Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information

We determine our business segments based upon our management and internal reporting structure. Our reportable segments are strategic businesses that offer different products and services.

Our television segment includes 10 ABC affiliates, three NBC affiliates, one independent station that we operate as a duopoly with our Kansas City NBC affiliate and five Azteca America affiliates. Our television stations reach approximately 13% of the nation’s households. Television stations earn revenue primarily from the sale of advertising time to local and national advertisers and retransmission fees received from cable and satellite operators.

Our newspaper segment includes daily and community newspapers in 13 markets across the United States. Newspapers earn revenue primarily from the sale of advertising space to local and national advertisers and newspaper subscription fees.

Syndication and other primarily includes certain digital operations outside our television and newspaper markets and syndication of news features and comics and other features for the newspaper industry.

We allocate a portion of certain corporate costs and expenses, including information technology, certain employee benefits, digital operation services and other shared services, to our business segments. The allocations are generally amounts agreed upon by management, which may differ from an arms-length amount. Corporate assets are primarily cash, cash equivalents, restricted cash, property and equipment primarily used for corporate purposes, and deferred income taxes. A portion of our digital operations, which are not allocated to our television and newspaper segments, is included in shared services and corporate.

Our chief operating decision maker evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan expense (other than current service cost), income taxes, depreciation and amortization, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America.

Effective January 1, 2013, we began recording the expenses to grow digital operations in shared services and corporate. We have recast the prior periods for this change.

Information regarding our business segments is as follows:

	For the years ended December 31,
(in thousands)	2013			2012			2011
Segment operating revenues:
Television	$	422,763		$	493,896		$	300,598
Newspapers	384,514			399,091			414,289
Syndication and other	9,594			10,471			13,773
Total operating revenues	$	816,871		$	903,458		$	728,660
Segment profit (loss):
Television	$	99,790		$	159,917		$	51,989
Newspapers	27,965			27,595			26,417
Syndication and other	102			(347		)	(1,343		)
Shared services and corporate	(52,563		)	(39,678		)	(30,634		)
Depreciation and amortization of intangibles	(47,762		)	(49,332		)	(40,069		)
Impairment of long-lived assets	—			—			(9,000		)
(Losses) gains, net on disposal of property, plant and equipment	(166		)	(474		)	124
Defined benefit pension plan expense	(8,837		)	(8,620		)	(8,135		)
Acquisition and related integration costs	—			(5,826		)	(2,787		)
Separation and restructuring costs	(4,893		)	(9,335		)	(9,935		)
Interest expense	(10,448		)	(12,246		)	(1,640		)
Miscellaneous, net	(11,760		)	(4,747		)	(675		)
(Loss) income from operations before income taxes	$	(8,572	)	$	56,907		$	(25,688	)
Depreciation:
Television	$	22,561		$	23,022		$	16,579
Newspapers	16,204			18,186			20,914
Syndication and other	78			55			138
Shared services and corporate	1,996			995			1,191
Total depreciation	$	40,839		$	42,258		$	38,822
Amortization of intangibles:
Television	$	6,378		$	6,413		$	318
Newspapers	545			661			929
Total amortization of intangibles	$	6,923		$	7,074		$	1,247

The following table presents additions to property, plant and equipment by segment:

	For the years ended December 31,
(in thousands)	2013		2012		2011
Additions to property, plant and equipment:
Television	$	12,595	$	19,947	$	10,215
Newspapers	2,399		2,771		1,793
Syndication and other	—		780		362
Shared services and corporate	6,361		6,712		273
Total additions to property, plant and equipment	$	21,355	$	30,210	$	12,643

Total assets by segment for the years ended December 31 were as follows:

	As of December 31,
(in thousands)	2013		2012		2011
Assets:
Television	$	410,529	$	415,174	$	432,584
Newspapers	261,974		278,110		296,414
Syndication and other	2,017		3,837		1,783
Investments	11,652		15,171		16,776
Shared services and corporate	279,958		318,476		222,971
Total assets	$	966,130	$	1,030,768	$	970,528

No single customer provides more than 10% of our revenue.