Cumulus Media Inc. (CMLS) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
3280 PEACHTREE ROAD N.W. ATLANTA, GA 30305 |
| State of Incorp. | DE |
| 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 thousands)
| 9/30/2023 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 | 107,433 | 177,028 | 271,761 | 15,142 | 102,891 | ||||
| Cash and cash equivalents | 107,433 | 177,028 | 271,761 | 15,142 | 102,891 | ||||
| Restricted cash and investments | 8,999 | ||||||||
| Receivables | 210,254 | 196,934 | 201,275 | 242,599 | (5,483) | 235,247 | |||
| Disposal group, including discontinued operation | 87,000 | ||||||||
| Other undisclosed current assets | 27,584 | 32,554 | 29,928 | 35,940 | 46,483 | ||||
| Total current assets: | 345,271 | 406,516 | 502,964 | 380,681 | (5,483) | 393,620 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 135,236 | 142,937 | 157,568 | 143,436 | ✕ | ✕ | |||
| Property, plant and equipment | 190,107 | 191,520 | 208,692 | 232,934 | 191,604 | ||||
| Intangible assets, net (including goodwill), including: | 172,351 | 1,286,803 | |||||||
| Goodwill | 135,214 | ||||||||
| Intangible assets, net (excluding goodwill) | 172,351 | 1,369,797 | |||||||
| Other undisclosed intangible assets, net (including goodwill) | (218,208) | ||||||||
| Deferred income tax assets | 5,972 | 6,356 | 7,779 | ✕ | ✕ | ||||
| Other noncurrent assets | 9,150 | 7,758 | 12,758 | 9,408 | 20,078 | ||||
| Other undisclosed noncurrent assets | 923,295 | 962,295 | 969,977 | 994,873 | 135,214 | ||||
| Total noncurrent assets: | 1,263,760 | 1,310,866 | 1,356,774 | 1,380,651 | 172,351 | 1,633,699 | |||
| TOTAL ASSETS: | 1,609,031 | 1,717,382 | 1,859,738 | 1,761,332 | 166,868 | 2,027,319 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 114,826 | 109,669 | 94,128 | 97,527 | 36,157 | ||||
| Employee-related liabilities | ✕ | ✕ | 36,570 | ||||||
| Accounts payable | 8,151 | 4,891 | 5,250 | 861 | 1,928 | ||||
| Accrued liabilities | 77,876 | 39,801 | 44,770 | 39,243 | 19,496 | ||||
| Other undisclosed accounts payable and accrued liabilities | 28,799 | 28,407 | 44,108 | 57,423 | 14,733 | ||||
| Debt | 791 | 252 | 5,500 | 34,696 | |||||
| Other undisclosed current liabilities | 29,991 | 29,893 | 29,408 | 7,339 | |||||
| Total current liabilities: | 145,608 | 139,814 | 129,036 | 139,562 | 36,157 | ||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 716,175 | 924,797 | 1,097,190 | 1,006,493 | |||||
| Long-term debt, excluding current maturities | 714,456 | 798,924 | 967,661 | 1,006,493 | |||||
| Finance lease, liability | 1,719 | 235 | 256 | ✕ | ✕ | ||||
| Liabilities, other than long-term debt | 127,569 | 13,860 | 13,375 | 48,877 | 54 | ||||
| Deferred income tax liabilities | 653 | 21,038 | ✕ | ✕ | |||||
| Other liabilities | 6,991 | 13,860 | 13,375 | 27,839 | 54 | ||||
| Operating lease, liability | 119,925 | 125,638 | 129,273 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 211,274 | 219,414 | (887,763) | 111,184 | 2,687,223 | ||||
| Total noncurrent liabilities: | 1,055,018 | 1,158,071 | 222,802 | 1,166,554 | 2,687,277 | ||||
| Other undisclosed liabilities | 1,110,309 | ||||||||
| Total liabilities: | 1,200,626 | 1,297,885 | 1,462,147 | 1,306,116 | 2,723,434 | ||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 408,405 | 419,497 | 397,591 | 455,216 | (696,115) | ||||
| Treasury stock, value | (36,533) | (2,977) | (2,414) | (1,171) | (229,310) | ||||
| Additional paid in capital | 348,462 | 342,233 | 337,042 | 333,705 | 1,626,428 | ||||
| Retained earnings (accumulated deficit) | 96,476 | 80,241 | 62,963 | 122,682 | (2,093,554) | ||||
| Other undisclosed equity, attributable to parent | 321 | ||||||||
| Total equity: | 408,405 | 419,497 | 397,591 | 455,216 | (696,115) | ||||
| TOTAL LIABILITIES AND EQUITY: | 1,609,031 | 1,717,382 | 1,859,738 | 1,761,332 | 2,027,319 | ||||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 953,506 | 916,467 | 816,218 | 1,113,445 | 1,135,662 | |||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,135,662 | |
| Cost of revenue (Cost of Goods and Services Sold) | (3,500) | (10,884) | ||||||
| Gross profit: | 953,506 | 916,467 | 816,218 | 1,109,945 | 1,124,778 | |||
| Operating expenses | (873,717) | (847,351) | (826,820) | (947,238) | (1,346,108) | |||
| Other undisclosed operating income | 3,500 | 10,884 | ||||||
| Operating income (loss): | 79,789 | 69,116 | (10,602) | 166,207 | (210,446) | |||
| Nonoperating expense | (60,184) | (48,856) | (68,366) | (82,687) | (159,845) | |||
| Interest and debt expense | 4,496 | 20,000 | (68,099) | 381 | (1,063) | |||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 68,099 | (381) | 1,063 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 24,101 | 40,260 | (78,968) | 83,520 | (370,291) | |||
| Other undisclosed loss from continuing operations before income taxes | (4,496) | (20,000) | ||||||
| Income (loss) from continuing operations before income taxes: | 19,605 | 20,260 | (78,968) | 83,520 | (370,291) | |||
| Income tax expense (benefit) | (3,370) | (2,982) | 19,249 | (22,263) | 163,726 | |||
| Income (loss) from continuing operations: | 16,235 | 17,278 | (59,719) | 61,257 | (206,565) | |||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 17,278 | (59,719) | 61,257 | (206,565) | ||
| Net income (loss) attributable to parent: | 16,235 | 17,278 | (59,719) | 61,257 | (206,565) | |||
| Undistributed earnings (loss) allocated to participating securities, basic | (16,235) | (17,278) | ||||||
| Other undisclosed net income (loss) available to common stockholders, basic | 16,235 | 17,278 | ||||||
| Net income (loss) available to common stockholders, diluted: | 16,235 | 17,278 | (59,719) | 61,257 | (206,565) | |||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 16,235 | 17,278 | (59,719) | 61,257 | (206,565) | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 16,235 | 17,278 | (59,719) | 61,257 | (206,565) | |||
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.