Gray Television, Inc. (GTN) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
4370 PEACHTREE ROAD NE ATLANTA, GA 30319 |
| State of Incorp. | GA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4833 - Television Broadcasting Stations (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 61,000 | 189,000 | 773,000 | 212,000 | 666,980 | 462,399 | |||
| Cash and cash equivalents | 61,000 | 189,000 | 773,000 | 212,000 | 666,980 | 462,399 | |||
| Receivables | 656,000 | 629,000 | 436,000 | 400,000 | 178,246 | 166,624 | |||
| Prepaid expense | 43,000 | 40,000 | 13,791 | ||||||
| Other undisclosed current assets | 97,000 | 105,000 | 95,000 | 60,000 | 27,519 | 23,943 | |||
| Total current assets: | 857,000 | 963,000 | 1,304,000 | 672,000 | 872,745 | 666,757 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 75,000 | 70,000 | 57,000 | 50,000 | ✕ | ✕ | |||
| Property, plant and equipment | 1,466,000 | 1,165,000 | 737,000 | 725,000 | 363,142 | 350,658 | |||
| Long-term investments and receivables | 16,599 | ||||||||
| Long-term investments | 16,599 | ||||||||
| Intangible assets, net (including goodwill) | 8,630,000 | 8,777,000 | 5,434,000 | 5,479,000 | 2,195,213 | 2,215,587 | |||
| Goodwill | 2,663,000 | 2,649,000 | 1,460,000 | 1,446,000 | 612,425 | 611,100 | |||
| Intangible assets, net (excluding goodwill) | 5,967,000 | 6,128,000 | 3,974,000 | 4,033,000 | 1,582,788 | 1,604,487 | |||
| Restricted cash and investments | 751,963 | ||||||||
| Deferred costs | 5,000 | ||||||||
| Other noncurrent assets | 14,000 | 16,000 | 39,000 | 29,000 | 13,783 | 11,256 | |||
| Other undisclosed noncurrent assets | 105,000 | 117,000 | 72,000 | 17,000 | 16,599 | ||||
| Total noncurrent assets: | 10,295,000 | 10,145,000 | 6,339,000 | 6,300,000 | 3,340,700 | 2,594,100 | |||
| TOTAL ASSETS: | 11,152,000 | 11,108,000 | 7,643,000 | 6,972,000 | 4,213,445 | 3,260,857 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 105,000 | 275,000 | 162,000 | 173,000 | 109,177 | 85,331 | |||
| Interest and dividends payable | ✕ | ✕ | 65,000 | 50,000 | 50,000 | 34,289 | 26,624 | ||
| Taxes payable | ✕ | ✕ | 10,000 | 20,000 | 13,000 | 14,330 | 8,753 | ||
| Employee-related liabilities | ✕ | ✕ | 97,000 | 53,000 | 67,000 | 34,771 | 30,144 | ||
| Accounts payable | 55,000 | 59,000 | 10,000 | 11,000 | 8,403 | 7,840 | |||
| Accrued liabilities | 50,000 | 44,000 | 29,000 | 32,000 | 17,384 | 11,970 | |||
| Deferred revenue | 24,000 | 14,000 | 22,000 | 9,000 | ✕ | ✕ | |||
| Debt | 15,000 | 15,000 | 6,000 | 6,417 | |||||
| Program rights obligations | 29,000 | 37,000 | 25,000 | 28,000 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 4,004 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 3,703 | ✕ | ||
| Other undisclosed current liabilities | 236,000 | 43,000 | 46,000 | 30,000 | 37,516 | 35,553 | |||
| Total current liabilities: | 409,000 | 384,000 | 255,000 | 246,000 | 150,396 | 131,305 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 6,440,000 | 6,803,000 | 4,025,000 | 3,742,000 | 2,549,224 | 1,831,011 | |||
| Long-term debt, excluding current maturities | 6,440,000 | 6,740,000 | 3,974,000 | 3,697,000 | 2,549,224 | 1,831,011 | |||
| Liabilities, other than long-term debt | 1,537,000 | 1,514,000 | 960,000 | 870,000 | 326,636 | 305,644 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 284,890 | 261,690 | ||
| Deferred income tax liabilities | 1,454,000 | 1,471,000 | 885,000 | 810,000 | ✕ | ✕ | |||
| Liability, pension and other postretirement and postemployment benefits | 24,000 | 43,000 | 38,000 | 33,239 | 37,838 | ||||
| Other liabilities | 14,000 | 14,000 | 27,000 | 15,000 | 3,325 | 1,839 | |||
| Operating lease, liability | 68,000 | 63,000 | 51,000 | 45,000 | ✕ | ✕ | |||
| Program rights obligations | 1,000 | 5,000 | 5,000 | 7,000 | 5,182 | 4,277 | |||
| Total noncurrent liabilities: | 7,977,000 | 8,317,000 | 4,985,000 | 4,612,000 | 2,875,860 | 2,136,655 | |||
| Total liabilities: | 8,386,000 | 8,701,000 | 5,240,000 | 4,858,000 | 3,026,256 | 2,267,960 | |||
| Temporary equity, carrying amount | 650,000 | 650,000 | 650,000 | 650,000 | |||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 2,116,000 | 1,757,000 | 1,753,000 | 1,464,000 | 1,187,189 | 992,897 | |||
| Common stock | 907,137 | 902,518 | |||||||
| Treasury stock, value | (223,000) | (188,000) | (107,000) | (72,270) | (49,562) | ||||
| Accumulated other comprehensive loss | (12,000) | (27,000) | (39,000) | (31,000) | (21,377) | (22,165) | |||
| Retained earnings | 1,242,000 | 869,000 | 862,000 | 504,000 | 372,497 | 161,694 | |||
| Other undisclosed equity, attributable to parent | 886,000 | 1,138,000 | 1,118,000 | 1,098,000 | 1,202 | 412 | |||
| Total equity: | 2,116,000 | 1,757,000 | 1,753,000 | 1,464,000 | 1,187,189 | 992,897 | |||
| TOTAL LIABILITIES AND EQUITY: | 11,152,000 | 11,108,000 | 7,643,000 | 6,972,000 | 4,213,445 | 3,260,857 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 3,676,000 | 2,413,000 | 2,381,000 | 2,122,000 | 1,084,132 | 882,728 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 882,728 | |
| Gross profit: | 3,676,000 | 2,413,000 | 2,381,000 | 2,122,000 | 1,084,132 | 882,728 | ||
| Operating expenses | (2,686,000) | (2,032,000) | (1,629,000) | (1,644,000) | (695,361) | (591,502) | ||
| Operating income: | 990,000 | 381,000 | 752,000 | 478,000 | 388,771 | 291,226 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (4,000) | (8,000) | (5,000) | 4,000 | 5,507 | 162 | ||
| Interest and debt expense | (354,000) | (205,000) | (203,000) | (227,000) | (106,628) | (98,110) | ||
| Income from continuing operations before equity method investments, income taxes: | 632,000 | 168,000 | 544,000 | 255,000 | 287,650 | 193,278 | ||
| Other undisclosed loss from continuing operations before income taxes | (18,000) | |||||||
| Income from continuing operations before income taxes: | 614,000 | 168,000 | 544,000 | 255,000 | 287,650 | 193,278 | ||
| Income tax expense (benefit) | (159,000) | (78,000) | (134,000) | (76,000) | (76,847) | 68,674 | ||
| Income from continuing operations: | 455,000 | 90,000 | 410,000 | 179,000 | 210,803 | 261,952 | ||
| Income before gain (loss) on sale of properties: | ✕ | 90,000 | 410,000 | 179,000 | 210,803 | 261,952 | ||
| Net income attributable to parent: | 455,000 | 90,000 | 410,000 | 179,000 | 210,803 | 261,952 | ||
| Preferred stock dividends and other adjustments | (52,000) | (52,000) | (52,000) | (52,000) | ||||
| Net income available to common stockholders, diluted: | 403,000 | 38,000 | 358,000 | 127,000 | 210,803 | 261,952 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 455,000 | 90,000 | 410,000 | 179,000 | 210,803 | 261,952 | ||
| Other comprehensive income (loss) | 15,000 | 16,000 | (8,000) | (5,000) | 1,056 | (7,410) | ||
| Other undisclosed comprehensive income | ||||||||
| Comprehensive income: | 470,000 | 106,000 | 402,000 | 174,000 | 211,859 | 254,542 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (4,000) | (5,000) | (268) | 2,890 | ||||
| Comprehensive income, net of tax, attributable to parent: | 470,000 | 102,000 | 402,000 | 169,000 | 211,591 | 257,432 | ||
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.