XML 77 R15.htm IDEA: XBRL DOCUMENT v3.20.1
SEGMENT DATA
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
SEGMENT DATA SEGMENT DATA:
 
We measure segment performance based on operating income (loss). We have two reportable segments: local news and marketing services and sports. Our local news and marketing services segment, previously referred to as our broadcast segment, provides free over-the-air programming to television viewing audiences and includes stations in 89 markets located throughout the continental United States. Our sports segment provides viewers with live professional sports content and includes 23 regional sports network brands. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of original networks and content, including Tennis, non-broadcast digital and internet solutions, technical services, and other non-media investments. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. All of our businesses are located within the United States.
Segment financial information is included in the following tables for the periods presented (in millions):
As of March 31, 2020
 
Local News and Marketing Services
 
Sports
 
Other & Corporate
 
Eliminations
 
Consolidated
Assets
 
$
4,758

 
$
10,846

 
$
1,774

 
$
(18
)
 
$
17,360


For the three months ended March 31, 2020
 
Local News and Marketing Services
 
Sports
 
Other & Corporate
 
Eliminations
 
Consolidated
Revenue
 
$
701

 
$
812

 
$
128

 
$
(32
)
(b)
$
1,609

Depreciation of property and equipment and amortization of definite-lived intangibles and other assets
 
58

 
110

 
6

 
—

 
174

Amortization of sports programming rights (a)
 
—

 
391

 
—

 
—

 
391

Amortization of program contract costs and net realizable value adjustments
 
23

 
—

 
—

 
—

 
23

Corporate general and administrative expenses
 
44

 
2

 
3

 
—

 
49

Gain on asset dispositions and other, net of impairment
 
(32
)
 
—

 
—

 
—

 
(32
)
Operating income (loss)
 
152

 
165

 
19

 
(9
)
 
327

Interest expense including amortization of debt discount and deferred financing costs
 
1

 
123

 
59

 
(3
)
 
180

Income (loss) from equity method investments
 
—

 
6

 
(12
)
 
—

 
(6
)

For the three months ended March 31, 2019
 
Local News and Marketing Services
 
Sports
 
Other & Corporate
 
Eliminations
 
Consolidated
Revenue
 
$
619

 
$
—

 
$
107

 
$
(4
)
 
$
722

Depreciation of property and equipment and amortization of definite-lived intangibles and other assets
 
63

 
—

 
3

 
—

 
66

Amortization of program contract costs and net realizable value adjustments
 
24

 
—

 
—

 
—

 
24

Corporate general and administrative expenses
 
26

 
—

 
2

 
—

 
28

Gain on asset dispositions and other, net of impairment
 
(8
)
 
—

 
—

 
—

 
(8
)
Operating income (loss)
 
95

 
—

 
2

 
(3
)
 
94

Interest expense including amortization of debt discount and deferred financing costs
 
1

 
—

 
57

 
(4
)
 
54

Loss from equity method investments
 
—

 
—

 
(14
)
 
—

 
(14
)
 

(a)
The amortization of sports programming rights is included within media programming and production expenses on our consolidated statements of operations. Due to the outbreak of COVID-19 and postponement of professional sports leagues, we stopped recording amortization of our sports contracts during the month of March 2020.
(b)
Includes $24 million of revenue and selling, general, and administrative expenses, respectively, for services provided by local news and marketing services to sports and other, which are eliminated in consolidation.