TEGNA Inc. Files Q2 2024 10-Q Report
Ticker: TGNA · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 39899
Sentiment: neutral
Topics: 10-Q, financials, debt, reporting
Related Tickers: TGNA
TL;DR
**TEGNA Q2 10-Q FILED: Financials out, check debt & stock activity.**
AI Summary
TEGNA Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures relevant to investors are presented, including information on debt, treasury stock, and accumulated adjustments.
Why It Matters
This 10-Q filing provides crucial financial insights into TEGNA's performance for the second quarter of 2024, impacting investor decisions and market perception.
Risk Assessment
Risk Level: medium — The filing contains detailed financial information, including debt instruments and stock transactions, which are critical for assessing the company's financial health and associated risks.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)
- 2024-06-30 — End of Q2 2024 (Marks the conclusion of the reporting period for this 10-Q.)
- 2023-12-31 — End of Fiscal Year 2023 (Provides a comparative financial benchmark from the previous year.)
Key Players & Entities
- TEGNA INC (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period
- 20240807 (date) — Date of filing
- GANNETT CO INC /DE/ (company) — Former company name
- 4.625PercentDueMarch2028Member (dollar_amount) — Senior Notes with a specific interest rate and maturity date
- ClayMasseyAssociatesP.C.v.GrayTelevision (company) — Legal case context
FAQ
What was TEGNA's total revenue for the quarter ending June 30, 2024?
The provided text does not contain specific revenue figures for the quarter ending June 30, 2024.
What is the maturity date for the unsecured fixed-rate notes mentioned?
The unsecured fixed-rate notes mentioned have a maturity date of March 2028.
What was the company's fiscal year end date?
The company's fiscal year end date is December 31.
When was TEGNA Inc. previously known as GANNETT CO INC /DE/?
The date of the name change from GANNETT CO INC /DE/ to TEGNA INC was July 3, 1992.
Does the filing mention any specific legal proceedings?
Yes, the filing references a legal context involving 'Clay Massey Associates P.C. v. Gray Television'.
Filing Stats: 4,337 words · 17 min read · ~14 pages · Grade level 16.3 · Accepted 2024-08-07 16:25:44
Key Financial Figures
- $1 — hares of the registrant's Common Stock, $1 par value, outstanding as of July 31, 2
Filing Documents
- tgna-20240630.htm (10-Q) — 2327KB
- tgna-ex10_3.htm (EX-10.3) — 19KB
- tgna-ex31_1.htm (EX-31.1) — 13KB
- tgna-ex31_2.htm (EX-31.2) — 13KB
- tgna-ex32_1.htm (EX-32.1) — 6KB
- tgna-ex32_2.htm (EX-32.2) — 5KB
- 0000950170-24-092846.txt ( ) — 7386KB
- tgna-20240630.xsd (EX-101.SCH) — 932KB
- tgna-20240630_htm.xml (XML) — 1149KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Consolidated Statements of Income for the Quarters and Six Months Ended June 30, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the Quarters and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 Consolidated Statements of Equity and Redeemable Noncontrolling Interest for the Quarters and Six Months Ended June 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10 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 18 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 27 4.
Controls and Procedures
Controls and Procedures 27
OTHER INFORMATION
PART II. OTHER INFORMATION 1.
Legal Proceedings
Legal Proceedings 27 1A.
Risk Factors
Risk Factors 27 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 3. Defaults Upon Senior Securities 28 4. Mine Safety Disclosures 28 5. Other Information 28 6. Exhibits 29 SIGNATURE 30 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) June 30, 2024 Dec. 31, 2023 ASSETS Current assets Cash and cash equivalents $ 445,729 $ 361,036 Accounts receivable, net of allowances of $ 4,170 and $ 2,845 , respectively 605,226 624,445 Other receivables 10,812 9,299 Syndicated programming rights 10,969 31,530 Prepaid expenses and other current assets 26,277 24,008 Total current assets 1,099,013 1,050,318 Property and equipment Cost 1,079,620 1,078,209 Less accumulated depreciation ( 634,024 ) ( 626,029 ) Net property and equipment 445,596 452,180 Intangible and other assets Goodwill 3,015,973 2,981,587 Indefinite-lived and amortizable intangible assets, less accumulated amortization of $ 269,827 and $ 289,949 , respectively 2,336,049 2,328,972 Right-of-use assets for operating leases 68,084 73,479 Investments and other assets 124,616 113,521 Total intangible and other assets 5,544,722 5,497,559 Total assets $ 7,089,331 $ 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) June 30, 2024 Dec. 31, 2023 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND EQUITY Current liabilities Accounts payable $ 79,130 $ 114,950 Accrued liabilities Compensation 43,869 54,929 Interest 43,977 45,144 Contracts payable for programming rights 121,629 119,562 Other 93,394 82,782 Income taxes payable 43,778 6,005 Total current liabilities 425,777 423,372 Noncurrent liabilities Deferred income tax liability 577,334 578,219 Long-term debt 3,074,592 3,072,801 Pension liabilities 67,885 70,483 Operating lease liabilities 68,050 73,733 Other