DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2015

DISCONTINUED OPERATIONS

Schedule of major items of income/loss and carrying amounts of major classes of assets and liabilities from discontinued operations

	Year Ended December 31,
	2013			2014			2015
REVENUES:
Advertising	$	805,546		$	698,111		$	341,898
Sublicensing and other revenues		25,516			12,315			8,662
Total operating revenues		831,062			710,426			350,560
EXPENSES:
Direct operating expenses (exclusive of programming expenses, shown below; exclusive of depreciation and amortization of $29,024, $22,583 and $12,298 in 2013, 2014 and 2015, respectively)		(46,351	)		(45,281	)		(32,569	)
Selling, general and administrative (exclusive of depreciation and amortization $4,092, $3,499 and $2,004 in 2013, 2014 and 2015, respectively)		(167,539	)		(152,249	)		(86,631	)
Stock-based compensation benefit (expense)		(1,834	)		171			(4,185	)
Programming expenses		(338,215	)		(299,750	)		(199,288	)
Depreciation and amortization		(33,116	)		(26,082	)		(14,302	)
Impairment loss		(29,869	)		(29,356	)		(8,991	)
Total operating expenses		(616,924	)		(552,547	)		(345,966	)
OPERATING INCOME		214,138			157,879			4,594
OTHER NON-OPERATING INCOME (LOSS), net		14,187			11,698			2,110
Income from discontinued operations before income tax		228,325			169,577			6,704
INCOME TAX BENEFIT/(EXPENSE)		(63,725	)		(55,283	)		36,610
NET INCOME BEFORE INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	$	164,600		$	114,294		$	43,314
LESS: INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	$	(7,821	)	$	(5,284	)	$	(1,386	)
LOSS ON DISPOSAL, including tax benefit of $7,476:		—			—			(529,129	)
Including loss on reclassification of accumulated other comprehensive losses to earnings		—			—			(523,755	)
NET INCOME FROM DISCONTINUED OPERATIONS	$	156,779		$	109,010		$	(487,201	)

	December 31, 2014
CURRENT ASSETS OF DISCONTINUED OPERATIONS:
Cash and cash equivalents	$	31,700
Short-term investments		77,800
Trade accounts receivable		25,504
Taxes reclaimable		9,693
Prepayments		42,503
Programming rights		112,708
Deferred tax assets		20,307
Other current assets		63
TOTAL CURRENT ASSETS		320,278
NON-CURRENT ASSETS OF DISCONTINUED OPERATIONS:
Property and equipment		18,503
Intangible assets:		45,969
Goodwill		53,627
Programming rights		72,446
Investments in and advances to investees		3,167
Prepayments		13,719
Deferred tax assets		8,264
Other non-current assets		6,929
TOTAL ASSETS ASSOCIATED WITH ASSETS OF DISCONTINUED OPERATIONS		542,902
CURRENT LIABILITIES ASSOCIATED WITH ASSETS OF DISCONTINUED OPERATIONS:
Bank loans		2,192
Accounts payable		54,371
Accrued liabilities		15,027
Taxes payable		15,440
Deferred revenue		6,650
Deferred tax liabilities		58,827
TOTAL CURRENT LIABILITIES ASSOCIATED WITH ASSETS OF DISCONTINUED OPERATIONS		152,507
NON-CURRENT LIABILITIES ASSOCIATED WITH ASSETS OF DISCONTINUED OPERATIONS:
Deferred tax liabilities		6,910

Schedule of impairment losses included in income from discontinued operations

	2013		2014		2015
Umbrella analog licenses	$	—	$	—	$	2,965
Cable network connections		—		—		2,737
Che goodwill*		—		29,356		3,289
Production unit goodwill		29,869		—		—
Total impairment losses	$	29,869	$	29,356	$	8,991
Income tax effect		—		—		(1,140	)
Total effect on net income	$	29,869	$	29,356	$	7,851

*           In November, 2015 Peretz channel was relaunched in a new format as Che.

Schedule of total operating and investing cash flows related to discontinued operations

	2013			2014		2015
Net cash provided by operating activities of discontinued operations	$	190,872		$	106,214	$	28,075
Net cash provided by (used in) investing activities of discontinued operations	$	(60,791	)	$	56,568	$	61,819