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Segment Information (Tables)

9 Months Ended

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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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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