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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net income (loss) $ 99,274 $ 361,299
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 166,820 153,139
Impairment of long-lived assets 356,418  
Realized and unrealized losses (gains) on investments (58) (2,617)
Non-cash, stock-based compensation 16,418 11,537
Deferred tax expense (benefit) 28,942 53,921
Allowance for credit losses 21,450 2,001
Other, net 54,529 (4,469)
Changes in current assets and current liabilities, net 132,160 158,118
Net cash flows from operating activities 875,953 732,929
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (432,172) (145,162)
Sales and maturities of marketable investment securities 287,960 513,033
Purchases of property and equipment (97,164) (120,859)
Capitalized interest related to FCC authorizations (Note 2) (241,825) (289,775)
Other, net 2,065 2,495
Net cash flows from investing activities (481,136) (40,268)
Cash Flows From Financing Activities:    
Redemption and repurchases of senior notes   (22,365)
Repayment of long-term debt and finance lease obligations (16,713) (6,632)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 5,525 4,750
Other, net 2 29,000
Net cash flows from financing activities (11,186) 4,753
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents 383,631 697,414
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 6) 2,504,320 887,924
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 6) $ 2,887,951 $ 1,585,338