SEC Filings

10-Q
TEGNA INC filed this Form 10-Q on 11/08/2018
Entire Document
 



Reconciliations of certain line items impacted by special items to the most directly comparable financial measure calculated and presented in accordance with GAAP on our Consolidated Statements of Income follow (in thousands, except per share amounts):
 
 
 
 
Special Items
 
 
Quarter ended September 30, 2018
 
GAAP
measure
 
Operating asset impairment and other
 
Severance expense
 
Pension payment timing related charge
 
Special tax benefit
 
Non-GAAP measure
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of revenues, exclusive of depreciation
 
$
271,156

 
$

 
$
(931
)
 
$

 
$

 
$
270,225

Business units - Selling, general and administrative expenses, exclusive of depreciation
 
76,639

 

 
(875
)
 

 

 
75,764

Corporate - General and administrative expenses, exclusive of depreciation
 
17,593

 

 
(5,481
)
 

 

 
12,112

Asset impairment and other (gains)
 
(3,005
)
 
3,005

 

 

 

 

Operating expenses
 
384,692

 
3,005

 
(7,287
)
 

 

 
380,410

Operating income
 
154,284

 
(3,005
)
 
7,287

 

 

 
158,566

Other non-operating items
 
(214
)
 

 

 
1,198

 

 
984

Total non-operating expense
 
(47,669
)
 

 

 
1,198

 

 
(46,471
)
Income before income taxes
 
106,615

 
(3,005
)
 
7,287

 
1,198

 

 
112,095

Provision for income taxes
 
13,789

 
(800
)
 
1,714

 
301

 
9,657

 
24,661

Net income from continuing operations
 
92,826

 
(2,205
)
 
5,573

 
897

 
(9,657
)
 
87,434

Net income from continuing operations per share-diluted (a)
 
$
0.43

 
$
(0.01
)
 
$
0.03

 
$

 
$
(0.04
)
 
$
0.40

(a) Per share amounts do not sum due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Special Items
 
 
 
 
Quarter ended September 30, 2017
 
GAAP
measure
 
Operating asset impairment and other
 
Other non-operating items
 
Special tax benefit
 
Non-GAAP measure
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset impairment and other charges
 
$
7,553

 
$
(7,553
)
 
$

 
$

 
$

 

Operating expenses
 
347,403

 
(7,553
)
 

 

 
339,850

 

Operating income
 
116,861

 
7,553

 

 

 
124,414

 

Other non-operating items
 
(3,671
)
 

 
2,688

 

 
(983
)
 

Total non-operating expense
 
(54,660
)
 

 
2,688

 

 
(51,972
)
 

Income before income taxes
 
62,201

 
7,553

 
2,688

 

 
72,442

 

Provision for income taxes
 
11,447

 
2,780

 
629

 
8,086

 
22,942

 

Net income from continuing operations
 
50,754

 
4,773

 
2,059

 
(8,086
)
 
49,500

 

Net income from continuing operations per share-diluted (a)
 
$
0.23

 
$
0.02

 
$
0.01

 
$
(0.04
)
 
$
0.23

 
 
(a) Per share amounts do not sum due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 

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