The Company and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

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
	Ended March 31,
	2021		2020
Basic earnings per share:
Numerator:
Net income (loss) attributable to common stockholders	$	5,429	$	(35,592	)
Denominator:
Weighted average common shares outstanding		85,041,628		84,317,767
Per share:
Net income (loss) per share attributable to common stockholders	$	0.06	$	(0.42	)
Diluted earnings per share:
Numerator:
Net income (loss) attributable to common stockholders	$	5,429	$	(35,592	)
Denominator:
Weighted average common shares outstanding		85,041,628		84,317,767
Dilutive securities:
Stock options and restricted stock units		1,944,953		-
Diluted shares outstanding		86,986,581		84,317,767
Per share:
Net income (loss) per share attributable to common stockholders	$	0.06	$	(0.42	)

Carrying Amount of Intangible Assets Not Subject to Amortization

The carrying amount of intangible assets not subject to amortization for each of the Company’s operating segments for the three-month period ended March 31, 2021 is as follows (in thousands):

	December 31, 2020		Impairment			Transfer to Assets Held for Sale			March 31, 2021
Television	$	130,274	$	-		$	-		$	130,274
Radio		86,379		(1,326	)		(3,574	)		81,479
Digital	-			-			-		-
Consolidated	$	216,653	$	(1,326	)	$	(3,574	)	$	211,753

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):

	March 31, 2021
	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	$	72.4	$	-	$	72.4		$	-
Certificates of deposit	$	0.7	$	-	$	0.7		$	-
Corporate bonds	$	15.1	$	-	$		15.1	$	-
	December 31, 2020
	Total Fair Value
	and Carrying
	Value on Balance		Fair Value Measurement Category
	Sheet		Level 1		Level 2			Level 3
Assets:
Money market account	$	59.9	$	-	$	59.9		$	-
Certificates of deposit	$	2.8	$	-	$	2.8		$	-
Corporate bonds	$	25.2	$	-	$	25.2		$	-

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

As of March 31, 2021, 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	$	680	$	4	$	14,915	$	146
Due after one year through five years		-		-		-		-
Total	$	680	$	4	$	14,915	$	146

Summary of Components of AOCI

The following table provides a roll-forward of accumulated other comprehensive income (loss) for the three-month periods ended March 31, 2021 (in millions):

	Foreign Currency Translation			Marketable Securities			Total
Accumulated other comprehensive income (loss) as of December 31, 2020	$	(1.4	)	$	0.4		$	(1.0	)
Other comprehensive income (loss)		0.4			(0.1	)		0.3
Income tax (expense) benefit		-			-			-
Other comprehensive income (loss), net of tax		0.4			(0.1	)		0.3
Accumulated other comprehensive income (loss) as of March 31, 2021		(1.0	)		0.3			(0.7	)