SEGMENT DATA

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

SEGMENT DATA

17. SEGMENT DATA:

We measure segment performance based on operating income (loss). We have two reportable segments: broadcast and local sports. Our broadcast segment, previously referred to as our local news and marketing service segment, provides free over-the-air programming to television viewing audiences and includes stations in 88 markets located throughout the continental United States. Our local sports segment, previously referred to as our sports segment, provides viewers with live professional sports content and includes our regional sports network brands, Marquee, and a minority equity interest in the YES Network. 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 years ended December 31, 2020, 2019, and 2018 (in millions):

As of December 31, 2020	Broadcast		Local sports		Other & Corporate		Eliminations		Consolidated
Goodwill	$	2,017	$	—	$	75	$	—	$	2,092
Assets	4,908		6,620		1,867		(13)		13,382
Capital expenditures	101		24		32		—		157

As of December 31, 2019	Broadcast		Local sports		Other & Corporate		Eliminations		Consolidated
Goodwill	$	2,026	$	2,615	$	75	$	—	$	4,716
Assets	4,866		11,258		1,271		(25)		17,370
Capital expenditures	150		9		9		(12)		156

For the year ended December 31, 2020	Broadcast			Local sports		Other & Corporate		Eliminations			Consolidated
Revenue	$	2,922		$	2,686	$	451	$	(116)	(e)	$	5,943
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	239			410		27		(2)			674
Amortization of sports programming rights (a)	—			1,078		—		—			1,078
Amortization of program contract costs	83			—		3		—			86
Corporate general and administrative expenses	119			10		19		—			148
(Gain) loss on asset dispositions and other, net of impairment	(118)		(b)	—		3		—			(115)
Impairment of goodwill and definite-lived intangible assets	—			4,264		—		—			4,264
Operating income (loss)	789		(b)	(3,602)		47		(6)			(2,772)
Interest expense including amortization of debt discount and deferred financing costs	5			460		203		(12)			656
Income (loss) from equity method investments	—			6		(42)		—			(36)

For the year ended December 31, 2019	Broadcast			Local sports		Other & Corporate		Eliminations			Consolidated
Revenue	$	2,690		$	1,139	$	470	$	(59)	(e)	$	4,240
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	246			157		22		(1)			424
Amortization of sports programming rights (a)	—			637		—		—			637
Amortization of program contract costs	90			—		—		—			90
Corporate general and administrative expenses	144			93		151		(1)			387
Gain on asset dispositions and other, net of impairment	(62)		(b)	—		(30)		—			(92)
Operating income (loss)	546		(b)	30		(98)		(8)			470
Interest expense including amortization of debt discount and deferred financing costs	5			200		230		(13)			422
Income (loss) from equity method investments	—			18		(53)		—			(35)

For the year ended December 31, 2018	Broadcast			Local sports		Other & Corporate			Eliminations		Consolidated
Revenue	$	2,715		$	—	$	350		$	(10)	$	3,055
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	252			—		29			(1)		280
Amortization of program contract costs	101			—		—			—		101
Corporate general and administrative overhead expenses	100			—		11			—		111
(Gain) loss on asset dispositions and other, net of impairment	(100)		(c)	—		60		(d)	—		(40)
Operating income (loss)	751		(c)	—		(88)		(d)	(3)		660
Interest expense including amortization of debt discount and deferred financing costs	6			—		301			(15)		292
Loss from equity method investments	—			—		(61)			—		(61)

(a)The amortization of sports programming rights is included within media programming and production expenses on our consolidated statements of operations.

(b)Includes gains of $90 million and $62 million for the years ended December 31, 2020 and 2019, respectively, related to reimbursements for the spectrum repack costs. See Note 2. Acquisitions and Dispositions of Assets.

(c)Includes a gain of $83 million related to the auction proceeds. See Note 2. Acquisitions and Dispositions of Assets.

(d)Includes a $60 million impairment to the carrying value of a consolidated real estate venture. See Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(e)Includes $100 million and $35 million of revenue for the years ended December 31, 2020 and 2019, respectively, for services provided by broadcast to local sports and other, which are eliminated in consolidation.