SEGMENT DATA
 12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
SEGMENT DATA
SEGMENT DATA
The Company has two reportable segments, which it believes best reflect how the Company is currently managed – Americas and International.  The Americas segment consists of operations primarily in the United States, and the International segment primarily includes operations in Europe, Asia and Latin America. The Americas and International display inventory consists primarily of billboards, street furniture displays and transit displays.  Corporate includes infrastructure and support including information technology, human resources, legal, finance and administrative functions of each of the Company’s reportable segments, as well as overall executive, administrative and support functions.  Share-based payments are recorded in corporate expenses.
During the first quarter of 2018, the Company revised its segment reporting, as discussed in Note 1.

The following table presents the Company’s reportable segment results for the years ended December 31, 2017, 2016 and 2015:
(In thousands)
Americas Outdoor Advertising
 
International Outdoor Advertising
 
Corporate and other reconciling items
 
Consolidated
Year Ended December 31, 2017
 
 
 
 
 
 
 
Revenue
$
1,161,059

 
$
1,427,643

 
$
—

 
$
2,588,702

Direct operating expenses
527,536

 
882,231

 
—

 
1,409,767

Selling, general and administrative expenses
197,390

 
301,823

 
—

 
499,213

Corporate expenses
—

 
—

 
143,678

 
143,678

Depreciation and amortization
179,119

 
141,812

 
5,060

 
325,991

Impairment charges
—

 
—

 
4,159

 
4,159

Other operating income, net
—

 
—

 
26,391

 
26,391

Operating income (loss)
$
257,014

 
$
101,777

 
$
(126,506
)
 
$
232,285

Segment assets
$
2,850,303

 
$
1,568,388

 
$
252,091

 
$
4,670,782

Capital expenditures
$
70,936

 
$
150,036

 
$
3,266

 
$
224,238

Share-based compensation expense
$
—

 
$
—

 
$
9,590

 
$
9,590

 
 
 
 
 
 
 
 
Year Ended December 31, 2016
 
 
 
 
 
 
 
Revenue
$
1,187,180

 
$
1,492,642

 
$
—

 
$
2,679,822

Direct operating expenses
528,769

 
889,550

 
—

 
1,418,319

Selling, general and administrative expenses
203,427

 
311,994

 
—

 
515,421

Corporate expenses
—

 
—

 
117,436

 
117,436

Depreciation and amortization
175,438

 
162,974

 
5,712

 
344,124

Impairment charges
—

 
—

 
7,274

 
7,274

Other operating income, net
—

 
—

 
354,688

 
354,688

Operating income
$
279,546

 
$
128,124

 
$
224,266

 
$
631,936

Segment assets
$
3,046,369

 
$
1,460,884

 
$
1,201,117

 
$
5,708,370

Capital expenditures
$
78,289

 
$
146,900

 
$
4,583

 
$
229,772

Share-based compensation expense
$
—

 
$
—

 
$
10,291

 
$
10,291

 
 
 
 
 
 
 
 
Year Ended December 31, 2015
 
 
 
 
 
 
 
Revenue
$
1,265,267

 
$
1,540,937

 
$
—

 
$
2,806,204

Direct operating expenses
558,357

 
927,478

 
—

 
1,485,835

Selling, general and administrative expenses
211,329

 
316,492

 
—

 
527,821

Corporate expenses
—

 
—

 
116,523

 
116,523

Depreciation and amortization
193,775

 
176,799

 
5,388

 
375,962

Impairment charges
—

 
—

 
21,631

 
21,631

Other operating expense, net
—

 
—

 
(4,824
)
 
(4,824
)
Operating income (loss)
$
301,806

 
$
120,168

 
$
(148,366
)
 
$
273,608

 
 
 
 
 
 
 
 
Segment assets
$
3,444,922

 
$
1,685,190

 
$
1,165,863

 
$
6,295,975

Capital expenditures
$
71,404

 
$
143,315

 
$
3,613

 
$
218,332

Share-based compensation expense
—

 
—

 
$
8,502

 
$
8,502


Revenue of $1.5 billion, $1.5 billion and $1.6 billion derived from the Company’s foreign operations are included in the data above for the years ended December 31, 2017, 2016 and 2015, respectively. Revenue of $0.3 billion, $0.3 billion and $0.3 billion derived from France are included in the data above for the years ended December 31, 2017, 2016 and 2015, respectively. Revenue of $1.1 billion, $1.1 billion and $1.2 billion derived from the Company’s U.S. operations are included in the data above for the years ended December 31, 2017, 2016 and 2015.
Identifiable long-lived assets of $0.6 billion, $0.5 billion and $0.7 billion derived from the Company’s foreign operations are included in the data above for the years ended December 31, 2017, 2016 and 2015, respectively. Identifiable long-lived assets of $0.3 billion, $0.2 billion and $0.2 billion derived from China are included in the data above for the years ended December 31, 2017, 2016 and 2015, respectively. Identifiable long-lived assets of $0.8 billion, $0.9 billion and $1.0 billion derived from the Company’s U.S. operations are included in the data above for the years ended December 31, 2017, 2016 and 2015, respectively.