0001514991-24-000034 | 10-Q | XBRL Viewer

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Derivative Financial Instruments (Fair Value of Derivative Instruments Included in Balance Sheets) (Details) - Derivatives not designated as hedging instruments - Foreign currency derivatives - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid expenses and other current assets
Derivatives not designated as hedging instruments:
Foreign currency derivative assets	$ 708	$ 378
Other assets
Derivatives not designated as hedging instruments:
Foreign currency derivative assets	6,729	7,899
Accrued liabilities
Derivatives not designated as hedging instruments:
Foreign currency derivative liabilities	1,019	1,065
Current portion of program rights obligations
Derivatives not designated as hedging instruments:
Foreign currency derivative liabilities	0	8
Other liabilities
Derivatives not designated as hedging instruments:
Foreign currency derivative liabilities	$ 1,126	$ 1,222

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of AMC Networks and its subsidiaries in which a controlling financial interest is maintained or variable interest entities ("VIEs") in which the Company has determined it is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Investments in business entities in which the Company lacks control but does have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method of accounting.
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements These condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and Article 10 of Regulation S-X of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the Company's consolidated financial statements and notes thereto for the year ended December 31, 2023 contained in the Company's Annual Report on Form 10-K (our "2023 Form 10-K") filed with the SEC. The condensed consolidated financial statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, such financial statements reflect all adjustments, consisting solely of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. The results of operations for interim periods are not necessarily indicative of the results that might be expected for future interim periods or for the full year ending December 31, 2024.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates and judgments inherent in the preparation of the consolidated financial statements include the useful lives and methodologies used to amortize and assess recoverability of program rights, the estimated useful lives of intangible assets and the valuation and recoverability of goodwill and intangible assets.
Reclassifications	Reclassifications Certain reclassifications were made to the prior period amounts to conform to the current period presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The Company will incorporate the required disclosure updates for the 2025 annual financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The Company will incorporate the required disclosure updates for the 2024 annual financial statements.
Program Rights	For programming rights predominantly monetized individually or as a group, the Company periodically reviews the programming usefulness of licensed and owned original program rights based on several factors, including expected future revenue generation from airings on the Company's networks and streaming services and other exploitation opportunities, ratings, type and quality of program material, standards and practices, and fitness for exhibition through various forms of distribution. If events or changes in circumstances indicate that the fair value of a film predominantly monetized individually or a film group is less than its unamortized cost, the Company will write off the excess to technical and operating expenses in the condensed consolidated statements of income (loss). Program rights with no future programming usefulness are substantively abandoned resulting in the write-off of remaining unamortized cost.

Net Income per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income per Share

Net income (loss) per basic share is based upon net income (loss) attributable to AMC Networks' stockholders divided by the weighted average number of shares of Class A and Class B Common Stock outstanding during the period. Net income (loss) per diluted share reflects the dilutive effects of AMC Networks' outstanding equity-based awards and the assumed conversion of the 4.25% Convertible Senior Notes due 2029 (the "Convertible Notes") issued in June 2024.


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income (loss) attributable to AMC Networks' stockholders used for basic net income (loss) per share	$	(29,234)	$	70,239	$	16,569	$	173,849
Add: Convertible Notes interest expense, net of tax	—		—		116		—
Net income (loss) attributable to AMC Networks' stockholders used for diluted net income (loss) per share	$	(29,234)	$	70,239	$	16,685	$	173,849

Basic weighted average common shares outstanding	44,466		43,842		44,267		43,702
Effect of dilution:
Restricted stock units	—		58		556		133
Convertible Notes	—		—		620		—
Diluted weighted average common shares outstanding	44,466		43,900		45,443		43,835

Net income (loss) per share attributable to AMC Networks' stockholders:
Basic	$	(0.66)	$	1.60	$	0.37	$	3.98
Diluted	$	(0.66)	$	1.60	$	0.37	$	3.97

For the three months ended June 30, 2024, all 3.4 million of our restricted stock units and the weighted average impact of 11.3 million common shares related to the assumed conversion of the Company's Convertible Notes were excluded from the calculation of diluted net income (loss) per share because their inclusion would have been antidilutive since we reported a net loss.

For the six months ended June 30, 2024, 0.2 million of restricted stock units have been excluded from the diluted weighted average common shares outstanding, as their impact would have been antidilutive.

For the three and six months ended June 30, 2023, 2.1 million of restricted stock units have been excluded from diluted weighted average common shares outstanding, as their impact would have been antidilutive.

Stock Repurchase Program

The Company's Board of Directors previously authorized a program to repurchase up to $1.5 billion of its outstanding shares of common stock (the "Stock Repurchase Program"). The Stock Repurchase Program has no pre-established closing date and may be suspended or discontinued at any time. For the three and six months ended June 30, 2024 and 2023, the Company did not repurchase any shares of its Class A Common Stock. As of June 30, 2024, the Company had $135.3 million of authorization remaining for repurchase under the Stock Repurchase Program.

Long-term Debt (Narrative) (Details)				1 Months Ended		3 Months Ended		6 Months Ended
Long-term Debt (Narrative) (Details)	Jun. 21, 2024 USD ($) d $ / shares	Apr. 22, 2024 USD ($)	Apr. 09, 2024 USD ($)	Jun. 30, 2024 USD ($) $ / shares	Mar. 31, 2024 USD ($)	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares
Debt Instrument [Line Items]
Debt instrument, repurchases discount				$ 28,092,000		$ 28,092,000		$ 28,092,000		$ 13,873,000
Gain on extinguishment of debt, net						247,000	$ 0	247,000	$ 0
Unamortized deferred costs written off			$ 1,300,000
Proceeds from convertible debt								139,437,000	0
Long-term debt				$ 2,420,635,000		$ 2,420,635,000		2,420,635,000		$ 2,382,229,000
Repayments of secured debt								190,625,000	16,875,000
Net proceeds								$ 862,969,000	$ 0
Class A Common Stock
Debt Instrument [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01			$ 0.01		$ 0.01		$ 0.01		$ 0.01
Revolving credit facility \| Credit facilities
Debt Instrument [Line Items]
Line of credit			$ 175,000,000
4.25% Senior Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Redemption of principal amount				$ 15,000,000		$ 15,000,000		$ 15,000,000
Interest rate	4.25%			4.25%		4.25%		4.25%		4.25%
Debt instrument, repurchases discount				$ 4,900,000		$ 4,900,000		$ 4,900,000
Gain on extinguishment of debt, net				4,700,000
Unamortized deferred costs written off				200,000
Long-term debt				$ 985,010,000		$ 985,010,000		$ 985,010,000		$ 1,000,000,000
4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Debt Instrument [Line Items]
Interest rate				4.25%		4.25%		4.25%
Aggregate principal amount	$ 143,800,000
Proceeds from convertible debt	$ 139,400,000
Long-term debt				$ 143,750,000		$ 143,750,000		$ 143,750,000		0
10.25% Senior Secured Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Interest rate	10.25%		10.25%
Aggregate principal amount			$ 875,000,000
Net proceeds			$ 863,000,000
10.25% Senior Secured Notes Due 2029 \| Senior Notes \| Any time prior to January 15, 2026
Debt Instrument [Line Items]
Redemption price (as a percentage)			110.25%
Redeemed percentage			40.00%
10.25% Senior Secured Notes Due 2029 \| Senior Notes \| Any time prior to January 15, 2026
Debt Instrument [Line Items]
Redemption price (as a percentage)			103.00%
Redeemed percentage			10.00%
10.25% Senior Secured Notes Due 2029 \| Senior Notes \| Any time prior to January 15, 2026
Debt Instrument [Line Items]
Redemption price (as a percentage)			100.00%
Basis spread			0.50%
4.25% Convertible Senior Notes \| Convertible Debt
Debt Instrument [Line Items]
Interest rate	4.25%
Debt instrument, conversion rate	0.0785083
Debt instrument, convertible, conversion price \| $ / shares	$ 12.74
Percentage of aggregate principal amount	100.00%
4.25% Convertible Senior Notes \| Convertible Debt \| Debt Conversion Terms One
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130.00%
Threshold trading days \| d	20
Threshold consecutive trading days \| d	30
Redemption price (as a percentage)	100.00%
4.25% Convertible Senior Notes \| Convertible Debt \| Debt Conversion Terms Three
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
4.25% Convertible Senior Notes \| Convertible Debt \| Minimum
Debt Instrument [Line Items]
Percentage of aggregate principal amount	25.00%
4.25% Convertible Senior Notes \| Convertible Debt \| Minimum \| Debt Conversion Terms Two
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price \| $ / shares	$ 10.19
4.25% Convertible Senior Notes \| Convertible Debt \| Maximum \| Debt Conversion Terms Two
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price \| $ / shares	$ 130.00
Term Loan A Facility \| Secured debt
Debt Instrument [Line Items]
Long-term debt			$ 425,000,000	416,875,000		$ 416,875,000		$ 416,875,000		$ 607,500,000
Repayments of secured debt			165,600,000	$ 8,100,000	$ 16,900,000
Term Loan A Facility Maturity on April 9, 2028 \| Secured debt
Debt Instrument [Line Items]
Long-term debt			325,000,000
Term Loan A Facility Maturity on February 8, 2026 \| Secured debt
Debt Instrument [Line Items]
Long-term debt			$ 100,000,000
4.75% Senior Notes due August 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate		4.75%		4.75%		4.75%		4.75%		4.75%
Unamortized deferred costs written off		$ 3,100,000
Redemption price (as a percentage)		100.00%
Long-term debt				$ 0		$ 0		$ 0		$ 774,729,000

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 02, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-35106
Entity Registrant Name	AMC Networks Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-5403694
Entity Address, Address Line One	11 Penn Plaza,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	324-8500
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	AMCX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001514991
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		32,613,713
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,484,408

Description of Business and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2024 segment network
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment	2
Number of national programming networks \| network	5

Long-term Debt (Summary of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 21, 2024	Apr. 22, 2024	Apr. 09, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 2,420,635				$ 2,382,229
Unamortized discount	(28,092)				(13,873)
Unamortized deferred financing costs	(8,687)				(6,607)
Long-term debt, net	2,383,856				2,361,749
Current portion of long-term debt	32,500				67,500
Noncurrent portion of long-term debt	$ 2,351,356				$ 2,294,249
Senior Notes \| 4.75% Senior Notes due August 2025
Debt Instrument [Line Items]
Interest rate	4.75%		4.75%		4.75%
Long-term debt	$ 0				$ 774,729
Senior Notes \| 10.25% Senior Secured Notes due January 2029
Debt Instrument [Line Items]
Interest rate	10.25%
Long-term debt	$ 875,000				$ 0
Senior Notes \| 4.25% Senior Notes due February 2029
Debt Instrument [Line Items]
Interest rate	4.25%	4.25%			4.25%
Long-term debt	$ 985,010				$ 1,000,000
Unamortized discount	$ (4,900)
Convertible Debt \| 4.25% Convertible Senior Notes due February 2029
Debt Instrument [Line Items]
Interest rate	4.25%
Long-term debt	$ 143,750				0
Secured debt \| Term Loan A Facility
Debt Instrument [Line Items]
Long-term debt	$ 416,875			$ 425,000	$ 607,500

Derivative Financial Instruments (Schedule of Other Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Foreign currency derivatives \| Miscellaneous, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 4,239	$ 4,908	$ (791)	$ 9,813

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Summary of Continuing Operations by Reportable Segment

The Company has presented the components that reconcile adjusted operating income to operating income, and other information as to the continuing operations of the Company's operating segments below.


(In thousands)	Three Months Ended June 30, 2024
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	322,576	$	49,604	$	—	$	372,180
Content licensing and other	66,515		2,968		(2,452)		67,031
Distribution and other	389,091		52,572		(2,452)		439,211
Advertising	149,200		37,523		—		186,723
Consolidated revenues, net	$	538,291	$	90,095	$	(2,452)	$	625,934
Operating income (loss)	$	102,735	$	(43,795)	$	(48,152)	$	10,788
Share-based compensation expenses	2,748		905		4,804		8,457
Depreciation and amortization	10,800		4,151		11,542		26,493
Impairment and other charges	28,815		68,004		—		96,819
Restructuring and other related charges	2,931		—		—		2,931
Cloud computing amortization	3,283		—		—		3,283
Majority-owned equity investees AOI	4,036		—		—		4,036
Adjusted operating income (loss)	$	155,348	$	29,265	$	(31,806)	$	152,807


(In thousands)	Three Months Ended June 30, 2023
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	333,754	$	57,280	$	—	$	391,034
Content licensing and other	80,914		21,658		(2,495)		100,077
Distribution and other	414,668		78,938		(2,495)		491,111
Advertising	167,151		20,366		—		187,517
Consolidated revenues, net	$	581,819	$	99,304	$	(2,495)	$	678,628
Operating income (loss)	$	162,530	$	(11,705)	$	(45,124)	$	105,701
Share-based compensation expenses	2,192		846		4,610		7,648
Depreciation and amortization	11,663		4,902		9,180		25,745
Impairment and other charges	—		24,882		—		24,882
Restructuring and other related charges	3,905		261		1,875		6,041
Cloud computing amortization	5		—		2,244		2,249
Majority-owned equity investees AOI	4,511		—		—		4,511
Adjusted operating income (loss)	$	184,806	$	19,186	$	(27,215)	$	176,777


(In thousands)	Six Months Ended June 30, 2024
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	645,134	$	100,453	$	—	$	745,587
Content licensing and other	128,329		6,200		(5,822)		128,707
Distribution and other	773,463		106,653		(5,822)		874,294
Advertising	289,054		59,047		—		348,101
Consolidated revenues, net	$	1,062,517	$	165,700	$	(5,822)	$	1,222,395
Operating income (loss)	$	244,752	$	(35,186)	$	(88,600)	$	120,966
Share-based compensation expenses	5,978		1,671		6,883		14,532
Depreciation and amortization	20,827		8,176		23,316		52,319
Impairment and other charges	28,815		68,004		—		96,819
Restructuring and other related charges	2,931		—		—		2,931
Cloud computing amortization	6,831		—		—		6,831
Majority-owned equity investees AOI	7,533		—		—		7,533
Adjusted operating income (loss)	$	317,667	$	42,665	$	(58,401)	$	301,931


(In thousands)	Six Months Ended June 30, 2023
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	681,284	$	113,970	$	—	$	795,254
Content licensing and other	184,177		54,518		(4,974)		233,721
Distribution and other	865,461		168,488		(4,974)		1,028,975
Advertising	328,212		38,888		—		367,100
Consolidated revenues, net	$	1,193,673	$	207,376	$	(4,974)	$	1,396,075
Operating income (loss)	$	362,018	$	2,437	$	(85,450)	$	279,005
Share-based compensation expenses	6,639		1,685		4,969		13,293
Depreciation and amortization	23,517		9,673		18,430		51,620
Impairment and other charges	—		24,882		—		24,882
Restructuring and other related charges	4,723		1,646		5,605		11,974
Cloud computing amortization	10		—		4,469		4,479
Majority-owned equity investees AOI	7,287		—		—		7,287
Adjusted operating income (loss)	$	404,194	$	40,323	$	(51,977)	$	392,540

Schedule of Summary of Inter-Segment Eliminations

Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International segments.


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Inter-segment revenues
Domestic Operations	$	(1,443)	$	(2,412)	$	(3,288)	$	(4,626)
International	(1,009)		(83)		(2,534)		(348)
	$	(2,452)	$	(2,495)	$	(5,822)	$	(4,974)

Schedule of Revenue by Geographic Area

The table below summarizes revenues based on customer location:


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenues
United States	$	487,414	$	551,637	$	971,507	$	1,157,865
Europe	102,875		83,718		180,126		157,485
Other	35,645		43,273		70,762		80,725
	$	625,934	$	678,628	$	1,222,395	$	1,396,075

Schedule of Disclosure on Geographic Areas, Long-Lived Assets

The table below summarizes property and equipment based on asset location:


(In thousands)	June 30, 2024		December 31, 2023
Property and equipment, net
United States	$	129,694	$	146,314
Europe	10,868		11,850
Other	1,241		1,073
	$	141,803	$	159,237

Commitments and Contingencies (Details) $ in Millions			6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 12, 2024 USD ($)	Nov. 14, 2022 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jan. 26, 2023 claim	Jan. 20, 2021 defendant	Jul. 22, 2020 legal_matter
Loss Contingencies [Line Items]
Increase in contractual obligations not reflected in the balance sheet			$ (3.2)
Contractual obligation				$ 870.4
California Action
Loss Contingencies [Line Items]
Number of legal matters \| legal_matter							7
Number of defendants eliminated \| defendant						8
Number of remaining claims \| claim					2
Damages awarded, value	$ 7.8
MFN Litigation
Loss Contingencies [Line Items]
Claim for damages		$ 200.0

Program Rights

6 Months Ended

Jun. 30, 2024

Film, Disclosures [Abstract]

Program Rights

Total capitalized produced and licensed content by predominant monetization strategy is as follows:


	June 30, 2024
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	97,148	$	624,518	$	721,666
In-production and in-development	—		252,746		252,746
Total owned original program rights, net	$	97,148	$	877,264	$	974,412

Licensed program rights, net:
Licensed film and acquired series	$	532	$	594,298	$	594,830
Licensed originals	—		143,918		143,918
Advances and other production costs	—		84,907		84,907
Total licensed program rights, net	532		823,123		823,655
Program rights, net	$	97,680	$	1,700,387	$	1,798,067

Current portion of program rights, net					$	7,089
Program rights, net (long-term)					1,790,978
					$	1,798,067


	December 31, 2023
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	139,363	$	532,839	$	672,202
In-production and in-development	—		284,455		284,455
Total owned original program rights, net	$	139,363	$	817,294	$	956,657

Licensed program rights, net:
Licensed film and acquired series	$	973	$	599,607	$	600,580
Licensed originals	1,555		169,489		171,044
Advances and other production costs	—		82,252		82,252
Total licensed program rights, net	2,528		851,348		853,876
Program rights, net	$	141,891	$	1,668,642	$	1,810,533

Current portion of program rights, net					$	7,880
Program rights, net (long-term)					1,802,653
					$	1,810,533

Amortization, including write-offs, of owned and licensed program rights, included in Technical and operating expenses in the condensed consolidated statements of income (loss), is as follows:


	Three Months Ended June 30, 2024						Six Months Ended June 30, 2024
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	17,313	$	78,564	$	95,877	$	42,165	$	138,670	$	180,835
Licensed program rights	201		116,086		116,287		1,832		232,049		233,881
Program rights amortization	$	17,514	$	194,650	$	212,164	$	43,997	$	370,719	$	414,716


	Three Months Ended June 30, 2023						Six Months Ended June 30, 2023
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	59,528	$	56,811	$	116,339	$	80,831	$	101,747	$	182,578
Licensed program rights	471		126,503		126,974		2,135		245,673		247,808
Program rights amortization	$	59,999	$	183,314	$	243,313	$	82,966	$	347,420	$	430,386

For programming rights predominantly monetized individually or as a group, the Company periodically reviews the programming usefulness of licensed and owned original program rights based on several factors, including expected future revenue generation from airings on the Company's networks and streaming services and other exploitation opportunities, ratings, type and quality of program material, standards and practices, and fitness for exhibition through various forms of distribution. If events or changes in circumstances indicate that the fair value of a film predominantly monetized individually or a film group is less than its unamortized cost, the Company will write off the excess to technical and operating expenses in the condensed consolidated statements of income (loss). Program rights with no future programming usefulness are substantively abandoned resulting in the write-off of remaining unamortized cost. There were no significant program rights write-offs included in technical and operating expenses for the three and six months ended June 30, 2024 or 2023.

In the normal course of business, the Company may qualify for tax incentives through eligible investments in productions. Receivables related to tax incentives earned on production spend as of June 30, 2024 consisted of $196.1 million recorded in Prepaid expenses and other current assets and $38.6 million recorded in Other assets. Receivables related to tax incentives earned on production spend as of December 31, 2023 consisted of $230.3 million recorded in Prepaid expenses and other current assets and $49.9 million recorded in Other assets.

Segment Information (Summary of Continuing Operations by Reportable Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues, net	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
Operating income (loss)	10,788	105,701	120,966	279,005
Share-based compensation expenses	8,457	7,648	14,532	13,293
Depreciation and amortization	26,493	25,745	52,319	51,620
Impairment and other charges	96,819	24,882	96,819	24,882
Restructuring and other related charges	2,931	6,041	2,931	11,974
Cloud computing amortization	3,283	2,249	6,831	4,479
Majority-owned equity investees AOI	4,036	4,511	7,533	7,287
Adjusted operating income (loss)	152,807	176,777	301,931	392,540
Operating Segments \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	538,291	581,819	1,062,517	1,193,673
Operating income (loss)	102,735	162,530	244,752	362,018
Share-based compensation expenses	2,748	2,192	5,978	6,639
Depreciation and amortization	10,800	11,663	20,827	23,517
Impairment and other charges	28,815	0	28,815	0
Restructuring and other related charges	2,931	3,905	2,931	4,723
Cloud computing amortization	3,283	5	6,831	10
Majority-owned equity investees AOI	4,036	4,511	7,533	7,287
Adjusted operating income (loss)	155,348	184,806	317,667	404,194
Operating Segments \| International
Segment Reporting Information [Line Items]
Revenues, net	90,095	99,304	165,700	207,376
Operating income (loss)	(43,795)	(11,705)	(35,186)	2,437
Share-based compensation expenses	905	846	1,671	1,685
Depreciation and amortization	4,151	4,902	8,176	9,673
Impairment and other charges	68,004	24,882	68,004	24,882
Restructuring and other related charges	0	261	0	1,646
Cloud computing amortization	0	0	0	0
Majority-owned equity investees AOI	0	0	0	0
Adjusted operating income (loss)	29,265	19,186	42,665	40,323
Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	(2,452)	(2,495)	(5,822)	(4,974)
Operating income (loss)	(48,152)	(45,124)	(88,600)	(85,450)
Share-based compensation expenses	4,804	4,610	6,883	4,969
Depreciation and amortization	11,542	9,180	23,316	18,430
Impairment and other charges	0	0	0	0
Restructuring and other related charges	0	1,875	0	5,605
Cloud computing amortization	0	2,244	0	4,469
Majority-owned equity investees AOI	0	0	0	0
Adjusted operating income (loss)	(31,806)	(27,215)	(58,401)	(51,977)
Corporate / Inter-segment Eliminations \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	(1,443)	(2,412)	(3,288)	(4,626)
Corporate / Inter-segment Eliminations \| International
Segment Reporting Information [Line Items]
Revenues, net	(1,009)	(83)	(2,534)	(348)
Subscription
Segment Reporting Information [Line Items]
Revenues, net	372,180	391,034	745,587	795,254
Subscription \| Operating Segments \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	322,576	333,754	645,134	681,284
Subscription \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenues, net	49,604	57,280	100,453	113,970
Subscription \| Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	0	0	0	0
Content licensing and other
Segment Reporting Information [Line Items]
Revenues, net	67,031	100,077	128,707	233,721
Content licensing and other \| Operating Segments \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	66,515	80,914	128,329	184,177
Content licensing and other \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenues, net	2,968	21,658	6,200	54,518
Content licensing and other \| Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	(2,452)	(2,495)	(5,822)	(4,974)
Distribution and other
Segment Reporting Information [Line Items]
Revenues, net	439,211	491,111	874,294	1,028,975
Distribution and other \| Operating Segments \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	389,091	414,668	773,463	865,461
Distribution and other \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenues, net	52,572	78,938	106,653	168,488
Distribution and other \| Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	(2,452)	(2,495)	(5,822)	(4,974)
Advertising
Segment Reporting Information [Line Items]
Revenues, net	186,723	187,517	348,101	367,100
Advertising \| Operating Segments \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	149,200	167,151	289,054	328,212
Advertising \| Operating Segments \| International
Segment Reporting Information [Line Items]
Revenues, net	37,523	20,366	59,047	38,888
Advertising \| Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	$ 0	$ 0	$ 0	$ 0

Accrued Liabilities

6 Months Ended

Jun. 30, 2024

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following:


(In thousands)	June 30, 2024		December 31, 2023
Employee related costs	$	64,471	$	93,866
Participations and residuals	153,145		164,375
Interest	36,681		31,749

Other accrued expenses	64,815		95,848
Total accrued liabilities	$	319,112	$	385,838

Revenue Recognition

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Transaction Price Allocated to Future Performance Obligations

As of June 30, 2024, other than contracts for which the Company has applied the practical expedients, the aggregate amount of transaction price allocated to future performance obligations was not material to our consolidated revenues.

Contract Balances from Contracts with Customers

The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers.


(In thousands)	June 30, 2024		December 31, 2023
Balances from contracts with customers:
Accounts receivable (including long-term receivables within Other assets)	$	722,715	$	750,390
Contract assets, short-term (included in Prepaid expenses and other current assets)	—		2,364

Contract liabilities, short-term (Deferred revenue)	57,768		65,736

Revenue recognized for the six months ended June 30, 2024 and 2023 relating to the contract liabilities at December 31, 2023 and 2022 was $38.8 million and $97.4 million, respectively.

For the three and six months ended June 30, 2024, we recognized revenues of $13.4 million for a one-time retroactive adjustment reported and paid by a third party, for which our performance obligation was satisfied in a prior period.

In October 2023, the Company entered into an agreement enabling it to sell certain customer receivables to a financial institution on a recurring basis for cash. The transferred receivables will be fully guaranteed by a bankruptcy-remote entity and the financial institution that purchases the receivables will have no recourse to the Company's other assets in the event of non-payment by the customers. The Company can sell an indefinite amount of customer receivables under the agreement on a revolving basis, but the outstanding balance of unpaid customer receivables to the financial institution cannot exceed the initial program limit of $125.0 million at any given time. As of June 30, 2024, the Company had not yet sold any customer receivables under this agreement.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Equity Plans	6 Months Ended
Equity Plans	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Plans	Equity Plans During the second quarter of 2024, AMC Networks granted 104,546 restricted stock units ("RSUs") under the 2011 Stock Plan for Non-Employee Directors to non-employee directors that vested on the date of grant. During the first quarter of 2024, AMC Networks granted 2,025,265 RSUs to certain executive officers and employees under the AMC Networks Inc. Amended and Restated 2016 Employee Stock Plan, which vest ratably over a three-year period. During the three months ended June 30, 2024, 101,185 RSUs of AMC Networks Class A Common Stock previously issued to an employee of the Company vested. On the vesting date, 46,334 RSUs were surrendered to AMC Networks to cover the required statutory tax withholding obligations and 54,851 shares of AMC Networks Class A Common Stock were issued. During the six months ended June 30, 2024, 914,296 RSUs of AMC Networks Class A Common Stock previously issued to employees of the Company vested. On the vesting date, 377,717 RSUs were surrendered to AMC Networks to cover the required statutory tax withholding obligations and 536,579 shares of AMC Networks Class A Common Stock were issued. Units are surrendered to satisfy the employees' statutory minimum tax withholding obligations for the applicable income and other employment tax. The units surrendered during the six months ended June 30, 2024 had an aggregate value of $4.6 million, which has been reflected as a financing activity in the condensed consolidated statement of cash flows for the six months ended June 30, 2024. The Company recorded share-based compensation expenses of $8.5 million and $14.5 million for the three and six months ended June 30, 2024, respectively, and $7.6 million and $13.5 million (including $0.2 million recorded as part of Restructuring and other related charges) for the three and six months ended June 30, 2023, respectively. Share-based compensation expenses are recognized in the condensed consolidated statements of income (loss) as part of Selling, general and administrative expenses. As of June 30, 2024, there was $35.2 million of total unrecognized share-based compensation cost related to outstanding unvested share-based awards. The unrecognized compensation cost is expected to be recognized over a weighted average remaining period of approximately 2.3 years.

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge	$ 68,000		$ 68,004
Aggregate amortization expense for amortizable intangible assets	9,600	$ 10,500	18,200	$ 20,900
Impairment and other charges	96,819	24,882	96,819	$ 24,882
Long-lived asset impairment charges	29,200		29,200
International
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge		1,900	68,004
Accumulated impairment charges	253,500		253,500		$ 185,500
Impairment charge related to intangible assets		$ 23,000
Domestic Operations
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment charge			$ 0
Long-lived asset impairment charges	13,500
Impairment charge related to intangible assets	$ 15,700

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Redeemable Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2024

Noncontrolling Interest [Abstract]

Schedule of Redeemable Noncontrolling Interest

The following tables summarize activity related to redeemable noncontrolling interest for the three and six months ended June 30, 2024 and 2023:


(In thousands)	Three Months Ended June 30, 2024
March 31, 2024	$	197,370
Net earnings (loss)	(10,953)
Distributions	(9,159)
Adjustment to redemption fair value	2,807

June 30, 2024	$	180,065


(In thousands)	Three Months Ended June 30, 2023
March 31, 2023	$	249,919
Net earnings	6,800
Distributions	(15,233)


June 30, 2023	$	241,486


(In thousands)	Six Months Ended June 30, 2024
December 31, 2023	$	185,297
Net earnings (loss)	(433)
Distributions	(10,327)
Adjustment to redemption fair value	5,528

June 30, 2024	$	180,065


(In thousands)	Six Months Ended June 30, 2023
December 31, 2022	$	253,669
Net earnings	13,070
Distributions	(25,253)


June 30, 2023	$	241,486

Fair Value Measurement (Carrying Values and Fair Values of the Company's Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 21, 2024	Apr. 22, 2024	Dec. 31, 2023
10.25% Senior Secured Notes due January 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	10.25%
4.75% Senior Notes due August 2025 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	4.75%		4.75%	4.75%
4.25% Senior Notes Due 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	4.25%	4.25%		4.25%
4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	4.25%
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,383,856			$ 2,361,749
Carrying Amount \| Term Loan A Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	409,541			602,551
Carrying Amount \| 10.25% Senior Secured Notes due January 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	860,462
Carrying Amount \| 4.75% Senior Notes due August 2025 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt				771,013
Carrying Amount \| 4.25% Senior Notes Due 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	974,416			988,185
Carrying Amount \| 4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	139,437
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	2,061,997			2,104,231
Estimated Fair Value \| Term Loan A Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	408,538			577,884
Estimated Fair Value \| 10.25% Senior Secured Notes due January 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	857,500
Estimated Fair Value \| 4.75% Senior Notes due August 2025 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt				745,677
Estimated Fair Value \| 4.25% Senior Notes Due 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	659,957			$ 780,670
Estimated Fair Value \| 4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 136,002

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss) including noncontrolling interests	$ (32,289)	$ 62,098	$ 25,094	$ 173,391
Other comprehensive income (loss):
Foreign currency translation adjustment	(2,269)	9,826	(15,566)	21,644
Comprehensive income (loss)	(34,558)	71,924	9,528	195,035
Comprehensive (income) loss attributable to noncontrolling interests	3,007	7,509	(8,248)	(664)
Comprehensive income (loss) attributable to AMC Networks' stockholders	$ (31,551)	$ 79,433	$ 1,280	$ 194,371

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Program Rights (Tables)

6 Months Ended

Jun. 30, 2024

Film, Disclosures [Abstract]

Schedule of Program Rights by Predominant Monetization Strategy

Total capitalized produced and licensed content by predominant monetization strategy is as follows:


	June 30, 2024
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	97,148	$	624,518	$	721,666
In-production and in-development	—		252,746		252,746
Total owned original program rights, net	$	97,148	$	877,264	$	974,412

Licensed program rights, net:
Licensed film and acquired series	$	532	$	594,298	$	594,830
Licensed originals	—		143,918		143,918
Advances and other production costs	—		84,907		84,907
Total licensed program rights, net	532		823,123		823,655
Program rights, net	$	97,680	$	1,700,387	$	1,798,067

Current portion of program rights, net					$	7,089
Program rights, net (long-term)					1,790,978
					$	1,798,067


	December 31, 2023
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total
Owned original program rights, net:
Completed	$	139,363	$	532,839	$	672,202
In-production and in-development	—		284,455		284,455
Total owned original program rights, net	$	139,363	$	817,294	$	956,657

Licensed program rights, net:
Licensed film and acquired series	$	973	$	599,607	$	600,580
Licensed originals	1,555		169,489		171,044
Advances and other production costs	—		82,252		82,252
Total licensed program rights, net	2,528		851,348		853,876
Program rights, net	$	141,891	$	1,668,642	$	1,810,533

Current portion of program rights, net					$	7,880
Program rights, net (long-term)					1,802,653
					$	1,810,533

Schedule of Amortization of Owned and Licensed Program Rights

Amortization, including write-offs, of owned and licensed program rights, included in Technical and operating expenses in the condensed consolidated statements of income (loss), is as follows:


	Three Months Ended June 30, 2024						Six Months Ended June 30, 2024
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	17,313	$	78,564	$	95,877	$	42,165	$	138,670	$	180,835
Licensed program rights	201		116,086		116,287		1,832		232,049		233,881
Program rights amortization	$	17,514	$	194,650	$	212,164	$	43,997	$	370,719	$	414,716


	Three Months Ended June 30, 2023						Six Months Ended June 30, 2023
(In thousands)	Predominantly Monetized Individually		Predominantly Monetized as a Group		Total		Predominantly Monetized Individually		Predominantly Monetized as a Group		Total

Owned original program rights	$	59,528	$	56,811	$	116,339	$	80,831	$	101,747	$	182,578
Licensed program rights	471		126,503		126,974		2,135		245,673		247,808
Program rights amortization	$	59,999	$	183,314	$	243,313	$	82,966	$	347,420	$	430,386

Cash Flows (Tables)

6 Months Ended

Jun. 30, 2024

Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]

Schedule of Summary of Non-Cash Activities and Other Supplemental Data

The following table details the Company's non-cash investing and financing activities and other supplemental data:


(In thousands)	Six Months Ended June 30,
	2024		2023
Non-Cash Investing and Financing Activities:


Operating lease additions	$	2,974	$	3,023
Capital expenditures incurred but not yet paid	1,911		1,402

Supplemental Data:
Cash interest paid	67,731		71,993
Income tax (refunds) payments, net	(4,738)		31,438

Restructuring and Other Related Charges (Restructuring and Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Total restructuring and other related charges	$ 2,931	$ 6,041	$ 2,931	$ 11,974
Operating Segments \| Domestic Operations
Restructuring Cost and Reserve [Line Items]
Total restructuring and other related charges	2,931	3,905	2,931	4,723
Operating Segments \| International
Restructuring Cost and Reserve [Line Items]
Total restructuring and other related charges	0	261	0	1,646
Corporate / Inter-segment eliminations
Restructuring Cost and Reserve [Line Items]
Total restructuring and other related charges	$ 0	$ 1,875	$ 0	$ 5,605

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Narrative) (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			2
Revenues, net	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
Customer One \| Revenue Benchmark \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	15.00%	13.00%	15.00%	13.00%
SVOD Services
Segment Reporting Information [Line Items]
Revenues, net	$ 150,200	$ 137,400	$ 295,300	$ 278,300

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Condensed Consolidated Statements of Cash Flows (Parenthetical)	Jun. 30, 2024	Jun. 21, 2024	Apr. 22, 2024	Dec. 31, 2023
10.25% Senior Secured Notes due January 2029 \| Senior Notes
Interest rate	10.25%
4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Interest rate	4.25%
4.75% Senior Notes due August 2025 \| Senior Notes
Interest rate	4.75%		4.75%	4.75%
4.25% Senior Notes Due 2029 \| Senior Notes
Interest rate	4.25%	4.25%		4.25%

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Goodwill [Roll Forward]
Beginning balance			$ 626,496
Impairment charge	$ (68,000)		(68,004)
Foreign currency translation			(4,717)
Ending balance	553,775		553,775
Domestic Operations
Goodwill [Roll Forward]
Beginning balance			348,732
Impairment charge			0
Foreign currency translation			0
Ending balance	348,732		348,732
International
Goodwill [Roll Forward]
Beginning balance			277,764
Impairment charge		$ (1,900)	(68,004)
Foreign currency translation			(4,717)
Ending balance	$ 205,043		$ 205,043

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

The following table summarizes the leases included in the condensed consolidated balance sheets as follows:


(In thousands)	Balance Sheet Location	June 30, 2024		December 31, 2023
Assets
Operating	Operating lease right-of-use assets	$	63,658	$	71,163
Finance	Property and equipment, net	9,335		9,884
Total lease assets		$	72,993	$	81,047
Liabilities
Current:
Operating	Current portion of lease obligations	$	26,841	$	28,971
Finance	Current portion of lease obligations	4,620		4,688
		$	31,461	$	33,659
Noncurrent:
Operating	Lease obligations	$	62,837	$	72,797
Finance	Lease obligations	12,146		14,443
		$	74,983	$	87,240

Total lease liabilities		$	106,444	$	120,899

Leases

The following table summarizes the leases included in the condensed consolidated balance sheets as follows:


(In thousands)	Balance Sheet Location	June 30, 2024		December 31, 2023
Assets
Operating	Operating lease right-of-use assets	$	63,658	$	71,163
Finance	Property and equipment, net	9,335		9,884
Total lease assets		$	72,993	$	81,047
Liabilities
Current:
Operating	Current portion of lease obligations	$	26,841	$	28,971
Finance	Current portion of lease obligations	4,620		4,688
		$	31,461	$	33,659
Noncurrent:
Operating	Lease obligations	$	62,837	$	72,797
Finance	Lease obligations	12,146		14,443
		$	74,983	$	87,240

Total lease liabilities		$	106,444	$	120,899

Condensed Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues, net	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
Operating expenses:
Technical and operating (excluding depreciation and amortization)	280,727	321,961	552,303	648,690
Selling, general and administrative	208,176	194,298	397,057	379,904
Depreciation and amortization	26,493	25,745	52,319	51,620
Impairment and other charges	96,819	24,882	96,819	24,882
Restructuring and other related charges	2,931	6,041	2,931	11,974
Total operating expenses	615,146	572,927	1,101,429	1,117,070
Operating income	10,788	105,701	120,966	279,005
Other income (expense):
Interest expense	(43,216)	(38,930)	(76,057)	(76,547)
Interest income	9,292	7,342	18,177	15,258
Gain on extinguishment of debt, net	247	0	247	0
Miscellaneous, net	1,493	10,140	(3,697)	14,729
Total other expense	(32,184)	(21,448)	(61,330)	(46,560)
Income (loss) from operations before income taxes	(21,396)	84,253	59,636	232,445
Income tax expense	(10,893)	(22,155)	(34,542)	(59,054)
Net income (loss) including noncontrolling interests	(32,289)	62,098	25,094	173,391
Net (income) loss attributable to noncontrolling interests	3,055	8,141	(8,525)	458
Net income (loss) attributable to AMC Networks' stockholders	$ (29,234)	$ 70,239	$ 16,569	$ 173,849
Net income (loss) per share attributable to AMC Networks' stockholders:
Basic (in dollars per share)	$ (0.66)	$ 1.60	$ 0.37	$ 3.98
Diluted (in dollars per share)	$ (0.66)	$ 1.60	$ 0.37	$ 3.97
Weighted average common shares:
Basic (in shares)	44,466	43,842	44,267	43,702
Diluted (in shares)	44,466	43,900	45,443	43,835

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The following table summarizes the Company's long-term debt included in the condensed consolidated balance sheet as follows:


(In thousands)	June 30, 2024		December 31, 2023
Senior Secured Credit Facility: (a)
Term Loan A Facility	$	416,875	$	607,500
Senior Notes:
4.75% Senior Notes due August 2025	—		774,729
10.25% Senior Secured Notes due January 2029	875,000		—
4.25% Senior Notes due February 2029	985,010		1,000,000
4.25% Convertible Senior Notes due February 2029	143,750		—
Total long-term debt	2,420,635		2,382,229
Unamortized discount	(28,092)		(13,873)
Unamortized deferred financing costs	(8,687)		(6,607)
Long-term debt, net	2,383,856		2,361,749
Current portion of long-term debt	32,500		67,500
Noncurrent portion of long-term debt	$	2,351,356	$	2,294,249

(a)The Company's Revolving Credit Facility (as defined below) remained undrawn at June 30, 2024. Total undrawn revolver commitments are available to be drawn for general corporate purposes of the Company.

Schedule of Redeemed Percentage

On or after January 15, 2026, AMC Networks may redeem the Secured Notes, at its option, in whole or in part, at any time and from time to time, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest thereon, to the applicable redemption date, if redeemed during the twelve month period beginning on January 15 of the years indicated below:


Year						Percentage
2026						105.125%
2027						102.563%
2028 and thereafter						100.000%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Paragraph 69B
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Investments	6 Months Ended
Investments	Jun. 30, 2024
Investments [Abstract]
Investments	Investments The Company holds several investments in and loans to non-consolidated entities which are included in Other assets in the condensed consolidated balance sheet. Equity Method Investments Equity method investments were $85.7 million and $83.1 million at June 30, 2024 and December 31, 2023, respectively. Non-marketable Equity Securities Investments in non-marketable equity securities were $42.6 million and $41.6 million at June 30, 2024 and December 31, 2023, respectively. No gains or losses were recorded on non-marketable equity securities for the three and six months ended June 30, 2024. During the three and six months ended June 30, 2023, the Company recognized impairment charges of $0.5 million and $1.7 million, respectively, on certain investments, which is included in Miscellaneous, net in the condensed consolidated statements of income (loss).

Long-term Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-term Debt

The following table summarizes the Company's long-term debt included in the condensed consolidated balance sheet as follows:


(In thousands)	June 30, 2024		December 31, 2023
Senior Secured Credit Facility: (a)
Term Loan A Facility	$	416,875	$	607,500
Senior Notes:
4.75% Senior Notes due August 2025	—		774,729
10.25% Senior Secured Notes due January 2029	875,000		—
4.25% Senior Notes due February 2029	985,010		1,000,000
4.25% Convertible Senior Notes due February 2029	143,750		—
Total long-term debt	2,420,635		2,382,229
Unamortized discount	(28,092)		(13,873)
Unamortized deferred financing costs	(8,687)		(6,607)
Long-term debt, net	2,383,856		2,361,749
Current portion of long-term debt	32,500		67,500
Noncurrent portion of long-term debt	$	2,351,356	$	2,294,249

4.25% Senior Notes due 2029

In June 2024, the Company repurchased $15.0 million of its outstanding 4.25% Senior Notes due 2029 through open market repurchases, at a discount of $4.9 million, and retired the repurchased notes. The Company recorded a $4.7 million gain which reflects the discount, net of $0.2 million to write-off a portion of the unamortized discount and deferred financing costs associated with the notes. The $4.7 million gain is included in Gain on extinguishment of debt, net within the condensed consolidated statements of income (loss).

4.25% Convertible Senior Notes due 2029

On June 21, 2024, the Company completed a private unregistered offering of $143.8 million aggregate principal amount of its Convertible Notes, which amount includes the full exercise of the initial purchasers’ option to purchase additional Convertible Notes. The Company received net proceeds of $139.4 million, after deducting initial purchasers' discounts. The Convertible Notes are guaranteed by each of the Company’s existing and future domestic subsidiaries that guarantee the Company’s credit facilities and the Company’s 4.25% Senior Notes due 2029 and 10.25% Senior Secured Notes due 2029 (the “Guarantors”), subject to certain exceptions, on a senior, unsecured basis.

The Convertible Notes were issued pursuant to an Indenture, dated as of June 21, 2024 (the “Convertible Notes Indenture”), among the Company, the Guarantors and U.S. Bank Trust Company, National Association, as trustee (“Trustee”).

The Convertible Notes bear interest at a rate of 4.25% per year, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2025. The Convertible Notes will mature on February 15, 2029, unless earlier redeemed, repurchased or converted.

Subject to the terms of the Convertible Notes Indenture, the Convertible Notes may be converted at an initial conversion rate of 78.5083 shares of Class A common stock, par value $0.01 per share, of the Company (“Class A Common Stock”) per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $12.74 per share of Class A Common Stock). Upon conversion of the Convertible Notes, the Company will pay or deliver, as the case may be, cash, shares of Class A Common Stock or a combination of cash and shares of Class A Common Stock, at the Company’s election, as described in the Convertible Notes Indenture. Holders of the Convertible Notes may convert their Convertible Notes at their option at any time on or after November 15, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date. Holders of the Convertible Notes will also have the right to convert the Convertible Notes prior to November 15, 2028, but only upon the occurrence of specified events described in the Convertible Notes Indenture. The conversion rate is subject to antidilution adjustments if certain events occur.

Prior to August 20, 2027, the Convertible Notes will not be redeemable. On or after August 20, 2027, the Company may redeem for cash all or part of the Convertible Notes (subject to certain exceptions), at its option, if the last reported sale price of the Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any period of 30 consecutive trading days (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but not including, the redemption date. No sinking fund is provided for the Convertible Notes.

If certain corporate events (each defined in the Convertible Notes Indenture as a “Make-Whole Fundamental Change”) occur prior to the maturity date of the Convertible Notes, and a holder elects to convert its Convertible Notes in connection with such corporate event, the Company will, under certain circumstances, increase the conversion rate for the Convertible Notes so surrendered for conversion by a number of additional shares of Class A Common Stock as specified in the Convertible Notes Indenture. No adjustment to the conversion rate will be made if the price paid or deemed to be paid per share of Class A Common Stock in such corporate event is either less than $10.19 per share or exceeds $130.00 per share.

If a specified “Fundamental Change” (as defined in the Convertible Notes Indenture) occurs prior to the maturity date of the Convertible Notes, under certain circumstances each holder may require the Company to repurchase all or part of its Convertible Notes at a repurchase price equal to 100% of the principal amount, plus accrued and unpaid interest to, but not including, the repurchase date.

Under the Convertible Notes Indenture, the Convertible Notes may be accelerated upon the occurrence of certain events of default. In the case of an event of default with respect to the Convertible Notes arising from specified events of bankruptcy or insolvency of the Company or the Company’s Significant Subsidiaries (as defined in the Convertible Notes Indenture), 100% of the principal of and accrued and unpaid interest on the Convertible Notes will automatically become due and payable. If any other event of default with respect to the Convertible Notes under the Convertible Notes Indenture occurs or is continuing, the Trustee or holders of at least 25% in aggregate principal amount of the then outstanding Convertible Notes may declare the principal amount of and accrued and unpaid interest, if any, on the Convertible Notes to be immediately due and payable.

Amendment to Credit Agreement

On April 9, 2024, AMC Networks entered into Amendment No. 3 ("Amendment No. 3") to the Second Amended and Restated Credit Agreement, dated as of July 28, 2017 (as amended to date and by Amendment No. 3, the “Credit Agreement”), among AMC Networks and its subsidiary, AMC Network Entertainment LLC (“AMC Network Entertainment”), as the initial borrowers, certain of AMC Networks' subsidiaries, as restricted subsidiaries, Bank of America, N.A., as an L/C Issuer, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and an L/C Issuer.

In connection with Amendment No. 3, AMC Networks made a $165.6 million partial prepayment of the Term Loan A facility under the Credit Agreement (the “Term Loan A Facility”), bringing the total principal amount outstanding under the Term Loan A Facility to $425 million, and reduced the revolving credit facility under the Credit Agreement (the “Revolving Credit Facility”) to $175 million. In addition, pursuant to Amendment No. 3, the maturity date of $325 million principal amount of loans under the Term Loan A Facility as well as all of the commitments under the Revolving Credit Facility has been extended to April 9, 2028. The maturity date of the remaining $100 million principal amount of loans under the Term Loan A Facility continues to be February 8, 2026. Amendment No. 3 also includes certain other modifications to covenants and other provisions of the Credit Agreement. In connection with the $165.6 million partial prepayment of the Term Loan A Facility and the modification of the revolving loan commitments, the Company recorded a charge of $1.3 million to write-off a portion of

the unamortized discount and deferred financing costs associated with the Credit Agreement, which is included in Gain on extinguishment of debt, net within the condensed consolidated statements of income (loss).

In June 2024, the Company repaid $8.1 million of borrowings under the Term Loan A Facility in accordance with the terms of the amended agreement. The Company also repaid $16.9 million of borrowings under the Term Loan A Facility in March 2024 in accordance with the previous agreement.

10.25% Senior Secured Notes due 2029

On April 9, 2024, AMC Networks issued $875 million aggregate principal amount of 10.25% Senior Secured Notes due 2029 (the “Secured Notes”). AMC Networks received net proceeds of $863 million, after deducting initial purchasers' discounts. The Secured Notes are guaranteed by AMC Network Entertainment and AMC Networks' subsidiaries that guarantee the Credit Agreement.

The Secured Notes were issued pursuant to an Indenture, dated as of April 9, 2024 (the “Secured Notes Indenture”), among AMC Networks, the Guarantors and U.S. Bank Trust Company, National Association, as Trustee.

The Secured Notes accrue interest at a rate of 10.25% per annum and mature on January 15, 2029. Interest is payable semiannually on January 15 and July 15 of each year, commencing on July 15, 2024. The Secured Notes are AMC Networks’ general senior secured obligations, secured on a first-priority basis by substantially all of AMC Networks’ and the Guarantors’ assets and property, subject to certain liens permitted under the Secured Notes Indenture, and rank equally with all of AMC Networks’ existing and future senior indebtedness, senior in right of payment to AMC Networks’ future subordinated indebtedness and effectively senior to any of AMC Networks’ existing and future unsecured indebtedness or indebtedness that is secured by a lien ranking junior to the lien securing the Secured Notes, in each case, to the extent of the value of the collateral.


Year						Percentage
2026						105.125%
2027						102.563%
2028 and thereafter						100.000%

In addition to the optional redemption of the Secured Notes described above, at any time prior to January 15, 2026, AMC Networks may redeem up to 40% of the aggregate principal amount of the Secured Notes at a redemption price equal to 110.250% of the principal amount thereof, plus accrued and unpaid interest and additional interest, if any, using the net proceeds of certain equity offerings. At any time prior to January 15, 2026, AMC Networks may also redeem up to 10% of the aggregate principal amount of the Secured Notes during any twelve month period at a redemption price equal to 103.000% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon to, but excluding, the redemption date.

Finally, at any time prior to January 15, 2026, AMC Networks may redeem the Secured Notes, at its option in whole or in part, at any time, at a redemption price equal to 100% of the principal amount thereof to be redeemed plus the “Applicable Premium” calculated as described in the Secured Notes Indenture at the Treasury rate + 50 basis points, and accrued and unpaid interest thereon, if any, to, but excluding, the redemption date.

Tender Offer and Redemption of 4.75% Senior Notes due 2025

On April 22, 2024, AMC Networks completed a cash tender offer (the "Offer") to purchase any and all outstanding 4.75% Senior Notes due 2025 and redeemed all 4.75% Senior Notes due 2025 that remained outstanding after completion of the Offer at a price of 100.000% of their principal amount, plus accrued and unpaid interest to, but not including, the redemption date. In connection with the Offer and redemption, the Company recorded a charge of $3.1 million to write-off the remaining unamortized discount and deferred financing costs associated with the 4.75% Senior Notes due 2025, which is included in Gain on extinguishment of debt, net within the condensed consolidated statements of income (loss).

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Income per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income (loss) attributable to AMC Networks' stockholders used for basic net income (loss) per share	$	(29,234)	$	70,239	$	16,569	$	173,849
Add: Convertible Notes interest expense, net of tax	—		—		116		—
Net income (loss) attributable to AMC Networks' stockholders used for diluted net income (loss) per share	$	(29,234)	$	70,239	$	16,685	$	173,849

Basic weighted average common shares outstanding	44,466		43,842		44,267		43,702
Effect of dilution:
Restricted stock units	—		58		556		133
Convertible Notes	—		—		620		—
Diluted weighted average common shares outstanding	44,466		43,900		45,443		43,835

Net income (loss) per share attributable to AMC Networks' stockholders:
Basic	$	(0.66)	$	1.60	$	0.37	$	3.98
Diluted	$	(0.66)	$	1.60	$	0.37	$	3.97

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company and its related parties enter into transactions with each other in the ordinary course of business. Revenues, net from related parties amounted to $1.3 million and $1.3 million for the three months ended June 30, 2024 and 2023, respectively, and $2.6 million and $2.6 million for the six months ended June 30, 2024 and 2023, respectively. Amounts charged to the Company, included in Selling, general and administrative expenses, pursuant to transactions with its related parties amounted to $0.1 million and $3.3 million for the three months ended June 30, 2024 and 2023, respectively, and $0.5 million and $6.6 million for the six months ended June 30, 2024 and 2023, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Program Rights (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Film Disclosure [Line Items]
Program rights write-offs	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Prepaid expenses and other current assets
Film Disclosure [Line Items]
Income tax receivable, program rights			196.1		$ 230.3
Other noncurrent assets
Film Disclosure [Line Items]
Income tax receivable, program rights			$ 38.6		$ 49.9

Revenue Recognition (Contract with Customer, Asset and Liability) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable (including long-term receivables within Other assets)	$ 722,715	$ 750,390
Contract assets, short-term (included in Prepaid expenses and other current assets)	0	2,364
Contract liabilities, short-term (Deferred revenue)	$ 57,768	$ 65,736

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents for each of these hierarchy levels, the Company's financial assets and liabilities that are measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023:


(In thousands)	Level I		Level II		Level III		Total
At June 30, 2024:
Assets
Cash equivalents	$	183,675	$	—	$	—	$	183,675



Foreign currency derivatives	—		7,437		—		7,437

Liabilities

Foreign currency derivatives	—		2,145		—		2,145


At December 31, 2023:
Assets




Foreign currency derivatives	$	—	$	8,277	$	—	$	8,277

Liabilities

Foreign currency derivatives	—		2,295		—		2,295

Schedule of Carrying Values and Fair Values of the Company's Financial Instruments

The carrying values and estimated fair values of the Company's financial instruments, excluding those that are carried at fair value in the condensed consolidated balance sheets, are summarized as follows:


(In thousands)	June 30, 2024
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term Loan A Facility	$	409,541	$	408,538
10.25% Senior Secured Notes due 2029	860,462		857,500
4.25% Senior Notes due 2029	974,416		659,957
4.25% Convertible Senior Notes due 2029	139,437		136,002
	$	2,383,856	$	2,061,997


(In thousands)	December 31, 2023
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term Loan A Facility	$	602,551	$	577,884

4.75% Senior Notes due 2025	771,013		745,677
4.25% Senior Notes due 2029	988,185		780,670

	$	2,361,749	$	2,104,231

Program Rights (Amortization of Owned and Licensed Program Rights) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Owned original program rights
Predominantly Monetized Individually	$ 17,313	$ 59,528	$ 42,165	$ 80,831
Predominantly Monetized as a Group	78,564	56,811	138,670	101,747
Total	95,877	116,339	180,835	182,578
Licensed program rights
Predominantly Monetized Individually	201	471	1,832	2,135
Predominantly Monetized as a Group	116,086	126,503	232,049	245,673
Total	116,287	126,974	233,881	247,808
Predominantly Monetized Individually	17,514	59,999	43,997	82,966
Predominantly Monetized as a Group	194,650	183,314	370,719	347,420
Total	$ 212,164	$ 243,313	$ 414,716	$ 430,386

Cash Flows

6 Months Ended

Jun. 30, 2024

Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]

Cash Flows

The following table details the Company's non-cash investing and financing activities and other supplemental data:


(In thousands)	Six Months Ended June 30,
	2024		2023
Non-Cash Investing and Financing Activities:


Operating lease additions	$	2,974	$	3,023
Capital expenditures incurred but not yet paid	1,911		1,402

Supplemental Data:
Cash interest paid	67,731		71,993
Income tax (refunds) payments, net	(4,738)		31,438

Restructuring and Other Related Charges (Summary of Accrued Restructuring and Other Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Beginning Balance			$ 13,734
Charges	$ 2,931	$ 6,041	2,931	$ 11,974
Cash payments			(8,103)
Non-cash adjustments			(2,199)
Other			(1,004)
Ending Balance	5,359		5,359
Severance and Employee-Related Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			8,726
Charges			1,317
Cash payments			(5,880)
Non-cash adjustments			0
Other			(902)
Ending Balance	3,261		3,261
Content Impairments and Other Exit Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			5,008
Charges			1,614
Cash payments			(2,223)
Non-cash adjustments			(2,199)
Other			(102)
Ending Balance	$ 2,098		$ 2,098

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Contract with Customer, Asset and Liability

The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers.


(In thousands)	June 30, 2024		December 31, 2023
Balances from contracts with customers:
Accounts receivable (including long-term receivables within Other assets)	$	722,715	$	750,390
Contract assets, short-term (included in Prepaid expenses and other current assets)	—		2,364

Contract liabilities, short-term (Deferred revenue)	57,768		65,736

Fair Value Measurement (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash equivalents	$ 183,675
Foreign currency derivatives
Assets
Foreign currency derivatives	7,437	$ 8,277
Liabilities
Foreign currency derivatives	2,145	2,295
Level I
Assets
Cash equivalents	183,675
Level I \| Foreign currency derivatives
Assets
Foreign currency derivatives	0	0
Liabilities
Foreign currency derivatives	0	0
Level II
Assets
Cash equivalents	0
Level II \| Foreign currency derivatives
Assets
Foreign currency derivatives	7,437	8,277
Liabilities
Foreign currency derivatives	2,145	2,295
Level III
Assets
Cash equivalents	0
Level III \| Foreign currency derivatives
Assets
Foreign currency derivatives	0	0
Liabilities
Foreign currency derivatives	$ 0	$ 0

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying amount of goodwill, by operating segment is as follows:


(In thousands)	Domestic Operations		International		Total
December 31, 2023	$	348,732	$	277,764	$	626,496
Impairment charge	—		(68,004)		(68,004)


Foreign currency translation	—		(4,717)		(4,717)
June 30, 2024	$	348,732	$	205,043	$	553,775

Schedule of Finite-Lived Intangible Assets

The following tables summarize information relating to the Company's identifiable intangible assets:


(In thousands)	June 30, 2024
	Gross		Accumulated Amortization		Net		Estimated Useful Lives
Amortizable intangible assets:
Affiliate and customer relationships	$	614,743	$	(446,764)	$	167,979	6 to 25 years
Advertiser relationships	46,282		(46,282)		—		11 years
Trade names and other amortizable intangible assets	90,357		(44,865)		45,492		3 to 20 years

Total amortizable intangible assets	751,382		(537,911)		213,471
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	771,282	$	(537,911)	$	233,371

(In thousands)	December 31, 2023
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:
Affiliate and customer relationships	$	618,778	$	(421,968)	$	196,810
Advertiser relationships	46,282		(42,806)		3,476
Trade names and other amortizable intangible assets	91,134		(42,762)		48,372

Total amortizable intangible assets	756,194		(507,536)		248,658
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	776,094	$	(507,536)	$	268,558

Schedule of Indefinite-Lived Intangible Assets

The following tables summarize information relating to the Company's identifiable intangible assets:


(In thousands)	June 30, 2024
	Gross		Accumulated Amortization		Net		Estimated Useful Lives
Amortizable intangible assets:
Affiliate and customer relationships	$	614,743	$	(446,764)	$	167,979	6 to 25 years
Advertiser relationships	46,282		(46,282)		—		11 years
Trade names and other amortizable intangible assets	90,357		(44,865)		45,492		3 to 20 years

Total amortizable intangible assets	751,382		(537,911)		213,471
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	771,282	$	(537,911)	$	233,371

(In thousands)	December 31, 2023
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:
Affiliate and customer relationships	$	618,778	$	(421,968)	$	196,810
Advertiser relationships	46,282		(42,806)		3,476
Trade names and other amortizable intangible assets	91,134		(42,762)		48,372

Total amortizable intangible assets	756,194		(507,536)		248,658
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	776,094	$	(507,536)	$	268,558

Schedule of Estimated Amortization Expense

estimated aggregate amortization expense for intangible assets subject to amortization for each of the following five years is:


(In thousands)
Years Ending December 31,
2024	$	33,864
2025	30,491
2026	29,556
2027	24,886
2028	22,759

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

The Company classifies its operations into two operating segments: Domestic Operations and International. These operating segments represent strategic business units that are managed separately.

In 2024, the Company updated the name of its previously titled "International and Other" operating segment to "International" due to the divestiture of the 25/7 Media business on December 29, 2023, which was the sole component of the operating segment that comprised “Other.” This update does not constitute a change in segment reporting, but rather an update in name only. Prior period segment information contained in this report includes the results of the 25/7 Media business through the date of divestiture.

The Company evaluates segment performance based on several factors, of which the primary financial measure is operating segment adjusted operating income ("AOI"). The Company defines AOI as operating income (loss) before depreciation and amortization, cloud computing amortization, share-based compensation expenses or benefit, impairment and other charges (including gains or losses on sales or dispositions of businesses), restructuring and other related charges and including the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees. The Company has presented the components that reconcile adjusted operating income to operating income, and other information as to the continuing operations of the Company's operating segments below.


(In thousands)	Three Months Ended June 30, 2024
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	322,576	$	49,604	$	—	$	372,180
Content licensing and other	66,515		2,968		(2,452)		67,031
Distribution and other	389,091		52,572		(2,452)		439,211
Advertising	149,200		37,523		—		186,723
Consolidated revenues, net	$	538,291	$	90,095	$	(2,452)	$	625,934
Operating income (loss)	$	102,735	$	(43,795)	$	(48,152)	$	10,788
Share-based compensation expenses	2,748		905		4,804		8,457
Depreciation and amortization	10,800		4,151		11,542		26,493
Impairment and other charges	28,815		68,004		—		96,819
Restructuring and other related charges	2,931		—		—		2,931
Cloud computing amortization	3,283		—		—		3,283
Majority-owned equity investees AOI	4,036		—		—		4,036
Adjusted operating income (loss)	$	155,348	$	29,265	$	(31,806)	$	152,807


(In thousands)	Three Months Ended June 30, 2023
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	333,754	$	57,280	$	—	$	391,034
Content licensing and other	80,914		21,658		(2,495)		100,077
Distribution and other	414,668		78,938		(2,495)		491,111
Advertising	167,151		20,366		—		187,517
Consolidated revenues, net	$	581,819	$	99,304	$	(2,495)	$	678,628
Operating income (loss)	$	162,530	$	(11,705)	$	(45,124)	$	105,701
Share-based compensation expenses	2,192		846		4,610		7,648
Depreciation and amortization	11,663		4,902		9,180		25,745
Impairment and other charges	—		24,882		—		24,882
Restructuring and other related charges	3,905		261		1,875		6,041
Cloud computing amortization	5		—		2,244		2,249
Majority-owned equity investees AOI	4,511		—		—		4,511
Adjusted operating income (loss)	$	184,806	$	19,186	$	(27,215)	$	176,777


(In thousands)	Six Months Ended June 30, 2024
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	645,134	$	100,453	$	—	$	745,587
Content licensing and other	128,329		6,200		(5,822)		128,707
Distribution and other	773,463		106,653		(5,822)		874,294
Advertising	289,054		59,047		—		348,101
Consolidated revenues, net	$	1,062,517	$	165,700	$	(5,822)	$	1,222,395
Operating income (loss)	$	244,752	$	(35,186)	$	(88,600)	$	120,966
Share-based compensation expenses	5,978		1,671		6,883		14,532
Depreciation and amortization	20,827		8,176		23,316		52,319
Impairment and other charges	28,815		68,004		—		96,819
Restructuring and other related charges	2,931		—		—		2,931
Cloud computing amortization	6,831		—		—		6,831
Majority-owned equity investees AOI	7,533		—		—		7,533
Adjusted operating income (loss)	$	317,667	$	42,665	$	(58,401)	$	301,931


(In thousands)	Six Months Ended June 30, 2023
	Domestic Operations		International		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Subscription	$	681,284	$	113,970	$	—	$	795,254
Content licensing and other	184,177		54,518		(4,974)		233,721
Distribution and other	865,461		168,488		(4,974)		1,028,975
Advertising	328,212		38,888		—		367,100
Consolidated revenues, net	$	1,193,673	$	207,376	$	(4,974)	$	1,396,075
Operating income (loss)	$	362,018	$	2,437	$	(85,450)	$	279,005
Share-based compensation expenses	6,639		1,685		4,969		13,293
Depreciation and amortization	23,517		9,673		18,430		51,620
Impairment and other charges	—		24,882		—		24,882
Restructuring and other related charges	4,723		1,646		5,605		11,974
Cloud computing amortization	10		—		4,469		4,479
Majority-owned equity investees AOI	7,287		—		—		7,287
Adjusted operating income (loss)	$	404,194	$	40,323	$	(51,977)	$	392,540

Subscription revenues in the Domestic Operations segment include revenues related to the Company's streaming services of $150.2 million and $137.4 million for the three months ended June 30, 2024 and 2023, respectively, and $295.3 million and $278.3 million for the six months ended June 30, 2024 and 2023, respectively.

Corporate overhead costs not allocated to the segments include costs such as executive salaries and benefits and costs of maintaining corporate headquarters, facilities and common support functions.

Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International segments.


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Inter-segment revenues
Domestic Operations	$	(1,443)	$	(2,412)	$	(3,288)	$	(4,626)
International	(1,009)		(83)		(2,534)		(348)
	$	(2,452)	$	(2,495)	$	(5,822)	$	(4,974)

The table below summarizes revenues based on customer location:


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenues
United States	$	487,414	$	551,637	$	971,507	$	1,157,865
Europe	102,875		83,718		180,126		157,485
Other	35,645		43,273		70,762		80,725
	$	625,934	$	678,628	$	1,222,395	$	1,396,075

One customer within the Domestic Operations segment accounted for approximately 15% of consolidated revenues, net for the three and six months ended June 30, 2024. For the three and six months ended June 30, 2023, one customer within the Domestic Operations segment accounted for approximately 13% of consolidated revenues.

The table below summarizes property and equipment based on asset location:


(In thousands)	June 30, 2024		December 31, 2023
Property and equipment, net
United States	$	129,694	$	146,314
Europe	10,868		11,850
Other	1,241		1,073
	$	141,803	$	159,237

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As of June 30, 2024, the Company's contractual obligations not reflected on the Company's condensed consolidated balance sheet decreased $3.2 million, as compared to December 31, 2023, to $870.4 million. The decrease was primarily driven by payments for program rights, partially offset by additional program rights commitments. Legal Matters On August 14, 2017, Robert Kirkman, Robert Kirkman, LLC, Glen Mazzara, 44 Strong Productions, Inc., David Alpert, Circle of Confusion Productions, LLC, New Circle of Confusion Productions, Inc., Gale Anne Hurd, and Valhalla Entertainment, Inc. f/k/a Valhalla Motion Pictures, Inc. (together, the "Plaintiffs") filed a complaint in California Superior Court in connection with Plaintiffs’ rendering of services as writers and producers of the television series entitled The Walking Dead, as well as Fear the Walking Dead and/or Talking Dead, and the agreements between the parties related thereto (the "Walking Dead Litigation"). The Plaintiffs asserted that the Company had been improperly underpaying the Plaintiffs under their contracts with the Company and they asserted claims for breach of contract, breach of the implied covenant of good faith and fair dealing, inducing breach of contract, and liability for violation of Cal. Bus. & Prof. Code § 17200. The Plaintiffs sought compensatory and punitive damages and restitution. On August 8, 2019, the judge in the Walking Dead Litigation ordered a trial to resolve certain issues of contract interpretation only. Following eight days of trial in February and March 2020, on July 22, 2020, the judge issued a Statement of Decision finding in the Company's favor on all seven matters of contract interpretation before the court in this first phase trial. On January 20, 2021, the Plaintiffs filed a second amended complaint, eliminating eight named defendants and their claims under Cal. Bus. & Prof. Code § 17200. On May 5, 2021, the Plaintiffs filed a third amended complaint, repleading in part their claims for alleged breach of the implied covenant of good faith and fair dealing, inducing breach of contract, and certain breach of contract claims. On June 2, 2021, the Company filed a demurrer and motion to strike seeking to dismiss the claim for breach of the implied covenant of good faith and fair dealing and certain tort and breach of contract claims asserted in the third amended complaint. On July 27, 2021, the court granted in part and denied in part the Company's motion. On January 12, 2022, the Company filed a motion for summary adjudication of many of the remaining claims. On April 6, 2022, the court granted the Company’s summary adjudication motion in part, dismissing the Plaintiffs’ claims for breach of the implied covenant of good faith and fair dealing and inducing breach of contract. On January 26, 2023, the Plaintiffs filed a notice of appeal of the court’s post-trial, demurrer, and summary adjudication decisions. The parties entered into an agreement to resolve through confidential binding arbitration the remaining claims in the litigation (consisting mainly of ordinary course profit participation audit claims), and as a result, the court formally dismissed the case. The arbitration to resolve the two remaining claims for breach of contract was held between October 16 through October 20, 2023. On March 12, 2024, the arbitral panel issued a decision awarding the Plaintiffs the sum of approximately $7.8 million. The arbitral panel's decision did not have a material impact on the Company's financial condition or results of operations. On November 14, 2022, the Plaintiffs filed a separate complaint in California Superior Court (the “MFN Litigation”) in connection with the Company’s July 16, 2021 settlement agreement with Frank Darabont (“Darabont”), Ferenc, Inc., Darkwoods Productions, Inc., and Creative Artists Agency, LLC (the “Darabont Parties”), which resolved litigations the Darabont Parties had brought in connection with Darabont's rendering services as a writer, director and producer of the television series entitled The Walking Dead and the agreement between the parties related thereto (the “Darabont Settlement”). Plaintiffs assert claims for breach of contract, alleging that the Company breached the most favored nations (“MFN”) provisions of Plaintiffs’ contracts with the Company by failing to pay them additional contingent compensation as a result of the Darabont Settlement (the “MFN Litigation”). Plaintiffs claim in the MFN Litigation that they are entitled to actual and compensatory damages in excess of $200 million. The Plaintiffs also brought a cause of action to enjoin an arbitration the Company commenced in May 2022 concerning the same dispute. On December 15, 2022, the Company removed the MFN Litigation to the United States District Court for the Central District of California. On January 13, 2023, the Company filed a motion to dismiss the MFN Litigation and informed the court that the Company had withdrawn the arbitration Plaintiffs sought to enjoin. On March 25, 2024, the Court issued a ruling denying the Company’s motion to dismiss and the parties are currently conducting discovery. The trial for this matter, previously scheduled for September 17, 2024, has been rescheduled to May 6, 2025. The Company believes that the asserted claims are without merit and will vigorously defend against them if they are not dismissed. At this time, no determination can be made as to the ultimate outcome of this litigation or the potential liability, if any, on the part of the Company. The Company has been a party to actions and claims arising from alleged violations of the federal Video Privacy Protection Act (the “VPPA”) and analogous state laws. In addition to putative class actions, the Company faced a series of arbitration claims managed by multiple plaintiffs’ law firms. The class action complaints and the arbitration claims all alleged that the Company’s use of a Meta Platforms, Inc. pixel on the websites for certain of its subscription video services and channels violated the privacy protection provisions of the VPPA and its state law analogues. On October 27, 2023, the Company reached a settlement with multiple plaintiffs relating to their pending class actions alleging violations of the VPPA and analogous state laws with respect to the Company's subscription video services. On May 16, 2024, the class action settlement was approved by the United States District Court for the Southern District of New York. The Company has also reached settlements to resolve the arbitration claims. All of the settlements reached by the Company in connection with these matters were reimbursed by the Company’s insurance carriers. The Company is party to various lawsuits and claims in the ordinary course of business, including the matters described above, as well as other lawsuits and claims relating to employment, intellectual property, and privacy and data protection matters. Although the outcome of these matters cannot be predicted with certainty and while the impact of these matters on the Company's results of operations in any particular subsequent reporting period could be material, management does not believe that the resolution of these matters will have a material adverse effect on the financial position of the Company or the ability of the Company to meet its financial obligations as they become due.

Redeemable Noncontrolling Interests

6 Months Ended

Jun. 30, 2024

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests

In connection with the Company's previous acquisitions of New Video Channel America L.L.C (owner of the cable channel BBCA) and RLJ Entertainment, the terms of the acquisition agreements provide the noncontrolling members with a right to put all of their noncontrolling interest to subsidiaries of the Company at a future time. Since the exercise of these put rights is outside the Company's control, the noncontrolling interest in each entity is presented as a redeemable noncontrolling interest outside of stockholders' equity on the Company's condensed consolidated balance sheet.

The following tables summarize activity related to redeemable noncontrolling interest for the three and six months ended June 30, 2024 and 2023:


(In thousands)	Three Months Ended June 30, 2024
March 31, 2024	$	197,370
Net earnings (loss)	(10,953)
Distributions	(9,159)
Adjustment to redemption fair value	2,807

June 30, 2024	$	180,065


(In thousands)	Three Months Ended June 30, 2023
March 31, 2023	$	249,919
Net earnings	6,800
Distributions	(15,233)


June 30, 2023	$	241,486


(In thousands)	Six Months Ended June 30, 2024
December 31, 2023	$	185,297
Net earnings (loss)	(433)
Distributions	(10,327)
Adjustment to redemption fair value	5,528

June 30, 2024	$	180,065


(In thousands)	Six Months Ended June 30, 2023
December 31, 2022	$	253,669
Net earnings	13,070
Distributions	(25,253)


June 30, 2023	$	241,486

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Total AMC Networks Stockholders’ Equity	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Paid-in Capital	Accumulated Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Non-redeemable Noncontrolling Interests
Beginning Balance at Dec. 31, 2022	$ 853,813	$ 806,988	$ 661	$ 115	$ 360,251	$ 2,105,641	$ (1,419,882)	$ (239,798)	$ 46,825
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income attributable to AMC Networks’ stockholders	173,849	173,849				173,849
Net income (loss) attributable to non-redeemable noncontrolling interests	(13,528)								(13,528)
Distribution to noncontrolling member	(1,834)								(1,834)
Other comprehensive income (loss)	21,644	20,522						20,522	1,122
Share-based compensation expenses	13,530	13,530			13,530
Tax withholding associated with shares issued under employee stock plans	(7,223)	(7,223)	5		(7,228)
Ending Balance at Jun. 30, 2023	1,040,251	1,007,666	666	115	366,553	2,279,490	(1,419,882)	(219,276)	32,585
Beginning Balance at Mar. 31, 2023	969,042	921,796	665	115	360,117	2,209,251	(1,419,882)	(228,470)	47,246
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income attributable to AMC Networks’ stockholders	70,239	70,239				70,239
Net income (loss) attributable to non-redeemable noncontrolling interests	(14,941)								(14,941)
Distribution to noncontrolling member	(352)								(352)
Other comprehensive income (loss)	9,826	9,194						9,194	632
Share-based compensation expenses	7,648	7,648			7,648
Tax withholding associated with shares issued under employee stock plans	(1,211)	(1,211)	1		(1,212)
Ending Balance at Jun. 30, 2023	1,040,251	1,007,666	666	115	366,553	2,279,490	(1,419,882)	(219,276)	32,585
Beginning Balance at Dec. 31, 2023	1,073,946	1,048,051	667	115	378,877	2,321,105	(1,419,882)	(232,831)	25,895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income attributable to AMC Networks’ stockholders	16,569	16,569				16,569
Net income (loss) attributable to non-redeemable noncontrolling interests	8,958								8,958
Distribution to noncontrolling member	(6,193)								(6,193)
Redeemable noncontrolling interest adjustment to redemption fair value	(5,528)	(5,528)			(5,528)
Other comprehensive income (loss)	(15,566)	(15,289)						(15,289)	(277)
Share-based compensation expenses	14,532	14,532			14,532
Common stock issued under employee stock plans	0				(8,902)	(2,148)	11,050
Tax withholding associated with shares issued under employee stock plans	(4,626)	(4,626)			(4,626)
Ending Balance at Jun. 30, 2024	1,082,092	1,053,709	667	115	374,353	2,335,526	(1,408,832)	(248,120)	28,383
Beginning Balance at Mar. 31, 2024	1,106,905	1,080,275	667	115	369,877	2,365,524	(1,410,105)	(245,803)	26,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income attributable to AMC Networks’ stockholders	(29,234)	(29,234)				(29,234)
Net income (loss) attributable to non-redeemable noncontrolling interests	7,898								7,898
Distribution to noncontrolling member	(6,193)								(6,193)
Redeemable noncontrolling interest adjustment to redemption fair value	(2,807)	(2,807)			(2,807)
Other comprehensive income (loss)	(2,269)	(2,317)						(2,317)	48
Share-based compensation expenses	8,457	8,457			8,457
Common stock issued under employee stock plans	0				(509)	(764)	1,273
Tax withholding associated with shares issued under employee stock plans	(665)	(665)			(665)
Ending Balance at Jun. 30, 2024	$ 1,082,092	$ 1,053,709	$ 667	$ 115	$ 374,353	$ 2,335,526	$ (1,408,832)	$ (248,120)	$ 28,383

Equity Plans (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
Equity Plans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax withholding associated with shares issued under employee stock plans	$ 665		$ 1,211	$ 4,626	$ 7,223
Share-based payment arrangement, noncash expense including restructuring and other related charges	8,500		7,600	14,500	13,500
Share-based compensation expense, related to restructuring and other related charges	8,457		7,648	14,532	13,293
Total unrecognized share-based compensation costs	$ 35,200			$ 35,200
Total unrecognized share-based compensation costs, remaining period of recognition				2 years 3 months 18 days
Restructuring Charges
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense, related to restructuring and other related charges			$ 200		$ 200
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in period (in shares)	104,546	2,025,265
Vesting period (in years)		3 years
Shares surrendered to the company for tax withholding (in shares)	46,334			377,717
RSUs \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
New shares of company's class A common stock issued (in shares)	54,851			536,579
RSUs \| Executive Officer \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested in period (in shares)	101,185			914,296

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, trade, allowance for doubtful accounts	$ 9,329	$ 9,488
Property and equipment, accumulated depreciation	$ 434,044	$ 403,708
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	45,000,000	45,000,000
Preferred stock, shares issued (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	360,000,000	360,000,000
Common stock, shares issued (in shares)	66,730,000	66,670,000
Common stock, shares outstanding (in shares)	32,614,000	32,077,000
Treasury stock (in shares)	34,117,000	34,593,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	11,484,000	11,484,000
Common stock, shares outstanding (in shares)	11,484,000	11,484,000

Fair Value Measurement

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity's pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels:

•Level I - Quoted prices for identical instruments in active markets.

•Level II - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

•Level III - Instruments whose significant value drivers are unobservable.


(In thousands)	Level I		Level II		Level III		Total
At June 30, 2024:
Assets
Cash equivalents	$	183,675	$	—	$	—	$	183,675



Foreign currency derivatives	—		7,437		—		7,437

Liabilities

Foreign currency derivatives	—		2,145		—		2,145


At December 31, 2023:
Assets




Foreign currency derivatives	$	—	$	8,277	$	—	$	8,277

Liabilities

Foreign currency derivatives	—		2,295		—		2,295

The Company's cash equivalents (comprised of money market mutual funds) are classified within Level I of the fair value hierarchy because they are valued using quoted market prices.

The Company's foreign currency derivatives are classified within Level II of the fair value hierarchy as their fair values are determined based on a market approach valuation technique that uses readily observable market parameters and the consideration of counterparty risk.

At June 30, 2024 and December 31, 2023, the Company did not have any material assets or liabilities measured at fair value on a recurring basis that would be considered Level III.

Fair value measurements are also used in nonrecurring valuations performed in connection with acquisition accounting and impairment testing. These nonrecurring valuations primarily include the valuation of program rights, goodwill, intangible assets and property and equipment. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level III of the fair value hierarchy.

Credit Facility Debt and Senior Notes

The fair values of each of the Company's debt instruments are based on quoted market prices for the same or similar issues or on the current rates offered to the Company for instruments of the same remaining maturities.


(In thousands)	June 30, 2024
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term Loan A Facility	$	409,541	$	408,538
10.25% Senior Secured Notes due 2029	860,462		857,500
4.25% Senior Notes due 2029	974,416		659,957
4.25% Convertible Senior Notes due 2029	139,437		136,002
	$	2,383,856	$	2,061,997


(In thousands)	December 31, 2023
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term Loan A Facility	$	602,551	$	577,884

4.75% Senior Notes due 2025	771,013		745,677
4.25% Senior Notes due 2029	988,185		780,670

	$	2,361,749	$	2,104,231

Fair value estimates related to the Company's debt instruments presented above are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgments and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The carrying amount of goodwill, by operating segment is as follows:


(In thousands)	Domestic Operations		International		Total
December 31, 2023	$	348,732	$	277,764	$	626,496
Impairment charge	—		(68,004)		(68,004)


Foreign currency translation	—		(4,717)		(4,717)
June 30, 2024	$	348,732	$	205,043	$	553,775

Impairment and other charges for the three and six months ended June 30, 2024 included a $68.0 million goodwill impairment charge at AMCNI, as further discussed below.

As of June 30, 2024 and December 31, 2023, accumulated impairment charges in the International segment totaled $253.5 million and $185.5 million, respectively, inclusive of the 25/7 Media impairment charges recorded in 2023 prior to divestiture.

The following tables summarize information relating to the Company's identifiable intangible assets:


(In thousands)	June 30, 2024
	Gross		Accumulated Amortization		Net		Estimated Useful Lives
Amortizable intangible assets:
Affiliate and customer relationships	$	614,743	$	(446,764)	$	167,979	6 to 25 years
Advertiser relationships	46,282		(46,282)		—		11 years
Trade names and other amortizable intangible assets	90,357		(44,865)		45,492		3 to 20 years

Total amortizable intangible assets	751,382		(537,911)		213,471
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	771,282	$	(537,911)	$	233,371

(In thousands)	December 31, 2023
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:
Affiliate and customer relationships	$	618,778	$	(421,968)	$	196,810
Advertiser relationships	46,282		(42,806)		3,476
Trade names and other amortizable intangible assets	91,134		(42,762)		48,372

Total amortizable intangible assets	756,194		(507,536)		248,658
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	776,094	$	(507,536)	$	268,558

Aggregate amortization expense for amortizable intangible assets for the three months ended June 30, 2024 and 2023 was $9.6 million and $10.5 million, respectively, and for the six months ended June 30, 2024 and 2023 was $18.2 million and $20.9 million, respectively.

Excluding the $15.7 million impairment charge associated with BBCA recorded in the second quarter of 2024, as discussed below, estimated aggregate amortization expense for intangible assets subject to amortization for each of the following five years is:


(In thousands)
Years Ending December 31,
2024	$	33,864
2025	30,491
2026	29,556
2027	24,886
2028	22,759

Impairment Test of Long-Lived Assets and Goodwill

Impairment and other charges of $96.8 million for the three and six months ended June 30, 2024 primarily consisted of a $68.0 million goodwill impairment charge at AMCNI and $29.2 million of long-lived asset impairment charges at BBCA. Impairment and other charges of $24.9 million for the three and six months ended June 30, 2023 consisted of goodwill and long-lived asset impairment charges at 25/7 Media.

Goodwill is not amortized, but instead is tested for impairment at the reporting unit annually as of December 1, or more frequently upon the occurrence of certain events or substantive changes in circumstances. During the second quarter of 2024, the Company determined that a triggering event had occurred with respect to the Company's decline in stock price. Accordingly, the Company performed quantitative assessments for all reporting units. The fair values were determined using a combination of an income approach, using a discounted cash flow ("DCF") model and a market comparables approach. The DCF model includes significant assumptions about revenue growth rates, long-term growth rates, and enterprise specific discount rates. Additionally, the market comparables approach uses guideline company valuation multiples. Given the uncertainty in determining assumptions underlying the DCF approach, actual results may differ from those used in the valuations. Based on the valuations performed, the Company concluded that the estimated fair value of the AMCNI reporting unit declined to less than its carrying amount. As a result, the Company recognized an impairment charge of $68.0 million related to the AMCNI reporting unit, included in Impairment and other charges in the condensed consolidated statements of income (loss). No impairment charges were required for our other reporting unit.

Additionally during the second quarter of 2024, given continued market challenges and linear declines, the Company determined that sufficient indicators of potential impairment of long-lived assets existed at BBCA, and concluded that the carrying amount of the BBCA asset group was not recoverable. The carrying value of the BBCA asset group exceeded its fair value, and accordingly an impairment charge of $15.7 million was recorded for identifiable intangible assets and $13.5 million for other long-lived assets, which is included in Impairment and other charges in the condensed consolidated statements of income (loss) within the Domestic Operations operating segment. Fair values were determined using a market approach.

During the second quarter of 2023, and prior to its divestiture in December 2023, the Company revised its outlook for the 25/7 Media business, resulting in lower expected future cash flows. The Company performed a recoverability test and determined that the carrying amount of the 25/7 Media asset group was not recoverable. The carrying value of the asset group exceeded its fair value, therefore an impairment charge of $23.0 million was recorded for identifiable intangible assets, which is included in Impairment and other charges in the condensed consolidated statements of income (loss) within the International operating segment. Fair values used to determine the impairment charge were determined using an income approach, specifically a DCF model, and a market comparables approach.

During the second quarter of 2023, the Company also determined that a triggering event had occurred with respect to the 25/7 Media reporting unit, which required an interim goodwill impairment test to be performed. Accordingly, the Company performed a quantitative assessment using an income approach, specifically a DCF model, and a market comparables approach. Based on the valuations performed, a $1.9 million goodwill impairment charge was recorded, which is included in Impairment and other charges in the condensed consolidated statements of income (loss) within the International operating segment.

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 802,553	$ 570,576
Accounts receivable, trade (less allowance for doubtful accounts of $9,329 and $9,488)	643,278	664,396
Current portion of program rights, net	7,089	7,880
Prepaid expenses and other current assets	264,848	380,518
Total current assets	1,717,768	1,623,370
Property and equipment, net of accumulated depreciation of $434,044 and $403,708	141,803	159,237
Program rights, net	1,790,978	1,802,653
Intangible assets, net	233,371	268,558
Goodwill	553,775	626,496
Deferred tax assets, net	12,522	11,456
Operating lease right-of-use assets	63,658	71,163
Other assets	358,845	406,854
Total assets	4,872,720	4,969,787
Current Liabilities:
Accounts payable	109,672	89,469
Accrued liabilities	319,112	385,838
Current portion of program rights obligations	257,232	301,221
Deferred revenue	57,768	65,736
Current portion of long-term debt	32,500	67,500
Current portion of lease obligations	31,461	33,659
Total current liabilities	807,745	943,423
Program rights obligations	165,177	150,943
Long-term debt, net	2,351,356	2,294,249
Lease obligations	74,983	87,240
Deferred tax liabilities, net	156,017	160,383
Other liabilities	55,285	74,306
Total liabilities	3,610,563	3,710,544
Commitments and contingencies
Redeemable noncontrolling interests	180,065	185,297
Stockholders' equity:
Preferred stock, $0.01 par value, 45,000 shares authorized; none issued	0	0
Paid-in capital	374,353	378,877
Accumulated earnings	2,335,526	2,321,105
Treasury stock, at cost (34,117 and 34,593 shares Class A Common Stock, respectively)	(1,408,832)	(1,419,882)
Accumulated other comprehensive loss	(248,120)	(232,831)
Total AMC Networks stockholders' equity	1,053,709	1,048,051
Non-redeemable noncontrolling interests	28,383	25,895
Total stockholders' equity	1,082,092	1,073,946
Total liabilities and stockholders' equity	4,872,720	4,969,787
Class A Common Stock
Stockholders' equity:
Common stock, value	667	667
Class B Common Stock
Stockholders' equity:
Common stock, value	$ 115	$ 115

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Net revenues from related parties	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
Selling, general and administrative charges from related parties	208,176	194,298	397,057	379,904
Related Party
Related Party Transaction [Line Items]
Net revenues from related parties	1,300	1,300	2,600	2,600
Selling, general and administrative charges from related parties	$ 100	$ 3,300	$ 500	$ 6,600

- Definition

+ References

+ Details

Program Rights (Program Rights by Predominant Monetization Strategy) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Predominantly Monetized Individually
Completed	$ 97,148	$ 139,363
In-production and in-development	0	0
Total owned original program rights, net	97,148	139,363
Licensed film and acquired series	532	973
Licensed originals	0	1,555
Advances and other production costs	0	0
Total licensed program rights, net	532	2,528
Program rights, net	97,680	141,891
Predominantly Monetized as a Group
Completed	624,518	532,839
In-production and in-development	252,746	284,455
Total owned original program rights, net	877,264	817,294
Licensed film and acquired series	594,298	599,607
Licensed originals	143,918	169,489
Advances and other production costs	84,907	82,252
Total licensed program rights, net	823,123	851,348
Program rights, net	1,700,387	1,668,642
Total
Completed	721,666	672,202
In-production and in-development	252,746	284,455
Total owned original program rights, net	974,412	956,657
Licensed film and acquired series	594,830	600,580
Licensed originals	143,918	171,044
Advances and other production costs	84,907	82,252
Total licensed program rights, net	823,655	853,876
Program rights, net	1,798,067	1,810,533
Current portion of program rights, net	7,089	7,880
Program rights, net (long-term)	$ 1,790,978	$ 1,802,653

Goodwill and Other Intangible Assets (Schedule of Finite and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 751,382	$ 756,194
Accumulated Amortization	(537,911)	(507,536)
Net	213,471	248,658
Trademarks	19,900	19,900
Total intangible assets, gross	771,282	776,094
Total intangible assets, net	233,371	268,558
Affiliate and customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	614,743	618,778
Accumulated Amortization	(446,764)	(421,968)
Net	$ 167,979	196,810
Affiliate and customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	6 years
Affiliate and customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	25 years
Advertiser relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 46,282	46,282
Accumulated Amortization	(46,282)	(42,806)
Net	$ 0	3,476
Estimated useful lives (in years)	11 years
Trade names and other amortizable intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	$ 90,357	91,134
Accumulated Amortization	(44,865)	(42,762)
Net	$ 45,492	$ 48,372
Trade names and other amortizable intangible assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	3 years
Trade names and other amortizable intangible assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	20 years

Segment Information (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Property and equipment, net	$ 141,803	$ 159,237
United States
Segment Reporting Information [Line Items]
Property and equipment, net	129,694	146,314
Europe
Segment Reporting Information [Line Items]
Property and equipment, net	10,868	11,850
Other
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,241	$ 1,073

Net Income per Share (Reconciliation Between Basic and Diluted Weighted Average Shares Outstanding) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) attributable to AMC Networks' stockholders used for basic net income (loss) per share	$ (29,234)	$ 70,239	$ 16,569	$ 173,849
Add: Convertible Notes interest expense, net of tax	0	0	116	0
Net income (loss) attributable to AMC Networks' stockholders used for diluted net income (loss) per share	$ (29,234)	$ 70,239	$ 16,685	$ 173,849
Basic weighted average common shares outstanding (in shares)	44,466	43,842	44,267	43,702
Effect of dilution:
Restricted stock units (in shares)	0	58	556	133
Convertible Notes (in shares)	0	0	620	0
Diluted weighted average common shares outstanding (in shares)	44,466	43,900	45,443	43,835
Net income (loss) per share attributable to AMC Networks' stockholders:
Basic (in dollars per share)	$ (0.66)	$ 1.60	$ 0.37	$ 3.98
Diluted (in dollars per share)	$ (0.66)	$ 1.60	$ 0.37	$ 3.97

Restructuring and Other Related Charges

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Other Related Charges

Restructuring and other related charges were $2.9 million for the three and six months ended June 30, 2024, consisting primarily of content impairments in connection with WE tv shifting to a reduced originals strategy, and severance costs.

Restructuring and other related charges were $6.0 million and $12.0 million for the three and six months ended June 30, 2023, respectively, consisting primarily of severance and other personnel costs related to a restructuring plan (the "Plan") that commenced on November 28, 2022. The Plan was designed to achieve significant cost reductions in light of “cord cutting” and the related impacts being felt across the media industry as well as the broader economic outlook. The Plan encompassed initiatives that included, among other things, strategic programming assessments and organizational restructuring costs. The Plan was intended to improve the organizational design of the Company through the elimination of certain roles and centralization of certain functional areas of the Company. The programming assessments pertained to a broad mix of owned

and licensed content, including legacy television series and films that will no longer be in active rotation on the Company’s linear or streaming platforms.

The following table summarizes the restructuring and other related charges recognized by operating segment:


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Domestic Operations	$	2,931	$	3,905	$	2,931	$	4,723
International	—		261		—		1,646
Corporate / Inter-segment eliminations	—		1,875		—		5,605
Total restructuring and other related charges	$	2,931	$	6,041	$	2,931	$	11,974

The following table summarizes the accrued restructuring and other related costs:


(In thousands)	Severance and Employee-Related Costs		Content Impairments and Other Exit Costs		Total
Balance at December 31, 2023	$	8,726	$	5,008	$	13,734
Charges	1,317		1,614		2,931
Cash payments	(5,880)		(2,223)		(8,103)
Non-cash adjustments	—		(2,199)		(2,199)
Other	(902)		(102)		(1,004)
Balance at June 30, 2024	$	3,261	$	2,098	$	5,359

Accrued restructuring and other related costs of $5.4 million are included in Accrued liabilities in the condensed consolidated balance sheet at June 30, 2024. Accrued restructuring and other related costs of $12.1 million and $1.6 million are included in Accrued liabilities and Other liabilities, respectively, in the condensed consolidated balance sheet at December 31, 2023.

Description of Business and Basis of Presentation	6 Months Ended
Description of Business and Basis of Presentation	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business AMC Networks Inc. ("AMC Networks") and its subsidiaries (collectively referred to as the "Company," "we," "us," or "our") own and operate entertainment businesses and assets. The Company is comprised of two operating segments: •Domestic Operations: Includes our five national programming networks, our streaming services, our AMC Studios operation and our film distribution business. Our programming networks are AMC, WE tv, BBC AMERICA ("BBCA"), IFC, and SundanceTV. Our streaming services consist of AMC+ and our targeted subscription streaming services (Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE). Our AMC Studios operation produces original programming for our programming services and third parties and also licenses programming worldwide. Our film distribution business includes IFC Films, RLJ Entertainment Films and Shudder. The operating segment also includes AMC Networks Broadcasting & Technology, our technical services business, which primarily services the programming networks. •International: AMC Networks International ("AMCNI"), our international programming businesses consisting of a portfolio of channels distributed around the world. In 2024, the Company updated the name of its previously titled "International and Other" operating segment to "International" due to the divestiture of the 25/7 Media business on December 29, 2023, which was the sole component of the operating segment that comprised “Other.” This update does not constitute a change in segment reporting, but rather an update in name only. Prior period segment information contained in this report includes the results of the 25/7 Media business through the date of divestiture. Principles of Consolidation The consolidated financial statements include the accounts of AMC Networks and its subsidiaries in which a controlling financial interest is maintained or variable interest entities ("VIEs") in which the Company has determined it is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Investments in business entities in which the Company lacks control but does have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method of accounting. Unaudited Interim Financial Statements These condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and Article 10 of Regulation S-X of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the Company's consolidated financial statements and notes thereto for the year ended December 31, 2023 contained in the Company's Annual Report on Form 10-K (our "2023 Form 10-K") filed with the SEC. The condensed consolidated financial statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, such financial statements reflect all adjustments, consisting solely of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. The results of operations for interim periods are not necessarily indicative of the results that might be expected for future interim periods or for the full year ending December 31, 2024. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates and judgments inherent in the preparation of the consolidated financial statements include the useful lives and methodologies used to amortize and assess recoverability of program rights, the estimated useful lives of intangible assets and the valuation and recoverability of goodwill and intangible assets. Reclassifications Certain reclassifications were made to the prior period amounts to conform to the current period presentation. Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The Company will incorporate the required disclosure updates for the 2025 annual financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The Company will incorporate the required disclosure updates for the 2024 annual financial statements.

Segment Information (Schedule of Revenues by Geographic Location) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues, net	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
United States
Segment Reporting Information [Line Items]
Revenues, net	487,414	551,637	971,507	1,157,865
Europe
Segment Reporting Information [Line Items]
Revenues, net	102,875	83,718	180,126	157,485
Other
Segment Reporting Information [Line Items]
Revenues, net	$ 35,645	$ 43,273	$ 70,762	$ 80,725

- Definition

+ References

+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2024, income tax expense was $10.9 million on income (loss) from operations before income taxes of $(21.4) million, and $34.5 million on income from operations before income taxes of $59.6 million, respectively, representing an effective tax rate of (51)% and 58%, respectively. The effective tax rate for both the three and six months ended June 30, 2024 was impacted by the $68.0 million nondeductible goodwill impairment charge at AMCNI. Inclusive of the nondeductible goodwill impairment charge, items resulting in variances from the federal statutory rate of 21% for the three and six months ended June 30, 2024 primarily consist of state and local income tax expense, tax expense from foreign operations, tax expense for an increase in the valuation allowance for foreign taxes and tax expense related to non-deductible compensation. For the three and six months ended June 30, 2023, income tax expense was $22.2 million on income from operations before income taxes of $84.3 million, and $59.1 million on income from operations before income taxes of $232.4 million, respectively, representing an effective tax rate of 26% and 25%, respectively. The items resulting in variances from the federal statutory rate of 21% for the three and six months ended June 30, 2023 primarily consist of state and local income tax expense and tax expense related to non-deductible compensation. At June 30, 2024, the Company had foreign tax credit carry forwards of approximately $52.4 million, expiring on various dates from 2024 through 2034. These carryforwards have been reduced to zero by a valuation allowance of $52.4 million as it is more likely than not that these carry forwards will not be realized. During the three and six months ended June 30, 2024, approximately $28.6 million of cash and cash equivalents, previously held by foreign subsidiaries, was repatriated to the United States. Our consolidated cash and cash equivalents balance of $802.6 million, as of June 30, 2024, included approximately $129.0 million held by foreign subsidiaries. Of this amount, approximately $25.0 million is expected to be repatriated to the United States with the remaining amount continuing to be reinvested in foreign operations. Tax expense related to the repatriated amount, as well as the expected remaining repatriation amount, has been accrued and the Company does not expect to incur any significant, additional taxes related to the remaining balance. In December 2021, the Organization for Economic Co-operation and Development (OECD) released the Pillar Two Model Rules, which aim to reform international corporate taxation rules, including the implementation of a global minimum tax rate. The Company began the phased implementation of the Pillar Two Model Rules in the first quarter of 2024 and as of June 30, 2024, the Pillar Two minimum tax requirement is not expected to have a material impact upon the Company's full year results of operations or financial position.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2023	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized			$ 38.8	$ 97.4
One-time retroactive adjustment		$ 13.4	$ 13.4
Maximum limit of unpaid customer receivables	$ 125.0

Restructuring and Other Related Charges (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other related charges	$ 2,931	$ 6,041	$ 2,931	$ 11,974
Accrued restructuring costs	5,359		5,359		$ 13,734
Accrued liabilities
Restructuring Cost and Reserve [Line Items]
Accrued restructuring costs	5,400		5,400		12,100
Other liabilities
Restructuring Cost and Reserve [Line Items]
Accrued restructuring costs					$ 1,600
2022 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and other related charges	$ 2,900	$ 6,000	$ 2,900	$ 12,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
Cash Flows (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Non-Cash Investing and Financing Activities:
Operating lease additions	$ 2,974	$ 3,023
Capital expenditures incurred but not yet paid	1,911	1,402
Supplemental Data:
Cash interest paid	67,731	71,993
Income tax (refunds) payments, net	$ (4,738)	$ 31,438

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income including noncontrolling interests	$ 25,094	$ 173,391
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	52,319	51,620
Non-cash impairment and other charges	96,819	24,882
Share-based compensation expenses related to equity classified awards	14,532	13,293
Amortization and write-off of program rights	414,716	430,386
Amortization of deferred carriage fees	10,762	10,992
Unrealized foreign currency transaction loss	2,640	2,712
Amortization of deferred financing costs and discounts on indebtedness	3,371	3,905
Gain on extinguishment of debt, net	(247)	0
Deferred income taxes	(5,705)	(725)
Other, net	1,316	(1,131)
Changes in assets and liabilities:
Accounts receivable, trade (including amounts due from related parties, net)	16,489	54,221
Prepaid expenses and other assets	143,856	127,342
Program rights and obligations, net	(435,471)	(644,114)
Deferred revenue	(8,047)	(59,828)
Accounts payable, accrued liabilities and other liabilities	(77,172)	(161,899)
Net cash provided by operating activities	255,272	25,047
Cash flows from investing activities:
Capital expenditures	(15,958)	(21,450)
Proceeds from sale of investments	0	8,565
Other investing activities, net	3,936	(103)
Net cash used in investing activities	(12,022)	(12,988)
Cash flows from financing activities:
Proceeds from the issuance of 10.25% Senior Secured Notes due 2029, net	862,969	0
Proceeds from the issuance of 4.25% Convertible Senior Notes due 2029, net	139,437	0
Principal payments on Term Loan A Facility	(190,625)	(16,875)
Payments for financing costs	(9,424)	(342)
Deemed repurchases of restricted stock units	(4,626)	(7,223)
Principal payments on finance lease obligations	(2,275)	(1,946)
Distributions to noncontrolling interests	(16,520)	(27,087)
Purchase of noncontrolling interests	0	(1,343)
Net cash used in financing activities	(5,922)	(54,816)
Net increase (decrease) in cash and cash equivalents from operations	237,328	(42,757)
Effect of exchange rate changes on cash and cash equivalents	(5,351)	6,125
Cash and cash equivalents at beginning of period	570,576	930,002
Cash and cash equivalents at end of period	802,553	893,370
4.75% Senior Notes due August 2025 \| Senior Notes
Cash flows from financing activities:
Repayments of senior debt	(774,729)	0
4.25% Senior Notes Due 2029 \| Senior Notes
Cash flows from financing activities:
Repayments of senior debt	$ (10,129)	$ 0

Restructuring and Other Related Charges (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Summary of Accrued Restructuring Costs

The following table summarizes the restructuring and other related charges recognized by operating segment:


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Domestic Operations	$	2,931	$	3,905	$	2,931	$	4,723
International	—		261		—		1,646
Corporate / Inter-segment eliminations	—		1,875		—		5,605
Total restructuring and other related charges	$	2,931	$	6,041	$	2,931	$	11,974

The following table summarizes the accrued restructuring and other related costs:


(In thousands)	Severance and Employee-Related Costs		Content Impairments and Other Exit Costs		Total
Balance at December 31, 2023	$	8,726	$	5,008	$	13,734
Charges	1,317		1,614		2,931
Cash payments	(5,880)		(2,223)		(8,103)
Non-cash adjustments	—		(2,199)		(2,199)
Other	(902)		(102)		(1,004)
Balance at June 30, 2024	$	3,261	$	2,098	$	5,359

Long-term Debt (Redeemed Percentage) (Details) - 10.25% Senior Secured Notes Due 2029 - Senior Notes	Apr. 09, 2024
2026
Debt Instrument [Line Items]
Redemption price (as a percentage)	105.125%
2027
Debt Instrument [Line Items]
Redemption price (as a percentage)	102.563%
2028 and thereafter
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
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-Name Accounting Standards Codification
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+ Details

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Employee related costs	$ 64,471	$ 93,866
Participations and residuals	153,145	164,375
Interest	36,681	31,749
Other accrued expenses	64,815	95,848
Total accrued liabilities	$ 319,112	$ 385,838

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Foreign Currency Exchange Rate Risk

We are exposed to foreign currency risk to the extent that we enter into transactions denominated in currencies other than one of our subsidiaries' respective functional currencies (non-functional currency risk), such as affiliation agreements, programming contracts, certain trade receivables and accounts payable (including intercompany amounts) that are denominated in a currency other than the applicable functional currency.

The fair values of the Company's derivative financial instruments included in the condensed consolidated balance sheets are as follows:


(In thousands)	Balance Sheet Location	June 30, 2024		December 31, 2023





Derivatives not designated as hedging instruments:
Assets:
Foreign currency derivatives	Prepaid expenses and other current assets	$	708	$	378
Foreign currency derivatives	Other assets	6,729		7,899


Liabilities:


Foreign currency derivatives	Accrued liabilities	$	1,019	$	1,065
Foreign currency derivatives	Current portion of program rights obligations	—		8
Foreign currency derivatives	Other liabilities	1,126		1,222

The amounts of gains and losses related to the Company's derivative financial instruments not designated as hedging instruments are as follows:


(In thousands)	Location of Gain (Loss) Recognized in Earnings on Derivatives	Amount of Gain (Loss) Recognized in Earnings on Derivatives
		Three Months Ended June 30,				Six Months Ended June 30,
		2024		2023		2024		2023

Foreign currency derivatives	Miscellaneous, net	$	4,239	$	4,908	$	(791)	$	9,813

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 33,864
2025	30,491
2026	29,556
2027	24,886
2028	$ 22,759

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments Included in Balance Sheets

The fair values of the Company's derivative financial instruments included in the condensed consolidated balance sheets are as follows:


(In thousands)	Balance Sheet Location	June 30, 2024		December 31, 2023





Derivatives not designated as hedging instruments:
Assets:
Foreign currency derivatives	Prepaid expenses and other current assets	$	708	$	378
Foreign currency derivatives	Other assets	6,729		7,899


Liabilities:


Foreign currency derivatives	Accrued liabilities	$	1,019	$	1,065
Foreign currency derivatives	Current portion of program rights obligations	—		8
Foreign currency derivatives	Other liabilities	1,126		1,222

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The amounts of gains and losses related to the Company's derivative financial instruments not designated as hedging instruments are as follows:


(In thousands)	Location of Gain (Loss) Recognized in Earnings on Derivatives	Amount of Gain (Loss) Recognized in Earnings on Derivatives
		Three Months Ended June 30,				Six Months Ended June 30,
		2024		2023		2024		2023

Foreign currency derivatives	Miscellaneous, net	$	4,239	$	4,908	$	(791)	$	9,813

Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease asset	$ 63,658	$ 71,163
Finance lease asset	9,335	9,884
Total lease assets	72,993	81,047
Operating lease liability, current	26,841	28,971
Finance lease liability, current	4,620	4,688
Total lease liabilities, current	31,461	33,659
Operating lease liability, noncurrent	62,837	72,797
Finance lease liability, noncurrent	12,146	14,443
Total lease liabilities, noncurrent	74,983	87,240
Total lease liabilities	$ 106,444	$ 120,899
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net of accumulated depreciation of $434,044 and $403,708	Property and equipment, net of accumulated depreciation of $434,044 and $403,708
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of lease obligations	Current portion of lease obligations
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of lease obligations	Current portion of lease obligations
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total lease liabilities, noncurrent	Total lease liabilities, noncurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total lease liabilities, noncurrent	Total lease liabilities, noncurrent

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Contingency [Line Items]
Income tax expense	$ 10,893	$ 22,155	$ 34,542	$ 59,054
Income (loss) from operations before income taxes	$ (21,396)	$ 84,253	$ 59,636	$ 232,445
Effective tax rate	(51.00%)	26.00%	58.00%	25.00%
Nondeductible goodwill impairment	$ 68,000		$ 68,000
Foreign earnings repatriated	28,600		28,600
Cash and cash equivalents	802,553		802,553		$ 570,576
Foreign subsidiaries	129,000		129,000
Foreign earnings expected to be repatriated			25,000
Foreign Tax Authority
Income Tax Contingency [Line Items]
Tax credit carryforward, amount	52,400		52,400
Valuation allowance	$ 52,400		$ 52,400

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Summary of Leases Included in the Consolidated Balance Sheets

The following table summarizes the leases included in the condensed consolidated balance sheets as follows:


(In thousands)	Balance Sheet Location	June 30, 2024		December 31, 2023
Assets
Operating	Operating lease right-of-use assets	$	63,658	$	71,163
Finance	Property and equipment, net	9,335		9,884
Total lease assets		$	72,993	$	81,047
Liabilities
Current:
Operating	Current portion of lease obligations	$	26,841	$	28,971
Finance	Current portion of lease obligations	4,620		4,688
		$	31,461	$	33,659
Noncurrent:
Operating	Lease obligations	$	62,837	$	72,797
Finance	Lease obligations	12,146		14,443
		$	74,983	$	87,240

Total lease liabilities		$	106,444	$	120,899

Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	$ 197,370	$ 249,919	$ 185,297	$ 253,669
Net earnings (loss)	(10,953)	6,800	(433)	13,070
Distributions	(9,159)	(15,233)	(10,327)	(25,253)
Adjustment to redemption fair value	2,807		5,528
Ending balance	$ 180,065	$ 241,486	$ 180,065	$ 241,486

Segment Information (Summary of Inter-Segment Eliminations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues, net	$ 625,934	$ 678,628	$ 1,222,395	$ 1,396,075
Corporate / Inter-segment Eliminations
Segment Reporting Information [Line Items]
Revenues, net	(2,452)	(2,495)	(5,822)	(4,974)
Corporate / Inter-segment Eliminations \| Domestic Operations
Segment Reporting Information [Line Items]
Revenues, net	(1,443)	(2,412)	(3,288)	(4,626)
Corporate / Inter-segment Eliminations \| International
Segment Reporting Information [Line Items]
Revenues, net	$ (1,009)	$ (83)	$ (2,534)	$ (348)

- Definition

+ References

+ Details

Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
Investments (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments [Abstract]
Equity method investments	$ 85,700,000		$ 85,700,000		$ 83,100,000
Investments in non-marketable equity securities	42,600,000		42,600,000		$ 41,600,000
Gain on non-marketable equity securities	0		0
Loss on non-marketable equity securities	$ 0		$ 0
Impairment charge on non-marketable equity security		$ 500,000		$ 1,700,000

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:


(In thousands)	June 30, 2024		December 31, 2023
Employee related costs	$	64,471	$	93,866
Participations and residuals	153,145		164,375
Interest	36,681		31,749

Other accrued expenses	64,815		95,848
Total accrued liabilities	$	319,112	$	385,838

Net Income per Share (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Net Income per Share (Narrative) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount authorized under stock repurchase program	$ 1,500,000,000		$ 1,500,000,000
Available for repurchase under the stock repurchase program	$ 135,300,000		$ 135,300,000
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS (in shares)	3,400,000	2,100,000	200,000	2,100,000
Convertible debt securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS (in shares)	11,300,000
Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares repurchased (in shares)	0	0	0	0
4.25% Convertible Senior Notes due February 2029 \| Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	4.25%		4.25%