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Segment Information (Tables)
 6 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Segment Information By Business Unit
Segment information by business unit is presented in the table below:

 
Three Months Ended
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Segment revenues
 
 
 
 
 
 
 
Motion Picture
$
379.0

 
$
385.7

 
$
744.3

 
$
858.0

Television Production
152.1

 
211.2

 
431.5

 
472.4

Media Networks
377.3

 
359.7

 
732.2

 
704.3

Intersegment eliminations
(7.4
)
 
(15.8
)
 
(74.4
)
 
(88.6
)
 
$
901.0

 
$
940.8

 
$
1,833.6

 
$
1,946.1

Intersegment revenues
 
 
 
 
 
 
 
Motion Picture
$
2.2

 
$
2.5

 
$
4.3

 
$
5.9

Television Production
5.2

 
13.3

 
70.0

 
82.4

Media Networks
—

 
—

 
0.1

 
0.3

 
$
7.4

 
$
15.8

 
$
74.4

 
$
88.6

Gross contribution
 
 
 
 
 
 
 
Motion Picture
$
38.9

 
$
35.2

 
$
117.7

 
$
149.1

Television Production
20.4

 
28.9

 
46.1

 
80.9

Media Networks
147.4

 
127.8

 
261.6

 
242.3

Intersegment eliminations
9.1

 
3.4

 
(2.3
)
 
(8.4
)
 
$
215.8

 
$
195.3

 
$
423.1

 
$
463.9

Segment general and administration
 
 
 
 
 
 
 
Motion Picture
$
26.0

 
$
26.3

 
$
52.8

 
$
53.2

Television Production
11.0

 
10.6

 
21.5

 
19.7

Media Networks
24.7

 
24.5

 
50.3

 
50.2

 
$
61.7

 
$
61.4

 
$
124.6

 
$
123.1

Segment profit
 
 
 
 
 
 
 
Motion Picture
$
12.9

 
$
8.9

 
$
64.9

 
$
95.9

Television Production
9.4

 
18.3

 
24.6

 
61.2

Media Networks
122.7

 
103.3

 
211.3

 
192.1

Intersegment eliminations
9.1

 
3.4

 
(2.3
)
 
(8.4
)
 
$
154.1

 
$
133.9

 
$
298.5

 
$
340.8
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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Company’s total segment profit
$
154.1

 
$
133.9

 
$
298.5

 
$
340.8

Corporate general and administrative expenses
(25.3
)
 
(25.3
)
 
(52.8
)
 
(50.7
)
Adjusted depreciation and amortization(1)
(10.0
)
 
(9.3
)
 
(20.3
)
 
(19.4
)
Restructuring and other(2)
(15.0
)
 
(3.5
)
 
(25.6
)
 
(14.4
)
Adjusted share-based compensation expense(3)
(15.1
)
 
(23.6
)
 
(30.2
)
 
(47.4
)
Purchase accounting and related adjustments(4)
(49.6
)
 
(41.8
)
 
(92.4
)
 
(88.8
)
Operating income
39.1

 
30.4

 
77.2

 
120.1

Interest expense
(55.5
)
 
(48.7
)
 
(106.8
)
 
(101.0
)
Shareholder litigation settlements(5)
(114.1
)
 
—

 
(114.1
)
 
—

Interest and other income
3.0

 
2.7

 
6.1

 
5.5

Loss on extinguishment of debt
—

 
(6.4
)
 
—

 
(18.0
)
Gain (loss) on investments
(36.1
)
 
—

 
(37.0
)
 
201.0

Equity interests loss
(11.7
)
 
(12.7
)
 
(17.8
)
 
(21.0
)
Income (loss) before income taxes
$
(175.3
)
 
$
(34.7
)
 
$
(192.4
)
 
$
186.6

___________________
(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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Depreciation and amortization
$
40.8

 
$
39.3

 
$
81.1

 
$
79.3

Less: Amount included in purchase accounting and related adjustments
(30.8
)
 
(30.0
)
 
(60.8
)
 
(59.9
)
Adjusted depreciation and amortization
$
10.0

 
$
9.3

 
$
20.3

 
$
19.4


(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 and six months ended September 30, 2018 and 2017, and accordingly, adjusted share-based compensation expense represents total share-based compensation expense in the three and six months ended September 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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Purchase accounting and related adjustments:
 
 
 
 
 
 
 
Direct operating
$
5.6

 
$
10.2

 
$
13.6

 
$
26.0

General and administrative expense
13.2

 
1.6

 
18.0

 
2.9

Depreciation and amortization
30.8

 
30.0

 
60.8

 
59.9

 
$
49.6

 
$
41.8

 
$
92.4

 
$
88.8



(5)
Shareholder litigation settlements of $114.1 million in the three and six months ended September 30, 2018 includes the following: (i) $54.8 million for the net expense recorded for the settlement of the Fiduciary Litigation (representing the settlement amount of $92.5 million, which the Company has included in accounts payable and accrued liabilities in the unaudited condensed consolidated balance sheet, net of aggregate insurance reimbursement of $37.8 million, which amount the Company has recorded a receivable included in the "other current assets" line item in the unaudited condensed consolidated balance sheet as of September 30, 2018) and (ii) $59.3 million related to the Appraisal Litigation, representing the amount by which the settlement amount of approximately $961 million exceeds the previously accrued $901.9 million dissenting shareholders' liability, before considering the settlement (i.e., dissenting shareholders' liability plus accrued interest through September 30, 2018). See Note 16.
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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Depreciation and amortization
$
40.8

 
$
39.3

 
$
81.1

 
$
79.3

Less: Amount included in purchase accounting and related adjustments
(30.8
)
 
(30.0
)
 
(60.8
)
 
(59.9
)
Adjusted depreciation and amortization
$
10.0

 
$
9.3

 
$
20.3

 
$
19.4
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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Purchase accounting and related adjustments:
 
 
 
 
 
 
 
Direct operating
$
5.6

 
$
10.2

 
$
13.6

 
$
26.0

General and administrative expense
13.2

 
1.6

 
18.0

 
2.9

Depreciation and amortization
30.8

 
30.0

 
60.8

 
59.9

 
$
49.6

 
$
41.8

 
$
92.4

 
$
88.8
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
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
General and administration
 
 
 
 
 
 
 
Segment general and administrative expenses
$
61.7

 
$
61.4

 
$
124.6

 
$
123.1

Corporate general and administrative expenses
25.3

 
25.3

 
52.8

 
50.7

Share-based compensation expense included in general and administrative expense
14.8

 
23.2

 
29.7

 
46.5

Purchase accounting and related adjustments
13.2

 
1.6

 
18.0

 
3.0

 
$
115.0

 
$
111.5

 
$
225.1

 
$
223.3
Reconciliation of Assets from Segment to Consolidated
The reconciliation of total segment assets to the Company’s total consolidated assets is as follows:
 
 
September 30,
2018
 
March 31,
2018
 
(Amounts in millions)
Assets
 
 
 
Motion Picture
$
1,826.4

 
$
1,757.4

Television Production
1,500.8

 
1,400.5

Media Networks
5,085.6

 
5,166.5

Other unallocated assets(1)
636.6

 
643.2

 
$
9,049.4

 
$
8,967.6

_____________________
(1)
Other unallocated assets primarily consist of cash, other assets and investments.