SEC Filings

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


 
 
 
 
Special Items
 
 
Nine Months Ended September 30, 2018
 
GAAP
measure
 
Severance expense
 
Operating asset impairment and other
 
Pension payment timing related charges
 
Other non-operating items
 
Net gain on equity method investment
 
Special tax benefit
 
Non-GAAP measure
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of revenues, exclusive of depreciation
 
$
793,943

 
$
(931
)
 
$

 
$

 
$

 
$

 
$

 
$
793,012

 

Business units - Selling, general and administrative expenses, exclusive of depreciation
 
229,193

 
(875
)
 

 

 

 

 

 
228,318

 

Corporate - General and administrative expenses, exclusive of depreciation
 
41,522

 
(5,481
)
 

 

 

 

 

 
36,041

 

Asset impairment and other (gains)
 
(9,331
)
 

 
9,331

 

 

 

 

 

 

Operating expenses
 
1,119,712

 
(7,287
)
 
9,331

 

 

 

 

 
1,121,756

 

Operating income
 
445,434

 
7,287

 
(9,331
)
 

 

 

 

 
443,390

 

Equity income in unconsolidated investments, net
 
15,080

 

 

 

 

 
(16,758
)
 

 
(1,678
)
 

Other non-operating items
 
(13,005
)
 

 

 
7,498

 
15,184

 

 

 
9,677

 

Total non-operating expense
 
(142,980
)
 

 

 
7,498

 
15,184

 
(16,758
)
 

 
(137,056
)
 

Income before income taxes
 
302,454

 
7,287

 
(9,331
)
 
7,498

 
15,184

 
(16,758
)
 

 
306,334

 

Provision for income taxes
 
61,929

 
1,714

 
(798
)
 
1,909

 
2,178

 
(4,216
)
 
7,007

 
69,723

 

Net income from continuing operations
 
240,525

 
5,573

 
(8,533
)
 
5,589

 
13,006

 
(12,542
)
 
(7,007
)
 
236,611

 

Net income from continuing operations per share-diluted (a)
 
$
1.11

 
$
0.03

 
$
(0.04
)
 
$
0.03

 
$
0.06

 
$
(0.06
)
 
$
(0.03
)
 
$
1.09

 

(a) Per share amounts do not sum due to rounding.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Special Items
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2017
 
GAAP
measure
 
Severance expense
 
Operating asset impairment
 
Other non-operating items
 
Special tax benefit
 
Non-GAAP measure
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of revenues, exclusive of depreciation
 
$
696,565

 
$
(522
)
 
$

 
$

 
$

 
$
696,043

 


 
 
 
 
Business units - Selling, general and administrative expenses, exclusive of depreciation
 
214,645

 
(1,471
)
 

 

 

 
213,174

 


 
 
 
 
Corporate - General and administrative expenses, exclusive of depreciation
 
42,462

 
(1,060
)
 

 

 

 
41,402

 


 
 
 
 
Asset impairment and other charges
 
11,086

 

 
(11,086
)
 

 

 

 


 


 
 
Operating expenses
 
1,022,651

 
(3,053
)
 
(11,086
)
 

 

 
1,008,512

 


 


 
 
Operating income
 
390,052

 
3,053

 
11,086

 

 

 
404,191

 


 


 
 
Other non-operating items
 
(26,853
)
 

 

 
31,991

 

 
5,138

 


 


 
 
Total non-operating expense
 
(190,515
)
 

 

 
31,991

 

 
(158,524
)
 


 


 
 
Income before income taxes
 
199,537

 
3,053

 
11,086

 
31,991

 

 
245,667

 


 


 
 
Provision for income taxes
 
54,855

 
1,174

 
4,104

 
6,921

 
11,724

 
78,778

 


 


 
 
Net income from continuing operations
 
144,682

 
1,879

 
6,982

 
25,070

 
(11,724
)
 
166,889

 


 


 
 
Net income from continuing operations per share-diluted
 
$
0.66

 
$
0.01

 
$
0.03

 
$
0.12

 
$
(0.05
)
 
$
0.77

 
 
 


 
 

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