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10-Q Filing

GRAY MEDIA, INC CIK: 43196 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001437749-17-007981
Period End Date 20170331
Filing Date 20170504
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance gtn-20170331.xml
Filing Contents
Balance Sheet 82 line items
Line Item Tag Value Unit Period
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 100.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 71.54M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 71.23M shares Point-in-time
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulOtherReceivablesCurrent $3.16K USD Point-in-time
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulOtherReceivablesCurrent $3.62K USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 5.21M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $23.54M 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 5.14M shares Point-in-time
Accounts receivable, less allowance for doubtful accounts of $3,622 and $3,163, respectively AccountsReceivableNetCurrent $156.76M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $3,622 and $3,163, respectively AccountsReceivableNetCurrent $146.81M USD Point-in-time
Prepaid taxes PrepaidTaxes $14.98M USD Point-in-time
Prepaid taxes PrepaidTaxes $14.64M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $5.11M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.11M USD Point-in-time
Total current assets AssetsCurrent $505.49M USD Point-in-time
Total current assets AssetsCurrent $212.16M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $339.98M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $326.09M USD Point-in-time
Broadcast licenses IndefiniteLivedLicenseAgreements $1.49B USD Point-in-time
Broadcast licenses IndefiniteLivedLicenseAgreements $1.34B USD Point-in-time
Goodwill Goodwill $571.71M USD Point-in-time
Goodwill Goodwill $485.32M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $56.25M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $70.78M USD Point-in-time
Deferred tax asset DeferredTaxAssetsLiabilitiesNetCurrent $30.83M USD Point-in-time
Deferred tax asset DeferredTaxAssetsLiabilitiesNetCurrent $31.98M USD Point-in-time
Investment in broadcasting and technology companies CostMethodInvestments $16.60M USD Point-in-time
Investment in broadcasting and technology companies CostMethodInvestments $16.60M USD Point-in-time
Other OtherAssetsNoncurrent $22.45M USD Point-in-time
Other OtherAssetsNoncurrent $29.93M USD Point-in-time
Total assets (1) Assets $2.77B USD Point-in-time
Total assets (1) Assets $2.78B USD Point-in-time
Accounts payable AccountsPayableCurrent $3.41M USD Point-in-time
Accounts payable AccountsPayableCurrent $5.26M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $20.60M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $31.37M USD Point-in-time
Accrued interest InterestPayableCurrent $24.69M USD Point-in-time
Accrued interest InterestPayableCurrent $32.45M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $13.80M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $8.39M USD Point-in-time
Federal and state income taxes AccruedIncomeTaxesCurrent $3.28M USD Point-in-time
Federal and state income taxes AccruedIncomeTaxesCurrent $2.92M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $3.52M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $4.71M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent - USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.56M USD Point-in-time
Total current liabilities LiabilitiesCurrent $92.55M USD Point-in-time
Total current liabilities LiabilitiesCurrent $119.41M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $1.75B USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $1.76B USD Point-in-time
Program broadcast obligations, less current portion ProgramRightsObligationsNoncurrent $5.00M USD Point-in-time
Program broadcast obligations, less current portion ProgramRightsObligationsNoncurrent $4.53M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $380.89M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $373.84M USD Point-in-time
Accrued pension costs DefinedBenefitPensionPlanLiabilitiesNoncurrent $33.34M USD Point-in-time
Accrued pension costs DefinedBenefitPensionPlanLiabilitiesNoncurrent $34.05M USD Point-in-time
Other OtherLiabilitiesNoncurrent $1.43M USD Point-in-time
Other OtherLiabilitiesNoncurrent $1.44M USD Point-in-time
Total liabilities Liabilities $2.26B USD Point-in-time
Total liabilities Liabilities $2.29B USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $658.91M USD Point-in-time
Common stock CommonStockValue $658.13M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-89.75M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-101.36M USD Point-in-time
Accumulated other comprehensive loss, net of income tax benefit AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.64M USD Point-in-time
Accumulated other comprehensive loss, net of income tax benefit AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.64M USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $560.89M USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $573.85M USD Point-in-time
Treasury stock at cost, common stock, 5,213,038 shares and 5,135,406 shares, respectively TreasuryStockValue $44.69M USD Point-in-time
Treasury stock at cost, common stock, 5,213,038 shares and 5,135,406 shares, respectively TreasuryStockValue $45.56M USD Point-in-time
Total stockholders equity StockholdersEquity $504.05M USD Point-in-time
Total stockholders equity StockholdersEquity $492.86M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $2.78B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $2.77B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue (less agency commissions) SalesRevenueNet $203.46M USD 1 Quarter
Revenue (less agency commissions) SalesRevenueNet $173.72M USD 1 Quarter
Broadcast OperatingCostsAndExpenses $108.57M USD 1 Quarter
Broadcast OperatingCostsAndExpenses $133.47M USD 1 Quarter
Corporate and administrative GeneralAndAdministrativeExpense $7.71M USD 1 Quarter
Corporate and administrative GeneralAndAdministrativeExpense $15.68M USD 1 Quarter
Depreciation Depreciation $11.13M USD 1 Quarter
Depreciation Depreciation $12.63M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $5.57M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.89M USD 1 Quarter
Loss (gain) on disposal of assets, net GainLossOnDispositionOfAssets $1.65M USD 1 Quarter
Loss (gain) on disposal of assets, net GainLossOnDispositionOfAssets $-527.00K USD 1 Quarter
Operating expenses OperatingExpenses $137.61M USD 1 Quarter
Operating expenses OperatingExpenses $159.90M USD 1 Quarter
Operating income OperatingIncomeLoss $43.56M USD 1 Quarter
Operating income OperatingIncomeLoss $36.11M USD 1 Quarter
Miscellaneous income, net OtherNonoperatingIncomeExpense $569.00K USD 1 Quarter
Miscellaneous income, net OtherNonoperatingIncomeExpense $7.00K USD 1 Quarter
Interest expense InterestExpenseDebt $23.19M USD 1 Quarter
Interest expense InterestExpenseDebt $21.27M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-2.54M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $17.83M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $15.40M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $7.33M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.42M USD 1 Quarter
Net income NetIncomeLoss $8.99M USD 1 Quarter
Net income NetIncomeLoss $10.51M USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.15 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.13 USD 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 71.79M shares 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 71.88M shares 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.12 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.14 USD 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 72.52M shares 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 72.58M 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 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $8.99M USD 1 Quarter
Net income NetIncomeLoss $10.51M USD 1 Quarter
Depreciation Depreciation $11.13M USD 1 Quarter
Depreciation Depreciation $12.63M USD 1 Quarter
Amortization of Intangible Assets AmortizationOfIntangibleAssets $5.57M USD 1 Quarter
Amortization of Intangible Assets AmortizationOfIntangibleAssets $3.89M USD 1 Quarter
Amortization of deferred loan costs AmortizationOfFinancingCosts $1.15M 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 $-153.00K USD 1 Quarter
Amortization of restricted stock and stock option awards ShareBasedCompensation $1.28M USD 1 Quarter
Amortization of restricted stock and stock option awards ShareBasedCompensation $1.34M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-2.54M USD 1 Quarter
Loss from early extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Amortization of program broadcast rights AmortizationOfProgramBroadcastRights $4.40M USD 1 Quarter
Amortization of program broadcast rights AmortizationOfProgramBroadcastRights $5.22M USD 1 Quarter
Payments on program broadcast obligations PaymentsOnProgramBroadcastObligations $3.98M USD 1 Quarter
Payments on program broadcast obligations PaymentsOnProgramBroadcastObligations $5.12M USD 1 Quarter
Common stock contributed to 401(k) plan EmployeeBenefitsAndShareBasedCompensation $7.00K USD 1 Quarter
Common stock contributed to 401(k) plan EmployeeBenefitsAndShareBasedCompensation $6.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $5.89M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $7.33M USD 1 Quarter
Loss (gain) on disposal of assets, net GainLossOnDispositionOfAssets $1.65M USD 1 Quarter
Loss (gain) on disposal of assets, net GainLossOnDispositionOfAssets $-527.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $768.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $505.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $9.87M USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $-3.25M USD 1 Quarter
Prepaid taxes IncreaseDecreaseInPrepaidTaxes - USD 1 Quarter
Prepaid taxes IncreaseDecreaseInPrepaidTaxes $339.00K USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-895.00K USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.91M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.33M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.85M USD 1 Quarter
Employee compensation, benefits and pension cost IncreaseDecreaseInEmployeeRelatedLiabilities $-8.65M USD 1 Quarter
Employee compensation, benefits and pension cost IncreaseDecreaseInEmployeeRelatedLiabilities $-10.84M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherOperatingLiabilities $-10.27M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherOperatingLiabilities $-8.74M USD 1 Quarter
Accrued interest IncreaseDecreaseInInterestPayableNet $12.71M USD 1 Quarter
Accrued interest IncreaseDecreaseInInterestPayableNet $-7.76M USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $48.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $160.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-483.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $29.71M USD 1 Quarter
Acquisitions of television businesses and licenses PaymentsToAcquireBusinessesNetOfCashAcquired $427.45M USD 1 Quarter
Acquisitions of television businesses and licenses PaymentsToAcquireBusinessesNetOfCashAcquired $277.91M USD 1 Quarter
Proceeds from sale of television station ProceedsFromDivestitureOfBusinesses - USD 1 Quarter
Proceeds from sale of television station ProceedsFromDivestitureOfBusinesses $11.20M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.98M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.93M USD 1 Quarter
Proceeds from asset sales ProceedsFromSaleOfPropertyPlantAndEquipment $50.00K USD 1 Quarter
Proceeds from asset sales ProceedsFromSaleOfPropertyPlantAndEquipment $1.85M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $11.56M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-167.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-293.39M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-420.16M USD 1 Quarter
Proceeds from borrowings on long-term debt ProceedsFromIssuanceOfLongTermDebt $556.44M USD 1 Quarter
Proceeds from borrowings on long-term debt ProceedsFromIssuanceOfLongTermDebt $425.00M USD 1 Quarter
Repayments of borrowings on long-term debt RepaymentsOfLongTermDebt $557.83M USD 1 Quarter
Repayments of borrowings on long-term debt RepaymentsOfLongTermDebt $1.06M USD 1 Quarter
Deferred and other loan costs IncreaseDecreaseInDeferredAndOtherLoanCosts $8.70M USD 1 Quarter
Deferred and other loan costs IncreaseDecreaseInDeferredAndOtherLoanCosts $4.61M USD 1 Quarter
Payments for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.45M USD 1 Quarter
Payments for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.77M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $413.79M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-7.77M USD 1 Quarter
Net (decrease) increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $23.34M USD 1 Quarter
Net (decrease) increase in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-301.65M USD 1 Quarter
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $23.54M 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 end of period CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $23.54M 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
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $504.05M USD Point-in-time
Balance StockholdersEquity $492.86M USD Point-in-time
Adoption of ASU 2016-09 excess tax benefit for stock-based compensation CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $1.11M USD Point-in-time
Net income NetIncomeLoss $8.99M USD 1 Quarter
Net income NetIncomeLoss $10.51M USD 1 Quarter
401(k) plan StockIssuedDuringPeriodValueEmployeeBenefitPlan $7.00K USD 1 Quarter
2007 Long Term Incentive Plan -restricted stock StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-1.77M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.28M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.34M USD 1 Quarter
Balance StockholdersEquity $504.05M USD Point-in-time
Balance StockholdersEquity $492.86M USD Point-in-time

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

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