Company: EVC
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034661
Chunk: 227

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 227
---
 licenses 
         
        $
        27.6

        —

        —

        $
        27.6
         
        $
        (12.3
        )
       
       The Company recorded a goodwill impairment in the amount of $43.3 million for the year ended December 31, 2024. See Note 6.The Company’s money market account is comprised of cash and cash equivalents, which are recorded at their fair market value within Cash and cash equivalents in the Consolidated Balance Sheets. The Company’s available for sale debt securities are comprised of corporate bonds and notes, asset-backed securities, and U.S. Government securities. The majority of the carrying value of these securities held by the Company are investment grade. These securities are valued using quoted prices for similar attributes in active markets (Level 2). Since these investments are classified as available for sale, they are recorded at their fair market value within Marketable securities in the Consolidated Balance Sheets and their unrealized gains or losses are included in other comprehensive income. Realized gains and losses from the sale of available for sale securities are included in the Consolidated Statements of Operations and were determined on a specific identification basis. As of December 31, 2024, the following table summarizes the amortized cost and the unrealized (gains) losses of the available for sale securities (in thousands):

        Corporate Bonds and Notes

        Amortized Cost

        Unrealized gains (losses)

        Due within a year
         
        $
        900

        $
        (8
        )

        Due after one year

        3,812

        (10
        )

        Total
         
        $
        4,712

        $
        (18
        )
       
      The Company’s available for sale debt securities are considered for credit losses under the guidance of ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). As of December 31, 2024 and December 31, 2023, the Company determined that a credit loss allowance is not required.Included in interest income for the years ended December 31, 2024, 2023 and 2022 was interest income related to the Company’s available for sale securities of $0.3 million, $1.3 million and $2.1 million, respectively. The fair value of the contingent consideration is related to prior acquisitions. As of December 31, 2023, the contingent liability fair value was included in the