TEGNA INC (TGNA) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Total revenues [+]	3,279.2	2,991.1	2,937.8	2,299.5	2,207.3	1,903.0	2,004.1	1,764.8
Net interest income						1,903.0
Revenue growth	9.6%	1.8%	27.8%	4.2%	16.0%	-5.0%	13.6%	-32.8%
Cost of goods sold	1,693.2	1,598.8	1,503.3	1,228.2	1,065.9	933.7	795.5	728.1
Gross profit	1,586.0	1,392.3	1,434.5	1,071.3	1,141.3	969.3	1,208.6	1,036.7
Gross margin	48.4%	46.5%	48.8%	46.6%	51.7%	50.9%	60.3%	58.7%
Selling, general and administrative [+]	474.6	464.6	438.9	406.9	367.8	342.3	389.7	379.2
Sales and marketing	414.5	396.4	365.6	326.8	315.3	287.4	331.0	318.1
General and administrative	60.1	68.1	73.3	80.1	52.5	54.9	58.7	61.0
Other selling, general and administrative	414.5	396.4	365.6	326.8	315.3	287.4	331.0	318.1
Equity in earnings	-4.5	-9.7	10.4	10.1	13.8	10.4	-3.4	-2.8
Other operating expenses	-0.3	-2.3	-10.0	-5.3	-12.8	3.5	89.3	18.3
EBITDA [+]	1,107.2	920.4	1,015.9	679.8	800.2	693.7	930.7	898.6
EBITDA growth	20.3%	-9.4%	49.4%	-15.0%	15.4%	-25.5%	3.6%	-20.1%
EBITDA margin	33.8%	30.8%	34.6%	29.6%	36.3%	36.5%	46.4%	50.9%
Depreciation	61.2	64.8	66.9	60.5	55.9	74.6	89.5	141.0
EBITA	1,046.0	855.5	949.1	619.3	744.2	619.1	841.2	757.7
EBITA margin	31.9%	28.6%	32.3%	26.9%	33.7%	32.5%	42.0%	42.9%
Amortization of intangibles	59.9	63.0	67.7	50.1	30.8	61.9	115.0	121.3
EBIT [+]	986.2	792.5	881.4	569.2	713.4	557.2	726.2	636.4
EBIT growth	24.4%	-10.1%	54.9%	-20.2%	28.0%	-23.3%	14.1%	-25.9%
EBIT margin	30.1%	26.5%	30.0%	24.8%	32.3%	29.3%	36.2%	36.1%
Non-recurring items [+]					1.1	0.9	21.5	8.9
Asset impairment							21.5	8.9
Interest expense	174.0	185.7	210.3	205.5	192.1	210.3	232.0	273.2
Interest expense	174.0	185.7	210.3	205.5	192.1	210.3	232.0	273.2
Other income (expense), net [+]	223.8	142.3	120.3	12.0	-11.5	-35.3	-23.5	-8.7
Other	21.4	6.8	-34.0	12.0	-11.5	-35.3	-23.5	-8.7
Pre-tax income	1,035.9	749.2	791.3	375.7	508.7	310.7	449.3	345.7
Income taxes	202.4	135.5	154.3	89.4	107.4	-137.2	140.2	116.1
Tax rate	19.5%	18.1%	19.5%	23.8%	21.1%		31.2%	33.6%
Minority interest	-0.7	-1.2	0.0			-58.7	51.3	63.2
Earnings from continuing ops	834.3	614.9	637.0	286.2	401.3	954.6	257.8	166.4
Earnings from discontinued ops					4.3	-232.9	178.9	293.1
Net income	834.3	614.9	637.0	286.2	405.7	721.7	436.7	459.5
Net margin	25.4%	20.6%	21.7%	12.4%	18.4%	37.9%	21.8%	26.0%

Basic EPS [+]	$3.73	$2.78	$2.91	$1.32	$1.86	$4.43	$1.19	$0.74
Growth	34.4%	-4.5%	120.4%	-29.0%	-58.1%	271.6%	60.9%	-75.6%
Diluted EPS [+]	$3.72	$2.76	$2.90	$1.31	$1.85	$4.39	$1.17	$0.72
Growth	34.5%	-4.7%	120.8%	-29.1%	-57.8%	274.0%	62.0%	-75.6%

Dividends per share [+]	$0.38	$0.35	$0.28	$0.28	$0.28	$0.35	$0.56	$0.68
Growth	8.6%	25.0%	0.0%	0.0%	-20.0%	-37.5%	-17.6%	-15.0%

Shares outstanding (basic) [+]	223.7	221.5	219.2	217.1	216.2	215.6	216.4	224.7
Growth	1.0%	1.0%	1.0%	0.4%	0.3%	-0.4%	-3.7%	-0.7%
Shares outstanding (diluted) [+]	224.5	222.5	219.7	218.0	216.6	217.5	219.7	229.7
Growth	0.9%	1.2%	0.8%	0.6%	-0.4%	-1.0%	-4.4%	-0.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.