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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 943.5 $ 830.4 $ 808.1
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 662.1 588.6 564.9
Goodwill and other long-lived asset impairments 132.9 23.0  
Stock-based compensation expense 61.6 46.7 48.3
Amortization of debt financing costs, debt discounts and premium 13.0 14.9 17.2
Loss on extinguishment of debt 2.9 3.2 50.7
Deferred income taxes (102.6) 5.2 (43.6)
Gain on relinquishment of spectrum     (10.8)
Spectrum repack reimbursements (2.8) (19.7) (57.3)
Payments for broadcast rights (244.3) (167.4) (193.6)
Gain on bargain purchase (55.6)    
Income from equity method investments, net (153.4) (124.6) (70.2)
Distribution from equity investments - return on capital 249.6 239.5 223.7
Changes in operating assets and liabilities, net of acquisitions and dispositions:      
Accounts receivable (11.6) (108.8) 14.0
Prepaid expenses and other current assets 10.1 (5.5) 5.0
Other noncurrent assets (1.2) 35.2 13.6
Accounts payable (49.7) 27.7 53.7
Accrued expenses and other current liabilities (18.8) 4.3 (83.7)
Income tax payable 10.3 (48.3) (11.3)
Other noncurrent liabilities (52.6) (118.3) (73.3)
Other 9.6 (11.3) (1.2)
Net cash provided by operating activities 1,403.0 1,214.8 1,254.2
Cash flows from investing activities:      
Purchases of property and equipment (157.3) (150.7) (217.0)
Proceeds from disposals of assets 241.8 17.6 2.6
Cash acquired on business acquisition 28.9    
Deposits received associated with the sale of real estate assets 10.0 13.5  
Spectrum repack reimbursements 2.8 19.7 57.3
Payments for acquisitions, net of cash acquired   (138.4) (386.4)
Proceeds from sale of stations and business units   2.5 362.8
Proceeds from resolution of acquired contingency     98.0
Collection of investment in loans receivable   2.5 49.0
Other investing activities, net (1.0) 1.2 (6.1)
Net cash used in investing activities 125.2 (232.1) (39.8)
Cash flows from financing activities:      
Proceeds from debt issuance, net of debt discounts 2,480.4 321.0 1,327.0
Repayments of long-term debt (2,960.0) (590.2) (2,184.2)
Premium paid on debt extinguishment     (25.3)
Payments for debt financing costs (0.8) (0.9) (10.7)
Purchase of treasury stock (880.7) (536.8) (281.9)
Common stock dividends paid (142.2) (118.2) (101.0)
Contribution from noncontrolling interests 30.4 0.3 0.8
Payments for capitalized software obligations (16.3) (17.0) (13.6)
Cash paid for shares withheld for taxes (12.6) (10.9) (6.8)
Payments for contingent consideration in connection with a past acquisition (13.9)    
Other financing activities, net 0.7 7.2 1.9
Net cash used in financing activities (1,515.0) (945.5) (1,293.8)
Net increase (decrease) in cash, cash equivalents and restricted cash 13.2 37.2 (79.4)
Cash, cash equivalents and restricted cash at beginning of period 206.5 169.3 248.7
Cash, cash equivalents and restricted cash at end of period 219.7 206.5 169.3
Supplemental information:      
Interest paid 330.1 273.2 324.3
Income taxes paid, net of refunds 369.9 319.9 351.7
Non-cash investing and financing activities:      
Accrued purchases of property and equipment 9.9 10.9 27.3
Right-of-use assets obtained in exchange for operating lease obligations $ 49.5 $ 45.0 31.0
Relinquishment of spectrum asset and derecognition of liability to surrender spectrum asset     $ 78.0