United states securities and exchange commission



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5. Property and Equipment





























 

March 31, 2012

 

March 31, 2011

 

(Amounts in thousands)

Leasehold improvements

$

7,492




 

$

7,358




Property and equipment

7,865




 

7,856




Computer equipment and software

24,250




 

20,829




 

39,607




 

36,043




Less accumulated depreciation and amortization

(31,041

)

 

(28,160

)

 

8,566




 

7,883




Land

1,206




 

1,206




 

$

9,772




 

$

9,089




6. Goodwill

The changes in the carrying amount of goodwill by reporting segment in the years ended March 31, 2012 and 2011 were as follows:











































 

Motion

Pictures

 

Television

Production

 

Total

 

(Amounts in thousands)

Balance as of March 31, 2010 and 2011

$

210,293




 

$

28,961




 

$

239,254




Allocated to Maple Pictures asset group on disposal

(6,053

)

 






 

(6,053

)

Acquisition of Summit Entertainment, LLC

93,432




 






 

93,432




Balance as of March 31, 2012

$

297,672




 

$

28,961




 

$

326,633




During the year ended March 31, 2012 , a portion of Motion Pictures goodwill, amounting to $6.1 million was allocated to the Maple Pictures asset group and included in the carrying value of the assets disposed for purposes of calculating the gain on sale of Maple Pictures (see Note 15). Also during the year ended March 31, 2012 , goodwill increased by $93.4 million for the goodwill associated with the January 2012 acquisition of Summit Entertainment, LLC ("Summit") (see Note 15).
F-13

Table of Contents



LIONS GATE ENTERTAINMENT CORP.

NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS(Continued)


7. Equity Method Investments

The carrying amount of significant equity method investments at March 31, 2012 and March 31, 2011 were as follows:



 



































 

March 31,
2012


 

 

 

 

Equity Method Investee

Ownership

Percentage

 

March 31,
2012


 

March 31,
2011


 

 

 

 

 

As adjusted

 

 

 

(Amounts in thousands)

Horror Entertainment, LLC (“FEARnet”)

34.5%

 

$

2,880




 

$

2,809




NextPoint, Inc. (“Break Media”)

42.0%

 

8,477




 

14,293




Roadside Attractions, LLC (“Roadside”)

43.0%

 

3,118




 

2,756




Studio 3 Partners, LLC (“EPIX”)

31.2%

 

50,381




 

25,973




TV Guide Network

51.0%

 

106,406




 

114,940




Tiger Gate Entertainment Limited (“Tiger Gate”)

45.9%

 






 

1,123




 

 

 

$

171,262




 

$

161,894




Equity interests in equity method investments in our consolidated statements of operations represent our portion of the income or loss of our equity method investees based on our percentage ownership and the elimination of profits on sales to equity method investees. Equity interests in equity method investments for the years ended March 31, 2012 , 2011 and 2010 were as follows (income (loss)):

 









































 

Year Ended

 

Year Ended

 

Year Ended

Equity Method Investee

March 31,
2012


 

March 31,
2011


 

March 31,
2010


 

 

 

As adjusted

 

As adjusted

 

(Amounts in thousands)

Horror Entertainment, LLC (“FEARnet”)

$

71




 

$

679




 

$

(568

)

NextPoint, Inc. (“Break Media”)

(5,816

)

 

(2,404

)

 

(845

)

Roadside Attractions, LLC (“Roadside”)

612




 

842




 

(149

)

Studio 3 Partners, LLC (“EPIX”)

24,407




 

(14,994

)

 

(37,381

)

TV Guide Network

(8,533

)

 

(2,988

)

 

(52

)

Tiger Gate Entertainment Limited (“Tiger Gate”)

(2,329

)

 

(1,847

)

 






 

$

8,412




 

$

(20,712

)

 

$

(38,995

)

Horror Entertainment, LLC . Horror Entertainment, LLC (“FEARnet”), is a multiplatform programming and content service provider of horror genre films operating under the branding of “FEARnet.” The Company licenses content to FEARnet for video-on-demand and broadband exhibition. The Company is recording its share of the FEARnet results on a one quarter lag and, accordingly, during the year ended March 31, 2012 , the Company recorded its share of the income generated by FEARnet for the year ended December 31, 2011 .

NextPoint, Inc . NextPoint, Inc. (“Break Media”), is an online home entertainment service provider operating under the branding of “Break Media.” The Company is recording its share of the Break Media results on a one quarter lag and, accordingly, during the year ended March 31, 2012 , the Company recorded its share of losses incurred by Break Media for the year ended December 31, 2011 .

Break Media Financial Information:

The following table presents summarized balance sheet data as of December 31, 2011 and December 31, 2010 for Break Media:

F-14

Table of Contents



LIONS GATE ENTERTAINMENT CORP.

NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS(Continued)































 

 

December 31,
2011


 

December 31,
2010


 

 

(Amounts in thousands)

Current assets

 

$

13,298




 

$

16,551




Non-current assets

 

$

6,256




 

$

5,838




Current liabilities

 

$

15,992




 

$

17,015




Non-current liabilities

 

$

25,889




 

$

14,396






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