XML 64 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Investment In Films and Television Programs and Program Rights
 9 Months Ended
Dec. 31, 2019
Investment In Films And Television Programs and Program Rights [Abstract]  
Investment In Films and Television Programs and Program Rights Investment in Films and Television Programs and Program Rights
 
December 31,
2019
 
March 31,
2019
 
(Amounts in millions)
Motion Picture Segment - Theatrical and Non-Theatrical Films
 
 
 
Released, net of accumulated amortization
$
375.5

 
$
376.7

Acquired libraries, net of accumulated amortization
0.9

 
1.8

Completed and not released
7.4

 
80.6

In progress
136.5

 
250.4

In development
55.1

 
45.0

 
575.4

 
754.5

Television Production Segment - Direct-to-Television Programs
 
 
 
Released, net of accumulated amortization
172.2

 
186.1

In progress
326.7

 
295.6

In development
16.5

 
17.6

 
515.4

 
499.3

Media Networks Segment
 
 
 
Released program rights, net of accumulated amortization
616.0

 
591.0

In progress
73.0

 
106.8

In development
37.4

 
56.2

 
726.4

 
754.0

 
 
 
 
Intersegment eliminations
(37.5
)
 
(40.1
)
 
 
 
 
Investment in films and television programs and program rights, net
1,779.7

 
1,967.7

Less current portion of program rights
(243.4
)
 
(295.7
)
Non-current portion
$
1,536.3

 
$
1,672.0


During the three and nine months ended December 31, 2019 and 2018, the Company performed fair value measurements related to films having indicators of impairment. In determining the fair value of its films, the Company employs a DCF methodology that includes cash flow estimates of a film’s ultimate revenue and costs as well as a discount rate. The discount rate utilized in the DCF analysis is based on the Company’s weighted average cost of capital plus a risk premium representing the risk associated with producing a particular film. As the primary determination of fair value is determined using a DCF model, the resulting fair value is considered a Level 3 measurement (see Note 8). During the three and nine months ended December 31, 2019, the Company recorded $37.2 million and $38.8 million, respectively, of fair value film write-downs (2018 - $10.5 million and $17.4 million, respectively).