18. SEGMENT DATA The Companys management has determined that the Company operates in three reportable segments as of December 31, 2019, based upon the type of advertising medium, which segments are television broadcasting, radio broadcasting, and digital media. The Companys segments results reflect information presented on the same basis that is used for internal management reporting and it is also how the chief operating decision maker evaluates the business. Television Broadcasting The Company owns and/or operates 56 primary television stations located primarily in California, Colorado, Connecticut, Florida, Kansas, Massachusetts, Nevada, New Mexico, Texas and Washington, D.C. The Company generates revenue from advertising, retransmission consent agreements and the monetization of spectrum usage rights in these markets. Radio Broadcasting The Company owns and operates 49 radio stations (38 FM and 11 AM) located primarily in Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas. The Company owns and operates a national sales representation division, Entravision Solutions, through which the Company sells advertisements and syndicates radio programming to more than 100 markets across the United States. Digital Media The Company owns and operates digital media operations, offering mobile, digital and other interactive media platforms and services on Internet-connected devices, including local websites and social media, which provide users with news information and other content. On April 4, 2017, the Company completed the acquisition of Headway, a provider of mobile, programmatic, data and performance digital marketing solutions primarily in the United States, Mexico and other markets in Latin America. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses, change in fair value of contingent consideration, impairment charge, other operating (gain) loss, and foreign currency (gain) loss. The Company generated 18%, 18% and 7% and of its revenue outside the United States during the years ended December 31, 2019, 2018 and 2017, respectively. The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands): Years Ended December 31, % Change % Change 2019 2018 2017 2019 to 2018 2018 to 2017 Net Revenue Revenue from advertising and retransmission consent Television $ 136,593 $ 149,935 $ 148,059 (9 )% 1 % Radio 55,013 63,922 66,934 (14 )% (4 )% Digital 68,908 80,982 57,098 (15 )% 42 % Total 260,514 294,839 272,091 (12 )% 8 % Revenue from spectrum usage rights (television) 13,061 2,976 263,943 339 % (99 )% Consolidated 273,575 297,815 536,034 (8 )% (44 )% Cost of revenue - television (spectrum usage rights)   12,340 * (100 )% Cost of revenue - digital media 36,757 45,096 32,998 (18 )% 37 % Direct operating expenses Television 61,778 62,434 59,454 (1 )% 5 % Radio 39,277 41,287 44,572 (5 )% (7 )% Digital 18,357 21,521 15,257 (15 )% 41 % Consolidated 119,412 125,242 119,283 (5 )% 5 % Selling, general and administrative expenses Television 22,638 21,864 22,276 4 % (2 )% Radio 17,423 18,081 18,743 (4 )% (4 )% Digital 13,904 11,590 8,097 20 % 43 % Consolidated 53,965 51,535 49,116 5 % 5 % Depreciation and amortization Television 10,059 9,024 9,760 11 % (8 )% Radio 1,866 2,490 2,673 (25 )% (7 )% Digital 4,723 4,759 3,978 (1 )% 20 % Consolidated 16,648 16,273 16,411 2 % (1 )% Segment operating profit (loss) Television 55,179 59,589 308,172 (7 )% (81 )% Radio (3,553 ) 2,064 946 * 118 % Digital (4,833 ) (1,984 ) (3,232 ) 144 % (39 )% Consolidated 46,793 59,669 305,886 (22 )% (80 )% Corporate expenses 28,067 26,865 27,937 4 % (4 )% Change in fair value of contingent consideration (6,478 ) (1,202 )  439 % * Impairment charge 32,097   * * Foreign currency (gain) loss 754 1,616 350 (53 )% 362 % Other operating (gain) loss (5,994 ) (1,187 ) (262 ) 405 % 353 % Operating income (loss) $ (1,653 ) $ 33,577 $ 277,861 * (88 )% Capital expenditures Television $ 24,174 $ 14,336 $ 10,945 Radio 792 350 1,679 Digital 318 1,031 64 Consolidated $ 25,284 $ 15,717 $ 12,688 Total assets Television $ 465,758 $ 487,929 $ 556,942 Radio 138,463 121,020 126,248 Digital 51,979 81,460 82,949 Consolidated $ 656,200 $ 690,409 $ 766,139