$TGNA
TEGNA INC

2023 Q3 Form 10-Q Financial Statement

#000003989923000037 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $713.2M $731.5M
YoY Change -11.19% -6.8%
Cost Of Revenue $438.3M $430.5M
YoY Change 2.18% 2.45%
Gross Profit $275.0M $301.0M
YoY Change -26.52% -17.46%
Gross Profit Margin 38.55% 41.14%
Selling, General & Admin $98.39M $97.23M
YoY Change -0.19% -2.36%
% of Gross Profit 35.78% 32.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.08M $14.99M
YoY Change -0.89% -3.52%
% of Gross Profit 5.49% 4.98%
Operating Expenses $98.39M $97.23M
YoY Change -0.19% -2.36%
Operating Profit $134.7M $281.6M
YoY Change -42.02% 27.41%
Interest Expense $43.42M $42.80M
YoY Change 0.03% -0.36%
% of Operating Profit 32.24% 15.2%
Other Income/Expense, Net -$10.60M -$37.30M
YoY Change -74.92% -17.21%
Pretax Income $124.1M $244.3M
YoY Change -34.68% 38.83%
Income Tax $27.80M $44.21M
% Of Pretax Income 22.4% 18.1%
Net Earnings $96.18M $200.1M
YoY Change -34.15% 52.09%
Net Earnings / Revenue 13.49% 27.36%
Basic Earnings Per Share $0.48 $0.92
Diluted Earnings Per Share $0.48 $0.92
COMMON SHARES
Basic Shares Outstanding 201.5M shares 225.0M shares
Diluted Shares Outstanding 201.2M shares 218.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $553.0M $489.4M
YoY Change 46.82% 143.75%
Cash & Equivalents $553.0M $489.4M
Short-Term Investments
Other Short-Term Assets $74.00M $50.58M
YoY Change -22.47% -17.05%
Inventory
Prepaid Expenses
Receivables $607.3M $593.4M
Other Receivables $8.196M $10.53M
Total Short-Term Assets $1.242B $1.144B
YoY Change 16.0% 29.2%
LONG-TERM ASSETS
Property, Plant & Equipment $441.5M $441.8M
YoY Change -3.3% -3.82%
Goodwill $2.982B $2.982B
YoY Change 0.0% 0.0%
Intangibles $2.342B $2.356B
YoY Change -2.26% -2.32%
Long-Term Investments $16.59M $16.81M
YoY Change -2.27% -1.94%
Other Assets $17.63M $19.24M
YoY Change -39.88% -37.68%
Total Long-Term Assets $5.953B $5.971B
YoY Change -1.66% -1.79%
TOTAL ASSETS
Total Short-Term Assets $1.242B $1.144B
Total Long-Term Assets $5.953B $5.971B
Total Assets $7.195B $7.115B
YoY Change 1.0% 2.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.90M $78.79M
YoY Change 2.49% -8.79%
Accrued Expenses $145.0M $150.9M
YoY Change -17.51% -17.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $357.6M $332.7M
YoY Change -9.47% -10.25%
LONG-TERM LIABILITIES
Long-Term Debt $3.072B $3.071B
YoY Change 0.11% 0.11%
Other Long-Term Liabilities $63.46M $66.65M
YoY Change -14.69% -12.5%
Total Long-Term Liabilities $3.858B $3.860B
YoY Change 0.64% 0.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $357.6M $332.7M
Total Long-Term Liabilities $3.858B $3.860B
Total Liabilities $4.216B $4.193B
YoY Change -0.3% -0.33%
SHAREHOLDERS EQUITY
Retained Earnings $8.063B $7.989B
YoY Change 4.65% 5.35%
Common Stock $396.9M $352.4M
YoY Change 12.63% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.961B $2.904B
YoY Change
Total Liabilities & Shareholders Equity $7.195B $7.115B
YoY Change 1.0% 2.15%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $96.18M $200.1M
YoY Change -34.15% 52.09%
Depreciation, Depletion And Amortization $15.08M $14.99M
YoY Change -0.89% -3.52%
Cash From Operating Activities $101.3M $137.1M
YoY Change -51.6% -29.74%
INVESTING ACTIVITIES
Capital Expenditures $14.90M $11.65M
YoY Change -219.84% -166.34%
Acquisitions
YoY Change
Other Investing Activities $27.70M -$139.0K
YoY Change 14478.95% -113.03%
Cash From Investing Activities $12.80M -$11.79M
YoY Change -204.55% -28.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.50M -319.1M
YoY Change 138.16% 1406.42%
NET CHANGE
Cash From Operating Activities 101.3M 137.1M
Cash From Investing Activities 12.80M -11.79M
Cash From Financing Activities -50.50M -319.1M
Net Change In Cash 63.60M -193.8M
YoY Change -63.84% -223.09%
FREE CASH FLOW
Cash From Operating Activities $101.3M $137.1M
Capital Expenditures $14.90M $11.65M
Free Cash Flow $86.40M $125.5M
YoY Change -61.04% -41.01%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
UseOfEstimates
The preparation of these condensed consolidated financial statements requires us to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. We use the best information available in developing significant estimates inherent in our financial statements. Actual results could differ from these estimates, and these differences resulting from changes in facts and circumstances could be material. Significant estimates include, but are not limited to, evaluation of goodwill and other intangible assets for impairment, fair value measurements, post-retirement benefit plans, income taxes including deferred taxes, and contingencies.
us-gaap Number Of Operating Segments
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tgna Number Of Television Stations
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tgna Number Of Radio Stations
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2 radiostation
CY2023Q2 tgna Numberof Markets In Which Entity Operates
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51 market
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CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
26911000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
5642000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
6227000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
3071026000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3069316000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
489400000 usd
CY2023Q2 tgna Debt Instrument Number Of Covenants
DebtInstrumentNumberOfCovenants
1 covenant
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
12266000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
8541000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
10470000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
9751000 usd
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-232000 usd
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-242000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3009000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-2302000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4573000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
850000 usd
CY2023Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-988000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
988000 usd
CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-806000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
806000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2066000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2066000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
77000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
13889000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13812000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-2777000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
18739000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
-711000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
4850000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2066000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
13889000 usd
us-gaap Profit Loss
ProfitLoss
304097000 usd
us-gaap Profit Loss
ProfitLoss
266227000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-311000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
424000 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
999000 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
212000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
131605000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
131605000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
303409000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
303409000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
265591000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
265591000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221168000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
223197000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221391000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
223867000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.19
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
3400000 usd

Files In Submission

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tgna-20230630.htm Edgar Link pending
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tgna-20230630_def.xml Edgar Link unprocessable
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tgna-20230630_pre.xml Edgar Link unprocessable
tgna-20230630_htm.xml Edgar Link completed