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Segment Information (Tables)

9 Months Ended

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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