Segment Information

3 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information

Accounting guidance requires the Company to make certain disclosures about each reportable segment. The Company’s reportable segments are determined based on the distinct nature of their operations and each segment is a strategic business unit that offers different products and services and is managed separately. The Company has two reportable business segments as of June 30, 2013: Motion Pictures and Television Production.

Motion Pictures consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired.

Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series and non-fiction programming.

Segmented information by business unit is as follows:

	Three Months Ended		Three Months Ended
	June 30, 2013		June 30, 2012
	(Amounts in thousands)
Segment revenues
Motion Pictures	$	438,646	$	406,534
Television Production	131,082		65,286
	$	569,728	$	471,820
Direct operating expenses
Motion Pictures	$	203,450	$	193,682
Television Production	102,995		52,136
	$	306,445	$	245,818
Distribution and marketing
Motion Pictures	$	165,100	$	172,900
Television Production	6,360		5,809
	$	171,460	$	178,709
Segment contribution before general and administration expenses
Motion Pictures	$	70,096	$	39,952
Television Production	21,727		7,341
	$	91,823	$	47,293
General and administration
Motion Pictures	$	16,425	$	16,835
Television Production	3,007		2,713
	$	19,432	$	19,548
Segment profit
Motion Pictures	$	53,671	$	23,117
Television Production	18,720		4,628
	$	72,391	$	27,745
Acquisition of investment in films and television programs
Motion Pictures	$	122,239	$	81,051
Television Production	38,694		79,954
	$	160,933	$	161,005

Segment contribution before general and administration expenses is defined as segment revenue less segment direct operating and distribution and marketing expenses.

Segment profit is defined as segment revenue less segment direct operating, distribution and marketing, and general and administration expenses. The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows:

	Three Months Ended			Three Months Ended
	June 30, 2013			June 30, 2012
	(Amounts in thousands)
Company’s total segment profit	$	72,391		$	27,745
Less:
Shared services and corporate expenses (1)	(37,338		)	(32,796		)
Depreciation and amortization	(1,625		)	(2,105		)
Interest expense	(20,814		)	(27,490		)
Interest and other income	1,496			950
Loss on extinguishment of debt	(466		)	(8,159		)
Equity interests income (loss)	7,977			(145		)
Income (loss) before income taxes	$	21,621		$	(42,000	)

________________________

(1) The following table presents certain charges included in shared services and corporate expenses:

	Three Months Ended		Three Months Ended
	June 30, 2013		June 30, 2012
	(Amounts in thousands)
Share-based compensation expense	$	17,747	$	9,749
Severance and transaction costs related to the acquisition of Summit	—		1,727
Other shared services and corporate expenses	19,591		21,320
	$	37,338	$	32,796

The following table sets forth significant assets as broken down by segment and other unallocated assets as of June 30, 2013 and March 31, 2013:

	June 30, 2013						March 31, 2013
	Motion Pictures		Television Production		Total		Motion Pictures		Television Production		Total
	(Amounts in thousands)
Significant assets by segment
Accounts receivable	$	572,486	$	246,952	$	819,438	$	551,400	$	235,750	$	787,150
Investment in films and television programs, net	981,808		203,842		1,185,650		1,002,800		241,275		1,244,075
Goodwill	294,367		28,961		323,328		294,367		28,961		323,328
	$	1,848,661	$	479,755	$	2,328,416	$	1,848,567	$	505,986	$	2,354,553
Other unallocated assets (primarily cash, other assets, and equity method investments)					380,676						406,316
Total assets					$	2,709,092					$	2,760,869

Purchases of property and equipment amounted to $1.4 million and $0.4 million for the three months ended June 30, 2013 and 2012, respectively.