DreamWorks Animation SKG, Inc.
CIK:0001297401|SEC Filings
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
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| Income Statement [Abstract] | ||||||||
| Revenues | $ 220,926 | $ 170,782 | [1] | $ 411,368 | $ 337,312 | [1] | ||
| Operating expenses (income): | ||||||||
| Costs of revenues | 121,903 | 99,939 | 236,527 | 206,104 | ||||
| Selling and marketing | 7,476 | 12,077 | 13,616 | 20,552 | ||||
| General and administrative | 87,612 | 80,736 | [1] | 147,862 | 169,878 | [1] | ||
| Product development | 595 | 1,592 | [1] | 1,140 | 1,924 | [1] | ||
| Other operating income | (6,077) | (1,719) | [1] | (11,018) | (4,000) | [1] | ||
| Operating income (loss) | 9,417 | (21,843) | 23,241 | (57,146) | ||||
| Non-operating income (expense): | ||||||||
| Interest expense, net | (3,593) | (7,564) | (8,580) | (13,898) | ||||
| Other income (expense), net | 475 | 2,001 | 2,367 | (3,465) | ||||
| Increase in income tax benefit payable to former stockholder | 0 | (7,096) | 0 | (7,121) | ||||
| Income (loss) before loss from equity method investees and income taxes | 6,299 | (34,502) | 17,028 | (81,630) | ||||
| Loss from equity method investees | (3,572) | (2,775) | [1] | (1,030) | (9,137) | [1] | ||
| Income (loss) before income taxes | 2,727 | (37,277) | [1] | 15,998 | (90,767) | [1] | ||
| Provision for income taxes | 1,327 | 1,762 | 2,457 | 4,162 | ||||
| Net income (loss) | 1,400 | (39,039) | 13,541 | (94,929) | ||||
| Less: Net loss attributable to non-controlling interests | (934) | (456) | (2,629) | (1,569) | ||||
| Net income (loss) attributable to DreamWorks Animation SKG, Inc. | $ 2,334 | $ (38,583) | $ 16,170 | $ (93,360) | ||||
| Net income (loss) per share of common stock attributable to DreamWorks Animation SKG, Inc. | ||||||||
| Basic net income (loss) per share (in dollars per share) | $ 0.03 | $ (0.45) | $ 0.19 | $ (1.09) | ||||
| Diluted net income (loss) per share (in dollars per share) | $ 0.03 | $ (0.45) | $ 0.18 | $ (1.09) | ||||
| Shares used in computing net income (loss) per share | ||||||||
| Basic (in shares) | 86,627 | 85,732 | 86,513 | 85,674 | ||||
| Diluted (in shares) | 89,445 | 85,732 | 88,903 | 85,674 | ||||
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Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 75,145 | $ 110,814 |
| Trade accounts receivable, net of allowance for doubtful accounts | 249,790 | 271,466 |
| Receivables from distributors, net of allowance for doubtful accounts | 254,918 | 230,569 |
| Film and other inventory costs, net | 853,324 | 820,454 |
| Prepaid expenses | 30,074 | 29,133 |
| Other assets | 68,266 | 69,098 |
| Investments in unconsolidated entities | 39,829 | 32,814 |
| Property, plant and equipment, net of accumulated depreciation and amortization | 47,834 | 37,765 |
| Intangible assets, net of accumulated amortization | 164,637 | 172,328 |
| Goodwill | 190,668 | 190,668 |
| Total assets | 1,974,485 | 1,965,109 |
| Liabilities: | ||
| Accounts payable | 14,602 | 10,847 |
| Accrued liabilities | 172,939 | 199,665 |
| Payable to former stockholder | 4,392 | 20,776 |
| Deferred revenue and other advances | 54,571 | 74,659 |
| Deferred gain on sale-leaseback transaction | 85,129 | 87,410 |
| Revolving credit facility | 108,000 | 60,000 |
| Senior unsecured notes, net of deferred financing costs | 295,665 | 295,134 |
| Deferred taxes, net | 18,483 | 17,778 |
| Total liabilities | 753,781 | 766,269 |
| Commitments and contingencies | ||
| DreamWorks Animation SKG, Inc. Stockholders' Equity: | ||
| Additional paid-in capital | 1,244,317 | 1,227,220 |
| Accumulated other comprehensive loss | (7,436) | (3,642) |
| Retained earnings | 724,148 | 707,978 |
| Less: Class A Treasury common stock, at cost, 28,580,112 and 28,401,898 shares, as of June 30, 2016 and December 31, 2015, respectively | (793,947) | (789,186) |
| Total DreamWorks Animation SKG, Inc. stockholders' equity | 1,168,235 | 1,143,517 |
| Non-controlling interests | 52,469 | 55,323 |
| Total equity | 1,220,704 | 1,198,840 |
| Total liabilities and equity | 1,974,485 | 1,965,109 |
| Common Class A [Member] | ||
| DreamWorks Animation SKG, Inc. Stockholders' Equity: | ||
| Common stock | 1,075 | 1,069 |
| Common Class B [Member] | ||
| DreamWorks Animation SKG, Inc. Stockholders' Equity: | ||
| Common stock | $ 78 | $ 78 |