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Segment Data | 6 Months Ended
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Jun. 30, 2014
Segment Data [Abstract] |
Segment Data | NOTE 9 – SEGMENT DATA The Company's reportable segments, which it believes best reflect how the Company is currently managed, are CCME, Americas outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at estimated fair value and eliminated in consolidation. The CCME segment provides media and entertainment services via broadcast and digital delivery and also includes the Company's national syndication business. The Americas outdoor advertising segment consists of operations primarily in the United States and Canada. The International outdoor advertising segment primarily incl udes operations in Europe, Asia, Australia and Latin America. The Americas outdoor and International outdoor display inventory consists primarily of billboards, street furniture displays and transit displays. The Other category includes the Com pany's media representation business as well as other general support services and initiatives which are ancillary to the Company's other businesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance and administrative functions of each of the Company's reportable segments, as well as overall executive, administrative and support functions. Share-based payments are recorded in corporate expenses. The following table presents the Company's reportable segment results for the three and six months ended June 30, 2014 and 2013.
(In thousands) | CCME |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Three Months Ended June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue | $ | 806,337 |  | $ | 319,147 |  | $ | 462,058 |  | $ | 59,062 |  | $ | - |  | $ | (16,450) |  | $ | 1,630,154
Direct operating expenses |  | 225,410 |  |  | 139,734 |  |  | 273,410 |  |  | 6,349 |  |  | - |  |  | (1,681) |  |  | 643,222
Selling, general and administrative expenses |  | 259,193 |  |  | 52,420 |  |  | 87,851 |  |  | 35,882 |  |  | - |  |  | (14,769) |  |  | 420,577
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 82,196 |  |  | - |  |  | 82,196
Depreciation and amortization |  | 61,479 |  |  | 47,523 |  |  | 50,214 |  |  | 8,654 |  |  | 6,192 |  |  | - |  |  | 174,062
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,902 |  |  | - |  |  | 4,902
Other operating loss, net |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,628) |  |  | - |  |  | (1,628)
Operating income (loss) | $ | 260,255 |  | $ | 79,470 |  | $ | 50,583 |  | $ | 8,177 |  | $ | (94,918) |  | $ | - |  | $ | 303,567
Intersegment revenues | $ | - |  | $ | 1,094 |  | $ | - |  | $ | 15,356 |  | $ | - |  | $ | - |  | $ | 16,450
Capital expenditures | $ | 10,391 |  | $ | 17,190 |  | $ | 36,269 |  | $ | 1,080 |  | $ | 9,084 |  | $ | - |  | $ | 74,014
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,782 |  | $ | - |  | $ | 2,782
Three Months Ended June 30, 2013
Revenue | $ | 805,611 |  | $ | 335,025 |  | $ | 431,846 |  | $ | 61,099 |  | $ | - |  | $ | (15,484) |  | $ | 1,618,097
Direct operating expenses |  | 226,555 |  |  | 141,813 |  |  | 257,745 |  |  | 6,323 |  |  | - |  |  | (2,079) |  |  | 630,357
Selling, general and administrative expenses |  | 255,945 |  |  | 55,121 |  |  | 77,899 |  |  | 35,781 |  |  | - |  |  | (13,405) |  |  | 411,341
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 77,557 |  |  | - |  |  | 77,557
Depreciation and amortization |  | 68,038 |  |  | 47,041 |  |  | 49,930 |  |  | 9,890 |  |  | 4,835 |  |  | - |  |  | 179,734
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,113 |  |  | - |  |  | 1,113
Operating income (loss) | $ | 255,073 |  | $ | 91,050 |  | $ | 46,272 |  | $ | 9,105 |  | $ | (81,279) |  | $ | - |  | $ | 320,221
Intersegment revenues | $ | - |  | $ | 60 |  | $ | - |  | $ | 15,424 |  | $ | - |  | $ | - |  | $ | 15,484
Capital expenditures | $ | 21,920 |  | $ | 16,756 |  | $ | 22,792 |  | $ | 2,592 |  | $ | 7,000 |  | $ | - |  | $ | 71,060
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 5,822 |  | $ | - |  | $ | 5,822
Six Months Ended June 30, 2014
Revenue | $ | 1,476,684 |  | $ | 587,904 |  | $ | 828,552 |  | $ | 110,524 |  | $ | - |  | $ | (30,962) |  | $ | 2,972,702
Direct operating expenses |  | 436,164 |  |  | 273,022 |  |  | 521,635 |  |  | 12,736 |  |  | - |  |  | (3,840) |  |  | 1,239,717
Selling, general and administrative expenses |  | 518,348 |  |  | 103,532 |  |  | 169,689 |  |  | 71,958 |  |  | - |  |  | (27,122) |  |  | 836,405
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 154,902 |  |  | - |  |  | 154,902
Depreciation and amortization |  | 124,050 |  |  | 95,121 |  |  | 100,658 |  |  | 17,374 |  |  | 11,730 |  |  | - |  |  | 348,933
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,902 |  |  | - |  |  | 4,902
Other operating loss, net |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,463) |  |  | - |  |  | (1,463)
Operating income (loss) | $ | 398,122 |  | $ | 116,229 |  | $ | 36,570 |  | $ | 8,456 |  | $ | (172,997) |  | $ | - |  | $ | 386,380
Intersegment revenues | $ | - |  | $ | 2,070 |  | $ | - |  | $ | 28,892 |  | $ | - |  | $ | - |  | $ | 30,962
Capital expenditures | $ | 20,684 |  | $ | 29,410 |  | $ | 61,355 |  | $ | 2,886 |  | $ | 27,086 |  | $ | - |  | $ | 141,421
Share-based compensation expense | $ | - |  |  | - |  |  | - |  |  | - |  |  | 5,818 |  |  | - |  |  | 5,818
Six Months Ended June 30, 2013
Revenue | $ | 1,462,177 |  | $ | 621,486 |  | $ | 795,595 |  | $ | 110,318 |  | $ | - |  | $ | (28,421) |  | $ | 2,961,155
Direct operating expenses |  | 430,823 |  |  | 278,704 |  |  | 507,045 |  |  | 12,817 |  |  | - |  |  | (4,215) |  |  | 1,225,174
Selling, general and administrative expenses |  | 495,087 |  |  | 109,493 |  |  | 163,088 |  |  | 71,242 |  |  | - |  |  | (24,206) |  |  | 814,704
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 161,320 |  |  | - |  |  | 161,320
Depreciation and amortization |  | 135,870 |  |  | 95,726 |  |  | 100,923 |  |  | 19,872 |  |  | 9,525 |  |  | - |  |  | 361,916
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,508 |  |  | - |  |  | 3,508
Operating income (loss) | $ | 400,397 |  | $ | 137,563 |  | $ | 24,539 |  | $ | 6,387 |  | $ | (167,337) |  | $ | - |  | $ | 401,549
Intersegment revenues | $ | - |  | $ | 143 |  | $ | - |  | $ | 28,278 |  | $ | - |  | $ | - |  | $ | 28,421
Capital expenditures | $ | 36,164 |  | $ | 29,651 |  | $ | 48,700 |  | $ | 4,695 |  | $ | 13,470 |  | $ | - |  | $ | 132,680
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 11,339 |  | $ | - |  | $ | 11,339

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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