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10-Q Filing

GRAY MEDIA, INC CIK: 43196 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001437749-18-008968
Period End Date 20180331
Filing Date 20180508
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance gtn-20180331.xml
Filing Contents
Balance Sheet 82 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulOtherReceivablesCurrent $4.61M USD Point-in-time
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulOtherReceivablesCurrent $4.66M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Common stock, par value (in dollars per share) CommonStockNoParValue - 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 89.32M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 88.79M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 83.25M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 82.04M shares Point-in-time
Treasury stock (in shares) TreasuryStockShares 5.54M shares Point-in-time
Treasury stock (in shares) TreasuryStockShares 7.28M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $462.40M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $23.54M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $443.43M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $4,656 and $4,606, respectively AccountsReceivableNetCurrent $171.23M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $4,656 and $4,606, respectively AccountsReceivableNetCurrent $168.19M USD Point-in-time
Prepaid income taxes PrepaidTaxes $13.79M USD Point-in-time
Prepaid income taxes PrepaidTaxes $22.25M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $4.68M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $6.00M USD Point-in-time
Total current assets AssetsCurrent $649.61M USD Point-in-time
Total current assets AssetsCurrent $666.76M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $350.66M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $343.18M USD Point-in-time
Broadcast licenses IndefiniteLivedLicenseAgreements $1.53B USD Point-in-time
Broadcast licenses IndefiniteLivedLicenseAgreements $1.53B USD Point-in-time
Goodwill Goodwill $611.10M USD Point-in-time
Goodwill Goodwill $611.10M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $68.35M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $73.78M 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 $13.17M USD Point-in-time
Other OtherAssetsNoncurrent $11.26M USD Point-in-time
Total assets Assets $3.23B USD Point-in-time
Total assets Assets $3.26B USD Point-in-time
Accounts payable AccountsPayableCurrent $7.84M USD Point-in-time
Accounts payable AccountsPayableCurrent $3.07M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $30.14M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $21.30M USD Point-in-time
Accrued interest InterestPayableCurrent $23.16M USD Point-in-time
Accrued interest InterestPayableCurrent $26.62M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $11.97M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $7.65M USD Point-in-time
Federal and state income taxes AccruedIncomeTaxesCurrent $8.75M USD Point-in-time
Federal and state income taxes AccruedIncomeTaxesCurrent $9.46M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $4.51M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $4.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $6.42M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $6.42M USD Point-in-time
Total current liabilities LiabilitiesCurrent $100.63M USD Point-in-time
Total current liabilities LiabilitiesCurrent $131.31M USD Point-in-time
Long-term debt, less current portion and deferred financing costs LongTermDebtNoncurrent $1.83B USD Point-in-time
Long-term debt, less current portion and deferred financing costs LongTermDebtNoncurrent $1.83B USD Point-in-time
Program broadcast obligations, less current portion ProgramRightsObligationsNoncurrent $3.82M USD Point-in-time
Program broadcast obligations, less current portion ProgramRightsObligationsNoncurrent $4.28M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $261.69M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $267.40M USD Point-in-time
Accrued pension costs DefinedBenefitPensionPlanLiabilitiesNoncurrent $37.84M USD Point-in-time
Accrued pension costs DefinedBenefitPensionPlanLiabilitiesNoncurrent $37.58M USD Point-in-time
Other OtherLiabilitiesNoncurrent $1.84M USD Point-in-time
Other OtherLiabilitiesNoncurrent $1.84M USD Point-in-time
Total liabilities Liabilities $2.27B USD Point-in-time
Total liabilities Liabilities $2.24B USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $902.52M USD Point-in-time
Common stock CommonStockValue $904.17M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $161.69M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $181.64M USD Point-in-time
Accumulated other comprehensive loss, net of income tax benefit AccumulatedOtherComprehensiveIncomeLossNetOfTax $-22.16M USD Point-in-time
Accumulated other comprehensive loss, net of income tax benefit AccumulatedOtherComprehensiveIncomeLossNetOfTax $-22.16M USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $1.09B USD Point-in-time
Stockholders' equity before treasury stock StockholdersEquityBeforeTreasuryStock $1.07B USD Point-in-time
Treasury stock at cost TreasuryStockValue $72.27M USD Point-in-time
Treasury stock at cost TreasuryStockValue $49.56M USD Point-in-time
Total stockholders equity StockholdersEquity $991.04M USD Point-in-time
Total stockholders equity StockholdersEquity $992.90M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $3.23B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $3.26B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue (less agency commissions) RevenueFromContractWithCustomerExcludingAssessedTax $226.26M USD 1 Quarter
Revenue (less agency commissions) RevenueFromContractWithCustomerExcludingAssessedTax $203.46M USD 1 Quarter
Broadcast OperatingCostsAndExpenses $133.56M USD 1 Quarter
Broadcast OperatingCostsAndExpenses $149.65M USD 1 Quarter
Corporate and administrative GeneralAndAdministrativeExpense $7.71M USD 1 Quarter
Corporate and administrative GeneralAndAdministrativeExpense $8.26M USD 1 Quarter
Depreciation Depreciation $12.63M USD 1 Quarter
Depreciation Depreciation $13.69M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $5.44M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $5.57M USD 1 Quarter
(Gain) loss on disposal of assets, net GainLossOnDispositionOfAssets $-527.00K USD 1 Quarter
(Gain) loss on disposal of assets, net GainLossOnDispositionOfAssets $821.00K USD 1 Quarter
Operating expenses OperatingExpenses $176.22M USD 1 Quarter
Operating expenses OperatingExpenses $159.99M USD 1 Quarter
Operating income OperatingIncomeLoss $50.03M USD 1 Quarter
Operating income OperatingIncomeLoss $43.47M USD 1 Quarter
Miscellaneous income, net OtherNonoperatingIncomeExpense $93.00K USD 1 Quarter
Miscellaneous income, net OtherNonoperatingIncomeExpense $560.00K USD 1 Quarter
Interest expense InterestExpenseDebt $24.25M USD 1 Quarter
Interest expense InterestExpenseDebt $23.19M 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 $26.34M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $7.33M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.40M USD 1 Quarter
Net income NetIncomeLoss $10.51M USD 1 Quarter
Net income NetIncomeLoss $19.95M USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.15 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.22 USD 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 89.06M shares 1 Quarter
Weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 71.88M shares 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.22 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 89.58M 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 80 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $10.51M USD 1 Quarter
Net income NetIncomeLoss $19.95M USD 1 Quarter
Depreciation Depreciation $12.63M USD 1 Quarter
Depreciation Depreciation $13.69M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $5.44M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $5.57M USD 1 Quarter
Amortization of deferred loan costs AmortizationOfFinancingCosts $1.15M USD 1 Quarter
Amortization of deferred loan costs AmortizationOfFinancingCosts $1.16M USD 1 Quarter
Accretion of original issue discount and premium related to long-term debt, net AmortizationOfDebtDiscountPremium $-153.00K USD 1 Quarter
Accretion of original issue discount and premium related to long-term debt, net AmortizationOfDebtDiscountPremium $-153.00K USD 1 Quarter
Amortization of restricted stock and stock option awards ShareBasedCompensation $1.34M USD 1 Quarter
Amortization of restricted stock and stock option awards ShareBasedCompensation $2.16M USD 1 Quarter
Amortization of program broadcast rights AmortizationOfProgramBroadcastRights $5.22M USD 1 Quarter
Amortization of program broadcast rights AmortizationOfProgramBroadcastRights $5.35M USD 1 Quarter
Payments on program broadcast obligations PaymentsOnProgramBroadcastObligations $5.47M USD 1 Quarter
Payments on program broadcast obligations PaymentsOnProgramBroadcastObligations $5.12M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $5.71M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $7.33M USD 1 Quarter
(Gain) loss on disposal of assets, net GainLossOnDispositionOfAssets $-527.00K USD 1 Quarter
(Gain) loss on disposal of assets, net GainLossOnDispositionOfAssets $821.00K 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
Other OtherNoncashIncomeExpense $194.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $761.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $9.87M USD 1 Quarter
Accounts receivable IncreaseDecreaseInReceivables $-3.04M USD 1 Quarter
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $8.46M USD 1 Quarter
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $339.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $1.33M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $1.91M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.85M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-4.77M USD 1 Quarter
Employee compensation, benefits and pension cost IncreaseDecreaseInEmployeeRelatedLiabilities $-10.84M USD 1 Quarter
Employee compensation, benefits and pension cost IncreaseDecreaseInEmployeeRelatedLiabilities $-8.85M USD 1 Quarter
Accrued network fees and other expenses IncreaseDecreaseInAccruedLiabilities $-9.77M USD 1 Quarter
Accrued network fees and other expenses IncreaseDecreaseInAccruedLiabilities $-7.55M USD 1 Quarter
Accrued interest IncreaseDecreaseInInterestPayableNet $-7.76M USD 1 Quarter
Accrued interest IncreaseDecreaseInInterestPayableNet $-3.46M USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $48.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $704.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits $-1.18M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits $503.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $14.41M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-483.00K USD 1 Quarter
Acquisitions of television businesses and licenses PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions of television businesses and licenses PaymentsToAcquireBusinessesNetOfCashAcquired $277.91M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $6.28M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.98M USD 1 Quarter
Proceeds from asset sales ProceedsFromSaleOfPropertyPlantAndEquipment $41.00K USD 1 Quarter
Proceeds from asset sales ProceedsFromSaleOfPropertyPlantAndEquipment $50.00K USD 1 Quarter
Proceeds from FCC Repack (Note 1) ProceedsFromFCCRepack $937.00K USD 1 Quarter
Proceeds from FCC Repack (Note 1) ProceedsFromFCCRepack - USD 1 Quarter
Acquisition prepayments PaymentsToAcquireBusinessesGross $2.50M USD 1 Quarter
Acquisition prepayments PaymentsToAcquireBusinessesGross $8.53M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $15.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $3.03M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-293.39M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-7.82M USD 1 Quarter
Proceeds from borrowings on long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from borrowings on long-term debt ProceedsFromIssuanceOfLongTermDebt $556.44M USD 1 Quarter
Repayments of borrowings on long-term debt RepaymentsOfLongTermDebt $1.60M USD 1 Quarter
Repayments of borrowings on long-term debt RepaymentsOfLongTermDebt $557.83M USD 1 Quarter
Payments for the repurchase of common stock PaymentsForRepurchaseOfCommonStock $19.61M USD 1 Quarter
Payments for the repurchase of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Deferred and other loan costs IncreaseDecreaseInDeferredAndOtherLoanCosts - USD 1 Quarter
Deferred and other loan costs IncreaseDecreaseInDeferredAndOtherLoanCosts $4.61M USD 1 Quarter
Payment for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $4.35M USD 1 Quarter
Payment for taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.77M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-25.56M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-7.77M USD 1 Quarter
Net decrease in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-301.65M USD 1 Quarter
Net decrease in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-18.97M USD 1 Quarter
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $462.40M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $23.54M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $443.43M USD Point-in-time
Cash at beginning of period CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $462.40M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $23.54M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $443.43M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $325.19M USD Point-in-time
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $991.04M USD Point-in-time
Balance StockholdersEquity $992.90M USD Point-in-time
Net income NetIncomeLoss $10.51M USD 1 Quarter
Net income NetIncomeLoss $19.95M USD 1 Quarter
Restricted stock awards StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-3.01M USD 1 Quarter
Restricted stock unit awards StockIssuedDuringPeriodValueRestrictedStockUnitAward $-1.34M USD 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $19.61M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.34M USD 1 Quarter
Share-based compensation ShareBasedCompensation $2.16M USD 1 Quarter
Balance StockholdersEquity $991.04M USD Point-in-time
Balance StockholdersEquity $992.90M USD Point-in-time

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

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