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Debt (Tables)

12 Months Ended

Mar. 31, 2019

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, 2019 and March 31, 2018:

	March 31, 2019				March 31, 2018
	(Amounts in millions)
Corporate debt:
Revolving credit facility	$	—			$	—
Term Loan A(1)	750.0				750.0
Term Loan B(1)	1,107.5				1,250.0
5.875% Senior Notes	520.0				520.0
6.375% Senior Notes	550.0				—
Total corporate debt	2,927.5				2,520.0
Convertible senior subordinated notes	—				60.0
Capital lease obligations	45.4				50.5
Total debt	2,972.9				2,630.5
Unamortized discount and debt issuance costs, net of fair value adjustment on capital lease obligations	(68.5		)		(73.1		)
Total debt, net	2,904.4				2,557.4
Less current portion	(53.6		)		(79.1		)
Non-current portion of debt	$	2,850.8			$	2,478.3

______________

(1) To manage interest rate risk on certain of its LIBOR-based floating-rate corporate debt, as of March 31, 2019, the Company has entered into interest rate swaps to effectively convert the floating interest rates to fixed interest rates on a $1.7 billion notional amount, which as of March 31, 2019 converts the effective rate on $1.7 billion of our LIBOR-based corporate debt to 4.987% (see Note 18 for further information).

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, 2019:

		Maturity Date		Year Ended March 31,
Debt Type				2020				2021				2022				2023				2024				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				1,045.0				1,107.5
5.875% Senior Notes		November 2024		—				—				—				—				—				520.0				520.0
6.375% Senior Notes		February 2024		—				—				—				—				550.0				—				550.0
Capital lease obligations		Various		3.0				3.0				0.9				0.9				1.0				36.6				45.4
				$	53.0			$	68.0			$	88.4			$	598.4			$	563.5			$	1,601.6			2,972.9
Less aggregate unamortized discount & debt issuance costs, net of fair value adjustment on capital lease obligations																												(68.5		)
																												$	2,904.4

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. During the year ended March 31, 2019, the Company recorded a loss on extinguishment of debt of $1.9 million related to early repayments on the Term Loan B.

	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, 2019, 2018 and 2017:

	Year Ended
	March 31,
	2019				2018				2017
Interest expense
Cash interest	$	152.0			$	122.9			$	86.8
Amortization of debt discount and financing costs	11.6				14.3				12.9
	163.6				137.2				99.7
Interest on dissenting shareholders' liability (see Note 17)	35.3				56.5				15.5
Total interest expense	$	198.9			$	193.7			$	115.2

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