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Investments (Tables) | 9 Months Ended
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Dec. 31, 2018
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract] |
Carrying Amount of Investments, By Category | The Company's investments consisted of the following:
|  | December 31, 2018 |  | March 31, 2018
|  | (Amounts in millions)
Investments in equity method investees |  | $ | 121.1 |  |  | $ | 127.0 |
Other investments |  | 1.5 |  |  | 37.9 |
|  | $ | 122.6 |  |  | $ | 164.9 |
Gain (Loss) on Investments | The following table summarizes the components of the gain (loss) on investments:
| Three Months Ended |  | Nine Months Ended
| December 31, |  | December 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (Amounts in millions)
Impairments of investments(1) | $ | (2.6 | ) |  | $ | (29.2 | ) |  | $ | (36.8 | ) |  | $ | (29.2 | )
Unrealized losses on equity securities held as of December 31, 2018 | (3.6 | ) |  | — |  |  | (6.4 | ) |  | — |
Gain on sale of EPIX(2) | — |  |  | — |  |  | — |  |  | 201.0 |
| $ | (6.2 | ) |  | $ | (29.2 | ) |  | $ | (43.2 | ) |  | $ | 171.8 |
_________________
(1) | In the three and nine months ended December 31, 2018 and 2017, amounts represent impairments of equity method investments, and the nine months ended December 31, 2018 also includes other-than-temporary impairments of $34.2 million on investments in equity securities without readily determinable fair values and notes receivable (previously included in other assets) which were written down to their estimated fair value of zero.
(2) | In May 2017, the Company sold all of its 31.15% equity interest in EPIX, and recorded a gain before income taxes of approximately $201.0 million. Prior to the sale of its interest in EPIX, the Company had accounted for such interest as an equity method investment.
Pop |
Schedule of Equity Method Investments [Line Items] |
Summarized Balance Sheet | The following table presents summarized balance sheet data as of December 31, 2018 and March 31, 2018 for Pop:
| December 31, 2018 |  | March 31, 2018
| (Amounts in millions)
Current assets | $ | 77.7 |  |  | $ | 48.2 |
Non-current assets | $ | 194.7 |  |  | $ | 191.6 |
Current liabilities | $ | 48.5 |  |  | $ | 37.2 |
Non-current liabilities(1) | $ | 755.0 |  |  | $ | 654.9 |
Redeemable preferred stock(1) | $ | 725.0 |  |  | $ | 638.4 |
_________________________
(1) | Non-current liabilities includes mandatorily redeemable preferred stock units.
Summarized Statement of Income | The following table presents the summarized statements of operations for the three and nine months ended December 31, 2018, and 2017 for Pop and a reconciliation of the net loss reported by Pop to equity interest loss recorded by the Company:
| Three Months Ended |  | Nine Months Ended
| December 31, |  | December 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
Revenues | $ | 24.3 |  |  | $ | 33.0 |  |  | $ | 75.8 |  |  | $ | 86.0 |
Expenses: |  |  |  |  |  |  |
Cost of services | 17.9 |  |  | 19.8 |  |  | 43.4 |  |  | 50.5 |
Selling, marketing, and general and administration | 11.6 |  |  | 14.1 |  |  | 35.1 |  |  | 37.3 |
Depreciation and amortization | 1.9 |  |  | 2.0 |  |  | 5.9 |  |  | 6.1 |
Operating loss | (7.1 | ) |  | (2.9 | ) |  | (8.6 | ) |  | (7.9 | )
Interest expense, net | 0.7 |  |  | 0.2 |  |  | 1.6 |  |  | 0.6 |
Accretion of redeemable preferred stock units(1) | 24.3 |  |  | 20.1 |  |  | 68.6 |  |  | 58.1 |
Total interest expense, net | 25.0 |  |  | 20.3 |  |  | 70.2 |  |  | 58.7 |
Net loss | $ | (32.1 | ) |  | $ | (23.2 | ) |  | $ | (78.8 | ) |  | $ | (66.6 | )
Reconciliation of net loss reported by Pop to equity interest loss: |  |  |  |  |  |  |
Net loss reported by Pop | $ | (32.1 | ) |  | $ | (23.2 | ) |  | $ | (78.8 | ) |  | $ | (66.6 | )
Ownership interest in Pop | 50 | % |  | 50 | % |  | 50 | % |  | 50 | %
The Company's share of net loss | (16.1 | ) |  | (11.6 | ) |  | (39.4 | ) |  | (33.3 | )
Accretion of dividend and interest income on redeemable preferred stock units(1) | 12.1 |  |  | 10.1 |  |  | 34.3 |  |  | 29.0 |
Elimination of the Company's share of profits on licensing sales to Pop | — |  |  | (0.2 | ) |  | (0.2 | ) |  | (0.3 | )
Realization of the Company’s share of profits on licensing sales to Pop | 0.4 |  |  | 0.3 |  |  | 0.6 |  |  | 0.7 |
Total equity interest loss recorded | $ | (3.6 | ) |  | $ | (1.4 | ) |  | $ | (4.7 | ) |  | $ | (3.9 | )
___________________
(1) | Accretion of mandatorily redeemable preferred stock units represents Pop's 10% dividend and the amortization of discount on its mandatorily redeemable preferred stock units held by the Company and the other interest holder. The Company recorded its share of this expense as income from the accretion of dividend and discount on mandatorily redeemable preferred stock units within equity interest loss.
Other |
Schedule of Equity Method Investments [Line Items] |
Summarized Balance Sheet | Summarized financial information for the Company's "other equity method investees", on an aggregate basis, is set forth below:
| December 31, 2018 |  | March 31, 2018
| (Amounts in millions)
Current assets | $ | 156.4 |  |  | $ | 232.7 |
Non-current assets | $ | 55.9 |  |  | $ | 130.0 |
Current liabilities | $ | 132.9 |  |  | $ | 201.5 |
Non-current liabilities | $ | 18.8 |  |  | $ | 45.0 |
Summarized Statement of Income |
| Three Months Ended |  | Nine Months Ended
| December 31, |  | December 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (Amounts in millions)
Revenues | $ | 31.5 |  |  | $ | 61.0 |  |  | $ | 85.0 |  |  | $ | 148.7 |
Gross profit | $ | 8.1 |  |  | $ | 12.3 |  |  | $ | 27.7 |  |  | $ | 30.2 |
Net loss | $ | (26.5 | ) |  | $ | (32.7 | ) |  | $ | (81.8 | ) |  | $ | (95.2 | )

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