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Segment Information (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables set forth our financial performance by segment.
Three Months EndedNine Months Ended
September 30,September 30,
(in millions)2023202220232022
Revenues:
U.S. Media$428.7 $428.0 $1,248.1 $1,204.7 
Other26.1 25.7 71.3 72.7 
Total revenues$454.8 $453.7 $1,319.4 $1,277.4 
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income
Three Months EndedNine Months Ended
September 30,September 30,
(in millions)2023202220232022
Net income (loss) before allocation to non-controlling interests$16.7 $41.1 $(490.4)$89.6 
(Benefit) provision for income taxes1.4 (0.3)2.2 (1.2)
Equity in earnings of investee companies, net of tax0.2 (0.4)1.3 (1.9)
Interest expense, net40.2 33.6 117.6 95.9 
Other income (expense), net0.1 0.3 (0.1)0.3 
Operating income (loss)58.6 74.3 (369.4)182.7 
Net loss on dispositions— 0.2 0.2 0.1 
Impairment charges12.1 — 523.5 — 
Depreciation and amortization39.0 40.1 122.1 110.9 
Stock-based compensation7.2 8.6 22.9 25.0 
Total Adjusted OIBDA$116.9 $123.2 $299.3 $318.7 
Adjusted OIBDA:
U.S. Media$120.2 $128.2 $320.4 $337.5 
Other6.3 5.8 14.1 14.2 
Corporate(9.6)(10.8)(35.2)(33.0)
Total Adjusted OIBDA$116.9 $123.2 $299.3 $318.7 
Tabular Disclosure by Reportable Segments
Three Months EndedNine Months Ended
September 30,September 30,
(in millions)2023202220232022
Operating income (loss):
U.S. Media$72.7 $91.3 $(314.9)$235.9 
Other2.7 2.4 3.6 4.8 
Corporate(16.8)(19.4)(58.1)(58.0)
Total operating income (loss)$58.6 $74.3 $(369.4)$182.7 
Net loss on dispositions:
U.S. Media$— $0.2 $0.2 $0.1 
Total loss on dispositions$— $0.2 $0.2 $0.1 
Impairment charges (a):
U.S. Media$12.1 $— $523.5 $— 
Total impairment charges$12.1 $— $523.5 $— 
Depreciation and amortization:
U.S. Media$35.4 $36.7 $111.6 $101.5 
Other3.6 3.4 10.5 9.4 
Total depreciation and amortization$39.0 $40.1 $122.1 $110.9 
Capital expenditures:
U.S. Media$16.4 $23.8 $58.0 $64.1 
Other2.3 1.0 5.6 2.5 
Total capital expenditures$18.7 $24.8 $63.6 $66.6 

(a)Impairment charges related to a decline in the long-term outlook of our U.S. Transit and Other reporting unit (see Note 4. Long-Lived Assets) and an other-than-temporary decline in fair value of a cost-method investment.
Reconciliation of Assets from Segment to Consolidated
As of
(in millions)September 30,
2023
December 31, 2022
Assets:
U.S. Media$5,271.3 $5,732.1 
Other248.1 240.4 
Corporate35.4 17.5 
Total assets$5,554.8 $5,990.0 
Long-Lived Assets by Geographic Areas
As of
(in millions)September 30,
2023
December 31, 2022
Long-lived assets(a):
United States$4,962.1 $5,391.0 
Canada201.4 195.8 
Total assets$5,163.5 $5,586.8 

(a)Reflects total assets less current assets, investments and non-current deferred tax assets.