2016 Q3 Form 10-Q Financial Statement

#000114420416132730 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $71.27M $67.49M
YoY Change 5.6% -3.04%
Cost Of Revenue $54.63M $51.13M
YoY Change 6.85% -1.05%
Gross Profit $16.65M $16.36M
YoY Change 1.77% -8.81%
Gross Profit Margin 23.36% 24.24%
Selling, General & Admin $4.150M $3.700M
YoY Change 12.16% -4.64%
% of Gross Profit 24.92% 22.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.000M $3.100M
YoY Change -3.23% -33.62%
% of Gross Profit 18.02% 18.95%
Operating Expenses $58.77M $54.83M
YoY Change 7.19% -1.3%
Operating Profit $8.835M $8.800M
YoY Change 0.4% -0.53%
Interest Expense $3.726M $3.900M
YoY Change -4.46% -5.77%
% of Operating Profit 42.17% 44.32%
Other Income/Expense, Net $7.000K $1.000K
YoY Change 600.0% -99.83%
Pretax Income $5.955M $3.394M
YoY Change 75.46% -46.21%
Income Tax $3.763M $1.317M
% Of Pretax Income 63.19% 38.8%
Net Earnings $2.192M $2.077M
YoY Change 5.54% -44.51%
Net Earnings / Revenue 3.08% 3.08%
Basic Earnings Per Share $0.08 $0.08
Diluted Earnings Per Share $0.08 $0.08
COMMON SHARES
Basic Shares Outstanding 25.82M shares 25.46M shares
Diluted Shares Outstanding 26.18M shares 25.91M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $200.0K
YoY Change -50.0% -33.33%
Cash & Equivalents $80.00K $186.0K
Short-Term Investments
Other Short-Term Assets $17.80M $17.50M
YoY Change 1.71% 16.67%
Inventory $700.0K $1.073M
Prepaid Expenses $7.624M
Receivables $36.40M $36.86M
Other Receivables $1.000M $1.620M
Total Short-Term Assets $56.10M $57.22M
YoY Change -1.95% -3.69%
LONG-TERM ASSETS
Property, Plant & Equipment $103.3M $103.6M
YoY Change -0.33% 3.34%
Goodwill $24.97M
YoY Change 0.97%
Intangibles $12.49M $12.70M
YoY Change -1.66%
Long-Term Investments
YoY Change
Other Assets $3.300M $2.591M
YoY Change 27.36% 23.38%
Total Long-Term Assets $543.0M $537.7M
YoY Change 0.99% 0.85%
TOTAL ASSETS
Total Short-Term Assets $56.10M $57.22M
Total Long-Term Assets $543.0M $537.7M
Total Assets $599.1M $594.9M
YoY Change 0.71% 0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.800M $5.909M
YoY Change -1.84% 12.51%
Accrued Expenses $22.10M $12.25M
YoY Change 80.48% -8.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.700M $7.700M
YoY Change -64.94% 165.52%
Total Short-Term Liabilities $41.50M $47.41M
YoY Change -12.47% 10.99%
LONG-TERM LIABILITIES
Long-Term Debt $265.4M $272.2M
YoY Change -2.5% -3.99%
Other Long-Term Liabilities $17.00M $934.0K
YoY Change 1720.13% -77.5%
Total Long-Term Liabilities $282.4M $934.0K
YoY Change 30135.55% -77.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.50M $47.41M
Total Long-Term Liabilities $282.4M $934.0K
Total Liabilities $386.7M $388.9M
YoY Change -0.56% 0.38%
SHAREHOLDERS EQUITY
Retained Earnings -$1.831M
YoY Change 57.57%
Common Stock $241.6M
YoY Change 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.01M
YoY Change 0.0%
Treasury Stock Shares 2.318M shares 2.318M shares
Shareholders Equity $212.4M $206.0M
YoY Change
Total Liabilities & Shareholders Equity $599.1M $594.9M
YoY Change 0.71% 0.39%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $2.192M $2.077M
YoY Change 5.54% -44.51%
Depreciation, Depletion And Amortization $3.000M $3.100M
YoY Change -3.23% -33.62%
Cash From Operating Activities $6.790M $9.480M
YoY Change -28.38% 49.06%
INVESTING ACTIVITIES
Capital Expenditures -$2.230M -$3.900M
YoY Change -42.82% 117.88%
Acquisitions
YoY Change
Other Investing Activities -$3.050M -$6.430M
YoY Change -52.57% 1848.48%
Cash From Investing Activities -$5.270M -$10.32M
YoY Change -48.93% 386.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.480M 830.0K
YoY Change -278.31% -119.95%
NET CHANGE
Cash From Operating Activities 6.790M 9.480M
Cash From Investing Activities -5.270M -10.32M
Cash From Financing Activities -1.480M 830.0K
Net Change In Cash 40.00K -10.00K
YoY Change -500.0% -112.5%
FREE CASH FLOW
Cash From Operating Activities $6.790M $9.480M
Capital Expenditures -$2.230M -$3.900M
Free Cash Flow $9.020M $13.38M
YoY Change -32.59% 64.17%

Facts In Submission

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4340000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
3901000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
3327000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
2027000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
700000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1395000 USD
CY2015Q3 us-gaap Interest Expense Debt
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139000 USD
CY2016Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
140000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1700000 USD
CY2016Q2 us-gaap Dividends Payable Date Declared Day Month And Year
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2016-06-02
CY2016Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2016-06-30
CY2016Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
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2016-06-16
CY2016Q1 us-gaap Dividends Payable Date Declared Day Month And Year
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2016-03-10
CY2016Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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2016-04-05
CY2016Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2016-03-22
CY2016Q3 salm Business Acquisition Initial Purchase Price
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7189000 USD
CY2016Q3 salm Business Acquisition Deferred Payment
BusinessAcquisitionDeferredPayment
1566000 USD
CY2016Q3 salm Business Acquisition Cost Of Acquired Entity Cash Paid And Due
BusinessAcquisitionCostOfAcquiredEntityCashPaidAndDue
8755000 USD
CY2016Q3 salm Fair Value Business Combination Contingent Consideration
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66000 USD
CY2016Q3 salm Accretion Of Acquisition Related Contingent Consideration
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5000 USD
CY2016Q3 salm Reclassification From Long Term Borrowing To Shortterm Borrowing
ReclassificationFromLongTermBorrowingToShorttermBorrowing
0 USD
CY2016Q3 salm Business Combination Contingent Consideration Arrangements Payment
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11000 USD
CY2016Q3 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
305000 USD
CY2015Q4 salm Business Acquisition Contingent Consideration At Present Value
BusinessAcquisitionContingentConsiderationAtPresentValue
775000 USD
salm Fair Value Business Combination Contingent Consideration
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66000 USD
salm Accretion Of Acquisition Related Contingent Consideration
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21000 USD
salm Reclassification From Long Term Borrowing To Shortterm Borrowing
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0 USD
salm Business Combination Contingent Consideration Arrangements Payment
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99000 USD
CY2014Q4 salm Business Acquisition Contingent Consideration At Present Value
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3285000 USD
salm Fair Value Business Combination Contingent Consideration
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300000 USD
salm Accretion Of Acquisition Related Contingent Consideration
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86000 USD
salm Reclassification From Long Term Borrowing To Shortterm Borrowing
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0 USD
salm Business Combination Contingent Consideration Arrangements Payment
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1193000 USD
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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152982000 USD
CY2015Q4 us-gaap Debt Current
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5662000 USD
CY2016Q3 us-gaap Debt Current
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2681000 USD
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3108000 USD
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3104000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
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258988000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
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116000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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52000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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263000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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183000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
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394000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
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275000 USD
CY2015Q3 us-gaap Share Based Compensation
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170000 USD
CY2016Q3 us-gaap Share Based Compensation
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134000 USD
CY2015Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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68000 USD
CY2016Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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54000 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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102000 USD
CY2016Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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80000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.5237 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.4703 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0428 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0536 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0085 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0164 pure
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8000 shares
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Lapse Of Restrictions In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsLapseOfRestrictionsInPeriodWeightedAverageGrantDateFairValue
5.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
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52000 USD
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedInPeriodIntrinsicValue
0 USD
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
40000 USD
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited Or Expired In Period Intrinsic Value
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0 USD
CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
0 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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8000 shares
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0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
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0 shares
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0 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
salm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Forfeited In Period Weighted Average Grant Date Fair Value
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0
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0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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500000 USD
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100000 USD
CY2015Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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200000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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367940 shares
CY2015Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
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20000 USD
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6000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
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100000 USD
CY2016Q1 us-gaap Loss Contingency Accrual At Carrying Value
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500000 USD
CY2016Q3 us-gaap Operating Expenses
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CY2015Q3 us-gaap Operating Expenses
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CY2015Q3 salm Operating Income Loss Before Depreciation And Amortization
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12660000 USD
CY2016Q3 salm Operating Income Loss Before Depreciation And Amortization
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12499000 USD
salm Operating Income Loss Before Depreciation And Amortization
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35477000 USD
CY2016Q3 us-gaap Intangible Assets Net Excluding Goodwill
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12487000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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11481000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
SALEM MEDIA GROUP, INC. /DE/
dei Entity Central Index Key
EntityCentralIndexKey
0001050606
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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39454000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
43127000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2317650 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
SALM
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">Use of Estimates</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. 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The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
us-gaap Business Combination Consideration Transferred1
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8755000 USD
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AllowanceForDoubtfulAccountsReceivableCurrent
13479000 USD
CY2016Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
11423000 USD
CY2016Q3 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
262000 USD
CY2015Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
371000 USD
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1855000 USD
CY2016Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2150000 USD
CY2015Q4 us-gaap Allowance For Notes And Loans Receivable Noncurrent
AllowanceForNotesAndLoansReceivableNoncurrent
528000 USD
CY2016Q3 us-gaap Allowance For Notes And Loans Receivable Noncurrent
AllowanceForNotesAndLoansReceivableNoncurrent
582000 USD
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
162382000 USD
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2317650 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
pure
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
pure
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y4M24D
CY2016Q1 us-gaap Payments For Loans
PaymentsForLoans
750000 USD
CY2016Q1 us-gaap Payments For Loans
PaymentsForLoans
809000 USD
CY2015Q1 us-gaap Payments For Loans
PaymentsForLoans
2000000 USD
CY2016Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 USD
CY2016Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2000 USD
CY2015Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15000 USD
CY2015Q4 salm Long Term Debt And Capital Lease Obligations Current And Noncurrent
LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent
274755000 USD
CY2016Q3 salm Long Term Debt And Capital Lease Obligations Current And Noncurrent
LongTermDebtAndCapitalLeaseObligationsCurrentAndNoncurrent
268049000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
418000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
423000 USD
CY2015Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
50935000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
267865000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
256304000 USD
CY2016Q3 us-gaap Depreciation
Depreciation
3000000 USD
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.0650
CY2016Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1700000 USD
CY2016Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2016-09-09
CY2016Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2016-09-30
CY2016Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2016-09-19
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
604000 USD
CY2016Q3 salm Business Acquisition Purchase Price Allocation Broadcast Licenses
BusinessAcquisitionPurchasePriceAllocationBroadcastLicenses
705000 USD
CY2016Q3 salm Business Acquisition Purchase Price Allocation Domain And Brand Names
BusinessAcquisitionPurchasePriceAllocationDomainAndBrandNames
3250000 USD
CY2016Q3 salm Business Acquisition Purchase Price Allocation Customer Lists And Contracts
BusinessAcquisitionPurchasePriceAllocationCustomerListsAndContracts
3627000 USD
CY2016Q3 salm Business Acquisition Purchase Price Allocation Non Compete Agreement
BusinessAcquisitionPurchasePriceAllocationNonCompeteAgreement
1005000 USD
CY2016Q3 salm Business Acquisition Purchase Price Allocation Deferred Revenue
BusinessAcquisitionPurchasePriceAllocationDeferredRevenue
1763000 USD
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
8755000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Reclassifications</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. These reclassifications include the adoption of FASB Accounting Standards Update (&#8220;ASU&#8221;) 2015-03 and ASU 2015-15 and the reclassification of Salem Consumer Products from e-commerce (digital) to broadcast. Under ASU 2015-03 and 2015-15, debt issuance costs, with the exception of costs associated with obtaining line-of-credit arrangements, are reported as a reduction of the debt liability rather than as a deferred cost asset. The adoption of ASU 2015-03 and ASU 2015-15 is reported as a change in accounting principle and discussed in detail in Note 9 &#150; Notes Payable. The reclassification of Salem Consumer Products, our e-commerce business that sells books, DVD&#8217;s and editorial content developed by our on-air personalities, was made to assess the performance of each network program based on all revenue sources. Refer to Note 17 &#150; Segment Data for an explanation of this reclassification.</font><font style="FONT-SIZE: 10pt">&#160;</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3000 USD
CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4400000 USD
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2800000 USD
CY2016Q3 us-gaap Proceeds From Sale Of Land Held For Use
ProceedsFromSaleOfLandHeldForUse
700000 USD
CY2016Q3 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
305000 USD
CY2016Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
268049000 USD
CY2016Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
2124000 USD
CY2016Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
58817000 USD
CY2016Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1600000 USD

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