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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
We determine our business segments based upon our management and internal reporting structure, as well as the basis that our chief operating decision maker makes resource allocation decisions. We report our financial performance based on the following segments: Local Media, National Media, Other.
Our Local Media segment includes our 61 local broadcast stations and their related digital operations. It is comprised of 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. We also have 12 CW affiliates - four on full power stations and eight on multicast; two MyNetworkTV affiliates; three independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunication companies and satellite carriers. We also receive retransmission fees from over-the-top virtual MVPDs such as Hulu, YouTubeTV and AT&T Now.

Our National Media segment includes our collection of national brands. Our national media brands include Katz, Newsy, Triton and other national brands. These operations earn revenue primarily through the sale of advertising.
We allocate a portion of certain corporate costs and expenses, including information technology, certain employee benefits and shared services, to our business segments. The allocations are generally amounts agreed upon by management, which may differ from an arms-length amount.
Our chief operating decision maker evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan expense, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America.
Information regarding our business segments is as follows:
For the years ended December 31,
(in thousands)202020192018
Segment operating revenues:
Local Media$1,475,392 $1,022,805 $917,480 
National Media378,218 323,674 235,107 
Other3,868 4,920 4,775 
Total operating revenues$1,857,478 $1,351,399 $1,157,362 
Segment profit (loss):
Local Media$431,398 $217,885 $251,119 
National Media62,538 43,166 29,168 
Other(3,196)(3,957)(3,680)
Shared services and corporate(60,758)(57,409)(53,123)
Acquisition and related integration costs(18,678)(26,304)(4,124)
Restructuring costs— (3,370)(8,911)
Depreciation and amortization of intangible assets(107,155)(84,344)(60,711)
Gains (losses), net on disposal of property and equipment(661)1,692 (1,255)
Interest expense(92,994)(80,596)(36,184)
Defined benefit pension plan expense(4,388)(6,953)(19,752)
Miscellaneous, net2,914 1,194 123 
Income from continuing operations before income taxes$209,020 $1,004 $92,670 
Depreciation:
Local Media$42,934 $34,086 $30,467 
National Media5,788 4,302 2,336 
Other199 148 150 
Shared services and corporate1,495 1,462 1,432 
Total depreciation$50,416 $39,998 $34,385 
Amortization of intangible assets:
Local Media$37,848 $26,283 $14,821 
National Media17,537 16,710 10,152 
Shared services and corporate1,354 1,353 1,353 
Total amortization of intangible assets$56,739 $44,346 $26,326 

A disaggregation of the principal activities from which we generate revenue is as follows:
For the years ended December 31,
(in thousands)202020192018
Operating revenues:
Core advertising $915,515 $861,386 $686,229 
Political 272,066 23,263 139,600 
Retransmission and carriage 588,888 390,043 304,402 
Other81,009 76,707 27,131 
Total operating revenues $1,857,478 $1,351,399 $1,157,362 
The following table presents additions to property and equipment by segment:
For the years ended December 31,
(in thousands)202020192018
Additions to property and equipment:
Local Media$42,611 $46,855 $37,773 
National Media3,079 11,963 9,004 
Other141 529 — 
Shared services and corporate646 1,878 723 
Total additions to property and equipment$46,477 $61,225 $47,500 

Total assets by segment for the years ended December 31 were as follows:
As of December 31,
(in thousands)202020192018
Assets:
Local Media$2,463,064 $2,694,667 $1,261,526 
National Media721,805 680,764 655,718 
Other3,297 3,503 865 
Shared services and corporate1,671,220 81,657 129,969 
Total assets of continuing operations4,859,386 3,460,591 2,048,078 
Discontinued operations— 101,266 82,269 
Total assets$4,859,386 $3,561,857 $2,130,347