2016 Q2 Form 10-Q Financial Statement
#000114420416116913 Filed on August 05, 2016
Income Statement
Concept | 2016 Q2 | 2015 Q2 |
---|---|---|
Revenue | $30.87M | $34.36M |
YoY Change | -10.16% | 1.56% |
Cost Of Revenue | $21.84M | $24.31M |
YoY Change | -10.16% | 3.45% |
Gross Profit | $9.020M | $10.05M |
YoY Change | -10.25% | -2.71% |
Gross Profit Margin | 29.22% | 29.25% |
Selling, General & Admin | $2.620M | $2.580M |
YoY Change | 1.55% | 21.7% |
% of Gross Profit | 29.05% | 25.67% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $2.630M | $2.600M |
YoY Change | 1.15% | 22.64% |
Operating Profit | $6.396M | $7.450M |
YoY Change | -14.15% | -9.28% |
Interest Expense | $182.0K | $244.0K |
YoY Change | -25.41% | -10.29% |
% of Operating Profit | 2.85% | 3.28% |
Other Income/Expense, Net | $0.00 | $409.0K |
YoY Change | -100.0% | 1263.33% |
Pretax Income | $6.214M | $7.615M |
YoY Change | -18.4% | -4.45% |
Income Tax | $2.569M | $3.141M |
% Of Pretax Income | 41.34% | 41.25% |
Net Earnings | $4.811M | $4.474M |
YoY Change | 7.53% | -6.34% |
Net Earnings / Revenue | 15.59% | 13.02% |
Basic Earnings Per Share | $0.82 | $0.77 |
Diluted Earnings Per Share | $0.81 | $0.77 |
COMMON SHARES | ||
Basic Shares Outstanding | 5.754M shares | 5.712M shares |
Diluted Shares Outstanding | 5.763M shares | 5.757M shares |
Balance Sheet
Concept | 2016 Q2 | 2015 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $17.70M | $27.40M |
YoY Change | -35.4% | 5.79% |
Cash & Equivalents | $17.74M | $27.38M |
Short-Term Investments | ||
Other Short-Term Assets | $5.500M | $5.100M |
YoY Change | 7.84% | 4.08% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $22.20M | $20.30M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $45.40M | $52.80M |
YoY Change | -14.02% | 4.55% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $57.80M | $53.90M |
YoY Change | 7.24% | -4.27% |
Goodwill | $7.282M | |
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $7.300M | $6.500M |
YoY Change | 12.31% | -0.54% |
Total Long-Term Assets | $168.6M | $147.5M |
YoY Change | 14.3% | -2.63% |
TOTAL ASSETS | ||
Total Short-Term Assets | $45.40M | $52.80M |
Total Long-Term Assets | $168.6M | $147.5M |
Total Assets | $214.0M | $200.3M |
YoY Change | 6.83% | -0.84% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $2.700M | $2.100M |
YoY Change | 28.57% | 31.25% |
Accrued Expenses | $4.368M | $10.80M |
YoY Change | -59.56% | 20.0% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $1.078M | $0.00 |
YoY Change | -100.0% | |
Total Short-Term Liabilities | $16.64M | $14.60M |
YoY Change | 13.95% | -15.61% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $35.29M | $36.10M |
YoY Change | -2.25% | -12.17% |
Other Long-Term Liabilities | $3.876M | $4.100M |
YoY Change | -5.46% | 7.89% |
Total Long-Term Liabilities | $39.16M | $40.20M |
YoY Change | -2.58% | -10.47% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $16.64M | $14.60M |
Total Long-Term Liabilities | $39.16M | $40.20M |
Total Liabilities | $84.95M | $79.80M |
YoY Change | 6.45% | -5.23% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $103.1M | |
YoY Change | ||
Common Stock | $58.51M | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $32.64M | |
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $129.0M | $120.5M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $214.0M | $200.3M |
YoY Change | 6.83% | -0.84% |
Cashflow Statement
Concept | 2016 Q2 | 2015 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $4.811M | $4.474M |
YoY Change | 7.53% | -6.34% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | $5.550M | $5.240M |
YoY Change | 5.92% | 31.99% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$1.540M | -$1.300M |
YoY Change | 18.46% | -10.34% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$140.0K | $180.0K |
YoY Change | -177.78% | -205.88% |
Cash From Investing Activities | -$1.680M | -$1.130M |
YoY Change | 48.67% | -30.67% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -1.470M | -1.250M |
YoY Change | 17.6% | -620.83% |
NET CHANGE | ||
Cash From Operating Activities | 5.550M | 5.240M |
Cash From Investing Activities | -1.680M | -1.130M |
Cash From Financing Activities | -1.470M | -1.250M |
Net Change In Cash | 2.400M | 2.860M |
YoY Change | -16.08% | 10.85% |
FREE CASH FLOW | ||
Cash From Operating Activities | $5.550M | $5.240M |
Capital Expenditures | -$1.540M | -$1.300M |
Free Cash Flow | $7.090M | $6.540M |
YoY Change | 8.41% | 20.66% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2016Q2 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
29148000 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
27688000 | USD |
CY2016Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
35287000 | USD |
CY2015Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
36365000 | USD |
CY2016Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3876000 | USD |
CY2015Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3364000 | USD |
CY2016Q2 | us-gaap |
Liabilities
Liabilities
|
84948000 | USD |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
81755000 | USD |
CY2016Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
58513000 | USD |
CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
57510000 | USD |
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
103084000 | USD |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
98180000 | USD |
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Treasury Stock Value
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|
32635000 | USD |
CY2015Q4 | us-gaap |
Treasury Stock Value
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|
32948000 | USD |
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Stockholders Equity
StockholdersEquity
|
129036000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity
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|
122816000 | USD |
CY2016Q2 | us-gaap |
Goodwill
Goodwill
|
7282000 | USD |
CY2015Q4 | us-gaap |
Goodwill
Goodwill
|
2874000 | USD |
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Property Plant And Equipment Gross
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|
169735000 | USD |
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Property Plant And Equipment Gross
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|
167074000 | USD |
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Business Acquisitions Proforma Interest Expenses
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|
378000 | USD | |
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Deferred Revenue Current
DeferredRevenueCurrent
|
1729000 | USD |
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Deferred Revenue Current
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Liabilities Current
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|
16637000 | USD |
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Liabilities Current
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|
14338000 | USD |
CY2016Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
111919000 | USD |
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
108943000 | USD |
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Accrued Liabilities Current
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|
4368000 | USD |
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Accrued Liabilities Current
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|
2792000 | USD |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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|
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
|
814000 | USD |
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Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
12740000 | USD | |
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Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
12833000 | USD | |
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Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2550000 | USD | |
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Payments To Acquire Property Plant And Equipment
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|
2254000 | USD | |
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Payments For Proceeds From Other Investing Activities
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|
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Payments For Proceeds From Other Investing Activities
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Net Cash Provided By Used In Investing Activities Continuing Operations
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Net Cash Provided By Used In Investing Activities Continuing Operations
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|
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
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977000 | USD |
us-gaap |
Proceeds From Payments For Other Financing Activities
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|
0 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
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Net Cash Provided By Used In Financing Activities Continuing Operations
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|
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Net Cash Provided By Used In Financing Activities Continuing Operations
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|
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Cash And Cash Equivalents Period Increase Decrease
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|
-3879000 | USD | |
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Cash And Cash Equivalents At Carrying Value
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Payments To Acquire Broadcast Properties
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12638000 | USD | |
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Payments To Acquire Broadcast Properties
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Cash And Cash Equivalents At Carrying Value
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Undistributed Earnings Loss Allocated To Participating Securities Basic
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Net Income Loss Available To Common Stockholders Basic
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68000 | USD |
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Net Income Loss Available To Common Stockholders Basic
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4722000 | USD |
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Net Income Loss Available To Common Stockholders Basic
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|
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
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|
376000 | USD |
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|
4614000 | USD |
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
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8045000 | USD |
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBroadcastLicenses
|
2218000 | USD |
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Intangibles Deferred Costs And Investments
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|
397000 | USD |
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Intangibles Deferred Costs And Investments
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|
1623000 | USD |
CY2016Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
|
4408000 | USD |
CY2015Q4 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
|
2548000 | USD |
CY2016Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
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|
41000 | USD |
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
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|
82000 | USD |
CY2016Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
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|
41000 | USD |
CY2015Q4 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
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|
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broad Cast Licenses Television Segment
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|
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|
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|
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Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Under Television Segment
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|
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Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
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|
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us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
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us-gaap |
Business Acquisitions Pro Forma Revenue
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|
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Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
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|
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Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
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|
417000 | USD | |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
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|
7826000 | USD | |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
7191000 | USD | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
1.34 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
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|
1.24 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
1.33 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
1.23 | ||
sga |
Business Acquisitions Proforma Station Operating Expeneses
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|
50120000 | USD | |
sga |
Business Acquisitions Proforma Station Operating Expeneses
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|
50425000 | USD | |
sga |
Business Acquisitions Proforma Corporate General And Administrative Expenses
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|
5337000 | USD | |
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Business Acquisitions Proforma Corporate General And Administrative Expenses
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|
5065000 | USD | |
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Business Acquisitions Proforma Operating Income
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|
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Business Acquisitions Proforma Operating Income
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|
12257000 | USD | |
sga |
Business Acquisitions Proforma Interest Expenses
BusinessAcquisitionsProformaInterestExpenses
|
485000 | USD | |
sga |
Business Acquisitions Proforma Income Tax Expenses Benefit
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|
5514000 | USD | |
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Business Acquisitions Proforma Income Tax Expenses Benefit
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|
4998000 | USD | |
sga |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Taxes Changes In Accounting And Extraordinary Items
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|
13340000 | USD | |
sga |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Taxes Changes In Accounting And Extraordinary Items
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|
12189000 | USD | |
CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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|
233334 | shares |
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Percentage To Retain Annual Restricted Stock Awards
PercentageToRetainAnnualRestrictedStockAwards
|
0.5 | pure |
CY2015Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | USD |
CY2016Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1078000 | USD |
CY2016Q2 | us-gaap |
Secured Debt
SecuredDebt
|
1100000 | USD |
us-gaap |
Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
|
266000 | USD | |
us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
557000 | USD | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-06-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
SAGA COMMUNICATIONS INC | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000886136 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
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Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
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Trading Symbol
TradingSymbol
|
SGA | ||
CY2016Q2 | us-gaap |
Assets
Assets
|
213984000 | USD |
CY2015Q4 | us-gaap |
Assets
Assets
|
204571000 | USD |
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
213984000 | USD |
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Liabilities And Stockholders Equity
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|
204571000 | USD |
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Other Cost And Expense Operating
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|
8000 | USD |
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Other Cost And Expense Operating
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|
14000 | USD |
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Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
8000 | USD | |
us-gaap |
Other Cost And Expense Operating
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|
14000 | USD | |
us-gaap |
Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
0 | USD | |
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Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
777000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
1465000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
1161000 | USD | |
CY2016Q2 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
9000 | shares |
CY2015Q2 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
45000 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
9000 | shares | |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
48000 | shares | |
CY2016Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
CY2015Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
CY2016Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
36365000 | USD |
CY2015Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
36365000 | USD |
sga |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercise Price Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePriceDescription
|
may not be exercised at a price which is less than 100% of the fair market value of shares at the date of grant. | ||
sga |
Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
|
P10Y | ||
sga |
Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
|
8000 | USD | |
sga |
Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
|
14000 | USD | |
CY2016Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
36438000 | USD |
CY2015Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
36746000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Station Operating Expeneses
BusinessAcquisitionsProformaStationOperatingExpeneses
|
25420000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Station Operating Expeneses
BusinessAcquisitionsProformaStationOperatingExpeneses
|
25968000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Corporate General And Administrative Expenses
BusinessAcquisitionsProformaCorporateGeneralAndAdministrativeExpenses
|
2620000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Corporate General And Administrative Expenses
BusinessAcquisitionsProformaCorporateGeneralAndAdministrativeExpenses
|
2583000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
|
8000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Operating Expenses Other
BusinessAcquisitionsProformaOperatingExpensesOther
|
14000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Operating Income
BusinessAcquisitionsProformaOperatingIncome
|
8390000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Operating Income
BusinessAcquisitionsProformaOperatingIncome
|
8181000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Interest Expenses
BusinessAcquisitionsProformaInterestExpenses
|
189000 | USD |
CY2015Q2 | sga |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Taxes Changes In Accounting And Extraordinary Items
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeTaxesChangesInAccountingAndExtraordinaryItems
|
8346000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Interest Expenses
BusinessAcquisitionsProformaInterestExpenses
|
244000 | USD |
CY2016Q2 | us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
0 | USD |
CY2015Q2 | us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
409000 | USD |
CY2016Q2 | sga |
Business Acquisition Pro Forma Income Loss From Continuing Operations Before Taxes Changes In Accounting And Extraordinary Items
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeTaxesChangesInAccountingAndExtraordinaryItems
|
8201000 | USD |
CY2016Q2 | sga |
Business Acquisitions Proforma Income Tax Expenses Benefit
BusinessAcquisitionsProformaIncomeTaxExpensesBenefit
|
3390000 | USD |
CY2015Q2 | sga |
Business Acquisitions Proforma Income Tax Expenses Benefit
BusinessAcquisitionsProformaIncomeTaxExpensesBenefit
|
3441000 | USD |
CY2016Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
4811000 | USD |
CY2015Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
4905000 | USD |
CY2016Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.82 | |
CY2015Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.85 | |
CY2016Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.82 | |
CY2015Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.84 | |
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<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: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>2. Recent Accounting Pronouncements</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i>Recently Adopted Accounting Pronouncements</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In September 2015, the FASB issued Accounting Standards Update No. 2015-16, <i>“Business Combinations (Topic 805), Simplifying the Accounting for Measurement Period Adjustments”,</i> (“ASU 2015-16”), which eliminated the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment, including the effect on earnings of any amounts it would have recorded in previous periods if the accounting had been completed at the acquisition date. This amendment was adopted on January 1, 2016 and did not have a material impact on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In April 2015, the FASB issued Accounting Standards Update No. 2015-05, “<i>Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement</i>” (“ASU 2015-05”), with new guidance on whether a cloud computing arrangement includes a software license and the accounting for such an arrangement. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for consistently with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the agreement should be accounted for as a service contract. This amendment was adopted on January 1, 2016 and did not have a material impact on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “<i>Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs</i>” (“ASU 2015-03”), and in August 2015 the FAS issued ASU 2015-15, <i>“Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements”.</i> These ASUs require debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt consistent with debt discounts. The presentation and subsequent measurement of debt issuance costs associated with line of credit, may be presented as an asset and amortized ratably over the term of the line of credit arrangement, regardless of whether there are outstanding borrowings on the arrangement. We currently present deferred financing costs related to our line of credit within Other assets. These amendments were adopted on January 1, 2016 and did not have a material impact on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In February 2015, the FASB issued Accounting Standards Update No. 2015-02, “<i>Consolidation (Topic 810), Amendments to the Consolidation Analysis</i>” (“ASU 2015-02”)<i>,</i> which amended the consolidation requirements in ASC 810, primarily related to limited partnerships and VIEs. This amendment was adopted on January 1, 2016 and did not have a material impact on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “<i>Income Statement-Extraordinary and Unusual Items</i>” (“ASU 2015-01”), which simplified income statement presentation by eliminating the need to determine whether to classify an item as an extraordinary item. This amendment was adopted on January 1, 2016 and did not have a material impact on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i>Recent Accounting Pronouncements – Not Yet Adopted</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In June 2016, the FASB issued ASU No. 2016-13, “<i>Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”</i> (“ASU 2016-13”), which amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. ASU 2016-13 is effective for fiscal years and interim periods beginning after December 15, 2019. The Company is currently evaluating the impact that this standard will have on our consolidated financial statements.</div>   <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In March 2016, the FASB issued ASU No. 2016-09, <i>"Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting"</i> ("ASU 2019-09"), which includes multiple amendments intended to simplify aspects of share-based payment accounting. Amendments to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, and forfeitures will be applied using a modified retrospective transition method through a cumulative-effect adjustment to equity as of the beginning of the period of adoption. Amendments to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement will be applied retrospectively, and amendments requiring the recognition of excess tax benefits and tax deficiencies in the income statement are to be applied prospectively. ASU 2016-09 will be effective for annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.15pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In February 2016, the FASB issued Accounting Standards Update No. 2016-02, <i>“Leases (Topic 842)”</i> (“ASU 2016-02”)¸which requires that all leases with a term of more than one year, covering leased assets such as real estate, broadcasting towers and equipment, be reflected on the balance sheet as assets and liabilities for the rights and obligations created by these leases. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact of the provisions of this new standard on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20.15pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In November 2015, the FASB issued Accounting Standards Update No. 2015-17, <i>“Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes”</i> (“ASU 2015-17”), which requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. ASU 2015-17 is effective for fiscal years and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact of the provisions of this new standard on our consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 13.2pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In August 2014, the FASB issued Accounting Standards Update No. 2014-15, “<i>Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern</i>” (“ASU 2014-15”), which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern and provide related disclosures. ASU 2014-15 is effective for annual reporting the first interim period within annual reporting periods beginning after December 15, 2016 and is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> In May 2014, the FASB issued Accounting Standards Update No. 2014-09, <i>“Revenue from Contracts with Customers”</i> (“ASU 2014-09”), which provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under GAAP. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, “<i>Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”</i> (“ASU 2016-08”), which clarifies how an entity should identify the unit of accounting for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. In April 2016, the FASB issued Accounting Standards Update No. 2016-10, “<i>Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing”</i> (“ASU 2016-10”), which clarifies guidance related to identifying the performance obligations and licensing implementation guidance contained in the new revenue recognition standard. In May 2016, the FASB issued Accounting Standards Update No. 2016-12, “<i>Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients”</i> (“ASU 2016-12”), which addresses narrow-scope improvements to the guidance on collectability, noncash consideration and completed contracts at transition as well as providing a practical expedient for contract modifications at transition and an accounting polidy election related to the presentation of sales taxes and other similar taxes collected from customers. ASU 2014-09, ASU 2016-08, ASU 2016-12, and ASU 2016-10 are effective for the first interim period within annual reporting periods beginning after December 15, 2016.  In July 2015, the FASB made a decision to defer the effective date of ASU 2014-09 for one year and permit early adoption as of the original effective date. As a result, the standard is effective for us for fiscal and interim periods beginning January 1, 2018. The Company is currently evaluating the impact of the provisions of this standard on our consolidated financial statements.</div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> |