Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the financial results of discontinued operations (in thousands):

	Quarter ended Sept. 30,						Nine months ended Sept. 30,
	2017 (1)			2016			2017 (1)			2016 (2)
Operating revenues	$	54,874		$	340,649		$	647,021		$	999,929
Cost of revenue and SG&A expenses	60,301			228,152			522,287			708,815
Depreciation	—			9,421			19,569			24,843
Amortization	—			23,385			40,300			68,159
Loss on sale of CareerBuilder	(1,872		)	—			342,900			—
Total operating expenses	58,429			260,958			925,056			801,817
Total operating (loss) income	(3,555		)	79,691			(278,035		)	198,112
Non-operating income (expense)	647			(3,304		)	(1,078		)	(8,989		)
(Loss) income from discontinued operations, before income taxes	(2,908		)	76,387			(279,113		)	189,123
Provision for income taxes	(7,895		)	(19,689		)	45,852			(56,982		)
(Loss) income from discontinued operations, net of tax	$	(10,803	)	$	56,698		$	(233,261	)	$	132,141
(1) The quarter and nine months ended September 30, 2017 include CareerBuilder’s operations through the date of sale on July 31, 2017. Cars.com operations are included in the nine months ended September 30, 2017 through the date of spin-off on May 31, 2017.
(2) The nine months ended September 30, 2016 include approximately $7.5 million of net loss from discontinued operations related to the operations of our former Sightline business through the date of sale on March 18, 2016.

The carrying value of the assets and liabilities of our former Digital Segment’s discontinued operations as of December 31, 2016 were as follows (in thousands):

	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$	61,041
Accounts receivable, net	214,171
Property and equipment, net	74,695
Goodwill	1,488,112
Other Intangibles, net	1,718,592
Other assets	71,193
Total assets	$	3,627,804
LIABILITIES
Accounts payable	$	166,853
Deferred revenue	110,071
Deferred tax liability	280,264
Other liabilities	66,969
Total liabilities	$	624,157

In our Consolidated Statements of Cash Flows, the cash flows from discontinued operations are not separately classified. As such, major categories of discontinued operation cash flows for the nine months ended September 30, 2017 and 2016 are presented below (in thousands):

	Nine months ended Sept. 30,
	2017 (1)		2016
Depreciation	$	19,569	$	24,843
Amortization	40,300		68,159
Capital expenditures	37,441		38,825
Payments for acquisitions, net of cash acquired	$	—	$	196,750
(1) The nine months ended September 30, 2017 includes Cars.com through the spin-off date of May 31, 2017 and CareerBuilder’s operations through the date of sale on July 31, 2017.