Gray Television, Inc. (GTN) financial statements (2022 and earlier)

Company profile

Business Address 4370 PEACHTREE ROAD NE
ATLANTA, GA 30319
State of Incorp. GA
Fiscal Year End December 31
SIC 4833 - Television Broadcasting Stations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18977321266746232597
Cash and cash equivalents18977321266746232597
Receivables629436400178167144120
Prepaid expense40   1415 
Deferred tax assets  3150
Other undisclosed current assets105956028242219
Total current assets:9631,304672873667536285
Noncurrent Assets
Operating lease, right-of-use asset705750
Property, plant and equipment1,165737725363351326234
Long-term investments and receivables    171714
Long-term investments    171714
Intangible assets, net (including goodwill), including:8,7775,4345,4792,1952,2161,8821,591
Goodwill2,6491,4601,446612611485423
Intangible assets, net (excluding goodwill)6,1283,9744,0331,5831,6041,8821,168
Other undisclosed intangible assets, net (including goodwill)     (485) 
Restricted cash and investments   752   
Deferred costs      15
Other noncurrent assets1639291411223
Other undisclosed noncurrent assets117721717   
Total noncurrent assets:10,1456,3396,3003,3412,5942,2471,858
TOTAL ASSETS:11,1087,6436,9724,2133,2612,7832,143
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities275162173109858661
Accounts payable5910118855
Accrued liabilities44293217121414
Employee-related liabilities97536735303129
Taxes payable10201314931
Interest and dividends payable65505034273213
Deferred revenue14229
Debt15 6 6  
Liability for uncertainty in income taxes      0
Program rights obligations372528    
Deferred revenue and credits454
Contract with customer, liability4
Other undisclosed current liabilities43463038362922
Total current liabilities:38425524615013111988
Noncurrent Liabilities
Long-term debt and lease obligation6,8034,0253,7422,5491,8311,7571,236
Long-term debt, excluding current maturities6,7403,9743,6972,5491,8311,7571,236
Operating lease, liability635145
Liabilities, other than long-term debt1,514960870327306414391
Deferred tax liabilities, net285262374352
Deferred income tax liabilities1,471885810
Liability, pension and other postretirement and postemployment benefits24433833383436
Other liabilities1427153211
Program rights obligations5575452
Total noncurrent liabilities:8,3174,9854,6122,8762,1372,1711,626
Total liabilities:8,7015,2404,8583,0262,2682,2901,714
Temporary equity, carrying amount650650650    
Stockholders' equity
Stockholders' equity attributable to parent, including:1,7571,7531,4641,187993493429
Common stock   907903658655
Treasury stock, value(223)(188)(107)(72)(50)(45)(42)
Accumulated other comprehensive loss(27)(39)(31)(21)(22)(18)(17)
Retained earnings (accumulated deficit)869862504372162(101)(164)
Other undisclosed stockholders' equity attributable to parent1,1381,1181,09810(2)(3)
Total stockholders' equity:1,7571,7531,4641,187993493429
TOTAL LIABILITIES AND EQUITY:11,1087,6436,9724,2133,2612,7832,143

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues2,4132,3812,1221,084883812597
Revenue, net883812597
Gross profit:2,4132,3812,1221,084883812597
Operating expenses(2,032)(1,629)(1,644)(695)(592)(578)(457)
Operating income:381752478389291234140
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(8)(5)46010
Interest and debt expense(205)(203)(227)(107)(98)(129)(74)
Income from continuing operations before income taxes:16854425528819310666
Income tax expense (benefit)(78)(134)(76)(77)69(43)(26)
Net income attributable to parent:904101792112626239
Preferred stock dividends and other adjustments(52)(52)(52)    
Net income available to common stockholders, diluted:383581272112626239

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:904101792112626239
Other comprehensive income (loss)16(8)(5)1(7)(1)6
Comprehensive income:1064021742122556245
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(4) (5)(0)30(2)
Comprehensive income, net of tax, attributable to parent:1024021692122576243

Statements sources

The financial statements are based on the company's filings with the 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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