NOTE 17: BUSINESS SEGMENTS

The Company’s business consists of Television and Entertainment operations and the management of certain owned real estate assets. The Company also holds a variety of investments, including an equity investment in TV Food Network. The Company’s Digital and Data operations, which had previously been presented as a separate reportable segment, are reported in discontinued operations (see Note 2 for further information).

Television and Entertainment is a reportable segment which provides audiences across the country with news, entertainment and sports programming on Tribune Broadcasting local television stations and their websites, WGN America, Covers and other digital assets. The Company’s 42 local television stations (including the three stations to which the Company provides certain services under SSAs with Dreamcatcher) consist of 14 FOX television affiliates, 12 CW Network, LLC television affiliates, 6 CBS television affiliates, 3 ABC television affiliates, 3 MY television affiliates, 2 NBC television affiliates and 2 independent television stations. Additionally, the Television and Entertainment segment includes the digital multicast network services through Antenna TV and through the operation and distribution of THIS TV; WGN America, a national general entertainment cable network; Covers, a sports betting information website; and radio program services on WGN-AM, a Chicago radio station.

Corporate and Other includes the Company’s real estate operating segment responsible for the management of certain owned real estate assets, including revenues from leasing Company-owned office and production facilities and any gains or losses from the sales of owned real estate, as well as certain administrative activities associated with operating the Company’s corporate office functions. Corporate and Other is not a reportable segment but is included below for reconciliation purposes.

No single customer provides more than 10% of the Company’s consolidated revenues. In determining operating profit for each segment, none of the following items have been included: income and loss on equity investments, interest and dividend income, interest expense, pension and other postretirement period benefit cost (credit), non-operating items, reorganization costs or income taxes. Assets represent those tangible and intangible assets used in the operations of each segment.

The following table summarizes business segment financial data (in thousands):



	2018			2017			2016
Operating Revenues from Continuing Operations (1)
Television and Entertainment	$	1,998,678		$	1,835,423		$	1,909,896
Corporate and Other	11,056			13,536			38,034
Total operating revenues	$	2,009,734		$	1,848,959		$	1,947,930
Operating Profit (Loss) from Continuing Operations (1)
Television and Entertainment	$	583,271		$	196,100		$	324,837
Corporate and Other	(94,831		)	(110,447		)	83,935
Total operating profit (loss)	$	488,440		$	85,653		$	408,772
Depreciation from Continuing Operations (2)
Television and Entertainment	$	44,766		$	42,713		$	45,083
Corporate and Other	9,440			13,601			13,742
Total depreciation	$	54,206		$	56,314		$	58,825
Amortization from Continuing Operations (2)
Television and Entertainment	$	166,715		$	166,679		$	166,664
Total amortization	$	166,715		$	166,679		$	166,664
Capital Expenditures
Television and Entertainment	$	59,693		$	48,667		$	59,167
Corporate and Other	16,495			16,587			16,944
Discontinued Operations	—			1,578			23,548
Total capital expenditures	$	76,188		$	66,832		$	99,659
Assets
Television and Entertainment	$	6,976,808		$	7,197,859
Corporate and Other (3)	1,274,583			932,569
Assets held for sale (4)	—			38,900
Total assets	$	8,251,391		$	8,169,328


(1)	See Note 2 for the disclosures of operating revenues and operating loss included in discontinued operations for the historical periods.


(2)	Depreciation from discontinued operations totaled $14 million for the year ended December 31, 2016. Amortization from discontinued operations totaled $30 million for the year ended December 31, 2016.


(3)	As of December 31, 2018 and December 31, 2017, Corporate total assets included $17 million and $18 million related to restricted cash and cash equivalents held to satisfy remaining claim obligations to holders of priority claims and fees earned by professional advisors during Chapter 11 proceedings (see Note 10). Corporate and Other assets include certain real estate assets (see Note 4).


(4)	See Note 4 for information regarding assets held for sale.