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v3.19.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated | The following tables set forth our financial performance by segment.
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 419.6 |  |  | $ | 367.2 |  |  | $ | 758.0 |  |  | $ | 677.1 |
Other |  | 40.3 |  |  | 34.5 |  |  | 73.6 |  |  | 62.5 |
Total revenues |  | $ | 459.9 |  |  | $ | 401.7 |  |  | $ | 831.6 |  |  | $ | 739.6 |
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income |
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Net income (loss) |  | $ | 50.3 |  |  | $ | (5.2 | ) |  | $ | 56.4 |  |  | $ | 3.9 |
Provision for income taxes |  | 6.2 |  |  | 8.1 |  |  | 5.2 |  |  | 1.4 |
Equity in earnings of investee companies, net of tax |  | (1.7 | ) |  | (1.2 | ) |  | (2.5 | ) |  | (2.0 | )
Interest expense, net |  | 33.9 |  |  | 31.0 |  |  | 66.6 |  |  | 61.0 |
Other (income) expense, net |  | — |  |  | 0.2 |  |  | (0.1 | ) |  | 0.3 |
Operating income |  | 88.7 |  |  | 32.9 |  |  | 125.6 |  |  | 64.6 |
Restructuring charges |  | — |  |  | 0.2 |  |  | 0.3 |  |  | 1.3 |
Net (gain) loss on dispositions |  | 0.4 |  |  | (2.7 | ) |  | (1.1 | ) |  | (2.9 | )
Impairment charge |  | — |  |  | 42.9 |  |  | — |  |  | 42.9 |
Depreciation and amortization |  | 49.0 |  |  | 46.3 |  |  | 94.8 |  |  | 89.9 |
Stock-based compensation |  | 5.5 |  |  | 5.6 |  |  | 10.8 |  |  | 10.6 |
Total Adjusted OIBDA |  | $ | 143.6 |  |  | $ | 125.2 |  |  | $ | 230.4 |  |  | $ | 206.4 |
Adjusted OIBDA: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 145.8 |  |  | $ | 131.2 |  |  | $ | 240.4 |  |  | $ | 220.1 |
Other |  | 8.8 |  |  | 4.2 |  |  | 10.0 |  |  | 3.4 |
Corporate |  | (11.0 | ) |  | (10.2 | ) |  | (20.0 | ) |  | (17.1 | )
Total Adjusted OIBDA |  | $ | 143.6 |  |  | $ | 125.2 |  |  | $ | 230.4 |  |  | $ | 206.4 |
Tabular Disclosure by Reportable Segments |
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Operating income (loss): |  |  |  |  |  |  |  |
U.S. Media |  | $ | 101.9 |  |  | $ | 93.8 |  |  | $ | 157.4 |  |  | $ | 144.4 |
Other |  | 3.3 |  |  | (45.1 | ) |  | (0.7 | ) |  | (52.1 | )
Corporate |  | (16.5 | ) |  | (15.8 | ) |  | (31.1 | ) |  | (27.7 | )
Total operating income |  | $ | 88.7 |  |  | $ | 32.9 |  |  | $ | 125.6 |  |  | $ | 64.6 |
Net (gain) loss on dispositions: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 0.2 |  |  | $ | (2.7 | ) |  | $ | (1.3 | ) |  | $ | (2.9 | )
Other |  | 0.2 |  |  | — |  |  | 0.2 |  |  | — |
Total (gain) loss on dispositions |  | $ | 0.4 |  |  | $ | (2.7 | ) |  | $ | (1.1 | ) |  | $ | (2.9 | )
Impairment charge: |  |  |  |  |  |  |  |
Other |  | $ | — |  |  | $ | 42.9 |  |  | $ | — |  |  | $ | 42.9 |
Total impairment charge |  | $ | — |  |  | $ | 42.9 |  |  | $ | — |  |  | $ | 42.9 |
Depreciation and amortization: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 43.7 |  |  | $ | 40.1 |  |  | $ | 84.3 |  |  | $ | 78.1 |
Other |  | 5.3 |  |  | 6.2 |  |  | 10.5 |  |  | 11.8 |
Total depreciation and amortization |  | $ | 49.0 |  |  | $ | 46.3 |  |  | $ | 94.8 |  |  | $ | 89.9 |
Capital expenditures: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 21.0 |  |  | $ | 25.6 |  |  | $ | 38.3 |  |  | $ | 40.0 |
Other |  | 0.5 |  |  | 4.0 |  |  | 1.3 |  |  | 6.4 |
Total capital expenditures |  | $ | 21.5 |  |  | $ | 29.6 |  |  | $ | 39.6 |  |  | $ | 46.4 |
Reconciliation of Assets from Segment to Consolidated |
|  | As of
(in millions) |  | June 30, 2019 |  | December 31, 2018
Assets: |  |  |  |
U.S. Media |  | $ | 4,937.7 |  |  | $ | 3,610.0 |
Other |  | 291.1 |  |  | 202.5 |
Corporate |  | 436.2 |  |  | 16.2 |
Total assets |  | $ | 5,665.0 |  |  | $ | 3,828.7 |

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