XML 40 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We determine our operating segments based upon our management and internal reporting structure, as well as the basis that our chief operating decision maker makes resource allocation decisions.
Our Local Media segment includes more than 60 local television stations and their related digital operations. It is comprised of 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. We also have 11 independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunication companies, satellite carriers and over-the-top virtual MVPDs.

Our Scripps Networks segment includes national news outlets Scripps News and Court TV as well as popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. The Scripps Networks reach nearly every U.S. television home through free over-the-air broadcast, cable/satellite, connected TV and/or digital distribution. These operations earn revenue primarily through the sale of advertising.
Our segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. The intercompany carriage fee revenue earned by our local broadcast television stations is equal to the carriage fee expense incurred by our national networks. We also allocate a portion of certain corporate costs and expenses, including accounting, human resources, employee benefit and information technology to our segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount.
The other segment caption aggregates our operating segments that are too small to report separately. Costs for centrally provided services and certain corporate costs that are not allocated to the segments are included in shared services and corporate costs. These unallocated corporate costs would also include the costs associated with being a public company. Corporate assets are primarily cash and cash equivalents, property and equipment primarily used for corporate purposes and deferred income taxes.
Our President and Chief Executive Officer is the Company's chief operating decision maker. He evaluates the monthly operating performance of our segments, including budget-to-actual variances, and makes decisions about the allocation of resources to our segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan amounts, income taxes, depreciation and amortization, impairment charges, 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.
Information regarding our segments is as follows:

For the year ended December 31, 2024
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$1,655,257 $835,809 $2,491,066 
Intersegment revenues19,061 — 19,061 
Reportable segments revenues1,674,318 835,809 2,510,127 
Other revenues(a)
18,706 
Intersegment eliminations(19,061)
Total consolidated operating revenues$2,509,772 
Less:(b)
Employee compensation and benefits437,345 120,862 
Programming(c)
521,615 354,281 
    Other segment items(d)
202,140 170,491 
Segment profit for reportable segments513,218 190,175 $703,393 
Other segment profit (loss)(a)
(31,632)
Shared services and corporate(88,941)
Restructuring costs(33,525)
Depreciation and amortization of intangible assets(155,228)
Gains (losses), net on disposal of property and equipment18,424 
Interest expense(210,344)
Defined benefit pension plan income674 
Miscellaneous, net7,160 
Income (loss) from operations before income taxes$209,981 
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(c) Refer to Note 1. Summary of Significant Accounting Policies for disclosure of costs captured in programming.
(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
For the year ended December 31, 2023
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$1,380,281 $893,234 $2,273,515 
Intersegment revenues17,949 — 17,949 
Reportable segments revenues1,398,230 893,234 2,291,464 
Other revenues(a)
19,397 
Intersegment eliminations(17,949)
Total consolidated operating revenues$2,292,912 
Less:(b)
Employee compensation and benefits435,916 124,669 
Programming(c)
493,578 360,684 
    Other segment items(d)
181,297 182,096 
Segment profit for reportable segments287,439 225,785 $513,224 
Other segment profit (loss)(a)
(26,451)
Shared services and corporate(91,954)
Restructuring costs(38,612)
Depreciation and amortization of intangible assets(155,105)
Impairment of goodwill(952,000)
Gains (losses), net on disposal of property and equipment(2,344)
Interest expense(213,512)
Defined benefit pension plan income650 
Miscellaneous, net(1,407)
Income (loss) from operations before income taxes$(967,511)
For the year ended December 31, 2022
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$1,477,345 $961,242 $2,438,587 
Intersegment revenues17,012 — 17,012 
Reportable segments revenues1,494,357 961,242 2,455,599 
Other revenues(a)
14,628 
Intersegment eliminations(17,012)
Total consolidated operating revenues$2,453,215 
Less:(b)
Employee compensation and benefits425,840 120,202 
Programming(c)
481,712 342,835 
    Other segment items(d)
200,436 187,869 
Segment profit for reportable segments386,369 310,336 $696,705 
Other segment profit (loss)(a)
(18,140)
Shared services and corporate(82,280)
Acquisition and related integration costs(1,642)
Depreciation and amortization of intangible assets(160,433)
Gains (losses), net on disposal of property and equipment(5,866)
Interest expense(161,130)
Gain on extinguishment of debt8,589 
Defined benefit pension plan income2,613 
Miscellaneous, net(1,953)
Income (loss) from operations before income taxes$276,463 
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(c) Refer to Note 1. Summary of Significant Accounting Policies for disclosure of costs captured in programming.
(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
Other segment disclosures are as follows:

For the years ended December 31,
(in thousands)202420232022
Depreciation:
Local Media$41,651 $39,642 $40,479 
Scripps Networks19,199 19,600 19,360 
Total depreciation for reportable segments60,850 59,242 59,839 
Other243 184 189 
Shared services and corporate899 1,299 1,915 
Total depreciation $61,992 $60,725 $61,943 
Amortization of intangible assets:
Local Media34,762 36,322 35,461 
Scripps Networks51,904 52,036 56,836 
Total amortization of intangible assets for reportable segments86,666 88,358 92,297 
Other1,777 1,795 1,870 
Shared services and corporate4,793 4,227 4,323 
Total amortization of intangible assets$93,236 $94,380 $98,490 
Additions to property and equipment:
Local Media45,778 55,244 58,350 
Scripps Networks12,095 5,654 13,444 
Total additions to property and equipment for reportable segments57,873 60,898 71,794 
Other959 75 54 
Shared services and corporate6,645 1,530 374 
Total additions to property and equipment$65,477 $62,503 $72,222 


A disaggregation of the principal activities from which we generate revenue is as follows:
For the years ended December 31,
(in thousands)202420232022
Operating revenues:
Core advertising $1,330,191 $1,444,539 $1,549,277 
Political 362,523 33,460 208,112 
Distribution784,573 779,217 660,317 
Other32,485 35,696 35,509 
Total operating revenues $2,509,772 $2,292,912 $2,453,215 
Total assets by segment for the years ended December 31 were as follows:
As of December 31,
(in thousands)20242023
Assets:
Local Media$2,323,964 $2,393,660 
Scripps Networks2,753,971 2,878,936 
Total assets by reportable segments5,077,935 5,272,596 
Other(a)
34,800 58,460 
Shared services and corporate85,840 79,064 
Total assets$5,198,575 $5,410,120 
(a) Reflects assets of operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units.