Investments (Tables)

12 Months Ended

Dec. 31, 2018

Investment [Line Items]

Investment Holdings, Schedule of Investments

Investments consisted of the following (in thousands):

	December 31, 2018		December 31, 2017
Equity method investments	$	1,238,457	$	1,254,198
Other equity investments	25,980		27,593
Total investments	$	1,264,437	$	1,281,791

Equity Method Investment Ownership Percentages

The Company’s equity method investments at December 31, 2018 included the following private companies:

Company	% Owned
Dose Media, LLC	23%
Television Food Network, G.P.	31%
TKG Internet Holdings II LLC	43%

Equity Method Investments

Income from equity investments, net reported in the Company’s Consolidated Statements of Operations consisted of the following (in thousands):

	2018			2017			2016
Income from equity investments, net, before amortization of basis difference	$	219,210		$	190,864		$	202,758
Amortization of basis difference	(49,875		)	(53,502		)	(54,602		)
Income from equity investments, net	$	169,335		$	137,362		$	148,156

Distributions from Equity Investments

Cash distributions from the Company’s equity method investments were as follows (in thousands):

	2018		2017		2016
Cash distributions from equity investments (1)	$	171,591	$	201,892	$	170,527

(1) Certain distributions received from CareerBuilder in 2017 exceeded the Company’s share of CareerBuilder’s cumulative earnings. As a result, the Company determined that these distributions were a return of investment and, therefore, presented such distributions totaling $4 million as an investing activity in the Company’s Consolidated Statements of Cash Flows for 2017.

Television Food Network, G.P.

Investment [Line Items]

Summary of Financial Information of Equity Investments

Summarized Financial Information—Summarized financial information for TV Food Network is as follows (in thousands):

	Fiscal Year
	2018		2017		2016
Revenues, net	$	1,263,279	$	1,208,357	$	1,160,716
Operating income	$	654,296	$	593,409	$	535,131
Net income	$	670,738	$	608,327	$	552,146

	December 31, 2018		December 31, 2017
Current assets	$	800,990	$	840,763
Non-current assets	$	347,688	$	150,277
Current liabilities	$	108,568	$	92,193
Non-current liabilities	$	109	$	—

CareerBuilder, LLC and Dose Media, LLC

Investment [Line Items]

Summary of Financial Information of Equity Investments

Summarized financial information for CareerBuilder and Dose Media is as follows (in thousands):

	Fiscal Year
	2018		2017			2016
Revenues, net (1)	$	433,757	$	645,790		$	719,994
Operating income (loss) (1)	$	25,791	$	(10,457	)	$	93,619
Net income (loss) (1)	$	101,573	$	(19,125	)	$	89,249

(1) Revenues, net, operating income (loss) and net income (loss) that relate to CareerBuilder include results through September 13, 2018.

	December 31, 2018 (1)		December 31, 2017
Current assets	$	1,653	$	180,828
Non-current assets	$	246	$	503,688
Current liabilities	$	566	$	196,101
Non-current liabilities	$	—	$	319,037

(1) Summarized balance sheet information at December 31, 2018 excludes CareerBuilder as the investment was sold on September 13, 2018.