v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company classifies its operations into two operating segments: Domestic Operations and International. These operating segments represent strategic business units that are managed separately.
The Company evaluates segment performance based on operating segment adjusted operating income ("AOI"). The Company defines AOI as operating income (loss) before depreciation and amortization, cloud computing amortization, share-based compensation expenses or benefit, impairment and other charges (including gains or losses on sales or dispositions of businesses), restructuring and other related charges and including the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees. The Company has presented the components that reconcile adjusted operating income to income from operations before income taxes, and other information as to the continuing operations of the Company's operating segments below.
(In thousands)Three Months Ended March 31, 2026
Domestic OperationsInternationalTotal
Revenues, net from external customers
Subscription$305,282 $46,362 $351,644 
Advertising112,847 23,372 136,219 
Content licensing and other52,558 1,706 54,264 
470,687 71,440 542,127 
Inter-segment revenues (Content licensing and other) (a)
— 823 823 
$470,687 $72,263 542,950 
Reconciliation of revenue
    Elimination of inter-segment revenues (a)
(823)
Total consolidated revenues, net$542,127 
Less: (b)
Content expenses209,317 19,815 
Marketing, research, and advertising sales expenses78,732 4,085 
Other (c)
90,377 42,926 
Segment adjusted operating income$92,261 $5,437 $97,698 
Reconciliation of total segment adjusted operating income
    Elimination of inter-segment profits1,510 
    Unallocated corporate overhead costs (d)
(30,234)
Share-based compensation expenses(6,097)
Depreciation and amortization(21,423)
Restructuring and other related charges (4,338)
Cloud computing amortization(2,288)
Majority-owned equity investees AOI(3,567)
Operating income31,261 
Other income (expense):
    Interest expense(41,345)
    Interest income3,124 
    Miscellaneous, net(16,942)
Income (loss) from operations before income taxes$(23,902)
(a) Inter-segment revenues primarily relate to services performed by AMC Global Media International on behalf of businesses within the Domestic Operations segment.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the Chief Operating Decision Maker (the "CODM").
(c) Other for each reportable segment primarily includes employee-related costs, information technology costs, professional services expenses, occupancy expenses, certain overhead expenses and the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees.
(d) Unallocated corporate overhead costs include costs such as executive salaries and benefits and costs of maintaining corporate headquarters, facilities and common support functions.
(In thousands)Three Months Ended March 31, 2025
Domestic OperationsInternationalTotal
Revenues, net from external customers
Subscription$313,373 $44,702 $358,075 
Advertising119,248 22,608 141,856 
Content licensing and other53,366 1,936 55,302 
485,987 69,246 555,233 
Inter-segment revenues (Content licensing and other) (a)
320 700 1,020 
$486,307 $69,946 556,253 
Reconciliation of revenue
    Elimination of inter-segment revenues (a)
(1,020)
Total consolidated revenues, net$555,233 
Less: (b)
Content expenses198,089 18,251 
Marketing, research, and advertising sales expenses80,665 4,279 
Other (c)
83,629 37,565 
Segment adjusted operating income$123,924 $9,851 $133,775 
Reconciliation of total segment adjusted operating income
    Elimination of inter-segment profits(2)
    Unallocated corporate overhead costs (d)
(29,288)
Share-based compensation expenses(5,757)
Depreciation and amortization(20,926)
Restructuring and other related charges(4,789)
Cloud computing amortization(3,213)
Majority-owned equity investees AOI(5,603)
Operating income64,197 
Other income (expense):
    Interest expense(43,392)
    Interest income8,415 
    Miscellaneous, net7,888 
Income from operations before income taxes$37,108 
(a) Inter-segment revenues primarily relate to Domestic Operations content licensing sales to International, as well as services performed by AMC Global Media International on behalf of businesses within the Domestic Operations segment.
(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(c) Other for each reportable segment primarily includes employee-related costs, information technology costs, professional services expenses, occupancy expenses, certain overhead expenses and the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees.
(d) Unallocated corporate overhead costs include costs such as executive salaries and benefits and costs of maintaining corporate headquarters, facilities and common support functions.
Subscription revenues in the Domestic Operations segment include revenues related to the Company's streaming services of $173.8 million and $157.1 million for the three months ended March 31, 2026 and 2025, respectively.
The Company does not disclose total assets for each operating segment because these amounts are not regularly reviewed by the CODM nor are they used in assessing segment performance or deciding how to allocate resources to the segments.
The table below summarizes revenues based on customer location:
(In thousands)Three Months Ended March 31,
20262025
Revenues
United States$437,548 $447,390 
Europe73,771 74,099 
Other30,808 33,744 
$542,127 $555,233 
One customer within the Domestic Operations segment accounted for approximately 20% and 17% of consolidated revenues, net for the three months ended March 31, 2026 and 2025, respectively.
The table below summarizes property and equipment based on asset location:
(In thousands)March 31, 2026December 31, 2025
Property and equipment, net
United States$90,102 $97,357 
Europe14,488 15,282 
Other3,040 3,339 
$107,630 $115,978