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Equity Method Investment | 12 Months Ended
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Dec. 25, 2016
Equity Method Investment [Abstract] |
Equity Method Investment | (5) Equity Method Investment The Company owns an interest in a joint venture, Discovery Family Channel (the "Network"), with Discovery Communications, Inc. ("Discovery"). The Company has determined that it does not meet the control requirements to consolidate the Network and accounts for the investment using the equity method of accounting. The Network was established to create a cable television network in the United States dedicated to high-quality children's and family entertainment. In October 2009, the Company purchased an initial 50% share in the Network for a payment of $300,000 and certain future tax payments based on the value of certain tax benefits expected to be received by the Company. On September 23, 2014, the Company and Discovery amended their relationship with respect to the Network and Discovery increased its equity interest in the Network to 60% while the Company retained a 40% equity interest in the Network. The change in equity interests was accomplished partly through a redemption of interests owned by the Company and partly through the purchase of interests by Discovery from the Company. In connection with this reduction in its equity ownership the Company was paid a cash purchase price of $64,400 by Discovery. In connection with the restructuring of the Network in 2014, the Company recognized a net expense of $28,326, which includes a charge resulting from an option agreement and the Company's share of severance charges and programming write-downs recognized by the Network, partially offset by a gain from the reduc tion of amounts due to Discovery under a tax sharing agreement and is primarily included in other (income) expense, net in the consolidated statements of operations. In connection with the amendment, the Company and Discovery entered into an option agree ment related to the Company's remaining 40% ownership in the Network, exercisable during the one-year period following December 31, 2021. The exercise price of the option agreement is based upon 80% of the then fair market value of the Network, subject to a fair market value floor. In connection with the amendment, the Company recorded a charge in other expense in the third quarter of 2014, related to the then fair market value of the option agreement totaling $25,590. At December 25, 2016, and December 27, 2015, the fair market value of this option was $28,770 and $28,360, respectively and was included as a component of other liabilities. During 2016, 2015 and 2014, the Company recorded losses (gains) of $410, $3,020 and $(250) in other expense (income), ne t relating to the change in fair value of this option. As a result of the reduction in the Company's ownership in the Network, the Company also received a benefit from a reduction in amounts due to Discovery under the existing tax sharing agreement. The present value of the expected future payments at the acquisi tion date totaled approximately $67,900 and was recorded as a component of the Company's investment in the joint venture. For the year ended December 28, 2014 the Company recorded a net benefit in other expense (income), net related to the reduction in the amounts due to Discovery under the tax sharing agreement totaling $12,834. The balance of the associated liability, including imputed interest, was $52,473 and $54,521 at December 25, 2016 and De cember 27, 2015, respectively, and is included as a component of other liabilities in the accompanying consolidated balance sheets. During 2016, 2015 and 2014, the Company made payments under the tax sharing agreement to Discovery of $6,520, $4,971 and $7,010, respectively. The Company has a license agreement with the Network that requires the payment of royalties by the Company to the Network based on a percentage of revenue derived from products related to television shows broadcast by the joint venture. The license includes a minimum royalty guarantee of $125,000, which was paid in five annual installments of $25,000 per year, commencing in 2009, which can be earned out over approximately a 10-year period. In connection with the 2014 amendment, the term s of this license were modified resulting in a benefit recorded to royalties totaling $2,328 in the consolidated statements of operations. As of December 25, 2016 and December 27, 2015, the Company had $66,017 and $77,482, respectively, of prepaid royalti es related to this agreement, $7,203 and $14,235, respectively, of which are included in prepaid expenses and other current assets and $58,814 and $63,247, respectively, of which are included in other assets. The Company and the Network are also parties to an agreement under which the Company will provide the Network with an exclusive first look in the U.S. to license certain types of programming developed by the Company based on its intellectual property. In the event the Network licenses the programming from the Company to air, it is required to pay the Company a license fee. As of December 25, 2016 and December 27, 2015 the Company's investment in the Network totaled $242,397 and $242,932, respectively. The Company's share in the (earnings) loss of the Network for the years ended December 25, 2016, December 27, 2015 and December 28, 2014 totaled $(23,764), $(19,045) and $9,187, respectively and is included as a component of other (income) expense, net in the accompanying consolidated statements of operat ions. In 2014, the Company's share in the loss of the Network included charges related to its restructuring totaling $17,278. The Company also enters into certain other transactions with the Network including the licensing of television programming and th e purchase of advertising. During 2016, 2015 and 2014, these transactions were not material.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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