. SEGMENT DATA

We manage our business on a geographical basis, with five operating segments: Bulgaria, 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 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.

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, 2019 and 2018 for condensed consolidated statements of operations and comprehensive income / loss data and condensed consolidated statements of cash flow data; and as at March 31, 2019 and December 31, 2018 for condensed consolidated balance sheet data.



Net revenues:	For the Three Months Ended March 31,
	2019			2018
Bulgaria	$	19,293		$	19,433
Czech Republic	50,316			51,534
Romania	38,810			45,961
Slovak Republic	21,332			22,953
Slovenia	17,850			17,530
Intersegment revenues ⁽¹⁾	(1,042		)	(702		)
Total net revenues	$	146,559		$	156,709


⁽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:	2019			2018
Bulgaria	$	6,121		$	2,981
Czech Republic	14,947			15,370
Romania	17,533			18,893
Slovak Republic	1,729			1,103
Slovenia	4,931			4,653
Elimination	48			16
Total operating segments	45,309			43,016
Corporate	(7,252		)	(7,692		)
Total OIBDA	38,057			35,324
Depreciation of property, plant and equipment	(8,226		)	(8,387		)
Amortization of broadcast licenses and other intangibles	(2,194		)	(2,356		)
Operating income	27,637			24,581
Interest expense (Note 15)	(8,242		)	(17,818		)
Other non-operating (expense) / income, net (Note 16)	(3,097		)	4,208
Income before tax	$	16,298		$	10,971



Total assets: ⁽¹⁾	March 31, 2019		December 31, 2018
Bulgaria	$	141,175	$	142,165
Czech Republic	740,905		771,286
Romania	272,740		297,937
Slovak Republic	144,972		146,252
Slovenia	86,391		89,440
Total operating segments	1,386,183		1,447,080
Corporate	59,486		41,281
Total assets	$	1,445,669	$	1,488,361


⁽¹⁾	Segment assets exclude any intercompany balances.



Capital expenditures:	For the Three Months Ended March 31,
	2019		2018
Bulgaria	$	774	$	451
Czech Republic	1,687		2,507
Romania	417		576
Slovak Republic	202		411
Slovenia	1,219		1,271
Total operating segments	4,299		5,216
Corporate	66		153
Total capital expenditures	$	4,365	$	5,369



Long-lived assets: ⁽¹⁾	March 31, 2019		December 31, 2018
Bulgaria	$	10,838	$	10,627
Czech Republic	37,292		39,314
Romania	30,116		33,368
Slovak Republic	15,469		16,376
Slovenia	14,919		15,955
Total operating segments	108,634		115,640
Corporate	1,713		1,964
Total long-lived assets	$	110,347	$	117,604


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

Revenues from contracts with customers comprised the following for the three months ended March 31, 2019 and 2018:



Consolidated revenue by type:	For the Three Months Ended March 31,
	2019		2018
Television advertising	$	111,047	$	123,306
Carriage fees and subscriptions	29,550		28,564
Other	5,962		4,839
Total net revenues	$	146,559	$	156,709

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.