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Segment Information
6 Months Ended
Jun. 30, 2023
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)Six Months Ended June 30, 2023
Domestic OperationsInternational
and Other
Corporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$681,284 $113,970 $— $795,254 
Content licensing and other184,177 54,518 (4,974)233,721 
   Distribution and other865,461 168,488 (4,974)1,028,975 
   Advertising328,212 38,888 — 367,100 
Consolidated revenues, net$1,193,673 $207,376 $(4,974)$1,396,075 
Operating income (loss)$362,018 $2,437 $(85,450)$279,005 
Share-based compensation expenses6,639 1,685 4,969 13,293 
Depreciation and amortization23,517 9,673 18,430 51,620 
Impairment and other charges— 24,882 — 24,882 
Restructuring and other related charges 4,723 1,646 5,605 11,974 
Cloud computing amortization10 — 4,469 4,479 
Majority-owned equity investees AOI7,287 — — 7,287 
Adjusted operating income (loss)$404,194 $40,323 $(51,977)$392,540 

(In thousands)Six Months Ended June 30, 2022
Domestic OperationsInternational
and Other
Corporate / Inter-segment
Eliminations
Consolidated
Revenues, net
Subscription$690,772 $117,114 $— $807,886 
Content licensing and other133,680 74,389 (12,085)195,984 
   Distribution and other824,452 191,503 (12,085)1,003,870 
   Advertising402,193 44,119 — 446,312 
Consolidated revenues, net$1,226,645 $235,622 $(12,085)$1,450,182 
Operating income (loss)$387,334 $31,442 $(90,896)$327,880 
Share-based compensation expenses6,845 1,221 8,746 16,812 
Depreciation and amortization25,575 9,536 14,710 49,821 
Cloud computing amortization12 — 3,259 3,271 
Majority-owned equity investees AOI8,942 — — 8,942 
Adjusted operating income (loss)$428,708 $42,199 $(64,181)$406,726 
Subscription revenues in the Domestic Operations segment include revenues related to the Company's streaming services of $137.4 million and $122.1 million for the three months ended June 30, 2023 and 2022, respectively, and $278.3 million and $231.7 million for the six months ended June 30, 2023 and 2022, respectively.
Corporate overhead costs not allocated to the segments include costs such as executive salaries and benefits and costs of maintaining corporate headquarters, facilities and common support functions.
Inter-segment eliminations are primarily licensing revenues recognized between the Domestic Operations and International and Other segments.
(In thousands)Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Inter-segment revenues
Domestic Operations$(2,412)$(7,442)$(4,626)$(10,444)
International and Other(83)(1,406)(348)(1,641)
$(2,495)$(8,848)$(4,974)$(12,085)

The table below summarizes revenues based on customer location:
(In thousands)Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Revenues
United States$551,637 $600,226 $1,157,865 $1,191,434 
Europe83,718 97,146 157,485 180,071 
Other43,273 40,653 80,725 78,677 
$678,628 $738,025 $1,396,075 $1,450,182 
One customer within the Domestic Operations segment accounted for approximately 13% of consolidated revenues, net for the three and six months ended June 30, 2023. For the three and six months ended June 30, 2022, no customer accounted for 10% or more of consolidated revenues, net.
The table below summarizes property and equipment based on asset location:
(In thousands)June 30, 2023December 31, 2022
Property and equipment, net
United States$173,096 $187,833 
Europe11,973 12,520 
Other1,413 1,681 
$186,482 $202,034