Document
0001514991--12-312019Q3false4.755.004.75P3YP3Y00015149912019-01-012019-09-30xbrli:shares0001514991us-gaap:CommonClassAMember2019-10-250001514991us-gaap:CommonClassBMember2019-10-25iso4217:USD00015149912019-09-3000015149912018-12-31iso4217:USDxbrli:shares0001514991us-gaap:CommonClassAMember2019-09-300001514991us-gaap:CommonClassAMember2018-12-310001514991us-gaap:CommonClassBMember2019-09-300001514991us-gaap:CommonClassBMember2018-12-3100015149912019-07-012019-09-3000015149912018-07-012018-09-3000015149912018-01-012018-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-06-300001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-06-300001514991us-gaap:AdditionalPaidInCapitalMember2019-06-300001514991us-gaap:RetainedEarningsMember2019-06-300001514991us-gaap:TreasuryStockMember2019-06-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300001514991us-gaap:ParentMember2019-06-300001514991us-gaap:NoncontrollingInterestMember2019-06-3000015149912019-06-300001514991us-gaap:RetainedEarningsMember2019-07-012019-09-300001514991us-gaap:ParentMember2019-07-012019-09-300001514991us-gaap:NoncontrollingInterestMember2019-07-012019-09-300001514991us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300001514991us-gaap:TreasuryStockMember2019-07-012019-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-09-300001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-09-300001514991us-gaap:AdditionalPaidInCapitalMember2019-09-300001514991us-gaap:RetainedEarningsMember2019-09-300001514991us-gaap:TreasuryStockMember2019-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300001514991us-gaap:ParentMember2019-09-300001514991us-gaap:NoncontrollingInterestMember2019-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2018-12-310001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2018-12-310001514991us-gaap:AdditionalPaidInCapitalMember2018-12-310001514991us-gaap:RetainedEarningsMember2018-12-310001514991us-gaap:TreasuryStockMember2018-12-310001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310001514991us-gaap:ParentMember2018-12-310001514991us-gaap:NoncontrollingInterestMember2018-12-310001514991us-gaap:RetainedEarningsMember2019-01-012019-09-300001514991us-gaap:ParentMember2019-01-012019-09-300001514991us-gaap:NoncontrollingInterestMember2019-01-012019-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-300001514991us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-300001514991us-gaap:TreasuryStockMember2019-01-012019-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-01-012019-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2018-06-300001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2018-06-300001514991us-gaap:AdditionalPaidInCapitalMember2018-06-300001514991us-gaap:RetainedEarningsMember2018-06-300001514991us-gaap:TreasuryStockMember2018-06-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-06-300001514991us-gaap:ParentMember2018-06-300001514991us-gaap:NoncontrollingInterestMember2018-06-3000015149912018-06-300001514991us-gaap:RetainedEarningsMember2018-07-012018-09-300001514991us-gaap:ParentMember2018-07-012018-09-300001514991us-gaap:NoncontrollingInterestMember2018-07-012018-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-07-012018-09-300001514991us-gaap:AdditionalPaidInCapitalMember2018-07-012018-09-300001514991us-gaap:TreasuryStockMember2018-07-012018-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2018-09-300001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2018-09-300001514991us-gaap:AdditionalPaidInCapitalMember2018-09-300001514991us-gaap:RetainedEarningsMember2018-09-300001514991us-gaap:TreasuryStockMember2018-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-09-300001514991us-gaap:ParentMember2018-09-300001514991us-gaap:NoncontrollingInterestMember2018-09-3000015149912018-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2017-12-310001514991us-gaap:CommonClassBMemberus-gaap:CommonStockMember2017-12-310001514991us-gaap:AdditionalPaidInCapitalMember2017-12-310001514991us-gaap:RetainedEarningsMember2017-12-310001514991us-gaap:TreasuryStockMember2017-12-310001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310001514991us-gaap:ParentMember2017-12-310001514991us-gaap:NoncontrollingInterestMember2017-12-3100015149912017-12-310001514991us-gaap:RetainedEarningsMember2018-01-012018-09-300001514991us-gaap:ParentMember2018-01-012018-09-300001514991us-gaap:NoncontrollingInterestMember2018-01-012018-09-300001514991us-gaap:RetainedEarningsMember2018-01-010001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-01-010001514991us-gaap:ParentMember2018-01-0100015149912018-01-010001514991us-gaap:AdditionalPaidInCapitalMember2018-01-012018-09-300001514991us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-01-012018-09-300001514991us-gaap:TreasuryStockMember2018-01-012018-09-300001514991us-gaap:CommonStockMemberus-gaap:CommonClassAMember2018-01-012018-09-30amcx:segmentamcx:network0001514991us-gaap:OtherRestructuringMember2019-01-012019-09-300001514991us-gaap:AccountingStandardsUpdate201602Member2019-01-010001514991us-gaap:EmployeeStockOptionMember2019-07-012019-09-300001514991us-gaap:EmployeeStockOptionMember2018-07-012018-09-300001514991us-gaap:EmployeeStockOptionMember2019-01-012019-09-300001514991us-gaap:EmployeeStockOptionMember2018-01-012018-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2019-07-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2018-07-012018-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2018-01-012018-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2018-01-012018-09-300001514991us-gaap:CommonClassAMember2019-01-012019-09-300001514991amcx:OwnedSubscriptionStreamingServicesRestructuringMember2019-01-012019-09-300001514991amcx:PreviouslyAnnouncedRestructuringInitiativesMember2019-01-012019-09-300001514991amcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991amcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991amcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991amcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991us-gaap:IntersegmentEliminationMember2019-07-012019-09-300001514991us-gaap:IntersegmentEliminationMember2019-01-012019-09-300001514991us-gaap:EmployeeSeveranceMember2018-12-310001514991us-gaap:OtherRestructuringMember2018-12-310001514991us-gaap:EmployeeSeveranceMember2019-01-012019-09-300001514991us-gaap:EmployeeSeveranceMember2019-09-300001514991us-gaap:OtherRestructuringMember2019-09-300001514991amcx:RLJEMember2019-01-012019-09-300001514991amcx:RLJEMember2018-10-012018-10-010001514991amcx:RLJEMember2018-10-01xbrli:pure0001514991amcx:LevityMember2018-04-200001514991us-gaap:CommonClassBMemberamcx:LevityMember2018-04-200001514991amcx:SeriesLPreferredStockMemberamcx:LevityMember2018-04-200001514991amcx:LevityMember2019-01-012019-09-300001514991amcx:NationalNetworksMember2018-12-310001514991amcx:InternationalAndOtherMember2018-12-310001514991amcx:NationalNetworksMember2019-01-012019-09-300001514991amcx:InternationalAndOtherMember2019-01-012019-09-300001514991amcx:NationalNetworksMember2019-09-300001514991amcx:InternationalAndOtherMember2019-09-300001514991us-gaap:CustomerRelationshipsMember2019-09-300001514991us-gaap:CustomerRelationshipsMembersrt:MinimumMember2019-01-012019-09-300001514991us-gaap:CustomerRelationshipsMembersrt:MaximumMember2019-01-012019-09-300001514991amcx:AdvertiserRelationshipsMember2019-09-300001514991amcx:AdvertiserRelationshipsMember2019-01-012019-09-300001514991us-gaap:TradeNamesMember2019-09-300001514991srt:MinimumMemberus-gaap:TradeNamesMember2019-01-012019-09-300001514991srt:MaximumMemberus-gaap:TradeNamesMember2019-01-012019-09-300001514991us-gaap:OtherIntangibleAssetsMember2019-09-300001514991srt:MinimumMemberus-gaap:OtherIntangibleAssetsMember2019-01-012019-09-300001514991srt:MaximumMemberus-gaap:OtherIntangibleAssetsMember2019-01-012019-09-300001514991us-gaap:CustomerRelationshipsMember2018-12-310001514991amcx:AdvertiserRelationshipsMember2018-12-310001514991us-gaap:TradeNamesMember2018-12-310001514991us-gaap:OtherIntangibleAssetsMember2018-12-310001514991amcx:TermAFacilityMemberus-gaap:SecuredDebtMember2019-09-300001514991amcx:TermAFacilityMemberus-gaap:SecuredDebtMember2018-12-310001514991amcx:A4.75SeniorNotesDue2025Member2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A4.75SeniorNotesDue2025Member2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A4.75SeniorNotesDue2025Member2018-12-310001514991amcx:A5.00SeniorNotesMember2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A5.00SeniorNotesMember2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A5.00SeniorNotesMember2018-12-310001514991amcx:A475SeniorNotesMember2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A475SeniorNotesMember2019-09-300001514991us-gaap:SeniorNotesMemberamcx:A475SeniorNotesMember2018-12-310001514991us-gaap:SeniorNotesMemberamcx:OtherDebtMember2019-09-300001514991us-gaap:SeniorNotesMemberamcx:OtherDebtMember2018-12-310001514991us-gaap:RevolvingCreditFacilityMember2019-09-300001514991us-gaap:FairValueInputsLevel1Member2019-09-300001514991us-gaap:FairValueInputsLevel2Member2019-09-300001514991us-gaap:FairValueInputsLevel3Member2019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2019-09-300001514991us-gaap:InterestRateSwapMember2019-09-300001514991us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeForwardMember2019-09-300001514991us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeForwardMember2019-09-300001514991us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2019-09-300001514991us-gaap:ForeignExchangeForwardMember2019-09-300001514991us-gaap:FairValueInputsLevel1Member2018-12-310001514991us-gaap:FairValueInputsLevel2Member2018-12-310001514991us-gaap:FairValueInputsLevel3Member2018-12-310001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2018-12-310001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2018-12-310001514991us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2018-12-310001514991us-gaap:InterestRateSwapMember2018-12-310001514991us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeForwardMember2018-12-310001514991us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeForwardMember2018-12-310001514991us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2018-12-310001514991us-gaap:ForeignExchangeForwardMember2018-12-310001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMemberamcx:RLJEMember2018-07-012018-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMemberamcx:RLJEMember2018-01-012018-09-300001514991amcx:TermAFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:TermAFacilityMember2019-09-300001514991amcx:A4.75SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300001514991amcx:A4.75SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:A5.00SeniorNotesMember2019-09-300001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:A5.00SeniorNotesMember2019-09-300001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:A475SeniorNotesMember2019-09-300001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:A475SeniorNotesMember2019-09-300001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:OtherDebtMember2019-09-300001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:OtherDebtMember2019-09-300001514991us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300001514991us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300001514991amcx:TermAFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:TermAFacilityMember2018-12-310001514991amcx:A4.75SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310001514991amcx:A4.75SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:A5.00SeniorNotesMember2018-12-310001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:A5.00SeniorNotesMember2018-12-310001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:A475SeniorNotesMember2018-12-310001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:A475SeniorNotesMember2018-12-310001514991us-gaap:CarryingReportedAmountFairValueDisclosureMemberamcx:OtherDebtMember2018-12-310001514991us-gaap:EstimateOfFairValueFairValueDisclosureMemberamcx:OtherDebtMember2018-12-310001514991us-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310001514991us-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310001514991us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberus-gaap:AccruedLiabilitiesMember2019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMemberus-gaap:AccruedLiabilitiesMember2018-12-310001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2019-09-300001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2018-12-310001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:OtherAssetsMember2019-09-300001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:OtherAssetsMember2018-12-310001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:AccruedLiabilitiesMember2019-09-300001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:AccruedLiabilitiesMember2018-12-310001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:OtherLiabilitiesMember2019-09-300001514991us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:OtherLiabilitiesMember2018-12-310001514991us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-07-012019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2018-07-012018-09-300001514991us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2019-07-012019-09-300001514991us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2018-07-012018-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2019-01-012019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2018-01-012018-09-300001514991us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2019-01-012019-09-300001514991us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2018-01-012018-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2019-07-012019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2018-07-012018-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2019-01-012019-09-300001514991us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2018-01-012018-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeForwardMember2019-07-012019-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeForwardMember2018-07-012018-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeForwardMember2019-01-012019-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeForwardMember2018-01-012018-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMember2019-07-012019-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMember2018-07-012018-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMember2019-01-012019-09-300001514991us-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:OtherContractMember2018-01-012018-09-300001514991us-gaap:ThreatenedLitigationMembersrt:MinimumMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMemberamcx:A2011StockPlanforNonEmployeeDirectorsMember2019-06-012019-06-300001514991us-gaap:RestrictedStockUnitsRSUMemberamcx:A2016EmployeeStockPlanMember2019-03-012019-03-310001514991amcx:A2016EmployeeStockPlanMemberus-gaap:PerformanceSharesMember2019-03-012019-03-310001514991us-gaap:RestrictedStockUnitsRSUMemberamcx:A2016EmployeeStockPlanMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMemberamcx:A2016EmployeeStockPlanMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2019-03-012019-03-310001514991amcx:A2016EmployeeStockPlanMemberus-gaap:PerformanceSharesMember2019-01-012019-09-300001514991amcx:A2016EmployeeStockPlanMemberus-gaap:PerformanceSharesMembersrt:MinimumMember2019-01-012019-09-300001514991amcx:A2016EmployeeStockPlanMemberus-gaap:PerformanceSharesMembersrt:MaximumMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonClassAMember2019-01-012019-09-300001514991us-gaap:CommonClassAMemberus-gaap:PerformanceSharesMember2019-01-012019-09-300001514991us-gaap:PerformanceSharesMember2019-01-012019-09-300001514991us-gaap:RestrictedStockUnitsRSUMember2019-09-300001514991amcx:NationalNetworksMemberus-gaap:AdvertisingMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991us-gaap:AdvertisingMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:AdvertisingMember2019-07-012019-09-300001514991us-gaap:AdvertisingMember2019-07-012019-09-300001514991us-gaap:EntertainmentMemberamcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991us-gaap:EntertainmentMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-07-012019-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:EntertainmentMember2019-07-012019-09-300001514991us-gaap:EntertainmentMember2019-07-012019-09-300001514991amcx:NationalNetworksMemberus-gaap:AdvertisingMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991us-gaap:AdvertisingMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:AdvertisingMember2018-07-012018-09-300001514991us-gaap:AdvertisingMember2018-07-012018-09-300001514991us-gaap:EntertainmentMemberamcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991us-gaap:EntertainmentMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:EntertainmentMember2018-07-012018-09-300001514991us-gaap:EntertainmentMember2018-07-012018-09-300001514991amcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991amcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-07-012018-09-300001514991us-gaap:IntersegmentEliminationMember2018-07-012018-09-300001514991amcx:NationalNetworksMemberus-gaap:AdvertisingMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991us-gaap:AdvertisingMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:AdvertisingMember2019-01-012019-09-300001514991us-gaap:AdvertisingMember2019-01-012019-09-300001514991us-gaap:EntertainmentMemberamcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991us-gaap:EntertainmentMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2019-01-012019-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:EntertainmentMember2019-01-012019-09-300001514991us-gaap:EntertainmentMember2019-01-012019-09-300001514991amcx:NationalNetworksMemberus-gaap:AdvertisingMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991us-gaap:AdvertisingMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:AdvertisingMember2018-01-012018-09-300001514991us-gaap:AdvertisingMember2018-01-012018-09-300001514991us-gaap:EntertainmentMemberamcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991us-gaap:EntertainmentMemberamcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991us-gaap:IntersegmentEliminationMemberus-gaap:EntertainmentMember2018-01-012018-09-300001514991us-gaap:EntertainmentMember2018-01-012018-09-300001514991amcx:NationalNetworksMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991amcx:InternationalAndOtherMemberus-gaap:OperatingSegmentsMember2018-01-012018-09-300001514991us-gaap:IntersegmentEliminationMember2018-01-012018-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:NationalNetworksMember2019-07-012019-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:NationalNetworksMember2018-07-012018-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:NationalNetworksMember2019-01-012019-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:NationalNetworksMember2018-01-012018-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:InternationalAndOtherMember2019-07-012019-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:InternationalAndOtherMember2018-07-012018-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:InternationalAndOtherMember2019-01-012019-09-300001514991us-gaap:IntersegmentEliminationMemberamcx:InternationalAndOtherMember2018-01-012018-09-300001514991srt:NorthAmericaMember2019-07-012019-09-300001514991srt:NorthAmericaMember2018-07-012018-09-300001514991srt:NorthAmericaMember2019-01-012019-09-300001514991srt:NorthAmericaMember2018-01-012018-09-300001514991srt:EuropeMember2019-07-012019-09-300001514991srt:EuropeMember2018-07-012018-09-300001514991srt:EuropeMember2019-01-012019-09-300001514991srt:EuropeMember2018-01-012018-09-300001514991amcx:OtherGeographicLocationsMember2019-07-012019-09-300001514991amcx:OtherGeographicLocationsMember2018-07-012018-09-300001514991amcx:OtherGeographicLocationsMember2019-01-012019-09-300001514991amcx:OtherGeographicLocationsMember2018-01-012018-09-300001514991srt:NorthAmericaMember2019-09-300001514991srt:NorthAmericaMember2018-12-310001514991srt:EuropeMember2019-09-300001514991srt:EuropeMember2018-12-310001514991amcx:OtherGeographicLocationsMember2019-09-300001514991amcx:OtherGeographicLocationsMember2018-12-310001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2019-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2019-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2019-09-300001514991srt:ConsolidationEliminationsMember2019-09-300001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2018-12-310001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2018-12-310001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2018-12-310001514991srt:ConsolidationEliminationsMember2018-12-310001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2019-07-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2019-07-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2019-07-012019-09-300001514991srt:ConsolidationEliminationsMember2019-07-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2018-07-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2018-07-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2018-07-012018-09-300001514991srt:ConsolidationEliminationsMember2018-07-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2019-01-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2019-01-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2019-01-012019-09-300001514991srt:ConsolidationEliminationsMember2019-01-012019-09-300001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2018-01-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2018-01-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2018-01-012018-09-300001514991srt:ConsolidationEliminationsMember2018-01-012018-09-300001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2017-12-310001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2017-12-310001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2017-12-310001514991srt:ConsolidationEliminationsMember2017-12-310001514991srt:ReportableLegalEntitiesMembersrt:ParentCompanyMember2018-09-300001514991srt:ReportableLegalEntitiesMembersrt:GuarantorSubsidiariesMember2018-09-300001514991srt:ReportableLegalEntitiesMembersrt:NonGuarantorSubsidiariesMember2018-09-300001514991srt:ConsolidationEliminationsMember2018-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q

Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2019
or
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from   to
Commission File Number: 1-35106
AMC Networks Inc.
(Exact name of registrant as specified in its charter)

Delaware27-5403694
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
11 Penn Plaza,
New York,NY10001
(Address of principal executive offices)(Zip Code)
(212) 324-8500
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s) Name of each exchange on which registered  
Class A Common Stock, par value $0.01 per shareAMCXThe  NASDAQStock Market LLC  

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  þ    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  þ    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company (as defined in Exchange Act Rule 12b-2).
Large accelerated filerþAccelerated filer¨
Non-accelerated filer¨Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  þ
The number of shares of common stock outstanding as of October 25, 2019:
Class A Common Stock par value $0.01 per share44,073,798  
Class B Common Stock par value $0.01 per share11,484,408  




AMC NETWORKS INC. AND SUBSIDIARIES
FORM 10-Q
TABLE OF CONTENTS
 
Page




PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
(unaudited)

September 30, 2019December 31, 2018
ASSETS
Current Assets:
Cash and cash equivalents$773,386  $554,886  
Accounts receivable, trade (less allowance for doubtful accounts of $8,645 and $10,788)
807,481  835,977  
Current portion of program rights, net456,288  440,739  
Prepaid expenses and other current assets187,755  131,809  
Total current assets2,224,910  1,963,411  
Property and equipment, net of accumulated depreciation of $333,475 and $293,918
269,287  246,262  
Program rights, net1,051,068  1,214,051  
Deferred carriage fees, net17,332  16,831  
Intangible assets, net540,365  578,907  
Goodwill782,234  798,037  
Deferred tax asset, net61,376  19,272  
Operating lease right-of-use asset172,575    
Other assets499,062  441,792  
Total assets$5,618,209  $5,278,563  
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable$123,838  $107,066  
Accrued liabilities238,937  264,918  
Current portion of program rights obligations310,688  343,589  
Deferred revenue65,725  55,424  
Current portion of long-term debt47,875  21,334  
Current portion of lease obligations 33,349  5,090  
Total current liabilities820,412  797,421  
Program rights obligations284,424  373,249  
Long-term debt3,056,692  3,088,221  
Lease obligations215,251  21,427  
Deferred tax liability, net122,384  145,443  
Other liabilities159,641  208,036  
Total liabilities4,658,804  4,633,797  
Commitments and contingencies
Redeemable noncontrolling interests304,606  299,558  
Stockholders' equity:
Class A Common Stock, $0.01 par value, 360,000 shares authorized, 63,851 and 63,255 shares issued and 44,043 and 44,749 shares outstanding, respectively
639  633  
Class B Common Stock, $0.01 par value, 90,000 shares authorized, 11,484 shares issued and outstanding
115  115  
Preferred stock, $0.01 par value, 45,000 shares authorized; none issued
    
Paid-in capital272,823  239,767  
Accumulated earnings1,618,005  1,228,942  
Treasury stock, at cost (19,808 and 18,507 shares Class A Common Stock, respectively)
(1,063,181) (992,583) 
Accumulated other comprehensive loss(200,277) (160,194) 
Total AMC Networks stockholders' equity628,124  316,680  
Non-redeemable noncontrolling interests26,675  28,528  
Total stockholders' equity654,799  345,208  
Total liabilities and stockholders' equity$5,618,209  $5,278,563  
See accompanying notes to condensed consolidated financial statements.
1


AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
(unaudited)

Three Months Ended September 30,Nine Months Ended September 30,
 2019201820192018
Revenues, net
$718,597  $696,875  $2,275,117  $2,199,083  
Operating expenses:
Technical and operating (excluding depreciation and amortization)
354,992  346,398  1,080,763  1,043,572  
Selling, general and administrative
159,357  156,242  505,233  494,067  
Depreciation and amortization25,619  22,011  75,568  64,034  
Impairment and related charges—  4,486  —  4,486  
Restructuring and other related charges10,191  3,139  29,995  3,139  
Total operating expenses550,159  532,276  1,691,559  1,609,298  
Operating income168,438  164,599  583,558  589,785  
Other income (expense):
Interest expense(39,621) (38,137) (118,982) (115,607) 
Interest income4,626  5,102  13,571  15,453  
Miscellaneous, net(1,490) 28,762  (16,972) 30,989  
Total other (expense) income(36,485) (4,273) (122,383) (69,165) 
Income from operations before income taxes131,953  160,326  461,175  520,620  
Income tax expense(8,727) (43,666) (53,807) (133,092) 
Net income including noncontrolling interests123,226  116,660  407,368  387,528  
Net income attributable to noncontrolling interests(6,303) (5,403) (18,305) (13,220) 
Net income attributable to AMC Networks' stockholders$116,923  $111,257  $389,063  $374,308  
Net income per share attributable to AMC Networks' stockholders:
Basic$2.09  $1.96  $6.91  $6.40  
Diluted$2.07  $1.93  $6.80  $6.31  
Weighted average common shares:
Basic55,847  56,875  56,339  58,519  
Diluted56,605  57,779  57,218  59,281  
See accompanying notes to condensed consolidated financial statements.
2


AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in thousands)
(unaudited)
 
Three Months Ended September 30,Nine Months Ended September 30,
 2019201820192018
Net income including noncontrolling interests$123,226  $116,660  $407,368  $387,528  
Other comprehensive income (loss):
Foreign currency translation adjustment(33,281) (6,094) (38,490) (32,679) 
Unrealized loss on interest rate swaps(187)   (2,076)   
Other comprehensive loss, before income taxes(33,468) (6,094) (40,566) (32,679) 
Income tax benefit335    483    
Other comprehensive loss, net of income taxes(33,133) (6,094) (40,083) (32,679) 
Comprehensive income90,093  110,566  367,285  354,849  
Comprehensive income attributable to noncontrolling interests
(5,217) (5,218) (17,048) (11,954) 
Comprehensive income attributable to AMC Networks' stockholders
$84,876  $105,348  $350,237  $342,895  
See accompanying notes to condensed consolidated financial statements.
3


AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(in thousands)
(unaudited)
Class A
Common
Stock
Class B
Common
Stock
Paid-in
Capital
Accumulated EarningsTreasury
Stock
Accumulated
Other
Comprehensive
Loss
AMC Networks Stockholders’
Equity
Noncontrolling InterestsTotal Stockholders' Equity
Balance, June 30, 2019$639  $115  $258,150  $1,501,082  $(1,051,022) $(167,144) $541,820  $26,693  $568,513  
Net income attributable to AMC Networks’ stockholders—  —  —  116,923  —  —  116,923  —  116,923  
Net income attributable to non-redeemable noncontrolling interests—  —  —  —  —  —  —  1,772  1,772  
Distributions to noncontrolling member—  —  —  —  —  —  —  (705) (705) 
Settlement of treasury stock—  —  832  —  —  —  832  —  832  
Other comprehensive income—  —  —  —  —  (33,133) (33,133) (1,085) (34,218) 
Share-based compensation expense—  —  13,841  —  —  —  13,841  —  13,841  
Treasury stock acquired—  —  —  —  (12,159) —  (12,159) —  (12,159) 
Balance, September 30, 2019$639  $115  $272,823  $1,618,005  $(1,063,181) $(200,277) $628,124  $26,675  $654,799  


Class A
Common
Stock
Class B
Common
Stock
Paid-in
Capital
Accumulated EarningsTreasury
Stock
Accumulated
Other
Comprehensive
Loss
AMC Networks Stockholders’
Equity
Noncontrolling InterestsTotal Stockholders' Equity
Balance, December 31, 2018$633  $115  $239,767  $1,228,942  $(992,583) $(160,194) $316,680  $28,528  $345,208  
Net income attributable to AMC Networks’ stockholders—  —  —  389,063  —  —  389,063  —  389,063  
Net income attributable to non-redeemable noncontrolling interests—  —  —  —  —  —  —  2,842  2,842  
Distributions to noncontrolling member—  —  —  —  —  —  —  (3,439) (3,439) 
Other comprehensive income—  —  —  —  —  (40,083) (40,083) (1,256) (41,339) 
Share-based compensation expense—  —  50,465  —  —  —  50,465  —  50,465  
Proceeds from the exercise of stock options—  —  4,630  —  —  —  4,630  —  4,630  
Treasury stock acquired—  —  985  —  (70,598) —  (69,613) —  (69,613) 
Restricted stock units converted to shares6  —  (23,024) —  —  —  (23,018) —  (23,018) 
Balance, September 30, 2019$639  $115  $272,823  $1,618,005  $(1,063,181) $(200,277) $628,124  $26,675  $654,799  









See accompanying notes to consolidated financial statements.

4


AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(in thousands)
(unaudited)
Class A
Common
Stock
Class B
Common
Stock
Paid-in
Capital
Accumulated EarningsTreasury
Stock
Accumulated
Other
Comprehensive
Loss
AMC Networks Stockholders’
Equity
Noncontrolling InterestsTotal Stockholders' Equity
Balance, June 30, 2018$632  $115  $215,948  $1,045,806  $(951,850) $(144,752) $165,899  $29,521  $195,420  
Net income attributable to AMC Networks’ stockholders—  —  —  111,257  —  —  111,257  —  111,257  
Net income attributable to non-redeemable noncontrolling interests—  —  —  —  —  —  —  281  281  
Other comprehensive income—  —  —  —  —  (6,094) (6,094) (1,169) (7,263) 
Share-based compensation expense—  —  16,934  —  —  —  16,934  —  16,934  
Treasury stock acquired—  —  —  —  (24,990) —  (24,990) —  (24,990) 
Balance, September 30, 2018$632  $115  $232,882  $1,157,063  $(976,840) $(150,846) $263,006  $28,633  $291,639  


Class A
Common
Stock
Class B
Common
Stock
Paid-in
Capital
Accumulated EarningsTreasury
Stock
Accumulated
Other
Comprehensive
Loss
AMC Networks Stockholders’
Equity
Noncontrolling InterestsTotal Stockholders' Equity
Balance, December 31, 2017$627  $115  $191,303  $766,725  $(709,440) $(114,386) $134,944  $29,001  $163,945  
Net income attributable to AMC Networks’ stockholders—  —  —  374,308  —  —  374,308  —  374,308  
Net income attributable to non-redeemable noncontrolling interests—  —  —  —  —  —  —  1,882  1,882  
Distributions to noncontrolling member—  —  —  —  —  —  —  (984) (984) 
Cumulative effects of adoption of accounting standards—  —  —  16,030  (3,781) 12,249  —  12,249  
Settlement of treasury stock—  —  996  —  —  —  996  —  996  
Other comprehensive income—  —  —  —  —  (32,679) (32,679) (1,266) (33,945) 
Proceeds from the exercise of stock options—  —  4,317  —  —  —  4,317  —  4,317  
Share-based compensation expense—  —  52,006  —  —  —  52,006  —  52,006  
Treasury stock acquired—  —  —  —  (267,400) —  (267,400) —  (267,400) 
Restricted stock units converted to shares5  —  (15,740) —  —  —  (15,735) —  (15,735) 
Balance, September 30, 2018$632  $115  $232,882  $1,157,063  $(976,840) $(150,846) $263,006  $28,633  $291,639  


See accompanying notes to consolidated financial statements.
5


AMC NETWORKS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months Ended September 30,
20192018
Cash flows from operating activities:
Net income including noncontrolling interests$407,368  $387,528  
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization75,568  64,034  
Impairment and related charges  4,486  
Share-based compensation expense related to equity classified awards50,465  52,006  
Non-cash restructuring and other related charges14,026    
Amortization and write-off of program rights696,326  684,289  
Amortization of deferred carriage fees14,624  13,107  
Unrealized foreign currency transaction loss (gain)489  (712) 
Unrealized gain on derivative contracts, net  (40,848) 
Amortization of deferred financing costs and discounts on indebtedness5,970  5,746  
Bad debt expense3,628  6,155  
Deferred income taxes(65,245) 39,404  
Write-down of non-marketable equity securities and note receivable20,206    
Other, net(8,481) (887)</