Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 44 $ 98
Trade accounts receivable (net of allowances of $13,479 in 2015 and $11,287 in 2016) 33,091 36,029
Other receivables (net of allowances of $217 in 2015 and $110 in 2016) 830 1,981
Inventories (net of reserves of $1,855 in 2015 and $2,161 in 2016) 903 893
Prepaid expenses 6,315 6,285
Deferred income taxes 9,813 9,813
Assets held for sale 1,000 1,700
Total current assets 51,996 56,799
Notes receivable (net of allowances of $528 in 2015 and $607 in 2016) 154 173
Property and equipment (net of accumulated depreciation of $162,382 in 2015 and $160,604 in 2016) 104,559 105,483
Broadcast licenses 393,566 393,031
Goodwill 24,793 24,563
Other indefinite-lived intangible assets 833 833
Amortizable intangible assets (net of accumulated amortization of $39,454 in 2015 and $41,785 in 2016) 13,220 11,481
Deferred financing costs 116 151
Other assets 3,104 2,500
Total assets 592,341 595,014
Current liabilities:    
Accounts payable 3,612 5,177
Accrued expenses 10,687 11,301
Accrued compensation and related expenses 8,272 8,297
Accrued interest 47 16
Current portion of deferred revenue 10,667 13,128
Income taxes payable 128 73
Current portion of long-term debt and capital lease obligations 4,439 5,662
Total current liabilities 37,852 43,654
Long-term debt and capital lease obligations, less unamortized discount and debt issuance costs, net of current portion 266,378 269,093
Fair value of interest rate swap 2,979 798
Deferred income taxes 59,258 57,082
Deferred revenue, less current portion 14,903 13,930
Other long-term liabilities 35 636
Total liabilities 381,405 385,193
Commitments and contingencies (Note 16)
Stockholders’ Equity:    
Additional paid-in capital 242,506 241,780
Accumulated earnings 2,156 1,768
Treasury stock, at cost (2,317,650 shares at December 31, 2015 and June 30, 2016) (34,006) (34,006)
Total stockholders’ equity 210,936 209,821
Total liabilities and stockholders’ equity 592,341 595,014
Common Class A [Member]    
Stockholders’ Equity:    
Common stock 224 223
Common Class B [Member]    
Stockholders’ Equity:    
Common stock $ 56 $ 56