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SEGMENT DATA
3 Months Ended
Mar. 31, 2015
SEGMENT DATA  
SEGMENT DATA

 

7. SEGMENT DATA

 

We measure segment performance based on operating income (loss).  Our broadcast segment includes stations in 79 markets located throughout the continental United States. Our other operating divisions primarily consist of sign design and fabrication; regional security alarm operating and bulk acquisitions; manufacturing and service of broadcast antennas; service of broadcast transmitters; and real estate ventures. All of our other operating divisions are located within the United States.  Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location.  Other Operating Divisions and Corporate are not reportable segments but are included for reconciliation purposes.  We had approximately $207.0 million and $172.0 million of intercompany loans between the broadcast segment, other operating divisions and corporate as of March 31, 2015 and 2014, respectively.  We had $5.2 million and $4.9 million in intercompany interest expense related to intercompany loans between the broadcast segment, other operating divisions and corporate for the three months ending March 31, 2015 and 2014, respectively. All other intercompany transactions are immaterial.

 

Segment financial information is included in the following tables for the periods presented (in thousands):

 

For the three months ended March 31, 2015

 

Broadcast

 

Other
Operating
Divisions

 

Corporate

 

Consolidated

 

Revenue

 

$

485,122

 

$

19,653

 

$

 

$

504,775

 

Depreciation of property and equipment

 

24,185

 

725

 

279

 

25,189

 

Amortization of definite-lived intangible assets and other assets

 

37,891

 

2,089

 

 

39,980

 

Amortization of program contract costs and net realizable value adjustments

 

30,391

 

 

 

30,391

 

General and administrative overhead expenses

 

14,905

 

259

 

852

 

16,016

 

Operating income (loss)

 

87,449

 

744

 

(3,646

)

84,547

 

Interest expense

 

 

1,075

 

45,573

 

46,648

 

Income from equity and cost method investments

 

 

3,146

 

 

3,146

 

Assets

 

4,865,380

 

366,307

 

185,792

 

5,417,479

 

 

For the three months ended March 31, 2014

 

Broadcast

 

Other
Operating
Divisions

 

Corporate

 

Consolidated

 

Revenue

 

$

397,906

 

$

14,742

 

$

 

$

412,648

 

Depreciation of property and equipment

 

23,517

 

594

 

267

 

24,378

 

Amortization of definite-lived intangible assets and other assets

 

23,163

 

1,565

 

 

24,728

 

Amortization of program contract costs and net realizable value adjustments

 

23,941

 

 

 

23,941

 

General and administrative overhead expenses

 

14,730

 

251

 

854

 

15,835

 

Operating income (loss)

 

82,121

 

1

 

(1,122

)

81,000

 

Interest expense

 

 

919

 

38,619

 

39,538

 

Income from equity and cost method investments

 

 

98

 

 

98