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Segment Information
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company classifies its operations into two operating segments: Domestic Operations and International and Other. These operating segments represent strategic business units that are managed separately.
The Company evaluates segment performance based on several factors, of which the primary financial measure is operating segment adjusted operating income ("AOI"). The Company defines AOI as operating income (loss) before depreciation and amortization, cloud computing amortization, share-based compensation expenses or benefit, impairment and other charges (including gains or losses on sales or dispositions of businesses), restructuring and other related charges and including the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees. The Company has presented the components that reconcile adjusted operating income to operating income, and other information as to the continuing operations of the Company's operating segments below.
(In thousands)Year Ended December 31, 2021
Domestic Operations
International
and Other
Corporate / Inter-segment
eliminations
Consolidated
Revenues, net
Subscription$1,318,732 $249,844 $— $1,568,576 
Content licensing and other416,898 155,805 (14,325)558,378 
Distribution and other1,735,630 405,649 (14,325)2,126,954 
Advertising844,986 105,668 — 950,654 
Consolidated revenues, net$2,580,616 $511,317 $(14,325)$3,077,608 
Operating income (loss)$617,875 $37,167 $(165,120)$489,922 
Share-based compensation expenses22,077 3,627 22,221 47,925 
Depreciation and amortization48,025 19,807 26,049 93,881 
Impairment and other charges143,000 16,610 — 159,610 
Restructuring and other related charges2,516 6,083 1,779 10,378 
Cloud computing amortization— — 2,406 2,406 
Majority-owned equity investees AOI11,948 — — 11,948 
Adjusted operating income$845,441 $83,294 $(112,665)$816,070 
Capital expenditures$9,635 $6,009 $26,928 $42,572 
(In thousands)Year Ended December 31, 2020
Domestic Operations
International
and Other
Corporate / Inter-segment
eliminations
Consolidated
Revenues, net
Subscription$1,145,970 $239,145 $— $1,385,115 
Content licensing and other433,954 139,746 (19,675)554,025 
Distribution and other1,579,924 378,891 (19,675)1,939,140 
Advertising801,477 74,339 — 875,816 
Consolidated revenues, net$2,381,401 $453,230 0$(19,675)$2,814,956 
Operating income (loss)$734,871 $(109,365)$(182,862)$442,644 
Share-based compensation expenses10,605 2,988 39,315 52,908 
Depreciation and amortization50,574 26,465 27,567 104,606 
Impairment and other charges— 122,227 — 122,227 
Restructuring and other related charges22,946 6,410 5,712 35,068 
Cloud computing amortization— — 200 200 
Majority-owned equity investees AOI8,958 — — 8,958 
Adjusted operating income$827,954 $48,725 $(110,068)$766,611 
Capital expenditures$12,301 $9,057 $25,237 $46,595 
(In thousands)Year Ended December 31, 2019
Domestic Operations
International
and Other
Corporate / Inter-segment
eliminations
Consolidated
Revenues, net
Subscription$1,137,358 $251,184 $— $1,388,542 
Content licensing and other521,639 187,073 (30,766)677,946 
Distribution and other1,658,997 438,257 (30,766)2,066,488 
Advertising904,253 89,659 (79)993,833 
Consolidated revenues, net$2,563,250 $527,916 0$(30,845)$3,060,321 
Operating income (loss)$884,054 $(83,948)$(174,829)$625,277 
Share-based compensation expenses26,153 4,545 33,435 64,133 
Depreciation and amortization41,299 34,983 24,816 101,098 
Impairment and other charges— 106,603 — 106,603 
Restructuring and other related charges28,860 5,153 6,901 40,914 
Majority-owned equity investees AOI5,965 — — 5,965 
Adjusted operating income$986,331 $67,336 $(109,677)$943,990 
Capital expenditures$37,150 $9,257 $45,197 $91,604 
Distribution revenues, included in the Domestic Operations segment, include subscription revenues related to the Company's streaming services of approximately $370.8 million, $185.6 million and $95.9 million for the years ended December 31, 2021, 2020 and 2019 respectively.
Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International and Other segments as well as revenues recognized by AMC Networks Broadcasting & Technology for transmission revenues recognized from the International and Other operating segment.
(In thousands)Years Ended December 31,
202120202019
Inter-segment revenues
Domestic Operations$(10,584)$(15,852)$(26,639)
International and Other(3,741)(3,823)(4,206)
$(14,325)$(19,675)$(30,845)
For the years ended December 31, 2021 and 2020, no one customer accounted for 10% of consolidated revenues, net. One customer within the Domestic Operations segment accounted for approximately 10% of consolidated revenues, net for the year ended December 31, 2019.
The table below summarizes revenue based on customer location:
Years Ended December 31,
(In thousands)202120202019
Revenue
United States$2,462,210 $2,267,754 $2,511,686 
Europe432,682 385,787 382,888 
Other182,716 161,415 165,747 
$3,077,608 $2,814,956 $3,060,321 
The table below summarizes property and equipment based on asset location:
Years Ended December 31,
(In thousands)20212020
Property and equipment, net
United States$210,252 $239,387 
Europe14,510 15,938 
Other1,029 720 
$225,791 $256,045