XML 16 R5.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 1,294,249 $ 1,063,041
Restricted cash and cash equivalents 16,607 16,607
Accounts receivable (net of allowances of $4,718 and $4,461) 405,007 416,938
Broadcast rights 87,645 98,269
Income taxes receivable 17,625 23,922
Prepaid expenses 26,112 19,444
Other 7,559 7,509
Total current assets 1,854,804 1,645,730
Properties    
Property, plant and equipment 636,908 687,377
Accumulated depreciation (277,919) (266,078)
Net properties 358,989 421,299
Other Assets    
Broadcast rights 82,132 95,876
Operating lease right-of-use assets 151,485 0
Goodwill 3,228,436 3,228,601
Other intangible assets, net 1,405,559 1,442,456
Assets held for sale [1] 60,177 0
Investments 1,136,553 1,264,437
Other 141,999 152,992
Total other assets 6,206,341 6,184,362
Total Assets (1) [2] 8,420,134 8,251,391
Current Liabilities    
Accounts payable 43,605 44,897
Income taxes payable 101,856 9,973
Employee compensation and benefits 45,610 79,482
Contracts payable for broadcast rights 220,255 232,687
Deferred revenue 12,679 12,508
Interest payable 14,509 30,086
Operating lease liabilities (Note 3) 24,230 0
Other 40,093 42,160
Total current liabilities 502,837 451,793
Non-Current Liabilities    
Long-term debt (net of unamortized discounts and debt issuance costs of $27,726 and $29,434) 2,927,791 2,926,083
Deferred income taxes 515,764 573,924
Contracts payable for broadcast rights 201,525 233,275
Pension obligations, net 375,919 380,322
Postretirement, medical, life and other benefits 8,122 8,298
Operating lease liabilities 143,798 0
Other obligations 118,613 154,599
Total non-current liabilities 4,291,532 4,276,501
Total Liabilities (1) [2] 4,794,369 4,728,294
Commitments and Contingent Liabilities
Shareholders’ Equity    
Preferred stock 0 0
Common Stock 102 102
Treasury stock, at cost: 14,102,185 shares at March 31, 2019 and December 31, 2018 (632,194) (632,194)
Additional paid-in-capital 4,035,660 4,031,233
Retained earnings 327,401 223,734
Accumulated other comprehensive loss (110,579) (104,967)
Total Tribune Media Company shareholders’ equity 3,620,390 3,517,908
Noncontrolling interests 5,375 5,189
Total shareholders’ equity 3,625,765 3,523,097
Total Liabilities and Shareholders’ Equity 8,420,134 8,251,391
Class A Common Stock    
Shareholders’ Equity    
Common Stock 102 102
Total shareholders’ equity 102 102
Class B Common Stock    
Shareholders’ Equity    
Common Stock 0 0
Total shareholders’ equity $ 0 $ 0
[1] (2)See Note 2 for information regarding assets held for sale.
[2] (1) The Company’s consolidated total assets as of March 31, 2019 and December 31, 2018 include total assets of variable interest entities (“VIEs”) of $69 million and $73 million, respectively, which can only be used to settle the obligations of the VIEs. The Company’s consolidated total liabilities as of March 31, 2019 and December 31, 2018 include total liabilities of the VIEs of $27 million and $28 million, respectively, for which the creditors of the VIEs have no recourse to the Company (see Note 1).