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v3.19.3

Segment Information (Tables) | 9 Months Ended
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Sep. 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 |  | Nine Months Ended
|  | September 30, |  | September 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 422.7 |  |  | $ | 379.7 |  |  | $ | 1,180.7 |  |  | $ | 1,056.8 |
Other |  | 39.8 |  |  | 34.5 |  |  | 113.4 |  |  | 97.0 |
Total revenues |  | $ | 462.5 |  |  | $ | 414.2 |  |  | $ | 1,294.1 |  |  | $ | 1,153.8 |
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income |
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Net income |  | $ | 38.7 |  |  | $ | 46.8 |  |  | $ | 95.1 |  |  | $ | 50.7 |
Provision for income taxes |  | 3.3 |  |  | 1.0 |  |  | 8.5 |  |  | 2.4 |
Equity in earnings of investee companies, net of tax |  | (1.4 | ) |  | (0.7 | ) |  | (3.9 | ) |  | (2.7 | )
Interest expense, net |  | 33.9 |  |  | 32.0 |  |  | 100.5 |  |  | 93.0 |
Loss on extinguishment of debt |  | 11.0 |  |  | — |  |  | 11.0 |  |  | — |
Other (income) expense, net |  | — |  |  | (0.2 | ) |  | (0.1 | ) |  | 0.1 |
Operating income |  | 85.5 |  |  | 78.9 |  |  | 211.1 |  |  | 143.5 |
Restructuring charges |  | — |  |  | 0.1 |  |  | 0.3 |  |  | 1.4 |
Net gain on dispositions |  | (1.9 | ) |  | (1.3 | ) |  | (3.0 | ) |  | (4.2 | )
Impairment charge |  | — |  |  | — |  |  | — |  |  | 42.9 |
Depreciation and amortization |  | 51.1 |  |  | 46.8 |  |  | 145.9 |  |  | 136.7 |
Stock-based compensation |  | 5.6 |  |  | 4.8 |  |  | 16.4 |  |  | 15.4 |
Total Adjusted OIBDA |  | $ | 140.3 |  |  | $ | 129.3 |  |  | $ | 370.7 |  |  | $ | 335.7 |
Adjusted OIBDA: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 147.3 |  |  | $ | 136.2 |  |  | $ | 387.7 |  |  | $ | 356.3 |
Other |  | 4.3 |  |  | 4.2 |  |  | 14.3 |  |  | 7.6 |
Corporate |  | (11.3 | ) |  | (11.1 | ) |  | (31.3 | ) |  | (28.2 | )
Total Adjusted OIBDA |  | $ | 140.3 |  |  | $ | 129.3 |  |  | $ | 370.7 |  |  | $ | 335.7 |
Tabular Disclosure by Reportable Segments |
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
(in millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Operating income (loss): |  |  |  |  |  |  |  |
U.S. Media |  | $ | 103.1 |  |  | $ | 96.0 |  |  | $ | 260.5 |  |  | $ | 240.4 |
Other |  | (0.7 | ) |  | (1.2 | ) |  | (1.4 | ) |  | (53.3 | )
Corporate |  | (16.9 | ) |  | (15.9 | ) |  | (48.0 | ) |  | (43.6 | )
Total operating income |  | $ | 85.5 |  |  | $ | 78.9 |  |  | $ | 211.1 |  |  | $ | 143.5 |
Net (gain) loss on dispositions: |  |  |  |  |  |  |  |
U.S. Media |  | $ | (1.9 | ) |  | $ | (1.1 | ) |  | $ | (3.2 | ) |  | $ | (4.0 | )
Other |  | — |  |  | (0.2 | ) |  | 0.2 |  |  | (0.2 | )
Total gain on dispositions |  | $ | (1.9 | ) |  | $ | (1.3 | ) |  | $ | (3.0 | ) |  | $ | (4.2 | )
Impairment charge: |  |  |  |  |  |  |  |
Other |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42.9 |
Total impairment charge |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42.9 |
Depreciation and amortization: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 46.1 |  |  | $ | 41.2 |  |  | $ | 130.4 |  |  | $ | 119.3 |
Other |  | 5.0 |  |  | 5.6 |  |  | 15.5 |  |  | 17.4 |
Total depreciation and amortization |  | $ | 51.1 |  |  | $ | 46.8 |  |  | $ | 145.9 |  |  | $ | 136.7 |
Capital expenditures: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 25.1 |  |  | $ | 14.0 |  |  | $ | 63.4 |  |  | $ | 54.0 |
Other |  | 0.7 |  |  | 1.7 |  |  | 2.0 |  |  | 8.1 |
Total capital expenditures |  | $ | 25.8 |  |  | $ | 15.7 |  |  | $ | 65.4 |  |  | $ | 62.1 |
Reconciliation of Assets from Segment to Consolidated |
|  | As of
(in millions) |  | September 30, 2019 |  | December 31, 2018
Assets: |  |  |  |
U.S. Media |  | $ | 5,011.8 |  |  | $ | 3,610.0 |
Other |  | 294.8 |  |  | 202.5 |
Corporate |  | 14.3 |  |  | 16.2 |
Total assets |  | $ | 5,320.9 |  |  | $ | 3,828.7 |

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