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Income Taxes (Tables)
12 Months Ended
Mar. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes
The Company’s Canadian, U.K., U.S., and Australian pretax income (loss), net of intercompany eliminations, are as follows:
 
Year Ended March 31,
 
Year Ended March 31,
 
Year Ended March 31,
 
2013
 
2012
 
2011
 
(Amounts in thousands)
Canada
$
(1,513
)
 
$
6,283

 
$
30,573

United Kingdom
13,760

 
14,872

 
3,122

United States
144,119

 
(55,465
)
 
(59,889
)
Australia
5

 
(113
)
 
69

 
$
156,371

 
$
(34,423
)
 
$
(26,125
)
Schedule of Current and Deferred Income Tax Provision (Benefits)
The Company’s current and deferred income tax provision (benefits) are as follows:
 
Year Ended March 31,
 
Year Ended March 31,
 
Year Ended March 31,
 
2013
 
2012
 
2011
TOTAL
(Amounts in thousands)
Current
$
12,143

 
$
3,439

 
$
3,567

Deferred
(87,899
)
 
1,256

 
689

 
$
(75,756
)
 
$
4,695

 
$
4,256

CANADA
 

 
 
 
 
Current
$

 
$
(126
)
 
$
576

Deferred

 
(44
)
 
(1,280
)
 

 
(170
)
 
(704
)
UNITED KINGDOM
 
 
 
 
 
Current
$
912

 
$
139

 
$
327

Deferred
292

 

 

 
1,204

 
139

 
327

UNITED STATES
 
 
 
 
 
Current
$
11,231

 
$
3,426

 
$
2,650

Deferred
(88,191
)
 
1,300

 
1,969

 
(76,960
)
 
4,726

 
4,619

AUSTRALIA
 
 
 
 
 
Current
$

 
$

 
$
14

Deferred

 

 

 

 

 
14

Schedule of Effective Income Tax Rate Reconciliation
The differences between income taxes expected at U.S. statutory income tax rates and the income tax provision are as set forth below:
 
Year Ended March 31,
 
Year Ended March 31,
 
Year Ended March 31,
 
2013
 
2012
 
2011
 
(Amounts in thousands)
Income taxes (tax benefits) computed at Federal statutory rate of 35%
$
54,730

 
$
(12,048
)
 
$
(9,144
)
Foreign and provincial operations subject to different income tax rates
(1,349
)
 
(2,305
)
 
(256
)
State income tax
5,225

 
460

 
427

Permanent differences
7,028

 
7,857

 
25,639

Other
(303
)
 
953

 
(903
)
Increase (decrease) in valuation allowance
(141,087
)
 
9,778

 
(11,507
)
 
$
(75,756
)
 
$
4,695

 
$
4,256



Schedule of Deferred Tax Assets and Liabilities
The income tax effects of temporary differences between the book value and tax basis of assets and liabilities are as follows:
 
March 31, 2013
 
March 31, 2012
 
(Amounts in thousands)
CANADA
 
 
 
Assets
 
 
 
Net operating losses
$
1,713

 
$
7,417

Property and equipment
1,884

 
1,883

Reserves
24

 
24

Other
13,297

 
6,042

Valuation allowance
(16,918
)
 
(14,955
)
 

 
411

Liabilities
 
 
 
Other

 
(411
)
Net Canada
$

 
$

 
 
 
 
UNITED KINGDOM
 
 
 
Assets
 
 
 
Net operating losses
$

 
$
1,987

Property and equipment
81

 
79

Other
294

 
972

Valuation Allowance

 
(2,175
)
 
375

 
863

Liabilities
 
 
 
Investment in film and television obligations
(656
)
 
(863
)
Net United Kingdom
$
(281
)
 
$

 
 
 
 
UNITED STATES
 
 
 
Assets
 
 
 
Net operating losses
$
28,214

 
$
58,590

Accounts payable
18,600

 
15,123

Other assets
56,965

 
47,440

Reserves
31,122

 
44,388

Valuation allowance
(8,916
)
 
(150,094
)
 
125,985

 
15,447

Liabilities
 
 
 
Investment in film and television obligations
(20,355
)
 
(4,827
)
Accounts receivable

 

Subordinated notes
(8,587
)
 
(11,608
)
Other
(14,072
)
 
(3,992
)
Net United States
$
82,971

 
$
(4,980
)
 
 
 
 
AUSTRALIA
 
 
 
Assets
 
 
 
Net operating losses
$

 
$

Property and equipment
1

 
1

Other
1

 
1

Valuation allowance
(2
)
 
(2
)
 

 

Liabilities

 

Net Australia
$

 
$

 
 
 
 
TOTAL
$
82,690

 
$
(4,980
)
Summary of Income Tax Contingencies
The following table summarizes the changes to the gross unrecognized tax benefits for the years ended March 31, 2013, 2012, and 2011:
 
Amounts
in millions)
Gross unrecognized tax benefits at April 1, 2010
$
0.4

Increases in tax positions

Decreases in tax positions
(0.1
)
Settlements

Lapse in statute of limitations

 
 

Gross unrecognized tax benefits at March 31, 2011
0.3

Increases in tax positions

Decreases in tax positions

Settlements

Lapse in statute of limitations

 
 

Gross unrecognized tax benefits at March 31, 2012
0.3

Increases in tax positions
0.9

Decreases in tax positions
(0.3
)
Settlements

Lapse in statute of limitations

 
 

Gross unrecognized tax benefits at March 31, 2013
$
0.9