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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 559,886 $ (514,391)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 131,606 136,397
Amortization and write-off of original issue discount and deferred financing cost 10,202 28,807
Loss on extinguishment of debt 0 28,628
Amortization of content costs 13,687 73,282
Impairment charges 0 3,770
Loss (gain) on sale/disposal and impairment of assets 2,333 (2,512)
Gain on business divestiture (478,641) 0
Equity-based compensation expense 111,463 403,508
Change in fair value of contingent liabilities 2,216 14,378
Change in fair value of equity investments with and without readily determinable fair value (13,542) (11,285)
Change in fair value of financial instruments 13,634 21,034
Equity losses of affiliates 60,522 59,284
Net provision for (benefit from) allowance for doubtful accounts 7,520 (3,916)
Net loss (gain) on foreign currency transactions 17,762 (5,156)
Distributions from affiliates 3,586 902
Tax receivable agreements liability adjustment 51,092 0
Income taxes (31,182) 42,342
Other, net 174 174
Changes in operating assets and liabilities - net of acquisitions and divestiture:    
Increase in receivables (242,321) (141,807)
(Increase)/decrease in other current assets (107,451) 2,325
Increase in other assets (81,938) (490,715)
Decrease in deferred costs 25,584 84,250
(Decrease)/increase in deferred revenue (95,481) 124,524
Increase in accounts payable and accrued liabilities 38,318 44,394
Increase/(decrease) in other liabilities 214,017 (20,416)
Net cash provided by (used in) operating activities 213,046 (122,199)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (431,105) (255,633)
Purchases of property and equipment (55,796) (27,107)
Proceeds from business divestiture, net of cash sold 649,706 0
Proceeds from sale of assets 415 19,237
Investments in affiliates (41,214) (113,959)
Other, net 1,148 4,897
Net cash provided by (used in) investing activities 123,154 (372,565)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 10,037 220,841
Payments on borrowings (49,887) (852,341)
Contributions 0 5,400
Distributions (25,953) (8,743)
Redemption payments related to pre-IPO units (7,067) (14,402)
Proceeds from equity offering, net of underwriting discounts and offering expenses 0 1,886,643
Acquisition of non-controlling interests 92,487 (835,683)
Payments of contingent consideration related to acquisitions (11,644) (1,778)
Other, net (777) (2,439)
Net cash provided by financing activities 7,196 397,498
Change in cash, cash equivalents and restricted cash balances held for sale 28,743 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (16,264) 1,055
Increase (decrease) in cash, cash equivalents and restricted cash 355,875 (96,211)
Cash, cash equivalents and restricted cash at beginning of year 1,793,036 1,190,333
Cash, cash equivalents and restricted cash at end of period $ 2,148,911 $ 1,094,122