2017 Q4 Form 10-K Financial Statement

#000119312519072280 Filed on March 13, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q1 2017
Revenue $67.21M $64.98M $263.7M
YoY Change -4.93% 0.63% -3.86%
Cost Of Revenue $50.89M $50.89M $203.6M
YoY Change -3.18% 1.54% -2.49%
Gross Profit $16.32M $14.09M $60.10M
YoY Change -9.98% -2.49% -8.24%
Gross Profit Margin 24.28% 21.68% 22.79%
Selling, General & Admin $3.070M $5.130M $16.30M
YoY Change 0.0% 21.85% 8.67%
% of Gross Profit 18.81% 36.41% 27.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.370M $4.122M $16.96M
YoY Change -6.22% -0.31% -1.82%
% of Gross Profit 26.78% 29.25% 28.22%
Operating Expenses $7.470M $9.240M $33.20M
YoY Change -0.27% -82.99% 5.4%
Operating Profit $4.531M $4.819M $22.97M
YoY Change 31.03% -20.78% -18.18%
Interest Expense -$4.550M $3.430M $16.71M
YoY Change 119.81% -9.64% 11.84%
% of Operating Profit -100.42% 71.18% 72.72%
Other Income/Expense, Net $0.00 $0.00 -$80.00K
YoY Change -1433.33%
Pretax Income -$20.00K $1.706M $3.774M
YoY Change -101.41% 227.45% -71.93%
Income Tax $620.0K $646.0K -$20.87M
% Of Pretax Income 37.87% -552.99%
Net Earnings $22.36M $1.060M $24.64M
YoY Change 652.29% 200.28% 177.74%
Net Earnings / Revenue 33.27% 1.63% 9.34%
Basic Earnings Per Share $0.85 $0.04 $0.94
Diluted Earnings Per Share $0.85 $0.04 $0.94
COMMON SHARES
Basic Shares Outstanding 26.17M shares 25.90M shares 26.07M shares
Diluted Shares Outstanding 26.38M shares 26.29M shares 26.44M shares

Balance Sheet

Concept 2017 Q4 2017 Q1 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $100.0K $0.00
YoY Change -100.0% 0.0% -100.0%
Cash & Equivalents $3.000K $83.00K $0.00
Short-Term Investments
Other Short-Term Assets $10.30M $7.100M $10.30M
YoY Change -34.39% -59.66% -34.39%
Inventory $730.0K $800.0K $700.0K
Prepaid Expenses $6.824M
Receivables $32.55M $34.00M $34.80M
Other Receivables $820.0K $900.0K $900.0K
Total Short-Term Assets $46.72M $42.90M $46.70M
YoY Change -14.29% -18.9% -14.31%
LONG-TERM ASSETS
Property, Plant & Equipment $99.48M $102.6M $99.50M
YoY Change -3.22% -2.47% -3.21%
Goodwill $26.42M $25.61M
YoY Change 3.17%
Intangibles $13.10M $13.35M
YoY Change -9.05% -2.99%
Long-Term Investments
YoY Change
Other Assets $3.191M $5.000M $5.800M
YoY Change 8.1% 66.67% 45.0%
Total Long-Term Assets $526.1M $535.6M $526.1M
YoY Change -1.8% -0.96% -1.81%
TOTAL ASSETS
Total Short-Term Assets $46.72M $42.90M $46.70M
Total Long-Term Assets $526.1M $535.6M $526.1M
Total Assets $572.8M $578.5M $572.8M
YoY Change -2.96% -2.56% -2.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.584M $5.800M $1.600M
YoY Change -68.12% 38.1% -68.0%
Accrued Expenses $9.281M $21.80M $18.40M
YoY Change -40.73% 5.83% -23.01%
Deferred Revenue $12.76M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.100M $2.100M $9.100M
YoY Change 1416.67% -65.57% 1416.67%
Total Short-Term Liabilities $42.15M $39.40M $42.10M
YoY Change 7.69% -6.64% 7.67%
LONG-TERM LIABILITIES
Long-Term Debt $249.6M $255.5M $249.6M
YoY Change -4.4% -4.31% -4.4%
Other Long-Term Liabilities $64.00K $15.10M $15.70M
YoY Change -4.48% -10.65% 1.95%
Total Long-Term Liabilities $64.00K $270.6M $265.3M
YoY Change -4.48% -4.68% -4.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.15M $39.40M $42.10M
Total Long-Term Liabilities $64.00K $270.6M $265.3M
Total Liabilities $341.5M $363.9M $341.5M
YoY Change -9.9% -5.06% -9.92%
SHAREHOLDERS EQUITY
Retained Earnings $20.37M
YoY Change 709.62%
Common Stock $244.6M
YoY Change 0.92%
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 $231.3M $211.2M $231.3M
YoY Change
Total Liabilities & Shareholders Equity $572.8M $578.5M $572.8M
YoY Change -2.96% -2.56% -2.96%

Cashflow Statement

Concept 2017 Q4 2017 Q1 2017
OPERATING ACTIVITIES
Net Income $22.36M $1.060M $24.64M
YoY Change 652.29% 200.28% 177.74%
Depreciation, Depletion And Amortization $4.370M $4.122M $16.96M
YoY Change -6.22% -0.31% -1.82%
Cash From Operating Activities $2.160M $9.037M $27.33M
YoY Change -82.52% -18.44% -29.68%
INVESTING ACTIVITIES
Capital Expenditures -$1.730M -$2.630M -$8.580M
YoY Change -24.78% 0.0% -14.46%
Acquisitions
YoY Change
Other Investing Activities $1.240M $111.0K $242.0K
YoY Change -256.96% -50.88% -60.07%
Cash From Investing Activities -$490.0K -$3.130M -$10.34M
YoY Change -84.19% -44.89% -33.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.680M -$5.954M -17.12M
YoY Change -81.76% 10.06% -26.67%
NET CHANGE
Cash From Operating Activities 2.160M $9.037M 27.33M
Cash From Investing Activities -490.0K -$3.130M -10.34M
Cash From Financing Activities -1.680M -$5.954M -17.12M
Net Change In Cash -10.00K -$47.00K -127.0K
YoY Change -120.0% 370.0% -496.88%
FREE CASH FLOW
Cash From Operating Activities $2.160M $9.037M $27.33M
Capital Expenditures -$1.730M -$2.630M -$8.580M
Free Cash Flow $3.890M $11.67M $35.91M
YoY Change -73.47% -14.9% -26.56%

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CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
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CY2018Q4 us-gaap Goodwill
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CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
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CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2018Q4 salm Business Acquisition Purchase Price Allocation Non Compete Agreement
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CY2018Q4 salm Business Acquisition Contingent Consideration At Present Value
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CY2018Q4 salm Business Acquisition Estimated Fair Value Of Contingent Earn Out Consideration
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CY2018Q4 salm Business Acquisition Purchase Price Allocation Domain And Brand Names
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CY2018Q4 salm Business Acquisition Purchase Price Allocation Subscriber Base And Lists
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CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2017 salm Fair Value Business Combination Contingent Consideration
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CY2017 salm Reclassification From Long Term Borrowing To Short Term Borrowing
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CY2017 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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CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 us-gaap Accretion Expense
AccretionExpense
24000
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
543000
CY2018 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Advertising and Promotional Cost</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Costs of media advertising and associated production costs are expensed as incurred and amounted to approximately $10.9&#xA0;million and $12.0&#xA0;million for each of the years ended December&#xA0;31, 2018 and 2017.</p> </div>
CY2018 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1114000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6200000
CY2018 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
76000
CY2018 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
2100000
CY2018 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
200000
CY2018 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2800000
CY2018 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
11180000
CY2018 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.26
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Concentrations of Credit Risks</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents; trade accounts receivable and derivative instruments. We place our cash and cash equivalents with high quality financial institutions. Such balances may be in excess of the Federal Deposit Insurance Corporation insured limits. To manage the related credit exposure, we continually monitor the credit worthiness of the financial institutions where we have deposits. Concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services, as well as the dispersion of our operations across many geographic areas. We perform ongoing credit evaluations of our customers, but generally do not require collateral to support customer receivables. We establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information. Historically, our bad debt expense has been within management&#x2019;s expectations.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> These estimates require the use of judgment as future events and the effect of these events cannot be predicted with certainty. 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.</p> </div>
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
114000
CY2018 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
6300000
CY2018 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
12034000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
282000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
282000
CY2018 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
6192000
CY2018 us-gaap Costs And Expenses
CostsAndExpenses
245817000
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-658000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2191000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2849000
CY2018 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
2191000
CY2018 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1900000
CY2018 us-gaap Depreciation
Depreciation
12000000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18226000
CY2018 us-gaap Dividends
Dividends
6806000
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Document Type
DocumentType
10-K
CY2018 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
-4700000
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0001050606
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
141000
CY2018 dei Entity Registrant Name
EntityRegistrantName
SALEM MEDIA GROUP, INC. /DE/
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Small Business
EntitySmallBusiness
true
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2018 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-4653000
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
648000
CY2018 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15686000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-719000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2473000
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-308000
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
186000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-151000
CY2018 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
2834000
CY2018 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
2870000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-147000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2284000
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1031000
CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
95000
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-3365000
CY2018 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2814000
CY2018 us-gaap Interest Expense
InterestExpense
18328000
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
100000
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-53000
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-15000
CY2018 us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
287000
CY2018 us-gaap Interest Paid
InterestPaid
17231000
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
5000
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
15400000
CY2018 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
6534000
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation.</p> </div>
CY2018 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-79000
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
50000
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6806000
CY2018 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
420000
CY2018 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
9267000
CY2018 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
9894000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
43000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10724000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12123000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22961000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-3192000
CY2018 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
154000
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-10000
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segments
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
16966000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
20200000
CY2018 us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
Related parties include our directors, executive officers, nominees to become a director, any person beneficially owning more than 5% of any class of our stock, immediate family members of any of the foregoing, and any entity in which any of the foregoing persons is employed or is a general partner or principal or in which the person has a 10% or greater beneficial ownership interest. The policy covers material transactions in which a related party had, has or will have a direct or indirect interest.
CY2018 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
15443000
CY2018 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-302000
CY2018 us-gaap Profit Loss
ProfitLoss
-3192000
CY2018 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
85000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2098000
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
43000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
262783000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
543000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y4M24D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M6D
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0789 pure
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0293 pure
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
5.51
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4184 pure
CY2018 dei Trading Symbol
TradingSymbol
SALM
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26179702 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26179702 shares
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> 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. Actual results could differ from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Significant areas for which management uses estimates include:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">revenue recognition,</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">asset impairments, including broadcasting licenses, goodwill and other indefinite-lived intangible assets;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">probabilities associated with the potential for contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">fair value measurements;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">contingency reserves;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">allowance for doubtful accounts;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">sales returns and allowances;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">barter transactions;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">inventory reserves;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">reserves for royalty advances;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">fair value of equity awards;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">self-insurance reserves;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">estimated lives for tangible and intangible assets;</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">income tax valuation allowances; and</p> </td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="left">uncertain tax positions.</p> </td> </tr> </table> </div>
CY2018 salm Related Party Annual Payments For Insurance Premiums
RelatedPartyAnnualPaymentsForInsurancePremiums
386000
CY2018 salm Business Combination Contingent Consideration Arrangements Payment
BusinessCombinationContingentConsiderationArrangementsPayment
-140000
CY2018 salm Increase Decrease In Contingent Earn Out Payment Liability
IncreaseDecreaseInContingentEarnOutPaymentLiability
76000
CY2018 salm Income Tax Reconciliation Other Permanent Items
IncomeTaxReconciliationOtherPermanentItems
318000
CY2018 salm Percentage Of Fair Value Over Carrying Value Benchmark For Qualitative Impairment Analysis
PercentageOfFairValueOverCarryingValueBenchmarkForQualitativeImpairmentAnalysis
0.946 pure
CY2018 salm Percentage Of Total Revenue
PercentageOfTotalRevenue
0.364 pure
CY2018 salm Contract With Customer Liability Revenue Recognized And Recorded Related To Short Term Contract
ContractWithCustomerLiabilityRevenueRecognizedAndRecordedRelatedToShortTermContract
-16245000
CY2018 salm Contract With Customer Liability Revenue Recognized Related To Long Term Contract
ContractWithCustomerLiabilityRevenueRecognizedRelatedToLongTermContract
0
CY2018 salm Payment For Capital Expenditures Reimbursable Under Tenant Improvement Allowances And Trade Agreements
PaymentForCapitalExpendituresReimbursableUnderTenantImprovementAllowancesAndTradeAgreements
77000
CY2018 salm Payments Of Contingent Earn Out Consideration
PaymentsOfContingentEarnOutConsideration
140000
CY2018 salm Supplemental Noncash Barter Revenue
SupplementalNoncashBarterRevenue
6837000
CY2018 salm Supplemental Noncash Barter Expense
SupplementalNoncashBarterExpense
6184000
CY2018 salm Capital Expenditures Reimbursable Under Tenant Improvement Allowances
CapitalExpendituresReimbursableUnderTenantImprovementAllowances
77000
CY2018 salm Non Cash Capital Expenditures For Property And Equipment Acquired Under Trade Agreements
NonCashCapitalExpendituresForPropertyAndEquipmentAcquiredUnderTradeAgreements
33000
CY2018 salm Contract With Customer Liability Preriod Increase Decrease Related To Short Term Contract
ContractWithCustomerLiabilityPreriodIncreaseDecreaseRelatedToShortTermContract
1402000
CY2018 salm Contract With Customer Liability Additional Revenue Recognized Related To Long Term Contract
ContractWithCustomerLiabilityAdditionalRevenueRecognizedRelatedToLongTermContract
830000
CY2018 salm Contract With Customer Liability Revenue Recognized And Recorded Related To Long Term Contract
ContractWithCustomerLiabilityRevenueRecognizedAndRecordedRelatedToLongTermContract
0
CY2018 salm Contract With Customer Liability Preriod Increase Decrease Related To Long Term Contract
ContractWithCustomerLiabilityPreriodIncreaseDecreaseRelatedToLongTermContract
1402000
CY2018 salm Contract With Customer Liability Revenue Recognized Related To Short Term Contract
ContractWithCustomerLiabilityRevenueRecognizedRelatedToShortTermContract
-7843000
CY2018 salm Contract With Customer Liability Additional Revenue Recognized Related To Short Term Contract
ContractWithCustomerLiabilityAdditionalRevenueRecognizedRelatedToShortTermContract
21460000
CY2018 salm Schedule Of Business Acquisitions Changes In Contingent Consideration Tabletext Block
ScheduleOfBusinessAcquisitionsChangesInContingentConsiderationTabletextBlock
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The following table reflects the changes in the present value of our acquisition-related estimated contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration for the years ended December&#xA0;31, 2018 and 2017.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="58%"></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended December&#xA0;31, 2018</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"><b><font style="WHITE-SPACE: nowrap">Short-Term</font></b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"><b><font style="WHITE-SPACE: nowrap">Long-Term</font></b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Accrued&#xA0;Expenses</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Other&#xA0;Liabilities</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="10" align="center"><i>(Dollars in thousands)</i></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Beginning Balance as of January&#xA0;1, 2018</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>$</b></td> <td valign="bottom" align="right"><b>69</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>$</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>$</b></td> <td valign="bottom" align="right"><b>69</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Acquisitions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>38</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>13</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>51</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Accretion of acquisition-related contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>(1</b></td> <td valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>(1</b></td> <td valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Change in the estimated fair value of contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>74</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>2</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>76</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassification of payments due in next 12 months to short-term</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Payments</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>(140</b></td> <td valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom" nowrap="nowrap" align="right"> <b>&#x2014;&#xA0;&#xA0;</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>&#xA0;</b></td> <td valign="bottom" align="right"><b>(140</b></td> <td valign="bottom" nowrap="nowrap"><b>)&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Ending Balance as of December&#xA0;31, 2018</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>$</b></td> <td valign="bottom" align="right"><b>40</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>$</b></td> <td valign="bottom" align="right"><b>15</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"><b>$</b></td> <td valign="bottom" align="right"><b>55</b></td> <td valign="bottom" nowrap="nowrap"><b>&#xA0;</b></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="16"></td> <td height="16" colspan="12"></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended December&#xA0;31, 2017</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"> <b>Short-Term</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"> <b>Long-Term</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2">&#xA0;</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Accrued Expenses</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Other Liabilities</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="10" align="center"><i>(Dollars in thousands)</i></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Beginning Balance as of January&#xA0;1, 2017</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">66</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">66</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Acquisitions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">36</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">36</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Accretion of acquisition-related contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">4</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">4</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Change in the estimated fair value of contingent <font style="WHITE-SPACE: nowrap">earn-out</font> consideration</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(23</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(23</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Reclassification of payments due in next 12 months to short-term</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Payments</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(14</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; PAGE-BREAK-INSIDE: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Ending Balance as of December&#xA0;31, 2017</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">69</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">69</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: #000000 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div>
CY2018 salm Fair Value Business Combination Contingent Consideration
FairValueBusinessCombinationContingentConsideration
51000
CY2018 salm Reclassification From Long Term Borrowing To Short Term Borrowing
ReclassificationFromLongTermBorrowingToShortTermBorrowing
0
CY2018 salm Self Funded Costs
SelfFundedCosts
9336000
CY2018 salm Self Insurance Reserve Claims Paid
SelfInsuranceReserveClaimsPaid
9255000
CY2018 salm Effective Income Tax Rate Reconciliation Change In State And Local Tax Rate Amount
EffectiveIncomeTaxRateReconciliationChangeInStateAndLocalTaxRateAmount
248000
CY2018 salm Defined Contribution Plan Maximum Employee Contribution As Percentage Of Base Salary
DefinedContributionPlanMaximumEmployeeContributionAsPercentageOfBaseSalary
0.60 pure
CY2018 salm Business Combination Recognized Identifiable Assets Increase Or Decrease
BusinessCombinationRecognizedIdentifiableAssetsIncreaseOrDecrease
200000
CY2018 salm Deferred Payments On Acquisitions
DeferredPaymentsOnAcquisitions
275000
CY2018 salm Indefinite Lived Intangible Assets Abandoned Capital Projects
IndefiniteLivedIntangibleAssetsAbandonedCapitalProjects
40000
CY2018 salm Accretion Of Acquisition Related Contingent Considerations
AccretionOfAcquisitionRelatedContingentConsiderations
-1000
CY2018 salm Estimated Present Value Of Contingent Earn Out Consideration
EstimatedPresentValueOfContingentEarnOutConsideration
52000

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