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Segment Data
 6 Months Ended
Jun. 30, 2012
Segment Data [Abstract]  
Segment Data

NOTE 9 – SEGMENT DATA

The Company's reportable segments, which it believes best reflect how the Company is currently managed, are CCME, Americas outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at fair value and eliminated in consolidation. The CCME segment provides media and entertainment services via broadcast and digital delivery and also includes the Company's national syndication business. The Americas outdoor advertising segment consists of operations primarily in the United States and Canada. The International outdoor advertising segment primarily includes operations in Europe, Asia and Latin America. The Americas outdoor and International outdoor display inventory consists primarily of billboards, street furniture displays and transit displays. The Other category includes the Company's media representation business as well as other general support services and initiatives which are ancillary to the Company's other businesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance and administrative functions of each of the Company's operating segments, as well as overall executive, administrative and support functions. Share-based payments are recorded by each segment in direct operating and selling, general and administrative expenses.

During the first quarter of 2012, the Company revised its segment reporting, as discussed in Note 1. The following table presents the Company's reportable segment results for the three and six months ended June 30, 2012 and 2011.

 

(In thousands) CCME Americas Outdoor Advertising International Outdoor Advertising Other Corporate and other reconciling items Eliminations Consolidated
Three Months Ended June 30, 2012
Revenue$ 793,039$ 320,678$ 440,648$ 64,144$ -$ (16,015)$ 1,602,494
Direct operating expenses  196,348  143,185  263,710  5,787  -  (1,935)  607,095
Selling, general and administrative expenses  243,157  44,699  87,586  36,761  -  (14,080)  398,123
Depreciation and amortization  67,923  48,567  50,710  11,355  3,284  -  181,839
Corporate expenses  -  -  -  -  71,158  -  71,158
Other operating income - net  -  -  -  -  1,917  -  1,917
Operating income (loss)$ 285,611$ 84,227$ 38,642$ 10,241$ (72,525)$ -$ 346,196
               
Intersegment revenues$ -$ -$ -$ 16,015$ -$ -$ 16,015
Capital expenditures$ 16,674$ 33,780$ 39,247$ 6,617$ 5,327$ -$ 101,645
Share-based compensation expense$ 1,202$ 1,240$ 874$ -$ 2,499$ -$ 5,815
Three Months Ended June 30, 2011
Revenue$ 771,744$ 318,217$ 470,991$ 59,172$ -$ (15,738)$ 1,604,386
Direct operating expenses  211,368  141,010  274,462  6,984  -  (3,809)  630,015
Selling, general and administrative expenses  252,581  49,035  93,902  36,847  -  (11,929)  420,436
Depreciation and amortization  69,033  50,322  55,278  12,809  2,199  -  189,641
Corporate expenses  -  -  -  -  56,486  -  56,486
Other operating income - net  -  -  -  -  3,229  -  3,229
Operating income (loss)$ 238,762$ 77,850$ 47,349$ 2,532$ (55,456)$ -$ 311,037
               
Intersegment revenues$ -$ 745$ -$ 14,993$ -$ -$ 15,738
Capital expenditures$ 10,424$ 34,562$ 23,979$ 1,004$ 6,514$ -$ 76,483
Share-based compensation expense$ 882$ 1,674$ 701$ -$ 2,481$ -$ 5,738
Six Months Ended June 30, 2012
Revenue$ 1,464,549$ 600,829$ 811,780$ 115,842$ -$ (29,783)$ 2,963,217
Direct operating expenses  412,727  287,595  513,353  12,326  -  (4,472)  1,221,529
Selling, general and administrative expenses  484,130  97,278  188,156  77,498  -  (25,311)  821,751
Depreciation and amortization  134,979  91,525  99,745  24,208  6,748  -  357,205
Corporate expenses  -  -  -  -  140,356  -  140,356
Other operating income - net  -  -  -  -  5,041  -  5,041
Operating income (loss)$ 432,713$ 124,431$ 10,526$ 1,810$ (142,063)$ -$ 427,417
                
Intersegment revenues$ -$ 770$ -$ 29,013$ -$ -$ 29,783
Capital expenditures$ 26,826$ 59,116$ 66,909$ 9,005$ 12,436$ -$ 174,292
Share-based compensation expense$ 2,416$ 3,172$ 2,083$ -$ 5,041$ -$ 12,712

(In thousands) CCME Americas Outdoor Advertising International Outdoor Advertising Other Corporate and other reconciling items Eliminations Consolidated
Six Months Ended June 30, 2011
Revenue$ 1,404,709$ 587,918$ 851,504$ 110,435$ -$ (29,354)$ 2,925,212
Direct operating expenses  400,613  276,960  529,892  14,169  -  (7,550)  1,214,084
Selling, general and administrative expenses  474,713  98,593  167,524  74,120  -  (21,804)  793,146
Depreciation and amortization  133,489  98,944  108,986  26,094  5,839  -  373,352
Corporate expenses  -  -  -  -  108,833  -  108,833
Other operating income - net  -  -  -  -  19,943  -  19,943
Operating income (loss)$ 395,894$ 113,421$ 45,102$ (3,948)$ (94,729)$ -$ 455,740
               
Intersegment revenues$ -$ 1,688$ -$ 27,666$ -$ -$ 29,354
Capital expenditures$ 23,663$ 65,477$ 39,102$ 3,126$ 9,084$ -$ 140,452
Share-based compensation expense$ 2,436$ 3,842$ 1,604$ -$ 147$ -$ 8,029