Revenue

12 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

The table below presents revenues by segment, market or product line for the fiscal years ended March 31, 2020, 2019 and 2018. The fiscal 2018 information in the below table has not been adjusted under the modified retrospective method of adoption of the new revenue recognition guidance adopted in fiscal 2019.



	Year Ended
	March 31,
	2020			2019			2018
	(Amounts in millions)
Revenue by Type:
Motion Picture
Theatrical	$	355.6		$	215.8		$	281.4
Home Entertainment
Digital Media	447.9			334.7			373.7
Packaged Media	256.9			257.5			400.3
Total Home Entertainment	704.8			592.2			774.0
Television	247.1			274.4			278.5
International	341.0			341.1			456.7
Other	22.4			40.9			31.5
Total Motion Picture revenues	1,670.9			1,464.4			1,822.1

Television Production
Television	715.7			655.8			744.5
International	152.7			136.0			179.6
Home Entertainment
Digital Media	57.4			66.9			96.3
Packaged Media	3.4			7.6			11.2
Total Home Entertainment	60.8			74.5			107.5
Other	72.1			54.6			1.6
Total Television Production revenues	1,001.3			920.9			1,033.2

Media Networks - Programming Revenues
Domestic⁽¹⁾	1,463.9			1,458.9			1,411.2
International	22.9			2.1			—
	1,486.8			1,461.0			1,411.2

Intersegment eliminations	(269.0		)	(165.8		)	(137.4		)
Total revenues	$	3,890.0		$	3,680.5		$	4,129.1

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(1)	Media Networks domestic revenues include revenue from the Company's Other Streaming Services product line of $33.8 million, $18.0 million and $7.1 million in the years ended March 31, 2020, 2019 and 2018, respectively.

Remaining Performance Obligations

Remaining performance obligations represent deferred revenue on the balance sheet plus fixed fee or minimum guarantee contracts where the revenue will be recognized and the cash received in the future (i.e., backlog). Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at March 31, 2020 are as follows:



	Year Ending March 31,
	2021		2022		2023		Thereafter		Total
	(Amounts in millions)
Remaining Performance Obligations	$	983.9	$	304.3	$	144.8	$	137.2	$	1,570.2

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.

Revenues of $196.5 million, including variable and fixed fee arrangements, were recognized during the year ended March 31, 2020, respectively, from performance obligations satisfied prior to March 31, 2019. These revenues were primarily associated with the distribution of television and theatrical product in electronic sell-through and video-on-demand formats, and to a lesser extent, the distribution of theatrical product in the domestic and international markets related to films initially released in prior periods.

Contract Assets and Deferred Revenue

The timing of revenue recognition, billings and cash collections affects the recognition of accounts receivable, contract assets and deferred revenue (see Note 1). At March 31, 2020 and March 31, 2019, accounts receivable, contract assets and deferred revenue are as follows:



Item	Balance Sheet Location	March 31, 2020		March 31, 2019		Addition (Reduction)
		(Amounts in millions)
Accounts receivable, net - current	Accounts receivable, net	$	522.0	$	647.2	$	(125.2	)
Accounts receivable, net - non-current	Other assets - non-current	53.6		176.1		(122.5		)
Contract asset - current	Other assets - current⁽¹⁾	18.8		97.3		(78.5		)
Contract asset - non-current	Other assets - non-current⁽¹⁾	10.5		72.1		(61.6		)
Deferred revenue - current	Deferred revenue - current	116.6		146.5		(29.9		)
Deferred revenue - non-current	Deferred revenue - non-current	61.3		62.8		(1.5		)

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(1)	Included in prepaid expenses and other.

Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Amounts relate primarily to contractual payment holdbacks in cases in which the Company is required to deliver additional episodes or seasons of television content in order to receive payment, complete certain administrative activities, such as guild filings, or allow the Company's customers' audit rights to expire. The change in balance of contract assets is primarily due to the satisfaction of the condition related to payment holdbacks.

Deferred revenue relates primarily to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Revenues of $137.4 million were recognized during the year ended March 31, 2020, related to the balance of deferred revenue at March 31, 2019.