TEGNA INC. Files 10-Q for Period Ending March 31, 2024
Ticker: TGNA · Form: 10-Q · Filed: May 8, 2024 · CIK: 39899
Sentiment: neutral
Topics: TEGNA, 10-Q, Financial Report, Debt, Credit Agreement
TL;DR
<b>TEGNA INC. filed its Q1 2024 10-Q report detailing financial positions and debt instruments.</b>
AI Summary
TEGNA INC (TGNA) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. TEGNA INC. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to Pension Plans, Defined Benefit Members, and Accrued Liabilities as of March 31, 2024. Information on Treasury Stock, Common Stock, and Retained Earnings as of March 31, 2024, is present. The report details Senior Notes, including the 7.25% due September 2027 and 7.75% due June 2027, as of March 31, 2024. TEGNA INC. also reported on its Amended and Restated Competitive Advance and Revolving Credit Agreement as of January 25, 2024.
Why It Matters
For investors and stakeholders tracking TEGNA INC, this filing contains several important signals. The filing provides a snapshot of TEGNA's financial health and debt obligations as of the first quarter of 2024, crucial for investors assessing solvency and leverage. Details on credit agreements and specific note issuances offer insight into the company's financing strategies and upcoming debt maturities.
Risk Assessment
Risk Level: medium — TEGNA INC shows moderate risk based on this filing. The filing contains extensive financial data and debt instrument details, requiring careful analysis to fully understand the company's financial position and associated risks.
Analyst Insight
Investors should review the detailed debt schedules and credit facility terms to assess TEGNA's financial leverage and liquidity.
Key Numbers
- 2024-03-31 — Reporting Period End Date (10-Q Filing)
- 2024-05-08 — Filing Date (10-Q Filing)
- 1231 — Fiscal Year End (Company Data)
- 7.25% — Interest Rate (Senior Notes Due September 2027)
- 7.75% — Interest Rate (Senior Notes Due June 2027)
- 2027-09-01 — Maturity Date (7.25% Senior Notes)
- 2027-06-01 — Maturity Date (7.75% Senior Notes)
- 2026-03-01 — Maturity Date (4.75% Senior Notes)
Key Players & Entities
- TEGNA INC. (company) — Filer
- GANNETT CO INC /DE/ (company) — Former Company Name
- TELEVISION BROADCASTING STATIONS (industry) — Standard Industrial Classification
- 0000039899 (company) — Central Index Key
- 7038736600 (phone) — Business Phone
- UnsecuredFixedRateNotes7.25PercentDueSeptember2027 (debt) — Senior Notes
- UnsecuredFixedRateNotes7.75PercentDueJune2027 (debt) — Senior Notes
- AmendedAndRestatedCompetitiveAdvanceAndRevolvingCreditAgreement (credit_agreement) — Credit Facility
FAQ
When did TEGNA INC file this 10-Q?
TEGNA INC filed this Quarterly Report (10-Q) with the SEC on May 8, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by TEGNA INC (TGNA).
Where can I read the original 10-Q filing from TEGNA INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TEGNA INC.
What are the key takeaways from TEGNA INC's 10-Q?
TEGNA INC filed this 10-Q on May 8, 2024. Key takeaways: TEGNA INC. filed a 10-Q report for the period ending March 31, 2024.. The filing includes data related to Pension Plans, Defined Benefit Members, and Accrued Liabilities as of March 31, 2024.. Information on Treasury Stock, Common Stock, and Retained Earnings as of March 31, 2024, is present..
Is TEGNA INC a risky investment based on this filing?
Based on this 10-Q, TEGNA INC presents a moderate-risk profile. The filing contains extensive financial data and debt instrument details, requiring careful analysis to fully understand the company's financial position and associated risks.
What should investors do after reading TEGNA INC's 10-Q?
Investors should review the detailed debt schedules and credit facility terms to assess TEGNA's financial leverage and liquidity. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Filing Stats: 4,310 words · 17 min read · ~14 pages · Grade level 15.4 · Accepted 2024-05-08 16:09:06
Key Financial Figures
- $1 — hares of the registrant's Common Stock, $1 par value, outstanding as of April 30,
Filing Documents
- tgna-20240331.htm (10-Q) — 1636KB
- tgna-ex10_1.htm (EX-10.1) — 105KB
- tgna-ex10_2.htm (EX-10.2) — 104KB
- tgna-ex10_3.htm (EX-10.3) — 132KB
- tgna-ex10_4.htm (EX-10.4) — 133KB
- tgna-ex31_1.htm (EX-31.1) — 12KB
- tgna-ex31_2.htm (EX-31.2) — 12KB
- tgna-ex32_1.htm (EX-32.1) — 6KB
- tgna-ex32_2.htm (EX-32.2) — 5KB
- 0000950170-24-055643.txt ( ) — 6629KB
- tgna-20240331.xsd (EX-101.SCH) — 919KB
- tgna-20240331_htm.xml (XML) — 816KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Consolidated Statements of Income for the Quarters ended March 31, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the Quarters ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Consolidated Statements of Equity and Redeemable Noncontrolling Interest for the Quarters ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 26 4.
Controls and Procedures
Controls and Procedures 26
OTHER INFORMATION
PART II. OTHER INFORMATION 1.
Legal Proceedings
Legal Proceedings 26 1A.
Risk Factors
Risk Factors 27 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 3. Defaults Upon Senior Securities 27 4. Mine Safety Disclosures 27 5. Other Information 27 6. Exhibits 28 SIGNATURE 29 2
FINA NCIAL INFORMATION
PART I. FINA NCIAL INFORMATION
Fi nancial Statements
Item 1. Fi nancial Statements TEGNA Inc. CONDENSED CONSOLI DATED BALANCE SHEETS In thousands of dollars (Unaudited) Mar. 31, 2024 Dec. 31, 2023 ASSETS Current assets Cash and cash equivalents $ 430,764 $ 361,036 Accounts receivable, net of allowances of $ 2,535 and $ 2,845 , respectively 604,537 624,445 Other receivables 11,023 9,299 Syndicated programming rights 21,281 31,530 Prepaid expenses and other current assets 28,386 24,008 Total current assets 1,095,991 1,050,318 Property and equipment Cost 1,082,848 1,078,209 Less accumulated depreciation ( 640,149 ) ( 626,029 ) Net property and equipment 442,699 452,180 Intangible and other assets Goodwill 3,015,973 2,981,587 Indefinite-lived and amortizable intangible assets, less accumulated amortization of $ 257,433 and $ 289,949 , respectively 2,349,712 2,328,972 Right-of-use assets for operating leases 70,897 73,479 Investments and other assets 129,388 113,521 Total intangible and other assets 5,565,970 5,497,559 Total assets $ 7,104,660 $ 7,000,057 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 TEGNA Inc. CONDENSED CONSOLIDATED BALANCE SHEETS In thousands of dollars, except par value and share amounts (Unaudited) Mar. 31, 2024 Dec. 31, 2023 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND EQUITY Current liabilities Accounts payable $ 80,001 $ 114,950 Accrued liabilities Compensation 48,271 54,929 Interest 11,891 45,144 Contracts payable for programming rights 130,298 119,562 Other 97,064 82,782 Income taxes payable 66,453 6,005 Total current liabilities 433,978 423,372 Noncurrent liabilities Deferred income tax liability 578,244 578,219 Long-term debt 3,073,692 3,072,801 Pension liabilities 69,706 70,483 Operating lease liabilities 70,937 73,733 Other