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v3.22.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
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) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Segment operating revenues: |  |  |  |  |  |  |  |
Local Media |  | $ | 355,819 |  |  | $ | 324,837 |  |  | $ | 682,480 |  |  | $ | 637,418 |
Scripps Networks |  | 238,929 |  |  | 238,735 |  |  | 477,997 |  |  | 452,395 |
Other |  | 3,893 |  |  | 5,050 |  |  | 8,044 |  |  | 23,171 |
Intersegment eliminations |  | (4,174) |  |  | (3,545) |  |  | (8,348) |  |  | (6,986) |
Total operating revenues |  | $ | 594,467 |  |  | $ | 565,077 |  |  | $ | 1,160,173 |  |  | $ | 1,105,998 |
Segment profit (loss): |  |  |  |  |  |  |  |
Local Media |  | $ | 80,742 |  |  | $ | 64,643 |  |  | $ | 135,135 |  |  | $ | 120,580 |
Scripps Networks |  | 73,297 |  |  | 107,317 |  |  | 158,373 |  |  | 199,520 |
Other |  | (4,349) |  |  | (541) |  |  | (5,462) |  |  | 2,740 |
Shared services and corporate |  | (18,115) |  |  | (19,138) |  |  | (41,326) |  |  | (38,059) |
Acquisition and related integration costs |  | — |  |  | (6,686) |  |  | (1,642) |  |  | (35,331) |
Restructuring costs |  | — |  |  | (514) |  |  | — |  |  | (7,564) |
Depreciation and amortization of intangible assets |  | (41,019) |  |  | (40,751) |  |  | (80,764) |  |  | (80,258) |
Gains (losses), net on disposal of property and equipment |  | (1,577) |  |  | (75) |  |  | (4,058) |  |  | (155) |
Interest expense |  | (36,011) |  |  | (42,010) |  |  | (72,510) |  |  | (85,892) |
Gain (loss) on extinguishment of debt |  | — |  |  | (13,775) |  |  | 1,234 |  |  | (13,775) |
Defined benefit pension plan income |  | 662 |  |  | 7 |  |  | 1,325 |  |  | 14 |
Gain on sale of Triton business |  | — |  |  | — |  |  | — |  |  | 81,784 |
Losses on stock warrant |  | — |  |  | (31,874) |  |  | — |  |  | (99,118) |
Miscellaneous, net |  | 2,170 |  |  | (2,707) |  |  | 1,763 |  |  | (7,558) |
Income from continuing operations before income taxes |  | $ | 55,800 |  |  | $ | 13,896 |  |  | $ | 92,068 |  |  | $ | 36,928 |
Depreciation: |  |  |  |  |  |  |  |
Local Media |  | $ | 10,526 |  |  | $ | 9,854 |  |  | $ | 20,668 |  |  | $ | 19,539 |
Scripps Networks |  | 4,830 |  |  | 3,983 |  |  | 9,615 |  |  | 7,818 |
Other |  | 44 |  |  | 45 |  |  | 88 |  |  | 294 |
Shared services and corporate |  | 412 |  |  | 363 |  |  | 811 |  |  | 719 |
Total depreciation |  | $ | 15,812 |  |  | $ | 14,245 |  |  | $ | 31,182 |  |  | $ | 28,370 |
Amortization of intangible assets: |  |  |  |  |  |  |  |
Local Media |  | $ | 8,981 |  |  | $ | 9,085 |  |  | $ | 17,961 |  |  | $ | 18,682 |
Scripps Networks |  | 14,209 |  |  | 16,770 |  |  | 28,418 |  |  | 29,887 |
Other |  | 471 |  |  | — |  |  | 952 |  |  | 2,147 |
Shared services and corporate |  | 1,546 |  |  | 651 |  |  | 2,251 |  |  | 1,172 |
Total amortization of intangible assets |  | $ | 25,207 |  |  | $ | 26,506 |  |  | $ | 49,582 |  |  | $ | 51,888 |
Additions to property and equipment: |  |  |  |  |  |  |  |
Local Media |  | $ | 6,901 |  |  | $ | 13,295 |  |  | $ | 16,214 |  |  | $ | 18,749 |
Scripps Networks |  | 5,227 |  |  | 8,923 |  |  | 8,436 |  |  | 10,412 |
Other |  | 36 |  |  | — |  |  | 45 |  |  | 430 |
Shared services and corporate |  | 204 |  |  | 441 |  |  | 260 |  |  | 460 |
Total additions to property and equipment |  | $ | 12,368 |  |  | $ | 22,659 |  |  | $ | 24,955 |  |  | $ | 30,051 |
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) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating revenues: |  |  |  |  |  |  |  |
Core advertising |  | $ | 389,261 |  |  | $ | 393,459 |  |  | $ | 781,796 |  |  | $ | 754,762 |
Political |  | 24,886 |  |  | 3,193 |  |  | 30,832 |  |  | 4,504 |
Retransmission and carriage fees |  | 170,304 |  |  | 156,421 |  |  | 326,124 |  |  | 312,918 |
Other |  | 10,016 |  |  | 12,004 |  |  | 21,421 |  |  | 33,814 |
Total operating revenues |  | $ | 594,467 |  |  | $ | 565,077 |  |  | $ | 1,160,173 |  |  | $ | 1,105,998 |

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