$GTN
GRAY TELEVISION INC Stock $gtn

$gtn Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000143774922011269 Filed on May 06, 2022

Income Statement

Concept	2022 Q1	2021 Q1
Revenue	$827.0M	$544.0M
YoY Change	52.02%	1.87%
Cost Of Revenue	$554.0M	$378.0M
YoY Change	46.56%	6.78%
Gross Profit	$273.0M	$166.0M
YoY Change	64.46%	-7.78%
Gross Profit Margin	33.01%	30.51%
Selling, General & Admin	$27.00M	$18.00M
YoY Change	50.0%	20.0%
% of Gross Profit	9.89%	10.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$32.00M	$25.00M
YoY Change	28.0%	19.05%
% of Gross Profit	11.72%	15.06%
Operating Expenses	$663.0M	$443.0M
YoY Change	49.66%	8.05%
Operating Profit	$164.0M	$101.0M
YoY Change	62.38%	-18.55%
Interest Expense	-$79.00M	-$48.00M
YoY Change	64.58%	-7.69%
% of Operating Profit	-48.17%	-47.52%
Other Income/Expense, Net	-$2.000M	$1.000M
YoY Change	-300.0%	-200.0%
Pretax Income	$83.00M	$54.00M
YoY Change	53.7%	-23.94%
Income Tax	$21.00M	$15.00M
% Of Pretax Income	25.3%	27.78%
Net Earnings	$62.00M	$39.00M
YoY Change	58.97%	-26.42%
Net Earnings / Revenue	7.5%	7.17%
Basic Earnings Per Share	$0.53	$0.28
Diluted Earnings Per Share	$0.52	$0.27
COMMON SHARES
Basic Shares Outstanding	93.00M	94.00M
Diluted Shares Outstanding	94.00M	95.00M

Balance Sheet

Concept	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$247.0M	$819.0M
YoY Change	-69.84%	176.69%
Cash & Equivalents	$247.0M	$819.0M
Short-Term Investments
Other Short-Term Assets	$106.0M	$45.00M
YoY Change	135.56%	12.5%
Inventory
Prepaid Expenses
Receivables	$644.0M	$413.0M
Other Receivables	$21.00M	$21.00M
Total Short-Term Assets	$1.018B	$1.298B
YoY Change	-21.57%	80.03%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.181B	$730.0M
YoY Change	61.78%	-0.27%
Goodwill	$2.649B	$1.466B
YoY Change	80.7%	1.38%
Intangibles
YoY Change
Long-Term Investments	$117.0M	$95.00M
YoY Change	23.16%	106.52%
Other Assets	$15.00M	$55.00M
YoY Change	-72.73%	243.75%
Total Long-Term Assets	$10.12B	$6.362B
YoY Change	59.01%	0.87%
TOTAL ASSETS
Total Short-Term Assets	$1.018B	$1.298B
Total Long-Term Assets	$10.12B	$6.362B
Total Assets	$11.13B	$7.660B
YoY Change	45.35%	8.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$23.00M	$19.00M
YoY Change	21.05%	-17.39%
Accrued Expenses	$39.00M	$19.00M
YoY Change	105.26%	-20.83%
Deferred Revenue	$20.00M	$10.00M
YoY Change	100.0%	0.0%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$15.00M
YoY Change
Total Short-Term Liabilities	$363.0M	$249.0M
YoY Change	45.78%	2.47%
LONG-TERM LIABILITIES
Long-Term Debt	$6.740B	$3.976B
YoY Change	69.52%	7.46%
Other Long-Term Liabilities	$15.00M	$19.00M
YoY Change	-21.05%	46.15%
Total Long-Term Liabilities	$6.755B	$3.995B
YoY Change	69.09%	7.59%
TOTAL LIABILITIES
Total Short-Term Liabilities	$363.0M	$249.0M
Total Long-Term Liabilities	$6.755B	$3.995B
Total Liabilities	$8.680B	$5.236B
YoY Change	65.78%	7.38%
SHAREHOLDERS EQUITY
Retained Earnings	$910.0M	$880.0M
YoY Change	3.41%	61.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)		$193.0M
YoY Change		64.96%
Treasury Stock Shares		$15.22M
Shareholders Equity	$1.804B	$1.774B
YoY Change
Total Liabilities & Shareholders Equity	$11.13B	$7.660B
YoY Change	45.35%	8.99%

Cashflow Statement

Concept	2022 Q1	2021 Q1
OPERATING ACTIVITIES
Net Income	$62.00M	$39.00M
YoY Change	58.97%	-26.42%
Depreciation, Depletion And Amortization	$32.00M	$25.00M
YoY Change	28.0%	19.05%
Cash From Operating Activities	$141.0M	$147.0M
YoY Change	-4.08%	12.21%
INVESTING ACTIVITIES
Capital Expenditures	$47.00M	$13.00M
YoY Change	261.54%	-51.85%
Acquisitions	$7.000M	$40.00M
YoY Change	-82.5%	3900.0%
Other Investing Activities	-$6.000M	$0.00
YoY Change		-100.0%
Cash From Investing Activities	-$53.00M	-$73.00M
YoY Change	-27.4%	204.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$0.00
YoY Change		-100.0%
Debt Paid & Issued, Net	$4.000M	$0.00
YoY Change
Cash From Financing Activities	-$30.00M	-$28.00M
YoY Change	7.14%	21.74%
NET CHANGE
Cash From Operating Activities	$141.0M	$147.0M
Cash From Investing Activities	-$53.00M	-$73.00M
Cash From Financing Activities	-$30.00M	-$28.00M
Net Change In Cash	$58.00M	$46.00M
YoY Change	26.09%	-45.24%
FREE CASH FLOW
Cash From Operating Activities	$141.0M	$147.0M
Capital Expenditures	$47.00M	$13.00M
Free Cash Flow	$94.00M	$134.0M
YoY Change	-29.85%	28.85%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2022Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2021Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2022Q1	us-gaap	Temporary Equity Par Or Stated Value Per Share TemporaryEquityParOrStatedValuePerShare	0
CY2021Q4	us-gaap	Temporary Equity Par Or Stated Value Per Share TemporaryEquityParOrStatedValuePerShare	0
CY2022Q1	us-gaap	Temporary Equity Shares Authorized TemporaryEquitySharesAuthorized	1500000
CY2021Q4	us-gaap	Temporary Equity Shares Authorized TemporaryEquitySharesAuthorized	1500000
CY2022Q1	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	650000
CY2022Q1	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	650000
CY2021Q4	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	650000
CY2021Q4	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	650000
CY2022Q1	us-gaap	Temporary Equity Liquidation Preference TemporaryEquityLiquidationPreference	650000000	USD
CY2021Q4	us-gaap	Temporary Equity Liquidation Preference TemporaryEquityLiquidationPreference	650000000	USD
CY2022Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	pure
CY2021Q4	us-gaap	Long Term Debt LongTermDebt	6800000000	USD
CY2022Q1	gtn	Common Stock Voting Rights Votes Per Share CommonStockVotingRightsVotesPerShare	1	pure
CY2021Q4	us-gaap	Program Rights Obligations Noncurrent ProgramRightsObligationsNoncurrent	5000000	USD
CY2022Q1	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	1471000000	USD
CY2021Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	1471000000	USD
CY2021Q4	us-gaap	Prepaid Taxes PrepaidTaxes	40000000	USD
CY2022Q1	us-gaap	Defined Benefit Pension Plan Liabilities Noncurrent DefinedBenefitPensionPlanLiabilitiesNoncurrent	23000000	USD
CY2022Q1	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	21000000	USD
CY2021Q4	us-gaap	Defined Benefit Pension Plan Liabilities Noncurrent DefinedBenefitPensionPlanLiabilitiesNoncurrent	24000000	USD
CY2022Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	64000000	USD
CY2021Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	63000000	USD
CY2022Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	15000000	USD
CY2021Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	14000000	USD
CY2022Q1	us-gaap	Liabilities Liabilities	8680000000	USD
CY2021Q4	us-gaap	Liabilities Liabilities	8701000000	USD
CY2022Q1	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	650000000	USD
CY2021Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	21000000	USD
CY2022Q1	us-gaap	Prepaid Taxes PrepaidTaxes	22000000	USD
CY2022Q1	us-gaap	Liabilities Current LiabilitiesCurrent	363000000	USD
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	384000000	USD
CY2022Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6740000000	USD
CY2021Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6740000000	USD
CY2022Q1	us-gaap	Program Rights Obligations Noncurrent ProgramRightsObligationsNoncurrent	4000000	USD
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	247000000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	189000000	USD
CY2022Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	644000000	USD
CY2021Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	624000000	USD
CY2022Q1	gtn	License Agreements Net Current LicenseAgreementsNetCurrent	24000000	USD
CY2021Q4	gtn	License Agreements Net Current LicenseAgreementsNetCurrent	35000000	USD
CY2022Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	60000000	USD
CY2021Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	54000000	USD
CY2022Q1	us-gaap	Assets Current AssetsCurrent	1018000000	USD
CY2021Q4	us-gaap	Assets Current AssetsCurrent	963000000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1181000000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1165000000	USD
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	72000000	USD
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CY2022Q1	us-gaap	Indefinite Lived License Agreements IndefiniteLivedLicenseAgreements	5309000000	USD
CY2021Q4	us-gaap	Indefinite Lived License Agreements IndefiniteLivedLicenseAgreements	5303000000	USD
CY2022Q1	us-gaap	Goodwill Goodwill	2649000000	USD
CY2021Q4	us-gaap	Goodwill Goodwill	2649000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	773000000	USD
CY2021Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	825000000	USD
CY2022Q1	us-gaap	Equity Securities Without Readily Determinable Fair Value Amount EquitySecuritiesWithoutReadilyDeterminableFairValueAmount	117000000	USD
CY2021Q4	us-gaap	Equity Securities Without Readily Determinable Fair Value Amount EquitySecuritiesWithoutReadilyDeterminableFairValueAmount	117000000	USD
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CY2022Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	82000000	USD
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CY2021Q4	us-gaap	Interest Payable Current InterestPayableCurrent	52000000	USD
CY2022Q1	gtn	Accrued Network Programming Fees AccruedNetworkProgrammingFees	41000000	USD
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CY2022Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	39000000	USD
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CY2022Q1	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	14000000	USD
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CY2022Q1	us-gaap	Program Rights Obligations Current ProgramRightsObligationsCurrent	25000000	USD
CY2021Q4	us-gaap	Program Rights Obligations Current ProgramRightsObligationsCurrent	37000000	USD
CY2022Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	20000000	USD
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CY2021Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	9000000	USD
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CY2021Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-27000000	USD
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CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	164000000	USD
CY2021Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	101000000	USD
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CY2022Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	79000000	USD
CY2021Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	48000000	USD
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CY2022Q1	us-gaap	Temporary Equity Dividends Adjustment TemporaryEquityDividendsAdjustment	13000000	USD
CY2021Q1	us-gaap	Temporary Equity Dividends Adjustment TemporaryEquityDividendsAdjustment	13000000	USD
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CY2021Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.08
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CY2021Q1	us-gaap	Depreciation Depreciation	25000000	USD
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CY2021Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	12000000	USD
CY2022Q1	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	4000000	USD
CY2021Q1	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	5000000	USD
CY2022Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	6000000	USD
CY2021Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-12000000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	141000000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	147000000	USD
CY2022Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	7000000	USD
CY2021Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	40000000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	47000000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13000000	USD
CY2022Q1	gtn	Proceeds From Fcc Repack ProceedsFromFCCRepack	5000000	USD
CY2021Q1	gtn	Proceeds From Fcc Repack ProceedsFromFCCRepack	4000000	USD
CY2022Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	4000000	USD
CY2021Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	24000000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-53000000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-73000000	USD
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	4000000	USD
CY2021Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	-0	USD
CY2022Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	8000000	USD
CY2021Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	8000000	USD
CY2022Q1	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	13000000	USD
CY2021Q1	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	13000000	USD
CY2022Q1	gtn	Increase Decrease In Deferred And Other Loan Costs IncreaseDecreaseInDeferredAndOtherLoanCosts	-0	USD
CY2021Q1	gtn	Increase Decrease In Deferred And Other Loan Costs IncreaseDecreaseInDeferredAndOtherLoanCosts	1000000	USD
CY2022Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	5000000	USD
CY2021Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	6000000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-30000000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-28000000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	58000000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	46000000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	189000000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	773000000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	247000000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	819000000	USD
CY2022Q1	gtn	Number Of Television Markets With Toprated Stations NumberOfTelevisionMarketsWithTopratedStations	80	pure
CY2022Q1	gtn	Number Of Television Markets With First Andor Second Rated Stations NumberOfTelevisionMarketsWithFirstAndorSecondRatedStations	100	pure
CY2022Q1	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 27pt;"><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. 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>
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	93000000
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	94000000
CY2022Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1000000
CY2021Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1000000
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	94000000
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	95000000
CY2022Q1	gtn	Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Before Tax PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityBeforeTax	36000000	USD
CY2021Q4	gtn	Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Before Tax PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityBeforeTax	36000000	USD
CY2022Q1	gtn	Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityTax	9000000	USD
CY2021Q4	gtn	Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax PensionAndOtherPostretirementBenefitPlansAccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityTax	9000000	USD
CY2022Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-27000000	USD
CY2021Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-27000000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1801000000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1754000000	USD
CY2022Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	620000000	USD
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	589000000	USD
CY2022Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1181000000	USD
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1165000000	USD
CY2022Q1	gtn	Proceeds From Fcc Repack ProceedsFromFCCRepack	5000000	USD
CY2021Q1	gtn	Proceeds From Fcc Repack ProceedsFromFCCRepack	4000000	USD
CY2022Q1	gtn	Net Book Value Of Assets Disposed NetBookValueOfAssetsDisposed	0	USD
CY2021Q1	gtn	Net Book Value Of Assets Disposed NetBookValueOfAssetsDisposed	1000000	USD
CY2022Q1	gtn	Gain Loss On Disposition Other Fixed Assets GainLossOnDispositionOtherFixedAssets	-0	USD
CY2021Q1	gtn	Gain Loss On Disposition Other Fixed Assets GainLossOnDispositionOtherFixedAssets	1000000	USD
CY2022Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	5000000	USD
CY2021Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	4000000	USD
CY2022Q1	gtn	Payments For Recurring Purchases For Operations PaymentsForRecurringPurchasesForOperations	17000000	USD
CY2021Q1	gtn	Payments For Recurring Purchases For Operations PaymentsForRecurringPurchasesForOperations	12000000	USD
CY2022Q1	gtn	Payments For Assembly Atlanta Development PaymentsForAssemblyAtlantaDevelopment	30000000	USD
CY2021Q1	gtn	Payments For Assembly Atlanta Development PaymentsForAssemblyAtlantaDevelopment	1000000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	47000000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13000000	USD
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	16000000	USD
CY2020Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	10000000	USD
CY2022Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	-1000000	USD
CY2021Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	0	USD
CY2022Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	15000000	USD
CY2021Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	10000000	USD
CY2022Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	13000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	610000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	15000000	USD
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	827000000	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	544000000	USD
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	827000000	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	544000000	USD
CY2022Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	6831000000	USD
CY2021Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	6835000000	USD
CY2022Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	15000000	USD
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	15000000	USD
CY2022Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6740000000	USD
CY2021Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6740000000	USD
CY2022Q1	us-gaap	Line Of Credit Facility Remaining Borrowing Capacity LineOfCreditFacilityRemainingBorrowingCapacity	496000000	USD
CY2021Q4	us-gaap	Line Of Credit Facility Remaining Borrowing Capacity LineOfCreditFacilityRemainingBorrowingCapacity	497000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	11000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	15000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	1905000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	765000000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	3510000000	USD
CY2022Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	6831000000	USD
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	44000000	USD
CY2021Q1	us-gaap	Interest Paid Net InterestPaidNet	32000000	USD
CY2022Q1	us-gaap	Long Term Debt LongTermDebt	6800000000	USD
CY2022Q1	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	6700000000	USD
CY2021Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	6900000000	USD
CY2022Q1	us-gaap	Capital Units Authorized CapitalUnitsAuthorized	245000000
CY2022Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000
CY2022Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000
CY2022Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.08
CY2022Q1	us-gaap	Dividends Common Stock DividendsCommonStock	8000000	USD
CY2022Q1	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	2071292
CY2021Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	2821480
CY2022Q1	gtn	Defined Contribution Plan Expected Contributions Remainder Of Fiscal Year DefinedContributionPlanExpectedContributionsRemainderOfFiscalYear	11000000	USD
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5000000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4000000	USD
CY2022Q1	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	1000000	USD
CY2021Q1	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	1000000	USD
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	4000000	USD
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	3000000	USD
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P10Y
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0667	pure
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	4000000	USD
CY2021Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	3000000	USD
CY2022Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	1000000	USD
CY2021Q1	us-gaap	Short Term Lease Cost ShortTermLeaseCost	1000000	USD
CY2022Q1	us-gaap	Lease Cost LeaseCost	5000000	USD
CY2021Q1	us-gaap	Lease Cost LeaseCost	4000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	11000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	12000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	12000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	11000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	9000000	USD
CY2022Q1	gtn	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	47000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	102000000	USD
CY2022Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	29000000	USD
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	73000000	USD
CY2022Q1	gtn	Intangible Assets Gross IntangibleAssetsGross	9266000000	USD
CY2022Q1	gtn	Accumulated Amortization Intangible Assets AccumulatedAmortizationIntangibleAssets	-535000000	USD
CY2022Q1	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	8731000000	USD
CY2021Q4	gtn	Intangible Assets Gross IntangibleAssetsGross	9260000000	USD
CY2021Q4	gtn	Accumulated Amortization Intangible Assets AccumulatedAmortizationIntangibleAssets	-483000000	USD
CY2021Q4	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	8777000000	USD
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	52000000	USD
CY2021Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	26000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	153000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	194000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	129000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	118000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	88000000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	46000000	USD
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	21000000	USD
CY2021Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	15000000	USD
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.25	pure
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.28	pure
CY2022Q1	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21	pure
CY2022Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.25	pure
CY2022Q1	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.04	pure
CY2021Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.28	pure
CY2021Q1	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.05	pure
CY2021Q1	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0.02	pure
CY2020	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	21000000	USD
CY2022Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	pure
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	827000000	USD
CY2022Q1	gtn	Operating Expenses Before Depreciation Amortization And Gain Loss On Disposal Of Assets Net OperatingExpensesBeforeDepreciationAmortizationAndGainLossOnDisposalOfAssetsNet	584000000	USD
CY2022Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	84000000	USD
CY2022Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	5000000	USD
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	663000000	USD
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	164000000	USD
CY2022Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	79000000	USD
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	47000000	USD
CY2022Q1	us-gaap	Goodwill Goodwill	2649000000	USD
CY2022Q1	us-gaap	Assets Assets	11134000000	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	544000000	USD
CY2021Q1	gtn	Operating Expenses Before Depreciation Amortization And Gain Loss On Disposal Of Assets Net OperatingExpensesBeforeDepreciationAmortizationAndGainLossOnDisposalOfAssetsNet	396000000	USD
CY2021Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	51000000	USD
CY2021Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	4000000	USD
CY2021Q1	us-gaap	Operating Expenses OperatingExpenses	443000000	USD
CY2021Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	101000000	USD
CY2021Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	48000000	USD
CY2021Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13000000	USD
CY2021Q4	us-gaap	Goodwill Goodwill	2649000000	USD
CY2021Q4	us-gaap	Assets Assets	11108000000	USD

Files In Submission

Name	View Source	Status
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0001437749-22-011269-index.html	Edgar Link	pending
0001437749-22-011269.txt	Edgar Link	pending
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ex_363229.htm	Edgar Link	pending
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GRAY TELEVISION INC Stock $gtn

2022 Q1 Form 10-Q Financial Statement

#000143774922011269 Filed on May 06, 2022

Income Statement

Balance Sheet

Cashflow Statement

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$GTN GRAY TELEVISION INC Stock $gtn

2022 Q1 Form 10-Q Financial Statement

#000143774922011269 Filed on May 06, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GTN
GRAY TELEVISION INC Stock $gtn