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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Information Regarding Business Segments | Information regarding our segments is as follows:
|  | For the year ended December 31, 2024
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 1,655,257 |  |  | $ | 835,809 |  |  | $ | 2,491,066 |
Intersegment revenues |  | 19,061 |  |  | — |  |  | 19,061 |
Reportable segments revenues |  | 1,674,318 |  |  | 835,809 |  |  | 2,510,127 |
Other revenues(a) |  |  |  |  |  | 18,706 |
Intersegment eliminations |  |  |  |  |  | (19,061) |
Total consolidated operating revenues |  |  |  |  |  | $ | 2,509,772 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 437,345 |  |  | 120,862 |  |  |
Programming(c) |  | 521,615 |  |  | 354,281 |  |  |
Other segment items(d) |  | 202,140 |  |  | 170,491 |  |  |
Segment profit for reportable segments |  | 513,218 |  |  | 190,175 |  |  | $ | 703,393 |
Other segment profit (loss)(a) |  |  |  |  |  | (31,632) |
Shared services and corporate |  |  |  |  |  | (88,941) |
Restructuring costs |  |  |  |  |  | (33,525) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (155,228) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | 18,424 |
Interest expense |  |  |  |  |  | (210,344) |
Defined benefit pension plan income |  |  |  |  |  | 674 |
Miscellaneous, net |  |  |  |  |  | 7,160 |
Income (loss) from operations before income taxes |  |  |  |  |  | $ | 209,981 |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Refer to Note 1. Summary of Significant Accounting Policies for disclosure of costs captured in programming. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
|  | For the year ended December 31, 2023
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 1,380,281 |  |  | $ | 893,234 |  |  | $ | 2,273,515 |
Intersegment revenues |  | 17,949 |  |  | — |  |  | 17,949 |
Reportable segments revenues |  | 1,398,230 |  |  | 893,234 |  |  | 2,291,464 |
Other revenues(a) |  |  |  |  |  | 19,397 |
Intersegment eliminations |  |  |  |  |  | (17,949) |
Total consolidated operating revenues |  |  |  |  |  | $ | 2,292,912 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 435,916 |  |  | 124,669 |  |  |
Programming(c) |  | 493,578 |  |  | 360,684 |  |  |
Other segment items(d) |  | 181,297 |  |  | 182,096 |  |  |
Segment profit for reportable segments |  | 287,439 |  |  | 225,785 |  |  | $ | 513,224 |
Other segment profit (loss)(a) |  |  |  |  |  | (26,451) |
Shared services and corporate |  |  |  |  |  | (91,954) |
Restructuring costs |  |  |  |  |  | (38,612) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (155,105) |
Impairment of goodwill |  |  |  |  |  | (952,000) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | (2,344) |
Interest expense |  |  |  |  |  | (213,512) |
Defined benefit pension plan income |  |  |  |  |  | 650 |
Miscellaneous, net |  |  |  |  |  | (1,407) |
Income (loss) from operations before income taxes |  |  |  |  |  | $ | (967,511) |
|  | For the year ended December 31, 2022
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 1,477,345 |  |  | $ | 961,242 |  |  | $ | 2,438,587 |
Intersegment revenues |  | 17,012 |  |  | — |  |  | 17,012 |
Reportable segments revenues |  | 1,494,357 |  |  | 961,242 |  |  | 2,455,599 |
Other revenues(a) |  |  |  |  |  | 14,628 |
Intersegment eliminations |  |  |  |  |  | (17,012) |
Total consolidated operating revenues |  |  |  |  |  | $ | 2,453,215 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 425,840 |  |  | 120,202 |  |  |
Programming(c) |  | 481,712 |  |  | 342,835 |  |  |
Other segment items(d) |  | 200,436 |  |  | 187,869 |  |  |
Segment profit for reportable segments |  | 386,369 |  |  | 310,336 |  |  | $ | 696,705 |
Other segment profit (loss)(a) |  |  |  |  |  | (18,140) |
Shared services and corporate |  |  |  |  |  | (82,280) |
Acquisition and related integration costs |  |  |  |  |  | (1,642) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (160,433) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | (5,866) |
Interest expense |  |  |  |  |  | (161,130) |
Gain on extinguishment of debt |  |  |  |  |  | 8,589 |
Defined benefit pension plan income |  |  |  |  |  | 2,613 |
Miscellaneous, net |  |  |  |  |  | (1,953) |
Income (loss) from operations before income taxes |  |  |  |  |  | $ | 276,463 |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Refer to Note 1. Summary of Significant Accounting Policies for disclosure of costs captured in programming. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs. Other segment disclosures are as follows:
|  | For the years ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Depreciation: |  |  |  |  |  |
Local Media |  | $ | 41,651 |  |  | $ | 39,642 |  |  | $ | 40,479 |
Scripps Networks |  | 19,199 |  |  | 19,600 |  |  | 19,360 |
Total depreciation for reportable segments |  | 60,850 |  |  | 59,242 |  |  | 59,839 |
Other |  | 243 |  |  | 184 |  |  | 189 |
Shared services and corporate |  | 899 |  |  | 1,299 |  |  | 1,915 |
Total depreciation |  | $ | 61,992 |  |  | $ | 60,725 |  |  | $ | 61,943 |
Amortization of intangible assets: |  |  |  |  |  |
Local Media |  | 34,762 |  |  | 36,322 |  |  | 35,461 |
Scripps Networks |  | 51,904 |  |  | 52,036 |  |  | 56,836 |
Total amortization of intangible assets for reportable segments |  | 86,666 |  |  | 88,358 |  |  | 92,297 |
Other |  | 1,777 |  |  | 1,795 |  |  | 1,870 |
Shared services and corporate |  | 4,793 |  |  | 4,227 |  |  | 4,323 |
Total amortization of intangible assets |  | $ | 93,236 |  |  | $ | 94,380 |  |  | $ | 98,490 |
Additions to property and equipment: |  |  |  |  |  |
Local Media |  | 45,778 |  |  | 55,244 |  |  | 58,350 |
Scripps Networks |  | 12,095 |  |  | 5,654 |  |  | 13,444 |
Total additions to property and equipment for reportable segments |  | 57,873 |  |  | 60,898 |  |  | 71,794 |
Other |  | 959 |  |  | 75 |  |  | 54 |
Shared services and corporate |  | 6,645 |  |  | 1,530 |  |  | 374 |
Total additions to property and equipment |  | $ | 65,477 |  |  | $ | 62,503 |  |  | $ | 72,222 |
Total assets by segment for the years ended December 31 were as follows:
|  | As of December 31,
(in thousands) |  | 2024 |  | 2023
Assets: |  |  |  |
Local Media |  | $ | 2,323,964 |  |  | $ | 2,393,660 |
Scripps Networks |  | 2,753,971 |  |  | 2,878,936 |
Total assets by reportable segments |  | 5,077,935 |  |  | 5,272,596 |
Other(a) |  | 34,800 |  |  | 58,460 |
Shared services and corporate |  | 85,840 |  |  | 79,064 |
Total assets |  | $ | 5,198,575 |  |  | $ | 5,410,120 |
(a) Reflects assets of operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units.
Disaggregation of Revenue | A disaggregation of the principal activities from which we generate revenue is as follows:
|  | For the years ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Operating revenues: |  |  |  |  |  |
Core advertising |  | $ | 1,330,191 |  |  | $ | 1,444,539 |  |  | $ | 1,549,277 |
Political |  | 362,523 |  |  | 33,460 |  |  | 208,112 |
Distribution |  | 784,573 |  |  | 779,217 |  |  | 660,317 |
Other |  | 32,485 |  |  | 35,696 |  |  | 35,509 |
Total operating revenues |  | $ | 2,509,772 |  |  | $ | 2,292,912 |  |  | $ | 2,453,215 |

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