10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-059523`
Period End Date	20200331
Filing Date	20200511
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	sga-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 35 Cash Flow Statement 31 Stockholders Equity 18

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.03M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.98M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.96M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.48M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.25M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.84M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.23M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.40M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$84.26M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$83.69M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$57.98M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$58.71M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$95.36M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$95.31M	USD	Point-in-time
Goodwill	`Goodwill`	$19.11M	USD	Point-in-time
Goodwill	`Goodwill`	$18.96M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$12.69M	USD	Point-in-time
Other intangibles, deferred costs and investments, net	`OtherAssetsNoncurrent`	$12.24M	USD	Point-in-time
Total assets	`Assets`	$251.52M	USD	Point-in-time
Total assets	`Assets`	$252.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.93M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$6.03M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.44M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$1.92M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$1.80M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.07M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.00M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.14M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.08M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$25.27M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$25.15M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$10.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$10.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.39M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$60.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.61M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$77.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$77.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$67.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$66.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$162.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$162.58M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.36M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$192.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$192.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$251.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$252.39M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$26.05M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$27.82M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$23.16M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$22.20M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.69M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-3.00K	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$1.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.97M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.17M	USD	1 Quarter
Interest expense	`InterestExpense`	$108.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$208.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$163.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$108.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$213.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.38M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.92M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$550.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$700.00K	USD	1 Quarter
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$1.37M	USD	1 Quarter
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$1.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,841.00	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,866.00	shares	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,841.00	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5,866.00	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,866.00	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,841.00	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Loss on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$1.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.30M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.07M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.02M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.21M	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$763.00K	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$190.00K	USD	1 Quarter
Proceeds from insurance claims	`ProceedsFromSalesOfAssetsInvestingActivities`	$213.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-249.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-8.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.73M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-990.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.80M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$5.06M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$20.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$80.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.14M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.82M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$2.26M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-5.56M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.03M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.78M	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.92M	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$569.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$559.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$20.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$80.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$262.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$251.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.