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v3.19.3.a.u2

Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Fair values of the assets acquired and liabilities assumed | The following table summarizes the fair values of the Raycom, Cordillera and Nexstar-Tribune assets acquired and liabilities assumed at the closing dates. The allocation of purchase price for the Cordillera and Nexstar-Tribune acquisitions reflect preliminary fair values.
(in thousands) |  | Raycom |  | Cordillera |  | Nexstar- Tribune |  | Total
Accounts receivable |  | $ | — |  |  | $ | 26,264 |  |  | $ | — |  |  | $ | 26,264 |
Current portion of programming |  | — |  |  | — |  |  | 11,997 |  |  | 11,997 |
Other current assets |  | — |  |  | 986 |  |  | 3,541 |  |  | 4,527 |
Property and equipment |  | 11,721 |  |  | 53,734 |  |  | 61,864 |  |  | 127,319 |
Operating lease right-of-use assets |  | 296 |  |  | 4,667 |  |  | 82,447 |  |  | 87,410 |
Programming (less current portion) |  | — |  |  | — |  |  | 9,830 |  |  | 9,830 |
Goodwill |  | 18,349 |  |  | 252,920 |  |  | 164,457 |  |  | 435,726 |
Indefinite-lived intangible assets - FCC licenses |  | 6,800 |  |  | 26,700 |  |  | 176,000 |  |  | 209,500 |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Television network affiliation relationships |  | 17,400 |  |  | 169,400 |  |  | 181,000 |  |  | 367,800 |
Advertiser relationships |  | 700 |  |  | 5,900 |  |  | 7,100 |  |  | 13,700 |
Other intangible assets |  | — |  |  | 13,000 |  |  | — |  |  | 13,000 |
Accounts payable |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
Accrued expenses |  | — |  |  | (3,983 | ) |  | (1,820 | ) |  | (5,803 | )
Current portion of programming liabilities |  | — |  |  | — |  |  | (16,211 | ) |  | (16,211 | )
Other current liabilities |  | — |  |  | (280 | ) |  | (3,035 | ) |  | (3,315 | )
Programming liabilities |  | — |  |  | — |  |  | (15,079 | ) |  | (15,079 | )
Operating lease liabilities |  | (296 | ) |  | (4,387 | ) |  | (79,766 | ) |  | (84,449 | )
Net purchase price |  | $ | 54,970 |  |  | $ | 544,906 |  |  | $ | 582,325 |  |  | $ | 1,182,201 |
The following table summarizes the final fair values of the Katz assets acquired and liabilities assumed at the closing date.
(in thousands) |  |
Cash |  | $ | 21,372 |
Accounts receivable |  | 44,306 |
Current portion of programming |  | 36,218 |
Intangible assets |  | 32,300 |
Goodwill |  | 203,760 |
Programming (less current portion) |  | 52,908 |
Other assets |  | 11,356 |
Accounts payable and accrued liabilities |  | (29,339 | )
Current portion of programming liabilities |  | (32,877 | )
Programming liabilities |  | (37,692 | )
Net purchase price |  | $ | 302,312 |
The following table summarizes the final fair values of the Triton assets acquired and liabilities assumed at the closing date.
(in thousands) |  |
Cash |  | $ | 10,515 |
Accounts receivable |  | 8,879 |
Other current assets |  | 679 |
Property and equipment |  | 705 |
Goodwill |  | 80,656 |
Other intangible assets |  | 75,000 |
Accounts payable |  | (1,895 | )
Accrued expenses |  | (3,332 | )
Other current liabilities |  | (18 | )
Deferred tax liability |  | (10,976 | )
Total purchase price |  | $ | 160,213 |
Pro forma results of operations |
|  | For the years ended December 31,
(in thousands, except per share data) (unaudited) |  | 2019 |  | 2018
Operating revenues |  | $ | 1,644,930 |  |  | $ | 1,619,423 |
Income (loss) from continuing operations attributable to the shareholders of The E.W. Scripps Company |  | (35,122 | ) |  | 28,614 |
Income (loss) per share from continuing operations attributable to the shareholders of The E.W. Scripps Company |  |  |  |
Basic |  | $ | (0.43 | ) |  | $ | 0.35 |
Diluted |  | (0.43 | ) |  | 0.35 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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