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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Information regarding business segments | Information regarding our business segments is as follows:
|  | For the years ended December 31, |  |  |  |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Segment operating revenues: |  |  |  |  |  |
Local Media |  | $ | 1,022,805 |  |  | $ | 917,480 |  |  | $ | 778,376 |
National Media |  | 323,674 |  |  | 235,107 |  |  | 61,942 |
Other |  | 4,920 |  |  | 4,775 |  |  | 5,455 |
Total operating revenues |  | $ | 1,351,399 |  |  | $ | 1,157,362 |  |  | $ | 845,773 |
Segment profit (loss): |  |  |  |  |  |
Local Media |  | $ | 217,885 |  |  | $ | 251,119 |  |  | $ | 156,890 |
National Media |  | 43,166 |  |  | 29,168 |  |  | (6,656) |
Other |  | (3,957) |  |  | (3,680) |  |  | (2,361) |
Shared services and corporate |  | (57,409) |  |  | (53,123) |  |  | (50,506) |
Acquisition and related integration costs |  | (26,304) |  |  | (4,124) |  |  | — |
Restructuring costs |  | (3,370) |  |  | (8,911) |  |  | (4,422) |
Depreciation and amortization of intangible assets |  | (84,344) |  |  | (60,711) |  |  | (52,906) |
Impairment of goodwill and intangible assets |  | — |  |  | — |  |  | (35,732) |
Gains (losses), net on disposal of property and equipment |  | 1,692 |  |  | (1,255) |  |  | (169) |
Interest expense |  | (80,596) |  |  | (36,184) |  |  | (26,552) |
Defined benefit pension plan expense |  | (6,953) |  |  | (19,752) |  |  | (14,112) |
Miscellaneous, net |  | 1,194 |  |  | 123 |  |  | 7,436 |
Income (loss) from continuing operations before income taxes |  | $ | 1,004 |  |  | $ | 92,670 |  |  | $ | (29,090) |
Depreciation: |  |  |  |  |  |
Local Media |  | $ | 34,086 |  |  | $ | 30,467 |  |  | $ | 31,870 |
National Media |  | 4,302 |  |  | 2,336 |  |  | 88 |
Other |  | 148 |  |  | 150 |  |  | 208 |
Shared services and corporate |  | 1,462 |  |  | 1,432 |  |  | 1,883 |
Total depreciation |  | $ | 39,998 |  |  | $ | 34,385 |  |  | $ | 34,049 |
Amortization of intangible assets: |  |  |  |  |  |
Local Media |  | $ | 26,283 |  |  | $ | 14,821 |  |  | $ | 15,084 |
National Media |  | 16,710 |  |  | 10,152 |  |  | 2,419 |
Shared services and corporate |  | 1,353 |  |  | 1,353 |  |  | 1,354 |
Total amortization of intangible assets |  | $ | 44,346 |  |  | $ | 26,326 |  |  | $ | 18,857 |
The following table presents additions to property and equipment by segment:
|  | For the years ended December 31, |  |  |  |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Additions to property and equipment: |  |  |  |  |  |
Local Media |  | $ | 46,855 |  |  | $ | 37,773 |  |  | $ | 16,946 |
National Media |  | 11,963 |  |  | 9,004 |  |  | 289 |
Other |  | 529 |  |  | — |  |  | — |
Shared services and corporate |  | 1,878 |  |  | 723 |  |  | 367 |
Total additions to property and equipment |  | $ | 61,225 |  |  | $ | 47,500 |  |  | $ | 17,602 |
Total assets by segment for the years ended December 31 were as follows:
|  | As of December 31, |  |  |  |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Assets: |  |  |  |  |  |
Local Media |  | $ | 2,694,667 |  |  | $ | 1,261,526 |  |  | $ | 1,273,735 |
National Media |  | 680,764 |  |  | 655,718 |  |  | 459,694 |
Other |  | 3,503 |  |  | 865 |  |  | 2,128 |
Shared services and corporate |  | 81,657 |  |  | 129,969 |  |  | 189,433 |
Total assets of continuing operations |  | 3,460,591 |  |  | 2,048,078 |  |  | 1,924,990 |
Discontinued operations |  | 101,266 |  |  | 82,269 |  |  | 204,789 |
Total assets |  | $ | 3,561,857 |  |  | $ | 2,130,347 |  |  | $ | 2,129,779 |
Disaggregation of revenue | A disaggregation of the principal activities from which we generate revenue is as follows:
|  | For the years ended December 31, |  |  |  |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Operating revenues: |  |  |  |  |  |
Core advertising |  | $ | 861,386 |  |  | $ | 686,229 |  |  | $ | 548,457 |
Political |  | 23,263 |  |  | 139,600 |  |  | 8,651 |
Retransmission and carriage |  | 390,043 |  |  | 304,402 |  |  | 259,712 |
Other |  | 76,707 |  |  | 27,131 |  |  | 28,953 |
Total operating revenues |  | $ | 1,351,399 |  |  | $ | 1,157,362 |  |  | $ | 845,773 |

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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=115929826&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=115929826&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=108376223&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 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: 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=115929826&loc=d3e8906-108599 + Details
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