Corporate Debt (Tables)

12 Months Ended

Mar. 31, 2014

Long-term Debt and Capital Lease Obligations [Abstract]

Carrying Values of Corporate Debt, Excluding Film Obligations and Production Loans

The total carrying values of corporate debt of the Company, excluding film obligations and production loans, were as follows as of March 31, 2014 and March 31, 2013:

	March 31, 2014		March 31, 2013
	(Amounts in thousands)
Senior revolving credit facility	$	97,619	$	338,474
5.25% Senior Notes	225,000		—
10.25% Senior Notes, net of unamortized discount of $3,723	—		432,277
July 2013 7-Year Term Loan, net of unamortized discount of $2,247	222,753		—
Convertible senior subordinated notes, net of unamortized discount of $10,397 (March 31, 2013 - $22,686)	131,788		87,167
	$	677,160	$	857,918

Future Annual Contractual Principal Payment Commitments Under Corporate Debt

The following table sets forth future annual contractual principal payment commitments under corporate debt as of March 31, 2014:

	Conversion Price Per Share	Maturity Date or Next Holder Redemption Date (1)	Year Ended March 31,
Debt Type			2015		2016		2017		2018		2019		Thereafter		Total
			(Amounts in thousands)
Senior revolving credit facility	N/A	September 2017	$	—	$	—	$	—	$	97,619	$	—	$	—	$	97,619
5.25% Senior Notes	N/A	August 2018	—		—		—		—		225,000		—		225,000
July 2013 7-Year Term Loan	N/A	July 2020	—		—		—		—		—		225,000		225,000
Principal amounts of convertible senior subordinated notes:
October 2004 2.9375% Notes	$11.46	October 2014	115		—		—		—		—		—		115
April 2009 3.625% Notes	$8.22	March 2015	40,220		—		—		—		—		—		40,220
January 2012 4.00% Notes	$10.46	January 2017	—		—		41,850		—		—		—		41,850
April 2013 1.25% Notes	$29.89	April 2018	—		—		—		—		60,000		—		60,000
			$	40,335	$	—	$	41,850	$	97,619	$	285,000	$	225,000	689,804
Less aggregate unamortized discount															(12,644		)
															$	677,160

(1) The future repayment dates of the convertible senior subordinated notes represent the next redemption date by holders for each series of notes respectively, as described below.

Convertible Senior Subordinated Notes Outstanding

The following table sets forth the convertible senior subordinated notes outstanding at March 31, 2014 and March 31, 2013:

		March 31, 2014							March 31, 2013
	Conversion Price Per Share	Principal		Unamortized Discount			Net Carrying Amount		Principal		Unamortized Discount			Net Carrying Amount
		(Amounts in thousands)
Convertible Senior Subordinated Notes
October 2004 2.9375% Notes (1)	$11.46	$	115	$	—		$	115	$	348	$	—		$	348
April 2009 3.625% Notes (1)	$8.22	40,220		(4,605		)	35,615		64,505		(14,598		)	49,907
January 2012 4.00% Notes (1)	$10.46	41,850		(5,792		)	36,058		45,000		(8,088		)	36,912
April 2013 1.25% Notes (2)	$29.89	60,000		—			60,000		—		—			—
		$	142,185	$	(10,397	)	$	131,788	$	109,853	$	(22,686	)	$	87,167

________________

(1) The convertible senior subordinated notes provide, with the exception of the 1.25% Convertible Senior Subordinated Notes issued in April 2013 (the "April 2013 1.25% Notes"), at the Company's option, that the conversion of the notes may be settled in cash rather than in the Company's common shares, or a combination of cash and the Company's common shares. Accounting rules require that convertible debt instruments that may be settled in cash upon conversion (including partial cash settlement) are recorded by separately accounting for the liability and equity component (i.e., conversion feature), thereby reducing the principal amount with a debt discount that is amortized as interest expense over the expected life of the note using the effective interest method.

(2) The April 2013 1.25% Notes are convertible only into the Company's common shares, and do not carry an option to be settled in cash upon conversion. Accordingly, the April 2013 1.25% Notes have been recorded at their principal amount and are not reduced by a debt discount for the equity component.

Interest Expense on Convertible Senior Subordinated Notes

The effective interest rate on the liability component and the amount of interest expense, which includes both the contractual interest coupon and amortization of the discount on the liability component, for the years ended March 31, 2014, 2013 and 2012 are presented below.

	Year Ended March 31,
	2014		2013		2012
	(Amounts in thousands)
October 2004 2.9375% Notes:
Effective interest rate of liability component (9.65%)
Interest expense:
Contractual interest coupon	$	7	$	10	$	497
Amortization of discount on liability component and debt issuance costs	—		—		1,147
	7		10		1,644
February 2005 3.625% Notes:
Effective interest rate of liability component (10.03%)
Interest expense:
Contractual interest coupon	—		80		815
Amortization of discount on liability component and debt issuance costs	—		6		1,472
	—		86		2,287
April 2009 3.625% Notes:
Effective interest rate of liability component (17.26%)
Interest expense:
Contractual interest coupon	2,311		2,402		2,414
Amortization of discount on liability component and debt issuance costs	7,026		6,038		5,064
	9,337		8,440		7,478
January 2012 4.00% Notes:
Effective interest rate of liability component (9.56%)
Interest expense:
Contractual interest coupon	1,714		1,800		395
Amortization of discount on liability component and debt issuance costs	1,819		1,738		361
	3,533		3,538		756
April 2013 1.25% Notes:
Contractual interest coupon	719		—		—
	719		—		—
Total
Contractual interest coupon	4,751		4,292		4,121
Amortization of discount on liability component and debt issuance costs	8,845		7,782		8,044
	$	13,596	$	12,074	$	12,165