Cars.com (CARS) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	CARS
Entity Registrant Name	Cars.com Inc.
Entity Central Index Key	1,683,606
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		71,625,610

CONDENSED CONSOLIDATED AND COMB

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 27,428	$ 8,896
Accounts receivable, less allowance of $3,437 and $3,527, respectively	93,077	98,303
Prepaid expenses and other current assets	18,298	12,342
Total current assets	138,803	119,541
Property and equipment
Cost	61,783	37,190
Less accumulated depreciation	(20,908)	(16,729)
Net property and equipment	40,875	20,461
Intangible and other assets
Goodwill	788,107	788,107
Intangible assets, less accumulated amortization of $224,053 and $165,651, respectively	1,548,967	1,607,369
Investments and other assets	11,172	11,788
Total assets	2,527,924	2,547,266
Current liabilities
Accounts payable	6,787	7,844
Current portion of long-term debt	21,162
Accrued liabilities	69,137	64,140
Total current liabilities	97,086	71,984
Noncurrent liabilities
Deferred incentive plans	1,677	3,913
Unfavorable contracts liability	25,185	44,085
Long-term debt	597,468
Deferred tax liability	282,504	8,325
Other noncurrent liabilities	17,532	1,674
Total noncurrent liabilities	924,366	57,997
Total liabilities	1,021,452	129,981
Commitments and contingent liabilities
Stockholders' equity
TEGNA's investment, net		2,417,285
Common Stock at par, $0.01 par value; authorized 300,000,000 shares; issued and outstanding 71,625,405 shares at September 30, 2017; no shares authorized, issued and outstanding at December 31, 2016	716
Additional paid-in capital	1,480,932
Retained earnings	24,824
Total stockholders' equity	1,506,472	2,417,285
Total liabilities and stockholders' equity	$ 2,527,924	$ 2,547,266

CONDENSED CONSOLIDATED AND COM3

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Accounts receivables, less allowance	$ 3,437	$ 3,527
Intangible assets, less accumulated amortization	$ 224,053	$ 165,651
Common stock, per value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	0
Common stock, shares issued	71,625,405	0
Common stock, shares outstanding	71,625,405	0

CONSOLIDATED AND COMBINED STATE

CONSOLIDATED AND COMBINED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Retail		$ 118,825	$ 119,828	$ 346,780	$ 343,013
Wholesale	[1]	41,074	42,467	122,917	128,421
Total		159,899	162,295	469,697	471,434
Operating expenses:
Product support, technology and operations		36,598	32,469	106,479	98,381
Marketing and sales		50,733	48,670	160,246	160,275
General and administrative		11,606	7,738	42,305	23,277
Affiliate revenue share		2,121	2,162	6,837	6,264
Amortization of intangible assets		19,467	19,088	58,402	55,416
Total		120,525	110,127	374,269	343,613
Operating income		39,374	52,168	95,428	127,821
Nonoperating (expense) income:
Interest (expense) income, net		(5,431)	41	(7,160)	53
Other income, net		64	88	199	142
Total nonoperating (expense) income, net		(5,367)	129	(6,961)	195
Income before income taxes		34,007	52,297	88,467	128,016
Provision for income taxes		13,019	452	15,782	452
Net income		$ 20,988	$ 51,845	$ 72,685	$ 127,564
Earnings per share, basic		$ 0.29	$ 0.72	$ 1.01	$ 1.78
Weighted-average common shares outstanding, basic		71,699	71,588	71,693	71,588
Earnings per share, diluted		$ 0.29	$ 0.72	$ 1.01	$ 1.78
Weighted-average common shares outstanding, diluted		71,767	71,588	71,763	71,588
[1]	Wholesale revenue includes related party revenue generated from TEGNA, Inc., through the Separation date of May 31, 2017, of $0 million and $3.4 million during the three and nine months ended September 30, 2017, respectively, and $2.1 million and $6.3 million during the three and nine months ended September 30, 2016, respectively (See Note 13). The commercial agreement with TEGNA is still effective after the Separation.

CONSOLIDATED AND COMBINED STAT5

CONSOLIDATED AND COMBINED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Wholesale revenue from related party	$ 0	$ 2.1	$ 3.4	$ 6.3

CONDENSED CONSOLIDATED AND COM6

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 72,685	$ 127,564
Adjustments to reconcile net income to operating cash flows:
Depreciation and amortization	66,343	61,549
Amortization of unfavorable contracts liability	(18,900)	(18,900)
Write-off and loss on assets	1,446	111
Gain on trading securities related to deferred compensation	(199)	(143)
Provision for doubtful accounts receivable	2,561	2,177
Deferred income taxes	8,388	(34)
Share-based compensation	1,493
Amortization of debt issuance costs	463
Increase (decrease) in operating assets and liabilities	12,916	(31,888)
Net cash flow provided by operating activities	147,196	140,436
Cash flows from investing activities:
Purchase of property and equipment	(27,631)	(7,387)
Purchase of investments		(2,216)
Payment for acquisition, net of cash acquired		(114,945)
Proceeds from sale of property and equipment		15
Net cash used in investing activities	(27,631)	(124,533)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	675,000
Payments of debt issuance costs and other fees	(6,208)
Payments of long-term debt	(50,625)
Cash distribution to TEGNA related to Separation	(650,000)
Transactions with TEGNA, net	(69,200)	(11,283)
Net cash used in financing activities	(101,033)	(11,283)
Increase in cash and cash equivalents	18,532	4,620
Cash and cash equivalents at beginning of period	8,896	100
Cash and cash equivalents at end of period	27,428	4,720
Supplemental non-cash information:
Purchases of property and equipment in accrued liabilities and accounts payable	3,050	$ 50
Supplemental cash flow information:
Cash paid for income taxes, net of refunds	5,726
Cash paid for interest	$ 6,826

CONSOLIDATED AND COMBINED STAT7

CONSOLIDATED AND COMBINED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	TEGNA's Investment, net
Balance at Dec. 31, 2015	$ 2,304,519				$ 2,304,519
Net income	127,564				127,564
Transactions with TEGNA, net	(11,283)				(11,283)
Balance at Sep. 30, 2016	2,420,800				2,420,800
Balance at Dec. 31, 2016	$ 2,417,285				2,417,285
Balance, Shares at Dec. 31, 2016	0
Net income	$ 72,685			$ 24,824	47,861
Transactions with TEGNA, net	(69,200)				(69,200)
Cash distribution to TEGNA related to Separation	(650,000)				(650,000)
Deferred taxes related to Separation	(265,791)				(265,791)
Distribution by TEGNA		$ 716	$ 1,479,439		$ (1,480,155)
Distribution by TEGNA, Shares		71,588,000
Issuance of share-based compensation awards, Shares		37
Share-based compensation	1,493		1,493
Balance at Sep. 30, 2017	$ 1,506,472	$ 716	$ 1,480,932	$ 24,824
Balance, Shares at Sep. 30, 2017	71,625,405	71,625,000

Separation from TEGNA, Descript

Separation from TEGNA, Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Separation from TEGNA, description of business and basis of presentation	NOTE 1 Separation from TEGNA, description of business and basis of presentation Separation from TEGNA . On September 7, 2016, TEGNA Inc. (“TEGNA”), our former parent company, announced its plan to separate its digital automotive marketplace business, including Cars.com, LLC, the principal entity through which TEGNA’s digital automotive marketplace business has historically been operated, and DMR Holdings, Inc. (“DealerRater”), a leading automotive dealer review website, from its other digital businesses (the “Separation”). The Separation occurred on May 31, 2017 by means of a spin-off of a newly formed company named Cars.com Inc. (“Cars.com,” the “Company,” “our,” “us” or “we”), which now owns the digital automotive marketplace business. We filed a Registration Statement on Form 10 relating to the Separation with the U.S. Securities and Exchange Commission (the “SEC”) on May 5, 2017, that was declared effective by the SEC on May 15, 2017 (the “Registration Statement on Form 10”). On May 31, 2017, we made a $650 million cash transfer to TEGNA, and TEGNA completed the Separation through a pro rata distribution to its stockholders of all of the outstanding shares of our common stock. Our common stock began trading “regular way” on the New York Stock Exchange on June 1, 2017. Each holder of TEGNA common stock received one share of our common stock for every three shares of TEGNA common stock held on May 18, 2017, the record date for the distribution. TEGNA structured the distribution to be tax-free to its U.S. stockholders for U.S. federal income tax purposes. In connection with the Separation and prior to the distribution, we entered into various agreements to effect the Separation and provide a framework for our relationship with TEGNA after the Separation and distribution. These agreements include a separation and distribution agreement, a transition services agreement, a tax matters agreement and an employee matters agreement. These agreements provide for the allocation between Cars.com and TEGNA of the assets, employees, liabilities and obligations (including investments, property, employee benefits and tax-related assets and liabilities) of TEGNA and its subsidiaries attributable to periods prior to, at and after the Separation and govern the relationship between Cars.com and TEGNA subsequent to the completion of the Separation. A summary of these agreements can be found in our Registration Statement on Form 10. In connection with the Separation and distribution, on May 30, 2017, we adopted several compensation and benefit plans, including the Cars.com Inc. Omnibus Incentive Compensation Plan (the “Omnibus Plan”). A summary of each of these plans can be found in the Registration Statement on Form 10. At the time of the distribution, we issued equity awards under the Omnibus Plan as a result of the conversion of certain outstanding share-based awards previously granted by TEGNA into awards denominated in our shares in accordance with the terms of the separation and distribution agreement and the employee matters agreement we entered into with TEGNA. Description of business . Cars.com is a leading online destination that helps car shoppers and owners navigate every turn of car ownership. A pioneer in automotive classifieds, the Company has evolved into one of the largest digital automotive platforms, connecting consumers with local dealers across the country anytime, anywhere. Through trusted expert content, on-the-lot mobile app features, millions of new and used vehicle listings, a comprehensive set of research tools and the largest database of consumer reviews in the industry, Cars.com helps shoppers buy, sell and service their vehicles. Cars.com properties include DealerRater ®, Auto.com ™, PickupTrucks.com ™ and NewCars.com ®. The Company was founded in 1998 and is headquartered in Chicago, Illinois. Basis of Presentation . On August 1, 2016, TEGNA purchased 100% of DealerRater, a leading automotive dealer review website. DealerRater was included in the distribution to Cars.com as part of the Separation. The accompanying financial statements combine the activity for the acquired business from the date of acquisition and reflect the application of push down accounting. The accompanying interim financial statements are derived from the historical accounting records of TEGNA and present our financial position, results of operations and cash flows as of the periods presented as if we were a separate entity. These interim financial statements are presented in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial statements. Accordingly, the interim financial statements do not include all information and footnotes normally included in annual financial statements prepared in accordance with U.S. GAAP. Since TEGNA’s acquisition of Cars.com, LLC in 2014, Cars.com, LLC has primarily operated as a standalone entity within TEGNA’s broader corporate organization. The historical financial statements include allocations of certain TEGNA corporate expenses. Such costs primarily include insurance and other general corporate overhead expenses and were allocated based on either the actual costs incurred, or Cars.com, LLC’s headcount relative to TEGNA’s consolidated headcount. The historical allocated corporate costs, through the Separation, were $0 million and $2.5 million during the three and nine months ended September 30, 2017, respectively, and $0.3 million and $0.5 million during the three and nine months ended September 30, 2016, respectively. Our management believes that such allocations are reasonable. These allocated expenses relate to the various services that have historically been provided to Cars.com, LLC by TEGNA. However, such expenses may not be indicative of the actual level of expense that would have been incurred by Cars.com, LLC if it had operated as an independent, publicly-traded company prior to the Separation or the costs expected to be incurred in the future. All of our internal intercompany accounts have been eliminated. All significant intercompany transactions between either (i) us and TEGNA or (ii) us and TEGNA affiliates have been included within the financial statements and are considered to be effectively settled through equity contributions or distributions at the time the transactions were recorded. The accumulated net effect of intercompany transactions between either (i) us and TEGNA or (ii) us and TEGNA affiliates are included in “TEGNA’s investment, net.” The total net effect of these intercompany transactions is reflected in the Condensed Consolidated and Combined Statements of Cash Flows as financing activities. These interim financial statements should be read in conjunction with the audited annual financial statements, and notes thereto, as of and for the year ended December 31, 2016 included in our Registration Statement on Form 10. These interim financial statements follow the same accounting policies and methods in their application as the most recent audited financial statements. In the opinion of management, the interim financial statements reflect all adjustments (all of which are of a normal and recurring nature), which are necessary to present fairly the financial position, results of operations and cash flows for the interim periods.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 Summary of significant accounting policies See Note 2, “Summary of significant accounting policies” in Part I, Item 13 of our Registration Statement on Form 10 for a discussion of Cars.com’s significant accounting policies. Recent accounting pronouncements The Financial Accounting Standards Board (the “FASB”) amended the FASB Accounting Standards Codification and created a new Topic 606, Revenue from Contracts with Customers. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326). In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718).

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2017
Goodwill Other Intangible Assets And Liabilities Disclosure [Abstract]
Goodwill and Other Intangible Assets and Liabilities	NOTE 3 Goodwill and other intangible assets and liabilities The following table displays goodwill, indefinite-lived intangibles and amortizable intangible assets at September 30, 2017 and December 31, 2016 (in thousands): Gross Accumulated Amortization Net September 30, 2017 Goodwill $ 788,107 $ — $ 788,107 Indefinite-lived intangibles: Trade name 872,320 — 872,320 Amortizable intangible assets: Customer relationships 814,240 (189,090 ) 625,150 Acquired software 71,700 (31,069 ) 40,631 Trade name 9,800 (953 ) 8,847 Non-compete agreements 2,860 (1,716 ) 1,144 Content library 2,100 (1,225 ) 875 Total amortizable intangible assets 900,700 (224,053 ) 676,647 Total $ 2,561,127 $ (224,053 ) $ 2,337,074 December 31, 2016 Goodwill $ 788,107 $ — $ 788,107 Indefinite-lived intangibles: Trade name 872,320 — 872,320 Amortizable intangible assets: Customer relationships 814,240 (140,788 ) 673,452 Acquired software 71,700 (22,798 ) 48,902 Trade name 9,800 (340 ) 9,460 Non-compete agreements 2,860 (1,287 ) 1,573 Content library 2,100 (438 ) 1,662 Total amortizable intangible assets 900,700 (165,651 ) 735,049 Total $ 2,561,127 $ (165,651 ) $ 2,395,476 We also have an intangible liability related to unfavorable wholesale contracts that Cars.com, LLC entered into as part of the acquisition by TEGNA in October 2014. The unfavorable contracts liability at September 30, 2017 and December 31, 2016 was $50.4 million and $69.3 million, respectively. Liabilities that will be amortized in the next twelve months are recorded in accrued liabilities, with the remainder recorded in unfavorable contracts liability on the Condensed Consolidated and Combined Balance Sheets. Amortization of the liability is recognized as wholesale revenue on the Consolidated and Combined Statements of Income and was $6.3 million and $18.9 million in the three and nine months ended September 30, 2017 and 2016, respectively.

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Investments Debt And Equity Securities [Abstract]
Investments	NOTE 4 Investments We have a 21% ownership interest in RepairPal, Inc. (“RepairPal”), an online marketplace offering consumers a price estimator for car repairs and an ability to research repair shop reviews. We account for our investment under the cost method. While we believe that we have the ability to exercise significant influence, it has been determined that our investment is not substantially similar to common stock on the acquisition date because it has a substantive liquidation preference over RepairPal’s common stock. This factor precludes us from accounting for the investment under the equity method. In May 2016, we purchased $2.2 million of convertible debt issued by RepairPal. The debt accrues interest at an annual rate of 7% and matures in May 2018. The debt converts into shares of preferred stock upon the earlier of May 2018 or the date on which RepairPal raises proceeds of at least $5 million through a single or series of related transactions related to any sale of preferred stock. The aggregate carrying amount of the investment at September 30, 2017 and December 31, 2016 was $9.4 million and $9.3 million, respectively. We record these amounts in investments and other assets on the Condensed Consolidated and Combined Balance Sheets. No events or circumstances have occurred in the three and nine months ended September 30, 2017 that required us to estimate the fair value of the investment.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 5 Income taxes Prior to the Separation, Cars.com LLC was a multi-member LLC that is considered to be a partnership for U.S. income tax purposes. Multi-member LLCs are generally considered flow-through entities and therefore not subject to federal, state, or local income taxes. Effective with the Separation, the Company established a corporate legal entity structure that is subject to U.S. corporate income tax on a stand-alone basis post-Separation. Income tax expense was $13.0 million for the three months ended September 30, 2017, compared to income tax expense of $0.5 million for the same period of the prior year. The prior year income tax expense represents only two months of DealerRater activity as DealerRater was acquired on August 1, 2016. The effective income tax rate, expressed by calculating the income tax expense as a percentage of income before income taxes, was 38.3% for the three months ended September 30, 2017 and differed from the U.S. federal statutory rate primarily due to state income taxes. Income tax expense was $15.8 million for the nine months ended September 30, 2017, based upon four months of Cars.com, LLC information and nine months of DealerRater information, compared to income tax expense of $0.5 million for the same period of the prior year. The prior year income tax expense represents only two months of DealerRater activity as DealerRater was acquired on August 1, 2016. The effective income tax rate, expressed by calculating the income tax expense as a percentage of income before income taxes, was 17.8% for the nine months ended September 30, 2017 and differed from the U.S. federal statutory rate primarily due to pre-Separation income generated by a flow-through entity not subject to federal, state or local income taxes. With the implementation of the post-Separation legal entity structure, the Company was required to record deferred tax assets and liabilities for temporary differences between financial accounting and tax reporting. Accordingly, the Company recorded $267 million of net deferred tax liability associated with the outside basis difference in the Cars.com, LLC flow-through entity with the offset recorded in TEGNA’s investment net. Separately, the Company recorded $8 million of net deferred tax asset associated with the DealerRater corporate entity during 2017. To achieve a tax qualified Employee Share Purchase Program (“ESPP”), participating employees of Cars.com, LLC must be employed by an entity taxed as a C corporation. Consequently, in October 2017, Cars.com, LLC prospectively changed its corporate structure to convert from being taxed as a partnership to being taxed as a C corporation. As a result of the change in corporate structure, Cars.com, LLC was also required to change its reporting of deferred tax assets and liabilities. This reporting change results in a $69 million non-cash write-off of the deferred tax liability associated with non-deductible goodwill which Cars.com, LLC will record through a credit to income tax expense in the fourth quarter of 2017.

Long-term incentive plan

Long-term incentive plan	9 Months Ended
	Sep. 30, 2017
Compensation Related Costs [Abstract]
Long-term incentive plan	NOTE 6 Long-term incentive plan In June 2001, we established a long-term incentive plan (“LTIP”). Under the plan, at our discretion, we may designate employees to participate and may make annual contributions to the participants’ account. In the nine months ended September 30, 2017, we contributed $0.3 million. For full-year 2016, we contributed $0.6 million. The total amount contributed by us is marked to market quarterly and any unrealized gains (losses) are recognized in other income, net on the Consolidated and Combined Statements of Income. Management will not make any new contributions to the LTIP subsequent to the Separation. Under this plan, deferred compensation expense was not material in the three months ended September 30, 2017

Fair value measurement

Fair value measurement	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair value measurement	NOTE 7 Fair value measurement We measure and record certain assets at fair value in the accompanying financial statements. U.S. GAAP establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1— Quoted market prices in active markets for identical assets or liabilities; Level 2— Inputs other than Level 1 inputs that are either directly or indirectly observable; and Level 3— Unobservable inputs developed using our own estimates and assumptions, which reflect those that a market participant would use. Financial assets that are carried at fair value on a recurring basis in the balance sheet consist of marketable securities held as LTIP investments. The following table presents the LTIP investments carried at fair value as of September 30, 2017 and December 31, 2016, by category on the Condensed Consolidated and Combined Balance Sheets in accordance with the valuation hierarchy defined above (in thousands): Fair value measurement as of September 30, 2017 Level 1 Level 2 Level 3 Total Assets: Mutual funds $ 1,687 $ — $ — $ 1,687 Fixed income fund 606 Total investments at fair value $ 2,293 Fair value measurement as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets: Mutual funds $ 2,228 $ — $ — $ 2,228 Fixed income fund 1,031 Total investments at fair value $ 3,259 Fair value for mutual funds is measured using Level 1 inputs and quoted market prices at the reporting date multiplied by the quantity held. Our fixed income fund investment consists of a commingled fund for which quoted market prices are not available. The fair value of the investment represents the net asset value as provided by the trustee. In addition to the financial instruments listed in the table above, we hold other financial instruments, including cash and cash equivalents, receivables and accounts payable. The carrying amounts for these balances approximated their fair values. Certain assets and liabilities are measured at fair value on a nonrecurring basis, and therefore, not included in the tables above. These assets include goodwill and intangible assets and result as acquisitions occur. The amounts assigned to intangible assets and goodwill as they relate to our acquisitions are based on our best estimate of the fair value. We use an independent valuation specialist to assist in determining the fair value of the identified intangible assets at acquisition. The fair value of the significant identified intangible assets is generally estimated using a combination of an income approach using the discounted cash flow analysis and market approach using the guideline public company analysis, which represents a Level 3 fair value measurement. The income approach includes a forecast of direct revenues and costs associated with the respective intangible assets and charges for economic returns on tangible and intangible assets utilized in cash flow generation. The market approach also uses forecasted revenue and earnings, as well as comparable public company trading values. Net cash flows attributable to the identified intangible assets are discounted to their present value at a rate commensurate with the perceived risk.

Share appreciation rights plan

Share appreciation rights plan	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share appreciation rights plan	NOTE 8 Share appreciation rights plan Effective as of January 1, 2012, we established a Share Appreciation Rights Plan (the "SAR Plan"). Eligible participants received a number of stock appreciation rights annually that entitle the employee to receive the appreciation in the fair market value of a share from the date of grant up to a specified date or dates plus an amount equal to the distributions per share. Awards granted in a given year vest to the participant over a three-year period. Benefits paid under the SAR Plan were made in cash, not common stock, at the end of the three-year vesting period from the original grant date. Expense related to the SAR Plan has been recorded in accordance with the accounting standards for share-based payments. Due to the cash settlement at the end of the performance period, the awards were classified as a liability and remeasured each reporting period at fair value. Cars.com recorded a liability of $1.1 million and $10.8 million related to its SAR Plan on its Condensed Consolidated and Combined Balance Sheets at September 30, 2017 and December 31, 2016, respectively. No stock appreciation rights were granted to employees during the three and nine months ended September 30, 2017. Management does not expect to issue any new grants subsequent to the Separation.

Commitments, contingent liabili

Commitments, contingent liabilities and other matters	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments, contingent liabilities and other matters	NOTE 9 Commitments, contingent liabilities and other matters Commitments In May 2016, we entered into a new lease of office space in Chicago, Illinois. The lease extends through June 2031 and monthly rental payments under the lease escalate by 2.5% each year throughout the lease. Total minimum payments throughout the remaining life of the lease are $56.8 million. Litigation We and our subsidiaries are parties from time to time in legal and administrative proceedings involving matters incidental to our business. These matters, whether pending, threatened or unasserted, if decided adversely to Cars.com or settled, may result in liabilities material to our consolidated financial position, results of operation or cash flows. We record a liability when we believe that it is both probable that a loss will be incurred and the amount of loss can be reasonably estimated. We evaluate, at least quarterly, developments in its legal matters that could affect the amount of liability that has been previously accrued, and make adjustments as appropriate. Significant judgment is required to determine both the probability and the estimated amount.

Debt - term loan and revolving

Debt - term loan and revolving credit facility	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt - term loan and revolving credit facility	NOTE 10 Debt – term loan and revolving credit facility On May 31, 2017, we and certain of our domestic wholly-owned subsidiaries (the “Guarantors”) entered into a Credit Agreement (the “Credit Agreement”) with the lenders named therein. The Credit Agreement matures on May 31, 2022 and includes (a) revolving loan commitments in an aggregate principal amount of up to $450 million (of which up to $25 million may be in the form of letters of credit at our request) and (b) term loans in an aggregate principal amount of $450 million. Interest on the borrowings under the Credit Agreement is payable based on the London Interbank Offered Rate or the alternate base rate, as defined in the Credit Agreement, in either case plus an applicable margin and fees which, after the second full fiscal quarter following the closing date, is based upon our total net leverage ratio. On May 31, 2017, we borrowed $675 million to fund a $650 million cash payment to TEGNA immediately prior to the distribution, to pay fees and expenses related to the Separation and to fund working capital. The term loan requires quarterly amortization payments which commenced on September 30, 2017. In the third quarter of 2017, we made $5.6 million of term loan quarterly amortization payments and voluntarily paid down $45 million on the revolving loan. As of September 30, 2017, the Company had $624.4 million of debt outstanding and $270 million available under the revolving loan. Debt issuance costs were $5.7 million at September 30, 2017 and are being amortized over the term of the Credit Agreement. On October 31, 2017, we voluntarily paid down an additional $25 million on the revolving loan. The obligations under the Credit Agreement are guaranteed by the Guarantors and the Company and the Guarantors secured their respective obligations under the Credit Agreement by granting liens in favor of the agent on substantially all of their assets. The terms of the Credit Agreement include representations and warranties, affirmative and negative covenants (including certain financial covenants) and events of default that are customary for credit facilities of this nature. A summary of the Credit Agreement can be found in our Registration Statement on Form 10.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings per share	NOTE 11 Earnings per share Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under equity-based compensation plans unless the inclusion of such shares would have an anti-dilutive impact. The total shares outstanding on May 31, 2017, the date of Separation, was 71.6 million. The total number of shares outstanding at that date is being utilized for the calculation of both basic and diluted earnings per share for the three and nine months ended September 30, 2016, as no equity-based awards were outstanding prior to the Separation date. The computations of our basic and diluted earnings per share are set forth below (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income $ 20,988 $ 51,845 $ 72,685 $ 127,564 Basic weighted-average shares outstanding 71,699 71,588 71,693 71,588 Effect of dilutive share-based compensation awards 68 — 70 — Diluted weighted-average shares outstanding 71,767 71,588 71,763 71,588 Earnings per share, basic $ 0.29 $ 0.72 $ 1.01 $ 1.78 Earnings per share, diluted $ 0.29 $ 0.72 $ 1.01 $ 1.78

Share-based Compensation Plans

Share-based Compensation Plans	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation plans	NOTE 12 Share-based compensation plans In May 2017, the Cars.com Board of Directors approved the Omnibus Plan. The Omnibus Plan provides for the granting of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares and other equity-based and cash based awards of Cars.com. Prior to the Separation and distribution from TEGNA, certain Cars.com employees received TEGNA RSUs based on TEGNA common stock. Due to the spin-off from TEGNA, all outstanding TEGNA RSUs granted in 2016 or later held by certain Cars.com employees following the Separation or certain former employees of the Cars.com business, were converted into an award denominated in shares of Cars.com common stock, with the number of shares subject to the award adjusted in a manner intended to preserve the aggregate intrinsic value of the original TEGNA RSUs award as measured immediately before and immediately after the Separation. The Company granted approximately 13,000 and 265,000 RSUs during the three and nine months ended September 30, 2017, respectively, at a weighted-average share price of $26.55 and $25.85, respectively. The table below presents information related to share-based compensation (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Share-based compensation expense $ 1,012 $ — $ 1,493 $ — September 30, 2017 December 31, 2016 Unrecognized share-based compensation $ 11,054 $ — The unrecognized share-based compensation is expected to be recognized over a weighted-average period of 3.1 years.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related party transactions	NOTE 13 Related party transactions We are party to a commercial agreement with TEGNA, who was considered a related party through the Separation date of May 31, 2017. Related party revenue earned from this agreement was $0 million and $3.4 million for the three and nine months ended September 30, 2017, respectively, and $2.1 million and $6.3 million for the three and nine months ended September 30, 2016, respectively. The commercial agreement with TEGNA is still effective after the Separation. Prior to the Separation and distribution, TEGNA utilized a centralized approach to cash management and the financing of its operations, providing funds to its subsidiaries as needed. These transactions were recorded in “TEGNA’s investment, net” when advanced. Accordingly, none of TEGNA’s cash and cash equivalents were assigned to us in TEGNA’s financial statements. Cash and cash equivalents in our Condensed Consolidated and Combined Balance Sheets represent cash held locally by us. Equity in the Condensed Consolidated and Combined Balance Sheets represents the accumulated balance of transactions between us and TEGNA, our paid-in-capital, and TEGNA’s interest in our cumulative retained earnings, and are presented within “TEGNA’s investment, net.” The amounts comprising the accumulated balance of transactions between us and TEGNA and TEGNA affiliates include (i) the cumulative net assets attributed to us by TEGNA and TEGNA affiliates and (ii) the cumulative net advances to TEGNA representing our cumulative funds swept (net of funding provided by TEGNA and TEGNA affiliates to us) as part of the centralized cash management program. See Note 1 of this report for additional information.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
New accounting pronouncements not yet adopted	Recent accounting pronouncements The Financial Accounting Standards Board (the “FASB”) amended the FASB Accounting Standards Codification and created a new Topic 606, Revenue from Contracts with Customers. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326). In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718).

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Goodwill, Indefinite-Lived Intangibles and Amortizable Intangible Assets	The following table displays goodwill, indefinite-lived intangibles and amortizable intangible assets at September 30, 2017 and December 31, 2016 (in thousands): Gross Accumulated Amortization Net September 30, 2017 Goodwill $ 788,107 $ — $ 788,107 Indefinite-lived intangibles: Trade name 872,320 — 872,320 Amortizable intangible assets: Customer relationships 814,240 (189,090 ) 625,150 Acquired software 71,700 (31,069 ) 40,631 Trade name 9,800 (953 ) 8,847 Non-compete agreements 2,860 (1,716 ) 1,144 Content library 2,100 (1,225 ) 875 Total amortizable intangible assets 900,700 (224,053 ) 676,647 Total $ 2,561,127 $ (224,053 ) $ 2,337,074 December 31, 2016 Goodwill $ 788,107 $ — $ 788,107 Indefinite-lived intangibles: Trade name 872,320 — 872,320 Amortizable intangible assets: Customer relationships 814,240 (140,788 ) 673,452 Acquired software 71,700 (22,798 ) 48,902 Trade name 9,800 (340 ) 9,460 Non-compete agreements 2,860 (1,287 ) 1,573 Content library 2,100 (438 ) 1,662 Total amortizable intangible assets 900,700 (165,651 ) 735,049 Total $ 2,561,127 $ (165,651 ) $ 2,395,476

Fair value measurement (Tables)

Fair value measurement (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
LTIP Investments Carried at Fair Value by Category on Condensed Consolidated and Combined Balance Sheets in Accordance with Valuation Hierarchy	The following table presents the LTIP investments carried at fair value as of September 30, 2017 and December 31, 2016, by category on the Condensed Consolidated and Combined Balance Sheets in accordance with the valuation hierarchy defined above (in thousands): Fair value measurement as of September 30, 2017 Level 1 Level 2 Level 3 Total Assets: Mutual funds $ 1,687 $ — $ — $ 1,687 Fixed income fund 606 Total investments at fair value $ 2,293 Fair value measurement as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets: Mutual funds $ 2,228 $ — $ — $ 2,228 Fixed income fund 1,031 Total investments at fair value $ 3,259

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The computations of our basic and diluted earnings per share are set forth below (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income $ 20,988 $ 51,845 $ 72,685 $ 127,564 Basic weighted-average shares outstanding 71,699 71,588 71,693 71,588 Effect of dilutive share-based compensation awards 68 — 70 — Diluted weighted-average shares outstanding 71,767 71,588 71,763 71,588 Earnings per share, basic $ 0.29 $ 0.72 $ 1.01 $ 1.78 Earnings per share, diluted $ 0.29 $ 0.72 $ 1.01 $ 1.78

Share-based Compensation Plans

Share-based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Share-based Compensation	The table below presents information related to share-based compensation (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Share-based compensation expense $ 1,012 $ — $ 1,493 $ — September 30, 2017 December 31, 2016 Unrecognized share-based compensation $ 11,054 $ —

Separation from TEGNA, Descri26

Separation from TEGNA, Description of Business and Basis of Presentation - Additional Information (Details) $ in Millions	May 31, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Aug. 01, 2016
Separation. Description of Business and Basis of Presentation [Line Items]
Historical allocated corporate costs		$ 0	$ 0.3	$ 2.5	$ 0.5
Spinoff
Separation. Description of Business and Basis of Presentation [Line Items]
Cash transfer made to parent company	$ 650
TEGNA Inc
Separation. Description of Business and Basis of Presentation [Line Items]
Stock holder of Parent common stock received ratio	0.3333
TEGNA Inc | DealerRater
Separation. Description of Business and Basis of Presentation [Line Items]
Percentage of ownership interest acquired						100.00%
TEGNA Inc | Spinoff
Separation. Description of Business and Basis of Presentation [Line Items]
Date of separation	May 31, 2017

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets and Liabilities - Summary of Goodwill, Indefinite-Lived Intangibles and Amortizable Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible Assets By Major Class [Line Items]
Goodwill, Gross	$ 788,107	$ 788,107
Goodwill, Net	788,107	788,107
Total Amortizable intangible assets, Gross	900,700	900,700
Total Amortizable intangible assets, Accumulated Amortization	(224,053)	(165,651)
Total Amortizable intangible assets, Net	676,647	735,049
Intangible assets including goodwill, Gross	2,561,127	2,561,127
Intangible assets including goodwill, Accumulated Amortization	(224,053)	(165,651)
Intangible assets including goodwill, Net	2,337,074	2,395,476
Customer Relationships
Intangible Assets By Major Class [Line Items]
Total Amortizable intangible assets, Gross	814,240	814,240
Total Amortizable intangible assets, Accumulated Amortization	(189,090)	(140,788)
Total Amortizable intangible assets, Net	625,150	673,452
Acquired Software
Intangible Assets By Major Class [Line Items]
Total Amortizable intangible assets, Gross	71,700	71,700
Total Amortizable intangible assets, Accumulated Amortization	(31,069)	(22,798)
Total Amortizable intangible assets, Net	40,631	48,902
Trade Name
Intangible Assets By Major Class [Line Items]
Total Amortizable intangible assets, Gross	9,800	9,800
Total Amortizable intangible assets, Accumulated Amortization	(953)	(340)
Total Amortizable intangible assets, Net	8,847	9,460
Non-compete Agreements
Intangible Assets By Major Class [Line Items]
Total Amortizable intangible assets, Gross	2,860	2,860
Total Amortizable intangible assets, Accumulated Amortization	(1,716)	(1,287)
Total Amortizable intangible assets, Net	1,144	1,573
Content Library
Intangible Assets By Major Class [Line Items]
Total Amortizable intangible assets, Gross	2,100	2,100
Total Amortizable intangible assets, Accumulated Amortization	(1,225)	(438)
Total Amortizable intangible assets, Net	875	1,662
Trade Name
Intangible Assets By Major Class [Line Items]
Indefinite-lived intangibles, Gross	872,320	872,320
Indefinite-lived intangibles, Net	$ 872,320	$ 872,320

Goodwill and Other Intangible28

Goodwill and Other Intangible Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Finite Lived Intangible Assets And Liabilities [Line Items]
Unfavorable contracts liability	$ 25,185		$ 25,185		$ 44,085
TEGNA Inc
Finite Lived Intangible Assets And Liabilities [Line Items]
Unfavorable contracts liability	50,400		50,400		$ 69,300
TEGNA Inc | Wholesale Revenue
Finite Lived Intangible Assets And Liabilities [Line Items]
Amortization of liability	$ 6,300	$ 6,300	$ 18,900	$ 18,900

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Purchase of debt			$ 2,216
Aggregate carrying amount of investment		$ 9,400		$ 9,300
RepairPal, Inc. [Member]
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Ownership percentage		21.00%
RepairPal, Inc. [Member] | Convertible Debt [Member]
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Purchase of debt	$ 2,200
Percentage of annual interest rate	7.00%
Maturity date of debt	2018-05
RepairPal, Inc. [Member] | Convertible Debt [Member] | Before May 2018 [Member]
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Debt instrument, conversion terms		The debt converts into shares of preferred stock upon the earlier of May 2018 or the date on which RepairPal raises proceeds of at least $5 million through a single or series of related transactions related to any sale of preferred stock
Debt instrument, convertible type of security		preferred stock
Expected proceeds through single or series of related transactions		$ 5,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Line Items]
Provision for income taxes	$ 13,019	$ 452	$ 15,782	$ 452
Effective tax rate	38.30%		17.80%
Deferred income tax liabilities, Net	$ 267,000		$ 267,000
Write-off deferred tax liability associated with non-deductible goodwill			$ 69,000
DealerRater
Income Tax Disclosure [Line Items]
Date of acquisition			Aug. 1, 2016
DealerRater | TEGNA's
Income Tax Disclosure [Line Items]
Deferred income tax assets, Net	$ 8,000		$ 8,000

Long-Term Incentive Plan - Addi

Long-Term Incentive Plan - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Compensation Related Costs [Abstract]
Contributions to plan by employer		$ 0.3		$ 0.6
Deferred compensation expense	$ 0.2	0.3	$ 0.7
Deferred compensation liability		$ 2		$ 3.1

Fair value measurement - LTIP I

Fair value measurement - LTIP Investments Carried at Fair Value by Category on Condensed Consolidated and Combined Balance Sheets in Accordance with Valuation Hierarchy (Details) - Fair Value Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets:
Total investments at fair value	$ 2,293	$ 3,259
Mutual Funds
Assets:
Fair value measurements, Assets	1,687	2,228
Fixed Income Fund
Assets:
Fair value measurements, Assets	606	1,031
Level 1 | Mutual Funds
Assets:
Fair value measurements, Assets	$ 1,687	$ 2,228

Share Appreciation Rights Plan

Share Appreciation Rights Plan - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Liability related to SAR plan	$ 1,677	$ 1,677	$ 3,913
Share Appreciation Rights Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period		3 years
Liability related to SAR plan	$ 1,100	$ 1,100	$ 10,800
Stock appreciation rights, granted	0	0

Commitments, Contingent Liabi34

Commitments, Contingent Liabilities and Other Matters - Additional Information (Details) $ in Millions	1 Months Ended
	May 31, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
Lease expiration date	Jun. 30, 2031
Lease escalate percentage per year	2.50%
Total minimum payments throughout the remaining life of lease	$ 56.8

Debt - term loan and revolvin35

Debt - term loan and revolving credit facility - Additional Information (Details) - USD ($)	May 31, 2017	Oct. 31, 2017	Sep. 30, 2017	Sep. 30, 2017
Line Of Credit Facility [Line Items]
Borrowings	$ 675,000,000
Cash payment to TEGNA	650,000,000			$ 650,000,000
Term Loan And Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit agreement maturity date				May 31, 2022
Debt outstanding			$ 624,400,000	$ 624,400,000
Debt issuance costs			5,700,000	5,700,000
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Aggregate principal amount	450,000,000
Voluntarily paid down on the loan			45,000,000
Amount available under revolving loan			270,000,000	$ 270,000,000
Revolving Credit Facility | Subsequent Event
Line Of Credit Facility [Line Items]
Voluntarily paid down on the loan		$ 25,000,000
Letter Of Credit
Line Of Credit Facility [Line Items]
Aggregate principal amount	25,000,000
Term Loan
Line Of Credit Facility [Line Items]
Aggregate principal amount	$ 450,000,000
Mode of term loan payment				Quarterly
Quarterly amortization payments			$ 5,600,000

Earnings per share - Additional

Earnings per share - Additional Information (Details)	May 31, 2017shares
Earnings Per Share [Abstract]
Number of shares outstanding, basic and diluted	71,600,000
Equity-based awards outstanding	0

Earnings per share - Computatio

Earnings per share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income	$ 20,988	$ 51,845	$ 72,685	$ 127,564
Basic weighted-average shares outstanding	71,699	71,588	71,693	71,588
Effect of dilutive share-based compensation awards	68		70
Diluted weighted-average shares outstanding	71,767	71,588	71,763	71,588
Earnings per share, basic	$ 0.29	$ 0.72	$ 1.01	$ 1.78
Earnings per share, diluted	$ 0.29	$ 0.72	$ 1.01	$ 1.78

Share-based Compensation Plan -

Share-based Compensation Plan - Additional Information (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation is expected to be recognized over a weighted-average period		3 years 1 month 6 days
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	13,000	265,000
Weighted average share price	$ 26.55	$ 25.85

Share-based Compensation Plan39

Share-based Compensation Plans - Schedule of Share-based Compensation (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense	$ 1,012	$ 1,493
Unrecognized share-based compensation	$ 11,054	$ 11,054

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transactions [Abstract]
Related party revenue earned from commercial agreement with TEGNA	$ 0	$ 2.1	$ 3.4	$ 6.3