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 calculated 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 nine months ended September 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 September 30, 2016 and December 31, 2015 for condensed consolidated balance sheet data.



Net revenues:	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2016			2015			2016			2015
Bulgaria	$	13,789		$	14,673		$	50,103		$	50,877
Croatia	9,833			9,949			38,037			38,184
Czech Republic	39,031			35,575			128,558			122,671
Romania	36,970			32,005			118,269			109,561
Slovak Republic	17,864			17,223			59,466			54,997
Slovenia	9,555			8,606			37,324			35,149
Intersegment revenues ⁽¹⁾	(336		)	(709		)	(845		)	(1,150		)
Total net revenues	$	126,706		$	117,322		$	430,912		$	410,289


⁽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 September 30,						For the Nine Months Ended September 30,
	2016			2015			2016			2015
Bulgaria	$	1,943		$	2,223		$	8,966		$	8,466
Croatia	(516		)	(909		)	5,386			5,925
Czech Republic	13,180			9,483			46,353			43,812
Romania	12,606			6,953			45,030			25,733
Slovak Republic	(383		)	358			5,168			3,840
Slovenia	(746		)	(1,556		)	170			(233		)
Elimination	11			(225		)	(57		)	(260		)
Total operating segments	26,095			16,327			111,016			87,283
Corporate	(8,081		)	(7,974		)	(22,262		)	(20,671		)
Total OIBDA	18,014			8,353			88,754			66,612
Depreciation of property, plant and equipment	(7,557		)	(6,974		)	(22,469		)	(20,911		)
Amortization of broadcast licenses and other intangibles	(2,073		)	(2,695		)	(6,247		)	(9,628		)
Other items ⁽¹⁾	—			30,169			—			11,982
Operating income	8,384			28,853			60,038			48,055
Interest expense (Note 14)	(27,636		)	(43,998		)	(106,335		)	(125,862		)
Loss on extinguishment of debt (Note 4)	—			—			(150,158		)	—
Non-operating income / (expense), net (Note 15)	387			(6,477		)	1,636			(22,122		)
Loss before tax	$	(18,865	)	$	(21,622	)	$	(194,819	)	$	(99,929	)


⁽¹⁾	Other items for the three and nine months ended September 30, 2015 consists solely of the reversal of charges related to a tax audit of Pro TV in Romania, which were accrued in the fourth quarter of 2014 and in the first quarter of 2015 and fully released in the third quarter of 2015.



Total assets ⁽¹⁾:	September 30, 2016		December 31, 2015
Bulgaria	$	134,160	$	134,418
Croatia	52,248		52,306
Czech Republic	724,669		746,269
Romania	292,242		261,984
Slovak Republic	125,566		121,122
Slovenia	71,320		70,911
Total operating segments	1,400,205		1,387,010
Corporate	44,031		53,407
Total assets	$	1,444,236	$	1,440,417


⁽¹⁾	Segment assets exclude any intercompany balances.



Capital expenditures:	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2016		2015		2016		2015
Bulgaria	$	1,840	$	1,614	$	2,828	$	3,077
Croatia	305		1,273		1,385		2,208
Czech Republic	1,454		4,415		4,317		8,991
Romania	2,693		2,298		5,027		4,885
Slovak Republic	462		460		1,286		2,207
Slovenia	1,523		927		3,238		2,487
Total operating segments	8,277		10,987		18,081		23,855
Corporate	283		895		1,766		2,489
Total capital expenditures	$	8,560	$	11,882	$	19,847	$	26,344



Long-lived assets ⁽¹⁾:	September 30, 2016		December 31, 2015
Bulgaria	$	6,368	$	5,602
Croatia	5,946		5,497
Czech Republic	37,701		39,907
Romania	23,528		20,873
Slovak Republic	15,328		15,606
Slovenia	15,004		15,082
Total operating segments	103,875		102,567
Corporate	5,549		5,955
Total long-lived assets	$	109,424	$	108,522


⁽¹⁾	Reflects property, plant and equipment.



Consolidated revenue by type:	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2016		2015		2016		2015
Television advertising	$	101,287	$	93,882	$	354,470	$	337,054
Carriage fees and subscriptions	19,745		17,731		58,816		54,936
Other	5,674		5,709		17,626		18,299
Total net revenues	$	126,706	$	117,322	$	430,912	$	410,289