SEGMENT DATA

The Company’s reportable segments, which it believes best reflect how the Company is currently managed, are iHM, Americas outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at estimated fair value and eliminated in consolidation. The iHM segment provides media and entertainment services via broadcast and digital delivery and also includes the Company’s events and national syndication businesses. The Americas outdoor advertising segment consists of operations primarily in the United States, Canada and Latin America. The International outdoor advertising segment primarily includes operations in Europe and Asia. The Other category includes the Company’s media representation business as well as other general support services and initiatives that are ancillary to the Company’s other businesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance and administrative functions for each of the Company’s reportable segments, as well as overall executive, administrative and support functions. Share-based payments are recorded in corporate expense.

The following table presents the Company's reportable segment results for the three months ended March 31, 2017 and 2016:



(In thousands)	iHM		Americas Outdoor		International Outdoor			Other			Corporate and other reconciling items			Eliminations			Consolidated
Three Months Ended March 31, 2017
Revenue	$	757,173	$	279,420	$	265,306		$	29,271		$	—		$	(1,848	)	$	1,329,322
Direct operating expenses	243,331		140,473		187,458			—			—			—			571,262
Selling, general and administrative expenses	308,151		56,086		59,688			27,641			—			(947		)	450,619
Corporate expenses	—		—		—			—			79,263			(901		)	78,362
Depreciation and amortization	58,037		45,295		30,673			3,369			8,732			—			146,106
Other operating income, net	—		—		—			—			31,084			—			31,084
Operating income (loss)	$	147,654	$	37,566	$	(12,513	)	$	(1,739	)	$	(56,911	)	$	—		$	114,057
Intersegment revenues	$	—	$	1,848	$	—		$	—		$	—		$	—		$	1,848
Capital expenditures	$	13,237	$	14,104	$	21,824		$	63		$	1,799		$	—		$	51,027
Share-based compensation expense	$	—	$	—	$	—		$	—		$	3,059		$	—		$	3,059

Three Months Ended March 31, 2016
Revenue	$	738,886	$	282,528	$	306,486		$	34,183		$	—		$	(285	)	$	1,361,798
Direct operating expenses	224,062		138,012		203,975			615			—			—			566,664
Selling, general and administrative expenses	272,013		55,329		71,472			27,039			—			(285		)	425,568
Corporate expenses	—		—		—			—			77,859			—			77,859
Depreciation and amortization	58,817		46,116		37,880			3,616			9,027			—			155,456
Other operating income, net	—		—		—			—			284,463			—			284,463
Operating income (loss)	$	183,994	$	43,071	$	(6,841	)	$	2,913		$	197,577		$	—		$	420,714
Intersegment revenues	$	—	$	285	$	—		$	—		$	—		$	—		$	285
Capital expenditures	$	8,790	$	11,292	$	34,913		$	65		$	1,719		$	—		$	56,779
Share-based compensation expense	$	—	$	—	$	—		$	—		$	3,074		$	—		$	3,074