XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Reconciliation of Net (Loss) Income to Net Cash (Used In) Provided by Operating Activities:    
Net (loss) income $ (13,228) $ 33,381
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 7,629 2,665
Programming amortization 3,712 3,688
Amortization of deferred financing costs and original issue discount 381 148
Stock-based compensation 1,374 1,305
Provision for bad debts 12 24
Gain from FCC spectrum repack and other (46) (52)
Deferred income tax (benefit) (1,792)  
Loss (gain) on equity method investment activity 4,772 (32,609)
Amortization of operating lease right-of-use assets 171 120
Other non-cash acquisition charges   1,258
(Increase) decrease in:    
Accounts receivable (911) 5,679
Due from related parties, net (144) 39
Programming rights (9,340) 1,313
Prepaids and other assets (2,415) (4,091)
(Decrease) increase in:    
Accounts payable 1,096 667
Other accrued expenses (91) 3,799
Programming rights payable (735) (87)
Income taxes payable (771) 631
Other liabilities 492 (100)
Net cash (used in) provided by operating activities (9,834) 17,778
Cash Flows From Investing Activities:    
Funding of equity method investments (256) (861)
Capital expenditures (1,369) (2,413)
Net cash of acquired business   984
FCC spectrum repack proceeds 26 52
Net cash used in investing activities (1,599) (2,238)
Cash Flows From Financing Activities:    
Repayments of long-term debt (664) (534)
Purchases of common stock (51) (2,451)
Proceeds from incremental term loan   48,000
Payment of financing fees   (638)
Net cash (used in) provided by financing activities (715) 44,377
Net (decrease) increase in cash (12,148) 59,917
Cash:    
Beginning 49,477 134,471
Ending 37,329 194,388
Cash payments for:    
Interest 2,737 2,301
Income taxes $ 999  
Non-cash investing activity (acquisition related):    
Payable for acquisition of Pantaya   123,605
Issuance of Class A Common Stock   2,188
Effective settlement of pre-existing receivables and payables, net   $ 1,709