10-Q Filing

GRAY MEDIA, INC CIK: 43196 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-031169`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	gtn-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 36 Cash Flow Statement 68 Stockholders Equity 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulOtherReceivablesCurrent`	$2.27M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulOtherReceivablesCurrent`	$1.79M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	71.23B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	70.99B	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$224.61M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$120.65M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$97.32M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	4.88B	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	4.94B	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $2,269 and $1,794, respectively	`AccountsReceivableNetCurrent`	$137.84M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $2,269 and $1,794, respectively	`AccountsReceivableNetCurrent`	$121.47M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$49.69M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$49.44M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.46M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$285.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$323.24M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$322.83M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$234.47M	USD	Point-in-time
Broadcast licenses	`IndefiniteLivedLicenseAgreements`	$1.11B	USD	Point-in-time
Broadcast licenses	`IndefiniteLivedLicenseAgreements`	$1.34B	USD	Point-in-time
Goodwill	`Goodwill`	$423.24M	USD	Point-in-time
Goodwill	`Goodwill`	$484.66M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$53.28M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$69.13M	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`	$3.04M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$5.78M	USD	Point-in-time
Total assets	`Assets`	$2.56B	USD	Point-in-time
Total assets	`Assets`	$2.13B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.53M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$21.84M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$28.98M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$12.72M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$25.43M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$14.35M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$11.71M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$771.00K	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$931.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.51M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.56M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$87.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$92.08M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.63B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.22B	USD	Point-in-time
Program broadcast obligations, less current portion	`ProgramRightsObligationsNoncurrent`	$2.05M	USD	Point-in-time
Program broadcast obligations, less current portion	`ProgramRightsObligationsNoncurrent`	$2.17M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$357.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$351.55M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$36.34M	USD	Point-in-time
Accrued pension costs	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$35.86M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$701.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$648.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.12B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.70B	USD	Point-in-time
Common stock	`CommonStockValue`	$656.14M	USD	Point-in-time
Common stock	`CommonStockValue`	$655.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-154.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-163.64M	USD	Point-in-time
Accumulated other comprehensive loss, net of income tax benefit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.28M	USD	Point-in-time
Accumulated other comprehensive loss, net of income tax benefit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.28M	USD	Point-in-time
Stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$493.85M	USD	Point-in-time
Stockholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$504.13M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$42.69M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$41.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$429.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$438.10M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.13B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.56B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue (less agency commissions)	`SalesRevenueNet`	$133.30M	USD	1 Quarter
Revenue (less agency commissions)	`SalesRevenueNet`	$173.72M	USD	1 Quarter
Broadcast	`OperatingCostsAndExpenses`	$108.57M	USD	1 Quarter
Broadcast	`OperatingCostsAndExpenses`	$86.85M	USD	1 Quarter
Corporate and administrative	`GeneralAndAdministrativeExpense`	$6.85M	USD	1 Quarter
Corporate and administrative	`GeneralAndAdministrativeExpense`	$15.68M	USD	1 Quarter
Depreciation	`Depreciation`	$8.80M	USD	1 Quarter
Depreciation	`Depreciation`	$11.13M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.89M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.77M	USD	1 Quarter
Gain on disposal of assets, net	`GainLossOnDispositionOfAssets`	$1.65M	USD	1 Quarter
Gain on disposal of assets, net	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$105.25M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$137.61M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$36.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$28.06M	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$569.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$18.53M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$21.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.54M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.94M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.22M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	71.79M	shares	1 Quarter
Net income (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	72.58M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.74M	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 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Depreciation	`Depreciation`	$8.80M	USD	1 Quarter
Depreciation	`Depreciation`	$11.13M	USD	1 Quarter
Amortization of Intangible Assets	`AmortizationOfIntangibleAssets`	$3.89M	USD	1 Quarter
Amortization of Intangible Assets	`AmortizationOfIntangibleAssets`	$2.77M	USD	1 Quarter
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$799.00K	USD	1 Quarter
Amortization of deferred loan costs	`AmortizationOfFinancingCosts`	$1.07M	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`	$993.00K	USD	1 Quarter
Amortization of restricted stock and stock option awards	`ShareBasedCompensation`	$1.28M	USD	1 Quarter
Amortization of program broadcast rights	`AmortizationOfProgramBroadcastRights`	$3.61M	USD	1 Quarter
Amortization of program broadcast rights	`AmortizationOfProgramBroadcastRights`	$4.40M	USD	1 Quarter
Payments on program broadcast obligations	`PaymentsOnProgramBroadcastObligations`	$3.59M	USD	1 Quarter
Payments on program broadcast obligations	`PaymentsOnProgramBroadcastObligations`	$3.98M	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`	$5.89M	USD	1 Quarter
Gain on disposal of assets, net	`GainLossOnDispositionOfAssets`	$1.65M	USD	1 Quarter
Gain on disposal of assets, net	`GainLossOnDispositionOfAssets`	$18.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$505.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-2.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-7.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-3.25M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-895.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.12M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.33M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-12.66M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-20.22M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.71M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.38M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.24M	USD	1 Quarter
Acquisitions of television businesses and licenses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisitions of television businesses and licenses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$427.45M	USD	1 Quarter
Proceeds from Divestiture of Businesses	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Proceeds from Divestiture of Businesses	`ProceedsFromDivestitureOfBusinesses`	$11.20M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.85M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.93M	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.85M	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-167.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$129.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.93M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-420.16M	USD	1 Quarter
Proceeds from borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$425.00M	USD	1 Quarter
Repayments of borrowings on long-term debt	`RepaymentsOfLongTermDebt`	$1.06M	USD	1 Quarter
Repayments of borrowings on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$167.53M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Deferred and other loan costs	`PaymentsOfFinancingCosts`	$-4.00K	USD	1 Quarter
Deferred and other loan costs	`PaymentsOfFinancingCosts`	$8.70M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$415.24M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$167.53M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.34M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$193.84M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$224.61M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$120.65M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$97.32M	USD	Point-in-time
Cash at beginning 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`	$120.65M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$97.32M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$429.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$438.10M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.99M	USD	1 Quarter
401(k) plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$-1.45K	USD	1 Quarter
Restricted stock awards	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$-1.45K	USD	1 Quarter
Amortization of restricted stock and stock option awards	`ShareBasedCompensation`	$993.00K	USD	1 Quarter
Amortization of restricted stock and stock option awards	`ShareBasedCompensation`	$1.28M	USD	1 Quarter
Balance	`StockholdersEquity`	$429.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$438.10M	USD	Point-in-time

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