$GTN
GRAY TELEVISION INC

2021 Q2 Form 10-Q Financial Statement

#000143774921018737 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q2
Revenue $547.0M $544.0M $451.0M
YoY Change 21.29% 1.87% -11.22%
Cost Of Revenue $363.0M $378.0M $329.0M
YoY Change 10.33% 6.78% 2.17%
Gross Profit $184.0M $166.0M $122.0M
YoY Change 50.82% -7.78% -34.41%
Gross Profit Margin 33.64% 30.51% 27.05%
Selling, General & Admin $25.00M $18.00M $17.00M
YoY Change 47.06% 20.0% -15.0%
% of Gross Profit 13.59% 10.84% 13.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.00M $25.00M $21.00M
YoY Change 19.05% 19.05% 5.0%
% of Gross Profit 13.59% 15.06% 17.21%
Operating Expenses $439.0M $443.0M $386.0M
YoY Change 13.73% 8.05% -0.77%
Operating Profit $108.0M $101.0M $65.00M
YoY Change 66.15% -18.55% -45.38%
Interest Expense -$47.00M -$48.00M -$46.00M
YoY Change 2.17% -7.69% -20.69%
% of Operating Profit -43.52% -47.52% -70.77%
Other Income/Expense, Net -$7.000M $1.000M -$2.000M
YoY Change 250.0% -200.0% -300.0%
Pretax Income $54.00M $54.00M $17.00M
YoY Change 217.65% -23.94% -72.58%
Income Tax $15.00M $15.00M $6.000M
% Of Pretax Income 27.78% 27.78% 35.29%
Net Earnings $39.00M $39.00M $11.00M
YoY Change 254.55% -26.42% -75.0%
Net Earnings / Revenue 7.13% 7.17% 2.44%
Basic Earnings Per Share $0.27 $0.28 -$0.02
Diluted Earnings Per Share $0.27 $0.27 -$0.02
COMMON SHARES
Basic Shares Outstanding 95.00M 94.00M 97.00M
Diluted Shares Outstanding 95.00M 95.00M 97.00M

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $785.0M $819.0M $379.0M
YoY Change 107.12% 176.69% 51.0%
Cash & Equivalents $785.0M $819.0M $379.0M
Short-Term Investments
Other Short-Term Assets $43.00M $45.00M $26.00M
YoY Change 65.38% 12.5% -38.1%
Inventory
Prepaid Expenses
Receivables $408.0M $413.0M $354.0M
Other Receivables $21.00M $21.00M $0.00
Total Short-Term Assets $1.257B $1.298B $759.0M
YoY Change 65.61% 80.03% 11.13%
LONG-TERM ASSETS
Property, Plant & Equipment $809.0M $730.0M $732.0M
YoY Change 10.52% -0.27% 6.71%
Goodwill $1.466B $1.466B $1.446B
YoY Change 1.38% 1.38% 72.76%
Intangibles
YoY Change
Long-Term Investments $95.00M $95.00M $49.00M
YoY Change 93.88% 106.52% 188.24%
Other Assets $55.00M $55.00M $13.00M
YoY Change 323.08% 243.75% -69.05%
Total Long-Term Assets $6.413B $6.362B $6.281B
YoY Change 2.1% 0.87% -0.59%
TOTAL ASSETS
Total Short-Term Assets $1.257B $1.298B $759.0M
Total Long-Term Assets $6.413B $6.362B $6.281B
Total Assets $7.670B $7.660B $7.040B
YoY Change 8.95% 8.99% 0.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.00M $19.00M $86.00M
YoY Change -61.63% -17.39% 616.67%
Accrued Expenses $20.00M $19.00M $22.00M
YoY Change -9.09% -20.83% -18.52%
Deferred Revenue $8.000M $10.00M $10.00M
YoY Change -20.0% 0.0% 11.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $223.0M $249.0M $297.0M
YoY Change -24.92% 2.47% 27.47%
LONG-TERM LIABILITIES
Long-Term Debt $3.979B $3.976B $3.703B
YoY Change 7.45% 7.46% -4.59%
Other Long-Term Liabilities $20.00M $19.00M $11.00M
YoY Change 81.82% 46.15% -15.38%
Total Long-Term Liabilities $3.999B $3.995B $3.714B
YoY Change 7.67% 7.59% -4.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $223.0M $249.0M $297.0M
Total Long-Term Liabilities $3.999B $3.995B $3.714B
Total Liabilities $5.223B $5.236B $4.932B
YoY Change 5.9% 7.38% -1.12%
SHAREHOLDERS EQUITY
Retained Earnings $899.0M $880.0M $542.0M
YoY Change 65.87% 61.76% 43.77%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $193.0M $193.0M $162.0M
YoY Change 19.14% 64.96% 116.0%
Treasury Stock Shares $15.24M $15.22M $13.33M
Shareholders Equity $1.797B $1.774B $1.458B
YoY Change
Total Liabilities & Shareholders Equity $7.670B $7.660B $7.040B
YoY Change 8.95% 8.99% 0.56%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q2
OPERATING ACTIVITIES
Net Income $39.00M $39.00M $11.00M
YoY Change 254.55% -26.42% -75.0%
Depreciation, Depletion And Amortization $25.00M $25.00M $21.00M
YoY Change 19.05% 19.05% 5.0%
Cash From Operating Activities $91.00M $147.0M $176.0M
YoY Change -48.3% 12.21% 117.28%
INVESTING ACTIVITIES
Capital Expenditures $13.00M
YoY Change -51.85%
Acquisitions $40.00M
YoY Change 3900.0%
Other Investing Activities $4.000M $0.00 -$11.00M
YoY Change -136.36% -100.0% 0.0%
Cash From Investing Activities -$104.0M -$73.00M -$35.00M
YoY Change 197.14% 204.17% -5.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -21.00M -$28.00M -58.00M
YoY Change -63.79% 21.74% 222.22%
NET CHANGE
Cash From Operating Activities 91.00M $147.0M 176.0M
Cash From Investing Activities -104.0M -$73.00M -35.00M
Cash From Financing Activities -21.00M -$28.00M -58.00M
Net Change In Cash -34.00M $46.00M 83.00M
YoY Change -140.96% -45.24% 219.23%
FREE CASH FLOW
Cash From Operating Activities $91.00M $147.0M $176.0M
Capital Expenditures $13.00M
Free Cash Flow $91.00M $134.0M $176.0M
YoY Change -48.3% 28.85% 117.28%

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CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1464000000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
53000000 USD
CY2020Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
13000000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
4000000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-2000000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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-0 USD
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6000000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4000000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1502000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
11000000 USD
CY2020Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
13000000 USD
CY2020Q2 gtn Stock Issued During Period Value Restricted Stock Award Vested
StockIssuedDuringPeriodValueRestrictedStockAwardVested
2000000 USD
CY2020Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
43000000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3000000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1458000000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1753000000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
39000000 USD
CY2021Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
13000000 USD
CY2021Q1 us-gaap Dividends Common Stock
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8000000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
7000000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3000000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1774000000 USD
CY2021Q2 us-gaap Net Income Loss
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39000000 USD
CY2021Q2 us-gaap Dividends Preferred Stock
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13000000 USD
CY2021Q2 us-gaap Dividends Common Stock
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7000000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
0 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4000000 USD
CY2021Q2 us-gaap Stockholders Equity
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1797000000 USD
us-gaap Net Income Loss
NetIncomeLoss
78000000 USD
us-gaap Net Income Loss
NetIncomeLoss
64000000 USD
us-gaap Depreciation
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50000000 USD
us-gaap Depreciation
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42000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6000000 USD
us-gaap Amortization Of Financing Costs
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6000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7000000 USD
us-gaap Share Based Compensation
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7000000 USD
gtn Amortization Of Program Broadcast Rights
AmortizationOfProgramBroadcastRights
17000000 USD
gtn Amortization Of Program Broadcast Rights
AmortizationOfProgramBroadcastRights
19000000 USD
gtn Payments On Program Broadcast Obligations
PaymentsOnProgramBroadcastObligations
18000000 USD
gtn Payments On Program Broadcast Obligations
PaymentsOnProgramBroadcastObligations
20000000 USD
gtn Common Stock Contributed To Defined Contribution Plan
CommonStockContributedToDefinedContributionPlan
1000000 USD
gtn Common Stock Contributed To Defined Contribution Plan
CommonStockContributedToDefinedContributionPlan
5000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
21000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
13000000 USD
us-gaap Gain Loss On Disposition Of Assets
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5000000 USD
us-gaap Gain Loss On Disposition Of Assets
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13000000 USD
us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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-17000000 USD
us-gaap Increase Decrease In Accounts Receivable
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-57000000 USD
us-gaap Increase Decrease In Prepaid Taxes
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9000000 USD
us-gaap Increase Decrease In Prepaid Taxes
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-0 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-51000000 USD
us-gaap Increase Decrease In Other Operating Assets
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-6000000 USD
us-gaap Increase Decrease In Accounts Payable
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23000000 USD
us-gaap Increase Decrease In Accounts Payable
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75000000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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13000000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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-12000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-34000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5000000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-2000000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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-20000000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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10000000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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-14000000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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1000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
238000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
307000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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41000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51000000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
3000000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
1000000 USD
gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
7000000 USD
gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
14000000 USD
us-gaap Payments To Acquire Investments
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25000000 USD
us-gaap Payments To Acquire Investments
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22000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-177000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
49000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
-0 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
26000000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
26000000 USD
gtn Increase Decrease In Deferred And Other Loan Costs
IncreaseDecreaseInDeferredAndOtherLoanCosts
1000000 USD
gtn Increase Decrease In Deferred And Other Loan Costs
IncreaseDecreaseInDeferredAndOtherLoanCosts
-0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-49000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-81000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
167000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
773000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
212000000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
785000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
379000000 USD
us-gaap Number Of Operating Segments
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2 pure
us-gaap Use Of Estimates
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:22pt;"><i>Use of Estimates. </i>The preparation of financial statements in conformity with U. S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The business and economic uncertainty resulting from the novel coronavirus and its related disease (collectively, “COVID-<em style="font: inherit;">19”</em>) has made such estimates and assumptions more difficult to calculate. Our actual results could differ materially from these estimated amounts. Our most significant estimates are our allowance for credit losses in receivables, valuation of goodwill and intangible assets, amortization of program rights and intangible assets, pension costs, income taxes, employee medical insurance claims, useful lives of property and equipment and contingencies.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95000000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98000000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95000000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98000000
CY2021Q2 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Before Tax
PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityBeforeTax
52000000 USD
CY2020Q4 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Before Tax
PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityBeforeTax
52000000 USD
CY2021Q2 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax
PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityTax
13000000 USD
CY2020Q4 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax
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13000000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-39000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-39000000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1000000 USD
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
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1371000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1262000000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
562000000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
525000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
809000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
737000000 USD
CY2021Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000000 USD
CY2020Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
-0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1000000 USD
CY2020Q2 gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
1000000 USD
gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
5000000 USD
gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
2000000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
1000000 USD
CY2020Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 USD
CY2021Q2 gtn Proceeds From Fcc Repack
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3000000 USD
CY2020Q2 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
8000000 USD
gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
7000000 USD
gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
14000000 USD
CY2021Q2 gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
4000000 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 USD
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1000000 USD
CY2020Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
7000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
13000000 USD
gtn Payments For Recurring Purchases For Operations
PaymentsForRecurringPurchasesForOperations
39000000 USD
gtn Payments For Recurring Purchases For Operations
PaymentsForRecurringPurchasesForOperations
37000000 USD
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
80000000 USD
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
0 USD
gtn Payments To Acquire Broadcasting Equipment
PaymentsToAcquireBroadcastingEquipment
2000000 USD
gtn Payments To Acquire Broadcasting Equipment
PaymentsToAcquireBroadcastingEquipment
14000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
547000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
451000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1091000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
547000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
451000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
985000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1091000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
985000000 USD
CY2021Q2 gtn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Right Of Use Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAsset
1000000 USD
CY2021Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
1000000 USD
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4035000000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4035000000 USD
CY2021Q2 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3000000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3000000 USD
CY2021Q2 us-gaap Long Term Debt
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3979000000 USD
CY2020Q4 us-gaap Long Term Debt
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3974000000 USD
CY2021Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
299000000 USD
CY2020Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
200000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
595000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1890000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1550000000 USD
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4035000000 USD
us-gaap Interest Paid Net
InterestPaidNet
89000000 USD
us-gaap Interest Paid Net
InterestPaidNet
95000000 USD
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
4000000000.0 USD
CY2021Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
4100000000 USD
CY2021Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
245000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3209452
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4006948
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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4000000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000 USD
CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1000000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2000000 USD
CY2021Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3000000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2000000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
6000000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5000000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0676 pure
CY2021Q2 us-gaap Operating Lease Cost
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3000000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
6000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
6000000 USD
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000000 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
3000000 USD
CY2020Q2 us-gaap Lease Cost
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3000000 USD
us-gaap Lease Cost
LeaseCost
7000000 USD
us-gaap Lease Cost
LeaseCost
7000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8000000 USD
CY2021Q2 gtn Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
42000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
81000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
23000000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
58000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1460000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53000000 USD
CY2021Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
5399000000 USD
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
1559000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6000000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
1466000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
395000000 USD
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
7000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
349000000 USD
CY2020Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
5434000000 USD
gtn Intangible Assets Acquired
IntangibleAssetsAcquired
18000000 USD
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
-0 USD
CY2021Q2 us-gaap Goodwill Gross
GoodwillGross
1565000000 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
99000000 USD
CY2021Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
99000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1460000000 USD
CY2021Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6000000 USD
CY2021Q1 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
-0 USD
CY2021Q1 us-gaap Goodwill
Goodwill
1466000000 USD
CY2021Q2 gtn Intangible Assets Gross
IntangibleAssetsGross
5822000000 USD
CY2021Q2 gtn Accumulated Amortization Intangible Assets
AccumulatedAmortizationIntangibleAssets
423000000 USD
CY2021Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
5399000000 USD
CY2020Q4 gtn Intangible Assets Gross
IntangibleAssetsGross
5804000000 USD
CY2020Q4 gtn Accumulated Amortization Intangible Assets
AccumulatedAmortizationIntangibleAssets
370000000 USD
CY2020Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
5434000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
51000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
100000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
94000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
28000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
19000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
18000000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15000000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24000000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.28 pure
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.28 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.27 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.28 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05 pure
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.02 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.27 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05 pure
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.01 pure
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
38000000 USD
CY2020 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
21000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1091000000 USD
gtn Operating Expenses Before Depreciation Amortization And Gain Loss On Disposal Of Assets Net
OperatingExpensesBeforeDepreciationAmortizationAndGainLossOnDisposalOfAssetsNet
784000000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5000000 USD
us-gaap Operating Expenses
OperatingExpenses
882000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
209000000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
95000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
1466000000 USD
CY2021Q2 us-gaap Assets
Assets
7670000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
985000000 USD
gtn Operating Expenses Before Depreciation Amortization And Gain Loss On Disposal Of Assets Net
OperatingExpensesBeforeDepreciationAmortizationAndGainLossOnDisposalOfAssetsNet
715000000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
94000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
13000000 USD
us-gaap Operating Expenses
OperatingExpenses
796000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
189000000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
98000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1460000000 USD
CY2020Q4 us-gaap Assets
Assets
7643000000 USD

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