EW SCRIPPS Co
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
SSP$3.69+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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6. Consolidated Statements of Operations
| For the years ended December 31, | |||
|---|---|---|---|
| (in thousands, except per share data) | 2023 | 2022 | 2021 |
| Operating Revenues: | |||
| Advertising | $1,477,999 | $1,757,389 | $1,614,814 |
| Distribution | 779,217 | 660,317 | 620,454 |
| Other | 35,696 | 35,509 | 48,264 |
| Total operating revenues | 2,292,912 | 2,453,215 | 2,283,532 |
| Operating Expenses: | |||
| Cost of revenues, excluding depreciation and amortization | 1,283,324 | 1,233,769 | 1,106,226 |
| Selling, general and administrative expenses, excluding depreciation and amortization | 614,769 | 623,161 | 595,105 |
| Acquisition and related integration costs | — | 1,642 | 40,373 |
| Restructuring costs | 38,612 | — | 9,436 |
| Depreciation | 60,725 | 61,943 | 58,357 |
| Amortization of intangible assets | 94,380 | 98,490 | 103,565 |
| Impairment of goodwill | 952,000 | — | — |
| Losses (gains), net on disposal of property and equipment | 2,344 | 5,866 | (30,275) |
| Total operating expenses | 3,046,154 | 2,024,871 | 1,882,787 |
| Operating income (loss) | (753,242) | 428,344 | 400,745 |
| Interest expense | (213,512) | (161,130) | (165,164) |
| Gain (loss) on extinguishment of debt | — | 8,589 | (15,347) |
| Defined benefit pension plan income (expense) | 650 | 2,613 | (343) |
| Gain on sale of Triton business | — | — | 81,784 |
| Losses on stock warrant | — | — | (99,118) |
| Miscellaneous, net | (1,407) | (1,953) | (15,469) |
| Income (loss) from continuing operations before income taxes | (967,511) | 276,463 | 187,088 |
| Provision (benefit) for income taxes | (19,727) | 80,561 | 71,189 |
| Income (loss) from continuing operations, net of tax | (947,784) | 195,902 | 115,899 |
| Income from discontinued operations, net of tax | — | — | 6,813 |
| Net income (loss) | (947,784) | 195,902 | 122,712 |
| Preferred stock dividends | (50,305) | (50,305) | (49,372) |
| Net income (loss) attributable to the shareholders of The E.W. Scripps Company | $(998,089) | $145,597 | $73,340 |
| Net income (loss) per basic share of common stock attributable to the shareholders of The E.W. Scripps Company: | |||
| Income (loss) from continuing operations | $(11.84) | $1.71 | $0.79 |
| Income from discontinued operations | — | — | 0.08 |
| Net income (loss) per basic share of common stock attributable to the shareholders of The E.W. Scripps Company | $(11.84) | $1.71 | $0.87 |
| Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company: | |||
| Income (loss) from continuing operations | $(11.84) | $1.62 | $0.74 |
| Income from discontinued operations | — | — | 0.08 |
| Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company | $(11.84) | $1.62 | $0.81 |
| Weighted average shares outstanding: | |||
| Basic | 84,266 | 83,220 | 82,327 |
| Diluted | 84,266 | 87,346 | 87,979 |
The sum of net income (loss) per share from continuing and discontinued operations may not equal the reported total net income (loss) per share as each is calculated independently.
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