Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

The accounting basis in all subsidiaries, including goodwill and identified intangible assets, have been allocated to the applicable subsidiaries.



Condensed Consolidating Balance Sheet
December 31, 2018
(In thousands)	Parent Company		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	121	$	368,151	$	186,614	$	—		$	554,886
Accounts receivable, trade (including amounts due from related parties, net, less allowance for doubtful accounts)	16		600,121		235,840		—			835,977
Current portion of program rights, net	—		292,002		148,955		(218		)	440,739
Prepaid expenses, other current assets and intercompany receivable	6,543		158,936		23,549		(57,219		)	131,809
Total current assets	6,680		1,419,210		594,958		(57,437		)	1,963,411
Property and equipment, net	—		175,040		71,222		—			246,262
Investment in affiliates	3,656,003		1,655,083		—		(5,311,086		)	—
Program rights, net	—		969,802		245,862		(1,613		)	1,214,051
Long-term intercompany notes receivable	—		—		190		(190		)	—
Deferred carriage fees, net	—		15,993		838		—			16,831
Intangible assets, net	—		161,417		417,490		—			578,907
Goodwill	—		65,282		732,755		—			798,037
Deferred tax asset, net	—		—		19,272		—			19,272
Other assets	—		149,724		292,068		—			441,792
Total assets	$	3,662,683	$	4,611,551	$	2,374,655	$	(5,370,326	)	$	5,278,563
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	—	$	34,630	$	72,436	$	—		$	107,066
Accrued liabilities and intercompany payable	35,189		173,836		114,943		(59,050		)	264,918
Current portion of program rights obligations	—		259,414		84,175		—			343,589
Deferred revenue	—		34,608		20,816		—			55,424
Current portion of long-term debt	18,750		—		2,584		—			21,334
Current portion of capital lease obligations	—		2,941		2,149		—			5,090
Total current liabilities	53,939		505,429		297,103		(59,050		)	797,421
Program rights obligations	—		349,814		23,435		—			373,249
Long-term debt, net	3,088,221		—		—		—			3,088,221
Capital lease obligations	—		1,420		20,007		—			21,427
Deferred tax liability, net	140,474		—		4,969		—			145,443
Other liabilities and intercompany notes payable	63,369		98,885		45,972		(190		)	208,036
Total liabilities	3,346,003		955,548		391,486		(59,240		)	4,633,797
Commitments and contingencies
Redeemable noncontrolling interests	—		—		299,558		—			299,558
Stockholders' equity:
AMC Networks stockholders' equity	316,680		3,656,003		1,655,083		(5,311,086		)	316,680
Non-redeemable noncontrolling interests	—		—		28,528		—			28,528
Total stockholders' equity	316,680		3,656,003		1,683,611		(5,311,086		)	345,208
Total liabilities and stockholders' equity	$	3,662,683	$	4,611,551	$	2,374,655	$	(5,370,326	)	$	5,278,563



Condensed Consolidating Balance Sheet
December 31, 2017
(In thousands)	Parent Company		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	320	$	391,248	$	167,215		$	—		$	558,783
Accounts receivable, trade (including amounts due from related parties, net, less allowance for doubtful accounts)	—		581,270		194,621			—			775,891
Current portion of program rights, net	—		294,303		149,301			—			443,604
Prepaid expenses, other current assets and intercompany receivable	3,760		183,815		8,540			(104,389		)	91,726
Total current assets	4,080		1,450,636		519,677			(104,389		)	1,870,004
Property and equipment, net	—		136,032		47,482			—			183,514
Investment in affiliates	3,443,013		934,612		—			(4,377,625		)	—
Program rights, net	—		1,137,867		191,258			—			1,329,125
Long-term intercompany notes receivable	—		489,939		436			(490,375		)	—
Deferred carriage fees, net	—		29,346		578			—			29,924
Intangible assets, net	—		170,554		286,688			—			457,242
Goodwill	—		66,609		628,549			—			695,158
Deferred tax asset, net	—		—		20,081			—			20,081
Other assets	—		142,115		305,822			—			447,937
Total assets	$	3,447,093	$	4,557,710	$	2,000,571		$	(4,972,389	)	$	5,032,985
LIABILITIES AND STOCKHOLDERS' (DEFICIENCY) EQUITY
Current Liabilities:
Accounts payable	$	350	$	50,282	$	51,565		$	—		$	102,197
Accrued liabilities and intercompany payable	51,692		179,003		136,770			(104,389		)	263,076
Current portion of program rights obligations	—		262,004		65,545			—			327,549
Deferred revenue	—		27,530		18,903			—			46,433
Current portion of long-term debt	—		—		—			—			—
Current portion of capital lease obligations	—		2,939		1,908			—			4,847
Total current liabilities	52,042		521,758		274,691			(104,389		)	744,102
Program rights obligations	—		511,996		22,984			—			534,980
Long-term debt, net	3,099,257		—		—			—			3,099,257
Capital lease obligations	—		3,745		22,532			—			26,277
Deferred tax liability, net	114,717		—		(5,019		)	—			109,698
Other liabilities and intercompany notes payable	46,133		77,198		503,166			(490,375		)	136,122
Total liabilities	3,312,149		1,114,697		818,354			(594,764		)	4,650,436
Commitments and contingencies
Redeemable noncontrolling interests	—		—		218,604			—			218,604
Stockholders' deficiency:
AMC Networks stockholders' (deficiency) equity	134,944		3,443,013		934,612			(4,377,625		)	134,944
Non-redeemable noncontrolling interests	—		—		29,001			—			29,001
Total stockholders' (deficiency) equity	134,944		3,443,013		963,613			(4,377,625		)	163,945
Total liabilities and stockholders' equity	$	3,447,093	$	4,557,710	$	2,000,571		$	(4,972,389	)	$	5,032,985

Condensed Consolidating Income Statement



Condensed Consolidating Statement of Income
Year Ended December 31, 2018
(In thousands)	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	—		$	2,166,686		$	820,532		$	(15,289	)	$	2,971,929
Operating expenses:
Technical and operating (excluding depreciation and amortization)	—			956,272			493,751			(4,074		)	1,445,949
Selling, general and administrative	—			450,880			216,608			(10,031		)	657,457
Depreciation and amortization	—			45,204			46,077			—			91,281
Impairment and related charges	—			—			4,486						4,486
Restructuring expense	—			29,277			16,570			—			45,847
Total operating expenses	—			1,481,633			777,492			(14,105		)	2,245,020
Operating income	—			685,053			43,040			(1,184		)	726,909
Other income (expense):
Interest expense, net	(151,751		)	28,460			(12,522		)	—			(135,813		)
Share of affiliates' income (loss)	734,472			32,874			—			(767,346		)	—
Miscellaneous, net	(151		)	(1,876		)	30,020			1,184			29,177
Total other income (expense)	582,570			59,458			17,498			(766,162		)	(106,636		)
Income from operations before income taxes	582,570			744,511			60,538			(767,346		)	620,273
Income tax expense	(136,383		)	(10,039		)	(9,884		)	—			(156,306		)
Net income including noncontrolling interests	446,187			734,472			50,654			(767,346		)	463,967
Net income attributable to noncontrolling interests	—			—			(17,780		)	—			(17,780		)
Net income attributable to AMC Networks' stockholders	$	446,187		$	734,472		$	32,874		$	(767,346	)	$	446,187



Condensed Consolidating Statement of Income
Year Ended December 31, 2017
(In thousands)	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	—		$	2,182,867		$	637,823		$	(14,999	)	$	2,805,691
Operating expenses:
Technical and operating (excluding depreciation and amortization)	—			991,476			352,788			(3,188		)	1,341,076
Selling, general and administrative	—			447,118			178,332			(12,108		)	613,342
Depreciation and amortization	—			40,923			53,715			—			94,638
Impairment and related charges	—			—			28,148			—			28,148
Restructuring expense	—			2,566			3,562			—			6,128
Total operating expenses	—			1,482,083			616,545			(15,296		)	2,083,332
Operating income	—			700,784			21,278			297			722,359
Other income (expense):
Interest expense, net	(129,971		)	41,934			(31,260		)	—			(119,297		)
Share of affiliates' income (loss)	748,430			13,360			—			(761,790		)	—
Loss on extinguishment of debt	(3,004		)	—			—			—			(3,004		)
Miscellaneous, net	(1,530		)	2,484			39,663			(297		)	40,320
Total other income (expense)	613,925			57,778			8,403			(762,087		)	(81,981		)
Income from operations before income taxes	613,925			758,562			29,681			(761,790		)	640,378
Income tax (expense) benefit	(142,609		)	(10,132		)	2,000			—			(150,741		)
Net income including noncontrolling interests	471,316			748,430			31,681			(761,790		)	489,637
Net income attributable to noncontrolling interests	—			—			(18,321		)	—			(18,321		)
Net income attributable to AMC Networks' stockholders	$	471,316		$	748,430		$	13,360		$	(761,790	)	$	471,316

Condensed Consolidating Statement of Comprehensive Income



Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2018
(In thousands)	Parent Company			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income including noncontrolling interest	$	446,187		$	734,472	$	50,654		$	(767,346	)	$	463,967
Other comprehensive income (loss):
Foreign currency translation adjustment	(41,716		)	—		(41,716		)	41,716			(41,716		)
Unrealized loss on interest rate swaps	(356		)	—		—			—			(356		)
Amounts reclassified from accumulated other comprehensive loss	(370		)	—		—			—			(370		)
Other comprehensive (loss) income, before income taxes	(42,442		)	—		(41,716		)	41,716			(42,442		)
Income tax expense	45			—		—			—			45
Other comprehensive (loss) income, net of income taxes	(42,397		)	—		(41,716		)	41,716			(42,397		)
Comprehensive income	403,790			734,472		8,938			(725,630		)	421,570
Comprehensive income attributable to noncontrolling interests	—			—		(16,044		)	—			(16,044		)
Comprehensive income (loss) attributable to AMC Networks' stockholders	$	403,790		$	734,472	$	(7,106	)	$	(725,630	)	$	405,526



Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2017
(In thousands)	Parent Company			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss) including noncontrolling interest	$	471,316		$	748,430	$	31,681		$	(761,790	)	$	489,637
Other comprehensive income (loss):
Foreign currency translation adjustment	76,023			—		76,023			(76,023		)	76,023
Unrealized loss on interest rate swaps	(35		)	—		—			—			(35		)
Unrealized gain on available for sale securities	5,398			—		—			—			5,398
Other comprehensive income, before income taxes	81,386			—		76,023			(76,023		)	81,386
Income tax expense	(1,974		)	—		—			—			(1,974		)
Other comprehensive income, net of income taxes	79,412			—		76,023			(76,023		)	79,412
Comprehensive income	550,728			748,430		107,704			(837,813		)	569,049
Comprehensive income attributable to noncontrolling interests	—			—		(21,430		)	—			(21,430		)
Comprehensive income attributable to AMC Networks' stockholders	$	550,728		$	748,430	$	86,274		$	(837,813	)	$	547,619

Condensed Consolidating Cash Flow Statement



Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2018
(In thousands)	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash provided by operating activities	$	503,796		$	1,351,256		$	(476,129	)	$	(772,376	)	$	606,547
Cash flows from investing activities:
Capital expenditures	—			(74,710		)	(15,092		)	—			(89,802		)
Return of capital from investees	—			—			4,088			—			4,088
Payments for acquisitions, net of cash acquired	—			(675		)	(83,714		)	—			(84,389		)
Investments in and loans to investees	—			—			(90,081		)	—			(90,081		)
(Increase) decrease to investment in affiliates	(215,862		)	(2,646,335		)	1,813,007			1,049,190			—
Net cash (used in) provided by investing activities	(215,862		)	(2,721,720		)	1,628,208			1,049,190			(260,184		)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	289			—			—			—			289
Deemed repurchases of restricted stock/units	(16,836		)	—			—			—			(16,836		)
Purchase of treasury stock	(283,143		)	—			—			—			(283,143		)
Proceeds from stock option exercises	4,317			—			—			—			4,317
Principal payments on capital lease obligations	—			(3,000		)	(1,938		)	—			(4,938		)
Distributions to noncontrolling interest	—			—			(14,296		)	—			(14,296		)
Net cash used in financing activities	(295,373		)	(3,000		)	(16,234		)	—			(314,607		)
Net (decrease) increase in cash and cash equivalents from operations	(7,439		)	(1,373,464		)	1,135,845			276,814			31,756
Effect of exchange rate changes on cash and cash equivalents	7,240			1,350,367			(1,116,446		)	(276,814		)	(35,653		)
Cash and cash equivalents at beginning of period	320			391,248			167,215			—			558,783
Cash and cash equivalents at end of period	$	121		$	368,151		$	186,614		$	—		$	554,886



Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2017
(In thousands)	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash provided by operating activities	$	454,539		$	662,123		$	31,157		$	(762,090	)	$	385,729
Cash flows from investing activities:
Capital expenditures	—			(63,925		)	(16,124		)	—			(80,049		)
Return of capital from investees	—			1,868			579			—			2,447
Investments in and loans to investees	—			—			(53,000		)	—			(53,000		)
(Increase) decrease to investment in affiliates	(282,424		)	(2,234,682		)	2,082,401			434,705			—
Net cash used in investing activities	(282,424		)	(2,296,739		)	2,013,856			434,705			(130,602		)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	1,536,000			—			—			—			1,536,000
Repayment of long-term debt	(1,257,965		)	—			—			—			(1,257,965		)
Payments for financing costs	(10,405		)	—			—			—			(10,405		)
Deemed repurchases of restricted stock/units	(14,496		)	—			—			—			(14,496		)
Purchase of treasury stock	(434,210		)	—			—			—			(434,210		)
Principal payments on capital lease obligations	—			(2,725		)	(1,848		)	—			(4,573		)
Distributions to noncontrolling interest	—			—			(18,561		)	—			(18,561		)
Net cash used in financing activities	(181,076		)	(2,725		)	(20,409		)	—			(204,210		)
Net increase (decrease) in cash and cash equivalents from operations	(8,961		)	(1,637,341		)	2,024,604			(327,385		)	50,917
Effect of exchange rate changes on cash and cash equivalents	8,716			1,707,639			(2,017,263		)	327,385			26,477
Cash and cash equivalents at beginning of period	565			320,950			159,874			—			481,389
Cash and cash equivalents at end of period	$	320		$	391,248		$	167,215		$	—		$	558,783