EX-99.1 2 a16-5423_1ex99d1.htm EX-99.1

Exhibit 99.1

 

JP Morgan Leveraged Finance Conference March 2016 Exhibit 99.1

 


(1) Refer to Reconciling Schedules Page 2 Starz Consolidated Original programming fully funded from cash generated from operating activities Low capex requirements Free cash flow used to maintain debt ratios and share repurchases Free cash flow (1) (in millions)

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$65 million capital leases $308 million drawn on revolving credit facility $677 million 5% senior unsecured notes due 2019 (3) $1,038 M 71% fixed 29% floating As of December 31, 2015 Includes $11.9M of debt issuance costs Includes $2M million bond premium Debt (2) – 2.2x Levered, Target 2.5x Cash / Availability (in millions) $703 M $1,000 million revolving credit facility; $692 million available $11 million cash Page 3 Consolidated debt and liquidity (1) (in millions)

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Leverage and interest coverage ratios Page 4 Leverage Ratio Interest Coverage Ratio Leverage increased and interest coverage decreased Y/Y in 2013 as a result of Starz becoming a separately traded public company 2.5x leverage target N/A

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Reconciling schedules (continued) Schedule 1 Note: The information shown above provides a reconciliation of Adjusted OIBDA to operating income and free cash flow to net cash provided by operating activities calculated in accordance with GAAP for periods reflected. Page 5 ($ in millions) 2011 2012 2013 2014 2015 Consolidated Starz Adjusted OIBDA 450 $ 445 $ 477 $ 502 $ 462 $ Stock compensation (7) (20) (34) (31) (33) Depreciation and amortization (18) (19) (17) (19) (19) Operating income 425 $ 405 $ 425 $ 452 $ 410 $ ($ in millions) 2011 2012 2013 2014 2015 Starz Networks Adjusted OIBDA 428 $ 447 $ 456 $ 496 $ 429 $ Stock compensation (7) (19) (32) (27) (30) Depreciation and amortization (13) (13) (13) (15) (16) Operating income 408 $ 415 $ 411 $ 454 $ 383 $ ($ in millions) 2011 2012 2013 2014 2015 Consolidated Starz Free cash flow 285 $ 276 $ 298 $ 195 $ 233 $ Capital expenditures 8 16 15 11 17 Tax benefit of stock appreciation rights (payment to Company founder) 55 - - - - Net cash provided by operating activities 348 $ 292 $ 313 $ 207 $ 251 $ ($ in millions) 2015 Starz Reconciliation by Segment Starz Networks Starz Distribution Starz Animation Other Total Adjusted OIBDA 429 $ 36 $ (2) $ (2) $ 462 $ Stock compensation (30) (2) - (1) (33) Depreciation and amortization (16) (2) - (2) (19) Operating income 383 $ 32 $ (2) $ (4) $ 410 $

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