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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 498 $ (47,305)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 8,973 9,949
Amortization of debt discount and deferred financing costs 2,011 990
Non-cash lease income (849) (248)
Net deferred taxes and other 2,901 18,635
Allowance for credit losses 1,869 2,686
Stock-based compensation expense 7,978 11,195
Loss (gain) on extinguishment and repurchase of debt 1,452 (3)
Trade and barter activity, net (267) (575)
Impairment of intangible assets, investments, goodwill and long-lived assets 1,500 34,256
Net (gain) loss on sale and retirement of assets (5,903) 44
Gain on sale of investment 0 (4,009)
Unrealized gain on investment 0 (202)
Amortization of content rights 739 2,445
Change in content rights liabilities (833) (2,464)
Other 1,391 2,150
Changes in assets and liabilities    
Accounts receivable (860) (2,857)
Prepaid expenses and other assets (1,762) (527)
Accounts payable 5,399 (365)
Accrued expenses (5,892) (12,778)
Accrued interest (8,422) (377)
Other long-term liabilities 206 44
Net cash provided by operating activities 10,129 10,684
Cash flows from investing activities:    
Purchases of property and equipment (8,265) (8,679)
Net proceeds from sale of assets and investment related transactions 6,349 4,408
Proceeds from insurance recoveries 10 278
Net cash used in investing activities (1,906) (3,993)
Cash flows from financing activities:    
Repayment and repurchases of 2026 Notes (467,436) (13,589)
Proceeds from Term Loan 446,400 0
Repayment of Term Loan (2,938) 0
Deferred financing costs (4,676) 0
Borrowings under the revolving credit facility 10,000 0
Repayment of borrowings under the revolving credit facility (10,000) 0
Dividend payments (6,558) (6,256)
Proceeds from stock options exercised 691 4,773
Shares withheld in lieu of employee tax withholding (1,475) (35)
Withholdings for shares issued under the ESPP 289 403
Repurchases of stock 0 (22,133)
Cash distribution to non-controlling interests (1,299) (1,300)
Repayments of capitalized obligations (705) (1,085)
Net cash used in financing activities (37,707) (39,222)
Cash and cash equivalents and restricted cash:    
Net decrease in cash, cash equivalents and restricted cash (29,484) (32,531)
Beginning of period 32,990 61,549
End of period 3,506 29,018
Cash payments:    
Interest 29,340 18,244
Income taxes 785 684
Supplemental Disclosure of Non-cash Activities:    
Dividends declared, but not paid during the period 3,519 3,174
Accrued financing costs 849 0
Property and equipment acquired in exchange for advertising [1] 522 587
Accrued capital expenditures 212 124
Supplemental Disclosure of Cash Flow Information relating to Leases:    
Cash paid for amounts included in the measurement of operating lease liabilities, included in operating cash flows 6,110 6,094
Right-of-use assets obtained in exchange for operating lease obligations 1,899 3,524
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 3,183 28,511
Restricted cash 323 507
Cash, cash equivalents, and restricted cash $ 3,506 $ 29,018
[1] Represents total advertising services provided by the Company in exchange for property and equipment during each of the six months ended June 30, 2025 and 2024, respectively.