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v3.21.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Information regarding business segments | Information regarding our business segments is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Segment operating revenues: |  |  |  |  |  |  |  |
Local Media |  | $ | 324,837 |  |  | $ | 279,944 |  |  | $ | 637,418 |  |  | $ | 604,877 |
Scripps Networks |  | 238,735 |  |  | 66,652 |  |  | 452,395 |  |  | 143,407 |
Other |  | 5,050 |  |  | 15,484 |  |  | 23,171 |  |  | 31,148 |
Intersegment eliminations |  | (3,545) |  |  | (3,197) |  |  | (6,986) |  |  | (6,326) |
Total operating revenues |  | $ | 565,077 |  |  | $ | 358,883 |  |  | $ | 1,105,998 |  |  | $ | 773,106 |
Segment profit (loss): |  |  |  |  |  |  |  |
Local Media |  | $ | 64,643 |  |  | $ | 35,457 |  |  | $ | 120,580 |  |  | $ | 94,563 |
Scripps Networks |  | 107,317 |  |  | 2,153 |  |  | 199,520 |  |  | 12,122 |
Other |  | (541) |  |  | 5,036 |  |  | 2,740 |  |  | 9,227 |
Shared services and corporate |  | (19,138) |  |  | (12,923) |  |  | (38,059) |  |  | (31,577) |
Acquisition and related integration costs |  | (6,686) |  |  | (221) |  |  | (35,331) |  |  | (5,131) |
Restructuring costs |  | (514) |  |  | — |  |  | (7,564) |  |  | — |
Depreciation and amortization of intangible assets |  | (40,751) |  |  | (26,645) |  |  | (80,258) |  |  | (53,990) |
Gains (losses), net on disposal of property and equipment |  | (75) |  |  | (1,307) |  |  | (155) |  |  | (2,740) |
Interest expense |  | (42,010) |  |  | (22,999) |  |  | (85,892) |  |  | (48,797) |
Loss on extinguishment of debt |  | (13,775) |  |  | — |  |  | (13,775) |  |  | — |
Defined benefit pension plan income (expense) |  | 7 |  |  | (1,026) |  |  | 14 |  |  | (2,052) |
Gains on sale of business |  | — |  |  | — |  |  | 81,784 |  |  | — |
Losses on stock warrants |  | (31,874) |  |  | — |  |  | (99,118) |  |  | — |
Miscellaneous, net |  | (2,707) |  |  | (1,552) |  |  | (7,558) |  |  | (438) |
Income (loss) from continuing operations before income taxes |  | $ | 13,896 |  |  | $ | (24,027) |  |  | $ | 36,928 |  |  | $ | (28,813) |
Depreciation: |  |  |  |  |  |  |  |
Local Media |  | $ | 9,854 |  |  | $ | 10,774 |  |  | $ | 19,539 |  |  | $ | 22,264 |
Scripps Networks |  | 3,983 |  |  | 1,039 |  |  | 7,818 |  |  | 2,334 |
Other |  | 45 |  |  | 196 |  |  | 294 |  |  | 381 |
Shared services and corporate |  | 363 |  |  | 387 |  |  | 719 |  |  | 768 |
Total depreciation |  | $ | 14,245 |  |  | $ | 12,396 |  |  | $ | 28,370 |  |  | $ | 25,747 |
Amortization of intangible assets: |  |  |  |  |  |  |  |
Local Media |  | $ | 9,085 |  |  | $ | 9,399 |  |  | $ | 18,682 |  |  | $ | 19,320 |
Scripps Networks |  | 16,770 |  |  | 2,521 |  |  | 29,887 |  |  | 4,356 |
Other |  | — |  |  | 1,991 |  |  | 2,147 |  |  | 3,891 |
Shared services and corporate |  | 651 |  |  | 338 |  |  | 1,172 |  |  | 676 |
Total amortization of intangible assets |  | $ | 26,506 |  |  | $ | 14,249 |  |  | $ | 51,888 |  |  | $ | 28,243 |
Additions to property and equipment: |  |  |  |  |  |  |  |
Local Media |  | $ | 13,295 |  |  | $ | 11,776 |  |  | $ | 18,749 |  |  | $ | 26,217 |
Scripps Networks |  | 8,923 |  |  | — |  |  | 10,412 |  |  | 1,591 |
Other |  | — |  |  | 232 |  |  | 430 |  |  | 455 |
Shared services and corporate |  | 441 |  |  | 102 |  |  | 460 |  |  | 216 |
Total additions to property and equipment |  | $ | 22,659 |  |  | $ | 12,110 |  |  | $ | 30,051 |  |  | $ | 28,479 |
Disaggregation of Principal Revenue Generating Activities | A disaggregation of the principal activities from which we generate revenue is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Operating revenues: |  |  |  |  |  |  |  |
Core advertising |  | $ | 393,459 |  |  | $ | 182,089 |  |  | $ | 754,762 |  |  | $ | 417,910 |
Political |  | 3,193 |  |  | 13,368 |  |  | 4,504 |  |  | 32,088 |
Retransmission and carriage fees |  | 156,421 |  |  | 144,283 |  |  | 312,918 |  |  | 283,233 |
Other |  | 12,004 |  |  | 19,143 |  |  | 33,814 |  |  | 39,875 |
Total operating revenues |  | $ | 565,077 |  |  | $ | 358,883 |  |  | $ | 1,105,998 |  |  | $ | 773,106 |

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