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Segment Data | 9 Months Ended
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Sep. 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 nine months ended September 30, 2015 and 2014:
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Three Months Ended September 30, 2015
Revenue | $ | 846,865 |  | $ | 347,336 |  | $ | 348,941 |  | $ | 39,358 |  | $ | - |  | $ | (2,986) |  | $ | 1,579,514
Direct operating expenses |  | 253,848 |  |  | 149,072 |  |  | 223,644 |  |  | 3,174 |  |  | - |  |  | (1,896) |  |  | 627,842
Selling, general and administrative expenses |  | 272,349 |  |  | 59,539 |  |  | 73,020 |  |  | 25,149 |  |  | - |  |  | (1,090) |  |  | 428,967
Depreciation and amortization |  | 59,408 |  |  | 50,121 |  |  | 41,564 |  |  | 5,896 |  |  | 9,331 |  |  | - |  |  | 166,320
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 21,631 |  |  | - |  |  | 21,631
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 74,542 |  |  | - |  |  | 74,542
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 6,914 |  |  | - |  |  | 6,914
Operating income (loss) | $ | 261,260 |  | $ | 88,604 |  | $ | 10,713 |  | $ | 5,139 |  | $ | (98,590) |  | $ | - |  | $ | 267,126
Intersegment revenues | $ | - |  | $ | 347 |  | $ | - |  | $ | 2,639 |  | $ | - |  | $ | - |  | $ | 2,986
Capital expenditures | $ | 13,533 |  | $ | 18,557 |  | $ | 28,665 |  | $ | 1,444 |  | $ | 5,416 |  | $ | - |  | $ | 67,615
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,991 |  | $ | - |  | $ | 2,991
Three Months Ended September 30, 2014
Revenue | $ | 830,509 |  | $ | 350,464 |  | $ | 392,330 |  | $ | 61,096 |  | $ | - |  | $ | (4,365) |  | $ | 1,630,034
Direct operating expenses |  | 244,945 |  |  | 151,550 |  |  | 249,284 |  |  | 5,103 |  |  | - |  |  | (2,473) |  |  | 648,409
Selling, general and administrative expenses |  | 259,283 |  |  | 60,994 |  |  | 78,619 |  |  | 30,245 |  |  | - |  |  | (1,882) |  |  | 427,259
Depreciation and amortization |  | 59,359 |  |  | 51,303 |  |  | 47,775 |  |  | 8,389 |  |  | 9,039 |  |  | - |  |  | 175,865
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 35 |  |  | - |  |  | 35
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 78,212 |  |  | (10) |  |  | 78,202
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 47,172 |  |  | - |  |  | 47,172
Operating income (loss) | $ | 266,922 |  | $ | 86,617 |  | $ | 16,652 |  | $ | 17,359 |  | $ | (40,114) |  | $ | - |  | $ | 347,436
Intersegment revenues | $ | 10 |  | $ | 721 |  | $ | - |  | $ | 3,634 |  | $ | - |  | $ | - |  | $ | 4,365
Capital expenditures | $ | 9,336 |  | $ | 22,392 |  | $ | 19,448 |  | $ | 1,235 |  | $ | 1,176 |  | $ | - |  | $ | 53,587
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,246 |  | $ | - |  | $ | 2,246
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Nine Months Ended September 30, 2015
Revenue | $ | 2,385,367 |  | $ | 984,485 |  | $ | 1,049,654 |  | $ | 114,860 |  | $ | - |  | $ | (10,429) |  | $ | 4,523,937
Direct operating expenses |  | 709,503 |  |  | 445,018 |  |  | 663,011 |  |  | 9,611 |  |  | - |  |  | (5,517) |  |  | 1,821,626
Selling, general and administrative expenses |  | 800,221 |  |  | 172,522 |  |  | 219,689 |  |  | 81,798 |  |  | - |  |  | (4,912) |  |  | 1,269,318
Depreciation and amortization |  | 179,721 |  |  | 151,574 |  |  | 124,961 |  |  | 21,173 |  |  | 27,738 |  |  | - |  |  | 505,167
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 21,631 |  |  | - |  |  | 21,631
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 232,422 |  |  | - |  |  | 232,422
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 98,694 |  |  | - |  |  | 98,694
Operating income (loss) | $ | 695,922 |  | $ | 215,371 |  | $ | 41,993 |  | $ | 2,278 |  | $ | (183,097) |  | $ | - |  | $ | 772,467
Intersegment revenues | $ | - |  | $ | 2,510 |  | $ | - |  | $ | 7,919 |  | $ | - |  | $ | - |  | $ | 10,429
Capital expenditures | $ | 40,860 |  | $ | 50,916 |  | $ | 85,522 |  | $ | 4,592 |  | $ | 10,602 |  | $ | - |  | $ | 192,492
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 7,918 |  | $ | - |  | $ | 7,918
Nine Months Ended September 30, 2014
Revenue | $ | 2,307,193 |  | $ | 985,420 |  | $ | 1,173,830 |  | $ | 149,818 |  | $ | - |  | $ | (13,525) |  | $ | 4,602,736
Direct operating expenses |  | 683,950 |  |  | 448,789 |  |  | 746,702 |  |  | 17,839 |  |  | - |  |  | (6,313) |  |  | 1,890,967
Selling, general and administrative expenses |  | 763,308 |  |  | 175,811 |  |  | 237,023 |  |  | 91,883 |  |  | - |  |  | (7,202) |  |  | 1,260,823
Depreciation and amortization |  | 178,914 |  |  | 150,862 |  |  | 143,995 |  |  | 25,763 |  |  | 25,264 |  |  | - |  |  | 524,798
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,937 |  |  | - |  |  | 4,937
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 233,114 |  |  | (10) |  |  | 233,104
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 45,709 |  |  | - |  |  | 45,709
Operating income (loss) | $ | 681,021 |  | $ | 209,958 |  | $ | 46,110 |  | $ | 14,333 |  | $ | (217,606) |  | $ | - |  | $ | 733,816
Intersegment revenues | $ | 10 |  | $ | 2,791 |  | $ | - |  | $ | 10,724 |  | $ | - |  | $ | - |  | $ | 13,525
Capital expenditures | $ | 30,020 |  | $ | 60,519 |  | $ | 72,086 |  | $ | 4,121 |  | $ | 28,262 |  | $ | - |  | $ | 195,008
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 8,064 |  | $ | - |  | $ | 8,064

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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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