SEGMENT DATA

We manage our business on a geographical basis, with six operating segments: Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia, which are also our reportable segments and our main operating countries. These segments reflect how CME Ltd.’s operating performance is evaluated by our chief operating decision makers, who we have identified as our co-Chief Executive Officers; how operations are managed by segment managers; and the structure of our internal financial reporting.

Our segments generate revenues primarily from the sale of advertising and sponsorship on our channels. This is supplemented by revenues from cable and satellite television service providers to carry our channels on their platforms and from revenues through the sale of distribution rights to third parties. Intersegment revenues and profits have been eliminated in consolidation.

We evaluate our consolidated results and the performance of our segments based on net revenues and OIBDA (as defined below). We believe OIBDA is useful to investors because it provides a meaningful representation of our performance as it excludes certain items that either do not impact our cash flows or the operating results of our operations. OIBDA is also used as a component in determining management bonuses.

OIBDA includes amortization and impairment of program rights and is determined as operating income / loss before depreciation, amortization of intangible assets, impairments of assets and certain unusual or infrequent items that are not considered by our chief operating decision makers when evaluating our performance. Stock-based compensation and certain other items are not allocated to our segments for purposes of evaluating their performance and therefore are not included in their respective OIBDA.

Below are tables showing our net revenues, OIBDA, total assets, capital expenditures and long-lived assets for our continuing operations by segment for the three and six months ended June 30, 2016 and 2015 for condensed consolidated statements of operations and comprehensive income / loss data and condensed consolidated statements of cash flow data; and as at June 30, 2016 and December 31, 2015 for condensed consolidated balance sheet data.



Net revenues:	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Bulgaria	$	20,455		$	19,420		$	36,314		$	36,204
Croatia	16,559			16,242			28,204			28,235
Czech Republic	50,919			52,131			89,527			87,096
Romania	48,929			44,034			81,299			77,556
Slovak Republic	22,540			20,236			41,602			37,774
Slovenia	16,116			15,063			27,769			26,543
Intersegment revenues ⁽¹⁾	(312		)	(292		)	(509		)	(441		)
Total net revenues	$	175,206		$	166,834		$	304,206		$	292,967


⁽¹⁾	Reflects revenues earned from the sale of content to other country segments in CME Ltd. All other revenues are third party revenues.



OIBDA and reconciliation of OIBDA to condensed consolidated statements of operations and comprehensive income / loss:	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Bulgaria	$	5,954		$	4,045		$	7,023		$	6,243
Croatia	4,501			4,972			5,902			6,834
Czech Republic	23,099			24,238			33,173			34,329
Romania	22,962			15,419			32,424			18,780
Slovak Republic	3,158			3,627			5,551			3,482
Slovenia	1,624			963			916			1,323
Elimination	(62		)	15			(68		)	(35		)
Total operating segments	61,236			53,279			84,921			70,956
Corporate	(7,604		)	(6,468		)	(14,181		)	(12,697		)
Total OIBDA	53,632			46,811			70,740			58,259
Depreciation of property, plant and equipment	(7,627		)	(6,936		)	(14,912		)	(13,937		)
Amortization of broadcast licenses and other intangibles	(2,114		)	(3,434		)	(4,174		)	(6,933		)
Other items ⁽¹⁾	—			—			—			(18,187		)
Operating income	43,891			36,441			51,654			19,202
Interest expense (Note 14)	(29,545		)	(41,746		)	(78,699		)	(81,864		)
Loss on extinguishment of debt (Note 4)	(150,158		)	—			(150,158		)	—
Non-operating (expense) / income, net (Note 15)	(167		)	(2,904		)	1,249			(15,645		)
Loss before tax	$	(135,979	)	$	(8,209	)	$	(175,954	)	$	(78,307	)


⁽¹⁾	Other items for the six months ended June 30, 2015 consists solely of a charge related to a tax audit of Pro TV in Romania which was subsequently reversed in the third quarter of 2015.



Total assets ⁽¹⁾:	June 30, 2016		December 31, 2015
Bulgaria	$	134,480	$	134,418
Croatia	54,494		52,306
Czech Republic	720,949		746,269
Romania	268,733		261,984
Slovak Republic	123,627		121,122
Slovenia	74,732		70,911
Total operating segments	1,377,015		1,387,010
Corporate	44,938		53,407
Total assets	$	1,421,953	$	1,440,417


⁽¹⁾	Segment assets exclude any intercompany balances.



Capital expenditures:	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
Bulgaria	$	806	$	764	$	988	$	1,463
Croatia	803		407		1,080		935
Czech Republic	1,312		2,080		2,863		4,576
Romania	605		1,867		2,334		2,587
Slovak Republic	291		601		824		1,747
Slovenia	455		626		1,715		1,560
Total operating segments	4,272		6,345		9,804		12,868
Corporate	939		636		1,483		1,594
Total capital expenditures	$	5,211	$	6,981	$	11,287	$	14,462



Long-lived assets ⁽¹⁾:	June 30, 2016		December 31, 2015
Bulgaria	$	5,462	$	5,602
Croatia	5,742		5,497
Czech Republic	38,028		39,907
Romania	21,180		20,873
Slovak Republic	15,224		15,606
Slovenia	14,227		15,082
Total operating segments	99,863		102,567
Corporate	5,781		5,955
Total long-lived assets	$	105,644	$	108,522


⁽¹⁾	Reflects property, plant and equipment.



Consolidated revenue by type:	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
Television advertising	$	149,012	$	141,557	$	253,183	$	243,172
Carriage fees and subscriptions	19,862		18,427		39,071		37,205
Other	6,332		6,850		11,952		12,590
Total net revenues	$	175,206	$	166,834	$	304,206	$	292,967