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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 28, 2014
Operating Revenues      
Advertising $ 1,374,571 $ 1,303,220 $ 1,339,634
Retransmission revenue and carriage fees 455,768 368,484 286,380
Other 79,557 80,838 99,627
Television and Entertainment 1,909,896 1,752,542 1,725,641
Other 38,034 49,425 54,984
Total operating revenues [1] 1,947,930 1,801,967 1,780,625
Operating Expenses      
Programming 515,738 535,799 354,666
Direct operating expenses 390,595 376,383 364,197
Selling, general and administrative 592,220 543,065 519,131
Depreciation [2] 58,825 64,554 62,443
Amortization [2] 166,664 166,404 197,054
Impairments of goodwill and other intangible assets (Note 7) 3,400 385,000 0
(Gain) loss on sales of real estate (213,086) 97 (21,690)
Total operating expenses 1,514,356 2,071,302 1,475,801
Total operating profit (loss) [1],[3] 433,574 (269,335) 304,824
Income on equity investments, net 148,156 146,959 236,713
Interest and dividend income 1,226 720 1,264
Interest expense (152,719) (148,587) (141,629)
Loss on extinguishment of debt 0 (37,040) 0
Gain on investment transactions, net 0 12,173 [4] 371,785
Other non-operating gain (loss), net 5,427 [4] 7,228 [4] (4,804)
Reorganization items, net (1,422) [5] (1,537) [5] (7,268)
Income (Loss) from Continuing Operations Before Income Taxes 434,242 (289,419) 760,885
Income tax expense 347,202 25,918 284,266
Net Income (Loss) from Continuing Operations 87,040 (315,337) 476,619
(Loss) Income from Discontinued Operations, net of taxes (Note 2) (72,794) (4,581) 44
Net Income (Loss) $ 14,246 $ (319,918) $ 476,663
Earnings Per Share [Abstract]      
Continuing Operations $ 0.96 $ (3.33) $ 4.76
Discontinued Operations (0.80) (0.05) 0.00
Net Earnings (Loss) Per Common Share 0.16 (3.38) 4.76
Continuing Operations 0.96 (3.33) 4.75
Discontinued Operations (0.80) (0.05) 0.00
Net Earnings (Loss) Per Common Share 0.16 (3.38) 4.75
Regular Cash Dividend      
Earnings Per Share [Abstract]      
Dividends declared (usd per share) 1.0 0.75 0
Special Cash Dividend      
Earnings Per Share [Abstract]      
Dividends declared (usd per share) $ 0 $ 6.73 $ 0
[1] (1)See Note 2 for the disclosures of operating revenues and operating profit included in discontinued operations for the historical periods.
[2] (3)Depreciation from discontinued operations totaled $14 million, $10 million and $26 million for the years ended December 31, 2016, December 31, 2015 and December 28, 2014. Amortization from discontinued operations totaled $30 million, $29 million and $25 million for the years ended December 31, 2016, December 31, 2015 and December 28, 2014.
[3] (2)Operating profit (loss) for each segment excludes income and loss on equity investments, interest and dividend income, interest expense, non-operating items, reorganization costs and income taxes.
[4] See Note 5 to the Company’s consolidated financial statements for information pertaining to non-operating items recorded in 2016 and 2015.
[5] See Note 3 to the Company’s consolidated financial statements for information pertaining to reorganization items recorded in 2016 and 2015.