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SEGMENT DATA (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of Reportable Segment Results | The following tables present the Company's segment results for the Successor Company for the periods presented:
Successor Company
(In thousands) | Audio |  | Audio & Media Services |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Three Months Ended September 30, 2020
Revenue | $ | 671,297 |  |  | $ | 75,039 |  |  | $ | — |  |  | $ | (1,930) |  |  | $ | 744,406 |
Direct operating expenses | 269,798 |  |  | 8,308 |  |  | — |  |  | (1,387) |  |  | 276,719 |
Selling, general and administrative expenses | 253,147 |  |  | 39,965 |  |  | — |  |  | (531) |  |  | 292,581 |
Corporate expenses | — |  |  | — |  |  | 34,669 |  |  | (12) |  |  | 34,657 |
Depreciation and amortization | 90,901 |  |  | 5,894 |  |  | 2,584 |  |  | — |  |  | 99,379 |
Impairment charges | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other operating expense, net | — |  |  | — |  |  | 1,675 |  |  | — |  |  | 1,675 |
Operating income (loss) | $ | 57,451 |  |  | $ | 20,872 |  |  | $ | (38,928) |  |  | $ | — |  |  | $ | 39,395 |
Intersegment revenues | $ | 168 |  |  | $ | 1,762 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,930 |
Capital expenditures | $ | 17,574 |  |  | $ | 850 |  |  | $ | 553 |  |  | $ | — |  |  | $ | 18,977 |
Share-based compensation expense | $ | — |  |  | $ | — |  |  | $ | 5,885 |  |  | $ | — |  |  | $ | 5,885 |
Three Months Ended September 30, 2019
Revenue | $ | 890,364 |  |  | $ | 59,873 |  |  | $ | — |  |  | $ | (1,899) |  |  | $ | 948,338 |
Direct operating expenses | 309,753 |  |  | 7,281 |  |  | — |  |  | (294) |  |  | 316,740 |
Selling, general and administrative expenses | 292,121 |  |  | 36,587 |  |  | — |  |  | (1,593) |  |  | 327,115 |
Corporate expenses | — |  |  | — |  |  | 58,525 |  |  | (12) |  |  | 58,513 |
Depreciation and amortization | 87,620 |  |  | 5,971 |  |  | 1,677 |  |  | — |  |  | 95,268 |
Other operating expense, net | — |  |  | — |  |  | 9,880 |  |  | — |  |  | 9,880 |
Operating income (loss) | $ | 200,870 |  |  | $ | 10,034 |  |  | $ | (70,082) |  |  | $ | — |  |  | $ | 140,822 |
Intersegment revenues | $ | 168 |  |  | $ | 1,731 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,899 |
Capital expenditures | $ | 23,705 |  |  | $ | 1,994 |  |  | $ | 3,171 |  |  | $ | — |  |  | $ | 28,870 |
Share-based compensation expense | $ | — |  |  | $ | — |  |  | $ | 17,112 |  |  | $ | — |  |  | $ | 17,112 |
The following table presents the Company's segment results for the Predecessor Company for the periods presented. The presentation of prior period amounts has been restated to conform to the presentation of the Successor period.
Predecessor Company
(In thousands) | Audio |  | Audio & Media Services |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Period from January 1, 2019 through May 1, 2019
Revenue | $ | 1,006,677 |  |  | $ | 69,362 |  |  | $ | — |  |  | $ | (2,568) |  |  | $ | 1,073,471 |
Direct operating expenses | 371,989 |  |  | 9,559 |  |  | — |  |  | (364) |  |  | 381,184 |
Selling, general and administrative expenses | 383,342 |  |  | 46,072 |  |  | — |  |  | (2,184) |  |  | 427,230 |
Corporate expenses |  |  |  |  | 53,667 |  |  | (20) |  |  | 53,647 |
Depreciation and amortization | 41,233 |  |  | 5,266 |  |  | 6,335 |  |  | — |  |  | 52,834 |
Impairment charges | — |  |  | — |  |  | 91,382 |  |  | — |  |  | 91,382 |
Other operating expense, net | — |  |  | — |  |  | 154 |  |  | — |  |  | 154 |
Operating income (loss) | $ | 210,113 |  |  | $ | 8,465 |  |  | $ | (151,538) |  |  | $ | — |  |  | $ | 67,040 |
Intersegment revenues | $ | 243 |  |  | $ | 2,325 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,568 |
Capital expenditures | $ | 31,177 |  |  | $ | 1,263 |  |  | $ | 3,757 |  |  | $ | — |  |  | $ | 36,197 |
Share-based compensation expense | $ | — |  |  | $ | — |  |  | $ | 498 |  |  | $ | — |  |  | $ | 498 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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