XML 36 R21.htm IDEA: XBRL DOCUMENT v3.20.4
Note 14 - Segment Information
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

14. Segment Information

 

During the years ended December 31, 2020 and 2019, we operated in two business segments, broadcasting and production companies. During the year ended December 31, 2018 we operated in one segment, broadcasting. The broadcasting segment operates television stations in local markets in the United States. The production companies segment includes the production of television and event content. Costs identified as other are primarily corporate and administrative expenses. The following tables present our business segment information (in millions):

 

      

Production

         

As of and for the Year ended December 31, 2020:

 

Broadcasting

  

Companies

  

Other

  

Consolidated

 
                 

Revenue (less agency commissions)

 $2,320  $61  $-  $2,381 

Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:

  1,340   52   65   1,457 

Depreciation and amortization

  186   12   3   201 

(Gain) loss on disposal of assets, net

  (31)  2   -   (29)

Total operating expenses

  1,495   66   68   1,629 

Operating income

 $825  $(5) $(68) $752 
                 

Interest expense

 $-  $-  $191  $191 

Capital expenditures (excluding business combinations)

 $106  $4  $-  $110 

Goodwill

 $1,419  $41  $-  $1,460 

Total assets

 $6,631  $141  $871  $7,643 
                 

As of and for the Year ended December 31, 2019:

                
                 

Revenue (less agency commissions)

 $2,035  $87  $-  $2,122 

Operating expenses before depreciation, amortization and gain on disposal of assets, net:

  1,325   74   104   1,503 

Depreciation and amortization

  180   13   2   195 

Gain on disposal of assets, net

  (54)  -   -   (54)

Total operating expenses

  1,451   87   106   1,644 

Operating income

 $584  $-  $(106) $478 
                 

Interest expense

 $-  $-  $227  $227 

Capital expenditures (excluding business combinations)

 $104  $1  $5  $110 

Goodwill

 $1,405  $41  $-  $1,446 

Total assets

 $6,530  $153  $289  $6,972 
                 

As of and for the Year ended December 31, 2018:

                
                 

Revenue (less agency commissions)

 $1,084  $-  $-  $1,084 

Operating expenses before depreciation, amortization and gain on disposal of assets, net:

  596   -   41   637 

Depreciation and amortization

  74   -   1   75 

Gain on disposal of assets, net

  (17)  -   -   (17)

Operating expenses

  653   -   42   695 

Operating income

 $431  $-  $(42) $389 
                 

Interest expense

 $-  $-  $107  $107 

Capital expenditures (excluding business combinations)

 $68  $-  $2  $70 

Goodwill

 $612  $-  $-  $612 

Total assets

 $2,763  $-  $1,450  $4,213