Note 14. Segment Reporting (Continued) SHENANDOAH TELECOMMUNICATIONS COMPANY ■  36 Holding Telco CATV ShenTel Leasing Operating revenues - external: (in thousands) 2003 $ - $ 22,729 $ 4,433 $ 6,897 $ 14 2002 - 22,461 4,358 6,312  20 2001 - 21,599 3,810 5,078 25 Operating revenues - internal: 2003 $ - $ 3,062 $ 24 $ 307 $ - 2002 - 2,888 5 349 - 2001 - 2,532 2 362 - Depreciation and amortization: 2003 $ 196 $ 4,279 $ 777 $ 410 $ - 2002 196 3,798 718 414 - 2001 196 3,609 1,354 472 - Operating income (loss): 2003 $ (726 $ 1 1,927 $ 890 $ 1,469 $ 4 2002 (555) 11,908 1,145 776 11 2001 (504) 12,321 54 168 10 Non-operating income less expenses: 2003 $ 4,275 $ (151) $ (31) $9 $ 1 2002 4,966 (474) (23) (93)  1 2001 3,804 646  (184)  (36) 1 Interest expense: 2003 $ 3 , 070 $ 443 $ 514 $ 171 $ - 2002 3,540 662 583 165 - 2001 2,664 1,428 690 237 - Income tax expense (benefit) from continuing operations: 2003 $ 29 $ 4,268 $ 146 $ 501 $ 2 2002  (3,363) 3,237 198 191 5 2001 5,117 4,373  (312)  (32) 4 Income (loss) from continuing operations: 2003 $ 7 $ 7,064 $ 200 $ 805 $ 3 2002 (5,771) 7,536 341 327 8 2001 8,463 7,167  (509)  (73) 7 Income from discontinued operations, net of taxes: 2003 $ - $ 12 $ - $ - $ - 2002 - 72 2 - - 2001 - 72 2 - - Net income (loss) including cumulative effect 2003 $ 7 $ 7,076 $ 200 $ 805 $ 3 2002 (5,771) 7,608 343 327 8 2001 8,463 7,239 (507) (73) 7 Total assets: 2003 $141,658 $ 57,533 $ 10,340 $ 6,721 $188 2002 112,765 59,554 10,961 6,255 187 2001 114,280 56,090 11,480 5,373 254 (726) 11,927 3,070 - - - SHENANDOAH TELECOMMUNICATIONS COMPANY AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Selected financial data for each segment is as follows: