Salem Media Group, Inc. (SALM) financial statements (2022 and earlier)

Company profile

Business Address 6400 NORTH BELT LINE ROAD
IRVING, TX 75063
State of Incorp. DE
Fiscal Year End December 31
SIC 4832 - Radio Broadcasting Stations (benchmarking)
More info Complete financial analysis Financial benchmarking

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

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 investments1,7856,3256117313098
Cash and cash equivalents1,7856,3256117313098
Receivables27,04025,59132,17633,82635,66338,01138,010
Inventory, net of allowances, customer advances and progress billings960495717677730670893
Inventory960495717677730670893
Prepaid expense6,7726,8475,8906,5046,8246,2876,285
Assets held-for-sale, not part of disposal group1,5513,346185 3,500  
Other undisclosed current assets3,4063,1922,7492,513 10,41111,513
Total current assets:41,51445,79641,72343,63746,72055,50956,799
Noncurrent Assets
Finance lease, right-of-use asset105152180
Operating lease, right-of-use asset43,56048,20354,550
Property, plant and equipment79,33979,12287,67396,50899,480102,790105,483
Long-term investments and receivables2747216672185365173
Accounts and financing receivable, after allowance for credit loss2747216672185365173
Intangible assets, net (including goodwill)346,438347,547369,216414,64639,52840,02136,044
Goodwill23,98623,75723,99826,78926,42425,61324,563
Intangible assets, net (excluding goodwill)322,452323,790345,218387,85713,10414,40811,481
Deferred costs      2,512
Other noncurrent assets4,0392,8174,1973,6383,1912,9522,500
Other undisclosed noncurrent assets843213224381383,847388,931393,864
Total noncurrent assets:474,598478,775516,707515,391526,099534,759540,576
TOTAL ASSETS:516,112524,571558,430559,028572,819590,268597,375
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities30,29525,03822,55121,51522,54129,05924,864
Accounts payable2,6612,0063,4682,1871,5844,9685,177
Accrued liabilities12,00611,0029,39510,10411,69715,65811,301
Employee-related liabilities13,05410,2427,8957,5827,6438,1338,297
Taxes payable1,54456353126717222373
Interest and dividends payable1,0301,2251,2621,3751,4457716
Deferred revenue12,29411,6529,493
Debt585,0608,55419,7189,109  
Deferred rent credit157147110108
Deferred revenue and credits10,4999,49113,128
Contract with customer, liability11,537
Other undisclosed current liabilities8,6518,96312,426  5905,662
Total current liabilities:51,45550,86053,13452,87842,14939,14043,654
Noncurrent Liabilities
Long-term debt and lease obligation, including:212,854261,611270,642234,135249,579261,084271,454
Long-term debt, excluding current maturities170,581213,764216,468    
Finance lease, liability65107124
Operating lease, liability42,20847,74054,050
Other undisclosed long-term debt and lease obligation   234,135249,579261,084271,454
Liabilities, other than long-term debt73,59276,8216,21350,14640,31666,08871,648
Deferred revenue and credits6,1015,25213,930
Deferred revenue2,2221,8691,744
Contract with customer, liability1,379
Deferred rent credit3,7723,8643,95613,431
Deferred tax liabilities, net35,27234,15160,76957,082
Deferred income tax liabilities67,01268,883 
Other liabilities5862,205513646467636
Other undisclosed noncurrent liabilities  38,778 9,49410,110798
Total noncurrent liabilities:286,446338,432315,633284,281299,389337,282343,900
Total liabilities:337,901389,292368,767337,159341,538376,422387,554
Stockholders' equity
Stockholders' equity attributable to parent, including:178,211135,279189,663221,869231,281213,846209,821
Treasury stock, value(34,006)(34,006)(34,006)(34,006)(34,006)(34,006)(34,006)
Additional paid in capital248,438247,025246,680245,220244,634243,607241,780
Retained earnings (accumulated deficit)(36,509)(78,023)23,29410,37220,3703,9631,768
Other undisclosed stockholders' equity attributable to parent288283(46,305)283283282279
Total stockholders' equity:178,211135,279189,663221,869231,281213,846209,821
TOTAL LIABILITIES AND EQUITY:516,112524,571558,430559,028572,819590,268597,375

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues258,247236,239253,898262,783263,736274,321265,787
Revenue, net263,736274,321265,787
Cost of revenue(1,895)(201,213)(211,631)(214,122)(213,745)(219,767)(213,956)
Cost of goods and services sold(1,895)(14,058)(15,934)(18,226)(16,962)(17,276)(17,741)
Gross profit:256,35235,02642,26748,66149,99154,55451,831
Operating expenses(211,999)(42,780)(50,468)(31,695)(27,017)(26,476)(18,809)
Other undisclosed operating income1,895      
Operating income (loss):46,248(7,754)(8,201)16,96622,97428,07833,022
Nonoperating income (expense)120(8)165(5)(76)1071,566
Investment income, nonoperating1012541011,365
Other nonoperating income (expense)110(9)163(10)(80)6201
Interest and debt expense(16,825)(16,026)(15,826)(17,680)(19,481)(15,025)(15,470)
Income (loss) from continuing operations before equity method investments, income taxes:29,543(23,788)(23,862)(719)3,41713,16019,118
Other undisclosed income (loss) from continuing operations before income taxes11,212   357285(1,273)
Income (loss) from continuing operations before income taxes:40,755(23,788)(23,862)(719)3,77413,44517,845
Income tax expense (benefit)759(30,274)(3,977)(2,473)20,870(4,572)(6,695)
Income (loss) from continuing operations:41,514(54,062)(27,839)(3,192)24,6448,87311,150
Loss from discontinued operations   (4,700)   
Income (loss) before gain (loss) on sale of properties:41,514(54,062)(27,839)(7,892)24,6448,87311,150
Other undisclosed net income   4,700   
Net income (loss) available to common stockholders, diluted:41,514(54,062)(27,839)(3,192)24,6448,87311,150

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):41,514(54,062)(27,839)(3,192)24,6448,87311,150
Comprehensive income (loss), net of tax, attributable to parent:41,514(54,062)(27,839)(3,192)24,6448,87311,150

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: