XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of information regarding business segments | Information regarding our business segments is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Segment operating revenues: |  |  |  |  |  |  |  |
Local Media |  | $ | 445,553 |  |  | $ | 353,061 |  |  | $ | 1,163,315 |  |  | $ | 1,017,203 |
Scripps Networks |  | 201,672 |  |  | 215,393 |  |  | 619,670 |  |  | 663,095 |
Other |  | 3,843 |  |  | 2,620 |  |  | 12,702 |  |  | 10,149 |
Intersegment eliminations |  | (4,768) |  |  | (4,545) |  |  | (14,294) |  |  | (13,304) |
Total operating revenues |  | $ | 646,300 |  |  | $ | 566,529 |  |  | $ | 1,781,393 |  |  | $ | 1,677,143 |
Segment profit (loss): |  |  |  |  |  |  |  |
Local Media |  | $ | 160,685 |  |  | $ | 74,865 |  |  | $ | 314,371 |  |  | $ | 201,725 |
Scripps Networks |  | 42,061 |  |  | 49,661 |  |  | 129,462 |  |  | 161,530 |
Other |  | (7,744) |  |  | (6,263) |  |  | (23,377) |  |  | (14,074) |
Shared services and corporate |  | (20,969) |  |  | (20,810) |  |  | (64,195) |  |  | (67,546) |
Restructuring costs |  | (12,665) |  |  | (4,705) |  |  | (18,653) |  |  | (29,208) |
Depreciation and amortization of intangible assets |  | (38,861) |  |  | (38,588) |  |  | (116,017) |  |  | (115,759) |
Impairment of goodwill |  | — |  |  | — |  |  | — |  |  | (686,000) |
Gains (losses), net on disposal of property and equipment |  | (727) |  |  | (1,066) |  |  | (717) |  |  | (2,320) |
Interest expense |  | (54,442) |  |  | (56,916) |  |  | (161,482) |  |  | (158,029) |
Defined benefit pension plan income |  | 152 |  |  | 251 |  |  | 506 |  |  | 519 |
Miscellaneous, net |  | 447 |  |  | 1,309 |  |  | 16,849 |  |  | 131 |
Income (loss) from operations before income taxes |  | $ | 67,937 |  |  | $ | (2,262) |  |  | $ | 76,747 |  |  | $ | (709,031) |
Depreciation: |  |  |  |  |  |  |  |
Local Media |  | $ | 10,842 |  |  | $ | 9,881 |  |  | $ | 31,028 |  |  | $ | 29,521 |
Scripps Networks |  | 4,698 |  |  | 4,892 |  |  | 14,242 |  |  | 14,558 |
Other |  | 56 |  |  | 47 |  |  | 186 |  |  | 137 |
Shared services and corporate |  | 215 |  |  | 280 |  |  | 625 |  |  | 1,074 |
Total depreciation |  | $ | 15,811 |  |  | $ | 15,100 |  |  | $ | 46,081 |  |  | $ | 45,290 |
Amortization of intangible assets: |  |  |  |  |  |  |  |
Local Media |  | $ | 8,550 |  |  | $ | 8,980 |  |  | $ | 26,211 |  |  | $ | 26,941 |
Scripps Networks |  | 12,838 |  |  | 13,009 |  |  | 38,791 |  |  | 39,027 |
Other |  | 450 |  |  | 447 |  |  | 1,346 |  |  | 1,345 |
Shared services and corporate |  | 1,212 |  |  | 1,052 |  |  | 3,588 |  |  | 3,156 |
Total amortization of intangible assets |  | $ | 23,050 |  |  | $ | 23,488 |  |  | $ | 69,936 |  |  | $ | 70,469 |
Additions to property and equipment: |  |  |  |  |  |  |  |
Local Media |  | $ | 7,474 |  |  | $ | 15,123 |  |  | $ | 40,878 |  |  | $ | 36,530 |
Scripps Networks |  | 4,393 |  |  | 1,225 |  |  | 10,847 |  |  | 3,920 |
Other |  | 175 |  |  | — |  |  | 902 |  |  | 34 |
Shared services and corporate |  | 1,409 |  |  | 495 |  |  | 1,870 |  |  | 1,469 |
Total additions to property and equipment |  | $ | 13,451 |  |  | $ | 16,843 |  |  | $ | 54,497 |  |  | $ | 41,953 |
Schedule of 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) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating revenues: |  |  |  |  |  |  |  |
Core advertising |  | $ | 315,849 |  |  | $ | 346,037 |  |  | $ | 986,141 |  |  | $ | 1,061,868 |
Political |  | 131,403 |  |  | 9,130 |  |  | 176,850 |  |  | 16,501 |
Distribution |  | 191,772 |  |  | 203,859 |  |  | 593,931 |  |  | 571,320 |
Other |  | 7,276 |  |  | 7,503 |  |  | 24,471 |  |  | 27,454 |
Total operating revenues |  | $ | 646,300 |  |  | $ | 566,529 |  |  | $ | 1,781,393 |  |  | $ | 1,677,143 |

X
- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration