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Condensed Consolidated Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating Revenues        
Television and Entertainment $ 447,307 $ 460,164 $ 1,349,401 $ 1,384,173
Other 3,226 9,874 10,559 34,133
Total operating revenues 450,533 470,038 1,359,960 [1] 1,418,306 [1]
Operating Expenses        
Programming 199,118 149,480 497,448 396,450
Direct operating expenses 98,419 99,150 294,166 293,245
Selling, general and administrative 120,869 143,974 422,604 452,286
Depreciation 14,263 14,764 41,761 [2] 43,673 [2]
Amortization 41,678 41,668 125,001 125,003
Gain on sales of real estate, net (65) (213,168) (365) (212,719)
Total operating expenses 474,282 235,868 1,380,615 1,097,938
Operating (Loss) Profit (23,749) 234,170 (20,655) [1],[3] 320,368 [1],[3]
Income on equity investments, net 21,058 31,737 98,856 114,295
Interest and dividend income 827 476 1,880 836
Interest expense (40,389) (38,296) (119,332) (114,508)
Loss on extinguishments and modification of debt (1,435) 0 (20,487) 0
Gain on investment transactions, net 5,667 0 10,617 0
Write-downs of investment 0 0 (180,800) 0
Other non-operating gain, net 0 57 45 478
Reorganization items, net (753) (434) (1,452) (1,234)
(Loss) Income from Continuing Operations Before Income Taxes (38,774) 227,710 (231,328) 320,235
Income tax (benefit) expense (20,087) 73,871 (81,606) 303,922
(Loss) Income from Continuing Operations (18,687) 153,839 (149,722) 16,313
(Loss) Income from Discontinued Operations, net of taxes (Note 2) 0 (8,074) 15,039 (21,018)
Net (Loss) Income $ (18,687) $ 145,765 $ (134,683) $ (4,705)
Earnings (Loss) Per Share        
Continuing Operations $ (0.21) $ 1.71 $ (1.72) $ 0.18
Discontinued Operations 0.00 (0.09) 0.17 (0.23)
Net (Loss) Earnings Per Common Share (0.21) 1.62 (1.55) (0.05)
Continuing Operations (0.21) 1.70 (1.72) 0.18
Discontinued Operations 0.00 (0.09) 0.17 (0.23)
Net (Loss) Earnings Per Common Share (0.21) 1.61 (1.55) (0.05)
Regular Cash Dividend        
Earnings (Loss) Per Share        
Dividends declared per common share (usd per share) 0.25 0.25 0.75 0.75
Special Cash Dividend        
Earnings (Loss) Per Share        
Dividends declared per common share (usd per share) $ 0.00 $ 0.00 $ 5.77 $ 0.00
[1] (1)See Note 2 for the disclosures of operating revenues and operating loss included in discontinued operations for the historical periods.
[2] (3)Depreciation and amortization from discontinued operations totaled $4 million and $8 million respectively, for the three months ended September 30, 2016 and $10 million and $23 million, respectively, for the nine months ended September 30, 2016.
[3] (2)Operating (loss) profit for each segment excludes income and loss on equity investments, interest and dividend income, interest expense, non-operating items, reorganization costs and income taxes.