Lee Enterprises, Incorporated (LEE) Financial Statements (2023 and earlier)

Company Profile

Business Address 4600 E. 53RD STREET
DAVENPORT, IA 52807
State of Incorp. DE
Fiscal Year End September 30
Industry (SIC) 2711 - Newspapers: Publishing, or Publishing and Printing (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

6/30/2023
MRQ
12/31/2022
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18,34616,18526,11233,7338,6455,380
Cash and cash equivalents18,34616,18526,11233,7338,6455,380
Receivables75,40569,52265,07052,59842,536 
Inventory, net of allowances, customer advances and progress billings8,9918,2656,2977,5343,7695,684
Inventory8,9918,2656,2977,5343,7695,684
Disposal group, including discontinued operation      250
Other current assets  15,15111,32014,8885,3534,567
Other undisclosed current assets18,352    43,461
Total current assets:121,094109,123108,799108,75360,30359,342
Noncurrent Assets
Operating lease, right-of-use asset47,09747,49065,68270,933 
Property, plant and equipment70,43673,71383,266105,60982,03992,328
Long-term investments and receivables33,82933,34932,74733,87939,42640,174
Long-term investments33,82933,34932,74733,87939,42640,174
Intangible assets, net (including goodwill)446,038450,877486,875511,125357,702365,995
Goodwill329,504329,504330,204328,445250,309246,176
Intangible assets, net (excluding goodwill)116,534121,373156,671182,680107,393119,819
Other noncurrent assets9,1199,89613,63213,6991,3941,415
Other undisclosed noncurrent assets20,08319,59452,55020,05914,33816,157
Total noncurrent assets:626,602634,919734,752755,304494,899516,069
TOTAL ASSETS:747,696744,042843,551864,057555,202575,411
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities79,32873,34865,49661,44136,36434,419
Interest and dividends payable  1,9032,031
Accounts payable39,38328,60820,42017,16316,75012,747
Accrued liabilities39,94544,74045,07644,27817,71119,641
Deferred revenue48,75049,92961,40460,27121,720
Debt  6,11213,7332,9547,027
Deferred revenue and credits23,895
Other undisclosed current liabilities7,8487,8598,6128,577  
Total current liabilities:135,926131,136141,624144,02261,03865,341
Noncurrent Liabilities
Long-term debt and lease obligation462,554462,554534,187586,931429,391460,777
Long-term debt, excluding current maturities462,554462,554476,504524,557429,391460,777
Liabilities, other than long-term debt130,798133,115111,042162,73771,79885,553
Accounts payable and accrued liabilities8,4468,2929,17418,0488,7426,559
Deferred tax liabilities, net39,108
Deferred income tax liabilities42,50342,71940,29515,208 
Liability, pension and other postretirement and postemployment benefits10,27510,18733,452115,19949,58729,325
Other liabilities25,51225,91428,12114,28213,46910,561
Operating lease, liability44,06246,00357,68362,374 
Other undisclosed noncurrent liabilities     29,806 
Total noncurrent liabilities:593,352595,669645,229749,668530,995546,330
Total liabilities:729,278726,805786,853893,690592,033611,671
Equity
Equity, attributable to parent, including:15,93015,00554,565(31,564)(38,484)(37,354)
Additional paid in capital259,487259,521258,063256,431255,476253,511
Accumulated other comprehensive income (loss)16,51316,65342,187(20,050)(29,114)(11,746)
Accumulated deficit(260,130)(261,229)(245,744)(268,529)(265,423)(279,691)
Other undisclosed equity, attributable to parent606059584577572
Equity, attributable to noncontrolling interest2,4882,2322,1331,9311,6531,094
Total equity:18,41817,23756,698(29,633)(36,831)(36,260)
TOTAL LIABILITIES AND EQUITY:747,696744,042843,551864,057555,202575,411

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

6/30/2023
TTM
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues763,818780,969794,649618,004509,854543,955
Revenue, net543,955
Gross profit:763,818780,969794,649618,004509,854543,955
Operating expenses(758,474)(761,775)(744,505)(571,129)(442,246)(464,681)
Other undisclosed operating income5,5715,6576,4123,4037,1219,249
Operating income:10,91524,85156,55650,27874,72988,523
Nonoperating expense(26,406)(24,056)(24,509)(47,435)(50,889)(57,703)
Net periodic defined benefits expense (reversal of expense), excluding service cost component  1,02723,830   
Other nonoperating income11,947 9,29612,2743,813450
Interest and debt expense(41,515)(41,770)(44,773)(47,743)(47,488)(52,842)
Loss from continuing operations before equity method investments, income taxes:(57,006)(40,975)(12,726)(44,900)(23,648)(22,022)
Loss from equity method investments(86)     
Other undisclosed income from continuing operations before income taxes41,60141,77044,77347,74347,488 
Income (loss) from continuing operations before income taxes:(15,491)79532,0472,84323,840(22,022)
Income tax expense (benefit)4,213(698)(7,215)(4,104)(7,931)16,228
Income (loss) from continuing operations:(11,278)9724,832(1,261)15,909(5,794)
Income (loss) before gain (loss) on sale of properties:(6,498)24,832(1,261)15,909(5,794)
Other undisclosed net income      52,842
Net income (loss):(11,278)9724,832(1,261)15,90947,048
Net loss attributable to noncontrolling interest(2,298)(2,114)(2,047)(1,845)(1,641)(1,282)
Net income (loss) available to common stockholders, diluted:(13,576)(2,017)22,785(3,106)14,26845,766

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):(11,278)9724,832(1,261)15,90947,048
Other comprehensive income (loss)(19,562)(25,534)62,2379,064(17,368)4,322
Comprehensive income (loss):(30,840)(25,437)87,0697,803(1,459)51,370
Comprehensive loss, net of tax, attributable to noncontrolling interest(2,298)(2,114)(2,047)(1,845)(1,641)(1,282)
Comprehensive income (loss), net of tax, attributable to parent:(33,138)(27,551)85,0225,958(3,100)50,088

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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