$LAMR
LAMAR ADVERTISING CO/NEW

2016 Q3 Form 10-Q Financial Statement

#000156459017021772 Filed on November 06, 2017

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $387.5M
YoY Change 10.5%
Cost Of Revenue $131.8M
YoY Change 8.3%
Gross Profit $255.7M
YoY Change 11.66%
Gross Profit Margin 65.98%
Selling, General & Admin $86.80M
YoY Change 14.06%
% of Gross Profit 33.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.30M
YoY Change 6.25%
% of Gross Profit 19.28%
Operating Expenses $136.1M
YoY Change 11.01%
Operating Profit $119.6M
YoY Change 7.13%
Interest Expense $31.10M
YoY Change 25.87%
% of Operating Profit 26.01%
Other Income/Expense, Net -$31.10M
YoY Change 25.88%
Pretax Income $88.67M
YoY Change 2.0%
Income Tax $3.613M
% Of Pretax Income 4.07%
Net Earnings $85.06M
YoY Change -1.05%
Net Earnings / Revenue 21.95%
Basic Earnings Per Share $0.87
Diluted Earnings Per Share $0.87
COMMON SHARES
Basic Shares Outstanding 97.25M
Diluted Shares Outstanding 97.88M

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.50M
YoY Change 28.87%
Cash & Equivalents $37.48M
Short-Term Investments
Other Short-Term Assets $38.73M
YoY Change -0.91%
Inventory
Prepaid Expenses $70.19M
Receivables $207.5M
Other Receivables $0.00
Total Short-Term Assets $355.2M
YoY Change 10.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.180B
YoY Change 8.33%
Goodwill $1.727B
YoY Change 11.89%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.39M
YoY Change 6.58%
Total Long-Term Assets $3.547B
YoY Change 14.59%
TOTAL ASSETS
Total Short-Term Assets $355.2M
Total Long-Term Assets $3.547B
Total Assets $3.903B
YoY Change 14.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.64M
YoY Change 6.01%
Accrued Expenses $110.1M
YoY Change 13.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $28.82M
YoY Change 48.73%
Total Short-Term Liabilities $259.1M
YoY Change 11.56%
LONG-TERM LIABILITIES
Long-Term Debt $2.351B
YoY Change 20.63%
Other Long-Term Liabilities $23.91M
YoY Change 8.34%
Total Long-Term Liabilities $2.375B
YoY Change 20.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.1M
Total Long-Term Liabilities $2.375B
Total Liabilities $2.846B
YoY Change 18.07%
SHAREHOLDERS EQUITY
Retained Earnings -$637.4M
YoY Change -1.27%
Common Stock $1.706B
YoY Change 2.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.30M
YoY Change 101.72%
Treasury Stock Shares $216.1K
Shareholders Equity $1.056B
YoY Change
Total Liabilities & Shareholders Equity $3.903B
YoY Change 14.23%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income $85.06M
YoY Change -1.05%
Depreciation, Depletion And Amortization $49.30M
YoY Change 6.25%
Cash From Operating Activities $126.8M
YoY Change 1.2%
INVESTING ACTIVITIES
Capital Expenditures -$27.30M
YoY Change 11.89%
Acquisitions
YoY Change
Other Investing Activities -$18.90M
YoY Change -69.17%
Cash From Investing Activities -$46.20M
YoY Change -46.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -84.60M
YoY Change 129.89%
NET CHANGE
Cash From Operating Activities 126.8M
Cash From Investing Activities -46.20M
Cash From Financing Activities -84.60M
Net Change In Cash -4.000M
YoY Change -237.93%
FREE CASH FLOW
Cash From Operating Activities $126.8M
Capital Expenditures -$27.30M
Free Cash Flow $154.1M
YoY Change 2.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99656000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
96240000
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2017Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.83
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98490277
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
84970000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97254125
CY2016Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97881878
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
CY2016Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.76
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98044523
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.87
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1216000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5831000
us-gaap Share Based Compensation
ShareBasedCompensation
7060000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3866000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
259000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6009000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
38083000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
23281000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4334000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
401000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-21768000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
9300000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
320638000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
119936000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74446000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3340000
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
-13000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-191029000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8997000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19817000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11250000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
407000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
317000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
400000000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
247500000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
450000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
408000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
7753000
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-328000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
97547000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
302000000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3993000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-150000
us-gaap Share Based Compensation
ShareBasedCompensation
19650000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
39072000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
21700000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-761000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5623000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
7745000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
337826000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
526029000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
78825000
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
-16000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-597085000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6204000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18278000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15015000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
300000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9391000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-5923000
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
244201000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
315000
us-gaap Income Taxes Paid
IncomeTaxesPaid
11023000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
915000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
15152000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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37479000
us-gaap Interest Paid
InterestPaid
91952000
CY2017Q3 us-gaap Finite Lived Intangible Assets Gross
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2618180000
CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
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2523887000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2017Q3 us-gaap Goodwill Gross
GoodwillGross
1994005000
CY2017Q3 lamr Goodwill Accumulated Amortization
GoodwillAccumulatedAmortization
253536000
CY2016Q4 us-gaap Goodwill Gross
GoodwillGross
1979894000
CY2016Q4 lamr Goodwill Accumulated Amortization
GoodwillAccumulatedAmortization
253536000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
1103000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3182000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
3033000
CY2017Q3 lamr Balance Of Permitted Transfers To Parent Company
BalanceOfPermittedTransfersToParentCompany
2834543000
CY2016Q4 lamr Balance Of Permitted Transfers To Parent Company
BalanceOfPermittedTransfersToParentCompany
2702633000
lamr Description Of Provisions On Senior Credit Facility Transfers To Parent Company Subject To Additional Restrictions
DescriptionOfProvisionsOnSeniorCreditFacilityTransfersToParentCompanySubjectToAdditionalRestrictions
(i) the total debt ratio less than 6.5 to 1 and (ii) the secured debt ratio does not exceed 3.0 to 1.
CY2017Q3 lamr Maximum Holding Debt Ratio For Applicability Of Restriction On Transfer
MaximumHoldingDebtRatioForApplicabilityOfRestrictionOnTransfer
6.5
CY2017Q3 lamr Maximum Actual Holdings Debt Ratio
MaximumActualHoldingsDebtRatio
6.5
CY2017Q3 lamr Available Cumulative Credit
AvailableCumulativeCredit
1666430000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Vesting terms ranging from three to five years and include 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date.
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2479402000
CY2017Q3 lamr Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
22500000
CY2017Q3 lamr Debt Instrument Carrying Amount Non Current
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2456902000
CY2017Q3 us-gaap Deferred Finance Costs Net
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CY2017Q3 us-gaap Long Term Debt
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2449429000
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2016Q4 lamr Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
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CY2016Q4 lamr Debt Instrument Carrying Amount Non Current
DebtInstrumentCarryingAmountNonCurrent
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CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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CY2016Q4 us-gaap Long Term Debt
LongTermDebt
2349183000
CY2017Q2 lamr Line Of Credit Facility Amended And Restated Date
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2017-05-15
CY2017Q3 us-gaap Line Of Credit
LineOfCredit
90000000
CY2017Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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346909000
CY2017Q3 us-gaap Debt Instrument Fair Value
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2578645000
CY2017Q3 lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
15.95
CY2016Q3 lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
15.95
lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
47.85
lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
47.85
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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273496000
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
219857000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
84733000

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