10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-010956`
Period End Date	20210630
Filing Date	20210809
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	sga-20210630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 69 Cash Flow Statement 26 Stockholders Equity 29

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.38M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$15.21M	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`	$3.30M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$895.00K	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$79.11M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.68M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.81M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$89.22M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$87.80M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$53.59M	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`	$10.63M	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`	$246.49M	USD	Point-in-time
Total assets	`Assets`	$252.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.21M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$7.20M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$5.66M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$956.00K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.10M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.27M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.03M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$795.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.70M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.81M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.61M	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`	$6.79M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.29M	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`	$69.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$162.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$158.99M	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`	$188.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$194.52M	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`	$252.81M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$246.49M	USD	Point-in-time

Income Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$16.87M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$50.35M	USD	2 Qtrs
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$42.92M	USD	2 Qtrs
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$28.05M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$40.85M	USD	2 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$18.65M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$21.02M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$39.94M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$4.93M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$6.08M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$3.07M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$80.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$1.28M	USD	2 Qtrs
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$-46.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$23.00K	USD	2 Qtrs
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$3.76M	USD	2 Qtrs
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$3.76M	USD	1 Quarter
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$-6.49M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$4.62M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$-8.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.50M	USD	2 Qtrs
Interest expense	`InterestExpense`	$190.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$82.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$72.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$145.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$133.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$25.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$31.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$213.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$303.00K	USD	2 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.58M	USD	1 Quarter
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.72M	USD	1 Quarter
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.67M	USD	2 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.34M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-3.10M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.32M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-3.81M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.66M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.23M	USD	2 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.54	USD	2 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.67	USD	2 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.82	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$-0.54	USD	2 Qtrs
Diluted earning per share	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$0.67	USD	2 Qtrs
Diluted earning per share	`EarningsPerShareDiluted`	$-0.82	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.92M	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	2 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.92M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.92M	shares	2 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.92M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.16	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.16	USD	2 Qtrs

Cash Flow Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.20M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.32M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.38M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.46M	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$190.00K	USD	2 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$150.00K	USD	2 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$130.00K	USD	2 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$1.67M	USD	2 Qtrs
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$213.00K	USD	2 Qtrs
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$272.00K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-31.00K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.17M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$313.00K	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.72M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$41.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.76M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.88M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$8.03M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.35M	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`	$59.38M	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`	$51.35M	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`	$59.38M	USD	Point-in-time

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$194.52M	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 (loss)	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.23M	USD	2 Qtrs
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$1.92M	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$956.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$357.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$612.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$569.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$343.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$21.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$20.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$251.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$221.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$192.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$194.52M	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.