TEGNA Inc. Files Q3 2024 10-Q with Financial Updates
Ticker: TGNA · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 39899
Sentiment: neutral
Topics: 10-Q, financials, credit-facility, equity
TL;DR
TEGNA's Q3 10-Q is in: credit lines updated, equity accounts detailed. All good.
AI Summary
TEGNA INC. filed its 10-Q for the period ending September 30, 2024. The filing details financial activities and includes information on their credit facilities, such as the Amended and Restated Competitive Advance and Revolving Credit Agreement dated January 25, 2024. It also reports on various equity accounts including common stock, additional paid-in capital, and retained earnings for the periods ending September 30, 2024, and December 31, 2023.
Why It Matters
This filing provides investors with a quarterly update on TEGNA's financial health and operational performance, including details on their credit agreements and equity structure.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Numbers
- Q3 2024 — Reporting Period (Covers the third quarter of 2024.)
- September 30, 2024 — As of Date (Financials are reported as of this date.)
Key Players & Entities
- TEGNA INC. (company) — Filer of the 10-Q
- September 30, 2024 (date) — End of reporting period
- January 25, 2024 (date) — Date of credit agreement amendment
- December 31, 2023 (date) — Prior period financial reporting
FAQ
What is the total value of TEGNA's revolving credit facility as of September 30, 2024?
The filing mentions the 'Amended and Restated Competitive Advance and Revolving Credit Agreement' dated January 25, 2024, but does not explicitly state the total facility amount in the provided snippet.
What were the changes in TEGNA's Additional Paid-In Capital during the third quarter of 2024?
The filing indicates that 'us-gaap:AdditionalPaidInCapitalMember' is reported for the period '2023-07-01' to '2023-09-30', but specific changes for Q3 2024 are not detailed in this snippet.
Has TEGNA repurchased any common stock during the period ending September 30, 2024?
The filing lists 'us-gaap:TreasuryStockCommonMember' for '2023-12-31', suggesting past treasury stock activity, but does not specify activity for the Q3 2024 period in this excerpt.
What is the fiscal year end for TEGNA INC.?
TEGNA INC.'s fiscal year ends on December 31.
What is TEGNA's primary industry classification?
TEGNA INC. is classified under 'TELEVISION BROADCASTING STATIONS [4833]'.
Filing Stats: 4,308 words · 17 min read · ~14 pages · Grade level 15.7 · Accepted 2024-11-07 16:04:17
Key Financial Figures
- $1 — hares of the registrant's Common Stock, $1 par value, outstanding as of October 31
Filing Documents
- tgna-20240930.htm (10-Q) — 2388KB
- tgna-ex31_1.htm (EX-31.1) — 13KB
- tgna-ex31_2.htm (EX-31.2) — 13KB
- tgna-ex32_1.htm (EX-32.1) — 7KB
- tgna-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-123259.txt ( ) — 7570KB
- tgna-20240930.xsd (EX-101.SCH) — 942KB
- tgna-20240930_htm.xml (XML) — 1160KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1.
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Consolidated Statements of Income for the Quarters and Nine Months Ended September 30, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the Quarters and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Consolidated Statements of Equity and Redeemable Noncontrolling Interest for the Quarters and Nine Months Ended September 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) Sept. 30, 2024 Dec. 31, 2023 ASSETS Current assets Cash and cash equivalents $ 536,253 $ 361,036 Accounts receivable, net of allowances of $ 3,500 and $ 2,845 , respectively 608,794 624,445 Other receivables 6,779 9,299 Syndicated programming rights 37,351 31,530 Prepaid expenses and other current assets 26,563 24,008 Total current assets 1,215,740 1,050,318 Property and equipment Cost 1,083,904 1,078,209 Less accumulated depreciation ( 640,774 ) ( 626,029 ) Net property and equipment 443,130 452,180 Intangible and other assets Goodwill 3,015,973 2,981,587 Indefinite-lived and amortizable intangible assets, less accumulated amortization of $ 273,787 and $ 289,949 , respectively 2,322,582 2,328,972 Right-of-use assets for operating leases 66,135 73,479 Investments and other assets 135,042 113,521 Total intangible and other assets 5,539,732 5,497,559 Total assets $ 7,198,602 $ 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) Sept. 30, 2024 Dec. 31, 2023 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND EQUITY Current liabilities Accounts payable $ 91,964 $ 114,950 Accrued liabilities Compensation 66,325 54,929 Interest 11,772 45,144 Contracts payable for programming rights 145,657 119,562 Other 95,992 82,782 Income taxes payable 55,000 6,005 Total current liabilities 466,710 423,372 Noncurrent liabilities Deferred income tax liability 576,440 578,219 Long-term debt 3,075,504 3,072,801 Pension liabilities 64,402 70,483 Operating lease liabilities 66,000 73,733 Othe