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Segment Information (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Information regarding business segments

Intersegment revenue eliminations are included in Corporate and Other and totaled $6.5 million and $5.1 million for the three months ended June 30, 2016 and June 30, 2015, respectively, and $13.1 million and $9.8 million for the six months ended June 30, 2016 and June 30, 2015, respectively.

Our Chief Operating Decision Maker (“CODM”), whom we have identified as our Chief Executive Officer, evaluates the operating performance of our businesses and makes decisions about the allocation of resources to the businesses using a measure we refer to as segment profit. Segment profit excludes interest, income taxes, depreciation and amortization, divested operating units, investment results and certain other items included in net income determined in accordance with GAAP.

Information regarding our segments is as follows:

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

(in thousands)

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Segment operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

752,321

 

 

$

715,100

 

 

$

1,454,516

 

 

$

1,354,004

 

International Networks

 

 

147,044

 

 

 

22,088

 

 

 

268,382

 

 

 

46,153

 

Corporate and Other

 

 

(6,594

)

 

 

(5,086

)

 

 

(13,249

)

 

 

(9,805

)

Total operating revenues

 

$

892,771

 

 

$

732,102

 

 

$

1,709,649

 

 

$

1,390,352

 

Cost of services, excluding depreciation and amortization

 

 

286,999

 

 

 

195,087

 

 

 

566,666

 

 

 

394,234

 

Selling, general and administrative

 

 

191,133

 

 

 

178,498

 

 

 

389,954

 

 

 

380,685

 

Total segment profit

 

$

414,639

 

 

$

358,517

 

 

$

753,029

 

 

$

615,433

 

Depreciation

 

 

16,089

 

 

 

14,798

 

 

 

33,628

 

 

 

31,693

 

Amortization

 

 

25,654

 

 

 

11,640

 

 

 

56,716

 

 

 

23,335

 

Loss (gain) on disposal of property and equipment

 

 

-

 

 

 

44

 

 

 

(242

)

 

 

2,560

 

Total operating income

 

 

372,896

 

 

 

332,035

 

 

 

662,927

 

 

 

557,845

 

Interest expense, net

 

 

(33,175

)

 

 

(16,835

)

 

 

(66,920

)

 

 

(29,802

)

Equity in earnings of affiliates

 

 

21,712

 

 

 

27,290

 

 

 

47,390

 

 

 

46,235

 

Gain on derivatives

 

 

8,267

 

 

 

37,198

 

 

 

11,033

 

 

 

43,131

 

(Loss) gain on sale of investments

 

 

(16,373

)

 

 

-

 

 

 

191,824

 

 

 

-

 

Miscellaneous, net

 

 

(21,672

)

 

 

(13,194

)

 

 

(15,606

)

 

 

(13,596

)

Income from operations before income taxes

 

$

331,655

 

 

$

366,494

 

 

$

830,648

 

 

$

603,813

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

401,139

 

 

$

397,332

 

 

$

760,636

 

 

$

697,836

 

International Networks

 

 

37,369

 

 

 

(10,495

)

 

 

47,158

 

 

 

(16,374

)

Corporate and Other

 

 

(23,869

)

 

 

(28,320

)

 

 

(54,765

)

 

 

(66,029

)

Total segment profit

 

$

414,639

 

 

$

358,517

 

 

$

753,029

 

 

$

615,433

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

12,716

 

 

$

12,848

 

 

$

26,869

 

 

$

27,560

 

International Networks

 

 

3,114

 

 

 

949

 

 

 

6,239

 

 

 

2,078

 

Corporate and Other

 

 

259

 

 

 

1,001

 

 

 

520

 

 

 

2,055

 

Total depreciation

 

$

16,089

 

 

$

14,798

 

 

$

33,628

 

 

$

31,693

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

10,022

 

 

$

10,021

 

 

$

20,043

 

 

$

19,961

 

International Networks

 

 

15,632

 

 

 

1,619

 

 

 

36,673

 

 

 

3,374

 

Corporate and Other

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total amortization

 

$

25,654

 

 

$

11,640

 

 

$

56,716

 

 

$

23,335

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss (gain) on disposal of property and equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

-

 

 

$

34

 

 

$

42

 

 

$

3,581

 

International Networks

 

 

-

 

 

 

9

 

 

 

(284

)

 

 

9

 

Corporate and Other

 

 

-

 

 

 

1

 

 

 

-

 

 

 

(1,030

)

Total loss (gain) on disposal of property and equipment

 

$

-

 

 

$

44

 

 

$

(242

)

 

$

2,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of affiliates:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

$

9,014

 

 

$

14,486

 

 

$

16,746

 

 

$

24,507

 

International Networks

 

 

12,698

 

 

 

12,804

 

 

 

30,644

 

 

 

21,728

 

Corporate and Other

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total equity in earnings of affiliates

 

$

21,712

 

 

$

27,290

 

 

$

47,390

 

 

$

46,235

 

 

Three months ended June 30,

 

Six months ended June 30,

 

(in thousands)

2016

 

2015

 

 

2016

 

 

2015

 

Additions to property and equipment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

$

8,567

 

$

8,582

 

 

$

17,238

 

 

$

16,251

 

International Networks

 

4,385

 

 

496

 

 

 

7,059

 

 

 

776

 

Corporate and Other

 

-

 

 

1

 

 

 

-

 

 

 

1,451

 

Total additions to property and equipment

$

12,952

 

$

9,079

 

 

$

24,297

 

 

$

18,478

 

Operating revenues by geographic location:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

$

755,427

 

$

717,081

 

 

$

1,457,315

 

 

$

1,359,886

 

Poland

 

120,095

 

$

-

 

 

 

217,853

 

 

 

-

 

Other International

 

17,249

 

$

15,021

 

 

 

34,481

 

 

 

30,466

 

Total operating revenues

$

892,771

 

$

732,102

 

 

$

1,709,649

 

 

$

1,390,352

 

 

 

 

 

As of

 

 

 

 

 

 

 

 

 

June 30, 2016

 

 

December 31, 2015

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Networks

 

 

 

 

 

 

 

$

2,903,981

 

 

$

2,937,428

 

International Networks

 

 

 

 

 

 

 

 

3,165,665

 

 

 

3,276,989

 

Corporate and Other

 

 

 

 

 

 

 

 

443,069

 

 

 

457,897

 

Total assets

 

 

 

 

 

 

 

$

6,512,715

 

 

$

6,672,314

 

Long-lived assets by geographic location:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

$

1,862,190

 

 

$

1,903,918

 

Poland

 

 

 

 

 

 

 

 

2,333,333

 

 

 

2,406,842

 

Other International

 

 

 

 

 

 

 

 

481,687

 

 

 

541,719

 

Total long-lived assets

 

 

 

 

 

 

 

$

4,677,210

 

 

$

4,852,479