XML 26 R12.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Equity Method Investment | 12 Months Ended
--- | ---
Dec. 31, 2017
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. In connection with the amendment, the Company and Discovery entered into an option agreement 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. At December 31, 2017, and December 25, 2016, the fair market value of this option was $2 3,980 and $28,770, respectively and was included as a component of other liabilities. During 2017, 2016 and 2015, the Company recorded (gains) losses of $(4,790), $410 and $3,020 in other (income) expense, net relating to the change in fair value of this option. T he Company also has a related liability due to Discovery under the existing tax sharing agreement. The balance of the associated liability, including i mputed interest, was $30,043 and $5 2,473 at December 31, 2017 and December 25, 201 6, respectively, and is included as a component of other liabilities in the accompanying consolidated balance sheets. The Company recognized a gain of $19,911 in the fourth quarter of 2017 related to a reduction of this liability due to the reduction of the future payments under the agreement as a result of U.S. tax reform passed in December 2017. During 2017, 2016 and 2015, the Company made payments under the tax sharing agreement to Discovery of $6,785, $6,520 and $4,971, 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 fr om 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 approxima tely a 10-year period. As of December 31, 2017 and December 25, 201 6, the Company had $55,072 and $66,017, respectively, of prepaid royalties related to this agreement, $15,958 and $7,203, respectively, of which are included in prepaid expenses and other current assets and $39,114 and $58,814, respectively, of which are i ncluded 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 in tellectual 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 31, 2017 and December 25, 2016 the Company's investment in the Network totaled $237,996 and $2 42,397, respectively. The Company's share in the earnings of the Network for the years ended December 31, 2017, December 25, 2016 and December 27, 2015 totaled $23,270, $23,764 and $19,045, respectively and is included as a component of other (income) expense, net in the consolidated statements of operation s. The Company also enters into certain other transactions with the Network including the licensing of television programming and the purchase of advertising. During 2017, 2016 and 2015, these transactions were not material.

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration