10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-015264`
Period End Date	20210930
Filing Date	20211109
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	sga-20210930x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 71 Cash Flow Statement 28 Stockholders Equity 39

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$15.73M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$15.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.99M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.27M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$895.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$82.07M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$142.68M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$144.00M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$87.80M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$90.55M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$54.88M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$53.45M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.21M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.28M	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`	$11.32M	USD	Point-in-time
Other intangibles, right of use assets, deferred costs and investments, net	`OtherAssetsNoncurrent`	$10.11M	USD	Point-in-time
Total assets	`Assets`	$246.49M	USD	Point-in-time
Total assets	`Assets`	$255.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$6.90M	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`	$5.03M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.27M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$795.00K	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$1.11M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$10.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.36M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.61M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$25.02M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$10.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.37M	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`	$57.75M	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`	$68.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$69.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$158.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$164.54M	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`	$191.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$188.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$197.36M	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`	$192.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$246.49M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$255.11M	USD	Point-in-time

Income Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$79.19M	USD	3 Qtrs
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$28.84M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$24.14M	USD	1 Quarter
Net operating revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$67.06M	USD	3 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$19.62M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$21.69M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$60.47M	USD	3 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$61.63M	USD	3 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.54M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$2.84M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$7.47M	USD	3 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$8.92M	USD	3 Qtrs
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$25.00K	USD	3 Qtrs
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$2.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$1.23M	USD	3 Qtrs
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$-50.00K	USD	1 Quarter
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	1 Quarter
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$5.15M	USD	3 Qtrs
Impairment of broadcast licenses	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$1.39M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$10.12M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$4.62M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-6.25M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$247.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$218.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$73.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$265.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$75.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$141.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$582.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$279.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$213.00K	USD	3 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.16M	USD	3 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.83M	USD	1 Quarter
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.49M	USD	3 Qtrs
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$180.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.13M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$3.03M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.98M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.46M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.18M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-950.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$1.25	USD	3 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.70	USD	3 Qtrs
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$-0.70	USD	3 Qtrs
Diluted earning per share	`EarningsPerShareDiluted`	$1.25	USD	3 Qtrs
Diluted earning per share	`EarningsPerShareDiluted`	$0.58	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.87M	shares	3 Qtrs
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.92M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.92M	shares	3 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
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.87M	shares	3 Qtrs
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.92M	shares	3 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	3 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.16	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	3 Qtrs

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.21M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.90M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.69M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.88M	USD	3 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$150.00K	USD	3 Qtrs
Acquisition of broadcast properties	`PaymentsToAcquireBroadcastProperties`	$190.00K	USD	3 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$138.00K	USD	3 Qtrs
Proceeds from sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$1.68M	USD	3 Qtrs
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$213.00K	USD	3 Qtrs
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$567.00K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-11.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-182.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.12M	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$956.00K	USD	3 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.72M	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForPurchaseOfTreasuryStock`	$63.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-956.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.78M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.25M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.83M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.28M	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`	$44.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.35M	USD	Point-in-time

Stockholders Equity 39 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$191.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$197.36M	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`	$192.35M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.46M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.68M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.18M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-4.91M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-950.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$956.00K	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`	$348.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$357.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$618.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$612.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$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
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$22.00K	USD	1 Quarter
Purchase of shares held in treasury	`TreasuryStockValueAcquiredCostMethod`	$21.00K	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`	$191.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$188.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$197.36M	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`	$192.35M	USD	Point-in-time

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