The Company and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Non-Vested Restricted Stock Units Granted

The following is a summary of non-vested restricted stock units granted (in thousands, except grant date fair value data):

	Nine-Month Period
	Ended September 30, 2019
	Number Granted		Weighted-Average Fair Value
Restricted stock units		178	$	3.14

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following table illustrates the reconciliation of the basic and diluted income (loss) per share computations required by Accounting Standards Codification (ASC) 260-10, “Earnings per Share” (in thousands, except share and per share data):

	Three-Month Period					Nine-Month Period
	Ended September 30,					Ended September 30,
	2019			2018		2019			2018
Basic earnings per share:
Numerator:
Net income (loss)	$	(12,217	)	$	2,215	$	(27,072	)	$	5,248
Denominator:
Weighted average common shares outstanding		84,765,694			88,852,342		85,404,250			89,371,750
Per share:
Net income (loss) per share	$	(0.14	)	$	0.02	$	(0.32	)	$	0.06
Diluted earnings per share:
Numerator:
Net income (loss)	$	(12,217	)	$	2,215	$	(27,072	)	$	5,248
Denominator:
Weighted average common shares outstanding		84,765,694			88,852,342		85,404,250			89,371,750
Dilutive securities:
Stock options and restricted stock units		-			1,270,083		-			1,202,913
Diluted shares outstanding		84,765,694			90,122,425		85,404,250			90,574,663
Per share:
Net income (loss) per share	$	(0.14	)	$	0.02	$	(0.32	)	$	0.06

Carrying Amount of Goodwill

The carrying amount of goodwill for each of the Company’s operating segments for the nine-months ended September 30, 2019 is as follows (in thousands):

	December 31, 2018		Currency			Impairment			September 30, 2019
Television	$	40,549		-			-		$	40,549
Radio		-		-			-			-
Digital		33,743		(67	)		(27,714	)		5,962
Consolidated	$	74,292	$	(67	)	$	(27,714	)	$	46,511

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis in the Unaudited Consolidated Balance Sheets (in millions):

	September 30, 2019
	Total Fair Value
	and Carrying
	Value on Balance		Fair Value Measurement Category
(in millions)	Sheet		Level 1		Level 2			Level 3
Assets:
Money market account	$	34.7	$	-	$	34.7		$	-
Certificates of deposit	$	6.8	$	-	$	6.8		$	-
Corporate bonds	$	100.6	$	-	$		100.6	$	-
Liabilities:
Contingent Consideration	$	5.7	$	-	$		-	$	5.7
	December 31, 2018
	Total Fair Value
	and Carrying
	Value on Balance		Fair Value Measurement Category
	Sheet		Level 1		Level 2			Level 3
Assets:
Money market account	$	34.6	$	-	$	34.6		$	-
Certificates of deposit	$	8.2	$	-	$	8.2		$	-
Corporate bonds	$	124.2	$	-	$	124.2		$	-
Liabilities:
Contingent Consideration	$	8.1	$	-	$	-		$	8.1

Summary of Amortized Cost and Unrealized (Gains) Losses of Available for Sale Securities

As of September 30, 2019, the following table summarizes the amortized cost and the unrealized (gains) losses of the available for sale securities (in thousands):

	Certificates of Deposit				Corporate Bonds
	Amortized Cost		Unrealized gains (losses)		Amortized Cost		Unrealized gains (losses)
Due within a year	$	3,766	$	15	$	45,000	$	168
Due after one year through five years		3,036		24		55,096		381
Total	$	6,802	$	39	$	100,096	$	549

Summary of Components of AOCI

Accumulated other comprehensive income (loss) includes foreign currency translation adjustments and changes in the fair value of available for sale securities.

The following table provides a roll-forward of accumulated other comprehensive income (loss) for the three- and nine-month periods ended September 30, 2019 (in millions):

	Foreign Currency Translation			Marketable Securities			Total
Accumulated other comprehensive income (loss) as of December 31, 2018	$	(0.4	)	$	(1.0	)	$	(1.4	)
Other comprehensive income (loss)		-			1.0			1.0
Income tax (expense) benefit		-			(0.2	)		(0.2	)
Other comprehensive income (loss), net of tax		-			0.8			0.8
Accumulated other comprehensive income (loss) as of March 31, 2019		(0.4	)		(0.2	)		(0.6	)
Other comprehensive income (loss)		(0.3	)		0.7			0.4
Income tax (expense) benefit		-			(0.2	)		(0.2	)
Other comprehensive income (loss), net of tax		(0.3	)		0.5			0.2
Accumulated other comprehensive income (loss) as of June 30, 2019		(0.7	)		0.3			(0.4	)
Other comprehensive income (loss)		(0.1	)		0.2			0.1
Income tax (expense) benefit		-			(0.1	)		(0.1	)
Other comprehensive income (loss), net of tax		(0.1	)		0.1			-
Accumulated other comprehensive income (loss) as of September 30, 2019	$	(0.8	)	$	0.4		$	(0.4	)