. SEGMENT DATA

We manage our business on a geographical basis, with four operating segments: Bulgaria, the Czech Republic, Romania and the Slovak Republic, 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 that carry our channels on their platforms and from revenues through the sale of distribution rights to third parties. We do not rely on any single major customer or group of major customers. 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. From January 1, 2018, stock-based compensation and certain operating costs incurred on behalf of our segments at the corporate level have been allocated to our segments for purposes of evaluating their performance. Prior period information has been recast to conform to the current period presentation.

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 months ended March 31, 2018 and 2017 for condensed consolidated statements of operations and comprehensive income / loss data and condensed consolidated statements of cash flow data; and as at March 31, 2018 and December 31, 2017 for condensed consolidated balance sheet data.



Net revenues:	For the Three Months Ended March 31,
	2018			2017
Bulgaria	$	19,433		$	15,305
Czech Republic	51,534			39,474
Romania	45,961			38,944
Slovak Republic	22,953			18,340
Intersegment revenues ⁽¹⁾	(699		)	(331		)
Total net revenues	$	139,182		$	111,732


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



OIBDA:	For the Three Months Ended March 31,
OIBDA:	2018			2017
Bulgaria	$	2,981		$	1,258
Czech Republic	15,370			10,747
Romania	18,893			14,460
Slovak Republic	1,103			748
Elimination	12			(8		)
Total operating segments	38,359			27,205
Corporate	(7,692		)	(6,113		)
Total OIBDA	30,667			21,092
Depreciation of property, plant and equipment	(7,366		)	(5,959		)
Amortization of broadcast licenses and other intangibles	(2,356		)	(2,109		)
Operating income	20,945			13,024
Interest expense (Note 15)	(15,012		)	(18,993		)
Loss on extinguishment of debt (Note 5)	(109		)	—
Other non-operating income, net (Note 16)	4,157			2,232
Income / (loss) before tax	$	9,981		$	(3,737	)



Total assets: ⁽¹⁾	March 31, 2018		December 31, 2017
Bulgaria	$	150,696	$	155,885
Czech Republic	841,942		842,716
Romania	303,362		307,286
Slovak Republic	159,121		149,866
Total operating segments	1,455,121		1,455,753
Corporate	51,324		24,146
Assets held for sale	143,481		148,156
Total assets	$	1,649,926	$	1,628,055


⁽¹⁾	Segment assets exclude any intercompany balances.



Capital expenditures:	For the Three Months Ended March 31,
	2018		2017
Bulgaria	$	451	$	133
Czech Republic	2,507		3,198
Romania	576		1,709
Slovak Republic	411		465
Total operating segments	3,945		5,505
Corporate	153		529
Total capital expenditures	$	4,098	$	6,034



Long-lived assets: ⁽¹⁾	March 31, 2018		December 31, 2017
Bulgaria	$	8,930	$	7,863
Czech Republic	45,213		46,146
Romania	29,723		28,515
Slovak Republic	18,606		17,450
Total operating segments	102,472		99,974
Corporate	3,378		3,674
Total long-lived assets	$	105,850	$	103,648


⁽¹⁾	Reflects property, plant and equipment, net.

Revenues from contracts with customers comprised the following at March 31, 2018 and December 31, 2017:



Consolidated revenue by type:	For the Three Months Ended March 31,
	2018		2017
Television advertising	$	111,796	$	89,053
Carriage fees and subscriptions	23,297		18,886
Other	4,089		3,793
Total net revenues	$	139,182	$	111,732

Management reviews the performance of our operations based on the above revenue types as well as on a geographic basis as described above. Management does not review other disaggregations of revenues from contracts with customers.