XML 20 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 6,377 $ 175,723 $ 389,022
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 392,842 164,616 60,032
Amortization and impairments of content costs 25,199 23,798 14,535
Amortization of original issue discount and deferred financing costs 10,446 10,589 10,635
Loss on impairment of assets 27,933    
Equity-based compensation 94,636 57,109 23,744
Income taxes (70,253) 6,831 2,334
Equity (earnings) losses of affiliates 2,267 266 209
Net provision for allowance for doubtful accounts 2,525 188 3,288
Other, net 582 1,328 3
Changes in operating assets and liabilities, net of acquisition:      
Accounts receivable (52,677) 15,066 (26,404)
Other current assets (29,114) 11,596 9,979
Other noncurrent assets (34,813) (17,082) (16,786)
Accounts payable and accrued liabilities 220,851 38,188 19,657
Deferred revenue (17,721) (17,209) 10,731
Other liabilities 4,330 (2,626) 744
Net cash provided by operating activities 583,410 468,381 501,723
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, buildings and equipment and other assets (74,949) (48,633) (12,404)
Investments in affiliates, net (23,464) 765 (875)
Proceeds from the sale of assets 28,365    
Proceeds from infrastructure improvement incentives 11,000    
Cash acquired from WWE   381,153  
Payment of deferred consideration in the form of a dividend to former WWE shareholders   (321,006)  
Other, net     15
Net cash (used in) provided by investing activities (59,048) 12,279 (13,264)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings 2,900,000 100,000  
Repayment of long-term debt (2,892,477) (133,406) (82,600)
Repurchase of Class A common stock (165,000) (100,000)  
Redemption of profit units     (2,877)
Payments for financing costs (8,260) (286)  
Taxes paid related to net settlement upon vesting of equity awards (5,657)    
Distributions to members (67,256) (296,587) (1,095,904)
Proceeds from principal stockholder contributions 6,387 5,807  
Net cash used in financing activities (232,263) (424,472) (1,181,381)
Effects of exchange rate movements on cash (2,382) (923) (1,192)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 289,717 55,265 (694,114)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 235,839 180,574 874,688
CASH AND CASH EQUIVALENTS, END OF PERIOD 525,556 235,839 180,574
Supplemental Cash Flow Information [Abstract]      
Cash paid for interest 267,508 226,503 118,315
Cash payments for income taxes 89,018 23,202 14,794
NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Purchases of property and equipment recorded in accounts expenses and accounts payable 12,075 22,796 3,759
Acquisition of WWE, net of deferred consideration   8,111,055  
Accretion of redeemable non-controlling interests 8,036   (1,539)
Capital contribution from parent for equity-based compensation 6,926 18,638 $ 23,744
Principal stockholder contributions 1,492 9,000  
Excise taxes on repurchases of common stock $ 909    
Convertible notes exchanged for common stock   $ 4,226