Condensed Consolidated And Combined Statements Of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Mar. 31, 2024 |
Mar. 31, 2023 |
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Revenues | [1] | $ 228,313 | $ 201,229 | $ 773,191 | $ 703,561 | |||
Direct operating costs | [1] | (142,021) | (115,133) | (446,459) | (397,398) | |||
Selling, general and administrative expenses | [1] | (53,945) | (44,122) | (151,156) | (127,537) | |||
Depreciation and amortization | (13,182) | (14,798) | (39,972) | (46,369) | ||||
(Loss) gains, net on dispositions | 0 | (51) | 0 | 4,361 | ||||
Restructuring charges | (2,362) | (2,461) | (14,803) | (9,820) | ||||
Operating income | 16,803 | 24,664 | 120,801 | 126,798 | ||||
Interest income | [1] | 341 | 2,482 | 2,275 | 5,804 | |||
Interest expense | (14,425) | (13,423) | (43,761) | (38,055) | ||||
Other income (expense), net | 78 | 8,070 | (1,545) | 6,784 | ||||
Income from operations before income taxes | 2,797 | 21,793 | 77,770 | 101,331 | ||||
Income tax expense | (2) | (73) | (397) | (804) | ||||
Net income | 2,795 | 21,720 | 77,373 | 100,527 | ||||
Less: Net loss attributable to nonredeemable noncontrolling interest | 0 | 0 | 0 | (553) | ||||
Net income attributable to MSG Entertainment’s stockholders | $ 2,795 | $ 21,720 | $ 77,373 | $ 101,080 | ||||
Income per share attributable to MSG Entertainment’s stockholders: | ||||||||
Basic (in dollars per share) | $ 0.06 | $ 0.42 | $ 1.59 | $ 1.95 | ||||
Diluted (in dollars per share) | $ 0.06 | $ 0.42 | $ 1.58 | $ 1.95 | ||||
Weighted-average number of shares of common stock: | ||||||||
Basic (in shares) | [2] | 48,109 | 51,768 | 48,675 | 51,768 | |||
Diluted (in shares) | [2] | 48,447 | 51,768 | 48,883 | 51,768 | |||
Revenues from entertainment offerings | ||||||||
Revenues | [1] | $ 146,221 | $ 129,260 | $ 581,025 | $ 524,331 | |||
Entertainment offerings, arena license fees, and other leasing direct operating expenses | ||||||||
Direct operating costs | [1] | (112,997) | (90,296) | (375,786) | (332,290) | |||
Food, beverage, and merchandise revenues | ||||||||
Revenues | [1] | 45,380 | 39,954 | 127,379 | 112,412 | |||
Direct operating costs | [1] | (29,024) | (24,837) | (70,673) | (65,108) | |||
Arena license fees and other leasing revenue | ||||||||
Revenues | [1] | $ 36,712 | $ 32,015 | $ 64,787 | $ 66,818 | |||
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate direct operating costs incurred during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, before tax, of income (loss) including portion attributable to noncontrolling interest. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income earned from interest bearing assets classified as other. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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