v3.20.2

REVENUE

6 Months Ended

Jun. 30, 2020

Revenues [Abstract]

REVENUE

REVENUE

Contract Balances

Refer to the table below for information about receivables, contract assets and contract liabilities from contracts with customers. Accounts receivable balances in the table below exclude other receivables that are not generated from contracts with customers. These amounts are $0.9 million and $5.1 million as of June 30, 2020 and December 31, 2019, respectively.

Description						June 30, 2020						December 31, 2019
						(amounts in thousands)
Receivables, included in "Accounts receivable net of allowance for doubtful accounts"						$	196,265					$	376,504
Unearned revenue - current						11,717						9,894
Unearned revenue - noncurrent						1,703						2,113

Changes in Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables, and customer advances and deposits (unearned revenue) on the Company’s consolidated balance sheet. At times, however, the Company receives advance payments or deposits from its customers before revenue is recognized, resulting in contract liabilities. The contract liabilities primarily relate to the advance consideration received from customers on certain contracts. For these contracts, revenue is recognized in a manner that is consistent with the satisfaction of the underlying performance obligations. The contract liabilities are reported on the condensed consolidated balance sheet on a contract-by-contract basis at the end of each respective reporting period within the other current liabilities and other long-term liabilities line items.

Significant changes in the contract liabilities balances during the period are as follows:

						Six Months Ended June 30, 2020
Description						Unearned Revenue
						(amounts in thousands)
Beginning balance on January 1, 2020						$	12,007
Revenue recognized during the period that was included in the beginning balance of contract liabilities						(1,729)
Additional amounts recognized during period						3,142
Ending balance						$	13,420

Disaggregation of Revenue

The following table presents the Company’s revenues disaggregated by revenue source:

						Six Months Ended June 30,
						2020						2019
Revenue by Source						(amounts in thousands)
Broadcast revenues						$	444,372					$	635,086
Event and other revenues						23,098						46,401
Trade and barter revenues						5,428						8,183
Net revenues						$	472,898					$	689,670

						Three Months Ended June 30,
						2020						2019
Revenue by Source						(amounts in thousands)
Broadcast revenues						$	167,615					$	350,620
Event and other revenues						6,312						26,875
Trade and barter revenues						1,941						3,170
Net revenues						$	175,868					$	380,665

X

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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X

- References

No definition available.

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