aggregate amount of $222.5 million, net of an original issue discount of $2.5 million. Transaction costs of $3.5 million relating to the issuance of the July 2013 Term Loan were capitalized as deferred financing costs and will be amortized to interest expense using the effective interest method over the term of the July 2013 Term Loan. The remaining $2.2 million of transaction costs were deemed to be related to a modification of terms with creditors participating in both the New Issuances and the 10.25% Senior Notes redemption and thus expensed as an early extinguishment of debt in the quarter ended September 30, 2013. | ||||||||||||||||||||||||||||||
Outstanding Amount. The outstanding amount of the July 2013 Term Loan is set forth in the table below: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Principal amount | $ | 225,000 | ||||||||||||||||||||||||||||
Unamortized discount | (2,426 | ) | ||||||||||||||||||||||||||||
Net carrying amount | $ | 222,574 | ||||||||||||||||||||||||||||
Interest. The July 2013 Term Loan bears interest by reference to a base rate or the LIBOR rate, plus an applicable margin of 3.00% in the case of base rate loans and 4.00% in the case of LIBOR loans. The base rate is subject to a floor of 2.0%, and the LIBOR rate is subject to a floor of 1.0%. In the case of LIBOR loans, interest is paid according to the respective LIBOR maturity, and in the case of base rate loans, interest is paid quarterly on the last business day of the quarter. The effective interest rate on borrowings outstanding as of September 30, 2013 was approximately 5.00%. | ||||||||||||||||||||||||||||||
Maturity. The July 2013 Term Loan matures on July 19, 2020. | ||||||||||||||||||||||||||||||
Guarantees. Substantially similar to the 5.25% Senior Notes described above. | ||||||||||||||||||||||||||||||
Security Interest and Ranking. Substantially similar to the 5.25% Senior Notes described above. | ||||||||||||||||||||||||||||||
Optional Prepayment. The Company may voluntarily prepay the July 2013 Term Loan at any time, provided that if prepaid prior to July 19, 2014, the Company shall pay to the lenders an amount equal to all unpaid interest payable on the principal amount prepaid through July 19, 2014. In addition, the Company shall pay to the lenders a prepayment premium on the principal amount prepaid of (i) 2.0%, if such prepayment occurs on or before July 19, 2015 and (ii) 1.0%, if such prepayment occurs after July 19, 2015 and on or before July 19, 2016. No prepayment premium shall be payable if the prepayment occurs on or after July 19, 2016. | ||||||||||||||||||||||||||||||
Change of Control. The occurrence of a change of control will be a triggering event requiring the Company to offer to prepay some or all of the July 2013 Term Loan at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the date of prepayment. In addition, certain asset dispositions will be triggering events that may require the Company to use the excess proceeds from such dispositions to make an offer to prepay the July 2013 Term Loan at 100% of their principal amount, plus accrued and unpaid interest, if any to the date of prepayment. | ||||||||||||||||||||||||||||||
Covenants. Substantially similar to the 5.25% Senior Notes described above. As of September 30, 2013, the Company was in compliance with all applicable covenants. | ||||||||||||||||||||||||||||||
Summit Term Loan | ||||||||||||||||||||||||||||||
In connection with the acquisition of Summit Entertainment, LLC ("Summit") on January 13, 2012, the Company entered into a new $500.0 million principal amount term loan agreement (the "Summit Term Loan") and received net proceeds of $476.2 million, after original issue discount and offering fees and expenses. The net proceeds were used in connection with the acquisition of Summit to pay off Summit's existing term loan. The Summit Term Loan was to mature on September 7, 2016, and was secured by collateral consisting of the assets of Summit. The Summit Term Loan carried interest at a reference to a base rate, as defined, or the LIBOR rate (subject to a LIBOR floor of 1.25%), in either case plus an applicable margin of 4.50% in the case of base rate loans and 5.50% in the case of LIBOR loans. The Summit Term Loan was repayable in quarterly installments equal to $13.75 million, with the balance payable on the final maturity date. During the year ended March 31, 2013, the Company made accelerated payments on the Summit Term Loan and paid off all amounts outstanding under the Summit Term Loan, as well as accrued but unpaid interest. As a result of the accelerated pay-off, the Company wrote off a proportionate amount of the related unamortized deferred financing costs and debt discount in the aggregate of $22.7 million in the year ended March 31, 2013. | ||||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes | ||||||||||||||||||||||||||||||
Outstanding Amount. The following table sets forth the convertible senior subordinated notes outstanding at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||||
Principal | Unamortized | Net Carrying | Principal | Unamortized | Net Carrying | |||||||||||||||||||||||||
Discount | Amount | Discount | Amount | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes | ||||||||||||||||||||||||||||||
October 2004 2.9375% Notes (conversion price of $11.50 per share) (1) | $ | 115 | $ | — | $ | 115 | $ | 348 | $ | — | $ | 348 | ||||||||||||||||||
April 2009 3.625% Notes (conversion price of $8.25 per share) (1) | 64,501 | (11,292 | ) | 53,209 | 64,505 | (14,598 | ) | 49,907 | ||||||||||||||||||||||
January 2012 4.00% Notes (conversion price of $10.50 per share) (1) | 41,850 | (6,676 | ) | 35,174 | 45,000 | (8,088 | ) | 36,912 | ||||||||||||||||||||||
April 2013 1.25% Notes (conversion price of $30.00 per share) (2) | 60,000 | — | 60,000 | — | — | — | ||||||||||||||||||||||||
$ | 166,466 | $ | (17,968 | ) | $ | 148,498 | $ | 109,853 | $ | (22,686 | ) | $ | 87,167 | |||||||||||||||||
________________ | ||||||||||||||||||||||||||||||
-1 | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | |||||||||||||||||||||||||||||
-2 | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. | |||||||||||||||||||||||||||||
Interest Expense. The effective interest rate on the liability component and the amount of interest expense, which includes both the contractual interest coupon and amortization of the discount on the liability component, for the three and six months ended September 30, 2013 and 2012 are presented below. | ||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
October 2004 2.9375% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (9.65%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||||||||||
— | — | 5 | 5 | |||||||||||||||||||||||||||
February 2005 3.625% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (10.03%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | — | 80 | — | 328 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | — | — | — | 6 | ||||||||||||||||||||||||||
— | 80 | — | 334 | |||||||||||||||||||||||||||
April 2009 3.625% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (17.26%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 579 | 604 | 1,164 | 1,207 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 1,691 | 1,470 | 3,327 | 2,868 | ||||||||||||||||||||||||||
2,270 | 2,074 | 4,491 | 4,075 | |||||||||||||||||||||||||||
January 2012 4.00% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (9.56%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 427 | 450 | 877 | 900 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 450 | 429 | 910 | 849 | ||||||||||||||||||||||||||
877 | 879 | 1,787 | 1,749 | |||||||||||||||||||||||||||
April 2013 1.25% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 188 | — | 344 | — | ||||||||||||||||||||||||||
188 | — | 344 | — | |||||||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||||
Contractual interest coupon | 1,194 | 1,134 | 2,390 | 2,440 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 2,141 | 1,899 | 4,237 | 3,723 | ||||||||||||||||||||||||||
$ | 3,335 | $ | 3,033 | $ | 6,627 | $ | 6,163 | |||||||||||||||||||||||
Convertible Senior Subordinated Notes Transactions | ||||||||||||||||||||||||||||||
July 2013 Conversion of a Portion of January 2012 4.00% Notes. On July 24, 2013, $3.2 million of the principal amount of the January 2012 4.00% Notes were converted into the Company's common shares at a conversion rate of 95.23809 common shares per $1,000 in principal amount, or a conversion price of approximately $10.50 per share for an aggregate of 299,999 the Company's common shares. The Company recorded a loss on extinguishment in the quarter ended September 30, 2013 of $0.3 million. The loss represented the excess of the fair value of the liability component of the January 2012 4.00% Notes converted over their carrying values, plus the deferred financing costs written off. | ||||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes Terms | ||||||||||||||||||||||||||||||
October 2004 2.9375% Notes. In October 2004, LGEI sold $150.0 million of the October 2004 2.9375% Notes, of which $50.1 million was allocated to the equity component. | ||||||||||||||||||||||||||||||
Outstanding Amount: As of September 30, 2013, $0.1 million of aggregate principal amount (carrying value —$0.1 million) of the October 2004 2.9375% Notes remains outstanding. | ||||||||||||||||||||||||||||||
Interest: Interest on the October 2004 2.9375% Notes is payable semi-annually on April 15 and October 15. | ||||||||||||||||||||||||||||||
Maturity Date: The October 2004 2.9375% Notes mature on October 15, 2024. | ||||||||||||||||||||||||||||||
Redeemable by LGEI: LGEI may redeem the October 2004 2.9375% Notes at 100%. | ||||||||||||||||||||||||||||||
Repurchase Events: The holder may require LGEI to repurchase the October 2004 2.9375% Notes on October 15, 2014 and 2019 or upon a change in control at a price equal to 100% of the principal amount, together with accrued and unpaid interest through the date of repurchase. | ||||||||||||||||||||||||||||||
Conversion Features: The holder may convert the October 2004 2.9375% Notes into the Company’s common shares prior to maturity only if the price of the Company’s common shares issuable upon conversion of a note reaches or falls below a certain specific threshold over a specified period, the notes have been called for redemption, a change in control occurs or certain other corporate transactions occur. Before the close of business on or prior to the trading day immediately before the maturity date, the holder may convert the notes into the Company’s common shares at a conversion rate equal to 86.9565 shares per $1,000 principal amount of the October 2004 2.9375% Notes, subject to adjustment in certain circumstances, which represents a conversion price of approximately $11.50 per share. Upon conversion of the October 2004 2.9375% Notes, the Company has the option to deliver, in lieu of common shares, cash or a combination of cash and common shares of the Company. | ||||||||||||||||||||||||||||||
Make Whole Premium: Under certain circumstances, if the holder requires LGEI to repurchase all or a portion of their notes or the holder converts the notes upon a change in control, they will be entitled to receive a make whole premium. The amount of the make whole premium, if any, will be based on the price of the Company’s common shares on the effective date of the change in control. No make whole premium will be paid if the price of the Company’s common shares at such time is less than $8.79 per share or exceeds $50.00 per share. | ||||||||||||||||||||||||||||||
April 2009 3.625% Notes. In April 2009, LGEI issued approximately $66.6 million of 3.625% Convertible Senior Subordinated Notes, of which $16.2 million was allocated to the equity component. | ||||||||||||||||||||||||||||||
Outstanding Amount: As of September 30, 2013, $64.5 million of aggregate principal amount (carrying value — $53.2 million) of the April 2009 3.625% Notes remains outstanding. | ||||||||||||||||||||||||||||||
Interest: Interest on the April 2009 3.625% Notes is payable at 3.625% per annum semi-annually on March 15 and September 15 of each year. | ||||||||||||||||||||||||||||||
Maturity Date: The April 2009 3.625% Notes will mature on March 15, 2025. | ||||||||||||||||||||||||||||||
Redeemable by LGEI: On or after March 15, 2015, the Company may redeem the April 2009 3.625% Notes, in whole or in part, at a price equal to 100% of the principal amount of the April 2009 3.625% Notes to be redeemed, plus accrued and unpaid interest through the date of redemption. | ||||||||||||||||||||||||||||||
Repurchase Events: The holder may require LGEI to repurchase the April 2009 3.625% Notes on March 15, 2015, 2018 and 2023 or upon a “designated event,” (as defined in the governing indenture), including a change in control, at a price equal to 100% of the principal amount of the April 2009 3.625% Notes to be repurchased plus accrued and unpaid interest. | ||||||||||||||||||||||||||||||
Conversion Features: The April 2009 3.625% Notes may be converted into the Company's common shares at any time before maturity, redemption or repurchase. The initial conversion rate of the April 2009 3.625% Notes is 121.2121 common shares per $1,000 principal amount of the April 2009 3.625% Notes, subject to adjustment in certain circumstances, which represents a conversion price of approximately $8.25 per share. Upon conversion of the April 2009 3.625% Notes, the Company has the option to deliver, in lieu of common shares, cash or a combination of cash and common shares of the Company. | ||||||||||||||||||||||||||||||
Make Whole Premium: Under certain circumstances, if the holder requires LGEI to repurchase all or a portion of their notes upon a change in control, they will be entitled to receive a make whole premium. The amount of the make whole premium, if any, will be based on the price of the Company’s common shares on the effective date of the change in control. No make whole premium will be paid if the price of the Company’s common shares at such time is less than $5.36 per share or exceeds $50.00 per share. | ||||||||||||||||||||||||||||||
January 2012 4.00% Notes. In January 2012, LGEI issued approximately $45.0 million of January 2012 4.00% Notes, of which $10.1 million was allocated to the equity component. | ||||||||||||||||||||||||||||||
Outstanding Amount: As of September 30, 2013, $41.9 million of aggregate principal amount (carrying value — $35.2 million) of the January 2012 4.00% Notes remains outstanding. | ||||||||||||||||||||||||||||||
Interest: Interest on the January 2012 4.00% Notes is payable at 4.00% per annum semi-annually on January 15 and July 15 of each year, commencing on July 15, 2012. | ||||||||||||||||||||||||||||||
Maturity Date: The January 2012 4.00% Notes will mature on January 11, 2017. | ||||||||||||||||||||||||||||||
Conversion Features: The January 2012 4.00% Notes are convertible into the Company's common shares at any time prior to maturity or repurchase by the Company, at an initial conversion price of approximately $10.50 per share, subject to adjustment in certain circumstances as specified in the governing indenture. Upon conversion of the January 2012 4.00% Notes, the Company has the option to deliver, in lieu of common shares, cash or a combination of cash and common shares of the Company. | ||||||||||||||||||||||||||||||
April 2013 1.25% Notes. In April 2013, LGEI issued approximately $60.0 million in aggregate principal amount of April 2013 1.25% Notes. | ||||||||||||||||||||||||||||||
Outstanding Amount: As of September 30, 2013, $60.0 million of aggregate principal amount (carrying value - $60.0 million) of the April 2013 1.25% Notes remains outstanding. | ||||||||||||||||||||||||||||||
Interest: Interest on the April 2013 1.25% Notes is payable semi-annually on April 15 and October 15 of each year, commencing on October 15, 2013. | ||||||||||||||||||||||||||||||
Maturity Date: The April 2013 1.25% Notes will mature on April 15, 2018. | ||||||||||||||||||||||||||||||
Conversion Features: The April 2013 1.25% Notes are convertible into only the Company's common shares at any time prior to maturity or repurchase by the Company, at an initial conversion price of approximately $30.00 per share, subject to adjustment in certain circumstances as specified in its Indenture. |
Participations_and_Residuals
Participations and Residuals | 6 Months Ended |
Sep. 30, 2013 | |
Participations And Residuals [abstract] | ' |
Participations And Residuals | ' |
Participations and Residuals | |
The Company expects approximately 61% of accrued participations and residuals will be paid during the one-year period ending September 30, 2014. |
Film_Obligations_and_Productio
Film Obligations and Production Loans | 6 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Film Obligations And Production Loans [Abstract] | ' | |||||||||||||||||||||||||||
Film Obligations And Production Loans | ' | |||||||||||||||||||||||||||
Film Obligations and Production Loans | ||||||||||||||||||||||||||||
September 30, | March 31, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Film obligations | $ | 66,491 | $ | 99,678 | ||||||||||||||||||||||||
Production loans | ||||||||||||||||||||||||||||
Individual production loans | 377,670 | 404,341 | ||||||||||||||||||||||||||
Pennsylvania Regional Center production loans | — | 65,000 | ||||||||||||||||||||||||||
Total film obligations and production loans | $ | 444,161 | $ | 569,019 | ||||||||||||||||||||||||
The following table sets forth future annual repayment of film obligations and production loans as of September 30, 2013: | ||||||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||||||
March 31, | Year Ended March 31, | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Film obligations | $ | 17,778 | $ | 22,020 | $ | 16,680 | $ | 6,000 | $ | 6,000 | $ | 1,000 | $ | 69,478 | ||||||||||||||
Individual production loans | 219,728 | 137,010 | 20,932 | — | — | — | 377,670 | |||||||||||||||||||||
$ | 237,506 | $ | 159,030 | $ | 37,612 | $ | 6,000 | $ | 6,000 | $ | 1,000 | 447,148 | ||||||||||||||||
Less imputed interest on film obligations | (2,987 | ) | ||||||||||||||||||||||||||
$ | 444,161 | |||||||||||||||||||||||||||
Film Obligations | ||||||||||||||||||||||||||||
Film obligations include minimum guarantees, which represent amounts payable for film rights that the Company has acquired and certain theatrical marketing obligations, which represent amounts received from third parties that are contractually committed for theatrical marketing expenditures associated with specific titles. | ||||||||||||||||||||||||||||
Individual Production Loans | ||||||||||||||||||||||||||||
Production loans represent individual loans for the production of film and television programs that the Company produces. Individual production loans have contractual repayment dates either at or near the expected completion date, with the exception of certain loans containing repayment dates on a longer term basis. Individual production loans of $362.7 million at September 30, 2013 incur interest at rates ranging from 2.76% to 3.64%, and approximately $15.0 million of production loans are non-interest bearing. | ||||||||||||||||||||||||||||
Pennsylvania Regional Center | ||||||||||||||||||||||||||||
In April 2008, the Company entered into a loan agreement with the Pennsylvania Regional Center, which provided for the availability of production loans up to $65.5 million on a five-year term for use in film and television productions in the State of Pennsylvania. Amounts borrowed under the agreement carried an interest rate of 1.5%, which was payable semi-annually. The Pennsylvania Regional Center facility matured on April 11, 2013, and was fully repaid at that time. Accordingly, at September 30, 2013, the Company had no borrowings outstanding (March 31, 2013 — $65.0 million). | ||||||||||||||||||||||||||||
Film Credit Facility | ||||||||||||||||||||||||||||
On October 6, 2009, the Company entered into a revolving film credit facility agreement, as amended effective December 31, 2009 and June 22, 2010 (the “Film Credit Facility”), which provided for borrowings for the acquisition or production of motion pictures. The Film Credit Facility expired on April 6, 2013, and accordingly, at September 30, 2013, the Company had no borrowings outstanding (March 31, 2013 — nil). |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
Fair Value | ||||||||||||||||
Accounting guidance and standards about fair value define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. | ||||||||||||||||
Fair Value Hierarchy | ||||||||||||||||
Accounting guidance and standards about fair value establish a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The accounting guidance and standards establish three levels of inputs that may be used to measure fair value: | ||||||||||||||||
• | Level 1 — Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||
• | Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 liabilities that are not required to be measured at fair value on a recurring basis include the Company’s convertible senior subordinated notes, individual production loans, Pennsylvania Regional Center Loan (outstanding at March 31, 2013 only), senior secured second-priority notes, and July 2013 Term Loan, which are priced using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, three- and seven-year swap rates, and credit ratings. | |||||||||||||||
• | Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The Company measures the fair value of its investment in TVGN's Mandatorily Redeemable Preferred Stock Units using primarily a discounted cash flow analysis based on the expected cash flows of the investment. The analysis reflects the contractual terms of the investment, including the period to maturity, and uses a discount rate commensurate with the risk associated with the investment. | |||||||||||||||
The following table sets forth the carrying values and fair values of the Company’s investment in TVGN's mandatorily redeemable preferred stock units and outstanding debt at September 30, 2013 and March 31, 2013: | ||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Carrying | Fair Value | Carrying Value | Fair Value | |||||||||||||
Value | ||||||||||||||||
(Level 3) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Investment in TVGN's Mandatorily Redeemable Preferred Stock Units | $ | 87,465 | $ | 152,372 | $ | 91,408 | $ | 140,312 | ||||||||
Carrying | Fair Value | Carrying Value | Fair Value | |||||||||||||
Value | ||||||||||||||||
(Level 2) | (Level 2) | |||||||||||||||
Liabilities: | ||||||||||||||||
October 2004 2.9375% Notes | $ | 115 | $ | 105 | $ | 348 | $ | 276 | ||||||||
April 2009 3.625% Notes | 53,209 | 63,719 | 49,907 | 66,939 | ||||||||||||
January 2012 4.00% Notes | 35,174 | 40,214 | 36,912 | 48,878 | ||||||||||||
April 2013 1.25% Notes | 60,000 | 48,101 | — | — | ||||||||||||
Individual production loans | 377,670 | 377,456 | 404,341 | 403,883 | ||||||||||||
Pennsylvania Regional Center production loans | — | — | 65,000 | 65,000 | ||||||||||||
Senior secured second-priority notes | 225,000 | 222,188 | 432,277 | 477,965 | ||||||||||||
July 2013 Term Loan | 222,574 | 227,813 | — | — | ||||||||||||
$ | 973,742 | $ | 979,596 | $ | 988,785 | $ | 1,062,941 | |||||||||
Direct_Operating_Expenses
Direct Operating Expenses | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Direct Operating Costs [Abstract] | ' | |||||||||||||||
Direct Operating Expenses | ' | |||||||||||||||
Direct Operating Expenses | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Amortization of films and television programs | $ | 157,136 | $ | 227,567 | $ | 376,500 | $ | 394,664 | ||||||||
Participations and residual expense | 105,300 | 94,560 | 191,126 | 173,163 | ||||||||||||
Other expenses: | ||||||||||||||||
Provision for doubtful accounts | 1,501 | 305 | 1,413 | (382 | ) | |||||||||||
Foreign exchange losses (gains) | (2,139 | ) | 798 | (796 | ) | 1,603 | ||||||||||
$ | 261,798 | $ | 323,230 | $ | 568,243 | $ | 569,048 | |||||||||
Net_Income_Per_Share
Net Income Per Share | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Income Per Share | ' | |||||||||||||||
Net Income Per Share | ||||||||||||||||
Basic net income per share is calculated based on the weighted average common shares outstanding for the period. Basic net income per share for the three and six months ended September 30, 2013 and 2012 is presented below: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands, except per share amounts) | ||||||||||||||||
Basic Net Income Per Common Share: | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 505 | $ | 75,529 | $ | 14,122 | $ | 31,329 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 | ||||||||||||
Basic Net Income Per Common Share | $ | 0 | $ | 0.56 | $ | 0.1 | $ | 0.23 | ||||||||
Diluted net income per common share reflects the potential dilutive effect, if any, of the conversion of the October 2004 2.9375% Notes, the February 2005 3.625% Notes, the April 2009 3.625% Notes, the January 2012 4.00% Notes, and the April 2013 1.25% Notes under the "if converted" method. Diluted net income per common share also reflects share purchase options, including equity-settled SARs, and restricted share units using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. Diluted net income per common share for the three and six months ended September 30, 2013 and 2012 is presented below: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands, except per share amounts) | ||||||||||||||||
Diluted Net Income Per Common Share: | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 505 | $ | 75,529 | $ | 14,122 | $ | 31,329 | ||||||||
Add: | ||||||||||||||||
Interest on convertible notes, net of tax | — | 2,828 | — | — | ||||||||||||
Numerator for Diluted Net Income Per Common Share | $ | 505 | $ | 78,357 | $ | 14,122 | $ | 31,329 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Conversion of notes | — | 12,613 | — | 30 | ||||||||||||
Share purchase options | 2,854 | 935 | 2,530 | 402 | ||||||||||||
Restricted share units | 680 | 758 | 669 | 363 | ||||||||||||
Adjusted weighted average common shares outstanding | 140,681 | 148,696 | 139,870 | 134,610 | ||||||||||||
Diluted Net Income Per Common Share | $ | 0 | $ | 0.53 | $ | 0.1 | $ | 0.23 | ||||||||
For the three and six months ended September 30, 2013 and 2012, the Company's outstanding common shares issuable presented below were excluded from diluted net income per common share because their inclusion would have had an anti-dilutive effect. | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Anti-dilutive shares issuable | ||||||||||||||||
Conversion of notes | 13,891 | — | 13,856 | 13,287 | ||||||||||||
Share purchase options | 2,206 | 634 | 1,990 | 514 | ||||||||||||
Restricted share units | 12 | 28 | 20 | 87 | ||||||||||||
Contingently issuable shares | 444 | 566 | 443 | 563 | ||||||||||||
Total weighted average anti-dilutive shares issuable excluded from Diluted Net Income Per Common Share | 16,553 | 1,228 | 16,309 | 14,451 | ||||||||||||
Capital_Stock
Capital Stock | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Equity and Share-based Compensation [Abstract] | ' | |||||||||||||||
Capital Stock | ' | |||||||||||||||
Capital Stock | ||||||||||||||||
(a) Common Shares | ||||||||||||||||
The Company had 500 million authorized common shares at September 30, 2013 and March 31, 2013. The table below outlines common shares reserved for future issuance: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Stock options outstanding, average exercise price $18.25 (March 31, 2013 - $13.72) | 8,552 | 6,421 | ||||||||||||||
Restricted share units — unvested | 2,069 | 2,077 | ||||||||||||||
Share purchase options and restricted share units available for future issuance | 4,479 | 12,341 | ||||||||||||||
Shares issuable upon conversion of October 2004 2.9375% Notes at conversion price of $11.50 per share | 10 | 30 | ||||||||||||||
Shares issuable upon conversion of April 2009 3.625% Notes at conversion price of $8.25 per share | 7,819 | 7,819 | ||||||||||||||
Shares issuable upon conversion of January 2012 4.00% Notes at conversion price of $10.50 per share | 3,986 | 4,286 | ||||||||||||||
Shares issuable upon conversion of April 2013 1.25% Notes at conversion price of $30.00 per share | 2,000 | — | ||||||||||||||
Shares reserved for future issuance | 28,915 | 32,974 | ||||||||||||||
In September 2012, the Company adopted the 2012 Performance Incentive Plan (the "2012 Plan"). The 2012 Plan provides for the issuance of up to an additional 18.3 million common shares of the Company, stock options, share appreciation rights, restricted stock, stock bonuses and other forms of awards granted or denominated in common shares or units of common shares of the Company, as well as certain cash bonus awards to eligible directors of the Company, officers or employees of the Company or any of its subsidiaries, and certain consultants and advisors to the Company or any of its subsidiaries. | ||||||||||||||||
(b) Share-based Compensation | ||||||||||||||||
The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2013, and 2012: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Compensation Expense: | ||||||||||||||||
Stock Options | $ | 5,971 | $ | 356 | $ | 9,738 | $ | 655 | ||||||||
Restricted Share Units and Other Share-based Compensation | 8,032 | 4,404 | 15,435 | 11,628 | ||||||||||||
Stock Appreciation Rights | 8,385 | 2,139 | 14,962 | 4,365 | ||||||||||||
Total share-based compensation expense | $ | 22,388 | $ | 6,899 | $ | 40,135 | $ | 16,648 | ||||||||
Tax impact (1) | (8,284 | ) | — | (14,850 | ) | — | ||||||||||
Reduction in net income | $ | 14,104 | $ | 6,899 | $ | 25,285 | $ | 16,648 | ||||||||
____________________________ | ||||||||||||||||
-1 | Represents the income tax benefit recognized in the statements of operations for share-based compensation arrangements. | |||||||||||||||
During the six months ended September 30, 2013, the Company granted 2,595,213 and 891,270 stock options and restricted share units, respectively, at a weighted-average grant-date fair value of $12.57 and $27.07, respectively. | ||||||||||||||||
During the three months ended September 30, 2013, 150,000 cash-settled stock appreciation rights ("SARs") were exercised resulting in a cash payment of $4.0 million. Additionally, 733,334 cash-settled SARs were converted to stock options, carrying the same exercise price and other terms as the cash-settled SARs, resulting in a reduction of the related liability and increase to equity of $17.2 million. | ||||||||||||||||
During the six months ended September 30, 2013 and 2012, 1,125,491 and 10,000 options, respectively, were exercised. The total intrinsic value of options exercised as of each exercise date during the six months ended September 30, 2013 and 2012 was $27.1 million and $0.1 million, respectively. | ||||||||||||||||
Total unrecognized compensation cost related to unvested stock options and restricted share unit awards at September 30, 2013 are $58.2 million and $29.1 million, respectively, and are expected to be recognized over a weighted average period of 2.7 and 1.8 years, respectively. |
Income_Taxes
Income Taxes | 6 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The income tax benefit in the three and six months ended September 30, 2013 includes a discrete benefit of $12.0 million from the reversal of a valuation allowance against the Company's net deferred tax assets in the Canadian tax jurisdiction. Due to certain financing transactions in the quarter ended September 30, 2013, these net deferred tax assets were determined to be more likely than not to be realized in the future. Excluding the discrete benefit, the tax benefit would be 37.1% of loss before income taxes for the three months ended September 30, 2013, and 36.5% of income before income taxes for the six months ended September 30, 2013. This compares to the effective tax rate for the three and six months ended September 30, 2012 of 38.9% and 39.6%, respectively, as adjusted to exclude the changes in the valuation allowance and other discrete items. | |
The income tax provision for the three and six months ended September 30, 2013 is calculated by estimating the Company's annual effective tax rate (estimated annual tax provision divided by estimated annual income before income taxes) and then applying the effective tax rate to income (loss) before income taxes for the quarter, along with any items that relate discretely to the quarter. The tax provision in the three and six months ended September 30, 2012 was significantly impacted by changes in the Company's valuation allowance on its net deferred tax asset, and the provision primarily represented deferred U.S. income taxes and foreign withholding taxes. The Company reversed a substantial portion of its valuation allowance in fiscal 2013. |
Segment_Information
Segment Information | 6 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||
Segment Information | ||||||||||||||||||||||||
Accounting guidance requires the Company to make certain disclosures about each reportable segment. The Company’s reportable segments are determined based on the distinct nature of their operations and each segment is a strategic business unit that offers different products and services and is managed separately. The Company has two reportable business segments as of September 30, 2013: Motion Pictures and Television Production. | ||||||||||||||||||||||||
Motion Pictures consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. | ||||||||||||||||||||||||
Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series and non-fiction programming. | ||||||||||||||||||||||||
Segmented information by business unit is as follows: | ||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Segment revenues | ||||||||||||||||||||||||
Motion Pictures | $ | 434,397 | $ | 607,972 | $ | 873,042 | $ | 1,014,506 | ||||||||||||||||
Television Production | 64,332 | 98,996 | 195,415 | 164,282 | ||||||||||||||||||||
$ | 498,729 | $ | 706,968 | $ | 1,068,457 | $ | 1,178,788 | |||||||||||||||||
Direct operating expenses | ||||||||||||||||||||||||
Motion Pictures | $ | 209,893 | $ | 243,325 | $ | 413,173 | $ | 437,007 | ||||||||||||||||
Television Production | 51,905 | 79,905 | 155,070 | 132,041 | ||||||||||||||||||||
$ | 261,798 | $ | 323,230 | $ | 568,243 | $ | 569,048 | |||||||||||||||||
Distribution and marketing | ||||||||||||||||||||||||
Motion Pictures | $ | 139,698 | $ | 229,134 | $ | 304,799 | $ | 402,035 | ||||||||||||||||
Television Production | 5,804 | 7,308 | 12,163 | 13,116 | ||||||||||||||||||||
$ | 145,502 | $ | 236,442 | $ | 316,962 | $ | 415,151 | |||||||||||||||||
Gross segment contribution before general and administration expenses | ||||||||||||||||||||||||
Motion Pictures | $ | 84,806 | $ | 135,513 | $ | 155,070 | $ | 175,464 | ||||||||||||||||
Television Production | 6,623 | 11,783 | 28,182 | 19,125 | ||||||||||||||||||||
$ | 91,429 | $ | 147,296 | $ | 183,252 | $ | 194,589 | |||||||||||||||||
General and administration | ||||||||||||||||||||||||
Motion Pictures | $ | 15,993 | $ | 15,105 | $ | 32,425 | $ | 31,950 | ||||||||||||||||
Television Production | 3,543 | 2,922 | 6,551 | 5,635 | ||||||||||||||||||||
$ | 19,536 | $ | 18,027 | $ | 38,976 | $ | 37,585 | |||||||||||||||||
Segment profit | ||||||||||||||||||||||||
Motion Pictures | $ | 68,813 | $ | 120,408 | $ | 122,645 | $ | 143,514 | ||||||||||||||||
Television Production | 3,080 | 8,861 | 21,631 | 13,490 | ||||||||||||||||||||
$ | 71,893 | $ | 129,269 | $ | 144,276 | $ | 157,004 | |||||||||||||||||
Acquisition of investment in films and television programs | ||||||||||||||||||||||||
Motion Pictures | $ | 97,371 | $ | 183,483 | $ | 219,610 | $ | 264,534 | ||||||||||||||||
Television Production | 79,992 | 78,632 | 118,686 | 158,586 | ||||||||||||||||||||
$ | 177,363 | $ | 262,115 | $ | 338,296 | $ | 423,120 | |||||||||||||||||
Gross segment contribution before general and administration expenses is defined as segment revenue less segment direct operating and distribution and marketing expenses. | ||||||||||||||||||||||||
Segment profit is defined as segment revenue less segment direct operating, distribution and marketing, and general and administration expenses. The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: | ||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Company’s total segment profit | $ | 71,893 | $ | 129,269 | $ | 144,276 | $ | 157,004 | ||||||||||||||||
Less: | ||||||||||||||||||||||||
Shared services and corporate expenses (1) | (44,237 | ) | (26,003 | ) | (81,567 | ) | (58,789 | ) | ||||||||||||||||
Depreciation and amortization | (1,611 | ) | (2,115 | ) | (3,236 | ) | (4,220 | ) | ||||||||||||||||
Interest expense | (16,172 | ) | (23,285 | ) | (36,986 | ) | (50,775 | ) | ||||||||||||||||
Interest and other income | 1,483 | 1,029 | 2,979 | 1,979 | ||||||||||||||||||||
Loss on extinguishment of debt | (36,187 | ) | (1,000 | ) | (36,653 | ) | (9,159 | ) | ||||||||||||||||
Equity interests income | 6,502 | 1,755 | 14,479 | 1,610 | ||||||||||||||||||||
Income (loss) before income taxes | $ | (18,329 | ) | $ | 79,650 | $ | 3,292 | $ | 37,650 | |||||||||||||||
________________________ | ||||||||||||||||||||||||
-1 | The following table presents certain charges included in shared services and corporate expenses: | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Share-based compensation expense | $ | 22,388 | $ | 6,899 | $ | 40,135 | $ | 16,648 | ||||||||||||||||
Severance and transaction costs related to the | — | 300 | — | 2,027 | ||||||||||||||||||||
acquisition of Summit | ||||||||||||||||||||||||
Other shared services and corporate expenses | 21,849 | 18,804 | 41,432 | 40,114 | ||||||||||||||||||||
$ | 44,237 | $ | 26,003 | $ | 81,567 | $ | 58,789 | |||||||||||||||||
The following table sets forth significant assets as broken down by segment and other unallocated assets as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||
Motion | Television | Total | Motion | Television | Total | |||||||||||||||||||
Pictures | Production | Pictures | Production | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Significant assets by segment | ||||||||||||||||||||||||
Accounts receivable | $ | 460,949 | $ | 235,635 | $ | 696,584 | $ | 551,400 | $ | 235,750 | $ | 787,150 | ||||||||||||
Investment in films and television programs, net | 958,562 | 249,677 | 1,208,239 | 1,002,800 | 241,275 | 1,244,075 | ||||||||||||||||||
Goodwill | 294,367 | 28,961 | 323,328 | 294,367 | 28,961 | 323,328 | ||||||||||||||||||
$ | 1,713,878 | $ | 514,273 | $ | 2,228,151 | $ | 1,848,567 | $ | 505,986 | $ | 2,354,553 | |||||||||||||
Other unallocated assets (primarily cash, other assets, and equity method investments) | 423,724 | 406,316 | ||||||||||||||||||||||
Total assets | $ | 2,651,875 | $ | 2,760,869 | ||||||||||||||||||||
Purchases of property and equipment amounted to $2.0 million and $3.4 million for the three and six months ended September 30, 2013, respectively, and $0.6 million and $1.0 million for the three and six months ended September 30, 2012, respectively, primarily pertaining to purchases for the Company’s corporate headquarters. |
Contingencies
Contingencies | 6 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
Contingencies | |
From time to time, the Company is involved in certain claims and legal proceedings arising in the normal course of business. While the resolution of these matters cannot be predicted with certainty, the Company does not believe, based on current knowledge, that the outcome of any currently pending claims or legal proceedings in which the Company is currently involved will have a material adverse effect on the Company’s financial statements. |
Consolidating_Financial_Inform
Consolidating Financial Information - Convertible Senior Subordinated Notes (Convertible Senior Subordinated Notes [Member]) | 6 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Convertible Senior Subordinated Notes [Member] | ' | |||||||||||||||||||
Consolidating Financial Information [Line Items] | ' | |||||||||||||||||||
Consolidating Financial Information - Convertible Senior Subordinated Notes | ' | |||||||||||||||||||
Consolidating Financial Information — Convertible Senior Subordinated Notes | ||||||||||||||||||||
The October 2004 2.9375% Notes, the April 2009 3.625% Notes, the January 2012 4.00% Notes, and the April 2013 1.25% Notes by their terms, are fully and unconditionally guaranteed by the Company. | ||||||||||||||||||||
The following tables present condensed consolidating financial information as of September 30, 2013 and March 31, 2013, and for the six months ended September 30, 2013 and 2012 for (1) the Company, on a stand-alone basis, (2) LGEI, on a stand-alone basis, (3) the non-guarantor subsidiaries of the Company (including the subsidiaries of LGEI), on a combined basis (collectively, the “Non-guarantor Subsidiaries”) and (4) the Company, on a consolidated basis. | ||||||||||||||||||||
As of | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
BALANCE SHEET | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 1,775 | $ | 35,331 | $ | 30,106 | $ | — | $ | 67,212 | ||||||||||
Restricted cash | — | 8,122 | — | — | 8,122 | |||||||||||||||
Accounts receivable, net | 696 | 3,524 | 692,364 | — | 696,584 | |||||||||||||||
Investment in films and television programs, net | 243 | 6,394 | 1,200,153 | 1,449 | 1,208,239 | |||||||||||||||
Property and equipment, net | — | 10,146 | 440 | — | 10,586 | |||||||||||||||
Equity method investments | — | 5,226 | 159,436 | — | 164,662 | |||||||||||||||
Goodwill | 10,173 | — | 313,155 | — | 323,328 | |||||||||||||||
Other assets | 4,269 | 74,070 | 8,717 | (6,571 | ) | 80,485 | ||||||||||||||
Deferred tax assets | 12,929 | 66,176 | 13,552 | — | 92,657 | |||||||||||||||
Subsidiary investments and advances | 897,813 | 869,948 | 63,017 | (1,830,778 | ) | — | ||||||||||||||
$ | 927,898 | $ | 1,078,937 | $ | 2,480,940 | $ | (1,835,900 | ) | $ | 2,651,875 | ||||||||||
Liabilities and Shareholders’ Equity (Deficiency) | ||||||||||||||||||||
Senior revolving credit facility | $ | — | $ | 285,474 | $ | — | $ | — | $ | 285,474 | ||||||||||
Senior secured second-priority notes | 222,574 | — | — | — | 222,574 | |||||||||||||||
July 2013 Term Loan | 225,000 | — | — | 225,000 | ||||||||||||||||
Accounts payable and accrued liabilities | 6,261 | 39,381 | 172,170 | (132 | ) | 217,680 | ||||||||||||||
Participations and residuals | — | 3,408 | 409,931 | 29 | 413,368 | |||||||||||||||
Film obligations and production loans | — | — | 444,161 | — | 444,161 | |||||||||||||||
Convertible senior subordinated notes | — | 148,498 | — | — | 148,498 | |||||||||||||||
Deferred revenue | — | 13,080 | 255,987 | — | 269,067 | |||||||||||||||
Intercompany payable | 48,010 | 904,322 | 251,600 | (1,203,932 | ) | — | ||||||||||||||
Shareholders’ equity (deficiency) | 426,053 | (315,226 | ) | 947,091 | (631,865 | ) | 426,053 | |||||||||||||
$ | 927,898 | $ | 1,078,937 | $ | 2,480,940 | $ | (1,835,900 | ) | $ | 2,651,875 | ||||||||||
Six Months Ended | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
STATEMENT OF OPERATIONS | ||||||||||||||||||||
Revenues | $ | 6,748 | $ | 15,078 | $ | 1,055,142 | $ | (8,511 | ) | $ | 1,068,457 | |||||||||
EXPENSES: | ||||||||||||||||||||
Direct operating | (255 | ) | (1,524 | ) | 570,022 | — | 568,243 | |||||||||||||
Distribution and marketing | — | 1,936 | 315,026 | — | 316,962 | |||||||||||||||
General and administration | 805 | 79,986 | 40,057 | (305 | ) | 120,543 | ||||||||||||||
Depreciation and amortization | — | 1,072 | 2,164 | — | 3,236 | |||||||||||||||
Total expenses | 550 | 81,470 | 927,269 | (305 | ) | 1,008,984 | ||||||||||||||
OPERATING INCOME (LOSS) | 6,198 | (66,392 | ) | 127,873 | (8,206 | ) | 59,473 | |||||||||||||
Other expenses (income): | ||||||||||||||||||||
Interest expense | 5,340 | 37,191 | 2,454 | (7,999 | ) | 36,986 | ||||||||||||||
Interest and other income | (7,614 | ) | (2,161 | ) | (1,203 | ) | 7,999 | (2,979 | ) | |||||||||||
Loss on extinguishment of debt | 2,600 | 34,053 | — | — | 36,653 | |||||||||||||||
Total other expenses (income) | 326 | 69,083 | 1,251 | — | 70,660 | |||||||||||||||
INCOME (LOSS) BEFORE EQUITY INTERESTS AND INCOME TAXES | 5,872 | (135,475 | ) | 126,622 | (8,206 | ) | (11,187 | ) | ||||||||||||
Equity interests income (loss) | (4,672 | ) | 128,059 | 18,008 | (126,916 | ) | 14,479 | |||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 1,200 | (7,416 | ) | 144,630 | (135,122 | ) | 3,292 | |||||||||||||
Income tax provision (benefit) | (12,922 | ) | (2,744 | ) | 53,049 | (48,213 | ) | (10,830 | ) | |||||||||||
NET INCOME (LOSS) | 14,122 | (4,672 | ) | 91,581 | (86,909 | ) | 14,122 | |||||||||||||
Foreign currency translation adjustments | 2,931 | 18,247 | 11,974 | (29,565 | ) | 3,587 | ||||||||||||||
Net unrealized loss on foreign exchange contracts | — | — | (656 | ) | — | (656 | ) | |||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 17,053 | $ | 13,575 | $ | 102,899 | $ | (116,474 | ) | $ | 17,053 | |||||||||
Six Months Ended | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | (439,477 | ) | $ | 466,030 | $ | 84,018 | $ | — | $ | 110,571 | |||||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Proceeds from the sale of a portion of equity method investee | — | — | 9,000 | — | 9,000 | |||||||||||||||
Investment in equity method investees | — | (750 | ) | (3,000 | ) | — | (3,750 | ) | ||||||||||||
Dividends from equity method investee in excess of earnings | 4,169 | 4,169 | ||||||||||||||||||
Repayment of loans receivable | — | — | 3,000 | — | 3,000 | |||||||||||||||
Purchases of property and equipment | — | (3,199 | ) | (196 | ) | — | (3,395 | ) | ||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | — | (3,949 | ) | 12,973 | — | 9,024 | ||||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Senior revolving credit facility - borrowings | — | 428,100 | — | — | 428,100 | |||||||||||||||
Senior revolving credit facility - repayments | — | (481,100 | ) | — | — | (481,100 | ) | |||||||||||||
Senior secured second-priority notes - borrowings, net of deferred financing costs | 224,593 | 224,593 | ||||||||||||||||||
Senior secured second-priority notes - repurchases and redemptions | — | (470,584 | ) | — | — | (470,584 | ) | |||||||||||||
July 2013 Term Loan - borrowings, net of deferred financing costs | 218,213 | 218,213 | ||||||||||||||||||
Convertible senior subordinated notes - borrowings | — | 60,000 | — | — | 60,000 | |||||||||||||||
Production loans - borrowings | — | — | 169,427 | — | 169,427 | |||||||||||||||
Production loans - repayments | — | — | (196,098 | ) | — | (196,098 | ) | |||||||||||||
Pennsylvania Regional Center credit facility - repayments | (65,000 | ) | (65,000 | ) | ||||||||||||||||
Exercise of stock options | 9,120 | — | — | — | 9,120 | |||||||||||||||
Tax withholding required on equity awards | (11,257 | ) | — | — | — | (11,257 | ) | |||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | 440,669 | (463,584 | ) | (91,671 | ) | — | (114,586 | ) | ||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,192 | (1,503 | ) | 5,320 | — | 5,009 | ||||||||||||||
FOREIGN EXCHANGE EFFECTS ON CASH | (9 | ) | — | (151 | ) | — | (160 | ) | ||||||||||||
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD | 592 | 36,834 | 24,937 | — | 62,363 | |||||||||||||||
CASH AND CASH EQUIVALENTS — END OF PERIOD | $ | 1,775 | $ | 35,331 | $ | 30,106 | $ | — | $ | 67,212 | ||||||||||
As of | ||||||||||||||||||||
March 31, 2013 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
BALANCE SHEET | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 592 | $ | 36,834 | $ | 24,937 | $ | — | $ | 62,363 | ||||||||||
Restricted cash | — | 9,903 | 761 | — | 10,664 | |||||||||||||||
Accounts receivable, net | 655 | 5,017 | 781,478 | — | 787,150 | |||||||||||||||
Investment in films and television programs, net | 246 | 6,391 | 1,238,966 | (1,528 | ) | 1,244,075 | ||||||||||||||
Property and equipment, net | — | 8,019 | 511 | — | 8,530 | |||||||||||||||
Equity method investments | — | 8,005 | 162,262 | (817 | ) | 169,450 | ||||||||||||||
Goodwill | 10,173 | — | 313,155 | — | 323,328 | |||||||||||||||
Other assets | 49,195 | 56,544 | 15,879 | (48,999 | ) | 72,619 | ||||||||||||||
Deferred tax assets | — | 69,118 | 13,572 | — | 82,690 | |||||||||||||||
Subsidiary investments and advances | 296,373 | 451,668 | — | (748,041 | ) | — | ||||||||||||||
$ | 357,234 | $ | 651,499 | $ | 2,551,521 | $ | (799,385 | ) | $ | 2,760,869 | ||||||||||
Liabilities and Shareholders’ Equity (Deficiency) | ||||||||||||||||||||
Senior revolving credit facility | $ | — | $ | 338,474 | $ | — | $ | — | $ | 338,474 | ||||||||||
Senior secured second-priority notes | — | 432,277 | — | — | 432,277 | |||||||||||||||
Accounts payable and accrued liabilities | 449 | 104,078 | 209,258 | (165 | ) | 313,620 | ||||||||||||||
Participations and residuals | 186 | 3,411 | 406,077 | 89 | 409,763 | |||||||||||||||
Film obligations and production loans | 73 | — | 568,946 | — | 569,019 | |||||||||||||||
Convertible senior subordinated notes | — | 87,167 | 49,000 | (49,000 | ) | 87,167 | ||||||||||||||
Deferred revenue | — | 14,899 | 239,124 | — | 254,023 | |||||||||||||||
Intercompany payable | — | — | 320,522 | (320,522 | ) | — | ||||||||||||||
Shareholders’ equity (deficiency) | 356,526 | (328,807 | ) | 758,594 | (429,787 | ) | 356,526 | |||||||||||||
$ | 357,234 | $ | 651,499 | $ | 2,551,521 | $ | (799,385 | ) | $ | 2,760,869 | ||||||||||
Six Months Ended | ||||||||||||||||||||
September 30, 2012 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
STATEMENT OF OPERATIONS | ||||||||||||||||||||
Revenues | $ | — | $ | 7,660 | $ | 1,171,128 | $ | — | $ | 1,178,788 | ||||||||||
EXPENSES: | ||||||||||||||||||||
Direct operating | — | 1,166 | 567,882 | — | 569,048 | |||||||||||||||
Distribution and marketing | (1 | ) | 1,084 | 414,068 | — | 415,151 | ||||||||||||||
General and administration | 902 | 57,149 | 38,577 | (254 | ) | 96,374 | ||||||||||||||
Depreciation and amortization | — | 905 | 3,315 | — | 4,220 | |||||||||||||||
Total expenses | 901 | 60,304 | 1,023,842 | (254 | ) | 1,084,793 | ||||||||||||||
OPERATING INCOME (LOSS) | (901 | ) | (52,644 | ) | 147,286 | 254 | 93,995 | |||||||||||||
Other expenses (income): | ||||||||||||||||||||
Interest expense | — | 35,184 | 16,091 | (500 | ) | 50,775 | ||||||||||||||
Interest and other income | (6 | ) | (1,735 | ) | (738 | ) | 500 | (1,979 | ) | |||||||||||
Loss on extinguishment of debt | — | 633 | 8,526 | — | 9,159 | |||||||||||||||
Total other expenses (income) | (6 | ) | 34,082 | 23,879 | — | 57,955 | ||||||||||||||
INCOME (LOSS) BEFORE EQUITY INTERESTS AND INCOME TAXES | (895 | ) | (86,726 | ) | 123,407 | 254 | 36,040 | |||||||||||||
Equity interests income (loss) | 32,224 | 118,254 | 4,006 | (152,874 | ) | 1,610 | ||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 31,329 | 31,528 | 127,413 | (152,620 | ) | 37,650 | ||||||||||||||
Income tax provision (benefit) | — | 2,392 | 3,929 | — | 6,321 | |||||||||||||||
NET INCOME (LOSS) | 31,329 | 29,136 | 123,484 | (152,620 | ) | 31,329 | ||||||||||||||
Foreign currency translation adjustments | 1,061 | 2,358 | 460 | (2,801 | ) | 1,078 | ||||||||||||||
Net unrealized gain on foreign exchange contracts | — | — | (17 | ) | — | (17 | ) | |||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 32,390 | $ | 31,494 | $ | 123,927 | $ | (155,421 | ) | $ | 32,390 | |||||||||
Six Months Ended | ||||||||||||||||||||
September 30, 2012 | ||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | ||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | ||||||||||||||||
Corp. | Inc. | |||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | 4,433 | $ | (136,699 | ) | $ | 274,401 | $ | — | $ | 142,135 | |||||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||
Repayment of loans receivable | — | — | 4,274 | — | 4,274 | |||||||||||||||
Purchases of property and equipment | — | (932 | ) | (44 | ) | — | (976 | ) | ||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | — | (932 | ) | 4,230 | — | 3,298 | ||||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||
Senior revolving credit facility - borrowings, net of deferred financing costs | — | 666,226 | — | — | 666,226 | |||||||||||||||
Senior revolving credit facility - repayments | — | (512,450 | ) | — | — | (512,450 | ) | |||||||||||||
Summit Term Loan - repayments | — | — | (185,504 | ) | — | (185,504 | ) | |||||||||||||
Convertible senior subordinated notes - repurchases | — | (7,639 | ) | — | — | (7,639 | ) | |||||||||||||
Production loans - borrowings | — | — | 112,845 | — | 112,845 | |||||||||||||||
Production loans - repayments | — | — | (221,985 | ) | — | (221,985 | ) | |||||||||||||
Change in restricted cash collateral associated with financing activities | — | — | — | — | — | |||||||||||||||
Exercise of stock options | 52 | — | — | — | 52 | |||||||||||||||
Tax withholding required on equity awards | (4,005 | ) | — | — | — | (4,005 | ) | |||||||||||||
Other financing obligations - repayments | — | — | (3,710 | ) | — | (3,710 | ) | |||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | (3,953 | ) | 146,137 | (298,354 | ) | — | (156,170 | ) | ||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 480 | 8,506 | (19,723 | ) | — | (10,737 | ) | |||||||||||||
FOREIGN EXCHANGE EFFECTS ON CASH | (5 | ) | — | 843 | — | 838 | ||||||||||||||
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD | 561 | 477 | 63,260 | — | 64,298 | |||||||||||||||
CASH AND CASH EQUIVALENTS — END OF PERIOD | $ | 1,036 | $ | 8,983 | $ | 44,380 | $ | — | $ | 54,399 | ||||||||||
Supplementary_Cash_Flow_Statem
Supplementary Cash Flow Statement Information | 6 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Supplementary Cash Flow Statement Information | ' | |||||||
Supplementary Cash Flow Statement Information | ||||||||
The supplemental schedule of non-cash investing and financing activities is presented below: | ||||||||
Six Months Ended | Six Months Ended | |||||||
September 30, | September 30, | |||||||
2013 | 2012 | |||||||
(Amounts in thousands) | ||||||||
Non-cash financing activities: | ||||||||
Principal amount of February 2005 3.625% Notes converted into 1,107,950 common shares | $ | — | $ | 15,825 | ||||
Principal amount of April 2009 3.625% Notes converted into 122,060 common shares | — | 2,072 | ||||||
Principal amount of January 2012 4.00% Notes converted into 299,999 common shares | 3,150 | — | ||||||
$ | 3,150 | $ | 17,897 | |||||
There were no non-cash investing activities for the six months ended September 30, 2013 and 2012. |
Net_Income_Per_Share_Policies
Net Income Per Share (Policies) | 6 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Net Income Per Share | ' |
Diluted net income per common share reflects the potential dilutive effect, if any, of the conversion of the October 2004 2.9375% Notes, the February 2005 3.625% Notes, the April 2009 3.625% Notes, the January 2012 4.00% Notes, and the April 2013 1.25% Notes under the "if converted" method. Diluted net income per common share also reflects share purchase options, including equity-settled SARs, and restricted share units using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. | |
Basic net income per share is calculated based on the weighted average common shares outstanding for the period. |
Investment_In_Films_And_Televi1
Investment In Films And Television Programs (Tables) | 6 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Investment In Films And Television Programs [Abstract] | ' | ||||||||||||||
Investment In Films And Television Programs | ' | ||||||||||||||
September 30, | March 31, | ||||||||||||||
2013 | 2013 | ||||||||||||||
(Amounts in thousands) | |||||||||||||||
Motion Picture Segment - Theatrical and Non-Theatrical Films | |||||||||||||||
Released, net of accumulated amortization | $ | 477,118 | $ | 501,893 | |||||||||||
Acquired libraries, net of accumulated amortization | 18,588 | 22,408 | |||||||||||||
Completed and not released | 64,818 | 50,519 | |||||||||||||
In progress | 325,240 | 366,587 | |||||||||||||
In development | 29,206 | 25,094 | |||||||||||||
Product inventory | 43,592 | 36,299 | |||||||||||||
958,562 | 1,002,800 | ||||||||||||||
Television Segment - Direct-to-Television Programs | |||||||||||||||
Released, net of accumulated amortization | 168,749 | 136,727 | |||||||||||||
In progress | 78,047 | 100,585 | |||||||||||||
In development | 2,881 | 3,963 | |||||||||||||
249,677 | 241,275 | ||||||||||||||
$ | 1,208,239 | $ | 1,244,075 | ||||||||||||
Schedule of Acquired Libraries Unamortized Costs | ' | ||||||||||||||
The following table sets forth acquired libraries that represent titles released three years prior to the date of acquisition. These libraries are being amortized over their expected revenue stream from the acquisition date over a period up to 20 years: | |||||||||||||||
Total | Remaining | Unamortized Costs | |||||||||||||
Amortization | Amortization | ||||||||||||||
Acquired Library | Acquisition Date | Period | Period | September 30, 2013 | March 31, | ||||||||||
2013 | |||||||||||||||
(In years) | (Amounts in thousands) | ||||||||||||||
Trimark Holdings | October 2000 | 20 | 0 | $ | — | $ | 345 | ||||||||
Artisan Entertainment | December 2003 | 20 | 10.25 | 13,268 | 15,686 | ||||||||||
Lionsgate UK | Oct-05 | 20 | 12 | 150 | 233 | ||||||||||
Summit Entertainment | Jan-12 | 20 | 18.25 | 5,170 | 6,144 | ||||||||||
Total acquired libraries | $ | 18,588 | $ | 22,408 | |||||||||||
Equity_Method_Investments_Tabl
Equity Method Investments (Tables) | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | |||||||||||||||
Carrying Amount Of Significant Equity Method Investments | ' | |||||||||||||||
The carrying amount of significant equity method investments at September 30, 2013 and March 31, 2013 were as follows: | ||||||||||||||||
September 30, | ||||||||||||||||
2013 | ||||||||||||||||
Equity Method Investee | Ownership | September 30, | March 31, | |||||||||||||
Percentage | 2013 | 2013 | ||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Horror Entertainment, LLC (“FEARnet”) | 34.50% | $ | 3,672 | $ | 3,343 | |||||||||||
NextPoint, Inc. (“Break Media”) | 42.00% | 1,757 | 4,630 | |||||||||||||
Roadside Attractions, LLC (“Roadside Attractions”) | 43.00% | 3,466 | 3,372 | |||||||||||||
Studio 3 Partners, LLC (“EPIX”) | 31.20% | 68,302 | 66,697 | |||||||||||||
TV Guide Network ("TVGN") | 50.00% | 87,465 | 91,408 | |||||||||||||
$ | 164,662 | $ | 169,450 | |||||||||||||
Equity Method Investee, Income (Loss) | ' | |||||||||||||||
Equity interests in equity method investments for the three and six months ended September 30, 2013, and 2012 were as follows (income (loss)): | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
Equity Method Investee | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
FEARnet | $ | 187 | $ | 2 | $ | 329 | $ | 54 | ||||||||
Break Media | (1,918 | ) | (828 | ) | (3,623 | ) | (2,483 | ) | ||||||||
Roadside Attractions | 159 | 203 | 94 | 87 | ||||||||||||
EPIX | 8,881 | 5,525 | 15,622 | 12,112 | ||||||||||||
TVGN | (807 | ) | (3,147 | ) | 2,057 | (8,160 | ) | |||||||||
$ | 6,502 | $ | 1,755 | $ | 14,479 | $ | 1,610 | |||||||||
Studio 3 Partners, LLC (EPIX) [Member] | ' | |||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | |||||||||||||||
Summarized Balance Sheet | ' | |||||||||||||||
The following table presents summarized balance sheet data as of September 30, 2013 and March 31, 2013 for EPIX: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Current assets | $ | 169,637 | $ | 213,508 | ||||||||||||
Non-current assets | $ | 234,151 | $ | 208,620 | ||||||||||||
Current liabilities | $ | 131,530 | $ | 144,897 | ||||||||||||
Non-current liabilities | $ | 6,759 | $ | 6,574 | ||||||||||||
Summarized Statement Of Operations | ' | |||||||||||||||
The following table presents the summarized statement of operations for the three and six months ended September 30, 2013 and 2012 for EPIX and a reconciliation of the net income reported by EPIX to equity interest income recorded by the Company: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenues | $ | 87,033 | $ | 82,842 | $ | 172,230 | $ | 170,606 | ||||||||
Expenses: | ||||||||||||||||
Operating expenses | 59,144 | 62,959 | 121,286 | 123,692 | ||||||||||||
Selling, general and administrative expenses | 5,633 | 6,498 | 11,263 | 12,241 | ||||||||||||
Operating income | 22,256 | 13,385 | 39,681 | 34,673 | ||||||||||||
Interest and other income (expense) | (268 | ) | — | 162 | — | |||||||||||
Net income | $ | 21,988 | $ | 13,385 | $ | 39,843 | $ | 34,673 | ||||||||
Reconciliation of net income reported by EPIX to equity interest income: | ||||||||||||||||
Net income reported by EPIX | $ | 21,988 | $ | 13,385 | $ | 39,843 | $ | 34,673 | ||||||||
Ownership interest in EPIX | 31.15 | % | 31.15 | % | 31.15 | % | 31.15 | % | ||||||||
The Company's share of net income | 6,849 | 4,169 | 12,411 | 10,801 | ||||||||||||
Eliminations of the Company’s share of profits on sales to EPIX (1) | (2,099 | ) | (681 | ) | (5,620 | ) | (2,856 | ) | ||||||||
Realization of the Company’s share of profits on sales to EPIX (2) | 4,131 | 2,037 | 8,831 | 4,167 | ||||||||||||
Total equity interest income recorded | $ | 8,881 | $ | 5,525 | $ | 15,622 | $ | 12,112 | ||||||||
__________________ | ||||||||||||||||
-1 | Represents the elimination of the gross profit recognized by the Company on sales to EPIX in proportion to the Company's ownership interest in EPIX. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of EPIX. The table above in the Transactions with EPIX section shows the calculation of the profit eliminated. | |||||||||||||||
-2 | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by EPIX. EPIX initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on EPIX's books is amortized. The profit amount realized is calculated by multiplying the percentage of the EPIX inventory amortized in the period reported by EPIX, by the amount of profit initially eliminated, on a title by title basis. | |||||||||||||||
Intercompany Revenues and Gross Profit Loss and Calculation of Profit Loss Eliminated | ' | |||||||||||||||
The table below sets forth the revenues and gross profits recognized by the Company and the calculation of the amounts eliminated in the equity interest line item on the statement of operations: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenue recognized on sales to EPIX | $ | 8,329 | $ | 6,256 | $ | 23,133 | $ | 22,772 | ||||||||
Gross profit on sales to EPIX | $ | 6,738 | $ | 2,185 | $ | 18,042 | $ | 9,170 | ||||||||
Ownership interest in EPIX | 31.15 | % | 31.15 | % | 31.15 | % | 31.15 | % | ||||||||
Elimination of the Company's share of profits on sales to EPIX | $ | 2,099 | $ | 681 | $ | 5,620 | $ | 2,856 | ||||||||
TV Guide Network (TVGN) [Member] | ' | |||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | |||||||||||||||
Summarized Balance Sheet | ' | |||||||||||||||
The following table presents summarized balance sheet data as of September 30, 2013 and March 31, 2013 for TVGN: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Current assets | $ | 29,212 | $ | 29,172 | ||||||||||||
Non-current assets | $ | 199,204 | $ | 211,922 | ||||||||||||
Current liabilities | $ | 30,715 | $ | 30,267 | ||||||||||||
Non-current liabilities | $ | 19,688 | $ | 24,818 | ||||||||||||
Redeemable preferred stock | $ | 292,513 | $ | 267,362 | ||||||||||||
Summarized Statement Of Operations | ' | |||||||||||||||
The following table presents the summarized statement of operations for the three and six months ended September 30, 2013 and 2012 for TVGN and a reconciliation of the net loss reported by TVGN to equity interest income (loss) recorded by the Company: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenues | $ | 18,173 | $ | 16,490 | $ | 34,965 | $ | 35,105 | ||||||||
Expenses: | ||||||||||||||||
Cost of services | 6,757 | 10,399 | 14,003 | 23,318 | ||||||||||||
Selling, marketing, and general and administration | 10,749 | 8,734 | 20,477 | 20,412 | ||||||||||||
Depreciation and amortization | 1,986 | 2,093 | 3,994 | 4,276 | ||||||||||||
Operating loss | (1,319 | ) | (4,736 | ) | (3,509 | ) | (12,901 | ) | ||||||||
Other income | (14 | ) | — | (1,390 | ) | — | ||||||||||
Interest expense, net | 335 | 431 | 682 | 873 | ||||||||||||
Accretion of redeemable preferred stock units (1) | 9,843 | 8,368 | 19,151 | 16,452 | ||||||||||||
Total interest expense, net | 10,164 | 8,799 | 18,443 | 17,325 | ||||||||||||
Loss from continuing operations | $ | (11,483 | ) | $ | (13,535 | ) | $ | (21,952 | ) | $ | (30,226 | ) | ||||
Loss from discontinued operations (5) | — | (1,290 | ) | (1,114 | ) | (2,684 | ) | |||||||||
Net loss | $ | (11,483 | ) | $ | (14,825 | ) | $ | (23,066 | ) | $ | (32,910 | ) | ||||
Reconciliation of net loss reported by TVGN to equity interest income (loss): | ||||||||||||||||
Net loss reported by TVGN | $ | (11,483 | ) | $ | (14,825 | ) | $ | (23,066 | ) | $ | (32,910 | ) | ||||
Ownership interest in TVGN (2) | 50 | % | 51 | % | 50 | % | 51 | % | ||||||||
The Company's share of net loss | (5,742 | ) | (7,561 | ) | (11,533 | ) | (16,784 | ) | ||||||||
Accretion of dividend and interest income on redeemable preferred stock units (1) | 4,923 | 4,268 | 9,576 | 8,390 | ||||||||||||
Eliminations of the Company’s share of profit on sales to TVGN (3) | — | — | — | (375 | ) | |||||||||||
Realization of the Company’s share of profits on sales to TVGN (4) | 12 | 146 | 54 | 609 | ||||||||||||
Gain on sale of the Company's 50% share of TVGuide.com (5) | — | — | 3,960 | — | ||||||||||||
Total equity interest income (loss) recorded | $ | (807 | ) | $ | (3,147 | ) | $ | 2,057 | $ | (8,160 | ) | |||||
___________________ | ||||||||||||||||
-1 | Accretion of mandatorily redeemable preferred stock units represents TVGN’s 10% dividend and the amortization of discount on its mandatorily redeemable preferred stock units held by the Company and the other interest holder. The Company recorded 51% of this expense as income from the accretion of dividend and discount on mandatorily redeemable preferred stock units through March 26, 2013 and 50% thereafter within equity interest income (loss). | |||||||||||||||
-2 | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. | |||||||||||||||
-3 | Represents the elimination of the gross profit recognized by the Company on sales to TVGN in proportion to the Company's ownership interest in TVGN. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of TVGN. The table above in the Transactions with TVGN section shows the calculation of the profit eliminated. | |||||||||||||||
-4 | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by TVGN. TVGN initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on TVGN's books is amortized. The profit amount realized is calculated by multiplying the percentage of the TVGN inventory amortized in the period reported by TVGN by the amount of profit initially eliminated, on a title by title basis. | |||||||||||||||
-5 | On May 31, 2013, as discussed above, the Company sold its 50% interest in TVGuide.com, a wholly-owned subsidiary of TVGN. As a result of this transaction, the Company recorded a gain in the six months ended September 30, 2013 of $4.0 million as reflected in the table above, and presented the revenues and expenses of TVGuide.com prior to the transaction for all periods presented, net within the discontinued operations line item. | |||||||||||||||
Intercompany Revenues and Gross Profit Loss and Calculation of Profit Loss Eliminated | ' | |||||||||||||||
The table below sets forth the revenues and gross profits recognized by Lionsgate and the calculation of the amounts eliminated in the equity interest line item on the statement of operations for the six months ended September 30, 2012. There were no revenues or gross profits recognized by Lionsgate for the three and six months ended September 30, 2013 or for the three months ended September 30, 2012. | ||||||||||||||||
Six Months Ended | ||||||||||||||||
September 30, | ||||||||||||||||
2012 | ||||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Revenue recognized on sales to TVGN | $ | 2,925 | ||||||||||||||
Gross profit on sales to TVGN | $ | 735 | ||||||||||||||
Ownership interest in TVGN | 51 | % | ||||||||||||||
Elimination of the Company's share of profit on sales to TVGN (1) | $ | 375 | ||||||||||||||
___________________ | ||||||||||||||||
-1 | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. The elimination of the Company's share of profit on sales to TVGN for the six months ended September 30, 2012 was calculated using 51%. |
Other_Assets_Tables
Other Assets (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Other Assets, Unclassified [Abstract] | ' | |||||||||||||||||||||||||||
Other Assets | ' | |||||||||||||||||||||||||||
The composition of the Company’s other assets is as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
September 30, | March 31, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Deferred financing costs, net of accumulated amortization | $ | 38,287 | $ | 33,060 | ||||||||||||||||||||||||
Loans receivable | 21,398 | 22,916 | ||||||||||||||||||||||||||
Prepaid expenses and other | 15,937 | 9,916 | ||||||||||||||||||||||||||
Finite-lived intangible assets | 4,863 | 6,727 | ||||||||||||||||||||||||||
$ | 80,485 | $ | 72,619 | |||||||||||||||||||||||||
Loans Receivable | ' | |||||||||||||||||||||||||||
The following table sets forth the Company’s loans receivable at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
Interest Rate | September 30, | March 31, | ||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Third-party producer | 3.00% | $ | 1,691 | $ | 4,658 | |||||||||||||||||||||||
Break Media | 5.25% - 20.0% | 19,707 | 18,258 | |||||||||||||||||||||||||
$ | 21,398 | $ | 22,916 | |||||||||||||||||||||||||
Finite-Lived Intangible Assets | ' | |||||||||||||||||||||||||||
Finite-lived intangibles consist primarily of sales agency relationships and trademarks. The composition of the Company's finite-lived intangible assets and the associated accumulated amortization is as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||
Weighted Average Remaining Life | Range of Remaining Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||||
(in years) | (Amounts in thousands) | |||||||||||||||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||||||||||||||
Trademarks | 4 | 4 | $ | 8,200 | $ | 5,237 | $ | 2,963 | $ | 8,200 | $ | 4,073 | $ | 4,127 | ||||||||||||||
Sales agency relationships | 4 | 4 | 6,200 | 4,300 | 1,900 | 6,200 | 3,600 | 2,600 | ||||||||||||||||||||
$ | 14,400 | $ | 9,537 | $ | 4,863 | $ | 14,400 | $ | 7,673 | $ | 6,727 | |||||||||||||||||
Corporate_Debt_Tables
Corporate Debt (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Long-term Debt and Capital Lease Obligations [Abstract] | ' | |||||||||||||||||||||||||||||
Carrying Values of Corporate Debt, Excluding Film Obligations and Production Loans | ' | |||||||||||||||||||||||||||||
The total carrying values of corporate debt of the Company, excluding film obligations and production loans, were as follows as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior revolving credit facility | $ | 285,474 | $ | 338,474 | ||||||||||||||||||||||||||
Senior secured second-priority notes | ||||||||||||||||||||||||||||||
5.25% Senior Notes | 225,000 | — | ||||||||||||||||||||||||||||
10.25% Senior Notes | — | 432,277 | ||||||||||||||||||||||||||||
July 2013 Term Loan | 222,574 | — | ||||||||||||||||||||||||||||
Convertible senior subordinated notes | 148,498 | 87,167 | ||||||||||||||||||||||||||||
$ | 881,546 | $ | 857,918 | |||||||||||||||||||||||||||
Future Annual Contractual Principal Payment Commitments Under Corporate Debt | ' | |||||||||||||||||||||||||||||
The following table sets forth future annual contractual principal payment commitments of corporate debt as of September 30, 2013: | ||||||||||||||||||||||||||||||
Maturity Date or | Year Ended March 31, | |||||||||||||||||||||||||||||
Debt Type | Next Holder Redemption Date (1) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior revolving credit facility | Sep-17 | $ | — | $ | — | $ | — | $ | — | $ | 285,474 | $ | — | $ | 285,474 | |||||||||||||||
5.25% Senior Notes | Aug-18 | — | — | — | — | — | 225,000 | 225,000 | ||||||||||||||||||||||
July 2013 Term Loan | Jul-20 | — | — | — | — | — | 225,000 | 225,000 | ||||||||||||||||||||||
Principal amounts of convertible senior subordinated notes: | ||||||||||||||||||||||||||||||
October 2004 2.9375% Notes (conversion price of $11.50 per share) | October 2014 | — | 115 | — | — | — | — | 115 | ||||||||||||||||||||||
April 2009 3.625% Notes (conversion price of $8.25 per share) | Mar-15 | — | 64,501 | — | — | — | — | 64,501 | ||||||||||||||||||||||
January 2012 4.00% Notes (conversion price of $10.50 per share) | Jan-17 | — | — | — | 41,850 | — | — | 41,850 | ||||||||||||||||||||||
April 2013 1.25% Notes (conversion price of $30.00 per share) | Apr-18 | — | — | — | — | — | 60,000 | 60,000 | ||||||||||||||||||||||
$ | — | $ | 64,616 | $ | — | $ | 41,850 | $ | 285,474 | $ | 510,000 | 901,940 | ||||||||||||||||||
Less aggregate unamortized (discount) premium, net | (20,394 | ) | ||||||||||||||||||||||||||||
$ | 881,546 | |||||||||||||||||||||||||||||
-1 | The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below. | |||||||||||||||||||||||||||||
Outstanding Amount of Senior Secured Second-Priority Notes | ' | |||||||||||||||||||||||||||||
The following table sets forth the senior secured second-priority notes outstanding at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
30-Sep-13 | 31-Mar-13 | |||||||||||||||||||||||||||||
Principal | Unamortized | Net Carrying | Principal | Unamortized | Net Carrying | |||||||||||||||||||||||||
Aggregate Premium/ (Discount), Net | Amount | Aggregate Premium/ (Discount), Net | Amount | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Senior Secured Second-Priority Notes | ||||||||||||||||||||||||||||||
5.25% Senior Notes | $ | 225,000 | $ | — | $ | 225,000 | $ | — | $ | — | $ | — | ||||||||||||||||||
10.25% Senior Notes (1) | — | — | — | 436,000 | (3,723 | ) | 432,277 | |||||||||||||||||||||||
$ | 225,000 | $ | — | $ | 225,000 | $ | 436,000 | $ | (3,723 | ) | $ | 432,277 | ||||||||||||||||||
_________________ | ||||||||||||||||||||||||||||||
-1 | On July 19, 2013, the Company called the 10.25% Senior Notes for redemption, as discussed below. | |||||||||||||||||||||||||||||
Term Loan, Outstanding Amount | ' | |||||||||||||||||||||||||||||
The outstanding amount of the July 2013 Term Loan is set forth in the table below: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Principal amount | $ | 225,000 | ||||||||||||||||||||||||||||
Unamortized discount | (2,426 | ) | ||||||||||||||||||||||||||||
Net carrying amount | $ | 222,574 | ||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes Outstanding | ' | |||||||||||||||||||||||||||||
The following table sets forth the convertible senior subordinated notes outstanding at September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||||||||
Principal | Unamortized | Net Carrying | Principal | Unamortized | Net Carrying | |||||||||||||||||||||||||
Discount | Amount | Discount | Amount | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes | ||||||||||||||||||||||||||||||
October 2004 2.9375% Notes (conversion price of $11.50 per share) (1) | $ | 115 | $ | — | $ | 115 | $ | 348 | $ | — | $ | 348 | ||||||||||||||||||
April 2009 3.625% Notes (conversion price of $8.25 per share) (1) | 64,501 | (11,292 | ) | 53,209 | 64,505 | (14,598 | ) | 49,907 | ||||||||||||||||||||||
January 2012 4.00% Notes (conversion price of $10.50 per share) (1) | 41,850 | (6,676 | ) | 35,174 | 45,000 | (8,088 | ) | 36,912 | ||||||||||||||||||||||
April 2013 1.25% Notes (conversion price of $30.00 per share) (2) | 60,000 | — | 60,000 | — | — | — | ||||||||||||||||||||||||
$ | 166,466 | $ | (17,968 | ) | $ | 148,498 | $ | 109,853 | $ | (22,686 | ) | $ | 87,167 | |||||||||||||||||
________________ | ||||||||||||||||||||||||||||||
-1 | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | |||||||||||||||||||||||||||||
-2 | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. | |||||||||||||||||||||||||||||
Interest Expense on Convertible Senior Subordinated Notes | ' | |||||||||||||||||||||||||||||
The effective interest rate on the liability component and the amount of interest expense, which includes both the contractual interest coupon and amortization of the discount on the liability component, for the three and six months ended September 30, 2013 and 2012 are presented below. | ||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||||
October 2004 2.9375% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (9.65%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | $ | — | $ | — | $ | 5 | $ | 5 | ||||||||||||||||||||||
— | — | 5 | 5 | |||||||||||||||||||||||||||
February 2005 3.625% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (10.03%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | — | 80 | — | 328 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | — | — | — | 6 | ||||||||||||||||||||||||||
— | 80 | — | 334 | |||||||||||||||||||||||||||
April 2009 3.625% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (17.26%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 579 | 604 | 1,164 | 1,207 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 1,691 | 1,470 | 3,327 | 2,868 | ||||||||||||||||||||||||||
2,270 | 2,074 | 4,491 | 4,075 | |||||||||||||||||||||||||||
January 2012 4.00% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Effective interest rate of liability component (9.56%) | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 427 | 450 | 877 | 900 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 450 | 429 | 910 | 849 | ||||||||||||||||||||||||||
877 | 879 | 1,787 | 1,749 | |||||||||||||||||||||||||||
April 2013 1.25% Convertible Senior Subordinated Notes: | ||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||
Contractual interest coupon | 188 | — | 344 | — | ||||||||||||||||||||||||||
188 | — | 344 | — | |||||||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||||
Contractual interest coupon | 1,194 | 1,134 | 2,390 | 2,440 | ||||||||||||||||||||||||||
Amortization of discount on liability component and debt issuance costs | 2,141 | 1,899 | 4,237 | 3,723 | ||||||||||||||||||||||||||
$ | 3,335 | $ | 3,033 | $ | 6,627 | $ | 6,163 | |||||||||||||||||||||||
Film_Obligations_and_Productio1
Film Obligations and Production Loans (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Film Obligations And Production Loans [Abstract] | ' | |||||||||||||||||||||||||||
Films Obligations And Production Loans | ' | |||||||||||||||||||||||||||
September 30, | March 31, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Film obligations | $ | 66,491 | $ | 99,678 | ||||||||||||||||||||||||
Production loans | ||||||||||||||||||||||||||||
Individual production loans | 377,670 | 404,341 | ||||||||||||||||||||||||||
Pennsylvania Regional Center production loans | — | 65,000 | ||||||||||||||||||||||||||
Total film obligations and production loans | $ | 444,161 | $ | 569,019 | ||||||||||||||||||||||||
Future Annual Repayment of Film Obligations and Production Loans | ' | |||||||||||||||||||||||||||
The following table sets forth future annual repayment of film obligations and production loans as of September 30, 2013: | ||||||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||||||
March 31, | Year Ended March 31, | |||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||||||
Film obligations | $ | 17,778 | $ | 22,020 | $ | 16,680 | $ | 6,000 | $ | 6,000 | $ | 1,000 | $ | 69,478 | ||||||||||||||
Individual production loans | 219,728 | 137,010 | 20,932 | — | — | — | 377,670 | |||||||||||||||||||||
$ | 237,506 | $ | 159,030 | $ | 37,612 | $ | 6,000 | $ | 6,000 | $ | 1,000 | 447,148 | ||||||||||||||||
Less imputed interest on film obligations | (2,987 | ) | ||||||||||||||||||||||||||
$ | 444,161 | |||||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value of Investment in Mandatorily Redeemable Preferred Stock and Outstanding Debt | ' | |||||||||||||||
The following table sets forth the carrying values and fair values of the Company’s investment in TVGN's mandatorily redeemable preferred stock units and outstanding debt at September 30, 2013 and March 31, 2013: | ||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Carrying | Fair Value | Carrying Value | Fair Value | |||||||||||||
Value | ||||||||||||||||
(Level 3) | (Level 3) | |||||||||||||||
Assets: | ||||||||||||||||
Investment in TVGN's Mandatorily Redeemable Preferred Stock Units | $ | 87,465 | $ | 152,372 | $ | 91,408 | $ | 140,312 | ||||||||
Carrying | Fair Value | Carrying Value | Fair Value | |||||||||||||
Value | ||||||||||||||||
(Level 2) | (Level 2) | |||||||||||||||
Liabilities: | ||||||||||||||||
October 2004 2.9375% Notes | $ | 115 | $ | 105 | $ | 348 | $ | 276 | ||||||||
April 2009 3.625% Notes | 53,209 | 63,719 | 49,907 | 66,939 | ||||||||||||
January 2012 4.00% Notes | 35,174 | 40,214 | 36,912 | 48,878 | ||||||||||||
April 2013 1.25% Notes | 60,000 | 48,101 | — | — | ||||||||||||
Individual production loans | 377,670 | 377,456 | 404,341 | 403,883 | ||||||||||||
Pennsylvania Regional Center production loans | — | — | 65,000 | 65,000 | ||||||||||||
Senior secured second-priority notes | 225,000 | 222,188 | 432,277 | 477,965 | ||||||||||||
July 2013 Term Loan | 222,574 | 227,813 | — | — | ||||||||||||
$ | 973,742 | $ | 979,596 | $ | 988,785 | $ | 1,062,941 | |||||||||
Direct_Operating_Expenses_Tabl
Direct Operating Expenses (Tables) | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Direct Operating Costs [Abstract] | ' | |||||||||||||||
Direct Operating Expenses | ' | |||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Amortization of films and television programs | $ | 157,136 | $ | 227,567 | $ | 376,500 | $ | 394,664 | ||||||||
Participations and residual expense | 105,300 | 94,560 | 191,126 | 173,163 | ||||||||||||
Other expenses: | ||||||||||||||||
Provision for doubtful accounts | 1,501 | 305 | 1,413 | (382 | ) | |||||||||||
Foreign exchange losses (gains) | (2,139 | ) | 798 | (796 | ) | 1,603 | ||||||||||
$ | 261,798 | $ | 323,230 | $ | 568,243 | $ | 569,048 | |||||||||
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Basic Net Income Per Common Share | ' | |||||||||||||||
Basic net income per share for the three and six months ended September 30, 2013 and 2012 is presented below: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands, except per share amounts) | ||||||||||||||||
Basic Net Income Per Common Share: | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 505 | $ | 75,529 | $ | 14,122 | $ | 31,329 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 | ||||||||||||
Basic Net Income Per Common Share | $ | 0 | $ | 0.56 | $ | 0.1 | $ | 0.23 | ||||||||
Diluted Net Income Per Common Share | ' | |||||||||||||||
Diluted net income per common share for the three and six months ended September 30, 2013 and 2012 is presented below: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands, except per share amounts) | ||||||||||||||||
Diluted Net Income Per Common Share: | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 505 | $ | 75,529 | $ | 14,122 | $ | 31,329 | ||||||||
Add: | ||||||||||||||||
Interest on convertible notes, net of tax | — | 2,828 | — | — | ||||||||||||
Numerator for Diluted Net Income Per Common Share | $ | 505 | $ | 78,357 | $ | 14,122 | $ | 31,329 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Conversion of notes | — | 12,613 | — | 30 | ||||||||||||
Share purchase options | 2,854 | 935 | 2,530 | 402 | ||||||||||||
Restricted share units | 680 | 758 | 669 | 363 | ||||||||||||
Adjusted weighted average common shares outstanding | 140,681 | 148,696 | 139,870 | 134,610 | ||||||||||||
Diluted Net Income Per Common Share | $ | 0 | $ | 0.53 | $ | 0.1 | $ | 0.23 | ||||||||
Anti-dilutive Shares Issuable | ' | |||||||||||||||
For the three and six months ended September 30, 2013 and 2012, the Company's outstanding common shares issuable presented below were excluded from diluted net income per common share because their inclusion would have had an anti-dilutive effect. | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Anti-dilutive shares issuable | ||||||||||||||||
Conversion of notes | 13,891 | — | 13,856 | 13,287 | ||||||||||||
Share purchase options | 2,206 | 634 | 1,990 | 514 | ||||||||||||
Restricted share units | 12 | 28 | 20 | 87 | ||||||||||||
Contingently issuable shares | 444 | 566 | 443 | 563 | ||||||||||||
Total weighted average anti-dilutive shares issuable excluded from Diluted Net Income Per Common Share | 16,553 | 1,228 | 16,309 | 14,451 | ||||||||||||
Capital_Stock_Tables
Capital Stock (Tables) | 6 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Equity and Share-based Compensation [Abstract] | ' | |||||||||||||||
Common Shares Reserved For Future Issuance | ' | |||||||||||||||
The table below outlines common shares reserved for future issuance: | ||||||||||||||||
September 30, | March 31, | |||||||||||||||
2013 | 2013 | |||||||||||||||
(Amounts in thousands) | ||||||||||||||||
Stock options outstanding, average exercise price $18.25 (March 31, 2013 - $13.72) | 8,552 | 6,421 | ||||||||||||||
Restricted share units — unvested | 2,069 | 2,077 | ||||||||||||||
Share purchase options and restricted share units available for future issuance | 4,479 | 12,341 | ||||||||||||||
Shares issuable upon conversion of October 2004 2.9375% Notes at conversion price of $11.50 per share | 10 | 30 | ||||||||||||||
Shares issuable upon conversion of April 2009 3.625% Notes at conversion price of $8.25 per share | 7,819 | 7,819 | ||||||||||||||
Shares issuable upon conversion of January 2012 4.00% Notes at conversion price of $10.50 per share | 3,986 | 4,286 | ||||||||||||||
Shares issuable upon conversion of April 2013 1.25% Notes at conversion price of $30.00 per share | 2,000 | — | ||||||||||||||
Shares reserved for future issuance | 28,915 | 32,974 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Share-Based Compensation Expense | ' | |||||||||||||||
The Company recognized the following share-based compensation expense during the three and six months ended September 30, 2013, and 2012: | ||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Compensation Expense: | ||||||||||||||||
Stock Options | $ | 5,971 | $ | 356 | $ | 9,738 | $ | 655 | ||||||||
Restricted Share Units and Other Share-based Compensation | 8,032 | 4,404 | 15,435 | 11,628 | ||||||||||||
Stock Appreciation Rights | 8,385 | 2,139 | 14,962 | 4,365 | ||||||||||||
Total share-based compensation expense | $ | 22,388 | $ | 6,899 | $ | 40,135 | $ | 16,648 | ||||||||
Tax impact (1) | (8,284 | ) | — | (14,850 | ) | — | ||||||||||
Reduction in net income | $ | 14,104 | $ | 6,899 | $ | 25,285 | $ | 16,648 | ||||||||
____________________________ | ||||||||||||||||
-1 | Represents the income tax benefit recognized in the statements of operations for share-based compensation arrangements. |
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segmented Information By Business Unit | ' | |||||||||||||||||||||||
Segmented information by business unit is as follows: | ||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Segment revenues | ||||||||||||||||||||||||
Motion Pictures | $ | 434,397 | $ | 607,972 | $ | 873,042 | $ | 1,014,506 | ||||||||||||||||
Television Production | 64,332 | 98,996 | 195,415 | 164,282 | ||||||||||||||||||||
$ | 498,729 | $ | 706,968 | $ | 1,068,457 | $ | 1,178,788 | |||||||||||||||||
Direct operating expenses | ||||||||||||||||||||||||
Motion Pictures | $ | 209,893 | $ | 243,325 | $ | 413,173 | $ | 437,007 | ||||||||||||||||
Television Production | 51,905 | 79,905 | 155,070 | 132,041 | ||||||||||||||||||||
$ | 261,798 | $ | 323,230 | $ | 568,243 | $ | 569,048 | |||||||||||||||||
Distribution and marketing | ||||||||||||||||||||||||
Motion Pictures | $ | 139,698 | $ | 229,134 | $ | 304,799 | $ | 402,035 | ||||||||||||||||
Television Production | 5,804 | 7,308 | 12,163 | 13,116 | ||||||||||||||||||||
$ | 145,502 | $ | 236,442 | $ | 316,962 | $ | 415,151 | |||||||||||||||||
Gross segment contribution before general and administration expenses | ||||||||||||||||||||||||
Motion Pictures | $ | 84,806 | $ | 135,513 | $ | 155,070 | $ | 175,464 | ||||||||||||||||
Television Production | 6,623 | 11,783 | 28,182 | 19,125 | ||||||||||||||||||||
$ | 91,429 | $ | 147,296 | $ | 183,252 | $ | 194,589 | |||||||||||||||||
General and administration | ||||||||||||||||||||||||
Motion Pictures | $ | 15,993 | $ | 15,105 | $ | 32,425 | $ | 31,950 | ||||||||||||||||
Television Production | 3,543 | 2,922 | 6,551 | 5,635 | ||||||||||||||||||||
$ | 19,536 | $ | 18,027 | $ | 38,976 | $ | 37,585 | |||||||||||||||||
Segment profit | ||||||||||||||||||||||||
Motion Pictures | $ | 68,813 | $ | 120,408 | $ | 122,645 | $ | 143,514 | ||||||||||||||||
Television Production | 3,080 | 8,861 | 21,631 | 13,490 | ||||||||||||||||||||
$ | 71,893 | $ | 129,269 | $ | 144,276 | $ | 157,004 | |||||||||||||||||
Acquisition of investment in films and television programs | ||||||||||||||||||||||||
Motion Pictures | $ | 97,371 | $ | 183,483 | $ | 219,610 | $ | 264,534 | ||||||||||||||||
Television Production | 79,992 | 78,632 | 118,686 | 158,586 | ||||||||||||||||||||
$ | 177,363 | $ | 262,115 | $ | 338,296 | $ | 423,120 | |||||||||||||||||
Reconciliation Of Total Segment Profit To The Company's Income (Loss) Before Income Taxes | ' | |||||||||||||||||||||||
The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: | ||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Company’s total segment profit | $ | 71,893 | $ | 129,269 | $ | 144,276 | $ | 157,004 | ||||||||||||||||
Less: | ||||||||||||||||||||||||
Shared services and corporate expenses (1) | (44,237 | ) | (26,003 | ) | (81,567 | ) | (58,789 | ) | ||||||||||||||||
Depreciation and amortization | (1,611 | ) | (2,115 | ) | (3,236 | ) | (4,220 | ) | ||||||||||||||||
Interest expense | (16,172 | ) | (23,285 | ) | (36,986 | ) | (50,775 | ) | ||||||||||||||||
Interest and other income | 1,483 | 1,029 | 2,979 | 1,979 | ||||||||||||||||||||
Loss on extinguishment of debt | (36,187 | ) | (1,000 | ) | (36,653 | ) | (9,159 | ) | ||||||||||||||||
Equity interests income | 6,502 | 1,755 | 14,479 | 1,610 | ||||||||||||||||||||
Income (loss) before income taxes | $ | (18,329 | ) | $ | 79,650 | $ | 3,292 | $ | 37,650 | |||||||||||||||
________________________ | ||||||||||||||||||||||||
-1 | The following table presents certain charges included in shared services and corporate expenses: | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Share-based compensation expense | $ | 22,388 | $ | 6,899 | $ | 40,135 | $ | 16,648 | ||||||||||||||||
Severance and transaction costs related to the | — | 300 | — | 2,027 | ||||||||||||||||||||
acquisition of Summit | ||||||||||||||||||||||||
Other shared services and corporate expenses | 21,849 | 18,804 | 41,432 | 40,114 | ||||||||||||||||||||
$ | 44,237 | $ | 26,003 | $ | 81,567 | $ | 58,789 | |||||||||||||||||
Reconciliation of Assets from Segment to Consolidated | ' | |||||||||||||||||||||||
The following table sets forth significant assets as broken down by segment and other unallocated assets as of September 30, 2013 and March 31, 2013: | ||||||||||||||||||||||||
September 30, 2013 | March 31, 2013 | |||||||||||||||||||||||
Motion | Television | Total | Motion | Television | Total | |||||||||||||||||||
Pictures | Production | Pictures | Production | |||||||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||||||
Significant assets by segment | ||||||||||||||||||||||||
Accounts receivable | $ | 460,949 | $ | 235,635 | $ | 696,584 | $ | 551,400 | $ | 235,750 | $ | 787,150 | ||||||||||||
Investment in films and television programs, net | 958,562 | 249,677 | 1,208,239 | 1,002,800 | 241,275 | 1,244,075 | ||||||||||||||||||
Goodwill | 294,367 | 28,961 | 323,328 | 294,367 | 28,961 | 323,328 | ||||||||||||||||||
$ | 1,713,878 | $ | 514,273 | $ | 2,228,151 | $ | 1,848,567 | $ | 505,986 | $ | 2,354,553 | |||||||||||||
Other unallocated assets (primarily cash, other assets, and equity method investments) | 423,724 | 406,316 | ||||||||||||||||||||||
Total assets | $ | 2,651,875 | $ | 2,760,869 | ||||||||||||||||||||
Consolidating_Financial_Inform1
Consolidating Financial Information - Convertible Senior Subordinated Notes (Tables) (Convertible Senior Subordinated Notes [Member]) | 0 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidating Financial Information [Line Items] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Financial Information - Balance Sheet | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of | As of | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2013 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corp. | Inc. | Corp. | Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Amounts in thousands) | (Amounts in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE SHEET | BALANCE SHEET | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 592 | $ | 36,834 | $ | 24,937 | $ | — | $ | 62,363 | Cash and cash equivalents | $ | 1,775 | $ | 35,331 | $ | 30,106 | $ | — | $ | 67,212 | |||||||||||||||||||||||||||||||||||||||
Restricted cash | — | 9,903 | 761 | — | 10,664 | Restricted cash | — | 8,122 | — | — | 8,122 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net | 655 | 5,017 | 781,478 | — | 787,150 | Accounts receivable, net | 696 | 3,524 | 692,364 | — | 696,584 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investment in films and television programs, net | 246 | 6,391 | 1,238,966 | (1,528 | ) | 1,244,075 | Investment in films and television programs, net | 243 | 6,394 | 1,200,153 | 1,449 | 1,208,239 | ||||||||||||||||||||||||||||||||||||||||||||||||
Property and equipment, net | — | 8,019 | 511 | — | 8,530 | Property and equipment, net | — | 10,146 | 440 | — | 10,586 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equity method investments | — | 8,005 | 162,262 | (817 | ) | 169,450 | Equity method investments | — | 5,226 | 159,436 | — | 164,662 | ||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | 10,173 | — | 313,155 | — | 323,328 | Goodwill | 10,173 | — | 313,155 | — | 323,328 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other assets | 49,195 | 56,544 | 15,879 | (48,999 | ) | 72,619 | Other assets | 4,269 | 74,070 | 8,717 | (6,571 | ) | 80,485 | |||||||||||||||||||||||||||||||||||||||||||||||
Deferred tax assets | — | 69,118 | 13,572 | — | 82,690 | Deferred tax assets | 12,929 | 66,176 | 13,552 | — | 92,657 | |||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary investments and advances | 296,373 | 451,668 | — | (748,041 | ) | — | Subsidiary investments and advances | 897,813 | 869,948 | 63,017 | (1,830,778 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 357,234 | $ | 651,499 | $ | 2,551,521 | $ | (799,385 | ) | $ | 2,760,869 | $ | 927,898 | $ | 1,078,937 | $ | 2,480,940 | $ | (1,835,900 | ) | $ | 2,651,875 | |||||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders’ Equity (Deficiency) | Liabilities and Shareholders’ Equity (Deficiency) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior revolving credit facility | $ | — | $ | 338,474 | $ | — | $ | — | $ | 338,474 | Senior revolving credit facility | $ | — | $ | 285,474 | $ | — | $ | — | $ | 285,474 | |||||||||||||||||||||||||||||||||||||||
Senior secured second-priority notes | — | 432,277 | — | — | 432,277 | Senior secured second-priority notes | 222,574 | — | — | — | 222,574 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | 449 | 104,078 | 209,258 | (165 | ) | 313,620 | July 2013 Term Loan | 225,000 | — | — | 225,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Participations and residuals | 186 | 3,411 | 406,077 | 89 | 409,763 | Accounts payable and accrued liabilities | 6,261 | 39,381 | 172,170 | (132 | ) | 217,680 | ||||||||||||||||||||||||||||||||||||||||||||||||
Film obligations and production loans | 73 | — | 568,946 | — | 569,019 | Participations and residuals | — | 3,408 | 409,931 | 29 | 413,368 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible senior subordinated notes | — | 87,167 | 49,000 | (49,000 | ) | 87,167 | Film obligations and production loans | — | — | 444,161 | — | 444,161 | ||||||||||||||||||||||||||||||||||||||||||||||||
Deferred revenue | — | 14,899 | 239,124 | — | 254,023 | Convertible senior subordinated notes | — | 148,498 | — | — | 148,498 | |||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany payable | — | — | 320,522 | (320,522 | ) | — | Deferred revenue | — | 13,080 | 255,987 | — | 269,067 | ||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ equity (deficiency) | 356,526 | (328,807 | ) | 758,594 | (429,787 | ) | 356,526 | Intercompany payable | 48,010 | 904,322 | 251,600 | (1,203,932 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 357,234 | $ | 651,499 | $ | 2,551,521 | $ | (799,385 | ) | $ | 2,760,869 | Shareholders’ equity (deficiency) | 426,053 | (315,226 | ) | 947,091 | (631,865 | ) | 426,053 | ||||||||||||||||||||||||||||||||||||||||||
$ | 927,898 | $ | 1,078,937 | $ | 2,480,940 | $ | (1,835,900 | ) | $ | 2,651,875 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Financial Information - Statement of Operations | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corp. | Inc. | Corp. | Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Amounts in thousands) | (Amounts in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATEMENT OF OPERATIONS | STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | 6,748 | $ | 15,078 | $ | 1,055,142 | $ | (8,511 | ) | $ | 1,068,457 | Revenues | $ | — | $ | 7,660 | $ | 1,171,128 | $ | — | $ | 1,178,788 | ||||||||||||||||||||||||||||||||||||||
EXPENSES: | EXPENSES: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct operating | (255 | ) | (1,524 | ) | 570,022 | — | 568,243 | Direct operating | — | 1,166 | 567,882 | — | 569,048 | |||||||||||||||||||||||||||||||||||||||||||||||
Distribution and marketing | — | 1,936 | 315,026 | — | 316,962 | Distribution and marketing | (1 | ) | 1,084 | 414,068 | — | 415,151 | ||||||||||||||||||||||||||||||||||||||||||||||||
General and administration | 805 | 79,986 | 40,057 | (305 | ) | 120,543 | General and administration | 902 | 57,149 | 38,577 | (254 | ) | 96,374 | |||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | — | 1,072 | 2,164 | — | 3,236 | Depreciation and amortization | — | 905 | 3,315 | — | 4,220 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total expenses | 550 | 81,470 | 927,269 | (305 | ) | 1,008,984 | Total expenses | 901 | 60,304 | 1,023,842 | (254 | ) | 1,084,793 | |||||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | 6,198 | (66,392 | ) | 127,873 | (8,206 | ) | 59,473 | OPERATING INCOME (LOSS) | (901 | ) | (52,644 | ) | 147,286 | 254 | 93,995 | |||||||||||||||||||||||||||||||||||||||||||||
Other expenses (income): | Other expenses (income): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | 5,340 | 37,191 | 2,454 | (7,999 | ) | 36,986 | Interest expense | — | 35,184 | 16,091 | (500 | ) | 50,775 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest and other income | (7,614 | ) | (2,161 | ) | (1,203 | ) | 7,999 | (2,979 | ) | Interest and other income | (6 | ) | (1,735 | ) | (738 | ) | 500 | (1,979 | ) | |||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 2,600 | 34,053 | — | — | 36,653 | Loss on extinguishment of debt | — | 633 | 8,526 | — | 9,159 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total other expenses (income) | 326 | 69,083 | 1,251 | — | 70,660 | Total other expenses (income) | (6 | ) | 34,082 | 23,879 | — | 57,955 | ||||||||||||||||||||||||||||||||||||||||||||||||
INCOME (LOSS) BEFORE EQUITY INTERESTS AND INCOME TAXES | 5,872 | (135,475 | ) | 126,622 | (8,206 | ) | (11,187 | ) | INCOME (LOSS) BEFORE EQUITY INTERESTS AND INCOME TAXES | (895 | ) | (86,726 | ) | 123,407 | 254 | 36,040 | ||||||||||||||||||||||||||||||||||||||||||||
Equity interests income (loss) | (4,672 | ) | 128,059 | 18,008 | (126,916 | ) | 14,479 | Equity interests income (loss) | 32,224 | 118,254 | 4,006 | (152,874 | ) | 1,610 | ||||||||||||||||||||||||||||||||||||||||||||||
INCOME (LOSS) BEFORE INCOME TAXES | 1,200 | (7,416 | ) | 144,630 | (135,122 | ) | 3,292 | INCOME (LOSS) BEFORE INCOME TAXES | 31,329 | 31,528 | 127,413 | (152,620 | ) | 37,650 | ||||||||||||||||||||||||||||||||||||||||||||||
Income tax provision (benefit) | (12,922 | ) | (2,744 | ) | 53,049 | (48,213 | ) | (10,830 | ) | Income tax provision (benefit) | — | 2,392 | 3,929 | — | 6,321 | |||||||||||||||||||||||||||||||||||||||||||||
NET INCOME (LOSS) | 14,122 | (4,672 | ) | 91,581 | (86,909 | ) | 14,122 | NET INCOME (LOSS) | 31,329 | 29,136 | 123,484 | (152,620 | ) | 31,329 | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | 2,931 | 18,247 | 11,974 | (29,565 | ) | 3,587 | Foreign currency translation adjustments | 1,061 | 2,358 | 460 | (2,801 | ) | 1,078 | |||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized loss on foreign exchange contracts | — | — | (656 | ) | — | (656 | ) | Net unrealized gain on foreign exchange contracts | — | — | (17 | ) | — | (17 | ) | |||||||||||||||||||||||||||||||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 17,053 | $ | 13,575 | $ | 102,899 | $ | (116,474 | ) | $ | 17,053 | COMPREHENSIVE INCOME (LOSS) | $ | 32,390 | $ | 31,494 | $ | 123,927 | $ | (155,421 | ) | $ | 32,390 | |||||||||||||||||||||||||||||||||||||
Consolidated Financial Information - Statement of Cash Flows | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | Lions Gate | Lions Gate | Non-guarantor | Consolidating | Lions Gate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | Entertainment | Entertainment | Subsidiaries | Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||
Corp. | Inc. | Corp. | Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Amounts in thousands) | (Amounts in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STATEMENT OF CASH FLOWS | STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | (439,477 | ) | $ | 466,030 | $ | 84,018 | $ | — | $ | 110,571 | NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | 4,433 | $ | (136,699 | ) | $ | 274,401 | $ | — | $ | 142,135 | |||||||||||||||||||||||||||||||||||||
INVESTING ACTIVITIES: | INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of a portion of equity method investee | — | — | 9,000 | — | 9,000 | Repayment of loans receivable | — | — | 4,274 | — | 4,274 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investment in equity method investees | — | (750 | ) | (3,000 | ) | — | (3,750 | ) | Purchases of property and equipment | — | (932 | ) | (44 | ) | — | (976 | ) | |||||||||||||||||||||||||||||||||||||||||||
Dividends from equity method investee in excess of earnings | 4,169 | 4,169 | NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | — | (932 | ) | 4,230 | — | 3,298 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of loans receivable | — | — | 3,000 | — | 3,000 | FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior revolving credit facility - borrowings, net of deferred financing costs | — | 666,226 | — | — | 666,226 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchases of property and equipment | — | (3,199 | ) | (196 | ) | — | (3,395 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior revolving credit facility - repayments | — | (512,450 | ) | — | — | (512,450 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | — | (3,949 | ) | 12,973 | — | 9,024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summit Term Loan - repayments | — | — | (185,504 | ) | — | (185,504 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior revolving credit facility - borrowings | — | 428,100 | — | — | 428,100 | Convertible senior subordinated notes - repurchases | — | (7,639 | ) | — | — | (7,639 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Senior revolving credit facility - repayments | — | (481,100 | ) | — | — | (481,100 | ) | Production loans - borrowings | — | — | 112,845 | — | 112,845 | |||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second-priority notes - borrowings, net of deferred financing costs | 224,593 | 224,593 | Production loans - repayments | — | — | (221,985 | ) | — | (221,985 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Senior secured second-priority notes - repurchases and redemptions | — | (470,584 | ) | — | — | (470,584 | ) | Change in restricted cash collateral associated with financing activities | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
July 2013 Term Loan - borrowings, net of deferred financing costs | 218,213 | 218,213 | Exercise of stock options | 52 | — | — | — | 52 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible senior subordinated notes - borrowings | — | 60,000 | — | — | 60,000 | Tax withholding required on equity awards | (4,005 | ) | — | — | — | (4,005 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Production loans - borrowings | — | — | 169,427 | — | 169,427 | Other financing obligations - repayments | — | — | (3,710 | ) | — | (3,710 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Production loans - repayments | — | — | (196,098 | ) | — | (196,098 | ) | NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | (3,953 | ) | 146,137 | (298,354 | ) | — | (156,170 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Pennsylvania Regional Center credit facility - repayments | (65,000 | ) | (65,000 | ) | NET CHANGE IN CASH AND CASH EQUIVALENTS | 480 | 8,506 | (19,723 | ) | — | (10,737 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | 9,120 | — | — | — | 9,120 | FOREIGN EXCHANGE EFFECTS ON CASH | (5 | ) | — | 843 | — | 838 | ||||||||||||||||||||||||||||||||||||||||||||||||
Tax withholding required on equity awards | (11,257 | ) | — | — | — | (11,257 | ) | CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD | 561 | 477 | 63,260 | — | 64,298 | |||||||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | 440,669 | (463,584 | ) | (91,671 | ) | — | (114,586 | ) | CASH AND CASH EQUIVALENTS — END OF PERIOD | $ | 1,036 | $ | 8,983 | $ | 44,380 | $ | — | $ | 54,399 | |||||||||||||||||||||||||||||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,192 | (1,503 | ) | 5,320 | — | 5,009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE EFFECTS ON CASH | (9 | ) | — | (151 | ) | — | (160 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD | 592 | 36,834 | 24,937 | — | 62,363 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS — END OF PERIOD | $ | 1,775 | $ | 35,331 | $ | 30,106 | $ | — | $ | 67,212 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Supplementary_Cash_Flow_Statem1
Supplementary Cash Flow Statement Information (Tables) | 6 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Supplemental Schedule of Non-Cash Investing and Financing Activities | ' | |||||||
Six Months Ended | Six Months Ended | |||||||
September 30, | September 30, | |||||||
2013 | 2012 | |||||||
(Amounts in thousands) | ||||||||
Non-cash financing activities: | ||||||||
Principal amount of February 2005 3.625% Notes converted into 1,107,950 common shares | $ | — | $ | 15,825 | ||||
Principal amount of April 2009 3.625% Notes converted into 122,060 common shares | — | 2,072 | ||||||
Principal amount of January 2012 4.00% Notes converted into 299,999 common shares | 3,150 | — | ||||||
$ | 3,150 | $ | 17,897 | |||||
Investment_In_Films_And_Televi2
Investment In Films And Television Programs (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2013 | |
Investment In Films And Television Programs [Abstract] | ' |
Percentage of unamortized film costs, one year | 45.00% |
Percentage of unamortized film costs, three years | 81.00% |
Investment_In_Films_And_Televi3
Investment In Films And Television Programs (Schedule of Investment In Films And Television Programs) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Acquired libraries, net of accumulated amortization | $18,588 | $22,408 |
Total investment in film and television programs | 1,208,239 | 1,244,075 |
Motion Picture Segment - Theatrical and Non-Theatrical Films [Member] | ' | ' |
Released, net of accumulated amortization | 477,118 | 501,893 |
Acquired libraries, net of accumulated amortization | 18,588 | 22,408 |
Completed and not released | 64,818 | 50,519 |
In progress | 325,240 | 366,587 |
In development | 29,206 | 25,094 |
Product inventory | 43,592 | 36,299 |
Total investment in film and television programs | 958,562 | 1,002,800 |
Television Segment - Direct-to-Television Programs [Member] | ' | ' |
Released, net of accumulated amortization | 168,749 | 136,727 |
In progress | 78,047 | 100,585 |
In development | 2,881 | 3,963 |
Total investment in film and television programs | $249,677 | $241,275 |
Investment_In_Films_And_Televi4
Investment In Films And Television Programs (Schedule Of Acquired Libraries) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 |
Total acquired libraries | $18,588 | $22,408 |
Trimark Holdings [Member] | ' | ' |
Total amortization period (in years) | '20 years | ' |
Remaining amortization period (in years) | '0 years | ' |
Total acquired libraries | 0 | 345 |
Artisan Entertainment [Member] | ' | ' |
Total amortization period (in years) | '20 years | ' |
Remaining amortization period (in years) | '10 years 3 months | ' |
Total acquired libraries | 13,268 | 15,686 |
Lionsgate UK [Member] | ' | ' |
Total amortization period (in years) | '20 years | ' |
Remaining amortization period (in years) | '12 years | ' |
Total acquired libraries | 150 | 233 |
Summit Entertainment, LLC [Member] | ' | ' |
Total amortization period (in years) | '20 years | ' |
Remaining amortization period (in years) | '18 years 3 months | ' |
Total acquired libraries | $5,170 | $6,144 |
Maximum [Member] | ' | ' |
Total amortization period (in years) | '20 years | ' |
Equity_Method_Investments_Narr
Equity Method Investments (Narrative) (Details) (USD $) | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2010 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 26, 2013 | Mar. 31, 2013 | Mar. 25, 2013 | 31-May-13 | Sep. 30, 2013 | |||||
NextPoint, Inc. (Break Media) [Member] | NextPoint, Inc. (Break Media) [Member] | Studio 3 Partners, LLC (EPIX) [Member] | Studio 3 Partners, LLC (EPIX) [Member] | Studio 3 Partners, LLC (EPIX) [Member] | Studio 3 Partners, LLC (EPIX) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TV Guide Network (TVGN) [Member] | TVGuide.com [Member] | Redeemable Preferred Stock [Member] | |||||||
Schedule of Long-term Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Investment in equity method investees in the current period | $3,750,000 | $0 | $0 | $800,000 | ' | ' | ' | ' | ' | $0 | ' | $3,000,000 | ' | ' | ' | ' | ' | ' | ||||
Investments in equity method investees | ' | ' | ' | ' | ' | ' | ' | 80,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Equity method investment dividends received | ' | ' | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other Equity Holders, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | 50.00% | ' | 49.00% | ' | ' | ' | ' | ||||
Equity method investment, ownership percentage | ' | ' | 42.00% | 42.00% | ' | 31.15% | 31.15% | ' | ' | 50.00% | [1] | 51.00% | [1] | 50.00% | [1] | 51.00% | [1] | 50.00% | ' | 51.00% | ' | ' |
Percentage sold of equity interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | 50.00% | ' | ||||
Gain (loss) on sale of a portion of equity method investee | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | [2] | $0 | [2] | $3,960,000 | [2] | $0 | [2] | ' | ($1,900,000) | ' | ' | ' |
Rate of dividend on preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ||||
Percent of accretion and amortization recognized as equity interest income | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ||||
Total accretion period to redemption date of mandatorily redeemable preferred stock units and dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ||||
[1] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. | |||||||||||||||||||||
[2] | On May 31, 2013, as discussed above, the Company sold its 50% interest in TVGuide.com, a wholly-owned subsidiary of TVGN. As a result of this transaction, the Company recorded a gain in the six months ended September 30, 2013 of $4.0 million as reflected in the table above, and presented the revenues and expenses of TVGuide.com prior to the transaction for all periods presented, net within the discontinued operations line item. |
Equity_Method_Investments_Carr
Equity Method Investments (Carrying Amount Of Significant Equity Method Investments) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 26, 2013 | Mar. 25, 2013 | Sep. 30, 2012 | ||
In Thousands, unless otherwise specified | |||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investments | $164,662 | $169,450 | ' | ' | ' | ||
Horror Entertainment, LLC (FEARnet) [Member] | ' | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investment, ownership percentage | 34.50% | ' | ' | ' | ' | ||
Equity method investments | 3,672 | 3,343 | ' | ' | ' | ||
NextPoint, Inc. (Break Media) [Member] | ' | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investment, ownership percentage | 42.00% | ' | ' | ' | ' | ||
Equity method investments | 1,757 | 4,630 | ' | ' | ' | ||
Roadside Attractions, LLC (Roadside Attractions) [Member] | ' | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investment, ownership percentage | 43.00% | ' | ' | ' | ' | ||
Equity method investments | 3,466 | 3,372 | ' | ' | ' | ||
Studio 3 Partners, LLC (EPIX) [Member] | ' | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investment, ownership percentage | 31.15% | ' | ' | ' | 31.15% | ||
Equity method investments | 68,302 | 66,697 | ' | ' | ' | ||
TV Guide Network (TVGN) [Member] | ' | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ||
Equity method investment, ownership percentage | 50.00% | [1] | ' | 50.00% | 51.00% | 51.00% | [1] |
Equity method investments | $87,465 | $91,408 | ' | ' | ' | ||
[1] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. |
Equity_Method_Investments_Equi
Equity Method Investments (Equity Method Investee, Income (Loss)) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | $6,502 | $1,755 | $14,479 | $1,610 |
Horror Entertainment, LLC (FEARnet) [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | 187 | 2 | 329 | 54 |
NextPoint, Inc. (Break Media) [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | -1,918 | -828 | -3,623 | -2,483 |
Roadside Attractions, LLC (Roadside Attractions) [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | 159 | 203 | 94 | 87 |
Studio 3 Partners, LLC (EPIX) [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | 8,881 | 5,525 | 15,622 | 12,112 |
TV Guide Network (TVGN) [Member] | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' |
Equity interests income (loss) | ($807) | ($3,147) | $2,057 | ($8,160) |
Equity_Method_Investments_Inte
Equity Method Investments (Intercompany Revenue and Gross Profit and Calculation of Profit Eliminated) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 26, 2013 | Mar. 25, 2013 | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Revenue recognized on sales to investee | $498,729 | $706,968 | $1,068,457 | $1,178,788 | ' | ' | ||||
TV Guide Network (TVGN) [Member] | ' | ' | ' | ' | ' | ' | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Revenue recognized on sales to investee | 0 | 0 | 0 | 2,925 | ' | ' | ||||
Gross profit on sales to investee | 0 | 0 | 0 | 735 | ' | ' | ||||
Ownership interest in investee | 50.00% | [1] | 51.00% | [1] | 50.00% | [1] | 51.00% | [1] | 50.00% | 51.00% |
Elimination of the Company's share of profit on sales to investee | 0 | [2],[3] | 0 | [2],[3] | 0 | [2],[3] | 375 | [2],[3] | ' | ' |
Studio 3 Partners, LLC (EPIX) [Member] | ' | ' | ' | ' | ' | ' | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Ownership interest in investee | 31.15% | 31.15% | 31.15% | 31.15% | ' | ' | ||||
Elimination of the Company's share of profit on sales to investee | 2,099 | [4] | 681 | [4] | 5,620 | [4] | 2,856 | [4] | ' | ' |
Corporate Joint Venture [Member] | Studio 3 Partners, LLC (EPIX) [Member] | ' | ' | ' | ' | ' | ' | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Revenue recognized on sales to investee | 8,329 | 6,256 | 23,133 | 22,772 | ' | ' | ||||
Gross profit on sales to investee | $6,738 | $2,185 | $18,042 | $9,170 | ' | ' | ||||
Ownership interest in investee | 31.15% | 31.15% | 31.15% | 31.15% | ' | ' | ||||
[1] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. | |||||||||
[2] | Represents the elimination of the gross profit recognized by the Company on sales to TVGN in proportion to the Company's ownership interest in TVGN. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of TVGN. The table above in the Transactions with TVGN section shows the calculation of the profit eliminated. | |||||||||
[3] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. The elimination of the Company's share of profit on sales to TVGN for the six months ended SeptemberB 30, 2012 was calculated using 51%. | |||||||||
[4] | Represents the elimination of the gross profit recognized by the Company on sales to EPIX in proportion to the Company's ownership interest in EPIX. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of EPIX. The table above in the Transactions with EPIX section shows the calculation of the profit eliminated. |
Equity_Method_Investments_Summ
Equity Method Investments (Summarized Balance Sheet) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Studio 3 Partners, LLC (EPIX) [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Current assets | $169,637 | $213,508 |
Non-current assets | 234,151 | 208,620 |
Current liabilities | 131,530 | 144,897 |
Non-current liabilities | 6,759 | 6,574 |
TV Guide Network (TVGN) [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Current assets | 29,212 | 29,172 |
Non-current assets | 199,204 | 211,922 |
Current liabilities | 30,715 | 30,267 |
Non-current liabilities | 19,688 | 24,818 |
Redeemable preferred stock | $292,513 | $267,362 |
Equity_Method_Investments_Summ1
Equity Method Investments (Summarized Statement Of Operations) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Mar. 26, 2013 | Mar. 25, 2013 | ||||
Reconciliation of net income (loss) reported by investee to equity interest income (loss): | ' | ' | ' | ' | ' | ' | ' | ||||
Total equity interest income (loss) recorded | $6,502 | $1,755 | $14,479 | $1,610 | ' | ' | ' | ||||
Studio 3 Partners, LLC (EPIX) [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Revenues | 87,033 | 82,842 | 172,230 | 170,606 | ' | ' | ' | ||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ||||
Operating expenses | 59,144 | 62,959 | 121,286 | 123,692 | ' | ' | ' | ||||
Selling, marketing, general and administrative expenses | 5,633 | 6,498 | 11,263 | 12,241 | ' | ' | ' | ||||
Operating income (loss) | 22,256 | 13,385 | 39,681 | 34,673 | ' | ' | ' | ||||
Interest and other income (expense) | -268 | 0 | 162 | 0 | ' | ' | ' | ||||
Net income (loss) | 21,988 | 13,385 | 39,843 | 34,673 | ' | ' | ' | ||||
Reconciliation of net income (loss) reported by investee to equity interest income (loss): | ' | ' | ' | ' | ' | ' | ' | ||||
Net income (loss) | 21,988 | 13,385 | 39,843 | 34,673 | ' | ' | ' | ||||
Ownership interest in investee | 31.15% | 31.15% | 31.15% | 31.15% | ' | ' | ' | ||||
The Company's share of net income (loss) | 6,849 | 4,169 | 12,411 | 10,801 | ' | ' | ' | ||||
Eliminations of the Company's share of profits on sales to investee | -2,099 | [1] | -681 | [1] | -5,620 | [1] | -2,856 | [1] | ' | ' | ' |
Realization of the Company's share of profits on sales to investee | 4,131 | [2] | 2,037 | [2] | 8,831 | [2] | 4,167 | [2] | ' | ' | ' |
Total equity interest income (loss) recorded | 8,881 | 5,525 | 15,622 | 12,112 | ' | ' | ' | ||||
TV Guide Network (TVGN) [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Revenues | 18,173 | 16,490 | 34,965 | 35,105 | ' | ' | ' | ||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ||||
Cost of services | 6,757 | 10,399 | 14,003 | 23,318 | ' | ' | ' | ||||
Selling, marketing, general and administrative expenses | 10,749 | 8,734 | 20,477 | 20,412 | ' | ' | ' | ||||
Depreciation and amortization | 1,986 | 2,093 | 3,994 | 4,276 | ' | ' | ' | ||||
Operating income (loss) | -1,319 | -4,736 | -3,509 | -12,901 | ' | ' | ' | ||||
Other income | -14 | 0 | -1,390 | 0 | ' | ' | ' | ||||
Interest expense, net | 335 | 431 | 682 | 873 | ' | ' | ' | ||||
Accretion of redeemable preferred stock units | 9,843 | [3] | 8,368 | [3] | 19,151 | [3] | 16,452 | [3] | ' | ' | ' |
Total interest expense, net | 10,164 | 8,799 | 18,443 | 17,325 | ' | ' | ' | ||||
Loss from continuing operations | -11,483 | -13,535 | -21,952 | -30,226 | ' | ' | ' | ||||
Loss from discontinued operations | 0 | [4] | -1,290 | [4] | -1,114 | [4] | -2,684 | [4] | ' | ' | ' |
Net income (loss) | -11,483 | -14,825 | -23,066 | -32,910 | ' | ' | ' | ||||
Reconciliation of net income (loss) reported by investee to equity interest income (loss): | ' | ' | ' | ' | ' | ' | ' | ||||
Net income (loss) | -11,483 | -14,825 | -23,066 | -32,910 | ' | ' | ' | ||||
Ownership interest in investee | 50.00% | [5] | 51.00% | [5] | 50.00% | [5] | 51.00% | [5] | ' | 50.00% | 51.00% |
The Company's share of net income (loss) | -5,742 | -7,561 | -11,533 | -16,784 | ' | ' | ' | ||||
Accretion of dividend and interest income on redeemable preferred stock units | 4,923 | [3] | 4,268 | [3] | 9,576 | [3] | 8,390 | [3] | ' | ' | ' |
Eliminations of the Company's share of profits on sales to investee | 0 | [6],[7] | 0 | [6],[7] | 0 | [6],[7] | -375 | [6],[7] | ' | ' | ' |
Realization of the Company's share of profits on sales to investee | 12 | [8] | 146 | [8] | 54 | [8] | 609 | [8] | ' | ' | ' |
Gain (loss) on sale of a portion of equity method investee | 0 | [4] | 0 | [4] | 3,960 | [4] | 0 | [4] | -1,900 | ' | ' |
Total equity interest income (loss) recorded | ($807) | ($3,147) | $2,057 | ($8,160) | ' | ' | ' | ||||
[1] | Represents the elimination of the gross profit recognized by the Company on sales to EPIX in proportion to the Company's ownership interest in EPIX. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of EPIX. The table above in the Transactions with EPIX section shows the calculation of the profit eliminated. | ||||||||||
[2] | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by EPIX. EPIX initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on EPIX's books is amortized. The profit amount realized is calculated by multiplying the percentage of the EPIX inventory amortized in the period reported by EPIX, by the amount of profit initially eliminated, on a title by title basis. | ||||||||||
[3] | Accretion of mandatorily redeemable preferred stock units represents TVGNbs 10% dividend and the amortization of discount on its mandatorily redeemable preferred stock units held by the Company and the other interest holder. The Company recorded 51% of this expense as income from the accretion of dividend and discount on mandatorily redeemable preferred stock units through March 26, 2013 and 50% thereafter within equity interest income (loss). | ||||||||||
[4] | On May 31, 2013, as discussed above, the Company sold its 50% interest in TVGuide.com, a wholly-owned subsidiary of TVGN. As a result of this transaction, the Company recorded a gain in the six months ended September 30, 2013 of $4.0 million as reflected in the table above, and presented the revenues and expenses of TVGuide.com prior to the transaction for all periods presented, net within the discontinued operations line item. | ||||||||||
[5] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. | ||||||||||
[6] | Represents the elimination of the gross profit recognized by the Company on sales to TVGN in proportion to the Company's ownership interest in TVGN. The amount of intra-entity profit is calculated as the total gross profit recognized on a title by title basis multiplied by the Company's percentage ownership of TVGN. The table above in the Transactions with TVGN section shows the calculation of the profit eliminated. | ||||||||||
[7] | On March 26, 2013, as discussed above, the Company's ownership interest in TVGN was reduced from 51% to 50% due to the Company's sale of 1% of its interest to CBS Corporation. The elimination of the Company's share of profit on sales to TVGN for the six months ended SeptemberB 30, 2012 was calculated using 51%. | ||||||||||
[8] | Represents the realization of a portion of the profits previously eliminated. This profit remains eliminated until realized by TVGN. TVGN initially records the license fee for the title as inventory on its balance sheet and amortizes the inventory over the license period. Accordingly, the profit is realized as the inventory on TVGN's books is amortized. The profit amount realized is calculated by multiplying the percentage of the TVGN inventory amortized in the period reported by TVGN by the amount of profit initially eliminated, on a title by title basis. |
Other_Assets_Narrative_Details
Other Assets (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Assets, Unclassified [Abstract] | ' | ' | ' | ' |
Intangible assets, amortization expense | $933 | $1,348 | $1,865 | $2,695 |
Other_Assets_Composition_Of_Ot
Other Assets (Composition Of Other Assets) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Assets, Unclassified [Abstract] | ' | ' |
Deferred financing costs, net of accumulated amortization | $38,287 | $33,060 |
Loans receivable | 21,398 | 22,916 |
Prepaid expenses and other | 15,937 | 9,916 |
Finite-lived intangible assets | 4,863 | 6,727 |
Total other assets | $80,485 | $72,619 |
Other_Assets_Loans_Receivable_
Other Assets (Loans Receivable) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans receivable | $21,398 | $22,916 |
Third-Party Producer [Member] | ' | ' |
Interest rate | 3.00% | ' |
Loans receivable | 1,691 | 4,658 |
NextPoint, Inc. (Break Media) [Member] | ' | ' |
Loans receivable | $19,707 | $18,258 |
Minimum [Member] | NextPoint, Inc. (Break Media) [Member] | ' | ' |
Interest rate | 5.25% | ' |
Maximum [Member] | NextPoint, Inc. (Break Media) [Member] | ' | ' |
Interest rate | 20.00% | ' |
Other_Assets_FiniteLived_Intan
Other Assets (Finite-Lived Intangible Assets) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Gross Carrying Amount | $14,400,000 | ' | $14,400,000 | ' | $14,400,000 |
Accumulated Amortization | 9,537,000 | ' | 9,537,000 | ' | 7,673,000 |
Net Carrying Amount | 4,863,000 | ' | 4,863,000 | ' | 6,727,000 |
Intangible assets, amortization expense | 933,000 | 1,348,000 | 1,865,000 | 2,695,000 | ' |
Estimated amortization expense, 2014 | 1,900,000 | ' | 1,900,000 | ' | ' |
Estimated amortization expense, 2015 | 1,800,000 | ' | 1,800,000 | ' | ' |
Estimated amortization expense, 2016 | 800,000 | ' | 800,000 | ' | ' |
Estimated amortization expense, 2017 | 400,000 | ' | 400,000 | ' | ' |
Estimated amortization expense, 2018 | 0 | ' | 0 | ' | ' |
Trademarks [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Weighted-Average Remaining Life (in years) | ' | ' | '4 years | ' | ' |
Range of Remaining Life | ' | ' | '4 years | ' | ' |
Gross Carrying Amount | 8,200,000 | ' | 8,200,000 | ' | 8,200,000 |
Accumulated Amortization | 5,237,000 | ' | 5,237,000 | ' | 4,073,000 |
Net Carrying Amount | 2,963,000 | ' | 2,963,000 | ' | 4,127,000 |
Sales Agency Relationships [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Weighted-Average Remaining Life (in years) | ' | ' | '4 years | ' | ' |
Range of Remaining Life | ' | ' | '4 years | ' | ' |
Gross Carrying Amount | 6,200,000 | ' | 6,200,000 | ' | 6,200,000 |
Accumulated Amortization | 4,300,000 | ' | 4,300,000 | ' | 3,600,000 |
Net Carrying Amount | $1,900,000 | ' | $1,900,000 | ' | $2,600,000 |
Corporate_Debt_Narrative_Senio
Corporate Debt (Narrative - Senior Revolving Credit Facility) (Details) (USD $) | Sep. 30, 2013 | Jul. 19, 2013 | Jul. 17, 2013 | Mar. 31, 2013 | Sep. 26, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 19, 2013 |
Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Base Rate [Member] | LIBOR [Member] | Minimum [Member] | Maximum [Member] | 5.25% Senior Notes [Member] | 5.25% Senior Notes [Member] | |
Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | ||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior revolving credit facility, amount outstanding | $285,474,000 | ' | ' | $338,474,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior revolving credit facility, available amount | 514,500,000 | ' | ' | 303,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior revolving credit facility, maximum borrowing capacity | 800,000,000 | ' | ' | ' | 340,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Senior revolving credit facility, borrowing capacity as restricted by senior secured second-priority notes | ' | 800,000,000 | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Coupon rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.25% | 5.25% |
Letters of credit outstanding, amount | ' | ' | ' | ' | ' | $100,000 | $8,500,000 | ' | ' | ' | ' | ' | ' |
Basis spread on variable interest rate | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.50% | ' | ' | ' | ' |
Effective interest rate | 2.68% | ' | ' | 2.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior revolving credit facility, commitment fee annual percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | 0.50% | ' | ' |
Change in control, trigger percentage | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate_Debt_Narrative_Senio1
Corporate Debt (Narrative - Senior Secured Second-Priority Notes) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Jul. 19, 2013 | Jul. 19, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 19, 2013 | Sep. 30, 2013 | |
10.25% Senior Notes and New Issuances [Member] | 5.25% Senior Notes and July 2013 Term Loans [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | Senior Secured Second-Priority Notes [Member] | 10.25% Senior Notes [Member] | |||||
10.25% Senior Notes [Member] | 10.25% Senior Notes [Member] | 10.25% Senior Notes [Member] | 10.25% Senior Notes [Member] | 5.25% Senior Notes [Member] | 5.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | |||||||
5.25% Senior Notes [Member] | |||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secured second-priority notes - amounts paid for repurchases | ' | ' | $470,584,000 | $0 | ' | ' | ' | $4,300,000 | ' | ' | ' | ' | ' |
Principal amount of notes repurchased | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' |
Carrying value of notes extinguished | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | 36,187,000 | 1,000,000 | 36,653,000 | 9,159,000 | 35,900,000 | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Write-off of deferred debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Coupon rate | ' | ' | ' | ' | ' | ' | 10.25% | ' | ' | 10.25% | 5.25% | 5.25% | ' |
Premium and interest paid for early redemption of 10.25% Senior Notes | ' | ' | ' | ' | ' | ' | 34,300,000 | ' | ' | ' | ' | ' | ' |
Principal amount of notes | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' | 225,000,000 | ' |
Transaction costs capitalized as deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' |
Transaction costs expensed as early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Deferred financing costs and unamortized discount related to redeemed notes | ' | ' | ' | ' | ' | ' | $19,800,000 | ' | ' | ' | ' | ' | ' |
Debt instrument redemption price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' |
Certain asset dispositions, redemption or prepayment price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Change of control, redemption or prepayment price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' |
Corporate_Debt_Narrative_July_
Corporate Debt (Narrative - July 2013 Term Loan and Summit Term Loan) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Jul. 19, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Jan. 13, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 |
July 2013 Term Loan [Member] | July 2013 Term Loan [Member] | July 2013 Term Loan [Member] | July 2013 Term Loan [Member] | July 2013 Term Loan [Member] | Summit Term Loan [Member] | Summit Term Loan [Member] | Summit Term Loan [Member] | Summit Term Loan [Member] | 10.25% Senior Notes [Member] | |||
Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Base Rate [Member] | LIBOR [Member] | Term Loan [Member] | Summit Entertainment, LLC [Member] | Base Rate [Member] | LIBOR [Member] | July 2013 Term Loan [Member] | |||
Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | |||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of debt outstanding | $881,546,000 | $857,918,000 | $222,574,000 | $222,500,000 | $0 | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt outstanding | 901,940,000 | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized Premium (Discount) | -20,394,000 | ' | -2,426,000 | -2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction costs capitalized as deferred financing costs | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction costs expensed as early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 |
Basis spread on variable interest rate | ' | ' | ' | ' | ' | 3.00% | 4.00% | ' | ' | 4.50% | 5.50% | ' |
Interest rate floor | ' | ' | ' | ' | ' | 2.00% | 1.00% | ' | ' | ' | 1.25% | ' |
Effective interest rate | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
July 2013 Term Loan, prepayment premium percentage, on or before July 19, 2015 | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
July 2013 Term Loan, prepayment premium percentage, between July 19, 2015 and July 19, 2016 | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
July 2013 Term Loan, prepayment premium percentage, after July 19, 2016 | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change of control, redemption or prepayment price percentage | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Certain asset dispositions, redemption or prepayment price percentage | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of notes | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' |
Proceeds from debt, net of fees and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 476,200,000 | ' | ' | ' |
Repayment of Summit Term Loan, quarterly installments | ' | ' | ' | ' | ' | ' | ' | 13,750,000 | ' | ' | ' | ' |
Write off of deferred financing costs and debt discount | ' | ' | ' | ' | ' | ' | ' | $22,700,000 | ' | ' | ' | ' |
Corporate_Debt_Narrative_Conve
Corporate Debt (Narrative - Convertible Senior Subordinated Notes) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Oct. 31, 2004 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Apr. 30, 2009 | Jul. 24, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Jan. 31, 2012 | Sep. 30, 2013 | Apr. 15, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 24, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||||
Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Issuer [Member] | Issuer [Member] | Holder [Member] | Holder [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | Common Shares [Member] | |||||||||||||||
October 2004 Notes [Member] | October 2004 Notes [Member] | October 2004 Notes [Member] | February 2005 Notes [Member] | February 2005 Notes [Member] | April 2009 Notes [Member] | April 2009 Notes [Member] | April 2009 Notes [Member] | April 2009 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | April 2013 Notes [Member] | April 2013 Notes [Member] | April 2013 Notes [Member] | Convertible Senior Subordinated Notes [Member] | On or After March 15, 2015 [Member] | Convertible Senior Subordinated Notes [Member] | On October 15, 2014, October 15, 2019 or Upon a Change in Control [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||||||
October 2004 Notes [Member] | Convertible Senior Subordinated Notes [Member] | April 2009 Notes [Member] | Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | April 2009 Notes [Member] | January 2012 Notes [Member] | January 2012 Notes [Member] | April 2013 Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | Convertible Senior Subordinated Notes [Member] | ||||||||||||||||||||||||||||||||||||
April 2009 Notes [Member] | October 2004 Notes [Member] | October 2004 Notes [Member] | April 2009 Notes [Member] | October 2004 Notes [Member] | April 2009 Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||
Principal amount of convertible senior subordinated notes converted into common shares | ' | ' | ' | ' | ' | $3,150,000 | $17,897,000 | ' | ' | ' | ' | $0 | $15,825,000 | $0 | $2,072,000 | ' | ' | $3,200,000 | ' | $3,150,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Principal amount of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | 66,600,000 | ' | ' | ' | ' | ' | 45,000,000 | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Coupon rate | ' | ' | ' | ' | ' | ' | ' | ' | 2.94% | ' | ' | 3.63% | 3.63% | 3.63% | 3.63% | ' | ' | ' | 4.00% | 4.00% | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Equity component | ' | ' | ' | ' | ' | ' | ' | ' | 50,100,000 | ' | ' | ' | ' | ' | ' | ' | 16,200,000 | ' | ' | ' | ' | ' | 10,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Principal amount of debt outstanding | 901,940,000 | ' | 901,940,000 | ' | ' | 166,466,000 | ' | 109,853,000 | 115,000 | [1],[2] | 348,000 | [1] | ' | ' | ' | 64,501,000 | [1],[2] | ' | 64,505,000 | [1] | ' | ' | 41,850,000 | [1],[2] | 41,850,000 | [1],[2] | ' | 45,000,000 | [1] | ' | 60,000,000 | [2],[3] | ' | 0 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of debt outstanding | 881,546,000 | ' | 881,546,000 | ' | 857,918,000 | 148,498,000 | ' | 87,167,000 | 115,000 | [1] | 348,000 | [1] | ' | ' | ' | 53,209,000 | [1] | ' | 49,907,000 | [1] | ' | ' | 35,174,000 | [1] | 35,174,000 | [1] | ' | 36,912,000 | [1] | ' | 60,000,000 | [3] | ' | 0 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument redemption price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Conversion rate of number of common shares of the company per $1,000 principal amount of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86.9565 | 121.2121 | 95.23809 | ' | ' | ' | ' | ' | ' | |||||||||
Debt instrument, denomination amount | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | $11.50 | ' | ' | $14.28 | ' | $8.25 | ' | ' | ' | ' | $10.50 | $10.50 | ' | ' | ' | $30 | ' | ' | ' | ' | ' | ' | $11.50 | $8.25 | $10.50 | $10.50 | $30 | ' | ' | ' | ' | |||||||||
Common shares issued for convertible senior subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,107,950 | ' | 122,060 | ' | ' | ' | ' | 299,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 299,999 | ' | ' | ' | ' | ' | ' | |||||||||
Loss on extinguishment of debt | $36,187,000 | $1,000,000 | $36,653,000 | $9,159,000 | ' | $36,653,000 | $9,159,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Applicable price range for make-whole premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.79 | $5.36 | $50 | $50 | |||||||||
[1] | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | |||||||||||||||||||||||||||||||||||||||||||||||
[2] | The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below. | |||||||||||||||||||||||||||||||||||||||||||||||
[3] | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. |
Corporate_Debt_Carrying_Values
Corporate Debt (Carrying Values of Corporate Debt) (Details) (USD $) | Sep. 30, 2013 | Jul. 19, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | ||||
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | $881,546 | ' | $857,918 | |
Senior Revolving Credit Facility [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Senior revolving credit facility | 285,474 | ' | 338,474 | |
Senior Secured Second-Priority Notes [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | 225,000 | ' | 432,277 | |
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | 148,498 | ' | 87,167 | |
5.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | 225,000 | ' | 0 | |
10.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | 0 | ' | 432,277 | [1] |
July 2013 Term Loan [Member] | Term Loan [Member] | ' | ' | ' | |
Debt Instrument [Line Items] | ' | ' | ' | |
Corporate debt | $222,574 | $222,500 | $0 | |
[1] | On July 19, 2013, the Company called the 10.25% Senior Notes for redemption, as discussed below. |
Corporate_Debt_Future_Annual_C
Corporate Debt (Future Annual Contractual Principal Payment Commitments) (Details) (USD $) | Sep. 30, 2013 | Jul. 19, 2013 | Mar. 31, 2013 | ||
In Thousands, unless otherwise specified | |||||
Year Ended March 31, 2014 | $0 | ' | ' | ||
Year Ended March 31, 2015 | 64,616 | ' | ' | ||
Year Ended March 31, 2016 | 0 | ' | ' | ||
Year Ended March 31, 2017 | 41,850 | ' | ' | ||
Year Ended March 31, 2018 | 285,474 | ' | ' | ||
Thereafter | 510,000 | ' | ' | ||
Total | 901,940 | ' | ' | ||
Less aggregate unamortized (discount) premium, net | -20,394 | ' | ' | ||
Carrying value of debt outstanding | 881,546 | ' | 857,918 | ||
Senior Revolving Credit Facility [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | ' | ' | ||
Year Ended March 31, 2015 | 0 | ' | ' | ||
Year Ended March 31, 2016 | 0 | ' | ' | ||
Year Ended March 31, 2017 | 0 | ' | ' | ||
Year Ended March 31, 2018 | 285,474 | ' | ' | ||
Thereafter | 0 | ' | ' | ||
Total | 285,474 | ' | ' | ||
Senior Secured Second-Priority Notes [Member] | ' | ' | ' | ||
Total | 225,000 | ' | 436,000 | ||
Less aggregate unamortized (discount) premium, net | 0 | ' | -3,723 | ||
Carrying value of debt outstanding | 225,000 | ' | 432,277 | ||
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Total | 166,466 | ' | 109,853 | ||
Less aggregate unamortized (discount) premium, net | -17,968 | ' | -22,686 | ||
Carrying value of debt outstanding | 148,498 | ' | 87,167 | ||
5.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | ' | ' | ||
Year Ended March 31, 2015 | 0 | ' | ' | ||
Year Ended March 31, 2016 | 0 | ' | ' | ||
Year Ended March 31, 2017 | 0 | ' | ' | ||
Year Ended March 31, 2018 | 0 | ' | ' | ||
Thereafter | 225,000 | ' | ' | ||
Total | 225,000 | ' | 0 | ||
Less aggregate unamortized (discount) premium, net | 0 | ' | 0 | ||
Carrying value of debt outstanding | 225,000 | ' | 0 | ||
July 2013 Term Loan [Member] | Term Loan [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | ' | ' | ||
Year Ended March 31, 2015 | 0 | ' | ' | ||
Year Ended March 31, 2016 | 0 | ' | ' | ||
Year Ended March 31, 2017 | 0 | ' | ' | ||
Year Ended March 31, 2018 | 0 | ' | ' | ||
Thereafter | 225,000 | ' | ' | ||
Total | 225,000 | ' | ' | ||
Less aggregate unamortized (discount) premium, net | -2,426 | -2,500 | ' | ||
Carrying value of debt outstanding | 222,574 | 222,500 | 0 | ||
October 2004 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | [1] | ' | ' | |
Year Ended March 31, 2015 | 115 | [1] | ' | ' | |
Year Ended March 31, 2016 | 0 | [1] | ' | ' | |
Year Ended March 31, 2017 | 0 | [1] | ' | ' | |
Year Ended March 31, 2018 | 0 | [1] | ' | ' | |
Thereafter | 0 | [1] | ' | ' | |
Total | 115 | [1],[2] | ' | 348 | [2] |
Less aggregate unamortized (discount) premium, net | 0 | [2] | ' | 0 | [2] |
Carrying value of debt outstanding | 115 | [2] | ' | 348 | [2] |
April 2009 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | [1] | ' | ' | |
Year Ended March 31, 2015 | 64,501 | [1] | ' | ' | |
Year Ended March 31, 2016 | 0 | [1] | ' | ' | |
Year Ended March 31, 2017 | 0 | [1] | ' | ' | |
Year Ended March 31, 2018 | 0 | [1] | ' | ' | |
Thereafter | 0 | [1] | ' | ' | |
Total | 64,501 | [1],[2] | ' | 64,505 | [2] |
Less aggregate unamortized (discount) premium, net | -11,292 | [2] | ' | -14,598 | [2] |
Carrying value of debt outstanding | 53,209 | [2] | ' | 49,907 | [2] |
January 2012 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | [1] | ' | ' | |
Year Ended March 31, 2015 | 0 | [1] | ' | ' | |
Year Ended March 31, 2016 | 0 | [1] | ' | ' | |
Year Ended March 31, 2017 | 41,850 | [1] | ' | ' | |
Year Ended March 31, 2018 | 0 | [1] | ' | ' | |
Thereafter | 0 | [1] | ' | ' | |
Total | 41,850 | [1],[2] | ' | 45,000 | [2] |
Less aggregate unamortized (discount) premium, net | -6,676 | [2] | ' | -8,088 | [2] |
Carrying value of debt outstanding | 35,174 | [2] | ' | 36,912 | [2] |
April 2013 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Year Ended March 31, 2014 | 0 | [1] | ' | ' | |
Year Ended March 31, 2015 | 0 | [1] | ' | ' | |
Year Ended March 31, 2016 | 0 | [1] | ' | ' | |
Year Ended March 31, 2017 | 0 | [1] | ' | ' | |
Year Ended March 31, 2018 | 0 | [1] | ' | ' | |
Thereafter | 60,000 | [1] | ' | ' | |
Total | 60,000 | [1],[3] | ' | 0 | [3] |
Less aggregate unamortized (discount) premium, net | 0 | [3] | ' | 0 | [3] |
Carrying value of debt outstanding | $60,000 | [3] | ' | $0 | [3] |
[1] | The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below. | ||||
[2] | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | ||||
[3] | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. |
Corporate_Debt_Debt_Outstandin
Corporate Debt (Debt Outstanding Amount) (Details) (USD $) | Sep. 30, 2013 | Jul. 19, 2013 | Mar. 31, 2013 | ||
In Thousands, except Per Share data, unless otherwise specified | |||||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | $901,940 | ' | ' | ||
Unamortized Premium (Discount) | -20,394 | ' | ' | ||
Net carrying amount | 881,546 | ' | 857,918 | ||
Senior Secured Second-Priority Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 225,000 | ' | 436,000 | ||
Unamortized Premium (Discount) | 0 | ' | -3,723 | ||
Net carrying amount | 225,000 | ' | 432,277 | ||
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 166,466 | ' | 109,853 | ||
Unamortized Premium (Discount) | -17,968 | ' | -22,686 | ||
Net carrying amount | 148,498 | ' | 87,167 | ||
5.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 225,000 | ' | 0 | ||
Unamortized Premium (Discount) | 0 | ' | 0 | ||
Net carrying amount | 225,000 | ' | 0 | ||
10.25% Senior Notes [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 0 | [1] | ' | 436,000 | [1] |
Unamortized Premium (Discount) | 0 | [1] | ' | -3,723 | [1] |
Net carrying amount | 0 | ' | 432,277 | [1] | |
July 2013 Term Loan [Member] | Term Loan [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 225,000 | ' | ' | ||
Unamortized Premium (Discount) | -2,426 | -2,500 | ' | ||
Net carrying amount | 222,574 | 222,500 | 0 | ||
October 2004 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 115 | [2],[3] | ' | 348 | [2] |
Unamortized Premium (Discount) | 0 | [2] | ' | 0 | [2] |
Net carrying amount | 115 | [2] | ' | 348 | [2] |
Conversion price per share | $11.50 | ' | ' | ||
April 2009 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 64,501 | [2],[3] | ' | 64,505 | [2] |
Unamortized Premium (Discount) | -11,292 | [2] | ' | -14,598 | [2] |
Net carrying amount | 53,209 | [2] | ' | 49,907 | [2] |
Conversion price per share | $8.25 | ' | ' | ||
January 2012 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 41,850 | [2],[3] | ' | 45,000 | [2] |
Unamortized Premium (Discount) | -6,676 | [2] | ' | -8,088 | [2] |
Net carrying amount | 35,174 | [2] | ' | 36,912 | [2] |
Conversion price per share | $10.50 | ' | ' | ||
April 2013 Notes [Member] | Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount of debt outstanding | 60,000 | [3],[4] | ' | 0 | [4] |
Unamortized Premium (Discount) | 0 | [4] | ' | 0 | [4] |
Net carrying amount | $60,000 | [4] | ' | $0 | [4] |
Conversion price per share | $30 | ' | ' | ||
[1] | On July 19, 2013, the Company called the 10.25% Senior Notes for redemption, as discussed below. | ||||
[2] | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | ||||
[3] | The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below. | ||||
[4] | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. |
Corporate_Debt_Interest_Expens
Corporate Debt (Interest Expense) (Details) (Convertible Senior Subordinated Notes [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Contractual interest coupon | $1,194 | $1,134 | $2,390 | $2,440 |
Amortization of discount on liability component and debt issuance costs | 2,141 | 1,899 | 4,237 | 3,723 |
Interest expense, total | 3,335 | 3,033 | 6,627 | 6,163 |
October 2004 Notes [Member] | ' | ' | ' | ' |
Contractual interest coupon | 0 | 0 | 5 | 5 |
Interest expense, total | 0 | 0 | 5 | 5 |
Coupon rate | 2.94% | ' | 2.94% | ' |
Effective interest rate of liability component | ' | ' | 9.65% | ' |
February 2005 Notes [Member] | ' | ' | ' | ' |
Contractual interest coupon | 0 | 80 | 0 | 328 |
Amortization of discount on liability component and debt issuance costs | 0 | 0 | 0 | 6 |
Interest expense, total | 0 | 80 | 0 | 334 |
Coupon rate | 3.63% | 3.63% | 3.63% | 3.63% |
Effective interest rate of liability component | ' | ' | 10.03% | ' |
April 2009 Notes [Member] | ' | ' | ' | ' |
Contractual interest coupon | 579 | 604 | 1,164 | 1,207 |
Amortization of discount on liability component and debt issuance costs | 1,691 | 1,470 | 3,327 | 2,868 |
Interest expense, total | 2,270 | 2,074 | 4,491 | 4,075 |
Coupon rate | 3.63% | 3.63% | 3.63% | 3.63% |
Effective interest rate of liability component | ' | ' | 17.26% | ' |
January 2012 Notes [Member] | ' | ' | ' | ' |
Contractual interest coupon | 427 | 450 | 877 | 900 |
Amortization of discount on liability component and debt issuance costs | 450 | 429 | 910 | 849 |
Interest expense, total | 877 | 879 | 1,787 | 1,749 |
Coupon rate | 4.00% | ' | 4.00% | ' |
Effective interest rate of liability component | ' | ' | 9.56% | ' |
April 2013 Notes [Member] | ' | ' | ' | ' |
Contractual interest coupon | 188 | 0 | 344 | 0 |
Interest expense, total | $188 | $0 | $344 | $0 |
Coupon rate | 1.25% | ' | 1.25% | ' |
Participations_and_Residuals_D
Participations and Residuals (Details) | 6 Months Ended |
Sep. 30, 2013 | |
Participations And Residuals [abstract] | ' |
Percentage of accrued participations and residuals payable within one year | 61.00% |
Film_Obligations_and_Productio2
Film Obligations and Production Loans (Narrative) (Details) (USD $) | 6 Months Ended | ||||||||
Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Apr. 09, 2008 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Individual Production Loans [Member] | Individual Production Loans [Member] | Pennsylvania Regional Center Production Loans [Member] | Pennsylvania Regional Center Production Loans [Member] | Pennsylvania Regional Center Production Loans [Member] | Film Credit Facility [Member] | Film Credit Facility [Member] | Interest Bearing [Member] | Non-interest Bearing [Member] | |
Individual Production Loans [Member] | Individual Production Loans [Member] | ||||||||
Individual production loans, interest bearing | ' | ' | ' | ' | ' | ' | ' | $362,700,000 | ' |
Interest rate range, minimum | 2.76% | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate range, maximum | 3.64% | ' | ' | ' | ' | ' | ' | ' | ' |
Production loans, non-interest bearing | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | 65,500,000 | ' | ' | ' | ' |
Pennsylvania Regional Center facility, term (in years) | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Production loans | $377,670,000 | $404,341,000 | $0 | $65,000,000 | ' | $0 | $0 | ' | ' |
Coupon rate | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' |
Film_Obligations_and_Productio3
Film Obligations and Production Loans (Film Obligations And Production Loans) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Film obligations | $66,491 | $99,678 |
Total film obligations and production loans | 444,161 | 569,019 |
Individual Production Loans [Member] | ' | ' |
Production loans | 377,670 | 404,341 |
Pennsylvania Regional Center Production Loans [Member] | ' | ' |
Production loans | $0 | $65,000 |
Film_Obligations_and_Productio4
Film Obligations and Production Loans (Future Annual Repayment of Film Obligations And Production Loans) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | ||
Future Annual Repayment Of Film Obligations And Production Loans | ' | ' |
Six Months Ended March 31, 2014 | $237,506 | ' |
Year Ended March 31, 2015 | 159,030 | ' |
Year Ended March 31, 2016 | 37,612 | ' |
Year Ended March 31, 2017 | 6,000 | ' |
Year Ended March 31, 2018 | 6,000 | ' |
Thereafter | 1,000 | ' |
Total | 447,148 | ' |
Less imputed interest on film obligations | -2,987 | ' |
Total film obligations and production loans | 444,161 | 569,019 |
Film Obligations [Member] | ' | ' |
Future Annual Repayment Of Film Obligations And Production Loans | ' | ' |
Six Months Ended March 31, 2014 | 17,778 | ' |
Year Ended March 31, 2015 | 22,020 | ' |
Year Ended March 31, 2016 | 16,680 | ' |
Year Ended March 31, 2017 | 6,000 | ' |
Year Ended March 31, 2018 | 6,000 | ' |
Thereafter | 1,000 | ' |
Total | 69,478 | ' |
Individual Production Loans [Member] | ' | ' |
Future Annual Repayment Of Film Obligations And Production Loans | ' | ' |
Six Months Ended March 31, 2014 | 219,728 | ' |
Year Ended March 31, 2015 | 137,010 | ' |
Year Ended March 31, 2016 | 20,932 | ' |
Year Ended March 31, 2017 | 0 | ' |
Year Ended March 31, 2018 | 0 | ' |
Thereafter | 0 | ' |
Total | $377,670 | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Values And Fair Values Of Investment in Mandatorily Redeemable Preferred Stock and Outstanding Debt) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | $881,546 | $857,918 | ||
Individual Production Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 377,670 | 404,341 | ||
Pennsylvania Regional Center Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 0 | 65,000 | ||
Convertible Senior Subordinated Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 148,498 | 87,167 | ||
Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 115 | [1] | 348 | [1] |
Convertible Senior Subordinated Notes [Member] | April 2009 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 53,209 | [1] | 49,907 | [1] |
Convertible Senior Subordinated Notes [Member] | January 2012 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 35,174 | [1] | 36,912 | [1] |
Convertible Senior Subordinated Notes [Member] | April 2013 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 60,000 | [2] | 0 | [2] |
Senior Secured Second-Priority Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 225,000 | 432,277 | ||
Carrying Value [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Investment in TVGN's Mandatorily Redeemable Preferred Stock Units | 87,465 | 91,408 | ||
Corporate debt | ' | 0 | ||
Corporate debt and production loans | 973,742 | 988,785 | ||
Carrying Value [Member] | Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 115 | 348 | ||
Carrying Value [Member] | Convertible Senior Subordinated Notes [Member] | April 2009 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 53,209 | 49,907 | ||
Carrying Value [Member] | Convertible Senior Subordinated Notes [Member] | January 2012 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 35,174 | 36,912 | ||
Carrying Value [Member] | Convertible Senior Subordinated Notes [Member] | April 2013 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 60,000 | 0 | ||
Carrying Value [Member] | Film Obligations and Production Loans [Member] | Individual Production Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 377,670 | 404,341 | ||
Carrying Value [Member] | Film Obligations and Production Loans [Member] | Pennsylvania Regional Center Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 0 | 65,000 | ||
Carrying Value [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 225,000 | 432,277 | ||
Carrying Value [Member] | Term Loan [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 222,574 | ' | ||
Fair Value (Level 3) [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Investment in TVGN's Mandatorily Redeemable Preferred Stock Units | 152,372 | 140,312 | ||
Fair Value (Level 2) [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt and production loans | 979,596 | 1,062,941 | ||
Fair Value (Level 2) [Member] | Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 105 | 276 | ||
Fair Value (Level 2) [Member] | Convertible Senior Subordinated Notes [Member] | April 2009 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 63,719 | 66,939 | ||
Fair Value (Level 2) [Member] | Convertible Senior Subordinated Notes [Member] | January 2012 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 40,214 | 48,878 | ||
Fair Value (Level 2) [Member] | Convertible Senior Subordinated Notes [Member] | April 2013 Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 48,101 | 0 | ||
Fair Value (Level 2) [Member] | Film Obligations and Production Loans [Member] | Individual Production Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 377,456 | 403,883 | ||
Fair Value (Level 2) [Member] | Film Obligations and Production Loans [Member] | Pennsylvania Regional Center Loans [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Production loans | 0 | 65,000 | ||
Fair Value (Level 2) [Member] | Senior Secured Second-Priority Notes [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | 222,188 | 477,965 | ||
Fair Value (Level 2) [Member] | Term Loan [Member] | ' | ' | ||
Fair Value [Line Items] | ' | ' | ||
Corporate debt | $227,813 | $0 | ||
[1] | 2.9375% Convertible Senior Subordinated Notes issued in October 2004 (the "October 2004 2.9375% Notes"), 3.625% Convertible Senior Subordinated Notes issued in April 2009 (the "April 2009 3.625% Notes"), and 4.00% Convertible Senior Subordinated Notes issued in January 2012 (the "January 2012 4.00% Notes") provide, at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares, as described in the terms below. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method. | |||
[2] | 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes") are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion, as described in the terms below. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component. |
Direct_Operating_Expenses_Dire
Direct Operating Expenses (Direct Operating Expenses) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Direct Operating Costs [Abstract] | ' | ' | ' | ' |
Amortization of films and television programs | $157,136 | $227,567 | $376,500 | $394,664 |
Participations and residual expense | 105,300 | 94,560 | 191,126 | 173,163 |
Other expenses: | ' | ' | ' | ' |
Provision for doubtful accounts | 1,501 | 305 | 1,413 | -382 |
Foreign exchange losses (gains) | -2,139 | 798 | -796 | 1,603 |
Total direct operating expenses | $261,798 | $323,230 | $568,243 | $569,048 |
Net_Income_Per_Share_Basic_Det
Net Income Per Share (Basic) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' | ' | ' |
Net income | $505 | $75,529 | $14,122 | $31,329 |
Denominator: | ' | ' | ' | ' |
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 |
Basic net income per common share | $0 | $0.56 | $0.10 | $0.23 |
Net_Income_Per_Share_Diluted_D
Net Income Per Share (Diluted) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' | ' | ' |
Net income | $505 | $75,529 | $14,122 | $31,329 |
Interest on convertible notes, net of tax | 0 | 2,828 | 0 | 0 |
Numerator for Diluted Net Income Per Common Share | $505 | $78,357 | $14,122 | $31,329 |
Denominator: | ' | ' | ' | ' |
Weighted average common shares outstanding | 137,147 | 134,390 | 136,671 | 133,815 |
Conversion of notes | 0 | 12,613 | 0 | 30 |
Share purchase options | 2,854 | 935 | 2,530 | 402 |
Restricted share units | 680 | 758 | 669 | 363 |
Adjusted weighted average common shares outstanding | 140,681 | 148,696 | 139,870 | 134,610 |
Diluted net income per common share | $0 | $0.53 | $0.10 | $0.23 |
Convertible Senior Subordinated Notes [Member] | October 2004 Notes [Member] | ' | ' | ' | ' |
Diluted Net Income (Loss) Per Common Share [Line Items] | ' | ' | ' | ' |
Coupon rate | 2.94% | ' | 2.94% | ' |
Convertible Senior Subordinated Notes [Member] | February 2005 Notes [Member] | ' | ' | ' | ' |
Diluted Net Income (Loss) Per Common Share [Line Items] | ' | ' | ' | ' |
Coupon rate | 3.63% | 3.63% | 3.63% | 3.63% |
Convertible Senior Subordinated Notes [Member] | April 2009 Notes [Member] | ' | ' | ' | ' |
Diluted Net Income (Loss) Per Common Share [Line Items] | ' | ' | ' | ' |
Coupon rate | 3.63% | 3.63% | 3.63% | 3.63% |
Convertible Senior Subordinated Notes [Member] | January 2012 Notes [Member] | ' | ' | ' | ' |
Diluted Net Income (Loss) Per Common Share [Line Items] | ' | ' | ' | ' |
Coupon rate | 4.00% | ' | 4.00% | ' |
Convertible Senior Subordinated Notes [Member] | April 2013 Notes [Member] | ' | ' | ' | ' |
Diluted Net Income (Loss) Per Common Share [Line Items] | ' | ' | ' | ' |
Coupon rate | 1.25% | ' | 1.25% | ' |
Net_Income_Per_Share_Antidilut
Net Income Per Share (Anti-dilutive Shares Issuable) (Details) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Anti-dilutive shares issuable [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares issuable | 16,553 | 1,228 | 16,309 | 14,451 |
Conversion of Notes [Member] | ' | ' | ' | ' |
Anti-dilutive shares issuable [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares issuable | 13,891 | 0 | 13,856 | 13,287 |
Share Purchase Options [Member] | ' | ' | ' | ' |
Anti-dilutive shares issuable [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares issuable | 2,206 | 634 | 1,990 | 514 |
Restricted Share Units (RSUs) [Member] | ' | ' | ' | ' |
Anti-dilutive shares issuable [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares issuable | 12 | 28 | 20 | 87 |
Contingently Issuable Shares [Member] | ' | ' | ' | ' |
Anti-dilutive shares issuable [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares issuable | 444 | 566 | 443 | 563 |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 6 Months Ended | 3 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Stock Options [Member] | Stock Options [Member] | Restricted Share Units (RSUs) [Member] | Stock Appreciation Rights (SARs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock options granted | 2,595,213 | ' | ' | ' |
Restricted share units granted | ' | ' | 891,270 | ' |
Stock options granted, weighted average grant date fair value, per share | $12.57 | ' | ' | ' |
Granted, weighted average grant date fair value, per share | ' | ' | $27.07 | ' |
Cash-settled SARs exercised | ' | ' | ' | 150,000 |
Cash paid for the exercise of cash-settled SARs | ' | ' | ' | $4 |
Cash-settled SARs converted to options | ' | ' | ' | 733,334 |
Value of cash-settled stock appreciation rights converted to stock options | ' | ' | ' | 17.2 |
Exercised, shares | 1,125,491 | 10,000 | ' | ' |
Exercised, total intrinsic value | 27.1 | 0.1 | ' | ' |
Total unrecognized compensation cost | $58.20 | ' | $29.10 | ' |
Total unrecognized compensation cost, weighted average period for recognition | '2 years 8 months 12 days | ' | '1 year 9 months 18 days | ' |
Capital_Stock_Common_Shares_Re
Capital Stock (Common Shares Reserved for Future Issuance) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Authorized common shares | 500,000,000 | 500,000,000 |
Shares reserved for future issuance | 28,915,000 | 32,974,000 |
Stock Options [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 8,552,000 | 6,421,000 |
Stock options outstanding, average exercise price | 18.25 | 13.72 |
Restricted Share Units (RSUs) - Unvested [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 2,069,000 | 2,077,000 |
Share Purchase Options and Restricted Share Units [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 4,479,000 | 12,341,000 |
October 2004 Notes [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 10,000 | 30,000 |
Conversion price per share | 11.5 | ' |
April 2009 Notes [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 7,819,000 | 7,819,000 |
Conversion price per share | 8.25 | ' |
January 2012 Notes [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 3,986,000 | 4,286,000 |
Conversion price per share | 10.5 | ' |
April 2013 Notes [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Shares reserved for future issuance | 2,000,000 | 0 |
Conversion price per share | 30 | ' |
Performance Incentive Plan of 2012 [Member] | ' | ' |
Common Shares Reserved For Future Issuance [Line Items] | ' | ' |
Number of common shares available for grant under the share-based compensation arrangement plan | 18,300,000 | ' |
Capital_Stock_ShareBased_Compe
Capital Stock (Share-Based Compensation Expense) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Share-Based Compensation Expense [Line Items] | ' | ' | ' | ' | ||||
Total share-based compensation expense | $22,388 | $6,899 | $40,135 | $16,648 | ||||
Tax impact | -8,284 | [1] | 0 | [1] | -14,850 | [1] | 0 | [1] |
Reduction in net income | 14,104 | 6,899 | 25,285 | 16,648 | ||||
Stock Options [Member] | ' | ' | ' | ' | ||||
Share-Based Compensation Expense [Line Items] | ' | ' | ' | ' | ||||
Total share-based compensation expense | 5,971 | 356 | 9,738 | 655 | ||||
Restricted Share Units and Other Share-based Compensation [Member] | ' | ' | ' | ' | ||||
Share-Based Compensation Expense [Line Items] | ' | ' | ' | ' | ||||
Total share-based compensation expense | 8,032 | 4,404 | 15,435 | 11,628 | ||||
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' | ' | ||||
Share-Based Compensation Expense [Line Items] | ' | ' | ' | ' | ||||
Total share-based compensation expense | $8,385 | $2,139 | $14,962 | $4,365 | ||||
[1] | Represents the income tax benefit recognized in the statements of operations for share-based compensation arrangements. |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Line Items] | ' | ' | ' | ' |
Discrete benefit from reversal of valuation allowance against net deferred tax assets in Canadian tax jurisdiction | -12 | ' | -12 | ' |
Exclude Discrete Benefit, Changes In Valuation Allowance and Other Items [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Effective tax rate | 37.10% | 38.90% | 36.50% | 39.60% |
Segment_Information_Segmented_
Segment Information (Segmented Information By Business Unit) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
segment | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of reportable business segments | ' | ' | 2 | ' |
Segment revenues | $498,729 | $706,968 | $1,068,457 | $1,178,788 |
Direct operating expenses | 261,798 | 323,230 | 568,243 | 569,048 |
Distribution and marketing | 145,502 | 236,442 | 316,962 | 415,151 |
Gross segment contribution before general and administration expenses | 91,429 | 147,296 | 183,252 | 194,589 |
General and administration | 19,536 | 18,027 | 38,976 | 37,585 |
Segment profit | 71,893 | 129,269 | 144,276 | 157,004 |
Acquisition of investment in films and television programs | 177,363 | 262,115 | 338,296 | 423,120 |
Motion Pictures [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Segment revenues | 434,397 | 607,972 | 873,042 | 1,014,506 |
Direct operating expenses | 209,893 | 243,325 | 413,173 | 437,007 |
Distribution and marketing | 139,698 | 229,134 | 304,799 | 402,035 |
Gross segment contribution before general and administration expenses | 84,806 | 135,513 | 155,070 | 175,464 |
General and administration | 15,993 | 15,105 | 32,425 | 31,950 |
Segment profit | 68,813 | 120,408 | 122,645 | 143,514 |
Acquisition of investment in films and television programs | 97,371 | 183,483 | 219,610 | 264,534 |
Television Production [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Segment revenues | 64,332 | 98,996 | 195,415 | 164,282 |
Direct operating expenses | 51,905 | 79,905 | 155,070 | 132,041 |
Distribution and marketing | 5,804 | 7,308 | 12,163 | 13,116 |
Gross segment contribution before general and administration expenses | 6,623 | 11,783 | 28,182 | 19,125 |
General and administration | 3,543 | 2,922 | 6,551 | 5,635 |
Segment profit | 3,080 | 8,861 | 21,631 | 13,490 |
Acquisition of investment in films and television programs | $79,992 | $78,632 | $118,686 | $158,586 |
Segment_Information_Reconcilia
Segment Information (Reconciliation Of Total Segment Profit To The Company's Income (Loss) Before Income Taxes) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Companybs total segment profit | $71,893 | $129,269 | $144,276 | $157,004 | ||||
Less: | ' | ' | ' | ' | ||||
Shared services and corporate expenses | -44,237 | [1] | -26,003 | [1] | -81,567 | [1] | -58,789 | [1] |
Depreciation and amortization | -1,611 | -2,115 | -3,236 | -4,220 | ||||
Interest expense | -16,172 | -23,285 | -36,986 | -50,775 | ||||
Interest and other income | 1,483 | 1,029 | 2,979 | 1,979 | ||||
Loss on extinguishment of debt | -36,187 | -1,000 | -36,653 | -9,159 | ||||
Equity interests income | 6,502 | 1,755 | 14,479 | 1,610 | ||||
Income (loss) before income taxes | ($18,329) | $79,650 | $3,292 | $37,650 | ||||
[1] | The following table presents certain charges included in shared services and corporate expenses:B Three Months EndedB Three Months EndedB Six Months EndedB Six Months EndedB SeptemberB 30, 2013B SeptemberB 30, 2012B SeptemberB 30, 2013B SeptemberB 30, 2012B (Amounts in thousands)Share-based compensation expense$22,388B $6,899B $40,135B $16,648Severance and transaction costs related to the acquisition of SummitbB 300B bB 2,027Other shared services and corporate expenses21,849B 18,804B 41,432B 40,114B $44,237B $26,003B $81,567B $58,789 |
Segment_Information_Schedule_o
Segment Information (Schedule of Certain Charges Included in Shared Services and Corporate Expenses) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Schedule of Certain Charges in Shared Services and Corporate Expenses [Line Items] | ' | ' | ' | ' | ||||
Share-based compensation expense | $22,388 | $6,899 | $40,135 | $16,648 | ||||
Other shared services and corporate expenses | 21,849 | 18,804 | 41,432 | 40,114 | ||||
Shared services and corporate expenses | 44,237 | [1] | 26,003 | [1] | 81,567 | [1] | 58,789 | [1] |
Summit Entertainment, LLC [Member] | ' | ' | ' | ' | ||||
Schedule of Certain Charges in Shared Services and Corporate Expenses [Line Items] | ' | ' | ' | ' | ||||
Severance and transaction costs related to the acquisition of Summit | $0 | $300 | $0 | $2,027 | ||||
[1] | The following table presents certain charges included in shared services and corporate expenses:B Three Months EndedB Three Months EndedB Six Months EndedB Six Months EndedB SeptemberB 30, 2013B SeptemberB 30, 2012B SeptemberB 30, 2013B SeptemberB 30, 2012B (Amounts in thousands)Share-based compensation expense$22,388B $6,899B $40,135B $16,648Severance and transaction costs related to the acquisition of SummitbB 300B bB 2,027Other shared services and corporate expenses21,849B 18,804B 41,432B 40,114B $44,237B $26,003B $81,567B $58,789 |
Segment_Information_Significan
Segment Information (Significant Assets Broken Down By Segment And Other Unallocated Assets) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 |
Significant assets by segment | ' | ' | ' | ' | ' |
Accounts receivable | $696,584 | ' | $696,584 | ' | $787,150 |
Investment in films and television programs, net | 1,208,239 | ' | 1,208,239 | ' | 1,244,075 |
Goodwill | 323,328 | ' | 323,328 | ' | 323,328 |
Total allocated assets by segment | 2,228,151 | ' | 2,228,151 | ' | 2,354,553 |
Other unallocated assets (primarily cash, other assets, and equity method investments) | 423,724 | ' | 423,724 | ' | 406,316 |
Total assets | 2,651,875 | ' | 2,651,875 | ' | 2,760,869 |
Purchases of property and equipment | 1,967 | 590 | 3,395 | 976 | ' |
Motion Pictures [Member] | ' | ' | ' | ' | ' |
Significant assets by segment | ' | ' | ' | ' | ' |
Accounts receivable | 460,949 | ' | 460,949 | ' | 551,400 |
Investment in films and television programs, net | 958,562 | ' | 958,562 | ' | 1,002,800 |
Goodwill | 294,367 | ' | 294,367 | ' | 294,367 |
Total allocated assets by segment | 1,713,878 | ' | 1,713,878 | ' | 1,848,567 |
Television Production [Member] | ' | ' | ' | ' | ' |
Significant assets by segment | ' | ' | ' | ' | ' |
Accounts receivable | 235,635 | ' | 235,635 | ' | 235,750 |
Investment in films and television programs, net | 249,677 | ' | 249,677 | ' | 241,275 |
Goodwill | 28,961 | ' | 28,961 | ' | 28,961 |
Total allocated assets by segment | $514,273 | ' | $514,273 | ' | $505,986 |
Consolidating_Financial_Inform2
Consolidating Financial Information - Convertible Senior Subordinated Notes (Narrative) (Details) (Convertible Senior Subordinated Notes [Member]) | Sep. 30, 2013 | Sep. 30, 2012 |
October 2004 Notes [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Coupon rate | 2.94% | ' |
April 2009 Notes [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Coupon rate | 3.63% | 3.63% |
January 2012 Notes [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Coupon rate | 4.00% | ' |
April 2013 Notes [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Coupon rate | 1.25% | ' |
Consolidating_Financial_Inform3
Consolidating Financial Information - Convertible Senior Subordinated Notes (Balance Sheet) (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Mar. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $67,212 | $62,363 | $54,399 | $64,298 |
Restricted cash | 8,122 | 10,664 | ' | ' |
Accounts receivable, net | 696,584 | 787,150 | ' | ' |
Investment in films and television programs, net | 1,208,239 | 1,244,075 | ' | ' |
Property and equipment, net | 10,586 | 8,530 | ' | ' |
Equity method investments | 164,662 | 169,450 | ' | ' |
Goodwill | 323,328 | 323,328 | ' | ' |
Other assets | 80,485 | 72,619 | ' | ' |
Deferred tax assets | 92,657 | 82,690 | ' | ' |
Total assets | 2,651,875 | 2,760,869 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 285,474 | 338,474 | ' | ' |
Senior secured second-priority notes | 225,000 | 432,277 | ' | ' |
July 2013 Term Loan | 222,574 | 0 | ' | ' |
Accounts payable and accrued liabilities | 217,680 | 313,620 | ' | ' |
Participations and residuals | 413,368 | 409,763 | ' | ' |
Film obligations and production loans | 444,161 | 569,019 | ' | ' |
Deferred revenue | 269,067 | 254,023 | ' | ' |
Shareholders' equity (deficiency) | 426,053 | 356,526 | ' | ' |
Total liabilities and shareholders' equity | 2,651,875 | 2,760,869 | ' | ' |
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 67,212 | 62,363 | 54,399 | 64,298 |
Restricted cash | 8,122 | 10,664 | ' | ' |
Accounts receivable, net | 696,584 | 787,150 | ' | ' |
Investment in films and television programs, net | 1,208,239 | 1,244,075 | ' | ' |
Property and equipment, net | 10,586 | 8,530 | ' | ' |
Equity method investments | 164,662 | 169,450 | ' | ' |
Goodwill | 323,328 | 323,328 | ' | ' |
Other assets | 80,485 | 72,619 | ' | ' |
Deferred tax assets | 92,657 | 82,690 | ' | ' |
Subsidiary investments and advances | 0 | 0 | ' | ' |
Total assets | 2,651,875 | 2,760,869 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 285,474 | 338,474 | ' | ' |
Senior secured second-priority notes | 222,574 | 432,277 | ' | ' |
July 2013 Term Loan | 225,000 | ' | ' | ' |
Accounts payable and accrued liabilities | 217,680 | 313,620 | ' | ' |
Participations and residuals | 413,368 | 409,763 | ' | ' |
Film obligations and production loans | 444,161 | 569,019 | ' | ' |
Convertible senior subordinated notes | 148,498 | 87,167 | ' | ' |
Deferred revenue | 269,067 | 254,023 | ' | ' |
Intercompany payable | 0 | 0 | ' | ' |
Shareholders' equity (deficiency) | 426,053 | 356,526 | ' | ' |
Total liabilities and shareholders' equity | 2,651,875 | 2,760,869 | ' | ' |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Corp. [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 1,775 | 592 | 1,036 | 561 |
Restricted cash | 0 | 0 | ' | ' |
Accounts receivable, net | 696 | 655 | ' | ' |
Investment in films and television programs, net | 243 | 246 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Equity method investments | 0 | 0 | ' | ' |
Goodwill | 10,173 | 10,173 | ' | ' |
Other assets | 4,269 | 49,195 | ' | ' |
Deferred tax assets | 12,929 | 0 | ' | ' |
Subsidiary investments and advances | 897,813 | 296,373 | ' | ' |
Total assets | 927,898 | 357,234 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 0 | 0 | ' | ' |
Senior secured second-priority notes | 222,574 | 0 | ' | ' |
July 2013 Term Loan | 225,000 | ' | ' | ' |
Accounts payable and accrued liabilities | 6,261 | 449 | ' | ' |
Participations and residuals | 0 | 186 | ' | ' |
Film obligations and production loans | 0 | 73 | ' | ' |
Convertible senior subordinated notes | 0 | 0 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Intercompany payable | 48,010 | 0 | ' | ' |
Shareholders' equity (deficiency) | 426,053 | 356,526 | ' | ' |
Total liabilities and shareholders' equity | 927,898 | 357,234 | ' | ' |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Inc. [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 35,331 | 36,834 | 8,983 | 477 |
Restricted cash | 8,122 | 9,903 | ' | ' |
Accounts receivable, net | 3,524 | 5,017 | ' | ' |
Investment in films and television programs, net | 6,394 | 6,391 | ' | ' |
Property and equipment, net | 10,146 | 8,019 | ' | ' |
Equity method investments | 5,226 | 8,005 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other assets | 74,070 | 56,544 | ' | ' |
Deferred tax assets | 66,176 | 69,118 | ' | ' |
Subsidiary investments and advances | 869,948 | 451,668 | ' | ' |
Total assets | 1,078,937 | 651,499 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 285,474 | 338,474 | ' | ' |
Senior secured second-priority notes | 0 | 432,277 | ' | ' |
July 2013 Term Loan | 0 | ' | ' | ' |
Accounts payable and accrued liabilities | 39,381 | 104,078 | ' | ' |
Participations and residuals | 3,408 | 3,411 | ' | ' |
Film obligations and production loans | 0 | 0 | ' | ' |
Convertible senior subordinated notes | 148,498 | 87,167 | ' | ' |
Deferred revenue | 13,080 | 14,899 | ' | ' |
Intercompany payable | 904,322 | 0 | ' | ' |
Shareholders' equity (deficiency) | -315,226 | -328,807 | ' | ' |
Total liabilities and shareholders' equity | 1,078,937 | 651,499 | ' | ' |
Convertible Senior Subordinated Notes [Member] | Non-guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 30,106 | 24,937 | 44,380 | 63,260 |
Restricted cash | 0 | 761 | ' | ' |
Accounts receivable, net | 692,364 | 781,478 | ' | ' |
Investment in films and television programs, net | 1,200,153 | 1,238,966 | ' | ' |
Property and equipment, net | 440 | 511 | ' | ' |
Equity method investments | 159,436 | 162,262 | ' | ' |
Goodwill | 313,155 | 313,155 | ' | ' |
Other assets | 8,717 | 15,879 | ' | ' |
Deferred tax assets | 13,552 | 13,572 | ' | ' |
Subsidiary investments and advances | 63,017 | 0 | ' | ' |
Total assets | 2,480,940 | 2,551,521 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 0 | 0 | ' | ' |
Senior secured second-priority notes | 0 | 0 | ' | ' |
July 2013 Term Loan | ' | ' | ' | ' |
Accounts payable and accrued liabilities | 172,170 | 209,258 | ' | ' |
Participations and residuals | 409,931 | 406,077 | ' | ' |
Film obligations and production loans | 444,161 | 568,946 | ' | ' |
Convertible senior subordinated notes | 0 | 49,000 | ' | ' |
Deferred revenue | 255,987 | 239,124 | ' | ' |
Intercompany payable | 251,600 | 320,522 | ' | ' |
Shareholders' equity (deficiency) | 947,091 | 758,594 | ' | ' |
Total liabilities and shareholders' equity | 2,480,940 | 2,551,521 | ' | ' |
Convertible Senior Subordinated Notes [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Accounts receivable, net | 0 | 0 | ' | ' |
Investment in films and television programs, net | 1,449 | -1,528 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Equity method investments | 0 | -817 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Other assets | -6,571 | -48,999 | ' | ' |
Deferred tax assets | 0 | 0 | ' | ' |
Subsidiary investments and advances | -1,830,778 | -748,041 | ' | ' |
Total assets | -1,835,900 | -799,385 | ' | ' |
Liabilities and Shareholders' Equity (Deficiency) | ' | ' | ' | ' |
Senior revolving credit facility | 0 | 0 | ' | ' |
Senior secured second-priority notes | 0 | 0 | ' | ' |
July 2013 Term Loan | 0 | ' | ' | ' |
Accounts payable and accrued liabilities | -132 | -165 | ' | ' |
Participations and residuals | 29 | 89 | ' | ' |
Film obligations and production loans | 0 | 0 | ' | ' |
Convertible senior subordinated notes | 0 | -49,000 | ' | ' |
Deferred revenue | 0 | 0 | ' | ' |
Intercompany payable | -1,203,932 | -320,522 | ' | ' |
Shareholders' equity (deficiency) | -631,865 | -429,787 | ' | ' |
Total liabilities and shareholders' equity | ($1,835,900) | ($799,385) | ' | ' |
Consolidating_Financial_Inform4
Consolidating Financial Information - Convertible Senior Subordinated Notes (Statement of Operations) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | $498,729 | $706,968 | $1,068,457 | $1,178,788 |
Expenses: | ' | ' | ' | ' |
Direct operating | 261,798 | 323,230 | 568,243 | 569,048 |
Distribution and marketing | 145,502 | 236,442 | 316,962 | 415,151 |
General and administration | 63,773 | 44,030 | 120,543 | 96,374 |
Depreciation and amortization | 1,611 | 2,115 | 3,236 | 4,220 |
Total expenses | 472,684 | 605,817 | 1,008,984 | 1,084,793 |
Operating income | 26,045 | 101,151 | 59,473 | 93,995 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | 16,172 | 23,285 | 36,986 | 50,775 |
Interest and other income | -1,483 | -1,029 | -2,979 | -1,979 |
Loss on extinguishment of debt | 36,187 | 1,000 | 36,653 | 9,159 |
Total other expenses (income) | 50,876 | 23,256 | 70,660 | 57,955 |
Income (loss) before equity interests and income taxes | -24,831 | 77,895 | -11,187 | 36,040 |
Equity interests income | 6,502 | 1,755 | 14,479 | 1,610 |
Income (loss) before income taxes | -18,329 | 79,650 | 3,292 | 37,650 |
Income tax provision (benefit) | -18,834 | 4,121 | -10,830 | 6,321 |
Foreign currency translation adjustments | 3,038 | 2,999 | 3,587 | 1,078 |
Net unrealized loss on foreign exchange contracts | -320 | -512 | -656 | -17 |
Comprehensive income (loss) | 3,223 | 78,016 | 17,053 | 32,390 |
Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ' |
Revenues | ' | ' | 1,068,457 | 1,178,788 |
Expenses: | ' | ' | ' | ' |
Direct operating | ' | ' | 568,243 | 569,048 |
Distribution and marketing | ' | ' | 316,962 | 415,151 |
General and administration | ' | ' | 120,543 | 96,374 |
Depreciation and amortization | ' | ' | 3,236 | 4,220 |
Total expenses | ' | ' | 1,008,984 | 1,084,793 |
Operating income | ' | ' | 59,473 | 93,995 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | ' | ' | 36,986 | 50,775 |
Interest and other income | ' | ' | -2,979 | -1,979 |
Loss on extinguishment of debt | ' | ' | 36,653 | 9,159 |
Total other expenses (income) | ' | ' | 70,660 | 57,955 |
Income (loss) before equity interests and income taxes | ' | ' | -11,187 | 36,040 |
Equity interests income | ' | ' | 14,479 | 1,610 |
Income (loss) before income taxes | ' | ' | 3,292 | 37,650 |
Income tax provision (benefit) | ' | ' | -10,830 | 6,321 |
Net income (loss) | ' | ' | 14,122 | 31,329 |
Foreign currency translation adjustments | ' | ' | 3,587 | 1,078 |
Net unrealized loss on foreign exchange contracts | ' | ' | -656 | -17 |
Comprehensive income (loss) | ' | ' | 17,053 | 32,390 |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Corp. [Member] | ' | ' | ' | ' |
Revenues | ' | ' | 6,748 | 0 |
Expenses: | ' | ' | ' | ' |
Direct operating | ' | ' | -255 | 0 |
Distribution and marketing | ' | ' | 0 | -1 |
General and administration | ' | ' | 805 | 902 |
Depreciation and amortization | ' | ' | 0 | 0 |
Total expenses | ' | ' | 550 | 901 |
Operating income | ' | ' | 6,198 | -901 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | ' | ' | 5,340 | 0 |
Interest and other income | ' | ' | -7,614 | -6 |
Loss on extinguishment of debt | ' | ' | 2,600 | 0 |
Total other expenses (income) | ' | ' | 326 | -6 |
Income (loss) before equity interests and income taxes | ' | ' | 5,872 | -895 |
Equity interests income | ' | ' | -4,672 | 32,224 |
Income (loss) before income taxes | ' | ' | 1,200 | 31,329 |
Income tax provision (benefit) | ' | ' | -12,922 | 0 |
Net income (loss) | ' | ' | 14,122 | 31,329 |
Foreign currency translation adjustments | ' | ' | 2,931 | 1,061 |
Net unrealized loss on foreign exchange contracts | ' | ' | 0 | 0 |
Comprehensive income (loss) | ' | ' | 17,053 | 32,390 |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Inc. [Member] | ' | ' | ' | ' |
Revenues | ' | ' | 15,078 | 7,660 |
Expenses: | ' | ' | ' | ' |
Direct operating | ' | ' | -1,524 | 1,166 |
Distribution and marketing | ' | ' | 1,936 | 1,084 |
General and administration | ' | ' | 79,986 | 57,149 |
Depreciation and amortization | ' | ' | 1,072 | 905 |
Total expenses | ' | ' | 81,470 | 60,304 |
Operating income | ' | ' | -66,392 | -52,644 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | ' | ' | 37,191 | 35,184 |
Interest and other income | ' | ' | -2,161 | -1,735 |
Loss on extinguishment of debt | ' | ' | 34,053 | 633 |
Total other expenses (income) | ' | ' | 69,083 | 34,082 |
Income (loss) before equity interests and income taxes | ' | ' | -135,475 | -86,726 |
Equity interests income | ' | ' | 128,059 | 118,254 |
Income (loss) before income taxes | ' | ' | -7,416 | 31,528 |
Income tax provision (benefit) | ' | ' | -2,744 | 2,392 |
Net income (loss) | ' | ' | -4,672 | 29,136 |
Foreign currency translation adjustments | ' | ' | 18,247 | 2,358 |
Net unrealized loss on foreign exchange contracts | ' | ' | 0 | 0 |
Comprehensive income (loss) | ' | ' | 13,575 | 31,494 |
Convertible Senior Subordinated Notes [Member] | Non-guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Revenues | ' | ' | 1,055,142 | 1,171,128 |
Expenses: | ' | ' | ' | ' |
Direct operating | ' | ' | 570,022 | 567,882 |
Distribution and marketing | ' | ' | 315,026 | 414,068 |
General and administration | ' | ' | 40,057 | 38,577 |
Depreciation and amortization | ' | ' | 2,164 | 3,315 |
Total expenses | ' | ' | 927,269 | 1,023,842 |
Operating income | ' | ' | 127,873 | 147,286 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | ' | ' | 2,454 | 16,091 |
Interest and other income | ' | ' | -1,203 | -738 |
Loss on extinguishment of debt | ' | ' | 0 | 8,526 |
Total other expenses (income) | ' | ' | 1,251 | 23,879 |
Income (loss) before equity interests and income taxes | ' | ' | 126,622 | 123,407 |
Equity interests income | ' | ' | 18,008 | 4,006 |
Income (loss) before income taxes | ' | ' | 144,630 | 127,413 |
Income tax provision (benefit) | ' | ' | 53,049 | 3,929 |
Net income (loss) | ' | ' | 91,581 | 123,484 |
Foreign currency translation adjustments | ' | ' | 11,974 | 460 |
Net unrealized loss on foreign exchange contracts | ' | ' | -656 | -17 |
Comprehensive income (loss) | ' | ' | 102,899 | 123,927 |
Convertible Senior Subordinated Notes [Member] | Consolidating Adjustments [Member] | ' | ' | ' | ' |
Revenues | ' | ' | -8,511 | 0 |
Expenses: | ' | ' | ' | ' |
Direct operating | ' | ' | 0 | 0 |
Distribution and marketing | ' | ' | 0 | 0 |
General and administration | ' | ' | -305 | -254 |
Depreciation and amortization | ' | ' | 0 | 0 |
Total expenses | ' | ' | -305 | -254 |
Operating income | ' | ' | -8,206 | 254 |
Other expenses (income): | ' | ' | ' | ' |
Interest expense | ' | ' | -7,999 | -500 |
Interest and other income | ' | ' | 7,999 | 500 |
Loss on extinguishment of debt | ' | ' | 0 | 0 |
Total other expenses (income) | ' | ' | 0 | 0 |
Income (loss) before equity interests and income taxes | ' | ' | -8,206 | 254 |
Equity interests income | ' | ' | -126,916 | -152,874 |
Income (loss) before income taxes | ' | ' | -135,122 | -152,620 |
Income tax provision (benefit) | ' | ' | -48,213 | 0 |
Net income (loss) | ' | ' | -86,909 | -152,620 |
Foreign currency translation adjustments | ' | ' | -29,565 | -2,801 |
Net unrealized loss on foreign exchange contracts | ' | ' | 0 | 0 |
Comprehensive income (loss) | ' | ' | ($116,474) | ($155,421) |
Consolidating_Financial_Inform5
Consolidating Financial Information - Convertible Senior Subordinated Notes (Statement of Cash Flows) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | $110,571 | $142,135 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 9,000 | 0 |
Investment in equity method investees | -3,750 | 0 |
Dividends from equity method investee in excess of earnings | 4,169 | 0 |
Repayment of loans receivable | 3,000 | 4,274 |
Purchases of property and equipment | -3,395 | -976 |
Net Cash Flows Provided By (Used In) Investing Activities | 9,024 | 3,298 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 428,100 | 666,226 |
Senior revolving credit facility - repayments | -481,100 | -512,450 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | 224,593 | 0 |
Senior secured second-priority notes - repurchases and redemptions | -470,584 | 0 |
July 2013 Term Loan - borrowings, net of deferred financing costs | 218,213 | 0 |
Summit Term Loan - repayments | 0 | -185,504 |
Convertible senior subordinated notes - borrowings | 60,000 | 0 |
Convertible senior subordinated notes - repurchases | 0 | -7,639 |
Production loans - borrowings | 169,427 | 112,845 |
Production loans - repayments | -196,098 | -221,985 |
Pennsylvania Regional Center credit facility - repayments | -65,000 | 0 |
Exercise of stock options | 9,120 | 52 |
Tax withholding required on equity awards | -11,257 | -4,005 |
Other financing obligations - repayments | 0 | -3,710 |
Net Cash Flows Used In Financing Activities | -114,586 | -156,170 |
Net Change In Cash And Cash Equivalents | 5,009 | -10,737 |
Foreign Exchange Effects on Cash | -160 | 838 |
Cash and Cash Equivalents - Beginning Of Period | 62,363 | 64,298 |
Cash and Cash Equivalents - End Of Period | 67,212 | 54,399 |
Convertible Senior Subordinated Notes [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | 110,571 | 142,135 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 9,000 | ' |
Investment in equity method investees | -3,750 | ' |
Dividends from equity method investee in excess of earnings | 4,169 | ' |
Repayment of loans receivable | 3,000 | 4,274 |
Purchases of property and equipment | -3,395 | -976 |
Net Cash Flows Provided By (Used In) Investing Activities | 9,024 | 3,298 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 428,100 | 666,226 |
Senior revolving credit facility - repayments | -481,100 | -512,450 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | 224,593 | ' |
Senior secured second-priority notes - repurchases and redemptions | -470,584 | ' |
July 2013 Term Loan - borrowings, net of deferred financing costs | 218,213 | ' |
Summit Term Loan - repayments | ' | -185,504 |
Convertible senior subordinated notes - borrowings | 60,000 | ' |
Convertible senior subordinated notes - repurchases | ' | -7,639 |
Production loans - borrowings | 169,427 | 112,845 |
Production loans - repayments | -196,098 | -221,985 |
Pennsylvania Regional Center credit facility - repayments | -65,000 | ' |
Change in restricted cash collateral associated with financing activities | ' | 0 |
Exercise of stock options | 9,120 | 52 |
Tax withholding required on equity awards | -11,257 | -4,005 |
Other financing obligations - repayments | ' | -3,710 |
Net Cash Flows Used In Financing Activities | -114,586 | -156,170 |
Net Change In Cash And Cash Equivalents | 5,009 | -10,737 |
Foreign Exchange Effects on Cash | -160 | 838 |
Cash and Cash Equivalents - Beginning Of Period | 62,363 | 64,298 |
Cash and Cash Equivalents - End Of Period | 67,212 | 54,399 |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Corp. [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | -439,477 | 4,433 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 0 | ' |
Investment in equity method investees | 0 | ' |
Dividends from equity method investee in excess of earnings | ' | ' |
Repayment of loans receivable | 0 | 0 |
Purchases of property and equipment | 0 | 0 |
Net Cash Flows Provided By (Used In) Investing Activities | 0 | 0 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 0 | 0 |
Senior revolving credit facility - repayments | 0 | 0 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | 224,593 | ' |
Senior secured second-priority notes - repurchases and redemptions | 0 | ' |
July 2013 Term Loan - borrowings, net of deferred financing costs | 218,213 | ' |
Summit Term Loan - repayments | ' | 0 |
Convertible senior subordinated notes - borrowings | 0 | ' |
Convertible senior subordinated notes - repurchases | ' | 0 |
Production loans - borrowings | 0 | 0 |
Production loans - repayments | 0 | 0 |
Pennsylvania Regional Center credit facility - repayments | ' | ' |
Change in restricted cash collateral associated with financing activities | ' | 0 |
Exercise of stock options | 9,120 | 52 |
Tax withholding required on equity awards | -11,257 | -4,005 |
Other financing obligations - repayments | ' | 0 |
Net Cash Flows Used In Financing Activities | 440,669 | -3,953 |
Net Change In Cash And Cash Equivalents | 1,192 | 480 |
Foreign Exchange Effects on Cash | -9 | -5 |
Cash and Cash Equivalents - Beginning Of Period | 592 | 561 |
Cash and Cash Equivalents - End Of Period | 1,775 | 1,036 |
Convertible Senior Subordinated Notes [Member] | Lions Gate Entertainment Inc. [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | 466,030 | -136,699 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 0 | ' |
Investment in equity method investees | -750 | ' |
Dividends from equity method investee in excess of earnings | ' | ' |
Repayment of loans receivable | 0 | 0 |
Purchases of property and equipment | -3,199 | -932 |
Net Cash Flows Provided By (Used In) Investing Activities | -3,949 | -932 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 428,100 | 666,226 |
Senior revolving credit facility - repayments | -481,100 | -512,450 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | ' | ' |
Senior secured second-priority notes - repurchases and redemptions | -470,584 | ' |
July 2013 Term Loan - borrowings, net of deferred financing costs | ' | ' |
Summit Term Loan - repayments | ' | 0 |
Convertible senior subordinated notes - borrowings | 60,000 | ' |
Convertible senior subordinated notes - repurchases | ' | -7,639 |
Production loans - borrowings | 0 | 0 |
Production loans - repayments | 0 | 0 |
Pennsylvania Regional Center credit facility - repayments | ' | ' |
Change in restricted cash collateral associated with financing activities | ' | 0 |
Exercise of stock options | 0 | 0 |
Tax withholding required on equity awards | 0 | 0 |
Other financing obligations - repayments | ' | 0 |
Net Cash Flows Used In Financing Activities | -463,584 | 146,137 |
Net Change In Cash And Cash Equivalents | -1,503 | 8,506 |
Foreign Exchange Effects on Cash | 0 | 0 |
Cash and Cash Equivalents - Beginning Of Period | 36,834 | 477 |
Cash and Cash Equivalents - End Of Period | 35,331 | 8,983 |
Convertible Senior Subordinated Notes [Member] | Non-guarantor Subsidiaries [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | 84,018 | 274,401 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 9,000 | ' |
Investment in equity method investees | -3,000 | ' |
Dividends from equity method investee in excess of earnings | 4,169 | ' |
Repayment of loans receivable | 3,000 | 4,274 |
Purchases of property and equipment | -196 | -44 |
Net Cash Flows Provided By (Used In) Investing Activities | 12,973 | 4,230 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 0 | 0 |
Senior revolving credit facility - repayments | 0 | 0 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | ' | ' |
Senior secured second-priority notes - repurchases and redemptions | 0 | ' |
July 2013 Term Loan - borrowings, net of deferred financing costs | ' | ' |
Summit Term Loan - repayments | ' | -185,504 |
Convertible senior subordinated notes - borrowings | 0 | ' |
Convertible senior subordinated notes - repurchases | ' | 0 |
Production loans - borrowings | 169,427 | 112,845 |
Production loans - repayments | -196,098 | -221,985 |
Pennsylvania Regional Center credit facility - repayments | -65,000 | ' |
Change in restricted cash collateral associated with financing activities | ' | 0 |
Exercise of stock options | 0 | 0 |
Tax withholding required on equity awards | 0 | 0 |
Other financing obligations - repayments | ' | -3,710 |
Net Cash Flows Used In Financing Activities | -91,671 | -298,354 |
Net Change In Cash And Cash Equivalents | 5,320 | -19,723 |
Foreign Exchange Effects on Cash | -151 | 843 |
Cash and Cash Equivalents - Beginning Of Period | 24,937 | 63,260 |
Cash and Cash Equivalents - End Of Period | 30,106 | 44,380 |
Convertible Senior Subordinated Notes [Member] | Consolidating Adjustments [Member] | ' | ' |
Consolidating Financial Information [Line Items] | ' | ' |
Net Cash Flows Provided By (Used In) Operating Activities | 0 | 0 |
Investing Activities: | ' | ' |
Proceeds from the sale of a portion of equity method investee | 0 | ' |
Investment in equity method investees | 0 | ' |
Dividends from equity method investee in excess of earnings | ' | ' |
Repayment of loans receivable | 0 | 0 |
Purchases of property and equipment | 0 | 0 |
Net Cash Flows Provided By (Used In) Investing Activities | 0 | 0 |
Financing Activities: | ' | ' |
Senior revolving credit facility - borrowings, net of deferred financing costs in 2012 | 0 | 0 |
Senior revolving credit facility - repayments | 0 | 0 |
Senior secured second-priority notes - borrowings, net of deferred financing costs | ' | ' |
Senior secured second-priority notes - repurchases and redemptions | 0 | ' |
July 2013 Term Loan - borrowings, net of deferred financing costs | ' | ' |
Summit Term Loan - repayments | ' | 0 |
Convertible senior subordinated notes - borrowings | 0 | ' |
Convertible senior subordinated notes - repurchases | ' | 0 |
Production loans - borrowings | 0 | 0 |
Production loans - repayments | 0 | 0 |
Pennsylvania Regional Center credit facility - repayments | ' | ' |
Change in restricted cash collateral associated with financing activities | ' | 0 |
Exercise of stock options | 0 | 0 |
Tax withholding required on equity awards | 0 | 0 |
Other financing obligations - repayments | ' | 0 |
Net Cash Flows Used In Financing Activities | 0 | 0 |
Net Change In Cash And Cash Equivalents | 0 | 0 |
Foreign Exchange Effects on Cash | 0 | 0 |
Cash and Cash Equivalents - Beginning Of Period | 0 | 0 |
Cash and Cash Equivalents - End Of Period | $0 | $0 |
Supplementary_Cash_Flow_Statem2
Supplementary Cash Flow Statement Information (Non-Cash Investing and Financing Activities) (Details) (Convertible Senior Subordinated Notes [Member], USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Non-cash Financing Activities [Line Items] | ' | ' |
Principal amount of convertible senior subordinated notes converted into common shares | $3,150 | $17,897 |
February 2005 Notes [Member] | ' | ' |
Non-cash Financing Activities [Line Items] | ' | ' |
Principal amount of convertible senior subordinated notes converted into common shares | 0 | 15,825 |
Common shares issued for convertible senior subordinated notes | ' | 1,107,950 |
Coupon rate | 3.63% | 3.63% |
April 2009 Notes [Member] | ' | ' |
Non-cash Financing Activities [Line Items] | ' | ' |
Principal amount of convertible senior subordinated notes converted into common shares | 0 | 2,072 |
Common shares issued for convertible senior subordinated notes | ' | 122,060 |
Coupon rate | 3.63% | 3.63% |
January 2012 Notes [Member] | ' | ' |
Non-cash Financing Activities [Line Items] | ' | ' |
Principal amount of convertible senior subordinated notes converted into common shares | $3,150 | $0 |
Common shares issued for convertible senior subordinated notes | 299,999 | ' |
Coupon rate | 4.00% | ' |