10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-006667`
Period End Date	20210331
Filing Date	20210510
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	sga-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 26 Stockholders Equity 16

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.67M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$15.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.75M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$895.00K	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.89M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.30M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.68M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$87.80M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$88.28M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$54.02M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$54.88M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.28M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.21M	USD	Point-in-time
Goodwill	`Goodwill`	$19.21M	USD	Point-in-time
Goodwill	`Goodwill`	$19.11M	USD	Point-in-time
Other intangibles, right of use assets, deferred costs and investments, net	`OtherAssetsNoncurrent`	$11.01M	USD	Point-in-time
Other intangibles, right of use assets, deferred costs and investments, net	`OtherAssetsNoncurrent`	$11.32M	USD	Point-in-time
Total assets	`Assets`	$247.41M	USD	Point-in-time
Total assets	`Assets`	$246.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.21M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$5.73M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$5.66M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.27M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$4.78M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$795.00K	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.93M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.61M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.64M	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`	$7.41M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.95M	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`	$69.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$158.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$159.75M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.42M	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`	$190.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$192.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$191.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$247.41M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$246.49M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$22.30M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$26.05M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$22.20M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$18.92M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.44M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$-57.00K	USD	1 Quarter
Other operating expense (income), net	`OtherOperatingIncomeExpenseNet`	$1.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.17M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$883.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$108.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$73.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$108.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$213.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$272.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.38M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.09M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$330.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$700.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.91M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.91M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.07M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.35M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.02M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$534.00K	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$190.00K	USD	1 Quarter
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$150.00K	USD	1 Quarter
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$22.00K	USD	1 Quarter
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$213.00K	USD	1 Quarter
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$272.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-8.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-990.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.80M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$20.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.82M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$2.26M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.96M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.31M	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`	$51.35M	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`	$56.31M	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`	$51.35M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$190.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$191.86M	USD	Point-in-time
Net income	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.92M	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$343.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$569.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$20.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$221.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$251.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$190.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$191.86M	USD	Point-in-time

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