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v3.20.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
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) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Revenues: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 213.5 |  |  | $ | 419.6 |  |  | $ | 568.2 |  |  | $ | 758.0 |
Other |  | 19.4 |  |  | 40.3 |  |  | 50.0 |  |  | 73.6 |
Total revenues |  | $ | 232.9 |  |  | $ | 459.9 |  |  | $ | 618.2 |  |  | $ | 831.6 |
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income |
|  | Three Months Ended |  |  |  | Six Months Ended |  |
|  | June 30, |  |  |  | June 30, |  |
(in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net income (loss) before allocation to non-controlling interests |  | $ | (58.0) |  |  | $ | 50.3 |  |  | $ | (51.7) |  |  | $ | 56.4 |
(Benefit) provision for income taxes |  | (1.5) |  |  | 6.2 |  |  | (3.2) |  |  | 5.2 |
Equity in earnings of investee companies, net of tax |  | 0.3 |  |  | (1.7) |  |  | (0.1) |  |  | (2.5) |
Interest expense, net |  | 33.3 |  |  | 33.9 |  |  | 63.1 |  |  | 66.6 |
Other loss, net |  | — |  |  | — |  |  | (0.2) |  |  | (0.1) |
Operating income (loss) |  | (25.9) |  |  | 88.7 |  |  | 7.9 |  |  | 125.6 |
Restructuring charges |  | 4.7 |  |  | — |  |  | 4.7 |  |  | 0.3 |
Net (gain) loss on dispositions |  | (5.2) |  |  | 0.4 |  |  | (5.3) |  |  | (1.1) |
Depreciation and amortization |  | 42.9 |  |  | 49.0 |  |  | 90.2 |  |  | 94.8 |
Stock-based compensation |  | 5.2 |  |  | 5.5 |  |  | 11.0 |  |  | 10.8 |
Total Adjusted OIBDA |  | $ | 21.7 |  |  | $ | 143.6 |  |  | $ | 108.5 |  |  | $ | 230.4 |
Adjusted OIBDA: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 37.4 |  |  | $ | 145.8 |  |  | $ | 128.2 |  |  | $ | 240.4 |
Other |  | (5.4) |  |  | 8.8 |  |  | (4.9) |  |  | 10.0 |
Corporate |  | (10.3) |  |  | (11.0) |  |  | (14.8) |  |  | (20.0) |
Total Adjusted OIBDA |  | $ | 21.7 |  |  | $ | 143.6 |  |  | $ | 108.5 |  |  | $ | 230.4 |
Tabular Disclosure by Reportable Segments |
|  | Three Months Ended |  |  |  | Six Months Ended |  |
|  | June 30, |  |  |  | June 30, |  |
(in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating income (loss): |  |  |  |  |  |  |  |
U.S. Media |  | $ | (3.9) |  |  | $ | 101.9 |  |  | $ | 43.5 |  |  | $ | 157.4 |
Other |  | (5.5) |  |  | 3.3 |  |  | (8.8) |  |  | (0.7) |
Corporate |  | (16.5) |  |  | (16.5) |  |  | (26.8) |  |  | (31.1) |
Total operating income (loss) |  | $ | (25.9) |  |  | $ | 88.7 |  |  | $ | 7.9 |  |  | $ | 125.6 |
Net (gain) loss on dispositions: |  |  |  |  |  |  |  |
U.S. Media |  | $ | (1.1) |  |  | $ | 0.2 |  |  | $ | (1.2) |  |  | $ | (1.3) |
Other |  | (4.1) |  |  | 0.2 |  |  | (4.1) |  |  | 0.2 |
Total (gain) loss on dispositions |  | $ | (5.2) |  |  | $ | 0.4 |  |  | $ | (5.3) |  |  | $ | (1.1) |
Depreciation and amortization: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 39.4 |  |  | $ | 43.7 |  |  | $ | 82.9 |  |  | $ | 84.3 |
Other |  | 3.5 |  |  | 5.3 |  |  | 7.3 |  |  | 10.5 |
Total depreciation and amortization |  | $ | 42.9 |  |  | $ | 49.0 |  |  | $ | 90.2 |  |  | $ | 94.8 |
Capital expenditures: |  |  |  |  |  |  |  |
U.S. Media |  | $ | 13.6 |  |  | $ | 21.0 |  |  | $ | 30.9 |  |  | $ | 38.3 |
Other |  | 0.1 |  |  | 0.5 |  |  | 1.0 |  |  | 1.3 |
Total capital expenditures |  | $ | 13.7 |  |  | $ | 21.5 |  |  | $ | 31.9 |  |  | $ | 39.6 |
Reconciliation of Assets from Segment to Consolidated |
|  | As of |  |
(in millions) |  | June 30, 2020 |  | December 31, 2019
Assets: |  |  |  |
U.S. Media |  | $ | 5,021.3 |  |  | $ | 5,077.1 |
Other |  | 258.4 |  |  | 284.0 |
Corporate |  | 607.4 |  |  | 21.2 |
Total assets |  | $ | 5,887.1 |  |  | $ | 5,382.3 |

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