. 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 and six months ended June 30, 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 June 30, 2018 and December 31, 2017 for condensed consolidated balance sheet data.



Net revenues:	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2018			2017			2018			2017
Bulgaria	$	23,427		$	20,774		$	42,860		$	36,079
Czech Republic	61,028			53,371			112,562			92,845
Romania	49,594			48,570			95,555			87,514
Slovak Republic	26,770			24,624			49,723			42,964
Intersegment revenues ⁽¹⁾	(1,264		)	(444		)	(1,963		)	(775		)
Total net revenues	$	159,555		$	146,895		$	298,737		$	258,627


⁽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 June 30,						For the Six Months Ended June 30,
OIBDA:	2018			2017			2018			2017
Bulgaria	$	5,622		$	2,985		$	8,603		$	4,243
Czech Republic	28,251			25,377			43,621			36,124
Romania	24,196			22,071			43,089			36,531
Slovak Republic	3,906			7,409			5,009			8,157
Elimination	28			24			40			16
Total operating segments	62,003			57,866			100,362			85,071
Corporate	(6,346		)	(6,210		)	(14,038		)	(12,323		)
Total OIBDA	55,657			51,656			86,324			72,748
Depreciation of property, plant and equipment	(7,548		)	(6,450		)	(14,914		)	(12,409		)
Amortization of broadcast licenses and other intangibles	(2,267		)	(2,053		)	(4,623		)	(4,162		)
Operating income	45,842			43,153			66,787			56,177
Interest expense (Note 15)	(10,441		)	(17,428		)	(25,453		)	(36,421		)
Other non-operating (expense) / income, net (Note 16)	(6,936		)	6,908			(2,888		)	9,140
Income before tax	$	28,465		$	32,633		$	38,446		$	28,896



Total assets: ⁽¹⁾	June 30, 2018		December 31, 2017
Bulgaria	$	136,462	$	155,885
Czech Republic	773,098		842,716
Romania	294,633		307,286
Slovak Republic	150,674		149,866
Total operating segments	1,354,867		1,455,753
Corporate	24,802		24,146
Assets held for sale (Note 3)	142,623		148,156
Total assets	$	1,522,292	$	1,628,055


⁽¹⁾	Segment assets exclude any intercompany balances.



Capital expenditures:	For the Six Months Ended June 30,
	2018		2017
Bulgaria	$	1,349	$	2,019
Czech Republic	3,539		5,088
Romania	1,528		2,966
Slovak Republic	1,080		900
Total operating segments	7,496		10,973
Corporate	338		1,003
Total capital expenditures	$	7,834	$	11,976



Long-lived assets: ⁽¹⁾	June 30, 2018		December 31, 2017
Bulgaria	$	8,005	$	7,863
Czech Republic	39,978		46,146
Romania	28,680		28,515
Slovak Republic	17,415		17,450
Total operating segments	94,078		99,974
Corporate	2,703		3,674
Total long-lived assets	$	96,781	$	103,648


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

Revenues from contracts with customers comprised the following for the three and six months ended June 30, 2018 and 2017:



Consolidated revenue by type:	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2018		2017		2018		2017
Television advertising	$	130,939	$	120,603	$	242,735	$	209,656
Carriage fees and subscriptions	22,874		21,165		46,171		40,051
Other	5,742		5,127		9,831		8,920
Total net revenues	$	159,555	$	146,895	$	298,737	$	258,627

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.