Gray Television, Inc. (GTN) Financial Statements (2024 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)

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 investments61,000189,000773,000212,000666,980462,399
Cash and cash equivalents61,000189,000773,000212,000666,980462,399
Receivables656,000629,000436,000400,000178,246166,624
Prepaid expense43,00040,000   13,791
Other undisclosed current assets97,000105,00095,00060,00027,51923,943
Total current assets:857,000963,0001,304,000672,000872,745666,757
Noncurrent Assets
Operating lease, right-of-use asset75,00070,00057,00050,000
Property, plant and equipment1,466,0001,165,000737,000725,000363,142350,658
Long-term investments and receivables      16,599
Long-term investments      16,599
Intangible assets, net (including goodwill)8,630,0008,777,0005,434,0005,479,0002,195,2132,215,587
Goodwill2,663,0002,649,0001,460,0001,446,000612,425611,100
Intangible assets, net (excluding goodwill)5,967,0006,128,0003,974,0004,033,0001,582,7881,604,487
Restricted cash and investments     751,963 
Deferred costs5,000     
Other noncurrent assets14,00016,00039,00029,00013,78311,256
Other undisclosed noncurrent assets105,000117,00072,00017,00016,599 
Total noncurrent assets:10,295,00010,145,0006,339,0006,300,0003,340,7002,594,100
TOTAL ASSETS:11,152,00011,108,0007,643,0006,972,0004,213,4453,260,857
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities105,000275,000162,000173,000109,17785,331
Interest and dividends payable65,00050,00050,00034,28926,624
Taxes payable10,00020,00013,00014,3308,753
Employee-related liabilities97,00053,00067,00034,77130,144
Accounts payable55,00059,00010,00011,0008,4037,840
Accrued liabilities50,00044,00029,00032,00017,38411,970
Deferred revenue24,00014,00022,0009,000
Debt15,00015,000 6,000 6,417
Program rights obligations29,00037,00025,00028,000  
Deferred revenue and credits4,004
Contract with customer, liability3,703
Other undisclosed current liabilities236,00043,00046,00030,00037,51635,553
Total current liabilities:409,000384,000255,000246,000150,396131,305
Noncurrent Liabilities
Long-term debt and lease obligation6,440,0006,803,0004,025,0003,742,0002,549,2241,831,011
Long-term debt, excluding current maturities6,440,0006,740,0003,974,0003,697,0002,549,2241,831,011
Liabilities, other than long-term debt1,537,0001,514,000960,000870,000326,636305,644
Deferred tax liabilities, net284,890261,690
Deferred income tax liabilities1,454,0001,471,000885,000810,000
Liability, pension and other postretirement and postemployment benefits  24,00043,00038,00033,23937,838
Other liabilities14,00014,00027,00015,0003,3251,839
Operating lease, liability68,00063,00051,00045,000
Program rights obligations1,0005,0005,0007,0005,1824,277
Total noncurrent liabilities:7,977,0008,317,0004,985,0004,612,0002,875,8602,136,655
Total liabilities:8,386,0008,701,0005,240,0004,858,0003,026,2562,267,960
Temporary equity, carrying amount650,000650,000650,000650,000  
Equity
Equity, attributable to parent, including:2,116,0001,757,0001,753,0001,464,0001,187,189992,897
Common stock     907,137902,518
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 earnings1,242,000869,000862,000504,000372,497161,694
Other undisclosed equity, attributable to parent886,0001,138,0001,118,0001,098,0001,202412
Total equity:2,116,0001,757,0001,753,0001,464,0001,187,189992,897
TOTAL LIABILITIES AND EQUITY:11,152,00011,108,0007,643,0006,972,0004,213,4453,260,857

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
Revenues3,676,0002,413,0002,381,0002,122,0001,084,132882,728
Revenue, net882,728
Gross profit:3,676,0002,413,0002,381,0002,122,0001,084,132882,728
Operating expenses(2,686,000)(2,032,000)(1,629,000)(1,644,000)(695,361)(591,502)
Operating income:990,000381,000752,000478,000388,771291,226
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(4,000)(8,000)(5,000)4,0005,507162
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:632,000168,000544,000255,000287,650193,278
Other undisclosed loss from continuing operations before income taxes(18,000)     
Income from continuing operations before income taxes:614,000168,000544,000255,000287,650193,278
Income tax expense (benefit)(159,000)(78,000)(134,000)(76,000)(76,847)68,674
Income from continuing operations:455,00090,000410,000179,000210,803261,952
Income before gain (loss) on sale of properties:90,000410,000179,000210,803261,952
Net income attributable to parent:455,00090,000410,000179,000210,803261,952
Preferred stock dividends and other adjustments(52,000)(52,000)(52,000)(52,000)  
Net income available to common stockholders, diluted:403,00038,000358,000127,000210,803261,952

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:455,00090,000410,000179,000210,803261,952
Other comprehensive income (loss) 15,00016,000(8,000)(5,000)1,056(7,410)
Other undisclosed comprehensive income      
Comprehensive income:470,000106,000402,000174,000211,859254,542
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:470,000102,000402,000169,000211,591257,432

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.

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