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Quarterly Financial Information
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
NOTE 22: QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
(in thousands, except per share data)
 
2015
 
Quarters
 
2015 Total
 
First
 
Second
 
Third
 
Fourth
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
410,300

 
$
445,622

 
$
429,700

 
$
464,013

 
$
1,749,635

Digital and Data
50,202

 
43,625

 
46,561

 
71,139

 
211,527

Other
12,235

 
12,277

 
12,333

 
12,453

 
49,298

Total operating revenues
$
472,737

 
$
501,524

 
$
488,594

 
$
547,605

 
$
2,010,460

Operating Profit (Loss)
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
79,348

 
$
47,088

 
$
64,061

 
$
(365,452
)
 
$
(174,955
)
Digital and Data
3,734

 
(4,150
)
 
(6,207
)
 
15,032

 
8,409

Corporate and Other
(22,147
)
 
(23,154
)
 
(19,046
)
 
(31,796
)
 
(96,143
)
Total operating profit (loss)
60,935

 
19,784

 
38,808

 
(382,216
)
 
(262,689
)
Income on equity investments, net
36,934

 
45,913

 
36,987

 
27,125

 
146,959

Interest and dividend income
367

 
43

 
162

 
257

 
829

Interest expense
(39,212
)
 
(40,374
)
 
(42,529
)
 
(42,315
)
 
(164,430
)
Loss on extinguishment of debt
—

 
(37,040
)
 
—

 
—

 
(37,040
)
Gain on investment transactions, net (1)
687

 
8,133

 
3,250

 
103

 
12,173

Other non-operating gain (loss), net (1)
—

 
211

 
2,306

 
5,623

 
8,140

Reorganization items, net (2)
(992
)
 
(628
)
 
188

 
(105
)
 
(1,537
)
Income (Loss) from Continuing Operations Before Income Taxes
58,719

 
(3,958
)
 
39,172

 
(391,528
)
 
(297,595
)
Income tax expense
22,302

 
(693
)
 
11,314

 
(10,600
)
 
22,323

Net Income (Loss)
$
36,417

 
$
(3,265
)
 
$
27,858

 
$
(380,928
)
 
$
(319,918
)
 
 
 
 
 
 
 
 
 
 
Basic Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to common shareholders
$
0.37

 
$
(0.04
)
 
$
0.29

 
$
(4.07
)
 
$
(3.38
)
 
 
 
 
 
 
 
 
 
 
Diluted Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to common shareholders
$
0.37

 
$
(0.04
)
 
$
0.29

 
$
(4.07
)
 
$
(3.38
)
 
2014
 
Quarters
 
2014 Total
 
First
 
Second
 
Third
 
Fourth
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
400,201

 
$
426,961

 
$
418,294

 
$
480,185

 
$
1,725,641

Digital and Data
31,485

 
33,807

 
43,434

 
60,200

 
168,926

Other
14,416

 
14,211

 
13,130

 
13,035

 
54,792

Total operating revenues
$
446,102

 
$
474,979

 
$
474,858

 
$
553,420

 
$
1,949,359

Operating Profit (Loss)
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
64,697

 
$
52,414

 
$
74,294

 
$
146,026

 
$
337,431

Digital and Data
(2,086
)
 
(8,910
)
 
(396
)
 
14,291

 
2,899

Corporate and Other
(12,351
)
 
(11,311
)
 
(18,613
)
 
3,127

 
(39,148
)
Total operating profit (loss)
50,260

 
32,193

 
55,285

 
163,444

 
301,182

Income on equity investments, net
38,263

 
118,953

 
40,559

 
38,938

 
236,713

Interest and dividend income
171

 
147

 
363

 
687

 
1,368

Interest expense
(40,519
)
 
(39,146
)
 
(39,150
)
 
(39,051
)
 
(157,866
)
Gain on investment transactions, net (1)
—

 
700

 
2

 
371,783

 
372,485

Other non-operating gain (loss), net (1)
157

 
(1,295
)
 
68

 
(3,734
)
 
(4,804
)
Reorganization items, net (2)
(2,216
)
 
(2,165
)
 
(1,594
)
 
(1,293
)
 
(7,268
)
Income from Continuing Operations Before Income Taxes
46,116

 
109,387

 
55,533

 
530,774

 
741,810

Income tax expense
17,649

 
42,305

 
2,647

 
216,098

 
278,699

Income from Continuing Operations
28,467

 
67,082

 
52,886

 
314,676

 
463,111

Income (loss) from Discontinued Operations, net of taxes
12,601

 
15,840

 
(14,889
)
 
—

 
13,552

Net Income
$
41,068

 
$
82,922

 
$
37,997

 
$
314,676

 
$
476,663

 
 
 
 
 
 
 
 
 
 
Basic Earnings Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.28

 
$
0.67

 
$
0.53

 
$
3.15

 
$
4.63

Discontinued Operations
0.13

 
0.16

 
(0.15
)
 
—

 
0.13

Net income attributable to common shareholders
$
0.41

 
$
0.83

 
$
0.38

 
$
3.15

 
$
4.76

 
 
 
 
 
 
 
 
 
 
Diluted Earnings Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.28

 
$
0.67

 
$
0.53

 
$
3.14

 
$
4.62

Discontinued Operations
0.13

 
0.16

 
(0.15
)
 
—

 
0.13

Net income attributable to common shareholders
$
0.41


$
0.83


$
0.38


$
3.14


$
4.75

 
(1)
See Note 6 to the Company’s consolidated financial statements for information pertaining to non-operating items recorded in 2015 and 2014.
(2)
See Note 3 to the Company’s consolidated financial statements for information pertaining to reorganization items recorded in 2015 and 2014.