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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 445,148 $ 122,444
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 209,360 115,538
Amortization of broadcast rights 104,916 46,749
Depreciation of property and equipment 107,787 84,890
Goodwill and intangible assets impairment   63,317
Stock-based compensation expense 35,917 29,030
Provision for bad debt 24,735 8,119
Amortization of debt financing costs, debt discounts and premium 13,316 6,592
Loss on extinguishment of debt 44,848 3,724
Gain on asset disposal, net (770) (229)
Deferred income taxes (20,940) (14,899)
Gain on relinquishment of spectrum (10,791)  
Gain on disposal of stations and entities, net (7,025) (96,608)
Change in the estimated fair value of contingent consideration attributable to a merger 3,933  
Spectrum repack reimbursements (51,347) (54,020)
Payments for broadcast rights (147,214) (47,150)
Income on equity investments, net (41,351) (2,061)
Distribution from equity investments - return on capital 206,997  
Other operating activities, net (1,787) (1,234)
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable 93,368 54,633
Prepaid expenses and other current assets 10,000 1,827
Other noncurrent assets 11,827 (1,580)
Accounts payable (95) 26
Accrued expenses and other current liabilities (97,587) (26,578)
Income tax payable (15,021) 28,822
Other noncurrent liabilities (40,736) (5,370)
Net cash provided by operating activities 877,488 315,982
Cash flows from investing activities:    
Purchases of property and equipment (170,150) (110,225)
Payments for acquisitions, net of cash acquired (132,284) (5,881,179)
Proceeds from sale of stations and entities 362,803 1,352,958
Proceeds from resolution of acquired contingency 98,000  
Spectrum repack reimbursements from the FCC 51,347 54,020
Collection of investment in a loan receivable 49,014  
Proceeds from disposals of property and equipment 1,029 2,026
Other investing activities, net 603 247
Net cash provided by (used in) investing activities 260,362 (4,582,153)
Cash flows from financing activities:    
Proceeds from long-term debt, net of debt discounts 1,225,000 4,831,050
Repayments of long-term debt (1,857,838) (215,413)
Premium paid on debt extinguishment (25,317)  
Payments for debt financing costs (10,741) (70,717)
Purchase of treasury stock (197,600)  
Common stock dividends paid (76,380) (62,062)
Payments for finance lease and capitalized software obligations (12,664) (6,419)
Cash paid for shares withheld for taxes (6,784) (9,813)
Proceeds from exercise of stock options 2,174 1,749
Contribution from a noncontrolling interest 138  
Purchase of noncontrolling interests   (6,393)
Other financing activities, net   (6,897)
Net cash provided by (used in) financing activities (960,012) 4,455,085
Net increase in cash, cash equivalents and restricted cash 177,838 188,914
Cash, cash equivalents and restricted cash at beginning of period 248,678 145,115
Cash, cash equivalents and restricted cash at end of period 426,516 334,029
Supplemental information:    
Interest paid 290,250 178,882
Income taxes paid, net of refunds 201,979 68,627
Non-cash investing and financing activities:    
Accrued purchases of property and equipment 14,186 27,683
Noncash purchases of property and equipment 20,342  
Right-of-use assets obtained in exchange for operating lease obligations $ 22,886 $ 115,579