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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 577,658 $ 247,820
Restricted cash and cash equivalents 17,566 17,595
Accounts receivable (net of allowances of $12,504 and $5,543) 429,112 416,877
Broadcast rights 157,817 160,240
Income taxes receivable 9,056 42,683
Current assets held for sale 62,605 72,698
Prepaid expenses 35,862 57,235
Other 6,624 6,797
Total current assets 1,296,300 1,021,945
Properties    
Machinery, equipment and furniture 280,589 250,179
Buildings and leasehold improvements 154,557 209,608
Property, Plant and Equipment, Gross 435,146 459,787
Accumulated depreciation (187,148) (142,677)
Property, Plant and Equipment, Net 247,998 317,110
Land 214,730 268,257
Construction in progress 61,192 30,203
Net properties 523,920 615,570
Broadcast rights 153,457 203,422
Goodwill 3,227,930 3,228,224
Other intangible assets, net 1,819,134 1,990,002
Non-current assets held for sale 625,329 838,864
Investments 1,674,883 1,692,700
Other 80,098 118,136
Total other assets 7,580,831 8,071,348
Total Assets [1] 9,401,051 9,708,863
Current Liabilities    
Accounts payable 60,553 53,872
Debt due within one year (net of unamortized discounts and debt issuance costs of $7,917 and $7,979) 19,924 19,862 [2]
Income taxes payable 21,166 2,373
Employee compensation and benefits 77,123 73,003
Contracts payable for broadcast rights 241,255 236,676
Deferred revenue 13,690 14,749
Interest payable 30,305 33,828
Current liabilities held for sale 54,284 59,962
Other 32,553 46,475
Total current liabilities 550,853 540,800
Non-Current Liabilities    
Long-term debt (net of unamortized discounts and debt issuance costs of $38,830 and $48,809) 3,391,627 3,409,489 [2],[3]
Deferred income taxes 984,248 890,706
Contracts payable for broadcast rights 314,840 385,107
Contract intangible liability, net 12 13,772
Pension obligations, net 444,401 456,073
Postretirement medical, life and other benefits 11,385 13,250
Other obligations 62,688 68,321
Non-current liabilities held for sale 95,314 99,623
Total non-current liabilities 5,304,515 5,336,341
Total Liabilities [1] 5,855,368 5,877,141
Commitments and Contingencies
Stockholders' Equity    
Preferred stock ($0.001 par value per share) 0 0
Common Stock, Value, Issued 100 100
Treasury stock, at cost: 14,102,453 shares at December 31, 2016 and 7,670,216 shares at December 31, 2015 (632,207) (400,153)
Additional paid-in-capital 4,561,760 4,619,618
Retained deficit (308,105) (322,351)
Accumulated other comprehensive loss (81,782) (71,016)
Total Tribune Media Company shareholders’ equity 3,539,766 3,826,198
Noncontrolling interests 5,917 5,524
Total shareholders’ equity 3,545,683 3,831,722
Total Liabilities and Shareholders’ Equity 9,401,051 9,708,863
Common Class A    
Stockholders' Equity    
Common Stock, Value, Issued 100 100
Total shareholders’ equity 100 100
Common Class B    
Stockholders' Equity    
Common Stock, Value, Issued 0 0
Total shareholders’ equity $ 0 $ 0
[1] The Company’s consolidated total assets as of December 31, 2016 and December 31, 2015 include total assets of variable interest entities (“VIEs”) of $97 million and $108 million, respectively, which can only be used to settle the obligations of the VIEs. The Company’s consolidated total liabilities as of December 31, 2016 and December 31, 2015 include total liabilities of the VIEs of $3 million and $3 million, respectively, for which the creditors of the VIEs have no recourse to the Company (see Note 1).
[2] December 31, 2015 balances have been reclassified to present debt issuance costs as a direct deduction from the carrying amount of an associated debt liability in accordance with ASU 2015-03.
[3] (1) December 31, 2015 balances have been reclassified to present debt issuance costs as a direct deduction from the carrying amount of an associated debt liability in accordance with ASU 2015-03. See Note 1 for further information.