Meredith Corporation (MDP) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1716 LOCUST ST DES MOINES, IA 50309 |
| State of Incorp. | IA |
| Fiscal Year End | June 30 |
| Industry (SIC) | 2721 - Periodicals: Publishing, or Publishing and Printing (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2021 MRQ | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 240 | 132 | 45 | 438 | 22 | 25 | |||
| Cash and cash equivalents | 240 | 132 | 45 | 438 | 22 | 25 | |||
| Receivables | 501 | 462 | 609 | 542 | 289 | 274 | |||
| Inventory, net of allowances, customer advances and progress billings | 29 | 34 | 63 | 44 | 22 | 21 | |||
| Inventory | 29 | 34 | 63 | 44 | 22 | 21 | |||
| Capitalized contract cost | 226 | 213 | 242 | ✕ | ✕ | ✕ | |||
| Disposal group, including discontinued operation | 321 | 713 | |||||||
| Other current assets | 116 | 43 | 63 | 114 | 19 | 24 | |||
| Other undisclosed current assets | 7 | 128 | 153 | 138 | |||||
| Total current assets: | 1,112 | 885 | 1,350 | 1,979 | 505 | 481 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 371 | 405 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 884 | 883 | 450 | 484 | 190 | 191 | |||
| Intangible assets, net (including goodwill) | 3,276 | 3,367 | 3,793 | 3,921 | 1,863 | 1,797 | |||
| Goodwill | 1,719 | 1,719 | 1,979 | 1,916 | 907 | 883 | |||
| Intangible assets, net (excluding goodwill) | 1,557 | 1,648 | 1,814 | 2,005 | 956 | 914 | |||
| Capitalized contract cost, net | 180 | 222 | 274 | ✕ | ✕ | ✕ | |||
| Deferred costs | 8 | 6 | 6 | ||||||
| Other noncurrent assets | 266 | 232 | 264 | 263 | 70 | 59 | |||
| Other undisclosed noncurrent assets | (523) | (483) | 6 | 72 | 96 | 95 | |||
| Total noncurrent assets: | 4,454 | 4,625 | 4,787 | 4,748 | 2,224 | 2,147 | |||
| TOTAL ASSETS: | 5,566 | 5,510 | 6,137 | 6,727 | 2,730 | 2,628 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 423 | 289 | 543 | 605 | 184 | 199 | |||
| Accounts payable | 185 | 121 | 243 | 195 | 67 | 82 | |||
| Accrued liabilities | 238 | 168 | 301 | 410 | 117 | 117 | |||
| Deferred revenue | 396 | 403 | ✕ | ✕ | ✕ | ✕ | |||
| Debt | 4 | 5 | 18 | 63 | 75 | ||||
| Restructuring reserve | 4 | 10 | |||||||
| Disposal group, including discontinued operation | 252 | 198 | |||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 360 | 204 | 199 | ||
| Other undisclosed current liabilities | 32 | 24 | 466 | 9 | 9 | 5 | |||
| Total current liabilities: | 860 | 732 | 1,261 | 1,190 | 460 | 478 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,742 | 2,985 | 2,333 | 3,118 | 636 | 620 | |||
| Long-term debt, excluding current maturities | 2,742 | 2,982 | 2,333 | 3,118 | 636 | 620 | |||
| Finance lease, liability | 3 | ✕ | ✕ | ✕ | ✕ | ||||
| Liabilities, other than long-term debt | 880 | 942 | 532 | 357 | 616 | 636 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 124 | 107 | 129 | ||
| Deferred revenue | 219 | 268 | ✕ | ✕ | ✕ | ✕ | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | 319 | ✕ | ✕ | ✕ | ||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 385 | 336 | ||||
| Deferred income tax liabilities | 462 | 464 | ✕ | ✕ | ✕ | ✕ | |||
| Restructuring reserve | 0 | 18 | 16 | ||||||
| Other liabilities | 199 | 210 | 195 | 217 | 125 | 171 | |||
| Other undisclosed noncurrent liabilities | 432 | 463 | 497 | 442 | 22 | 6 | |||
| Total noncurrent liabilities: | 4,054 | 4,390 | 3,361 | 3,917 | 1,274 | 1,261 | |||
| Total liabilities: | 4,914 | 5,122 | 4,622 | 5,107 | 1,734 | 1,739 | |||
| Temporary equity, carrying amount | 540 | 523 | |||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 652 | 388 | 975 | 1,098 | 996 | 889 | |||
| Additional paid in capital | 179 | 228 | 217 | 200 | 55 | 54 | |||
| Accumulated other comprehensive income (loss) | (78) | (82) | (46) | 37 | (19) | (29) | |||
| Retained earnings | 506 | 198 | 759 | 890 | 916 | 819 | |||
| Other undisclosed equity, attributable to parent | 46 | 45 | 45 | (29) | 45 | 45 | |||
| Total equity: | 652 | 388 | 975 | 1,098 | 996 | 889 | |||
| TOTAL LIABILITIES AND EQUITY: | 5,566 | 5,510 | 6,137 | 6,727 | 2,730 | 2,628 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2021 TTM | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,977 | 2,849 | 3,189 | 2,247 | 1,713 | 1,650 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 2,247 | 1,713 | 1,650 | |
| Cost of revenue | (1,073) | (1,058) | (1,254) | (1,034) | (587) | (557) | ||
| Gross profit: | 1,904 | 1,790 | 1,935 | 1,214 | 1,126 | 1,092 | ||
| Operating expenses | (1,343) | (1,884) | (1,648) | (1,115) | (817) | (962) | ||
| Operating income (loss): | 561 | (94) | 287 | 99 | 309 | 131 | ||
| Nonoperating income (expense) | 11 | (1) | 24 | (12) | ||||
| Interest and debt expense | (12) | (0) | (18) | (93) | (19) | (20) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 560 | (96) | 293 | (6) | 290 | 111 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (167) | (146) | (152) | (4) | 0 | (1) | ||
| Income (loss) from continuing operations before income taxes: | 394 | (241) | 141 | (10) | 290 | 110 | ||
| Income tax expense (benefit) | (87) | 32 | (12) | 124 | (101) | (76) | ||
| Income (loss) from continuing operations: | 307 | (209) | 129 | 114 | 189 | 34 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 307 | (234) | 46 | 99 | 189 | 34 | |
| Loss from discontinued operations | (25) | (83) | (15) | |||||
| Net income (loss) attributable to parent: | 307 | (234) | 46 | 99 | 189 | 34 | ||
| Preferred stock dividends and other adjustments | (75) | (75) | (31) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | (15) | ✕ | ✕ | |||||
| Other undisclosed net loss available to common stockholders, basic | (166) | (4) | (2) | |||||
| Net income (loss) available to common stockholders, diluted: | 291 | (476) | (32) | 66 | 189 | 34 | ||
Comprehensive Income ($ in millions)
| 9/30/2021 TTM | 6/30/2021 | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 307 | (234) | 46 | 99 | 189 | 34 | ||
| Comprehensive income (loss): | 307 | (234) | 46 | 99 | 189 | 34 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 4 | (36) | (10) | (14) | 9 | (16) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 311 | (270) | 37 | 86 | 198 | 18 | ||
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.