Segment Data

6 Months Ended

Jun. 30, 2013

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 estimated 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, Australia 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 reportable segments, as well as overall executive, administrative and support functions. Share-based payments are recorded in corporate expenses.

The following table presents the Company's reportable segment results for the three and six months ended June 30, 2013 and 2012.

(In thousands)	CCME		Americas Outdoor Advertising		International Outdoor Advertising		Other		Corporate and other reconciling items		Eliminations		Consolidated
Three Months Ended June 30, 2013
Revenue	$	805,611	$	335,025	$	431,846	$	61,099	$	-	$	(15,484)	$	1,618,097
Direct operating expenses		219,476		141,813		257,745		6,323		-		(2,079)		623,278
Selling, general and administrative expenses		263,024		55,121		77,899		35,781		-		(13,405)		418,420
Depreciation and amortization		68,038		47,041		49,930		9,890		4,835		-		179,734
Corporate expenses		-		-		-		-		77,557		-		77,557
Other operating income, net		-		-		-		-		1,113		-		1,113
Operating income (loss)	$	255,073	$	91,050	$	46,272	$	9,105	$	(81,279)	$	-	$	320,221
Intersegment revenues	$	-	$	60	$	-	$	15,424	$	-	$	-	$	15,484
Capital expenditures	$	21,920	$	16,756	$	22,792	$	2,592	$	7,000	$	-	$	71,060
Share-based compensation expense	$	-	$	-	$	-	$	-	$	5,822	$	-	$	5,822

(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		195,790		142,267		263,047		5,787		-		(1,935)		604,956
Selling, general and administrative expenses		244,893		44,377		87,375		36,761		-		(14,080)		399,326
Depreciation and amortization		67,923		48,567		50,710		11,355		3,284		-		181,839
Corporate expenses		-		-		-		-		72,094		-		72,094
Other operating income, net		-		-		-		-		1,917		-		1,917
Operating income (loss)	$	284,433	$	85,467	$	39,516	$	10,241	$	(73,461)	$	-	$	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	$	-	$	-	$	-	$	-	$	5,815	$	-	$	5,815
Six Months Ended June 30, 2013
Revenue	$	1,462,177	$	621,486	$	795,595	$	110,318	$	-	$	(28,421)	$	2,961,155
Direct operating expenses		421,898		278,704		507,045		12,817		-		(4,215)		1,216,249
Selling, general and administrative expenses		504,012		109,493		163,088		71,242		-		(24,206)		823,629
Depreciation and amortization		135,870		95,726		100,923		19,872		9,525		-		361,916
Corporate expenses		-		-		-		-		161,320		-		161,320
Other operating income, net		-		-		-		-		3,508		-		3,508
Operating income (loss)	$	400,397	$	137,563	$	24,539	$	6,387	$	(167,337)	$	-	$	401,549
Intersegment revenues	$	-	$	143	$	-	$	28,278	$	-	$	-	$	28,421
Capital expenditures	$	36,164	$	29,651	$	48,700	$	4,695	$	13,470	$	-	$	132,680
Share-based compensation expense	$	-	$	-	$	-	$	-	$	11,339	$	-	$	11,339
Six Months Ended June 30, 2012
Revenue	$	1,464,549	$	600,829	$	811,780	$	115,842	$	-	$	(29,783)	$	2,963,217
Direct operating expenses		411,606		285,268		511,764		12,326		-		(4,472)		1,216,492
Selling, general and administrative expenses		486,162		96,433		187,662		77,498		-		(25,311)		822,444
Depreciation and amortization		134,979		91,525		99,745		24,208		6,748		-		357,205
Corporate expenses		-		-		-		-		144,700		-		144,700
Other operating income, net		-		-		-		-		5,041		-		5,041
Operating income (loss)	$	431,802	$	127,603	$	12,609	$	1,810	$	(146,407)	$	-	$	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	$	-	$	-	$	-	$	-	$	12,712	$	-	$	12,712