XML 68 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1

Debt (Tables)

12 Months Ended

Mar. 31, 2018

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 March 31, 2018 and March 31, 2017:

	March 31, 2018				March 31, 2017
	(Amounts in millions)
Corporate debt:
Revolving credit facility	$	—			$	—
Term Loan A(1)	750.0				987.5
Term Loan B(1)	1,250.0				1,600.0
5.875% Senior Notes	520.0				520.0
Total corporate debt	2,520.0				3,107.5
Convertible senior subordinated notes(2)	60.0				60.0
Capital lease obligations	50.5				57.7
Total debt	2,630.5				3,225.2
Unamortized discount and debt issuance costs, net of fair value adjustment on capital lease obligations	(73.1		)		(100.3		)
Total debt, net	2,557.4				3,124.9
Less current portion	(79.1		)		(77.9		)
Non-current portion of debt	$	2,478.3			$	3,047.0

______________

(1) As of March 31, 2017, amounts were outstanding under the Previous Term Loan A and Previous Term Loan B, as defined below under the "Debt Transactions" section.

(2) Represents 1.25% convertible senior subordinated notes due April 2018 (the "April 2013 1.25% Notes"), which were convertible, at any time, into the number of common shares of the Company determined by the principal amount being converted divided by the conversion price, subject to adjustment in certain circumstances, including upon the issuance of dividends (conversion price of $29.09 per share of Class A voting shares and $29.08 per share of Class B non-voting shares at March 31, 2018). All of the April 2013 1.25% Notes were subsequently repaid in April 2018 (see Note 22).

Future Annual Contractual Principal Payment Commitments of Debt

The following table sets forth future annual contractual principal payment commitments of debt as of March 31, 2018:

		Maturity Date		Year Ended March 31,
Debt Type				2019				2020				2021				2022				2023				Thereafter				Total
				(Amounts in millions)
Revolving Credit Facility		March 2023		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Term Loan A		March 2023		—				37.5				52.5				75.0				585.0				—				750.0
Term Loan B		March 2025		12.5				12.5				12.5				12.5				12.5				1,187.5				1,250.0
5.875% Senior Notes		November 2024		—				—				—				—				—				520.0				520.0
Capital lease obligations		Various		5.2				3.0				3.0				0.9				0.9				37.5				50.5
April 2013 1.25% Notes		April 2018		60.0				—				—				—				—				—				60.0
				$	77.7			$	53.0			$	68.0			$	88.4			$	598.4			$	1,745.0			2,630.5
Less aggregate unamortized discount & debt issuance costs, net of fair value adjustment on capital lease obligations																												(73.1		)
																												$	2,557.4

Summary of Loss on Extinguishment of Debt and Debt Issuance Costs

The following tables summarize the accounting for the debt issuance costs incurred and the related loss on extinguishment of debt recorded in the years ended March 31, 2018 and March 31, 2017 associated with the debt transactions discussed above (no loss in the year ended March 31, 2016):

	Year Ended March 31, 2018
	Loss on Extinguishment of Debt				Capitalized & Amortized Over Life of New Issuances				Total
	(Amounts in millions)
New debt issuance costs	$	11.0			$	11.6			$	22.6
Previously incurred debt issuance costs or unamortized discount	24.7
Total	$	35.7

	Year Ended March 31, 2017
	Loss on Extinguishment of Debt				Capitalized & Amortized Over Life of New Issuances				Total
	(Amounts in millions)
New debt issuance costs and call premium	$	20.6			$	115.0			$	135.6
Previously incurred debt issuance costs or unamortized discount	19.8
Total	$	40.4

Schedule of Interest Expense

The table below sets forth the composition of the Company’s interest expense for the years ended March 31, 2018, 2017 and 2016:

	Year Ended
	March 31,
	2018				2017				2016
Interest expense
Cash interest	$	122.9			$	86.8			$	45.7
Amortization of debt discount and financing costs	14.3				12.9				9.2
	137.2				99.7				54.9
Interest on dissenting shareholders' liability (see Note 2)	56.5				15.5				—
Total interest expense	$	193.7			$	115.2			$	54.9

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities.

+ References

No definition available.

+ Details

Name:	us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7516071&loc=d3e13374-112631

+ Details

Name:	us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration