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Debt (Tables)

9 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Debt, Excluding Film Obligations and Production Loans

Total debt of the Company, excluding film obligations and production loans, was as follows as of December 31, 2016 and March 31, 2016:

	December 31, 2016				March 31, 2016
	(Amounts in millions)
Corporate debt:
Revolving credit facilities	$	—			$	161
Term Loan A	1,000				—
Term Loan B	2,000				—
5.875% Senior Notes	520				—
5.25% Senior Notes	—				225
Term Loan Due 2022	—				400
Total corporate debt	3,520				786
Convertible senior subordinated notes	102				102
Capital lease obligations	59				—
Total debt	3,681				888
Unamortized discount and debt issuance costs, net of fair value adjustment on capital lease obligations	(106		)		(23		)
Total debt, net	3,575				865
Less current portion	(118		)		(40		)
Non-current portion of debt	$	3,457			$	825

Future Annual Contractual Principal Payment Commitments of Debt

The following table sets forth future annual contractual principal payment commitments of debt as of December 31, 2016:

		Maturity Date		Year Ended March 31,
Debt Type				2017				2018				2019				2020				2021				Thereafter				Total
				(Amounts in millions)
Revolving credit facility		December 2021		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Term Loan A		December 2021		13				50				55				77				100				705				1,000
Term Loan B		December 2023		5				20				20				20				20				1,915				2,000
5.875% Senior Notes		November 2024		—				—				—				—				—				520				520
Capital lease obligations		Various		1				6				6				4				3				39				59
Principal amounts of convertible senior subordinated notes:
January 2012 4.00% Notes		January 2017		42				—				—				—				—				—				42
April 2013 1.25% Notes		April 2018		—				—				60				—				—				—				60
				$	61			$	76			$	141			$	101			$	123			$	3,179			3,681
Less aggregate unamortized discount & debt issuance costs, net of fair value adjustment on capital lease obligations																												(106		)
																												$	3,575

Convertible Senior Subordinated Notes Outstanding and Certain Key Terms

The following table sets forth the convertible senior subordinated notes outstanding and certain key terms of these notes at December 31, 2016 and March 31, 2016:

		Maturity Date		Conversion Price Per Share at December 31, 2016		December 31, 2016												March 31, 2016
Convertible Senior Subordinated Notes						Principal				Unamortized Discount & Debt Issuance Costs				Net Carrying Amount				Principal				Unamortized Discount & Debt Issuance Costs				Net Carrying Amount
						(Amounts in millions)
January 2012 4.00% Notes		January 11, 2017		$10.21		$	42			$	—			$	42			$	42			$	(2	)		$	40
April 2013 1.25% Notes		April 15, 2018		$29.19		60				—				60				60				—				60
						$	102			$	—			$	102			$	102			$	(2	)		$	100

Conversions of Convertible Senior Subordinated Notes

The following conversions were completed with respect to the Company's convertible senior subordinated notes in the nine months ended December 31, 2015 (none in the nine months ended December 31, 2016). In January 2017, the outstanding principal amount of the January 2012 4.00% Notes was converted; see Subsequent Events Note 20 for further details.

	Nine Months Ended
	December 31,
	2015
	(Amounts in millions)
April 2009 3.625% Notes
Principal amount converted	$	16
Common shares issued upon conversion	2
Weighted average conversion price per share	$	8.15

Summary of Loss on Extinguishment of Debt

The following table summarizes the loss on extinguishment of debt recorded in the three and nine months ended December 31, 2016:

	(in millions)
Loss on Extinguishment of Debt
Senior revolving credit facility	$	1
Term Loan Due 2022 & 5.25% Senior Notes	24
Starz credit facility & Starz Senior Notes	3
	$	28

Revolving Credit Facility

Debt Instrument [Line Items]

Costs Associated with Issuance and Contemporaneous Redemption of Debt

The table below sets forth the applicable costs associated with the issuance and repayment of the senior revolving credit facility:

	Total				Amortize Over Life of New Revolving Credit Facility				Loss on Extinguishment of Debt
	(Amounts in millions)
Previously incurred unamortized debt issuance costs of senior revolving credit facility	$	3			$	2			$	1
New costs incurred to issue the new revolving credit facility	20				20				—
Total	$	23			$	22			$	1

Senior Secured Second-Priority Notes | Term Loan Due 2022 & 5.25% Senior Notes

Debt Instrument [Line Items]

Costs Associated with Issuance and Contemporaneous Redemption of Debt

The table below sets forth the applicable costs associated with the issuance of the Term Loan A, the Term Loan B, and the 5.875% Senior Notes and the redemption of the Term Loan Due 2022 and the 5.25% Senior Notes, respectively (as discussed above), and the applicable accounting for such:

	Total				Amortize Over Life of 5.875% Senior Notes, Term Loan A and Term Loan B				Loss on Extinguishment of Debt
	(Amounts in millions)
Early redemption/ call premium on 5.25% Senior Notes and Term Loan Due 2022 and other fees paid to creditors	$	23			$	11			$	12
Previously incurred unamortized net discount/premium and debt issuance costs of 5.25% Senior Notes and Term Loan Due 2022	13				9				4
	36				20				16
New costs incurred to issue the 5.875% Senior Notes, Term Loan A and Term Loan B	92				84				8
Total	$	128			$	104			$	24

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