{"url_path":"/sec/amcx/10-q/2026/item-3","section_key":"item-3","section_title":"Item 3 Quantitative and Qualitative Disclosures About Market Risk.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1514991/0001514991-26-000061-index.html","accession_number":"0001514991-26-000061","cik":"0001514991","ticker":"AMCX","issuer_name":"AMC Global Media Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1514991/0001514991-26-000061-index.html","primary_entity_key":"0001514991","primary_entity_name":"AMC Global Media Inc."},"word_count":541,"has_tables":true,"body_markdown":"Item 3.    Quantitative and Qualitative Disclosures About Market Risk.\n\nFair Value of Debt\n\nBased on the level of interest rates prevailing at March 31, 2026, the carrying value of our fixed rate debt of $1.67 billion was less than its fair value of $1.68 billion by $6.7 million. The fair value of these financial instruments is estimated based on reference to quoted market prices for these or comparable securities. A hypothetical 100 basis point decrease in interest rates prevailing at March 31, 2026 would increase the estimated fair value of our fixed rate debt by $69.7 million.\n\nManaging our Interest Rate Risk\n\nAs of March 31, 2026, we had $1.8 billion of debt outstanding (excluding finance leases), of which $80.0 million is outstanding under our loan facility and is subject to variable interest rates. A hypothetical 100 basis point increase in interest rates prevailing at March 31, 2026 would increase our annual interest expense by $0.8 million. The interest rate paid on approximately 96% of our debt (excluding finance leases) as of March 31, 2026 is fixed.\n\nManaging our Foreign Currency Exchange Rate Risk\n\nWe are exposed to foreign currency risk to the extent that we enter into transactions denominated in currencies other than our subsidiaries' respective functional currencies (non-functional currency risk), such as affiliation agreements, programming contracts, certain trade receivables and accounts payable (including intercompany amounts) that are denominated in a currency other than the applicable functional currency. Changes in exchange rates with respect to amounts recorded in our condensed consolidated balance sheets related to these items will result in unrealized (based upon period-end exchange rates) or realized foreign currency transaction gains and losses upon settlement of the transactions. Moreover, to the extent that our revenue, costs and expenses are denominated in currencies other than our respective functional currencies, we will experience fluctuations in our revenue, costs and expenses solely as a result of changes in foreign currency exchange rates.\n\nTo manage foreign currency exchange rate risk, we enter into foreign currency contracts from time to time with financial institutions to limit our exposure to fluctuations in foreign currency exchange rates. We do not enter into foreign currency contracts for speculative or trading purposes.\n\nThe Company recognized foreign currency transaction gains (losses) of $(3.8) million and $3.8 million for the three months ended March 31, 2026 and 2025, respectively, related to foreign currency transactions. Such amounts are included in miscellaneous, net in the condensed consolidated statements of income (loss).\n\nWe also are exposed to fluctuations of the U.S. dollar (our reporting currency) against the currencies of our operating subsidiaries when their respective financial statements are translated into U.S. dollars for inclusion in our condensed consolidated financial statements. Cumulative translation adjustments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Any increase (decrease) in the value of the U.S. dollar against any foreign currency that is the functional currency of one of our operating subsidiaries will cause us to experience unrealized foreign currency translation losses (gains) with respect to amounts already invested in such foreign currencies. Accordingly, we may experience a negative impact on our comprehensive income (loss) and equity with respect to our holdings solely as a result of changes in foreign currency exchange rates."}