Segment Information

12 Months Ended

Dec. 31, 2012

Segment Information [Abstract]

Segment Information

NOTE 14

Segment Information

The Company reports financial data for two reportable segments: television and radio. The television reportable segment includes the operations of the Company’s 20 owned and operated network-affiliated television stations (including a 50%-owned station) and internet business. The radio reportable segment includes the operations of the Company’s three Seattle radio stations and one managed radio station. The Fisher Plaza reportable segment included the operations of a communications center located near downtown Seattle that serves as home of the Company’s Seattle television, radio and internet operations and its corporate headquarters and third-party tenants. In December 2011, the Company completed the sale of Fisher Plaza and its corporate headquarters and Seattle television, radio and internet operations continue to be located at Fisher Plaza, pursuant to a leaseback transaction.

The Company discloses information about its reportable segments based on measures it uses in assessing the performance of its reportable segments. The Company uses “segment income from continuing operations” to measure the operating performance of its segments which represents income from continuing operations before depreciation and amortization, gain on sale of real estate, net, gain on sale of Fisher Plaza, net, Plaza fire reimbursements, net, and gain on exchange of assets, net. Additionally, the performance metric for segment income from continuing operations excludes the allocation of certain corporate expenses and rent expense related to Fisher Plaza.

The non-segment expenses include corporate and administrative expenses that have not been allocated to the operations of the television or radio segments.

Operating results and other financial data for each segment are as follows:

	Year Ended December 31,
(dollars in thousands)	2012			2011			2010
Revenue
Television	$	147,344		$	128,548		$	136,397
Radio		20,993			21,356			23,759
Fisher Plaza		—			14,289			14,400
Total segment revenue		168,337			164,193			174,556
Intercompany and other		(133	)		(225	)		(154	)
	$	168,204		$	163,968		$	174,402
Segment income from continuing operations
Television	$	47,804		$	31,498		$	36,285
Radio		5,400			4,803			4,620
Fisher Plaza		—			8,268			7,928
Total segment income from continuing operations		53,204			44,569			48,833
Corporate and other		(18,452	)		(17,044	)		(14,564	)
Fisher Plaza rent		(5,160	)		(133	)		—
	$	29,592		$	27,392		$	34,269
Depreciation and amortization
Television	$	5,961		$	4,827		$	7,666
Radio		120			94			241
Fisher Plaza		—			3,611			4,947
Total segment depreciation and amortization		6,081			8,532			12,854
Corporate and other		909			1,032			1,538
	$	6,990		$	9,564		$	14,392
Total assets
Television	$	113,998		$	122,357
Radio		15,016			13,435
Fisher Plaza		—			377
Total segment assets		129,014			136,169
Corporate and other		52,010			208,948
	$	181,024		$	345,117
Goodwill, net
Television	$	5,077		$	5,077
Radio		8,216			8,216
	$	13,293		$	13,293
Capital expenditures
Television	$	6,927		$	5,818		$	6,923
Radio		935			166			128
Fisher Plaza		—			148			2,217
Total segment capital expenditures		7,862			6,132			9,268
Corporate and other		1,041			2,003			722
	$	8,903		$	8,135		$	9,990

Intercompany revenue related primarily to sales between the Company’s television and radio stations.

No geographic areas outside the United States were significant relative to consolidated revenue, income from operations or total assets.

A reconciliation of total segment income from continuing operations to consolidated income from continuing operations is as follows (dollars in thousands):

	Year Ended December 31,
	2012			2011			2010
Segment income from continuing operations	$	29,592		$	27,392		$	34,269
Adjustments:
Gain on sale of real estate, net		164			4,089			—
Gain on sale of Fisher Plaza, net		—			40,454			—
Plaza fire reimbursements, net		—			223			3,363
Gain on exchange of assets, net		—			32			2,054
Depreciation and amortization		(6,990	)		(9,564	)		(14,392	)
Income from continuing operations	$	22,766		$	62,626		$	25,294