$SGA
SAGA COMMUNICATIONS INC

2020 Q3 Form 10-Q Financial Statement

#000155837020013375 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $24.14M $31.79M $31.27M
YoY Change -22.8% -3.48% -1.18%
Cost Of Revenue $19.62M $23.05M $23.60M
YoY Change -16.86% -2.99% 0.73%
Gross Profit $4.530M $8.740M $7.670M
YoY Change -40.94% -4.79% -6.69%
Gross Profit Margin 18.76% 27.49% 24.53%
Selling, General & Admin $2.840M $3.280M $2.790M
YoY Change 1.79% 4.13% -0.71%
% of Gross Profit 62.69% 37.53% 36.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.890M $3.310M $2.870M
YoY Change 0.7% 4.42% -1.03%
Operating Profit $247.0K $5.434M $4.801M
YoY Change -94.86% -9.57% -9.77%
Interest Expense $75.00K $163.0K $180.0K
YoY Change -58.33% -28.82% -25.93%
% of Operating Profit 30.36% 3.0% 3.75%
Other Income/Expense, Net $0.00 $5.000K $11.00K
YoY Change -100.0% 150.0% -144.0%
Pretax Income $180.0K $5.401M $4.794M
YoY Change -96.25% -9.53% -9.03%
Income Tax $1.130M $1.560M $1.460M
% Of Pretax Income 627.78% 28.88% 30.45%
Net Earnings -$950.0K $3.840M $3.334M
YoY Change -128.49% -10.59% -9.77%
Net Earnings / Revenue -3.93% 12.08% 10.66%
Basic Earnings Per Share -$0.16 $0.64 $0.56
Diluted Earnings Per Share -$0.16 $0.64 $0.56
COMMON SHARES
Basic Shares Outstanding 5.869M 5.817M 5.834M
Diluted Shares Outstanding 5.869M 5.817M 5.834M

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.30M $44.00M $41.10M
YoY Change 17.52% -1.57% -15.78%
Cash & Equivalents $48.28M $44.03M $41.07M
Short-Term Investments
Other Short-Term Assets $4.500M $3.700M $4.300M
YoY Change 4.65% -5.13% 13.16%
Inventory
Prepaid Expenses
Receivables $13.67M $18.96M $18.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $66.45M $66.72M $63.40M
YoY Change 4.81% -2.73% -11.4%
LONG-TERM ASSETS
Property, Plant & Equipment $55.88M $58.71M $65.20M
YoY Change -14.3% -0.66% 16.11%
Goodwill $19.11M $18.96M
YoY Change 0.66%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.52M $12.69M $6.000M
YoY Change 92.02% 89.67% -0.51%
Total Long-Term Assets $176.7M $185.7M $185.6M
YoY Change -4.79% 3.22% 8.54%
TOTAL ASSETS
Total Short-Term Assets $66.45M $66.72M $63.40M
Total Long-Term Assets $176.7M $185.7M $185.6M
Total Assets $243.2M $252.4M $249.0M
YoY Change -2.34% 1.58% 2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.226M $2.117M $2.000M
YoY Change 11.3% -18.98% -9.75%
Accrued Expenses $4.910M $4.996M $11.90M
YoY Change -58.74% 62.63% 251.24%
Deferred Revenue $1.080M $1.152M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $14.66M $17.50M $17.20M
YoY Change -14.76% -24.45% 25.25%
LONG-TERM LIABILITIES
Long-Term Debt $10.00M $10.00M $10.00M
YoY Change 0.0% -33.33% -50.0%
Other Long-Term Liabilities $7.036M $7.389M $6.600M
YoY Change 6.61% 367.36% 284.17%
Total Long-Term Liabilities $17.04M $17.39M $16.60M
YoY Change 2.63% 4.87% -23.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.66M $17.50M $17.20M
Total Long-Term Liabilities $17.04M $17.39M $16.60M
Total Liabilities $54.93M $60.04M $58.60M
YoY Change -6.27% -5.41% 0.34%
SHAREHOLDERS EQUITY
Retained Earnings $156.7M $162.8M
YoY Change 3.91%
Common Stock $77.00K $77.00K
YoY Change 1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $37.04M $37.36M
YoY Change 2.18%
Treasury Stock Shares $1.735M
Shareholders Equity $188.2M $192.4M $190.4M
YoY Change
Total Liabilities & Shareholders Equity $243.2M $252.4M $249.0M
YoY Change -2.34% 1.58% 2.65%

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$950.0K $3.840M $3.334M
YoY Change -128.49% -10.59% -9.77%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$110.0K $6.370M $6.140M
YoY Change -101.79% -13.8% 23.29%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K -$1.060M -$1.510M
YoY Change -66.89% -27.89% -1.95%
Acquisitions
YoY Change
Other Investing Activities $10.00K $10.00K -$10.00K
YoY Change -200.0% -100.11% -150.0%
Cash From Investing Activities -$490.0K -$1.060M -$1.520M
YoY Change -67.76% -90.15% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K -2.350M -2.060M
YoY Change -99.03% 235.71% -72.79%
NET CHANGE
Cash From Operating Activities -110.0K 6.370M 6.140M
Cash From Investing Activities -490.0K -1.060M -1.520M
Cash From Financing Activities -20.00K -2.350M -2.060M
Net Change In Cash -620.0K 2.960M 2.560M
YoY Change -124.22% -172.73% -162.29%
FREE CASH FLOW
Cash From Operating Activities -$110.0K $6.370M $6.140M
Capital Expenditures -$500.0K -$1.060M -$1.510M
Free Cash Flow $390.0K $7.430M $7.650M
YoY Change -94.9% -16.14% 17.33%

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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
618000
CY2020Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
22000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
188239000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18968000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3273000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4095000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9265000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5869000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1880000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4667000
sga Payments To Acquire Broadcast Properties
PaymentsToAcquireBroadcastProperties
190000
sga Payments To Acquire Broadcast Properties
PaymentsToAcquireBroadcastProperties
763000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1675000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
250000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
213000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
0
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-182000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5180000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3716000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6842000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10000000
sga Payments For Purchase Of Treasury Stock
PaymentsForPurchaseOfTreasuryStock
63000
sga Payments For Purchase Of Treasury Stock
PaymentsForPurchaseOfTreasuryStock
603000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3779000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17445000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4245000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3657000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44034000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44729000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48279000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41072000
CY2020Q3 sga Number Of Market Serving
NumberOfMarketServing
27
sga Number Of Fm Radio Stations
NumberOfFmRadioStations
79
sga Number Of Am Radio Stations
NumberOfAmRadioStations
34
sga Number Of Metro Signals
NumberOfMetroSignals
78
CY2020Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-950000
CY2019Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3334000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4181000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
9438000
CY2020Q3 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
-20000
CY2019Q3 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
61000
us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
-86000
us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
173000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-930000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5834000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5867000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5840000
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5869000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5834000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5867000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5840000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.59
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
27
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24143000
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
31274000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
67060000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
91281000
CY2020Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3800000
CY2020Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1400000
sga Certain Key Estimates And Assumptions Used In Impairment Test
CertainKeyEstimatesAndAssumptionsUsedInImpairmentTest
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:42.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:17.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.88%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:14.57%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:42.9%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:17.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.88%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:42.9%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:17.06%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Second and Third Quarter 2020</b></p></td><td style="vertical-align:bottom;width:3.88%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:14.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Fourth Quarter 2019</b></p></td><td style="vertical-align:bottom;width:3.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:14.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Fourth Quarter 2018</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:42.9%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Discount Rates</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:17.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">12.6% - 13.0%</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:3.88%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:14.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">12.2% - 12.2%</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:3.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:14.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">12.0% - 12.0%</p></td></tr><tr><td style="vertical-align:bottom;width:42.9%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Operating profit margin ranges</p></td><td style="vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:17.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">17.8% - 36.4%</p></td><td style="vertical-align:bottom;width:3.88%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:14.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">19.0% - 36.4%</p></td><td style="vertical-align:bottom;width:3.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:14.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">19.0% - 36.4%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:42.9%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Market long-term revenue growth rates</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:2.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:17.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">0.2% - 2.9%</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:3.88%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:14.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">0.0% - 2.9%</p></td><td style="background-color:#cceeff;vertical-align:bottom;width:3.61%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:14.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">0.5% - 2.9% </p></td></tr></table>
CY2020Q3 us-gaap Lease Cost
LeaseCost
444000
us-gaap Lease Cost
LeaseCost
1310000
CY2019Q3 us-gaap Lease Cost
LeaseCost
420000
us-gaap Lease Cost
LeaseCost
1272000
CY2020Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75800000
CY2020Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
19200000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6300000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6600000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6900000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7000000.0
CY2020Q3 sga Increase In Operating Lease Liabilities
IncreaseInOperatingLeaseLiabilities
168000
sga Increase In Operating Lease Liabilities
IncreaseInOperatingLeaseLiabilities
762000
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
444000
us-gaap Operating Lease Payments
OperatingLeasePayments
1302000
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
442000
us-gaap Operating Lease Payments
OperatingLeasePayments
1258000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
438000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1710000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1552000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1226000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
892000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1911000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7729000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1134000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6595000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
0
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
0
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
11000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
25000
CY2020Q3 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBroadcastLicenses
46000
CY2019Q4 sga Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Broadcast Licenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBroadcastLicenses
61000
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
143000
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CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019Q4 us-gaap Dividends
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1800000
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CY2019Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
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CY2019Q3 us-gaap Dividends Payable Date Declared Day Month And Year
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CY2019Q3 us-gaap Dividends
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CY2019Q2 us-gaap Dividends Payable Date Declared Day Month And Year
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CY2019Q2 us-gaap Dividends
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CY2019Q1 us-gaap Dividends
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1800000
CY2019Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
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CY2019Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
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CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1700000
us-gaap Gain Loss On Sale Of Property Plant Equipment
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1400000
CY2020Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
208000

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