Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of segment reporting information



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Operating income:
Broadcast	$	44,675		$	36,540		$	78,149		$	60,698
Digital	(1,422		)	740			(4,100		)	242
Unallocated corporate	(10,525		)	(10,364		)	(24,939		)	(22,248		)
Total operating income	$	32,728		$	26,916		$	49,110		$	38,692



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Depreciation and amortization:
Broadcast	$	14,218	$	15,846	$	28,354	$	32,110
Digital	1,981		1,036		3,756		1,677
Unallocated corporate	594		161		940		323
Total depreciation and amortization	$	16,793	$	17,043	$	33,050	$	34,110



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Capital expenditures:
Broadcast	$	4,368	$	5,640	$	8,305	$	11,369
Digital	1,247		884		2,386		1,683
Unallocated corporate	239		848		772		1,118
Total capital expenditures	$	5,854	$	7,372	$	11,463	$	14,170



	June 30,		December 31,
	2014		2013
	(in thousands)
Assets:
Broadcast	$	1,089,107	$	1,100,343
Digital	93,847		69,690
Unallocated corporate	62,622		46,817
Total assets	$	1,245,576	$	1,216,850



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Net revenues:
Broadcast	$	155,581	$	143,509	$	297,296	$	275,460
Digital	33,184		20,837		57,710		29,878
Total net revenues	$	188,765	$	164,346	$	355,006	$	305,338

Reconciliation of Adjusted EBITDA to consolidated pre-tax income (loss)

The following table is a reconciliation of Adjusted EBITDA to consolidated income before provision for income taxes:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)

Segment Adjusted EBITDA:
Broadcast	$	58,780		$	51,164		$	106,250		$	91,759
Digital	555			1,796			(338		)	1,960
Total segment Adjusted EBITDA	59,335			52,960			105,912			93,719
Unallocated corporate Adjusted EBITDA	(5,975		)	(5,189		)	(13,226		)	(9,808		)
Less:
Depreciation	11,087			11,320			21,773			22,958
Amortization of intangible assets	5,706			5,723			11,277			11,152
Amortization of program rights	6,788			7,152			13,381			14,937
Share-based compensation	2,039			2,587			4,346			4,528
Non-recurring⁽¹⁾and acquisition-related charges	1,925			1,960			6,484			5,011
Restructuring charge	—			391			—			2,523
Loss on sale of assets	5			87			99			182
Add:
Cash payments for programming	6,918			8,365			13,784			16,072
Operating income	32,728			26,916			49,110			38,692
Other expense:
Interest expense, net	14,150			14,428			28,359			28,299
Share of loss in equity investments	25			25			100			25
Other (income) expense, net	(101		)	84			(83		)	60
Total other expense, net	14,074			14,537			28,376			28,384
Consolidated income before provision for income taxes	$	18,654		$	12,379		$	20,734		$	10,308

_______________________________

⁽¹⁾Non-recurring charges for the three and six months ended June 30, 2014 primarily consist of expenses related to the Merger and non-recurring charges for the three and six months ended June 30, 2013 primarily consist of expenses related to the 2013 LIN LLC Merger.

LIN Television Corporation

Entity Information [Line Items]

Schedule of segment reporting information



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Operating income:
Broadcast	$	44,675		$	36,540		$	78,149		$	60,698
Digital	(1,422		)	740			(4,100		)	242
Unallocated corporate	(10,173		)	(10,364		)	(24,235		)	(22,248		)
Total operating income	$	33,080		$	26,916		$	49,814		$	38,692



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Depreciation and amortization:
Broadcast	$	14,218	$	15,846	$	28,354	$	32,110
Digital	1,981		1,036		3,756		1,677
Unallocated corporate	594		161		940		323
Total depreciation and amortization	$	16,793	$	17,043	$	33,050	$	34,110



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Capital expenditures:
Broadcast	$	4,368	$	5,640	$	8,305	$	11,369
Digital	1,247		884		2,386		1,683
Unallocated corporate	239		848		772		1,118
Total capital expenditures	$	5,854	$	7,372	$	11,463	$	14,170



	June 30,		December 31,
	2014		2013
	(in thousands)
Assets:
Broadcast	$	1,089,107	$	1,100,343
Digital	93,847		69,690
Unallocated corporate	60,937		46,917
Total assets	$	1,243,891	$	1,216,950



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(in thousands)				(in thousands)
Net revenues:
Broadcast	$	155,581	$	143,509	$	297,296	$	275,460
Digital	33,184		20,837		57,710		29,878
Total net revenues	$	188,765	$	164,346	$	355,006	$	305,338

Reconciliation of Adjusted EBITDA to consolidated pre-tax income (loss)

The following table is a reconciliation of Adjusted EBITDA to consolidated income before provision for income taxes:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)

Segment Adjusted EBITDA:
Broadcast	$	58,780		$	51,164		$	106,250		$	91,759
Digital	555			1,796			(338		)	1,960
Total segment Adjusted EBITDA	59,335			52,960			105,912			93,719
Unallocated corporate Adjusted EBITDA	(5,623		)	(5,189		)	(12,522		)	(9,808		)
Less:
Depreciation	11,087			11,320			21,773			22,958
Amortization of intangible assets	5,706			5,723			11,277			11,152
Amortization of program rights	6,788			7,152			13,381			14,937
Share-based compensation	2,039			2,587			4,346			4,528
Non-recurring⁽¹⁾ and acquisition-related charges	1,925			1,960			6,484			5,011
Restructuring charge	—			391			—			2,523
Loss on sale of assets	5			87			99			182
Add:
Cash payments for programming	6,918			8,365			13,784			16,072
Operating income	33,080			26,916			49,814			38,692
Other expense:
Interest expense, net	14,171			14,428			28,400			28,299
Share of loss in equity investments	25			25			100			25
Other (income) expense, net	(101		)	84			(83		)	60
Total other expense, net	14,095			14,537			28,417			28,384
Consolidated income before provision for income taxes	$	18,985		$	12,379		$	21,397		$	10,308

______________________________

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

LIN TELEVISION CORP 10-Q