SEGMENT DATA

6 Months Ended

Jun. 30, 2019

SEGMENT DATA:

We measure segment performance based on operating income (loss). Our broadcast segment includes stations in 89 markets located throughout the continental United States. Other primarily consists of original networks and content, non-broadcast digital and internet solutions, technical services, and other non-media investments. All of our businesses are located within the United States. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. Other and Corporate are not reportable segments but are included for reconciliation purposes.

We had $3.4 million and $3.8 million in intercompany interest expense related to intercompany loans between the broadcast segment, other, and corporate for the three months ended June 30, 2019 and 2018, respectively. We had $7.1 million and $7.6 million in intercompany interest expense related to intercompany loans between the broadcast segment, other, and corporate for the six months ended June 30, 2019 and 2018, respectively.

Segment financial information is included in the following tables for the periods presented (in thousands):



As of June 30, 2019	Broadcast		Other		Corporate		Consolidated
Assets	$	4,828,998	$	726,311	$	998,357	$	6,553,666



For the three months ended June 30, 2019	Broadcast			Other			Corporate			Consolidated
Revenue	$	659,624		$	111,095		$	—		$	770,719
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	59,504			6,319			19			65,842
Amortization of program contract costs and net realizable value adjustments	22,084			—			—			22,084
Corporate general and administrative expenses	32,569			263			18,823			51,655
(Gain) loss on asset dispositions and other, net of impairment	(14,122		)	134			—			(13,988		)
Operating income (loss)	134,918			(10,077		)	(18,842		)	105,999
Interest expense	1,300			195			52,183			53,678
(Loss) income from equity method investments	—			(11,929		)	85			(11,844		)



For the three months ended June 30, 2018	Broadcast			Other			Corporate			Consolidated
Revenue	$	642,279		$	87,864		$	—		$	730,143
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	58,964			7,251			19			66,234
Amortization of program contract costs and net realizable value adjustments	24,710			—			—			24,710
Corporate general and administrative expenses	26,590			221			2,874			29,685
Gain on asset dispositions and other, net of impairment	(1,301		)	(3,440		)	—			(4,741		)
Operating income (loss)	140,607			(6,132		)	(2,893		)	131,582
Interest expense	1,438			198			90,635			92,271
Loss from equity method investments	—			(17,256		)	(434		)	(17,690		)



For the six months ended June 30, 2019	Broadcast			Other			Corporate			Consolidated
Revenue	$	1,278,125		$	214,697		$	—		$	1,492,822
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	122,185			10,103			38			132,326
Amortization of program contract costs and net realizable value adjustments	46,021			—			—			46,021
Corporate general and administrative expenses	58,329			420			20,632			79,381
(Gain) loss on asset dispositions and other, net of impairment	(22,142		)	347			(102		)	(21,897		)
Operating income (loss)	230,145			(9,980		)	(20,568		)	199,597
Interest expense	2,783			387			105,134			108,304
(Loss) income from equity method investments	—			(25,881		)	400			(25,481		)



For the six months ended June 30, 2018	Broadcast				Other				Corporate			Consolidated
Revenue	$	1,238,172			$	157,324			$	—		$	1,395,496
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	122,833				14,293				38			137,164
Amortization of program contract costs and net realizable value adjustments	51,660				—				—			51,660
Corporate general and administrative expenses	48,334				476				5,471			54,281
(Gain) loss on asset dispositions and other, net of impairment	(85,400		)	(b)	59,550			(a)	—			(25,850		)
Operating income (loss)	316,774			(b)	(72,368		)	(a)	(5,509		)	238,897
Interest expense	2,809				400				158,804			162,013
(Loss) income from equity method investments	—				(31,617		)		1,340			(30,277		)


(a)	Includes a $59.6 million impairment to the carrying value of a consolidated real estate venture.

(b)

Includes a gain of $83.3 million related to the auction proceeds. See Note 2. Acquisitions and Dispositions of Assets.