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v3.6.0.2

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Revenue (less agency commissions) | $ 812,465 | $ 597,356 | $ 508,134
Operating expenses before depreciation, amortization, and loss on disposals of assets, net: |  |  |
Broadcast | 475,131 | 374,182 | 285,990
Corporate and administrative | 40,347 | 34,343 | 29,203
Depreciation | 45,923 | 36,712 | 30,248
Amortization of intangible assets | 16,596 | 11,982 | 8,297
Loss on disposals of assets, net | 329 | 80 | 623
Operating expenses | 578,326 | 457,299 | 354,361
Operating income | 234,139 | 140,057 | 153,773
Other income (expense): |  |  |
Miscellaneous income, net | 775 | 103 | 23
Interest expense | (97,236) | (74,411) | (68,913)
Loss from early extinguishment of debt | (31,987) |  | (5,086)
Income before income taxes | 105,691 | 65,749 | 79,797
Income tax expense | 43,418 | 26,448 | 31,736
Net trade income (loss) | $ 62,273 | $ 39,301 | $ 48,061
Basic per share information: |  |  |
Net income (in dollars per share) | $ 0.87 | $ 0.58 | $ 0.83
Weighted average shares outstanding (in shares) | 71,848 | 68,330 | 57,862
Diluted per share information: |  |  |
Net income (in dollars per share) | $ 0.86 | $ 0.57 | $ 0.82
Weighted average shares outstanding (in shares) | 72,764 | 68,987 | 58,364
Dividends declared per common share (in dollars per share) | $ 0 | $ 0 |

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