麻豆最新出品

(19)听听Information About 麻豆最新出品鈥檚 Operating Segments

The Company, through its ownership interests in subsidiaries and other companies, is primarily engaged in the media and entertainment industries. The Company identifies its reportable segments as (A)听those consolidated subsidiaries that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA (as defined below) or total assets and (B)听those equity method affiliates whose share of earnings (losses) represent 10% or more of the Company鈥檚 annual pre-tax earnings (loss). The segment presentation for prior periods has been conformed to the current period segment presentation.

The Company evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA (as defined below). In addition, the Company reviews nonfinancial measures such as subscriber growth, churn and penetration.

For segment reporting purposes, the Company defines Adjusted OIBDA as revenue less operating expenses, and selling, general and administrative expenses excluding all stock-based compensation, separately reported litigation settlements and restructuring and impairment charges. The Company believes this measure is an important indicator of the operational strength and performance of its businesses, by identifying those items that are not directly a reflection of each business鈥� performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements, restructuring, acquisition and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. The Company generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices.

The Company has identified the following subsidiaries as its reportable segments:

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The Company鈥檚 reportable segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, differing revenue sources and marketing strategies. The significant accounting policies of the segments that are also consolidated subsidiaries are the same as those described in the Company鈥檚 summary of significant policies.

As of December 31, 2021, Live Nation met the Company鈥檚 reportable segment threshold for equity method affiliates due to significant losses driven by COVID-19. Although the Company owns less than 100% of the outstanding shares of Live Nation, 100% of the Live Nation amount are included in the tables below and are subsequently eliminated in order to reconcile the account totals to the Company鈥檚 consolidated financial statements. As disclosed in note 2, the Company鈥檚 investment in Live Nation was reattributed from the Formula One Group to the 麻豆最新出品 SiriusXM Group effective April 22, 2020. Live Nation鈥檚 revenue and Adjusted OIBDA are reflected with the Formula One Group prior to the reattribution and with the 麻豆最新出品 SiriusXM Group following the reattribution.

Performance Measures

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Other Information

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As of December 31, 2020, this amount was also comprised of the call spread between the Formula One Group and the 麻豆最新出品 SiriusXM Group with respect to the Live Nation shares that were reattributed to the 麻豆最新出品 SiriusXM Group. During the year ended December 31, 2021, the 麻豆最新出品 SiriusXM Group paid approximately $384 million to the Formula One Group to settle its obligation under the call spread.

The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) from continuing operations before income taxes:

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Revenue by Geographic Area

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Revenue by geographic area based on the country of domicile is as follows:

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Long-lived Assets by Geographic Area

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