XML 136 R40.htm IDEA: XBRL DOCUMENT v3.20.1

Debt (Tables)

12 Months Ended

Mar. 31, 2020

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, 2020 and March 31, 2019:

	March 31, 2020				March 31, 2019
	(Amounts in millions)
Corporate debt:
Revolving credit facility	$	—			$	—
Term Loan A	712.5				750.0
Term Loan B	965.1				1,107.5
5.875% Senior Notes	518.7				520.0
6.375% Senior Notes	545.6				550.0
Total corporate debt	2,741.9				2,927.5
Finance lease obligations	42.4				45.4
Total debt	2,784.3				2,972.9
Unamortized debt issuance costs, net of fair value adjustment on finance lease obligations	(51.3		)		(68.5		)
Total debt, net	2,733.0				2,904.4
Less current portion	(68.6		)		(53.6		)
Non-current portion of debt	$	2,664.4			$	2,850.8

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, 2020:

		Maturity Date		Year Ending March 31,
Debt Type				2021				2022				2023				2024				2025				Thereafter				Total
				(Amounts in millions)
Revolving Credit Facility		March 2023		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Term Loan A		March 2023		52.5				75.0				585.0				—				—				—				712.5
Term Loan B		March 2025		12.5				12.5				12.5				12.5				915.1				—				965.1
5.875% Senior Notes		November 2024		—				—				—				—				518.7				—				518.7
6.375% Senior Notes		February 2024		—				—				—				545.6				—				—				545.6
Finance lease obligations		Various		3.0				0.9				0.9				1.0				1.0				35.6				42.4
				$	68.0			$	88.4			$	598.4			$	559.1			$	1,434.8			$	35.6			2,784.3
Less aggregate unamortized debt issuance costs, net of fair value adjustment on finance lease obligations																												(51.3		)
																												$	2,733.0

Summary of Loss on Extinguishment of Debt and Debt Issuance Costs

During the years ended March 31, 2020 and 2019, the Company recorded a gain (loss) on extinguishment of debt related to the transactions discussed above, as presented below:

	Year Ended March 31,
	2020				2019
Gain (loss) on extinguishment of debt:
Senior Notes repurchases	$	1.1			$	—
Term Loan B repurchases	5.7				—
Term Loan B prepayments	(1.4		)		(1.9		)
	$	5.4			$	(1.9	)

During the year ended March 31, 2018, the Company recorded a loss on extinguishment of debt associated with the debt refinancing transactions in fiscal 2018, as discussed above. The following table summarizes the accounting for the debt issuance costs incurred and the related loss on extinguishment of debt recorded:

	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

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 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-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