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Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
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) |  |  |  |  |  | 2024 |  | 2023
Revenues: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 389.6 |  |  | $ | 376.4 |
Other |  |  |  |  |  | 18.9 |  |  | 19.4 |
Total revenues |  |  |  |  |  | $ | 408.5 |  |  | $ | 395.8 |
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income |
|  |  |  | Three Months Ended
|  |  |  | March 31,
(in millions) |  |  |  |  |  | 2024 |  | 2023
Net loss before allocation to non-controlling interests |  |  |  |  |  | $ | (27.1) |  |  | $ | (28.7) |
(Benefit) provision for income taxes |  |  |  |  |  | (0.5) |  |  | 0.4 |
Equity in earnings of investee companies, net of tax |  |  |  |  |  | 0.2 |  |  | 0.8 |
Interest expense, net |  |  |  |  |  | 41.4 |  |  | 37.7 |
Operating income |  |  |  |  |  | 14.0 |  |  | 10.2 |
Net loss on dispositions |  |  |  |  |  | 0.1 |  |  | 0.3 |
Impairment charges |  |  |  |  |  | 9.1 |  |  | — |
Depreciation and amortization |  |  |  |  |  | 36.1 |  |  | 41.9 |
Stock-based compensation |  |  |  |  |  | 7.2 |  |  | 7.8 |
Total Adjusted OIBDA |  |  |  |  |  | $ | 66.5 |  |  | $ | 60.2 |
Adjusted OIBDA: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 81.8 |  |  | $ | 72.1 |
Other |  |  |  |  |  | 0.9 |  |  | 1.1 |
Corporate |  |  |  |  |  | (16.2) |  |  | (13.0) |
Total Adjusted OIBDA |  |  |  |  |  | $ | 66.5 |  |  | $ | 60.2 |
Tabular Disclosure by Reportable Segments |
|  |  |  | Three Months Ended
|  |  |  | March 31,
(in millions) |  |  |  |  |  | 2024 |  | 2023
Operating income (loss): |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 36.5 |  |  | $ | 33.3 |
Other |  |  |  |  |  | 0.9 |  |  | (2.3) |
Corporate |  |  |  |  |  | (23.4) |  |  | (20.8) |
Total operating income |  |  |  |  |  | $ | 14.0 |  |  | $ | 10.2 |
Net loss on dispositions: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 0.1 |  |  | $ | 0.3 |
Total loss on dispositions |  |  |  |  |  | $ | 0.1 |  |  | $ | 0.3 |
Impairment charges (a): |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 9.1 |  |  | $ | — |
Total impairment charges |  |  |  |  |  | $ | 9.1 |  |  | $ | — |
Depreciation and amortization: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 36.1 |  |  | $ | 38.5 |
Other |  |  |  |  |  | — |  |  | 3.4 |
Total depreciation and amortization |  |  |  |  |  | $ | 36.1 |  |  | $ | 41.9 |
Capital expenditures: |  |  |  |  |  |  |  |
U.S. Media |  |  |  |  |  | $ | 17.6 |  |  | $ | 22.0 |
Other |  |  |  |  |  | 0.8 |  |  | 0.6 |
Total capital expenditures |  |  |  |  |  | $ | 18.4 |  |  | $ | 22.6 |
(a)Impairment charges related to the long-term outlook of our U.S. Transit and Other reporting unit (see Note 4. Intangible Assets).
Reconciliation of Assets from Segment to Consolidated |
|  | As of
(in millions) |  | March 31, 2024 |  | December 31, 2023
Assets: |  |  |  |
U.S. Media |  | $ | 5,220.7 |  |  | $ | 5,297.2 |
Other(a) |  | 255.8 |  |  | 259.7 |
Corporate |  | 37.5 |  |  | 26.0 |
Total assets |  | $ | 5,514.0 |  |  | $ | 5,582.9 |
(a)Includes amounts reclassified as Assets held for sale on the Consolidated Statement of Financial Position. (See Note 11. Acquisitions and Dispositions: Dispositions: Canadian Business.)
Long-Lived Assets by Geographic Areas |
|  | As of
(in millions) |  | March 31, 2024 |  | December 31, 2023
Long-lived assets(a): |  |  |  |
United States |  | $ | 4,935.6 |  |  | $ | 4,962.6 |
Canada(b) |  | 209.7 |  |  | 214.3 |
Total assets |  | $ | 5,145.3 |  |  | $ | 5,176.9 |
(a)Reflects total assets less current assets, investments and non-current deferred tax assets. (b)Includes amounts reclassified as Assets held for sale on the Consolidated Statement of Financial Position. (See Note 11. Acquisitions and Dispositions: Dispositions: Canadian Business.)

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