Segment Data

6 Months Ended

Jun. 30, 2011

Segment Data

Segment Data

NOTE 9 — SEGMENT DATA

The Company's reportable operating segments, which it believes best reflect how the Company is currently managed, are Radio broadcasting, Americas outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at fair value and eliminated in consolidation. The Radio broadcasting segment also operates various radio networks. The Americas outdoor advertising segment consists of operations primarily in the United States, Canada and Latin America. The International outdoor segment primarily includes operations in Europe, Asia and Australia. The Americas outdoor and International outdoor display inventory consists primarily of billboards, street furniture displays and transit displays. The Other category includes the Company's media representation firm as well as other general support services and initiatives which are ancillary to the Company's other businesses. Corporate includes infrastructure and support including information technology, human resources, legal, finance and administrative functions of each of the Company's operating segments, as well as overall executive, administrative and support functions. Share-based compensation expense is recorded by each segment in direct operating and selling, general and administrative expenses.

The following table presents the Company's operating segment results for the three and six months ended June 30, 2011 and 2010.

(In thousands)	Radio Broadcasting		Americas Outdoor Advertising		International Outdoor Advertising		Other		Corporate and other reconciling items		Eliminations		Consolidated
Three Months Ended June 30, 2011
Revenue	$	780,876	$	340,775	$	448,433	$	59,172	$	—	$	(24,870)	$	1,604,386
Direct operating expenses		215,454		149,493		265,979		24,355		—		(12,941)		642,340
Selling, general and administrative expenses		257,627		55,232		87,705		19,476		—		(11,929)		408,111
Depreciation and amortization		69,033		52,964		52,636		12,809		2,199		—		189,641
Corporate expenses		—		—		—		—		56,486		—		56,486
Other operating income-net		—		—		—		—		3,229		—		3,229
Operating income (loss)	$	238,762	$	83,086	$	42,113	$	2,532	$	(55,456)	$	—	$	311,037
Intersegment revenues	$	9,131	$	745	$	—	$	14,994	$	—	$	—	$	24,870
Capital expenditures	$	13,851	$	36,297	$	23,116	$	—	$	3,219	$	—	$	76,483
Share-based compensation expense	$	882	$	1,674	$	701	$	—	$	2,481	$	—	$	5,738
Three Months Ended June 30, 2010
Revenue	$	748,738	$	323,769	$	377,638	$	62,773	$	—	$	(22,909)	$	1,490,009
Direct operating expenses		198,894		144,298		241,586		27,213		—		(11,075)		600,916
Selling, general and administrative expenses		238,713		64,075		66,617		19,066		—		(11,834)		376,637
Depreciation and amortization		63,812		55,729		49,570		12,925		2,142		—		184,178
Corporate expenses		—		—		—		—		64,109		—		64,109
Other operating income-net		—		—		—		—		3,264		—		3,264
Operating income (loss)	$	247,319	$	59,667	$	19,865	$	3,569	$	(62,987)	$	—	$	267,433
Intersegment revenues	$	7,143	$	790	$	—	$	14,976	$	—	$	—	$	22,909
Capital expenditures	$	6,513	$	15,221	$	22,172	$	—	$	4,179	$	—	$	48,085
Share-based compensation expense	$	1,757	$	2,316	$	692	$	—	$	3,744	$	—	$	8,509
Six Months Ended June 30, 2011
Revenue	$	1,421,221	$	630,089	$	809,333	$	110,435	$	—	$	(45,866)	$	2,925,212
Direct operating expenses		407,562		292,984		513,868		48,243		—		(24,062)		1,238,595
Selling, general and administrative expenses		484,276		109,599		156,518		40,046		—		(21,804)		768,635
Depreciation and amortization		133,489		104,050		103,880		26,094		5,839		—		373,352
Corporate expenses		—		—		—		—		108,833		—		108,833
Other operating income-net		—		—		—		—		19,943		—		19,943
Operating income (loss)	$	395,894	$	123,456	$	35,067	$	(3,948)	$	(94,729)	$	—	$	455,740
Intersegment revenues	$	16,511	$	1,688	$	—	$	27,667	$	—	$	—	$	45,866
Capital expenditures	$	29,858	$	68,698	$	37,076	$	—	$	4,820	$	—	$	140,452
Share-based compensation expense	$	2,436	$	3,842	$	1,604	$	—	$	147	$	—	$	8,029
Six Months Ended June 30, 2010
Revenue	$	1,371,937	$	594,746	$	715,429	$	114,819	$	—	$	(43,144)	$	2,753,787
Direct operating expenses		402,654		283,606		481,164		52,041		—		(21,202)		1,198,263
Selling, general and administrative expenses		465,810		108,552		133,497		40,016		—		(21,942)		725,933
Depreciation and amortization		127,744		105,180		101,828		26,521		4,239		—		365,512
Corporate expenses		—		—		—		—		128,605		—		128,605
Other operating income-net		—		—		—		—		7,036		—		7,036
Operating income (loss)	$	375,729	$	97,408	$	(1,060)	$	(3,759)	$	(125,808)	$	—	$	342,510
Intersegment revenues	$	13,797	$	1,847	$	—	$	27,500	$	—	$	—	$	43,144
Capital expenditures	$	11,102	$	39,926	$	46,790	$	—	$	5,591	$	—	$	103,409
Share-based compensation expense	$	3,506	$	4,346	$	1,295	$	—	$	7,477	$	—	$	16,624