Audacy (AUDAQ) Financial Statements (2024 and earlier)

Company Profile

Business Address 2400 MARKET STREET
PHILADELPHIA, PA 19103
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 4832 - Radio Broadcasting Stations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments70103593120123
Cash and cash equivalents70103593120123
Receivables258261276276379343
Prepaid expense717268482525
Other undisclosed current assets3    69
Total current assets:402437404355425560
Noncurrent Assets
Operating lease, right-of-use asset202211230237260
Property, plant and equipment285345376340351317
Long-term investments and receivables  333311
Long-term investments  333311
Intangible assets, net (including goodwill)641811519780589
Goodwill6464826244539
Intangible assets, net (excluding goodwill) 11769353650
Disposal group, including discontinued operation, noncurrent assets 251211020
Other noncurrent assets2313175414356
Other undisclosed noncurrent assets9241,9722,1832,1942,4722,467
Total noncurrent assets:1,4992,8483,0182,9343,2193,460
TOTAL ASSETS:1,9003,2853,4223,2893,6444,020
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities958688748260
Interest and dividends payable00  
Accounts payable2214191462
Accrued liabilities747268607658
Debt1,924 23552 
Restructuring reserve1332  
Other liabilities13181847477118
Other undisclosed current liabilities37383738  
Total current liabilities:2,188208234194211179
Noncurrent Liabilities
Long-term debt and lease obligation 1,8801,9991,9191,9501,872
Long-term debt, excluding current maturities 1,8801,7821,6901,6971,872
Liabilities, other than long-term debt327676536531601635
Deferred revenue     
Deferred tax liabilities, net546
Deferred income tax liabilities102453488473550
Other liabilities242649585289
Operating lease, liability202197217229253
Total noncurrent liabilities:3272,5562,5362,4502,5522,507
Total liabilities:2,5152,7642,7702,6442,7622,686
Equity
Equity, attributable to parent, including:(615)5216516438801,334
Common stock      1
Additional paid in capital1,6821,6771,6711,6621,6561,694
Accumulated other comprehensive income (loss)  3(0)(2)(0) 
Accumulated deficit(2,297)(1,161)(1,020)(1,017)(776)(361)
Other undisclosed equity, attributable to parent01    
Other undisclosed equity   111 
Total equity:(615)5216526458811,334
Other undisclosed liabilities and equity      
TOTAL LIABILITIES AND EQUITY:1,9003,2853,4223,2893,6444,020

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,1691,2541,2191,0611,4901,463
Cost of revenue
(Financial Services Costs)
      (3)
Gross profit:1,1691,2541,2191,0611,4901,459
Operating expenses(2,517)(1,327)(1,132)(1,300)(1,771)(1,728)
Other undisclosed operating income      3
Operating income (loss):(1,348)(74)87(239)(281)(266)
Nonoperating income (expense)001 (2) 
Other nonoperating income000   
Interest and debt expense(138)(107)(92)(87)(100)(101)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Loss from continuing operations before equity method investments, income taxes:(1,486)(181)(4)(326)(383)(367)
Other undisclosed loss from continuing operations before income taxes      
Loss from continuing operations before income taxes:(1,486)(181)(4)(326)(383)(367)
Income tax expense (benefit)34940084(37)4
Loss from continuing operations:(1,137)(141)(4)(242)(420)(363)
Loss before gain (loss) on sale of properties:(4)(242)(421)(361)
Income (loss) from discontinued operations     (1)1
Net loss:(1,137)(141)(4)(242)(421)(361)
Other undisclosed net income attributable to parent     1 
Net loss attributable to parent:(1,137)(141)(4)(242)(420)(361)
Other undisclosed net loss available to common stockholders, basic      (1)
Net loss available to common stockholders, diluted:(1,137)(141)(4)(242)(420)(363)

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(1,137)(141)(4)(242)(421)(361)
Comprehensive loss:(1,137)(141)(4)(242)(421)(361)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1)32(2)1 
Comprehensive loss, net of tax, attributable to parent:(1,138)(137)(2)(244)(420)(361)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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