10-Q Filing

SAGA COMMUNICATIONS INC CIK: 886136 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-007615`
Period End Date	20220331
Filing Date	20220506
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	sga-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 24 Stockholders Equity 15

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.76M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.27M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.45M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.31M	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$971.00K	USD	Point-in-time
Barter transactions	`AccountsReceivableBilledForLongTermContractsOrPrograms`	$1.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.23M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$144.72M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$145.59M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$91.38M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$92.54M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$53.04M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$53.34M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.28M	USD	Point-in-time
Broadcast licenses, net	`IndefiniteLivedLicenseAgreements`	$90.28M	USD	Point-in-time
Goodwill	`Goodwill`	$19.21M	USD	Point-in-time
Goodwill	`Goodwill`	$19.21M	USD	Point-in-time
Other intangibles, right of use assets, deferred costs and investments, net	`OtherAssetsNoncurrent`	$10.31M	USD	Point-in-time
Other intangibles, right of use assets, deferred costs and investments, net	`OtherAssetsNoncurrent`	$10.65M	USD	Point-in-time
Total assets	`Assets`	$247.93M	USD	Point-in-time
Total assets	`Assets`	$245.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.35M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$6.20M	USD	Point-in-time
Accrued payroll and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$5.66M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$968.00K	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$3.99M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$5.76M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$6.02M	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$901.00K	USD	Point-in-time
Barter transactions	`ContractWithCustomerLiabilityCurrent`	$959.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.83M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.88M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$24.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.62M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.01M	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`	$70.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$70.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$164.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$164.25M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$36.96M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$37.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$197.74M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$190.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$196.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$191.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$245.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$247.93M	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`	$24.97M	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$20.57M	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`	$2.69M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$-57.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$5.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$883.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$32.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$73.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$272.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.09M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.68M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$330.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$480.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted earning per share	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.95M	shares	1 Quarter
Weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	5.91M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.95M	shares	1 Quarter
Weighted average common and common equivalent shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.91M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.16	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.35M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.30M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$534.00K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$923.00K	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 sale and disposal of assets	`ProceedsFromSaleOfProductiveAssets`	$7.00K	USD	1 Quarter
Proceeds from insurance claims	`ProceedsFromInsuranceSettlementInvestingActivities`	$272.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-921.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$3.99M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.99M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$387.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.96M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.15M	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`	$51.35M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$54.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.15M	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`	$51.35M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$54.76M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$197.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$190.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$196.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$191.86M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$758.00K	USD	1 Quarter
Dividends declared per common share	`DividendsCommonStockCash`	$968.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$343.00K	USD	1 Quarter
Compensation expense related to restricted stock awards	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$339.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$221.00K	USD	1 Quarter
401(k) plan contribution	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$248.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$197.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$190.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$196.92M	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.