10-Q/A Filing

TOWNSQUARE MEDIA, INC. CIK: 1499832 Q2 2014

Filing Information

Form Type	10-Q/A
Accession Number	`0001499832-14-000034`
Period End Date	20140630
Filing Date	20140902
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	tsq-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 78 Cash Flow Statement 74 Stockholders Equity 4

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.91M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.68M	USD	Point-in-time
Debt Instrument, Unamortized Premium	`DebtInstrumentUnamortizedPremium`	$8.90M	USD	Point-in-time
Debt Instrument, Unamortized Premium	`DebtInstrumentUnamortizedPremium`	$8.05M	USD	Point-in-time
Cash	`Cash`	$22.30M	USD	Point-in-time
Cash	`Cash`	$45.65M	USD	Point-in-time
Cash	`Cash`	$21.39M	USD	Point-in-time
Cash	`Cash`	$47.70M	USD	Point-in-time
Accounts receivable, net of allowance of $2,914 and $2,678, respectively	`AccountsReceivableNetCurrent`	$56.99M	USD	Point-in-time
Accounts receivable, net of allowance of $2,914 and $2,678, respectively	`AccountsReceivableNetCurrent`	$63.62M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.12M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$120.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$110.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$96.29M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$93.51M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$501.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$501.30M	USD	Point-in-time
Goodwill	`Goodwill`	$217.15M	USD	Point-in-time
Goodwill	`Goodwill`	$217.46M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$11.35M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$12.36M	USD	Point-in-time
Investments	`EquityMethodInvestments`	$234.00K	USD	Point-in-time
Investments	`EquityMethodInvestments`	$484.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$265.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$330.00K	USD	Point-in-time
Total assets	`Assets`	$939.20M	USD	Point-in-time
Total assets	`Assets`	$944.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.64M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.19M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.19M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.30M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$9.40M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesandOtherCurrentLiabilities`	$22.82M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesandOtherCurrentLiabilities`	$18.11M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$9.41M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$9.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.45M	USD	Point-in-time
Long-term debt, less current portion, (inclusive of bond premium of $8,898 and $8,050, respectively)	`LongTermDebtAndCapitalLeaseObligations`	$651.29M	USD	Point-in-time
Long-term debt, less current portion, (inclusive of bond premium of $8,898 and $8,050, respectively)	`LongTermDebtAndCapitalLeaseObligations`	$651.14M	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$933.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$933.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$704.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$698.53M	USD	Point-in-time
Controlling interest	`StockholdersEquity`	$234.04M	USD	Point-in-time
Controlling interest	`StockholdersEquity`	$245.42M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$492.00K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$866.00K	USD	Point-in-time
Total liabilities and members equity	`LiabilitiesAndStockholdersEquity`	$939.20M	USD	Point-in-time
Total liabilities and members equity	`LiabilitiesAndStockholdersEquity`	$944.81M	USD	Point-in-time

Income Statement 78 line items

Line Item	Tag	Value	Unit	Period
Allocated Share-based Compensation Expense	`AllocatedShareBasedCompensationExpense`	$159.00K	USD	2 Qtrs
Allocated Share-based Compensation Expense	`AllocatedShareBasedCompensationExpense`	$200.00K	USD	Point-in-time
Net revenue	`SalesRevenueNet`	$125.95M	USD	2 Qtrs
Net revenue	`SalesRevenueNet`	$106.27M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$72.48M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$185.43M	USD	2 Qtrs
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingExpenseExcludingDepreciationandAmortization`	$129.22M	USD	2 Qtrs
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingExpenseExcludingDepreciationandAmortization`	$90.11M	USD	2 Qtrs
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingExpenseExcludingDepreciationandAmortization`	$49.63M	USD	1 Quarter
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingExpenseExcludingDepreciationandAmortization`	$71.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$3.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$8.72M	USD	2 Qtrs
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$7.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$4.33M	USD	1 Quarter
Corporate expenses (including stock-based compensation expense of $159 for the six months ended June 30, 2014)	`GeneralAndAdministrativeExpense`	$6.16M	USD	1 Quarter
Corporate expenses (including stock-based compensation expense of $159 for the six months ended June 30, 2014)	`GeneralAndAdministrativeExpense`	$8.60M	USD	2 Qtrs
Corporate expenses (including stock-based compensation expense of $159 for the six months ended June 30, 2014)	`GeneralAndAdministrativeExpense`	$11.59M	USD	2 Qtrs
Corporate expenses (including stock-based compensation expense of $159 for the six months ended June 30, 2014)	`GeneralAndAdministrativeExpense`	$4.81M	USD	1 Quarter
Transaction and other restructuring costs	`BusinessCombinationAcquisitionRelatedCosts`	$18.00K	USD	2 Qtrs
Transaction and other restructuring costs	`BusinessCombinationAcquisitionRelatedCosts`	$77.00K	USD	1 Quarter
Transaction and other restructuring costs	`BusinessCombinationAcquisitionRelatedCosts`	$-10.00K	USD	1 Quarter
Transaction and other restructuring costs	`BusinessCombinationAcquisitionRelatedCosts`	$78.00K	USD	2 Qtrs
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$7.00K	USD	1 Quarter
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$52.00K	USD	2 Qtrs
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$26.00K	USD	1 Quarter
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$136.00K	USD	2 Qtrs
Total operating costs and expenses	`CostsAndExpenses`	$149.41M	USD	2 Qtrs
Total operating costs and expenses	`CostsAndExpenses`	$57.93M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$106.18M	USD	2 Qtrs
Total operating costs and expenses	`CostsAndExpenses`	$81.93M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$14.55M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.77M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$36.02M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$24.34M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$24.20M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$12.12M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.47M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$14.88M	USD	2 Qtrs
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	2 Qtrs
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.00K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingExpense`	-	USD	1 Quarter
Other expense, net	`OtherNonoperatingExpense`	$37.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingExpense`	$37.00K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingExpense`	$49.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.78M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.84M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.04M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$182.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$91.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$170.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$85.00K	USD	1 Quarter
Net income	`ProfitLoss`	$11.59M	USD	2 Qtrs
Net income	`ProfitLoss`	$4.67M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.95M	USD	1 Quarter
Net income	`ProfitLoss`	$12.12M	USD	1 Quarter
Historical income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.78M	USD	2 Qtrs
Historical income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.84M	USD	2 Qtrs
Historical income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.21M	USD	1 Quarter
Historical income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.04M	USD	1 Quarter
Pro forma income taxes	`IncomeTaxExpenseBenefit`	$182.00K	USD	2 Qtrs
Pro forma income taxes	`IncomeTaxExpenseBenefit`	$91.00K	USD	1 Quarter
Pro forma income taxes	`IncomeTaxExpenseBenefit`	$170.00K	USD	2 Qtrs
Pro forma income taxes	`IncomeTaxExpenseBenefit`	$85.00K	USD	1 Quarter
Pro forma net income	`ProfitLoss`	$11.59M	USD	2 Qtrs
Pro forma net income	`ProfitLoss`	$4.67M	USD	2 Qtrs
Pro forma net income	`ProfitLoss`	$6.95M	USD	1 Quarter
Pro forma net income	`ProfitLoss`	$12.12M	USD	1 Quarter
Diluted Earnings Per Share Pro Forma	`DilutedEarningsPerShareProForma`	$0.41	USD	2 Qtrs
Diluted Earnings Per Share Pro Forma	`DilutedEarningsPerShareProForma`	$0.43	USD	1 Quarter
Weighted Average Shares Outstanding, Basic	`WeightedAverageBasicSharesOutstandingProForma`	7.89M	shares	2 Qtrs
Weighted Average Shares Outstanding, Basic	`WeightedAverageBasicSharesOutstandingProForma`	7.90M	shares	1 Quarter
Weighted Average Shares Outstanding, Diluted	`ProFormaWeightedAverageSharesOutstandingDiluted`	17.40M	shares	2 Qtrs
Weighted Average Shares Outstanding, Diluted	`ProFormaWeightedAverageSharesOutstandingDiluted`	17.41M	shares	1 Quarter
Basic Earnings Per Share Pro Forma	`BasicEarningsPerShareProForma`	$0.95	USD	1 Quarter
Basic Earnings Per Share Pro Forma	`BasicEarningsPerShareProForma`	$0.91	USD	2 Qtrs

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$11.59M	USD	2 Qtrs
Net income	`ProfitLoss`	$4.67M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.95M	USD	1 Quarter
Net income	`ProfitLoss`	$12.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$3.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$8.72M	USD	2 Qtrs
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$7.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationandAmortizationLessAmortizationofDeferredFinancingCosts`	$4.33M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.02M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.26M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$964.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$744.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$159.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	2 Qtrs
Non-cash interest expense	`PaidInKindInterest`	$691.00K	USD	2 Qtrs
Non-cash interest expense	`PaidInKindInterest`	-	USD	2 Qtrs
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	2 Qtrs
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Net loss on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.00K	USD	2 Qtrs
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$7.00K	USD	1 Quarter
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$52.00K	USD	2 Qtrs
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$26.00K	USD	1 Quarter
Net gain on sale of assets	`GainLossOnDispositionOfAssets1`	$136.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.95M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.71M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$583.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.03M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-268.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$886.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$412.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.45M	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-84.00K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$21.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-978.00K	USD	2 Qtrs
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$8.62M	USD	2 Qtrs
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$4.72M	USD	2 Qtrs
Payments for acquistions, net of cash received	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$849.00K	USD	2 Qtrs
Payments for acquistions, net of cash received	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.03M	USD	2 Qtrs
Acquisition of intangibles	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Acquisition of intangibles	`PaymentsToAcquireIntangibleAssets`	$200.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.99M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.63M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	$199.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	$115.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.48M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.91M	USD	2 Qtrs
Repayment of bank debt	`RepaymentsOfBankDebt`	$765.00K	USD	2 Qtrs
Repayment of bank debt	`RepaymentsOfBankDebt`	$510.00K	USD	2 Qtrs
Debt financing costs paid	`PaymentsOfFinancingCosts`	$259.00K	USD	2 Qtrs
Debt financing costs paid	`PaymentsOfFinancingCosts`	$144.00K	USD	2 Qtrs
Repayments of capitalized obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$71.00K	USD	2 Qtrs
Repayments of capitalized obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$74.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.10M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-725.00K	USD	2 Qtrs
Cash, Period Increase (Decrease)	`CashPeriodIncreaseDecrease`	$2.05M	USD	2 Qtrs
Cash, Period Increase (Decrease)	`CashPeriodIncreaseDecrease`	$-918.00K	USD	2 Qtrs
Cash, Beginning of period	`Cash`	$22.30M	USD	Point-in-time
Cash, Beginning of period	`Cash`	$45.65M	USD	Point-in-time
Cash, Beginning of period	`Cash`	$21.39M	USD	Point-in-time
Cash, Beginning of period	`Cash`	$47.70M	USD	Point-in-time
Cash, End of period	`Cash`	$22.30M	USD	Point-in-time
Cash, End of period	`Cash`	$45.65M	USD	Point-in-time
Cash, End of period	`Cash`	$21.39M	USD	Point-in-time
Cash, End of period	`Cash`	$47.70M	USD	Point-in-time
Interest	`InterestPaid`	$22.33M	USD	2 Qtrs
Interest	`InterestPaid`	$13.82M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$364.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$423.00K	USD	2 Qtrs
Barter revenue included in net revenue	`NoncashTransactionBarterRevenue`	$6.04M	USD	2 Qtrs
Barter revenue included in net revenue	`NoncashTransactionBarterRevenue`	$3.99M	USD	2 Qtrs
Barter expense included in direct operating expenses	`NoncashTransactionBarterExpense`	$5.29M	USD	2 Qtrs
Barter expense included in direct operating expenses	`NoncashTransactionBarterExpense`	$3.62M	USD	2 Qtrs

Stockholders Equity 4 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$11.59M	USD	2 Qtrs
Net income	`ProfitLoss`	$4.67M	USD	2 Qtrs
Net income	`ProfitLoss`	$6.95M	USD	1 Quarter
Net income	`ProfitLoss`	$12.12M	USD	1 Quarter

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