Business Segments

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Business Segments

NOTE 20: BUSINESS SEGMENTS

The Company’s business consists of Television and Entertainmentoperations and the management of certain owned real estate assets. The Company also holds a variety of investments, including equity investments in TV Food Network and CareerBuilder. The Company’s Digital and Data operations, which had previously been presented as a separate reportable segment, are reported in discontinued operations (see Note 2 for further information).

Television and Entertainment is a reportable segment which provides audiences across the country with news, entertainment and sports programming, including content produced by Tribune Studios and its production partners, on Tribune Broadcasting local television stations and their websites, WGN America and other digital assets. The Company’s 42 local television stations (including the three stations to which the Company provides certain services under SSAs with Dreamcatcher) consist of 14 FOX television affiliates, 12 CW Network, LLC television affiliates, 6 CBS television affiliates, 3 ABC television affiliates, 2 NBC television affiliates and 5 independent television stations. Additionally, the Television and Entertainment segment includes the digital multicast network services through Antenna TV and through the operation and distribution of THIS TV; WGN America, a national general entertainment cable network; Tribune Studios, a development and production studio; and radio program services on WGN-AM, a Chicago radio station.

Corporate and Other includes the Company’s real estate operating segment responsible for the management of certain owned real estate assets, including revenues from leasing office and production facilities and any gains or losses from the sales of owned real estate, as well as certain administrative activities associated with operating the Company’s corporate office functions and managing the Company’s predominantly frozen company-sponsored defined benefit pension plans. Corporate and Other is not a reportable segment but is included below for reconciliation purposes.

No single customer provides more than 10% of the Company’s consolidated revenues. In determining operating profit for each segment, none of the following items have been included: income and loss on equity investments, interest and dividend income, interest expense, non-operating items, reorganization costs or income taxes. Assets represent those tangible and intangible assets used in the operations of each segment.

The following table summarizes business segment financial data for the fiscal years ended December 31, 2016, December 31, 2015 and December 28, 2014 (in thousands):

	2016		2015			2014
Operating Revenues from Continuing Operations (1)
Television and Entertainment	$	1,909,896	$	1,752,542		$	1,725,641
Corporate and Other	38,034		49,425			54,984
Total operating revenues	$	1,947,930	$	1,801,967		$	1,780,625
Operating Profit (Loss) from Continuing Operations (1)(2)
Television and Entertainment	$	324,837	$	(175,140	)	$	337,431
Corporate and Other	108,737		(94,195		)	(32,607		)
Total operating profit (loss)	$	433,574	$	(269,335	)	$	304,824
Depreciation from Continuing Operations (3)
Television and Entertainment	$	45,083	$	48,437		$	50,262
Corporate and Other	13,742		16,117			12,181
Total depreciation	$	58,825	$	64,554		$	62,443
Amortization from Continuing Operations (3)
Television and Entertainment	$	166,664	$	166,404		$	197,054
Total amortization	$	166,664	$	166,404		$	197,054
Capital Expenditures
Television and Entertainment	$	59,167	$	33,173		$	34,149
Corporate and Other	16,944		32,285			35,892
Discontinued Operations	23,548		23,626			19,397
Total capital expenditures	$	99,659	$	89,084		$	89,438
Assets
Television and Entertainment	$	7,484,591	$	7,764,890
Corporate and Other (4)(5)	1,228,526		1,032,409
Assets held for sale (6)	687,934		911,564
Total assets	$	9,401,051	$	9,708,863

(1) See Note 2 for the disclosures of operating revenues and operating profit included in discontinued operations for the historical periods.

(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.

(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.

(4) December 31, 2015 balances have been reclassified to present debt issuance costs as a direct deduction from the carrying amount of an associated debt liability in accordance with ASU 2015-03. See Note 1 for further information.

(5) As of December 31, 2016 and December 31, 2015, Corporate total assets included $18 million related to restricted cash held to satisfy remaining claim obligations to holders of priority claims and fees earned by professional advisors during Chapter 11 proceedings (see Note 3). Corporate and Other assets include certain real estate assets (see Note 2) as well as the Company’s equity investment in CareerBuilder.

(6) See Note 2 and Note 6 for information regarding assets held for sale.