Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following tables set forth our financial performance by segment.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Revenues:
U.S. Media	$	213.5	$	419.6	$	568.2	$	758.0
Other	19.4		40.3		50.0		73.6
Total revenues	$	232.9	$	459.9	$	618.2	$	831.6

Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Net income (loss) before allocation to non-controlling interests	$	(58.0)	$	50.3	$	(51.7)	$	56.4
(Benefit) provision for income taxes	(1.5)		6.2		(3.2)		5.2
Equity in earnings of investee companies, net of tax	0.3		(1.7)		(0.1)		(2.5)
Interest expense, net	33.3		33.9		63.1		66.6
Other loss, net	—		—		(0.2)		(0.1)
Operating income (loss)	(25.9)		88.7		7.9		125.6
Restructuring charges	4.7		—		4.7		0.3
Net (gain) loss on dispositions	(5.2)		0.4		(5.3)		(1.1)
Depreciation and amortization	42.9		49.0		90.2		94.8
Stock-based compensation	5.2		5.5		11.0		10.8
Total Adjusted OIBDA	$	21.7	$	143.6	$	108.5	$	230.4
Adjusted OIBDA:
U.S. Media	$	37.4	$	145.8	$	128.2	$	240.4
Other	(5.4)		8.8		(4.9)		10.0
Corporate	(10.3)		(11.0)		(14.8)		(20.0)
Total Adjusted OIBDA	$	21.7	$	143.6	$	108.5	$	230.4

Tabular Disclosure by Reportable Segments

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Operating income (loss):
U.S. Media	$	(3.9)	$	101.9	$	43.5	$	157.4
Other	(5.5)		3.3		(8.8)		(0.7)
Corporate	(16.5)		(16.5)		(26.8)		(31.1)
Total operating income (loss)	$	(25.9)	$	88.7	$	7.9	$	125.6
Net (gain) loss on dispositions:
U.S. Media	$	(1.1)	$	0.2	$	(1.2)	$	(1.3)
Other	(4.1)		0.2		(4.1)		0.2
Total (gain) loss on dispositions	$	(5.2)	$	0.4	$	(5.3)	$	(1.1)
Depreciation and amortization:
U.S. Media	$	39.4	$	43.7	$	82.9	$	84.3
Other	3.5		5.3		7.3		10.5
Total depreciation and amortization	$	42.9	$	49.0	$	90.2	$	94.8
Capital expenditures:
U.S. Media	$	13.6	$	21.0	$	30.9	$	38.3
Other	0.1		0.5		1.0		1.3
Total capital expenditures	$	13.7	$	21.5	$	31.9	$	39.6

Reconciliation of Assets from Segment to Consolidated

	As of
(in millions)	June 30, 2020		December 31, 2019
Assets:
U.S. Media	$	5,021.3	$	5,077.1
Other	258.4		284.0
Corporate	607.4		21.2
Total assets	$	5,887.1	$	5,382.3