10-Q Filing

GRAY MEDIA, INC CIK: 43196 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-008919`
Period End Date	20150331
Filing Date	20150505
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	gtn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 35 Cash Flow Statement 60 Stockholders Equity 9

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.67M	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.86M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.48M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$224.61M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	70.99M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,863 and $1,667, respectively	`AccountsReceivableNetCurrent`	$99.39M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,863 and $1,667, respectively	`AccountsReceivableNetCurrent`	$106.69M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.33M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.88M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.81M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$18.86M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$18.86M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.43M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$168.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$355.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$221.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$213.79M	USD	Point-in-time
Deferred loan costs, net	`DeferredFinanceCostsNoncurrentNet`	$18.65M	USD	Point-in-time
Deferred loan costs, net	`DeferredFinanceCostsNoncurrentNet`	$17.85M	USD	Point-in-time
Broadcast licenses	`IndefiniteLivedLicenseAgreements`	$1.02B	USD	Point-in-time
Broadcast licenses	`IndefiniteLivedLicenseAgreements`	$1.02B	USD	Point-in-time
Goodwill	`Goodwill`	$374.39M	USD	Point-in-time
Goodwill	`Goodwill`	$374.98M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$46.60M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$47.80M	USD	Point-in-time
Investment in broadcasting company	`CostMethodInvestments`	$13.60M	USD	Point-in-time
Investment in broadcasting company	`CostMethodInvestments`	$13.60M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.44M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$3.11M	USD	Point-in-time
Total assets	`Assets`	$1.87B	USD	Point-in-time
Total assets	`Assets`	$2.05B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.01M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.16M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$18.28M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$30.01M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$17.62M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.49M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$80.02M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$7.16M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$6.22M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$1.75M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$1.89M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.24B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.24B	USD	Point-in-time
Program broadcast obligations, less current portion	`ProgramRightsObligationsNoncurrent`	$1.76M	USD	Point-in-time
Program broadcast obligations, less current portion	`ProgramRightsObligationsNoncurrent`	$2.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$296.57M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$292.68M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$43.33M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$45.73M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$852.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$952.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.66B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.66B	USD	Point-in-time
Common stock	`CommonStockValue`	$654.36M	USD	Point-in-time
Common stock	`CommonStockValue`	$486.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-197.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-202.94M	USD	Point-in-time
Accumulated other comprehensive loss, net of income tax benefit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.81M	USD	Point-in-time
Accumulated other comprehensive loss, net of income tax benefit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.81M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$453.78M	USD	Point-in-time
StockholdersEquityBeforeTreasuryStock	`StockholdersEquityBeforeTreasuryStock`	$279.66M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$41.89M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$41.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$216.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$389.21M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue (less agency commissions)	`SalesRevenueNet`	$91.30M	USD	1 Quarter
Revenue (less agency commissions)	`SalesRevenueNet`	$133.30M	USD	1 Quarter
Broadcast	`OperatingCostsAndExpenses`	$60.38M	USD	1 Quarter
Broadcast	`OperatingCostsAndExpenses`	$86.85M	USD	1 Quarter
Corporate and administrative	`GeneralAndAdministrativeExpense`	$6.50M	USD	1 Quarter
Corporate and administrative	`GeneralAndAdministrativeExpense`	$6.85M	USD	1 Quarter
Depreciation	`Depreciation`	$8.80M	USD	1 Quarter
Depreciation	`Depreciation`	$6.38M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.77M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$289.00K	USD	1 Quarter
(Gain) loss on disposals of assets, net	`GainLossOnDispositionOfAssets`	$-331.00K	USD	1 Quarter
(Gain) loss on disposals of assets, net	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$105.25M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$73.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$28.06M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.41M	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$15.27M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$18.53M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.54M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.14M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$859.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.94M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Net income (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income (in Dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	57.85M	shares	1 Quarter
Weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.22M	shares	1 Quarter
Net income (in Dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income (in Dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.74M	shares	1 Quarter
Weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.29M	shares	1 Quarter
Dividends declared per common share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared per common share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Depreciation	`Depreciation`	$8.80M	USD	1 Quarter
Depreciation	`Depreciation`	$6.38M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.77M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$289.00K	USD	1 Quarter
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$799.00K	USD	1 Quarter
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$692.00K	USD	1 Quarter
Net amortization of original issue discount and premium related to long-term debt	`AmortizationOfDebtDiscountPremium`	$-216.00K	USD	1 Quarter
Net amortization of original issue discount and premium related to long-term debt	`AmortizationOfDebtDiscountPremium`	$-216.00K	USD	1 Quarter
Amortization of restricted stock and stock option awards	`ShareBasedCompensation`	$2.07M	USD	1 Quarter
Amortization of restricted stock and stock option awards	`ShareBasedCompensation`	$993.00K	USD	1 Quarter
Amortization of program broadcast rights	`AmortizationOfProgramBroadcastRights`	$2.91M	USD	1 Quarter
Amortization of program broadcast rights	`AmortizationOfProgramBroadcastRights`	$3.61M	USD	1 Quarter
Payments on program broadcast obligations	`PaymentsOnProgramBroadcastObligations`	$3.59M	USD	1 Quarter
Payments on program broadcast obligations	`PaymentsOnProgramBroadcastObligations`	$3.82M	USD	1 Quarter
Common stock contributed to 401(k) plan	`EmployeeBenefitsAndShareBasedCompensation`	$6.00K	USD	1 Quarter
Common stock contributed to 401(k) plan	`EmployeeBenefitsAndShareBasedCompensation`	$6.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.89M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$849.00K	USD	1 Quarter
(Gain) loss on disposals of assets, net	`GainLossOnDispositionOfAssets`	$-331.00K	USD	1 Quarter
(Gain) loss on disposals of assets, net	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-546.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-2.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-618.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-7.30M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.12M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.85M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$992.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.27M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-12.66M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.38M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.63M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.44M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.24M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.85M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$981.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$129.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-161.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.93M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.66M	USD	1 Quarter
Repayments of borrowings on long-term debt	`RepaymentsOfLongTermDebt`	$108.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$167.53M	USD	1 Quarter
Deferred and other loan costs	`PaymentsOfFinancingCosts`	$105.00K	USD	1 Quarter
Deferred and other loan costs	`PaymentsOfFinancingCosts`	$-4.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-213.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$167.53M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$193.84M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.57M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.48M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$224.61M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.48M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$224.61M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance at December 31, 2014	`StockholdersEquity`	$216.19M	USD	Point-in-time
Balance at December 31, 2014	`StockholdersEquity`	$389.21M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Underwritten public offering	`StockIssuedDuringPeriodValueNewIssues`	$167.53M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.07M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$993.00K	USD	1 Quarter
Balance at March 31, 2015	`StockholdersEquity`	$216.19M	USD	Point-in-time
Balance at March 31, 2015	`StockholdersEquity`	$389.21M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.