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Segment Data | 6 Months Ended
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Jun. 30, 2015
Segment Data | NOTE 8 – SEGMENT DATA The Company’s reportable segments, which it believes best reflect how the Company is currently managed, are iHM, 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 iHM segment provides media and entertainment services via broad cast and digital delivery and also includes the Company’s events and national syndication business es. The Americas outdoor advertising segment consists of operations pri marily in the United States, Canada and Latin America. The International outdoor adv ertising segment primarily incl udes operations in Europe, Asia and Australia. The Other category includes the Com pany’s media representation business as well as other general support services and init i atives that are ancillary to the Company’s other busi nesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance and administrative functions for each of the Company’s reportable segments, as well as overall executive, administrative and support f unctions. Share-based payments are recorded in corporate expense.
During the first quarter of 2015, the Company revised its segment reporting, as discussed in Note 1. The following table presents the Company’s reportable segment results for the three and six months ended June 30, 2015 and 2014:
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Three Months Ended June 30, 2015
Revenue | $ | 840,701 |  | $ | 341,286 |  | $ | 381,533 |  | $ | 40,040 |  | $ | - |  | $ | (3,701) |  | $ | 1,599,859
Direct operating expenses |  | 241,826 |  |  | 149,712 |  |  | 222,630 |  |  | 3,039 |  |  | - |  |  | (1,942) |  |  | 615,265
Selling, general and administrative expenses |  | 266,523 |  |  | 57,346 |  |  | 75,176 |  |  | 26,877 |  |  | - |  |  | (1,759) |  |  | 424,163
Depreciation and amortization |  | 59,571 |  |  | 51,113 |  |  | 40,956 |  |  | 7,611 |  |  | 9,143 |  |  | - |  |  | 168,394
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 80,592 |  |  | - |  |  | 80,592
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 100,754 |  |  | - |  |  | 100,754
Operating income | $ | 272,781 |  | $ | 83,115 |  | $ | 42,771 |  | $ | 2,513 |  | $ | 11,019 |  | $ | - |  | $ | 412,199
Intersegment revenues | $ | - |  | $ | 1,062 |  | $ | - |  | $ | 2,639 |  | $ | - |  | $ | - |  | $ | 3,701
Capital expenditures | $ | 15,414 |  | $ | 15,664 |  | $ | 31,752 |  | $ | 2,097 |  | $ | 3,495 |  | $ | - |  | $ | 68,422
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,403 |  | $ | - |  | $ | 2,403
Three Months Ended June 30, 2014
Revenue | $ | 806,337 |  | $ | 344,346 |  | $ | 436,859 |  | $ | 47,227 |  | $ | - |  | $ | (4,615) |  | $ | 1,630,154
Direct operating expenses |  | 227,059 |  |  | 153,875 |  |  | 259,269 |  |  | 6,348 |  |  | - |  |  | (1,681) |  |  | 644,870
Selling, general and administrative expenses |  | 250,681 |  |  | 58,448 |  |  | 81,823 |  |  | 30,910 |  |  | - |  |  | (2,934) |  |  | 418,928
Depreciation and amortization |  | 59,230 |  |  | 49,848 |  |  | 47,889 |  |  | 8,655 |  |  | 8,440 |  |  | - |  |  | 174,062
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,902 |  |  | - |  |  | 4,902
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 82,197 |  |  | - |  |  | 82,197
Other operating expense, net |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,628) |  |  | - |  |  | (1,628)
Operating income (loss) | $ | 269,367 |  | $ | 82,175 |  | $ | 47,878 |  | $ | 1,314 |  | $ | (97,167) |  | $ | - |  | $ | 303,567
Intersegment revenues | $ | - |  | $ | 1,094 |  | $ | - |  | $ | 3,521 |  | $ | - |  | $ | - |  | $ | 4,615
Capital expenditures | $ | 10,392 |  | $ | 21,683 |  | $ | 31,776 |  | $ | 1,079 |  | $ | 9,083 |  | $ | - |  | $ | 74,013
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,782 |  | $ | - |  | $ | 2,782
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Six Months Ended June 30, 2015
Revenue | $ | 1,538,502 |  | $ | 637,149 |  | $ | 700,713 |  | $ | 75,502 |  | $ | - |  | $ | (7,443) |  | $ | 2,944,423
Direct operating expenses |  | 455,655 |  |  | 295,946 |  |  | 439,367 |  |  | 6,437 |  |  | - |  |  | (3,621) |  |  | 1,193,784
Selling, general and administrative expenses |  | 527,872 |  |  | 112,983 |  |  | 146,669 |  |  | 56,649 |  |  | - |  |  | (3,822) |  |  | 840,351
Depreciation and amortization |  | 120,313 |  |  | 101,453 |  |  | 83,397 |  |  | 15,277 |  |  | 18,407 |  |  | - |  |  | 338,847
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 157,880 |  |  | - |  |  | 157,880
Other operating expense, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 91,780 |  |  | - |  |  | 91,780
Operating income (loss) | $ | 434,662 |  | $ | 126,767 |  | $ | 31,280 |  | $ | (2,861) |  | $ | (84,507) |  | $ | - |  | $ | 505,341
Intersegment revenues | $ | - |  | $ | 2,163 |  | $ | - |  | $ | 5,280 |  | $ | - |  | $ | - |  | $ | 7,443
Capital expenditures | $ | 27,327 |  | $ | 32,359 |  | $ | 56,857 |  | $ | 3,148 |  | $ | 5,186 |  | $ | - |  | $ | 124,877
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 4,927 |  | $ | - |  | $ | 4,927
Six Months Ended June 30, 2014
Revenue | $ | 1,476,684 |  | $ | 634,956 |  | $ | 781,500 |  | $ | 88,722 |  | $ | - |  | $ | (9,160) |  | $ | 2,972,702
Direct operating expenses |  | 439,005 |  |  | 297,239 |  |  | 497,418 |  |  | 12,736 |  |  | - |  |  | (3,840) |  |  | 1,242,558
Selling, general and administrative expenses |  | 504,025 |  |  | 114,817 |  |  | 158,404 |  |  | 61,638 |  |  | - |  |  | (5,320) |  |  | 833,564
Depreciation and amortization |  | 119,555 |  |  | 99,559 |  |  | 96,220 |  |  | 17,374 |  |  | 16,225 |  |  | - |  |  | 348,933
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,902 |  |  | - |  |  | 4,902
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 154,902 |  |  | - |  |  | 154,902
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,463) |  |  | - |  |  | (1,463)
Operating income (loss) | $ | 414,099 |  | $ | 123,341 |  | $ | 29,458 |  | $ | (3,026) |  | $ | (177,492) |  | $ | - |  | $ | 386,380
Intersegment revenues | $ | - |  | $ | 2,070 |  | $ | - |  | $ | 7,090 |  | $ | - |  | $ | - |  | $ | 9,160
Capital expenditures | $ | 20,684 |  | $ | 38,127 |  | $ | 52,638 |  | $ | 2,886 |  | $ | 27,086 |  | $ | - |  | $ | 141,421
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 5,818 |  | $ | - |  | $ | 5,818

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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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: 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 3: 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 4: 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 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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: 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 8: 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 9: 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 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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: 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 13: 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 14: 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 + Details
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