Company: SGA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001558370-25-007167
Chunk: 12

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. Summary of Significant Accounting PoliciesBasis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for annual financial statements.In our opinion, the accompanying financial statements include all adjustments of a normal, recurring nature considered necessary for a fair presentation of our financial position as of March 31, 2025 and the results of operations for the three months ended March 31, 2025 and 2024. Results of operations for three months ended March 31, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.We own or operate broadcast properties in 28 markets, including 82 FM and 31 AM radio stations and 79 metro signals.For further information, refer to the consolidated financial statements and footnotes thereto included in the Saga Communications, Inc. (the “Company”) annual report on Form 10-K for the year ended December 31, 2024.We have evaluated events and transactions occurring subsequent to the balance sheet date of March 31, 2025, for items that should potentially be recognized in these financial statements or discussed within the notes to these financial statements.   Earnings Per Share InformationEarnings per share is calculated using the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security. The Company has participating securities related to restricted stock units, granted under the Company’s Second Amended and Restated 2005 Incentive Compensation Plan and the Company’s 2023 Incentive Compensation Plan, that earn dividends on an equal basis with common shares. In applying the two-class method, earnings are allocated to both common shares and participating securities.