AMC Networks Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>AMC Networks Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

AMC Networks Inc. (AMCX) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. AMC Networks Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 11 Penn Plaza, New York, NY. AMC Networks Inc. operates in the Cable & Other Pay Television Services industry. The filing was made as of May 10, 2024.

Why It Matters

For investors and stakeholders tracking AMC Networks Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on AMC Networks' financial performance and operational status for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the evolving media landscape.

Risk Assessment

Risk Level: low — AMC Networks Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand AMC Networks' performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (First day of the reporting period)
• 2023-03-31 — Prior Year Quarter End Date (Prior year period end date)

Key Players & Entities

• AMC Networks Inc. (company) — Filer name
• 11 Penn Plaza (location) — Business address
• New York (location) — Business address city
• NY (location) — Business address state
• 275403694 (organization_id) — IRS number
• DE (location) — State of incorporation
• 4841 (industry_code) — Standard Industrial Classification code
• 2024-03-31 (date) — Conformed period of report

FAQ

Industry Context

AMC Networks Inc. operates within the Cable & Other Pay Television Services industry, a sector characterized by content creation, distribution, and subscription-based models.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934 for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review any disclosures regarding legal matters or significant operational changes.
3. Compare Q1 2024 performance against prior periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update of the year.

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share AMCX The NASDAQ Stock Market

Filing Documents

• amcx-20240331.htm (10-Q) — 1294KB
• mcdermottdan-employmentagr.htm (EX-10.1) — 47KB
• mcdermottdan-amendmenttoem.htm (EX-10.2) — 13KB
• amcx-3312024xex22.htm (EX-22) — 65KB
• amcx-3312024xex311.htm (EX-31.1) — 9KB
• amcx-3312024xex312.htm (EX-31.2) — 9KB
• amcx-3312024xex32.htm (EX-32) — 7KB
• image_0.jpg (GRAPHIC) — 102KB
• image_0a.jpg (GRAPHIC) — 16KB
• 0001514991-24-000019.txt (&nbsp;) — 7917KB
• amcx-20240331.xsd (EX-101.SCH) — 59KB
• amcx-20240331_cal.xml (EX-101.CAL) — 109KB
• amcx-20240331_def.xml (EX-101.DEF) — 290KB
• amcx-20240331_lab.xml (EX-101.LAB) — 617KB
• amcx-20240331_pre.xml (EX-101.PRE) — 458KB
• amcx-20240331_htm.xml (XML) — 1184KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Exhibits

Item 6. Exhibits 36

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AMC NETWORKS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 690,522 $ 570,576 Accounts receivable, trade (less allowance for doubtful accounts of $ 9,627 and $ 9,488 ) 629,073 664,396 Current portion of program rights, net 13,881 7,880 Prepaid expenses and other current assets 316,925 380,518 Total current assets 1,650,401 1,623,370 Property and equipment, net of accumulated depreciation of $ 418,046 and $ 403,708 147,972 159,237 Program rights, net 1,753,270 1,802,653 Intangible assets, net 258,913 268,558 Goodwill 622,190 626,496 Deferred tax assets, net 11,748 11,456 Operating lease right-of-use assets 68,786 71,163 Other assets 398,276 406,854 Total assets $ 4,911,556 $ 4,969,787 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 90,594 $ 89,469 Accrued liabilities 351,280 385,838 Current portion of program rights obligations 286,870 301,221 Deferred revenue 61,252 65,736 Current portion of long-term debt 67,500 67,500 Current portion of lease obligations 32,773 33,659 Total current liabilities 890,269 943,423 Program rights obligations 133,119 150,943 Long-term debt, net 2,279,086 2,294,249 Lease obligations 82,269 87,240 Deferred tax liabilities, net 156,858 160,383 Other liabilities 65,680 74,306 Total liabilities 3,607,281 3,710,544 Commitments and contingencies Redeemable noncontrolling interests 197,370 185,297 Stockholders' equity: Class A Common Stock, $ 0.01 par value, 360,000 shares authorized, 66,730 and 66,670 shares issued and 32,559 and 32,077 shares outstanding, respectively 667 667 Class B Common Stock, $ 0.01 par value, 90,000 shares authorized, 11,484 shares issued and outstanding 115 115 Preferred stock, $ 0.01 par value, 45,000 shares authorized; none issued — — Paid-in capital 369,877 378,87

View Full Filing

View this 10-Q filing on SEC EDGAR