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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Information regarding business segments | Information regarding our business segments is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Segment operating revenues: |  |  |  |  |  |  |  |
Local Media |  | $ | 378,438 |  |  | $ | 331,316 |  |  | $ | 1,060,918 |  |  | $ | 968,734 |
Scripps Networks |  | 235,401 |  |  | 226,550 |  |  | 713,398 |  |  | 678,945 |
Other |  | 2,594 |  |  | 1,207 |  |  | 10,638 |  |  | 24,378 |
Intersegment eliminations |  | (4,332) |  |  | (3,830) |  |  | (12,680) |  |  | (10,816) |
Total operating revenues |  | $ | 612,101 |  |  | $ | 555,243 |  |  | $ | 1,772,274 |  |  | $ | 1,661,241 |
Segment profit (loss): |  |  |  |  |  |  |  |
Local Media |  | $ | 99,607 |  |  | $ | 65,391 |  |  | $ | 234,742 |  |  | $ | 185,971 |
Scripps Networks |  | 71,984 |  |  | 83,327 |  |  | 230,357 |  |  | 282,847 |
Other |  | (6,791) |  |  | (2,227) |  |  | (12,253) |  |  | 513 |
Shared services and corporate |  | (19,611) |  |  | (17,768) |  |  | (60,937) |  |  | (55,827) |
Acquisition and related integration costs |  | — |  |  | (251) |  |  | (1,642) |  |  | (35,582) |
Restructuring costs |  | — |  |  | (1,872) |  |  | — |  |  | (9,436) |
Depreciation and amortization of intangible assets |  | (39,565) |  |  | (42,086) |  |  | (120,329) |  |  | (122,344) |
Gains (losses), net on disposal of property and equipment |  | (1,593) |  |  | 31,109 |  |  | (5,651) |  |  | 30,954 |
Interest expense |  | (41,917) |  |  | (41,013) |  |  | (114,427) |  |  | (126,905) |
Gain (loss) on extinguishment of debt |  | — |  |  | — |  |  | 1,234 |  |  | (13,775) |
Defined benefit pension plan income (expense) |  | 683 |  |  | (264) |  |  | 2,008 |  |  | (250) |
Gain on sale of Triton business |  | — |  |  | — |  |  | — |  |  | 81,784 |
Losses on stock warrant |  | — |  |  | — |  |  | — |  |  | (99,118) |
Miscellaneous, net |  | (494) |  |  | 674 |  |  | 1,269 |  |  | (6,884) |
Income from continuing operations before income taxes |  | $ | 62,303 |  |  | $ | 75,020 |  |  | $ | 154,371 |  |  | $ | 111,948 |
Depreciation: |  |  |  |  |  |  |  |
Local Media |  | $ | 9,997 |  |  | $ | 9,877 |  |  | $ | 30,665 |  |  | $ | 29,416 |
Scripps Networks |  | 4,889 |  |  | 4,645 |  |  | 14,504 |  |  | 12,463 |
Other |  | 45 |  |  | 44 |  |  | 133 |  |  | 338 |
Shared services and corporate |  | 409 |  |  | 373 |  |  | 1,220 |  |  | 1,092 |
Total depreciation |  | $ | 15,340 |  |  | $ | 14,939 |  |  | $ | 46,522 |  |  | $ | 43,309 |
Amortization of intangible assets: |  |  |  |  |  |  |  |
Local Media |  | $ | 8,520 |  |  | $ | 12,016 |  |  | $ | 26,481 |  |  | $ | 30,698 |
Scripps Networks |  | 14,209 |  |  | 14,503 |  |  | 42,627 |  |  | 44,390 |
Other |  | 471 |  |  | — |  |  | 1,423 |  |  | 2,147 |
Shared services and corporate |  | 1,025 |  |  | 628 |  |  | 3,276 |  |  | 1,800 |
Total amortization of intangible assets |  | $ | 24,225 |  |  | $ | 27,147 |  |  | $ | 73,807 |  |  | $ | 79,035 |
Additions to property and equipment: |  |  |  |  |  |  |  |
Local Media |  | $ | 6,803 |  |  | $ | 8,317 |  |  | $ | 23,017 |  |  | $ | 27,066 |
Scripps Networks |  | 2,241 |  |  | 6,960 |  |  | 10,677 |  |  | 17,372 |
Other |  | 9 |  |  | — |  |  | 54 |  |  | 430 |
Shared services and corporate |  | 71 |  |  | 869 |  |  | 331 |  |  | 1,329 |
Total additions to property and equipment |  | $ | 9,124 |  |  | $ | 16,146 |  |  | $ | 34,079 |  |  | $ | 46,197 |
Disaggregation of principal revenue generating activities | A disaggregation of the principal activities from which we generate revenue is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating revenues: |  |  |  |  |  |  |  |
Core advertising |  | $ | 371,064 |  |  | $ | 387,643 |  |  | $ | 1,152,860 |  |  | $ | 1,142,405 |
Political |  | 65,715 |  |  | 7,087 |  |  | 96,547 |  |  | 11,591 |
Retransmission and carriage fees |  | 165,464 |  |  | 151,828 |  |  | 491,588 |  |  | 464,746 |
Other |  | 9,858 |  |  | 8,685 |  |  | 31,279 |  |  | 42,499 |
Total operating revenues |  | $ | 612,101 |  |  | $ | 555,243 |  |  | $ | 1,772,274 |  |  | $ | 1,661,241 |

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