| Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited)
| | | | | | | | | | | | | | | | | Fiscal Year Ended March 31, 2016 (in thousands) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total | Operating revenues | $ | 56,108 |
| $ | 61,932 |
| $ | 55,144 |
| $ | 49,857 |
| $ | 223,041 |
| Operating income | 5,045 |
| 8,976 |
| 5,869 |
| 5,812 |
| 25,702 |
| Net income (loss) | 24,064 |
| (1,194 | ) | (2,288 | ) | (2,586 | ) | 17,996 |
| Net income (loss) attributable to American Media, Inc. and subsidiaries | 24,070 |
| (2,186 | ) | (2,315 | ) | (2,605 | ) | 16,964 |
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| | | | | | | | | | | | | | | | | Fiscal Year Ended March 31, 2015 (in thousands) | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Total | Operating revenues | $ | 63,338 |
| $ | 61,472 |
| $ | 60,145 |
| $ | 60,225 |
| $ | 245,180 |
| Operating income (loss) | 4,156 |
| (20,557 | ) | 6,427 |
| 4,193 |
| (5,781 | ) | Net income (loss) | (12,038 | ) | (28,777 | ) | 9,953 |
| 4,954 |
| (25,908 | ) | Net income (loss) attributable to American Media, Inc. and subsidiaries | (11,968 | ) | (30,062 | ) | 9,960 |
| 4,943 |
| (27,127 | ) |
Fiscal 2016 - each quarter includes approximately $2.9 million related to the reclassification of certain tradenames from indefinite-lived intangibles to finite-lives of 15 years, effective April 1, 2015.
| | • | Second Quarter - results include severance of approximately $1.5 million. |
| | • | Third Quarter - results include legal settlements of approximately $2.0 million. |
| | • | Fourth Quarter - results include severance of approximately $2.0 million. |
Fiscal 2015
| | • | First Quarter - results include AMI's share of bad debt and other expenses related to wholesaler shutdowns of approximately $3.9 million. |
| | • | Second Quarter - results include a non-cash goodwill and tradename impairment charge related to certain reporting units of approximately $17.4 million, Merger and related transaction costs of approximately $3.2 million, and approximately $1.0 million for AMI's share of bad debt and other expenses related to wholesaler shutdowns. |
| | • | Third Quarter - results include Merger and related transaction costs of approximately $1.6 million and the gain on sale of Country Weekly of approximately $3.4 million. |
| | • | Fourth Quarter - results include reorganization costs and severance of approximately $3.3 million and approximately $2.6 million of other expenses related to wholesaler shutdowns. |
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