Discontinued Operations (Tables) - Joplin, Missouri and Victoria, Texas Television Stations [Member]

12 Months Ended

Dec. 31, 2019

Disposal Groups, Including Discontinued Operations

The following table shows the components of the results from discontinued operations associated with the Television Sale as reflected in the Company’s Consolidated Statements of Operations (in thousands):

	Year Ended December 31,
	2019		2018		2017 (4)
Net operating revenue	$	—	$	—	$	14,238
Station operating expense (1)		—		—		9,757
Other operating (income) expense		—		—		31
Operating income		—		—		4,450
Interest expense (2)		—		—		21
Income before income taxes		—		—		4,429
Pretax gain on the disposal of discontinued operations		—		—		50,842
Total pretax gain on discontinued operations		—		—		55,271
Income tax expense (3)		—		—		22,800
Income from discontinued operations, net of tax	$	—	$	—	$	32,471

⁽¹⁾ No depreciation expense was recorded by the Company beginning May 9, 2017, the date the Television segment assets’ were held for sale.

⁽²⁾ Interest expense related to the Surtsey debt that is guaranteed by the Television stations. Our affiliate repaid this loan when the television stations were sold on September 1, 2017.

⁽³⁾ The effective tax rate on pretax income from discontinued operations was approximately 41%.

⁽⁴⁾ Results of operations for the Television stations are reflected through August 31, 2017. The effective date of the sale was September 1, 2017.

Disclosure of Condensed Consolidated Statements of Cash Flows

The following table represents the components of the results from discontinued operations associated with the Television Sale as reflected in the Company’s Consolidated Statements of Cash Flows (in thousands):

		December 31,		December 31,		December 31,
		2019		2018		2017
Cash paid during the period
Interest	$	—	$	—	$	21
Income taxes		—		—		23,260
Significant operating non-cash items
Depreciation and amortization (1)	$	—	$	—	$	445
Broadcast program rights amortization		—		—		418
Barter revenue, net		—		—		18
Acquisition of property and equipment		—		—		—
Loss (gain) on sale of assets		—		—		31
Pretax gain on television sale		—		—		50,842
Significant investing items
Acquisition of property and equipment	$	—	$	—	$	335
Proceeds from sale and disposal of assets		—		—		—
Net proceeds from sale of television stations (2)		—		—		69,528
Proceeds from insurance claim		—		—		—

⁽¹⁾ No depreciation expense was recorded by the Company beginning May 9, 2017, the date the Television segment assets’ were held for sale.

⁽²⁾ Net proceeds from the sale of the television stations reflect the sales price of $66.6 million, the sale of accounts receivable of approximately $3.4 million, offset by certain closing adjustments and transactional costs of approximately $500 thousand.