v3.26.3
Segment Data (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Breakdown of Selected Financial Information for Reportable Broadcast and TEGNA Segments and Reconciliation of Segment's Profit to Income from Operations

The following table sets forth a breakdown of selected financial information for our reportable Broadcast and TEGNA segments and a reconciliation of their profit to income from operations (in millions):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Broadcast Segment:

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

1,305

 

 

$

1,131

 

 

$

3,764

 

 

$

3,450

 

Programming and related expenses (1)

 

 

(548

)

 

 

(556

)

 

 

(1,650

)

 

 

(1,646

)

Selling, general and administrative expenses (1)

 

 

(176

)

 

 

(184

)

 

 

(534

)

 

 

(543

)

Amortization of broadcast rights (1)

 

 

(14

)

 

 

(14

)

 

 

(43

)

 

 

(45

)

Broadcast segmentʼs profit

 

 

567

 

 

 

377

 

 

 

1,537

 

 

 

1,216

 

TEGNA Segment:

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

 

765

 

 

 

-

 

 

 

1,568

 

 

 

-

 

Programming and related expenses (1)

 

 

(389

)

 

 

-

 

 

 

(825

)

 

 

-

 

Selling, general and administrative expenses (1)

 

 

(125

)

 

 

-

 

 

 

(265

)

 

 

-

 

Amortization of broadcast rights (1)

 

 

(9

)

 

 

-

 

 

 

(20

)

 

 

-

 

TEGNA segmentʼs profit

 

 

242

 

 

 

-

 

 

 

458

 

 

 

-

 

Total reportable segmentsʼ profit

 

 

809

 

 

 

377

 

 

 

1,995

 

 

 

1,216

 

Other segmentsʼ loss, net

 

 

(23

)

 

 

(18

)

 

 

(63

)

 

 

(79

)

Corporate (unallocated)

 

 

(67

)

 

 

(42

)

 

 

(212

)

 

 

(144

)

Depreciation and amortization expense (2)

 

 

(155

)

 

 

(118

)

 

 

(434

)

 

 

(352

)

Transaction and other one-time expenses

 

 

(30

)

 

 

(23

)

 

 

(125

)

 

 

(33

)

Miscellaneous

 

 

(2

)

 

 

(1

)

 

 

(2

)

 

 

(1

)

Income from operations

 

$

532

 

 

$

175

 

 

$

1,159

 

 

$

607

 

 

(1)
The expenses included in the measure of our reportable segments’ profit are as follows:
•
Programming and related expenses – primarily include fees incurred under network affiliation agreements and operating costs to produce and air local news.
•
Selling, general and administrative expenses – primarily include (i) salaries, benefits and payroll taxes, commission, professional fees, travel and software license fees incurred by sales teams and (ii) salaries, benefits and payroll taxes, group insurance and office rental costs incurred in managing the segment’s business units.
•
Amortization of broadcast rights – the amortization of license fees for acquired programs from national program syndicators and certain production companies.
(2)
Includes depreciation of property and equipment and amortization of intangible assets. Excludes amortization of broadcast rights.
Summary of Disaggregation of Revenue

The following tables present the disaggregation of the Company’s revenue by source (in millions):

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Three Months Ended September 30, 2026

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

723

 

 

$

352

 

 

$

34

 

 

$

-

 

 

$

(18

)

 

$

1,091

 

Advertising

 

 

573

 

 

 

405

 

 

 

45

 

 

 

-

 

 

 

-

 

 

 

1,023

 

Other

 

 

9

 

 

 

8

 

 

 

2

 

 

 

1

 

 

 

(1

)

 

 

19

 

Total net revenue

 

$

1,305

 

 

$

765

 

 

$

81

 

 

$

1

 

 

$

(19

)

 

$

2,133

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Nine Months Ended September 30, 2026

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

2,227

 

 

$

768

 

 

$

104

 

 

$

-

 

 

$

(55

)

 

$

3,044

 

Advertising

 

 

1,511

 

 

 

787

 

 

 

135

 

 

 

-

 

 

 

-

 

 

 

2,433

 

Other

 

 

26

 

 

 

13

 

 

 

3

 

 

 

4

 

 

 

(1

)

 

 

45

 

Total net revenue

 

$

3,764

 

 

$

1,568

 

 

$

242

 

 

$

4

 

 

$

(56

)

 

$

5,522

 

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Three Months Ended September 30, 2025

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

694

 

 

$

-

 

 

$

29

 

 

$

-

 

 

$

(14

)

 

$

709

 

Advertising

 

 

427

 

 

 

-

 

 

 

49

 

 

 

-

 

 

 

-

 

 

 

476

 

Other

 

 

10

 

 

 

-

 

 

 

2

 

 

 

3

 

 

 

(2

)

 

 

13

 

Total net revenue

 

$

1,131

 

 

$

-

 

 

$

80

 

 

$

3

 

 

$

(16

)

 

$

1,198

 

 

 

 

Reportable Segments

 

 

Other

 

 

Corporate

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

Broadcast

 

 

TEGNA

 

 

Segments

 

 

(unallocated)

 

 

Eliminations(1)

 

 

Consolidated

 

Distribution

 

$

2,159

 

 

$

-

 

 

$

85

 

 

$

-

 

 

$

(40

)

 

$

2,204

 

Advertising

 

 

1,261

 

 

 

-

 

 

 

149

 

 

 

-

 

 

 

-

 

 

 

1,410

 

Other

 

 

30

 

 

 

-

 

 

 

13

 

 

 

7

 

 

 

(4

)

 

 

46

 

Total net revenue

 

$

3,450

 

 

$

-

 

 

$

247

 

 

$

7

 

 

$

(44

)

 

$

3,660

 

(1) The elimination of distribution revenue represents intersegment revenue generated by Other segments for services provided to the Broadcast segment.