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Segment Information (Tables) | 3 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Segment Information By Business Unit | Segment information by business unit is presented in the table below:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Segment revenues |  |  |
Motion Pictures | $ | 365.3 |  |  | $ | 472.4 |
Television Production | 279.4 |  |  | 261.2 |
Media Networks | 354.9 |  |  | 344.6 |
Intersegment eliminations | (66.9 | ) |  | (72.9 | )
| $ | 932.7 |  |  | $ | 1,005.3 |
Intersegment revenues |  |  |
Motion Pictures | $ | 2.1 |  |  | $ | 5.1 |
Television Production | 64.8 |  |  | 67.8 |
Media Networks | — |  |  | — |
| $ | 66.9 |  |  | $ | 72.9 |
Gross contribution |  |  |
Motion Pictures | $ | 78.5 |  |  | $ | 113.8 |
Television Production | 26.0 |  |  | 52.3 |
Media Networks | 114.1 |  |  | 114.5 |
Intersegment eliminations | (11.2 | ) |  | (12.0 | )
| $ | 207.4 |  |  | $ | 268.6 |
Segment general and administration |  |  |
Motion Pictures | $ | 26.9 |  |  | $ | 26.9 |
Television Production | 10.4 |  |  | 9.1 |
Media Networks | 25.6 |  |  | 25.6 |
| $ | 62.9 |  |  | $ | 61.6 |
Segment profit |  |  |
Motion Pictures | $ | 51.6 |  |  | $ | 86.9 |
Television Production | 15.6 |  |  | 43.2 |
Media Networks | 88.5 |  |  | 88.9 |
Intersegment eliminations | (11.2 | ) |  | (12.0 | )
| $ | 144.5 |  |  | $ | 207.0 |
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
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Company’s total segment profit | $ | 144.5 |  |  | $ | 207.0 |
Corporate general and administrative expenses | (27.6 | ) |  | (25.5 | )
Adjusted depreciation and amortization(1) | (10.3 | ) |  | (10.1 | )
Restructuring and other(2) | (10.5 | ) |  | (10.9 | )
Adjusted share-based compensation expense(3) | (15.1 | ) |  | (23.8 | )
Purchase accounting and related adjustments(4) | (42.8 | ) |  | (47.0 | )
Operating income | 38.2 |  |  | 89.7 |
Interest expense | (51.3 | ) |  | (52.3 | )
Interest and other income | 3.0 |  |  | 2.8 |
Loss on extinguishment of debt | — |  |  | (11.6 | )
Gain (loss) on investments | (0.9 | ) |  | 201.0 |
Equity interests loss | (6.2 | ) |  | (8.3 | )
Income (loss) before income taxes | $ | (17.2 | ) |  | $ | 221.3 |
___________________
(1) | Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Depreciation and amortization | $ | 40.3 |  |  | $ | 40.0 |
Less: Amount included in purchase accounting and related adjustments | (30.0 | ) |  | (29.9 | )
Adjusted depreciation and amortization | $ | 10.3 |  |  | $ | 10.1 |
(2) | Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable (see Note 14).
(3) | Represents share-based compensation expense excluding, when applicable, amounts attributable to immediately vested stock bonus awards (which are, when granted, included in segment and corporate general and administrative expense) and amounts related to severance awards included in restructuring and other. There were no such amounts in the three months ended June 30, 2018 and 2017, and accordingly, adjusted share-based compensation expense represents total share-based compensation expense in the three months ended June 30, 2018 and 2017.
(4) | Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Purchase accounting and related adjustments: |  |  |
Direct operating | $ | 8.0 |  |  | $ | 15.9 |
General and administrative expense | 4.8 |  |  | 1.2 |
Depreciation and amortization | 30.0 |  |  | 29.9 |
| $ | 42.8 |  |  | $ | 47.0 |
Adjusted Depreciation and Amortization | Adjusted depreciation and amortization represents depreciation and amortization as presented on our unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Depreciation and amortization | $ | 40.3 |  |  | $ | 40.0 |
Less: Amount included in purchase accounting and related adjustments | (30.0 | ) |  | (29.9 | )
Adjusted depreciation and amortization | $ | 10.3 |  |  | $ | 10.1 |
Purchase Accounting and Related Adjustments | Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
Purchase accounting and related adjustments: |  |  |
Direct operating | $ | 8.0 |  |  | $ | 15.9 |
General and administrative expense | 4.8 |  |  | 1.2 |
Depreciation and amortization | 30.0 |  |  | 29.9 |
| $ | 42.8 |  |  | $ | 47.0 |
Reconciliation of Segment General and Administrative Expense to Consolidated | The following table reconciles segment general and administration expense to the Company's total consolidated general and administration expense:
| Three Months Ended
| June 30,
| 2018 |  | 2017
| (Amounts in millions)
General and administration |  |  |
Segment general and administrative expenses | $ | 62.9 |  |  | $ | 61.6 |
Corporate general and administrative expenses | 27.6 |  |  | 25.5 |
Share-based compensation expense included in general and administrative expense | 14.9 |  |  | 23.4 |
Purchase accounting and related adjustments | 4.8 |  |  | 1.2 |
| $ | 110.2 |  |  | $ | 111.7 |
Reconciliation of Assets from Segment to Consolidated | The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:
| June 30, 2018 |  | March 31, 2018
| (Amounts in millions)
Assets |  |  |
Motion Pictures | $ | 1,861.1 |  |  | $ | 1,757.4 |
Television Production | 1,474.0 |  |  | 1,331.7 |
Media Networks | 5,072.8 |  |  | 5,235.3 |
Other unallocated assets(1) | 621.6 |  |  | 643.2 |
| $ | 9,029.5 |  |  | $ | 8,967.6 |
_____________________
(1) | Other unallocated assets primarily consist of cash, other assets and investments.

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- Definition Tabular disclosure of the profit or loss for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References No definition available. + Details
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