Information as to the operations of the Companys reportable segments is set forth below. Year ended June 30, 2019 MSG Entertainment MSG Sports Corporate and Other Purchase accounting adjustments Inter-segment eliminations Total Revenues $ 819,930 $ 812,746 $  $  $ (1,608 ) $ 1,631,068 Direct operating expenses 507,091 485,899 531 4,240 (684 ) 997,077 Selling, general and administrative expenses (a) 208,577 196,548 123,347 725 (525 ) 528,672 Depreciation and amortization (b) 18,170 7,778 75,714 17,531  119,193 Operating income (loss) 86,092 122,521 (199,592 ) (22,496 ) (399 ) (13,874 ) Equity in earnings of equity method investments 7,062 Interest income 30,205 Interest expense (20,410 ) Miscellaneous expense, net (4,752 ) Loss from operations before income taxes $ (1,769 ) Reconciliation of operating income (loss) to adjusted operating income (loss): Operating income (loss) 86,092 122,521 (199,592 ) (22,496 ) (399 ) (13,874 ) Add back: Share-based compensation expense 14,086 16,373 29,015   59,474 Depreciation and amortization 18,170 7,778 75,714 17,531  119,193 Other purchase accounting adjustments    4,965  4,965 Adjusted operating income (loss) $ 118,348 $ 146,672 $ (94,863 ) $  $ (399 ) $ 169,758 Other information: Capital expenditures (c) $ 18,719 $ 4,832 $ 165,283 $  $  $ 188,834 Year ended June 30, 2018 MSG Entertainment MSG Sports Corporate and Other Purchase accounting adjustments Inter-segment eliminations Total Revenues $ 780,726 $ 778,653 $  $  $ (284 ) $ 1,559,095 Direct operating expenses 482,873 456,932 120 4,635 (284 ) 944,276 Selling, general and administrative expenses (a) 192,001 185,139 91,840 223 73 469,276 Depreciation and amortization (b) 18,515 7,481 78,356 18,134  122,486 Operating income (loss) 87,337 129,101 (170,316 ) (22,992 ) (73 ) 23,057 Loss in equity method investments (7,770 ) Interest income 21,582 Interest expense (15,415 ) Miscellaneous expense, net (3,878 ) Income from operations before income taxes $ 17,576 Reconciliation of operating income (loss) to adjusted operating income (loss): Operating income (loss) 87,337 129,101 (170,316 ) (22,992 ) (73 ) 23,057 Add back: Share-based compensation expense 12,500 15,498 19,565   47,563 Depreciation and amortization 18,515 7,481 78,356 18,134  122,486 Other purchase accounting adjustments    4,858  4,858 Adjusted operating income (loss) $ 118,352 $ 152,080 $ (72,395 ) $  $ (73 ) $ 197,964 Other information: Capital expenditures (c) $ 24,403 $ 4,552 $ 162,959 $  $  $ 191,914 Year ended June 30, 2017 MSG Entertainment MSG Sports Corporate and Other Purchase accounting adjustments Total Revenues $ 506,468 $ 811,984 $  $  $ 1,318,452 Direct operating expenses (d) 377,962 472,995  9,466 860,423 Selling, general and administrative expenses (a) 119,552 207,959 79,440  406,951 Depreciation and amortization (b) 11,339 9,319 83,578 3,152 107,388 Operating income (loss) (2,385 ) 121,711 (163,018 ) (12,618 ) (56,310 ) Loss in equity method investments (e) (29,976 ) Interest income 11,836 Interest expense (4,189 ) Miscellaneous expense, net (2,554 ) Loss from operations before income taxes $ (81,193 ) Reconciliation of operating income (loss) to adjusted operating income (loss): Operating income (loss) (2,385 ) 121,711 (163,018 ) (12,618 ) (56,310 ) Add back: Share-based compensation expense 14,323 14,548 12,258  41,129 Depreciation and amortization 11,339 9,319 83,578 3,152 107,388 Other purchase accounting adjustments    9,466 9,466 Adjusted operating income (loss) $ 23,277 $ 145,578 $ (67,182 ) $  $ 101,673 Other information: Capital expenditures $ 11,460 $ 2,393 $ 30,371 $  $ 44,224 _________________ (a) Corporate and Others selling, general and administrative expenses primarily consist of unallocated corporate general and administrative costs, including expenses associated with the Company  s business development initiatives, as well as costs associated with the development of MSG Sphere, including technology and content development costs. (b) Corporate and Other principally includes depreciation and amortization on The Garden, Hulu Theater at Madison Square Garden , the Forum, and certain corporate property, equipment and leasehold improvement assets not allocated to the Companys reportable segments. (c) Significant majority of Corporate and Others capital expenditures for the years ended June 30, 2019 and 2018 are related to the Companys planned MSG Spheres in Las Vegas and London including the purchase of land in London in fiscal year 2018. MSG Entertainments capital expenditures for the years ended June 30, 2019 and 2018 are primarily associated with the opening of a new TAO Group venue including certain investments with respect to Radio City Music Hall in fiscal year 2018. (d) MSG Entertainments direct operating expenses for the years ended June 30, 2017 include $33,629 , of write-offs of deferred production costs associated with the New York Spectacular production (see Note 2 ). (e) Loss in equity method investments for the year ended June 30, 2017 reflects a pre-tax non-cash impairment charge of $20,613 to write off the carrying value of its equity investment in Fuse Media (see Note 7 ).