XML 18 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 380,567 $ 577,658
Restricted cash and cash equivalents 17,566 17,566
Accounts receivable (net of allowances of $17,320 and $12,504) 397,571 429,112
Broadcast rights 105,054 157,817
Income taxes receivable 15,515 9,056
Current assets of discontinued operations 0 62,605
Prepaid expenses 22,130 35,862
Other 7,724 6,624
Total current assets 946,127 1,296,300
Properties    
Property, plant and equipment 644,422 711,068
Accumulated depreciation (210,800) (187,148)
Net properties 433,622 523,920
Other Assets    
Broadcast rights 144,998 153,457
Goodwill 3,228,585 3,227,930
Other intangible assets, net 1,735,938 1,819,134
Non-current assets of discontinued operations 0 608,153
Assets held for sale [1] 54,282 17,176
Investments 1,423,182 1,674,883
Other 78,541 80,098
Total other assets 6,665,526 7,580,831
Total Assets (1) [2] 8,045,275 9,401,051
Current Liabilities    
Accounts payable 46,305 60,553
Debt due within one year (net of unamortized discounts and debt issuance costs of $3,786 and $7,917) 17,878 19,924
Income taxes payable 52,307 21,166
Employee compensation and benefits 68,276 77,123
Contracts payable for broadcast rights 207,895 241,255
Deferred revenue 11,633 13,690
Interest payable 30,042 30,305
Current liabilities of discontinued operations 0 54,284
Other 40,870 32,553
Total current liabilities 475,206 550,853
Non-Current Liabilities    
Long-term debt (net of unamortized discounts and debt issuance costs of $37,421 and $38,830) 3,010,784 3,391,627
Deferred income taxes 836,354 984,248
Contracts payable for broadcast rights 275,088 314,840
Pension obligations, net 434,273 444,401
Postretirement, medical, life and other benefits 10,657 11,385
Other obligations 79,833 62,700
Non-current liabilities of discontinued operations 0 95,314
Total non-current liabilities 4,646,989 5,304,515
Total Liabilities (1) [2] 5,122,195 5,855,368
Commitments and Contingent Liabilities
Shareholders’ Equity    
Preferred stock 0 0
Common Stock 101 100
Treasury stock, at cost: 14,102,185 shares at June 30, 2017 and 14,102,453 shares at December 31, 2016 (632,194) (632,207)
Additional paid-in-capital 4,044,480 4,561,760
Retained deficit (424,355) (308,105)
Accumulated other comprehensive loss (71,872) (81,782)
Total Tribune Media Company shareholders’ equity 2,916,160 3,539,766
Noncontrolling interest 6,920 5,917
Total shareholders’ equity 2,923,080 3,545,683
Total Liabilities and Shareholders’ Equity 8,045,275 9,401,051
Class A Common Stock    
Shareholders’ Equity    
Common Stock 101 100
Total shareholders’ equity 101 100
Class B Common Stock    
Shareholders’ Equity    
Common Stock 0 0
Total shareholders’ equity $ 0 $ 0
[1] (4)See Note 3 for information regarding real estate assets held for sale.
[2] (1) The Company’s consolidated total assets as of June 30, 2017 and December 31, 2016 include total assets of variable interest entities (“VIEs”) of $92 million and $97 million, respectively, which can only be used to settle the obligations of the VIEs. The Company’s consolidated total liabilities as of June 30, 2017 and December 31, 2016 include total liabilities of the VIEs of $2 million and $3 million, respectively, for which the creditors of the VIEs have no recourse to the Company (see Note 1).