← GRAY MEDIA, INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $62.3m $262.0m $210.8m $179.0m $410.0m $90.0m $455.0m ($76.0m) $375.0m ($85.0m)
Net Income (Loss) Available to Common Stockholders, Basic — — — $127.0m $358.0m $38.0m $403.0m ($128.0m) $323.0m ($137.0m)
Depreciation and amortization $45.9m $52.0m $53.9m $195.0m $201.0m $221.0m $336.0m $339.0m $269.0m $237.0m
Depreciation, Depletion and Amortization, Nonproduction — — — $195.0m $201.0m $221.0m $336.0m $339.0m $269.0m $237.0m
Amortization of Debt Issuance Costs $4.9m $4.6m $4.6m $12.0m $12.0m $12.0m $16.0m $13.0m $15.0m $16.0m
Amortization of Intangible Assets $16.6m $25.1m $20.6m $115.0m $105.0m $117.0m $207.0m $194.0m $125.0m $104.0m
Depreciation $45.9m $52.0m $53.9m $80.0m $96.0m $104.0m $129.0m $145.0m $144.0m $133.0m
Deferred Income Tax Expense (Benefit) $41.4m ($77.3m) $22.9m $55.0m $75.0m ($22.0m) ($20.0m) ($91.0m) ($9.0m) ($56.0m)
Share-based Payment Arrangement, Noncash Expense $5.1m $8.3m $6.7m $16.0m $16.0m $14.0m $22.0m $20.0m $22.0m $22.0m
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 — — — $0
Payment, Tax Withholding, Share-based Payment Arrangement — $1.8m $4.4m $4.0m $6.0m $7.0m $7.0m $5.0m $4.0m $5.0m
Share-based Payment Arrangement, Expense $5.1m $8.3m $6.7m $16.0m $16.0m $14.0m $22.0m $20.0m $22.0m $22.0m
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — — — — — $18.0m $29.0m $25.0m $20.0m
Goodwill and Intangible Asset Impairment — — — — — $0 $0 $43.0m $0 $30.0m
Impairment of Intangible Assets (Excluding Goodwill) $0 — — — — $0 $0 $43.0m $0 $30.0m
Impairment of Intangible Assets, Finite-lived — — — — $0 $0 $18.0m $29.0m $25.0m $28.0m
Gain (Loss) on Disposition of Property Plant Equipment — — — ($54.0m) ($29.0m) ($42.0m) $2.0m ($21.0m) ($20.0m) $6.0m
Gain (Loss) on Extinguishment of Debt ($32.0m) ($2.9m) $0 $0 ($12.0m) $0 $0 ($3.0m) $34.0m ($10.0m)
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property ($329k) $74.2m $16.4m $54.0m $29.0m ($42.0m) $2.0m $21.0m $20.0m $11.0m
Gain (Loss) on Disposition of Assets — — — $54.0m $29.0m ($42.0m) $2.0m ($21.0m) ($20.0m) $11.0m
Income Tax Expense (Benefit) $43.4m ($68.7m) $76.8m $76.0m $134.0m $78.0m $159.0m ($6.0m) $117.0m ($28.0m)
Operating Lease, Lease Income — — — — — — — — $37.0m $37.0m
Other Nonoperating Income (Expense) $775k $162k $5.5m $4.0m ($5.0m) ($8.0m) ($4.0m) $7.0m $117.0m ($1.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable — — — — $14.0m $30.0m $26.0m ($308.0m) ($5.0m) ($132.0m)
Increase (Decrease) in Accounts Payable $518k $2.1m $563k ($1.0m) ($1.0m) $22.0m ($5.0m) ($32.0m) $52.0m ($10.0m)
Increase (Decrease) in Other Operating Assets ($2.0m) ($806k) $2.9m $7.0m $36.0m ($10.0m) $0 ($7.0m) ($27.0m) $6.0m
Accounts Receivable, Credit Loss Expense (Reversal) $1.9m $2.4m $2.2m $11.0m $2.0m $4.0m $1.0m $21.0m $2.0m $8.0m
Asset Retirement Obligation, Accretion Expense $15k $71k $54k — — — — — — —
General and Administrative Expense $40.3m $31.5m $40.9m $104.0m $65.0m $159.0m — — — —
Goodwill $485.3m $611.1m $612.4m $1.4b $1.5b $2.6b $2.7b $2.6b $2.6b $2.6b
Operating Costs and Expenses $475.1m $557.1m $596.4m — — — — — — —
Operating Expenses $578.3m $591.5m $695.4m $1.6b $1.6b $2.0b $2.7b $2.9b $2.8b $2.7b
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — — — — — $4.0m
Net Cash Provided by (Used in) Operating Activities $206.6m $180.0m $323.3m $385.0m $652.0m $300.0m $829.0m $648.0m $751.0m $289.0m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $43.6m $34.5m $70.0m $110.0m $110.0m $207.0m $436.0m $348.0m $143.0m $108.0m
Payments to Acquire Businesses, Net of Cash Acquired $431.8m $416.0m $425k $2.8b $91.0m $3.8b $58.0m $6.0m $1.0m $0
Payments to Acquire Investments — — — — $48.0m $49.0m $16.0m $14.0m $7.0m $8.0m
Gain (Loss) on Sale of Investments — — — — — — — — $110.0m $5.0m
Payments for (Proceeds from) Other Investing Activities $18.1m ($9.7m) $161k $6.0m $0 $2.0m $4.0m $1.0m $1.0m $18.0m
Net Cash Provided by (Used in) Investing Activities ($479.3m) ($349.8m) ($47.4m) ($2.7b) ($211.0m) ($3.5b) ($503.0m) ($291.0m) ($28.0m) ($63.0m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $1.7b $641.4m $750.0m $1.4b $800.0m $2.8b $0 $300.0m $2.1b $2.1b
Repayments of Long-term Debt $1.1b $562.6m $40.2m $211.0m $525.0m $0 $315.0m $610.0m $2.5b $2.0b
Proceeds from Issuance of Common Stock $0 $238.9m — $0 — — — — — —
Payments for Repurchase of Common Stock — $4.0m $19.6m $32.0m $75.0m $30.0m $50.0m $0 $0 $33.0m
Payments of Ordinary Dividends, Common Stock $0 $0 — $0 $0 $31.0m $30.0m $30.0m $32.0m $33.0m
Payments of Dividends $0 $0 — — — $31.0m $30.0m $30.0m $32.0m $33.0m
Dividends Payable, Current — — — $13.0m $13.0m $13.0m $14.0m $14.0m $15.0m $16.0m
Net Cash Provided by (Used in) Financing Activities $500.6m $307.0m $680.6m $1.1b $120.0m $2.6b ($454.0m) ($397.0m) ($609.0m) $7.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $227.9m $137.2m $204.6m — $561.0m ($584.0m) ($128.0m) ($40.0m) $114.0m $233.0m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — $212.0m $179.0m $178.0m $339.0m $419.0m $394.0m $393.0m
Income Taxes Paid, Net $14.6m $2.0m $34.2m $23.0m $70.0m $149.0m $180.0m $50.0m $135.0m $38.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.