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Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated | The following tables set forth our financial performance by segment.
|  |  |  | Three Months Ended
|  |  |  | March 31,
(in millions) |  |  |  |  |  | 2022 |  | 2021
Revenues: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 354.2 |  |  | $ | 245.4 |
Other |  |  |  |  |  | 19.3 |  |  | 13.8 |
Total revenues |  |  |  |  |  | $ | 373.5 |  |  | $ | 259.2 |
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income |
|  |  |  | Three Months Ended
|  |  |  | March 31,
(in millions) |  |  |  |  |  | 2022 |  | 2021
Net income (loss) before allocation to non-controlling interests |  |  |  |  |  | $ | 0.1 |  |  | $ | (67.6) |
Benefit for income taxes |  |  |  |  |  | (2.1) |  |  | (4.7) |
Equity in earnings of investee companies, net of tax |  |  |  |  |  | (0.3) |  |  | 0.4 |
Interest expense, net |  |  |  |  |  | 30.7 |  |  | 34.6 |
Loss on extinguishment of debt |  |  |  |  |  | — |  |  | 6.3 |
Other loss, net |  |  |  |  |  | 0.1 |  |  | — |
Operating income (loss) |  |  |  |  |  | 28.5 |  |  | (31.0) |
Net gain on dispositions |  |  |  |  |  | (0.3) |  |  | (0.3) |
Depreciation and amortization |  |  |  |  |  | 34.1 |  |  | 36.4 |
Stock-based compensation |  |  |  |  |  | 7.9 |  |  | 6.0 |
Total Adjusted OIBDA |  |  |  |  |  | $ | 70.2 |  |  | $ | 11.1 |
Adjusted OIBDA: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 80.1 |  |  | $ | 24.6 |
Other(a) |  |  |  |  |  | 0.6 |  |  | (2.0) |
Corporate |  |  |  |  |  | (10.5) |  |  | (11.5) |
Total Adjusted OIBDA |  |  |  |  |  | $ | 70.2 |  |  | $ | 11.1 |
Tabular Disclosure by Reportable Segments |
|  |  |  | Three Months Ended
|  |  |  | March 31,
(in millions) |  |  |  |  |  | 2022 |  | 2021
Operating income (loss): |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 49.3 |  |  | $ | (8.6) |
Other |  |  |  |  |  | (2.4) |  |  | (4.9) |
Corporate |  |  |  |  |  | (18.4) |  |  | (17.5) |
Total operating income (loss) |  |  |  |  |  | $ | 28.5 |  |  | $ | (31.0) |
Net gain on dispositions: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | (0.3) |  |  | $ | (0.3) |
Total gain on dispositions |  |  |  |  |  | $ | (0.3) |  |  | $ | (0.3) |
Depreciation and amortization: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 31.1 |  |  | $ | 33.5 |
Other |  |  |  |  |  | 3.0 |  |  | 2.9 |
Total depreciation and amortization |  |  |  |  |  | $ | 34.1 |  |  | $ | 36.4 |
Capital expenditures: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 16.1 |  |  | $ | 8.9 |
Other |  |  |  |  |  | 0.8 |  |  | 0.5 |
Total capital expenditures |  |  |  |  |  | $ | 16.9 |  |  | $ | 9.4 |
Reconciliation of Assets from Segment to Consolidated |
|  | As of
(in millions) |  | March 31, 2022 |  | December 31, 2021
Assets: |  |  |  |
U.S. Media |  | $ | 5,275.6 |  |  | $ | 5,280.7 |
Other |  | 250.0 |  |  | 248.1 |
Corporate |  | 317.4 |  |  | 395.9 |
Total assets |  | $ | 5,843.0 |  |  | $ | 5,924.7 |

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