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Segment Information (Tables)

9 Months Ended

Sep. 30, 2021


(In thousands)	Three Months Ended September 30, 2021
	Domestic Operations		International and Other		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Advertising	$	199,982	$	25,354	$	—	$	225,336
Distribution and other	482,764		104,586		(1,920)		585,430
Consolidated revenues, net	$	682,746	$	129,940	$	(1,920)	$	810,766
Operating income (loss)	$	213,299	$	15,564	$	(40,537)	$	188,326
Share-based compensation expense	4,174		545		4,736		9,455
Depreciation and amortization	11,589		5,200		6,622		23,411

Restructuring and other related charges	(135)		800		89		754
Cloud computing amortization	—		—		596		596
Majority-owned equity investees AOI	2,149		—		—		2,149
Adjusted operating income (loss)	$	231,076	$	22,109	$	(28,494)	$	224,691


(In thousands)	Three Months Ended September 30, 2020
	Domestic Operations		International and Other		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Advertising	$	164,178	$	18,924	$	—	183,102
Distribution and other	382,687		92,474		(4,248)		470,913
Consolidated revenues, net	$	546,865	$	111,398	$	(4,248)	$	654,015
Operating income (loss)	$	179,259	$	3,061	$	(42,843)	139,477
Share-based compensation expense	4,437		919		7,038		12,394
Depreciation and amortization	15,799		4,937		6,811		27,547
Restructuring and other related charges	4,452		—		(46)		4,406

Majority-owned equity investees AOI	1,667		—		—		1,667
Adjusted operating income (loss)	$	205,614	$	8,917	$	(29,040)	$	185,491


(In thousands)	Nine Months Ended September 30, 2021
	Domestic Operations		International and Other		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Advertising	$	611,406	$	72,892	$	—	$	684,298
Distribution and other	1,284,324		316,492		(11,215)		1,589,601
Consolidated revenues, net	$	1,895,730	$	389,384	$	(11,215)	$	2,273,899
Operating income (loss)	$	517,874	$	32,365	$	(123,949)	$	426,290
Share-based compensation expense	17,105		2,689		19,369		39,163
Depreciation and amortization	36,678		14,477		20,106		71,261
Impairment and other charges	143,000		15,973		—		158,973
Restructuring and other related charges	2,508		5,273		1,753		9,534
Cloud computing amortization	—		—		1,502		1,502
Majority-owned equity investees AOI	6,584		—		—		6,584
Adjusted operating income (loss)	$	723,749	$	70,777	$	(81,219)	$	713,307


(In thousands)	Nine Months Ended September 30, 2020
	Domestic Operations		International and Other		Corporate / Inter-segment Eliminations		Consolidated
Revenues, net
Advertising	$	564,838	$	53,097	$	—	$	617,935
Distribution and other	1,156,852		273,811		(13,917)		1,416,746
Consolidated revenues, net	$	1,721,690	$	326,908	$	(13,917)	$	2,034,681
Operating income (loss)	$	621,446	$	(118,140)	$	(142,057)	$	361,249
Share-based compensation expense	12,005		2,437		28,699		43,141
Depreciation and amortization	38,050		21,396		20,736		80,182
Restructuring and other related charges	7,138		6,239		502		13,879
Impairment charges	—		130,411		—		130,411
Majority-owned equity investees AOI	4,361		—		—		4,361
Adjusted operating income (loss)	$	683,000	$	42,343	$	(92,120)	$	633,223

Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International and Other segments.


(In thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Inter-segment revenues
Domestic Operations	$	(1,641)	$	(3,988)	$	(8,567)	$	(11,545)
International and Other	(279)		(260)		(2,648)		(2,372)
	$	(1,920)	$	(4,248)	$	(11,215)	$	(13,917)

The table below summarizes revenues based on customer location:


(In thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Revenues
United States	$	655,427	$	497,677	$	1,844,901	$	1,646,065
Europe	93,869		110,448		295,460		274,763
Other	61,470		45,890		133,538		113,853
	$	810,766	$	654,015	$	2,273,899	$	2,034,681

The table below summarizes property and equipment based on asset location: