Investments (Tables)

9 Months Ended

Dec. 31, 2016

Equity Method Investments, Cost Method Investments, and Investments in Debt and Equity [Abstract]

Carrying Amount of Investments, By Category

The carrying amounts of investments, by category, at December 31, 2016 and March 31, 2016 were as follows:



	December 31, 2016		March 31, 2016
	(Amounts in millions)
Equity method investments	$	314	$	297
Available-for-sale securities	—		124
Cost method investments	43		43
	$	357	$	464

Schedule of Equity Method Investments [Line Items]

Carrying Amount of Equity Method Investments

The carrying amounts of equity method investments at December 31, 2016 and March 31, 2016 were as follows:



	December 31, 2016
Equity Method Investee	Ownership Percentage	December 31, 2016		March 31, 2016
		(Amounts in millions)
EPIX	31.2%	$	179	$	172
Pop	50.0%	94		99
Other	Various	41		26
		$	314	$	297

Equity Method Investee, Income (Loss)

Equity interests in equity method investments for the three and nine months ended December 31, 2016 and 2015 were as follows (income (loss)):



	Three Months Ended						Nine Months Ended
	December 31,						December 31,
Equity Method Investee	2016			2015			2016			2015
	(Amounts in millions)
EPIX	$	5		$	13		$	21		$	34
Pop	(3		)	—			(5		)	1
Other	(4		)	(2		)	(5		)	(6		)
	$	(2	)	$	11		$	11		$	29

Available-for-sale Securities [Abstract]

Available-for-sale Securities

The cost basis, unrealized losses and fair market value of available-for-sale securities were as set forth below:



	March 31, 2016
	(Amounts in millions)
Cost basis	$	159
Gross unrealized loss	(35		)
Fair value	$	124

EPIX

Schedule of Equity Method Investments [Line Items]

Summarized Balance Sheet

The following table presents summarized balance sheet data as of December 31, 2016 and March 31, 2016 for EPIX:



	December 31, 2016		March 31, 2016
	(Amounts in millions)
Current assets	$	386	$	356
Non-current assets	$	393	$	360
Current liabilities	$	113	$	91
Non-current liabilities	$	23	$	24

Summarized Statement of Income

The following table presents the summarized statements of income for the three and nine months ended December 31, 2016 and 2015 for EPIX and a reconciliation of the net income reported by EPIX to equity interest income recorded by the Company:



	Three Months Ended						Nine Months Ended
	December 31,						December 31,
	2016			2015			2016			2015
	(Amounts in millions)
Revenues	$	101		$	98		$	298		$	315
Expenses:
Operating expenses	73			56			194			190
Selling, general and administrative expenses	5			6			18			18
Operating income	23			36			86			107
Interest and other expense	—			—			—			(2		)
Net income	$	23		$	36		$	86		$	105
Reconciliation of net income reported by EPIX to equity interest income:
Net income reported by EPIX	$	23		$	36		$	86		$	105
Ownership interest in EPIX	31.15		%	31.15		%	31.15		%	31.15		%
The Company's share of net income	7			11			27			33
Eliminations of the Company’s share of profits on licensing sales to EPIX⁽¹⁾	(4		)	—			(10		)	(6		)
Realization of the Company’s share of profits on licensing sales to EPIX⁽²⁾	2			2			4			7
Total equity interest income recorded	$	5		$	13		$	21		$	34

_________________________


(1)	Represents the elimination of the gross profit recognized by the Company on licensing sales to EPIX in proportion to the Company's ownership interest in EPIX.


(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.