Segment Data

9 Months Ended

Sep. 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 ninemonths ended September 30, 2013 and 2012.

(In thousands)	CCME		Americas Outdoor Advertising		International Outdoor Advertising		Other		Corporate and other reconciling items		Eliminations		Consolidated
Three Months Ended September 30, 2013
Revenue	$	823,863	$	331,346	$	391,667	$	57,460	$	-	$	(16,814)	$	1,587,522
Direct operating expenses		224,213		140,972		255,122		5,718		-		(2,153)		623,872
Selling, general and administrative expenses		282,505		55,739		75,698		34,314		-		(14,661)		433,595
Depreciation and amortization		64,745		48,530		49,090		9,925		5,040		-		177,330
Corporate expenses		-		-		-		-		92,204		-		92,204
Other operating income, net		-		-		-		-		6,186		-		6,186
Operating income (loss)	$	252,400	$	86,105	$	11,757	$	7,503	$	(91,058)	$	-	$	266,707
Intersegment revenues	$	-	$	1,110	$	-	$	15,704	$	-	$	-	$	16,814
Capital expenditures	$	22,171	$	13,838	$	19,983	$	2,070	$	6,518	$	-	$	64,580
Share-based compensation expense	$	-	$	-	$	-	$	-	$	2,754	$	-	$	2,754

(In thousands)	CCME		Americas Outdoor Advertising		International Outdoor Advertising		Other		Corporate and other reconciling items		Eliminations		Consolidated
Three Months Ended September 30, 2012
Revenue	$	798,759	$	335,021	$	396,120	$	76,067	$	-	$	(18,636)	$	1,587,331
Direct operating expenses		225,233		144,721		245,918		6,529		-		(5,180)		617,221
Selling, general and administrative expenses		264,962		54,225		82,357		35,962		-		(13,456)		424,050
Depreciation and amortization		67,956		50,177		49,740		10,663		3,814		-		182,350
Corporate expenses		-		-		-		-		73,921		-		73,921
Other operating income, net		-		-		-		-		42,118		-		42,118
Operating income (loss)	$	240,608	$	85,898	$	18,105	$	22,913	$	(35,617)	$	-	$	331,907
Intersegment revenues	$	-	$	314	$	-	$	18,322	$	-	$	-	$	18,636
Capital expenditures	$	16,885	$	25,633	$	30,238	$	2,812	$	10,621	$	-	$	86,189
Share-based compensation expense	$	-	$	-	$	-	$	-	$	7,378	$	-	$	7,378
Nine Months Ended September 30, 2013
Revenue	$	2,286,040	$	952,832	$	1,187,262	$	167,778	$	-	$	(45,235)	$	4,548,677
Direct operating expenses		646,111		419,676		762,167		18,535		-		(6,368)		1,840,121
Selling, general and administrative expenses		786,517		165,232		238,786		105,556		-		(38,867)		1,257,224
Depreciation and amortization		200,615		144,256		150,013		29,797		14,565		-		539,246
Corporate expenses		-		-		-		-		253,524		-		253,524
Other operating income, net		-		-		-		-		9,694		-		9,694
Operating income (loss)	$	652,797	$	223,668	$	36,296	$	13,890	$	(258,395)	$	-	$	668,256
Intersegment revenues	$	-	$	1,253	$	-	$	43,982	$	-	$	-	$	45,235
Capital expenditures	$	58,335	$	43,489	$	68,683	$	6,765	$	19,988	$	-	$	197,260
Share-based compensation expense	$	-	$	-	$	-	$	-	$	14,093	$	-	$	14,093
Nine Months Ended September 30, 2012
Revenue	$	2,263,308	$	935,850	$	1,207,900	$	191,909	$	-	$	(48,419)	$	4,550,548
Direct operating expenses		630,043		429,989		757,682		18,855		-		(9,652)		1,826,917
Selling, general and administrative expenses		757,920		150,658		270,019		113,460		-		(38,767)		1,253,290
Depreciation and amortization		202,935		141,702		149,485		34,871		10,562		-		539,555
Corporate expenses		-		-		-		-		218,621		-		218,621
Other operating income, net		-		-		-		-		47,159		-		47,159
Operating income (loss)	$	672,410	$	213,501	$	30,714	$	24,723	$	(182,024)	$	-	$	759,324
Intersegment revenues	$	-	$	1,084	$	-	$	47,335	$	-	$	-	$	48,419
Capital expenditures	$	43,711	$	84,749	$	97,147	$	11,817	$	23,057	$	-	$	260,481
Share-based compensation expense	$	-	$	-	$	-	$	-	$	20,090	$	-	$	20,090