AMC Networks Earnings 2020-09-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

amcx-20200930

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☑			Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2020


☐			Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission File Number: 1-35106

AMC Networks Inc.

(Exact name of registrant as specified in its charter)


Delaware		27-5403694
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

11 Penn Plaza,
New York,	NY	10001
(Address of principal executive offices)		(Zip Code)

(212) 324-8500

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share

AMCX

The

NASDAQ

Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company (as defined in Exchange Act Rule 12b-2).


Large accelerated filer	þ	Accelerated filer	¨

Non-accelerated filer	¨	Smaller reporting company	☐

		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ

The number of shares of common stock outstanding as of October 23, 2020:


Class A Common Stock par value $0.01 per share			29,754,780
Class B Common Stock par value $0.01 per share			11,484,408

AMC NETWORKS INC. AND SUBSIDIARIES

FORM 10-Q

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)


	September 30, 2020		December 31, 2019
ASSETS
Current Assets:
Cash and cash equivalents	$	1,071,860	$	816,170
Accounts receivable, trade (less allowance for doubtful accounts of $9,345 and $5,733)	768,506		857,143
Current portion of program rights, net	17,933		426,624
Prepaid expenses and other current assets	174,682		230,360
Total current assets	2,032,981		2,330,297
Property and equipment, net of accumulated depreciation of $254,312 and $347,302	255,729		283,752
Program rights, net	1,336,612		1,038,060
Intangible assets, net	417,778		524,531
Goodwill	673,810		701,980
Deferred tax asset, net	39,778		51,545
Operating lease right-of-use asset	151,801		170,056
Other assets	477,938		496,465
Total assets	$	5,386,427	$	5,596,686
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	80,967	$	94,306
Accrued liabilities	281,023		251,214
Current portion of program rights obligations	302,061		304,692
Deferred revenue	61,557		63,921
Current portion of long-term debt	76,000		56,250
Current portion of lease obligations	33,519		33,959
Total current liabilities	835,127		804,342
Program rights obligations	198,197		239,813
Long-term debt	2,791,091		3,039,979
Lease obligations	209,549		211,047
Deferred tax liability, net	135,476		136,911
Other liabilities	130,244		163,638
Total liabilities	4,299,684		4,595,730
Commitments and contingencies
Redeemable noncontrolling interests	314,397		309,451
Stockholders' equity:
Class A Common Stock, $0.01 par value, 360,000 shares authorized, 63,348 and 63,886 shares issued and 40,557 and 44,078 shares outstanding, respectively	643		639
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	320,681		286,491
Accumulated earnings	1,752,740		1,609,428
Treasury stock, at cost (23,790 and 19,808 shares Class A Common Stock, respectively)	(1,166,119)		(1,063,181)
Accumulated other comprehensive loss	(160,457)		(167,711)
Total AMC Networks stockholders' equity	747,603		665,781
Non-redeemable noncontrolling interests	24,743		25,724
Total stockholders' equity	772,346		691,505
Total liabilities and stockholders' equity	$	5,386,427	$	5,596,686

See accompanying notes to condensed consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

(unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenues, net	$	654,015	$	718,597	$	2,034,681	$	2,275,117
Operating expenses:
Technical and operating (excluding depreciation and amortization)	333,816		354,992		960,379		1,080,763
Selling, general and administrative	148,769		159,357		488,581		505,233
Depreciation and amortization	27,547		25,619		80,182		75,568
Impairment charges	—		—		130,411		—
Restructuring and other related charges	4,406		10,191		13,879		29,995
Total operating expenses	514,538		550,159		1,673,432		1,691,559
Operating income	139,477		168,438		361,249		583,558
Other income (expense):
Interest expense	(33,418)		(39,621)		(105,283)		(118,982)
Interest income	2,994		4,626		11,276		13,571
Loss on extinguishment of debt	—		—		(2,908)		—
Miscellaneous, net	11,138		(1,490)		(10,088)		(16,972)
Total other (expense) income	(19,286)		(36,485)		(107,003)		(122,383)
Income from operations before income taxes	120,191		131,953		254,246		461,175
Income tax expense	(52,195)		(8,727)		(95,490)		(53,807)
Net income including noncontrolling interests	67,996		123,226		158,756		407,368
Net income attributable to noncontrolling interests	(6,356)		(6,303)		(13,488)		(18,305)
Net income attributable to AMC Networks' stockholders	$	61,640	$	116,923	$	145,268	$	389,063

Net income per share attributable to AMC Networks' stockholders:
Basic	$	1.18	$	2.09	$	2.72	$	6.91
Diluted	$	1.17	$	2.07	$	2.69	$	6.80

Weighted average common shares:
Basic	52,346		55,847		53,374		56,339
Diluted	52,904		56,605		53,917		57,218

See accompanying notes to condensed consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

(unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net income including noncontrolling interests	$	67,996	$	123,226	$	158,756	$	407,368
Other comprehensive income (loss):
Foreign currency translation adjustment	21,475		(33,281)		7,383		(38,490)
Unrealized gain (loss) on interest rate swaps	615		(187)		(1,041)		(2,076)
Other comprehensive income (loss), before income taxes	22,090		(33,468)		6,342		(40,566)
Income tax (expense) benefit	(144)		335		242		483
Other comprehensive income (loss), net of income taxes	21,946		(33,133)		6,584		(40,083)
Comprehensive income	89,942		90,093		165,340		367,285
Comprehensive income attributable to noncontrolling interests	(6,648)		(5,217)		(12,818)		(17,048)
Comprehensive income attributable to AMC Networks' stockholders	$	83,294	$	84,876	$	152,522	$	350,237

See accompanying notes to condensed consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(in thousands)

(unaudited)


	Class A Common Stock		Class B Common Stock		Paid-in Capital		Accumulated Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		AMC Networks Stockholders’ Equity		Noncontrolling Interests		Total Stockholders' Equity
Balance, June 30, 2020	$	643	$	115	$	308,288	$	1,691,100	$	(1,166,119)	$	(182,111)	$	651,916	$	23,229	$	675,145
Net income attributable to AMC Networks’ stockholders	—		—		—		61,640		—		—		61,640		—		61,640
Net income attributable to non-redeemable noncontrolling interests	—		—		—		—		—		—		—		1,785		1,785

Distributions to noncontrolling member	—		—		—		—		—		—		—		(563)		(563)

Other comprehensive income	—		—		—		—		—		21,654		21,654		292		21,946
Share-based compensation expense	—		—		12,393		—		—		—		12,393		—		12,393




Balance, September 30, 2020	$	643	$	115	$	320,681	$	1,752,740	$	(1,166,119)	$	(160,457)	$	747,603	$	24,743	$	772,346


	Class A Common Stock		Class B Common Stock		Paid-in Capital		Accumulated Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		AMC Networks Stockholders’ Equity		Noncontrolling Interests		Total Stockholders' Equity
















Balance, December 31, 2019	$	639	$	115	$	286,491	$	1,609,428	$	(1,063,181)	$	(167,711)	$	665,781	$	25,724	$	691,505
Net income attributable to AMC Networks’ stockholders	—		—		—		145,268		—		—		145,268		—		145,268
Net income attributable to non-redeemable noncontrolling interests	—		—		—		—		—		—		—		700		700
Adoption of ASU 2016-13, credit losses	—		—		—		(1,956)		—		—		(1,956)		—		(1,956)
Distributions to noncontrolling member	—		—		—		—		—		—		—		(1,011)		(1,011)

Other comprehensive income (loss)	—		—		—		—		—		7,254		7,254		(670)		6,584
Share-based compensation expense	—		—		43,141		—		—		—		43,141		—		43,141


Treasury stock acquired	—		—		—		—		(102,938)		—		(102,938)		—		(102,938)
Restricted stock units converted to shares	4		—		(8,951)		—		—		—		(8,947)		—		(8,947)
Balance, September 30, 2020	$	643	$	115	$	320,681	$	1,752,740	$	(1,166,119)	$	(160,457)	$	747,603	$	24,743	$	772,346

See accompanying notes to consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(in thousands)

(unaudited)


	Class A Common Stock		Class B Common Stock		Paid-in Capital		Accumulated Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		AMC Networks Stockholders’ Equity		Noncontrolling Interests		Total Stockholders' Equity
Balance, June 30, 2019	$	639	$	115	$	258,150	$	1,501,082	$	(1,051,022)	$	(167,144)	$	541,820	$	26,693	$	568,513
Net income attributable to AMC Networks’ stockholders	—		—		—		116,923		—		—		116,923		—		116,923
Net income attributable to non-redeemable noncontrolling interests	—		—		—		—		—		—		—		1,772		1,772
Distributions to noncontrolling member	—		—		—		—		—		—		—		(705)		(705)



Settlement of treasury stock	—		—		832		—		—		—		832		—		832
Other comprehensive loss	—		—		—		—		—		(33,133)		(33,133)		(1,085)		(34,218)

Share-based compensation expense	—		—		13,841		—		—		—		13,841		—		13,841
Treasury stock acquired	—		—		—		—		(12,159)		—		(12,159)		—		(12,159)

Balance, September 30, 2019	$	639	$	115	$	272,823	$	1,618,005	$	(1,063,181)	$	(200,277)	$	628,124	$	26,675	$	654,799


	Class A Common Stock		Class B Common Stock		Paid-in Capital		Accumulated Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		AMC Networks Stockholders’ Equity		Noncontrolling Interests		Total Stockholders' Equity
Balance, December 31, 2018	$	633	$	115	$	239,767	$	1,228,942	$	(992,583)	$	(160,194)	$	316,680	$	28,528	$	345,208
Net income attributable to AMC Networks’ stockholders	—		—		—		389,063		—		—		389,063		—		389,063
Net income attributable to non-redeemable noncontrolling interests	—		—		—		—		—		—		—		2,842		2,842
Distributions to noncontrolling member	—		—		—		—		—		—		—		(3,439)		(3,439)



Other comprehensive loss	—		—		—		—		—		(40,083)		(40,083)		(1,256)		(41,339)
Share-based compensation expense	—		—		50,465		—		—		—		50,465		—		50,465
Proceeds from the exercise of stock options	—		—		4,630		—		—		—		4,630		—		4,630
Treasury stock acquired	—		—		985		—		(70,598)		—		(69,613)		—		(69,613)
Restricted stock units converted to shares	6		—		(23,024)		—		—		—		(23,018)		—		(23,018)
Balance, September 30, 2019	$	639	$	115	$	272,823	$	1,618,005	$	(1,063,181)	$	(200,277)	$	628,124	$	26,675	$	654,799

See accompanying notes to consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)


	Nine Months Ended September 30,
	2020		2019
Cash flows from operating activities:
Net income including noncontrolling interests	$	158,756	$	407,368
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	80,182		75,568
Impairment charges	130,411		—
Share-based compensation expense related to equity classified awards	43,141		50,465
Non-cash restructuring and other related charges	6,126		14,026
Amortization and write-off of program rights	622,204		696,326
Amortization of deferred carriage fees	21,088		14,624
Unrealized foreign currency transaction loss	9,242		489
Amortization of deferred financing costs and discounts on indebtedness	6,039		5,970
Loss on extinguishment of debt	2,908		—
Bad debt expense	340		3,628
Deferred income taxes	12,403		(65,245)
Write-down of non-marketable equity securities and note receivable	5,103		20,206
Other, net	(10,696)		(8,481)
Changes in assets and liabilities:
Accounts receivable, trade (including amounts due from related parties, net)	92,328		6,993
Prepaid expenses and other assets	79,098		(121,375)
Program rights and obligations, net	(565,267)		(676,718)
Income taxes payable	17,265		3,101
Deferred revenue	(2,234)		10,395
Deferred carriage fees, net	(15,057)		(14,409)
Accounts payable, accrued liabilities and other liabilities	(49,293)		(22,534)
Net cash provided by operating activities	644,087		400,397
Cash flows from investing activities:
Capital expenditures	(34,990)		(69,096)
Return of capital from investees	924		9,232
Acquisition of investment securities	(4,111)		—
Principal payment received on loan to investee	3,750		—
Proceeds from sale of investments	10,000		—
Net cash used in investing activities	(24,427)		(59,864)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	6,000		1,521
Principal payments on long-term debt	(242,500)		(12,613)
Deemed repurchases of restricted stock units	(8,947)		(23,019)
Purchase of treasury stock	(102,938)		(70,598)
Proceeds from stock option exercises	—		4,630
Principal payments on finance lease obligations	(2,404)		(4,059)
Distributions to noncontrolling interests	(13,955)		(13,545)
Net cash used in financing activities	(364,744)		(117,683)
Net increase in cash and cash equivalents	254,916		222,850
Effect of exchange rate changes on cash and cash equivalents	774		(4,350)
Cash and cash equivalents at beginning of period	816,170		554,886
Cash and cash equivalents at end of period	$	1,071,860	$	773,386

See accompanying notes to condensed consolidated financial statements.

AMC NETWORKS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Note 1. Description of Business and Basis of Presentation

Description of Business

AMC Networks Inc. ("AMC Networks") and its subsidiaries (collectively referred to as the "Company") own and operate entertainment businesses and assets. The Company is comprised of two operating segments:

•National Networks: Includes activities of our five national programming networks, AMC Studios operations and AMC Broadcasting & Technology. Our national programming networks are AMC, WE tv, BBC AMERICA, IFC and SundanceTV and also include our AMC Premiere service. Our AMC Studios operations produces original programming for our programming networks and also licenses such program rights worldwide. AMC Networks Broadcasting & Technology is our technical services business, which primarily services most of the national programming networks.

•International and Other: Includes AMC Networks International ("AMCNI"), our international programming businesses consisting of a portfolio of channels around the world; AMC Networks SVOD, consisting of our targeted subscription streaming services (Acorn TV, Shudder, Sundance Now, UMC), AMC+ and other subscription video on demand ("SVOD") initiatives; Levity, our production services and comedy venues business; and IFC Films, our independent film distribution business.

Basis of Presentation

Principles of Consolidation

The consolidated financial statements include the accounts of AMC Networks and its subsidiaries in which a controlling voting 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, 2019 contained in the Company's Annual Report on Form 10-K ("2019 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, 2020.

Risks and Uncertainties

In March 2020, the World Health Organization characterized the novel coronavirus ("COVID-19") a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The rapid spread of the pandemic and the continuously evolving responses to combat it have had a negative impact on the global economy.

The impact of COVID-19 and measures to prevent its spread are affecting our businesses in a number of ways. Beginning in mid-March, the Company has experienced adverse advertising sales impacts, suspended content production, which has led to delays in the creation and availability of substantially all of its programming, and the temporary closure of its comedy venues. In the third quarter of 2020, the Company commenced production activities, however substantially all Company employees continue to work remotely, and the Company continues to restrict business travel. If significant portions of our workforce, including key personnel, are unable to work effectively because of illness, government actions or other restrictions in connection with the COVID-19 pandemic, the impact of the pandemic on our businesses could be exacerbated.

The Company has evaluated and continues to evaluate the potential impact of the COVID-19 pandemic on its consolidated financial statements, including the impairment of goodwill (see Note 7) and indefinite-lived intangible assets and the fair value and collectability of receivables. The COVID-19 pandemic has had a material impact on the Company's operations since mid-March 2020. The Company cannot reasonably predict the ultimate impact of the COVID-19 pandemic, including the extent of any adverse impact on our business, results of operations and financial condition, which will depend on, among other things, the duration and spread of the pandemic, the impact of governmental regulations that have been, and may

AMC NETWORKS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(unaudited)

continue to be, imposed in response to the pandemic, the effectiveness of actions taken to contain or mitigate the outbreak, the availability, safety and efficacy of a vaccine, and global economic conditions. The Company does not expect the COVID-19 pandemic and its related economic impact to affect its liquidity position or its ongoing ability to meet the covenants in its debt instruments.

Use of Estimates

The preparation of financial statements in conformity with 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.

Recently Adopted Accounting Standards

Effective January 1, 2020, the Company adopted Financial Accounting Standard Board (“FASB”) Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments, which changed the impairment model for most financial assets and certain other instruments, including trade and other receivables, held-to-maturity debt securities and loans, and requires entities to use a new forward-looking "expected loss" model that would generally result in the earlier recognition of allowances for losses. The Company adopted the standard using the modified retrospective approach and recorded a decrease to opening retained earnings of $

Price	48.14	EPS	8
Shares	57	P/E	6
MCap	2,754	P/FCF	7
Net Debt	2,368	EBIT	657
TEV	5,123	TEV/EBIT	8
TTM 2019-09-30, in MM, except price, ratios

10-Q	2020-09-30	Filed 2020-11-02
10-Q	2020-06-30	Filed 2020-08-05
10-Q	2020-03-31	Filed 2020-05-05
10-K	2019-12-31	Filed 2020-02-27
10-Q	2019-09-30	Filed 2019-10-31
10-Q	2019-06-30	Filed 2019-07-31
10-Q	2019-03-31	Filed 2019-05-01
10-K	2018-12-31	Filed 2019-03-01
10-Q	2018-09-30	Filed 2018-11-01
10-Q	2018-06-30	Filed 2018-08-02
10-Q	2018-03-31	Filed 2018-05-10
10-K	2017-12-31	Filed 2018-03-01
10-Q	2017-09-30	Filed 2017-11-02
10-Q	2017-06-30	Filed 2017-08-03
10-Q	2017-03-31	Filed 2017-05-04
10-K	2016-12-31	Filed 2017-02-24
10-Q	2016-09-30	Filed 2016-11-03
10-Q	2016-06-30	Filed 2016-08-04
10-Q	2016-03-31	Filed 2016-05-05
10-K	2015-12-31	Filed 2016-02-25
10-Q	2015-09-30	Filed 2015-11-05
10-Q	2015-06-30	Filed 2015-08-06
10-Q	2015-03-31	Filed 2015-05-04
10-K	2014-12-31	Filed 2015-02-26
10-Q	2014-09-30	Filed 2014-11-06
10-Q	2014-06-30	Filed 2014-08-07
10-Q	2014-03-31	Filed 2014-05-08
10-K	2013-12-31	Filed 2014-02-27
10-Q	2013-09-30	Filed 2013-11-07
10-Q	2013-06-30	Filed 2013-08-08
10-Q	2013-03-31	Filed 2013-05-09
10-Q	2012-09-30	Filed 2012-11-08
10-Q	2012-06-30	Filed 2012-08-09
10-Q	2012-03-31	Filed 2012-05-10
10-K	2011-12-31	Filed 2012-03-15
10-Q	2011-09-30	Filed 2011-11-10
10-Q	2011-06-30	Filed 2011-08-11

8-K	2020-11-18	Exit Costs
8-K	2020-11-02	Earnings, Exhibits
8-K	2020-10-16	Officers, Exhibits
8-K	2020-09-10	Officers, Other Events, Exhibits
8-K	2020-08-04	Earnings, Exhibits
8-K	2020-07-02	Officers
8-K	2020-06-17
8-K	2020-05-05
8-K	2020-03-27
8-K	2020-02-26
8-K	2019-10-31
8-K	2019-07-31
8-K	2019-06-14
8-K	2019-05-01
8-K	2019-02-28
8-K	2018-11-01
8-K	2018-10-12
8-K	2018-08-02
8-K	2018-07-29
8-K	2018-06-14
8-K	2018-06-13
8-K	2018-05-10
8-K	2018-03-01
8-K	2018-02-26

EX-22	amcx-9302020xex22.htm
EX-31.1	amcx-9302020xex311.htm
EX-31.2	amcx-9302020xex312.htm
EX-32	amcx-9302020xex32.htm


			Page
PART I. FINANCIAL INFORMATION
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			6
Notes to Condensed Consolidated Financial Statements			7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			25
Item 3. Quantitative and Qualitative Disclosures About Market Risk			46
Item 4. Controls and Procedures			47
PART II. OTHER INFORMATION
Item 1. Legal Proceedings			48
Item 1A. Risk Factors			48
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			48
Item 6. Exhibits			49
SIGNATURES			50

AMCX 10Q Quarterly Report

AMC Networks Earnings 2020-09-30