10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-009957`
Period End Date	20200630
Filing Date	20200810
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	sga-20200630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 78 Cash Flow Statement 38 Stockholders Equity 32

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.91M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.96M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$10.16M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.95M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.48M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.66M	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`	$63.68M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.26M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.40M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$83.69M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$85.40M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$56.86M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$58.71M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$91.60M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$95.31M	USD	Point-in-time
Goodwill	`Goodwill`	$18.96M	USD	Point-in-time
Goodwill	`Goodwill`	$19.11M	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`	$11.81M	USD	Point-in-time
Total assets	`Assets`	$243.05M	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`	$1.84M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.44M	USD	Point-in-time
Payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$6.47M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$1.80M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$4.83M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.00M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.56M	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`	$14.71M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$25.15M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$22.65M	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`	$7.10M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$54.46M	USD	Point-in-time
Total liabilities	`Liabilities`	$60.04M	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`	$67.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$66.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$157.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$162.82M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.36M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.02M	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`	$192.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$188.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$188.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$252.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$243.05M	USD	Point-in-time

Income Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$16.87M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$60.01M	USD	2 Qtrs
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$42.92M	USD	2 Qtrs
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$32.19M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$40.85M	USD	2 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$22.88M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$46.04M	USD	2 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$18.65M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$3.07M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.71M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$6.08M	USD	2 Qtrs
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$2.00K	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$1.28M	USD	2 Qtrs
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-1.00K	USD	2 Qtrs
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-46.00K	USD	1 Quarter
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	2 Qtrs
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$-3.76M	USD	1 Quarter
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$-3.76M	USD	2 Qtrs
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$8.57M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$6.61M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-6.49M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-8.66M	USD	1 Quarter
Interest expense	`InterestExpense`	$392.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$190.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$82.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$184.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$323.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$160.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$133.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$25.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$213.00K	USD	2 Qtrs
Income (loss) before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.34M	USD	2 Qtrs
Income (loss) before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.72M	USD	1 Quarter
Income (loss) before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.58M	USD	1 Quarter
Income (loss) before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.50M	USD	2 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-3.81M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-3.10M	USD	2 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$1.85M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$2.40M	USD	2 Qtrs
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$4.73M	USD	1 Quarter
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$-3.23M	USD	2 Qtrs
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$6.10M	USD	2 Qtrs
Income from continuing operations, net of tax	`IncomeLossFromContinuingOperations`	$-4.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-3.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.73M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.80	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.82	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$1.03	USD	2 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.54	USD	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	2 Qtrs
Diluted earning (loss) per share	`EarningsPerShareDiluted`	$1.03	USD	2 Qtrs
Diluted earning (loss) per share	`EarningsPerShareDiluted`	$-0.54	USD	2 Qtrs
Diluted earning (loss) per share	`EarningsPerShareDiluted`	$-0.82	USD	1 Quarter
Diluted earning (loss) per share	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.84M	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.84M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.84M	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.60	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-3.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.73M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.83M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.32M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.16M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.38M	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$763.00K	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$190.00K	USD	2 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$1.67M	USD	2 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	2 Qtrs
Proceeds from insurance claims	`ProceedsFromSalesOfAssetsInvestingActivities`	$213.00K	USD	2 Qtrs
Proceeds from insurance claims	`ProceedsFromSalesOfAssetsInvestingActivities`	-	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-263.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$313.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.66M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$5.06M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.72M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$10.00M	USD	2 Qtrs
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$41.00K	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$327.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.38M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.76M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.88M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.22M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.73M	USD	Point-in-time

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.10M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.23M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.73M	USD	1 Quarter
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	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
Dividends declared per common share	`DividendsCommonStockCash`	$1.78M	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$612.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$559.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$569.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$565.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$20.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$21.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$247.00K	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`	$185.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$185.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time

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