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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 321,664 $ (467,479) $ (625,318)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 266,775 282,883 310,883
Amortization and write-off of original issue discount and deferred financing cost 22,356 38,979 22,732
Loss on extinguishment of debt 0 (28,628) 0
Amortization of content costs 23,202 584,871 38,283
Impairment charges 689 4,524 220,477
Gain on sale/disposal and impairment of assets (832) (7,662) (12,471)
Gain on business divestitures (508,439) 0 (30,999)
Equity-based compensation expense 210,163 532,467 91,271
Change in fair value of contingent liabilities 2,373 16,204 (3,671)
Change in fair value of equity investments with and without readily determinable fair value (12,240) (14,108) 316
Change in fair value of financial instruments 6,250 36,144 (3,486)
Equity losses from affiliates 223,604 72,733 260,094
Net (benefit) provision for allowance for doubtful accounts (422) (7,814) 38,542
Net loss on foreign currency transactions 20,189 4,953 9,047
Distributions from affiliates 7,433 5,786 9,405
Tax receivable agreement liability adjustment 873,264 101,736 0
Income taxes (708,598) (73,755) (13,401)
Other, net (189) (1,343) 2,225
Changes in operating assets and liabilities - net of acquisitions:      
(Increase)/decrease in receivables (278,199) (351,585) 313,989
Increase/decrease in other current assets (79,563) (90,196) 59,041
Increase in other assets (45,130) (800,944) (268,918)
(Increase)/decrease in deferred costs (20,116) (18,108) 80,984
Increase/(decrease) in deferred revenue 55,097 115,177 (43,252)
Increase/(decrease) in accounts payable and accrued liabilities 55,003 215,794 (87,489)
Increase/(decrease) in other liabilities 68,600 125,714 (207,066)
Net cash provided by operating activities 502,934 333,599 161,218
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions, net of cash acquired (1,434,515) (436,372) (317,929)
Purchases of property and equipment (147,964) (99,802) (71,651)
Proceeds from business divestitures, net of cash sold 924,751 0 0
Proceeds from sale of assets 4,037 21,993 113,026
Investments in affiliates (52,273) (154,104) (37,644)
Other, net 1,429 9,205 (1,594)
Net cash used in investing activities (704,535) (659,080) (315,792)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings 15,648 1,052,703 1,218,270
Payments on borrowings (593,712) (1,087,393) (568,733)
Contributions 0 5,550 0
Distributions (36,386) (9,175) (123,173)
Redemption payments related to pre-IPO units (9,412) (40,320) (53,856)
Exercise of stock options 0 458 0
Proceeds from equity offering, net of underwriting discounts and offerring expenses 0 1,886,643 0
Acquisition of non-controlling interests 92,487 (835,683) 0
Payments of contingent and deferred consideration related to acquisitions (18,107) (2,219) (2,320)
Other, net (427) (10,389) (16,199)
Net cash (used in) provided by financing activities (549,909) 960,175 453,989
Change in cash, cash equivalents and restricted cash balances held for sale 24,599 (28,736) 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (20,132) (3,255) 4,845
(Decrease) increase in cash, cash equivalents and restricted cash (747,043) 602,703 304,260
Cash, cash equivalents and restricted cash at beginning of year 1,793,036 1,190,333 886,073
Cash, cash equivalents and restricted cash at end of year $ 1,045,993 $ 1,793,036 $ 1,190,333