XML 46 R36.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2018
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The table below presents revenues by segment, market or product line for the three and six months ended September 30, 2018 and 2017. As a result of the segment reorganization described in Note 15, the Company has presented prior period segment data in a manner that conforms to the current period presentation. The prior year information in the below table has not been adjusted under the modified retrospective method of adoption of the new revenue recognition guidance.
| Three Months Ended |  | Six Months Ended
| September 30, |  | September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (Amounts in millions)
Revenue by Type: |  |  |  |  |  |  |
Motion Picture |  |  |  |  |  |  |
Theatrical | $ | 69.1 |  |  | $ | 57.9 |  |  | $ | 119.5 |  |  | $ | 108.7 |
Home Entertainment |  |  |  |  |  |  |
Digital Media | 85.1 |  |  | 90.4 |  |  | 171.3 |  |  | 192.0 |
Packaged Media | 64.5 |  |  | 75.3 |  |  | 141.0 |  |  | 207.7 |
Total Home Entertainment | 149.6 |  |  | 165.7 |  |  | 312.3 |  |  | 399.7 |
Television | 70.9 |  |  | 74.2 |  |  | 132.8 |  |  | 131.8 |
International | 82.2 |  |  | 79.9 |  |  | 149.6 |  |  | 202.3 |
Other | 7.2 |  |  | 8.0 |  |  | 30.1 |  |  | 15.5 |
Total Motion Picture revenues | $ | 379.0 |  |  | $ | 385.7 |  |  | 744.3 |  |  | 858.0 |
Television Production |  |  |  |  |  |  |
Television | $ | 85.1 |  |  | $ | 143.3 |  |  | 302.9 |  |  | 330.7 |
International | 21.8 |  |  | 36.8 |  |  | 58.8 |  |  | 68.1 |
Home Entertainment |  |  |  |  |  |  |
Digital Media | 27.0 |  |  | 25.1 |  |  | 43.3 |  |  | 66.7 |
Packaged Media | 1.6 |  |  | 4.8 |  |  | 3.4 |  |  | 5.8 |
Total Home Entertainment | 28.6 |  |  | 29.9 |  |  | 46.7 |  |  | 72.5 |
Other | 16.6 |  |  | 1.2 |  |  | 23.1 |  |  | 1.1 |
Total Television Production revenues | $ | 152.1 |  |  | $ | 211.2 |  |  | 431.5 |  |  | 472.4 |
Media Networks |  |  |  |  |  |  |
Starz Networks - programming revenues | $ | 373.7 |  |  | $ | 358.6 |  |  | 724.9 |  |  | 701.8 |
Streaming Services - programming revenues | 3.6 |  |  | 1.1 |  |  | 7.3 |  |  | 2.5 |
Total Media Networks revenues | $ | 377.3 |  |  | $ | 359.7 |  |  | 732.2 |  |  | 704.3 |
Intersegment eliminations | (7.4 | ) |  | (15.8 | ) |  | (74.4 | ) |  | (88.6 | )
Total revenues | $ | 901.0 |  |  | $ | 940.8 |  |  | $ | 1,833.6 |  |  | $ | 1,946.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at September 30, 2018 are as follows:
|  | Rest of Year Ending March 31, 2019 |  | Year Ended March 31, |  |  |  |
|  |  | 2020 |  | 2021 |  | Thereafter |  | Total
|  | (Amounts in millions)
Remaining Performance Obligations |  | $ | 950.7 |  |  | $ | 717.0 |  |  | $ | 241.7 |  |  | $ | 333.0 |  |  | $ | 2,242.4 |
The above table does not include estimates of variable consideration for transactions involving sales or usage-based royalties in exchange for licenses of intellectual property. The revenues included in the above table include all fixed fee contracts regardless of duration.
Contract with Customer, Asset and Liability | At September 30, 2018 and April 1, 2018, accounts receivable, contract assets and deferred revenue are as follows:
| September 30, 2018 |  | April 1, 2018 |  | Addition (Reduction)
| (Amounts in millions) |  |
Accounts receivable, net - current | $ | 1,059.0 |  |  | $ | 1,042.2 |  |  | $ | 16.8 |
Accounts receivable, net - non-current(1) | 266.4 |  |  | 257.7 |  |  | 8.7 |
Contract asset - current(2) | 19.9 |  |  | 78.3 |  |  | (58.4 | )
Contract asset - non-current(3) | 12.1 |  |  | 71.5 |  |  | (59.4 | )
Deferred revenue - current | 238.0 |  |  | 183.8 |  |  | 54.2 |
Deferred revenue - non-current | 59.3 |  |  | 70.5 |  |  | (11.2 | )
__________________
(1) | Included in accounts receivable within non-current other assets in the unaudited condensed consolidated balance sheets.
(2) | Included in prepaid expenses and other within other current assets in the unaudited condensed consolidated balance sheets.
(3) | Included in prepaid expenses and other within non-current other assets in the unaudited condensed consolidated balance sheets.
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Changes to the opening balances of current assets, total assets, current liabilities and total liabilities resulting from the adoption of the new guidance were as follows:
|  | March 31, 2018 |  | Impact of Adoption |  | April 1, 2018
|  | (Amounts in millions)
Current assets |  | $ | 1,773.1 |  |  | $ | 174.4 |  |  | $ | 1,947.5 |
Total assets |  | $ | 8,967.6 |  |  | $ | 143.6 |  |  | $ | 9,111.2 |
Current liabilities |  | $ | 2,412.4 |  |  | $ | 104.1 |  |  | $ | 2,516.5 |
Total liabilities |  | $ | 5,708.9 |  |  | $ | 124.9 |  |  | $ | 5,833.8 |
The following table presents the line items impacted by the adoption of the new revenue recognition guidance (described in Note 1) on the unaudited condensed consolidated balance sheet and statement of operations:
|  | September 30, 2018
|  | As Reported |  | Impact of Adoption |  | Without Adoption of New Revenue Guidance
Balance Sheet Information: |  | (Amounts in millions)
Assets |  |  |  |  |  |
Accounts receivable, net - current |  | $ | 1,059.0 |  |  | $ | (129.2 | ) |  | $ | 929.8 |
Other assets - current |  | 191.0 |  |  | (19.8 | ) |  | 171.2 |
Other assets - non-current |  | 439.6 |  |  | (3.9 | ) |  | 435.7 |
Investment in films and television programs and program rights, net |  | 1,662.9 |  |  | 35.2 |  |  | 1,698.1 |
Liabilities |  |  |  |  |  |
Accounts payable and accrued liabilities |  | 585.9 |  |  | (76.3 | ) |  | 509.6 |
Participations and residuals - current |  | 494.3 |  |  | (26.4 | ) |  | 467.9 |
Deferred revenue - current |  | 238.0 |  |  | (1.5 | ) |  | 236.5 |
Deferred revenue - non-current |  | 59.3 |  |  | 2.3 |  |  | 61.6 |
Deferred tax liabilities |  | 58.8 |  |  | (3.1 | ) |  | 55.7 |
Equity |  |  |  |  |  |
Retained earnings |  | 332.3 |  |  | (12.7 | ) |  | 319.6 |
|  | Three Months Ended September 30, 2018
|  | As Reported |  | Impact of Adoption |  | Without Adoption of New Revenue Guidance
Statement of Operations Information: |  | (Amounts in millions)
Revenues |  | $ | 901.0 |  |  | $ | 16.1 |  |  | $ | 917.1 |
Direct operating |  | 463.2 |  |  | 5.6 |  |  | 468.8 |
Operating income |  | 39.1 |  |  | 10.5 |  |  | 49.6 |
Interest and other income |  | 3.0 |  |  | (0.2 | ) |  | 2.8 |
Loss before income taxes |  | (175.3 | ) |  | 10.3 |  |  | (165.0 | )
Income tax benefit |  | 26.0 |  |  | (2.6 | ) |  | 23.4 |
Net loss |  | (149.3 | ) |  | 7.7 |  |  | (141.6 | )
|  | Six Months Ended September 30, 2018
|  | As Reported |  | Impact of Adoption |  | Without Adoption of New Revenue Guidance
Statement of Operations Information: |  | (Amounts in millions)
Revenues |  | $ | 1,833.6 |  |  | $ | 13.2 |  |  | $ | 1,846.8 |
Direct operating |  | 993.2 |  |  | 4.7 |  |  | 997.9 |
Operating income |  | 77.2 |  |  | 8.5 |  |  | 85.7 |
Interest and other income |  | 6.1 |  |  | (0.3 | ) |  | 5.8 |
Loss before income taxes |  | (192.4 | ) |  | 8.2 |  |  | (184.2 | )
Income tax benefit |  | 31.8 |  |  | (2.2 | ) |  | 29.6 |
Net loss |  | (160.6 | ) |  | 6.0 |  |  | (154.6 | )

X
- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=84173487&loc=SL51747714-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration