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Segment Information
 12 Months Ended
Dec. 31, 2021
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.
Effective with the January 7, 2021 close of the ION acquisition, we realigned our internal reporting structure and changed the reporting of our businesses’ operating results to reflect this new structure. Under the new structure, our operating results are reported under Local Media, Scripps Networks and Other segment captions.
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; five 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, satellite carriers and over-the-top virtual MVPDs.

Our Scripps Networks segment, which includes the recently acquired ION business, is comprised of nine national television networks that reach nearly every U.S. television home through free over-the-air broadcast, cable/satellite, connected TV and digital distribution. These operations earn revenue primarily through the sale of advertising.
The operating results of the sold Triton business, and our other national businesses that were previously reported in our National Media segment, are aggregated with our remaining business activities in the Other segment caption.
Our respective business segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. We also allocate a portion of certain corporate costs and expenses, including information technology, certain employee benefits and shared services to our business segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount. Corporate assets are primarily cash and cash equivalents, restricted cash, property and equipment primarily used for corporate purposes and deferred income taxes.
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)202120202019
Segment operating revenues:
Local Media$1,319,468 $1,488,237 $1,032,709 
Scripps Networks951,883 309,076 270,060 
Other26,924 73,010 58,534 
Intersegment eliminations(14,743)(12,845)(9,904)
Total operating revenues$2,283,532 $1,857,478 $1,351,399 
Segment profit (loss):
Local Media$268,140 $444,243 $227,789 
Scripps Networks389,278 28,324 15,585 
Other359 18,173 13,720 
Shared services and corporate(75,576)(60,758)(57,409)
Acquisition and related integration costs(40,373)(18,678)(26,304)
Restructuring costs(9,436)— (3,370)
Depreciation and amortization of intangible assets(161,922)(107,155)(84,344)
Gains (losses), net on disposal of property and equipment30,275 (661)1,692 
Interest expense(165,164)(92,994)(80,596)
Loss on extinguishment of debt(15,347)— — 
Defined benefit pension plan expense(343)(4,388)(6,953)
Gain on sale of Triton business81,784 — — 
Losses on stock warrant(99,118)— — 
Miscellaneous, net(15,469)2,914 1,194 
Income from continuing operations before income taxes$187,088 $209,020 $1,004 
Depreciation:
Local Media$39,368 $42,934 $34,086 
Scripps Networks17,109 5,133 3,854 
Other382 854 596 
Shared services and corporate1,498 1,495 1,462 
Total depreciation$58,357 $50,416 $39,998 
Amortization of intangible assets:
Local Media$40,315 $37,848 $26,283 
Scripps Networks58,599 9,460 9,507 
Other2,147 8,077 7,203 
Shared services and corporate2,504 1,354 1,353 
Total amortization of intangible assets$103,565 $56,739 $44,346 
A disaggregation of the principal activities from which we generate revenue is as follows:
For the years ended December 31,
(in thousands)202120202019
Operating revenues:
Core advertising $1,592,121 $915,515 $861,386 
Political 22,693 272,066 23,263 
Retransmission and carriage 614,892 588,888 390,043 
Other53,826 81,009 76,707 
Total operating revenues $2,283,532 $1,857,478 $1,351,399 


The following table presents additions to property and equipment by segment:
For the years ended December 31,
(in thousands)202120202019
Additions to property and equipment:
Local Media$35,963 $42,611 $46,855 
Scripps Networks23,871 2,020 11,126 
Other430 1,200 1,366 
Shared services and corporate2,114 646 1,878 
Total additions to property and equipment$62,378 $46,477 $61,225 


Total assets by segment for the years ended December 31 were as follows:
As of December 31,
(in thousands)202120202019
Assets:
Local Media$2,431,730 $2,463,064 $2,694,667 
Scripps Networks3,865,046 526,887 486,593 
Other27,582 198,215 197,674 
Shared services and corporate333,956 1,671,220 81,657 
Total assets of continuing operations6,658,314 4,859,386 3,460,591 
Discontinued operations— — 101,266 
Total assets$6,658,314 $4,859,386 $3,561,857