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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (98,846) $ 169,804
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 210,980 30,202
Amortization and impairments of content costs 14,566 7,960
Amortization and write-off of original issue discount and deferred financing cost 5,396 5,207
Loss on impairment of assets held for sale 24,304  
Equity-based compensation 54,592 11,584
Income taxes (7,206) 1,132
Equity (earnings) losses of affiliates (323) 980
Net provision for allowance for doubtful accounts 1,489 89
Other, net (1,149) (213)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable (162,585) (3,665)
Other current assets (21,980) (26,405)
Other noncurrent assets (26,538) (7,479)
Accounts payable and accrued liabilities 310,760 (20,518)
Deferred revenue (17,577) 1,362
Other liabilities 4,157 10,639
Net cash provided by operating activities 290,040 180,679
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, buildings and equipment and other assets (43,568) (9,204)
Investments in affiliates, net (4,772)  
Proceeds from sales of property and equipment 45  
Net cash used in investing activities (48,295) (9,204)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 150,000  
Repayment of long-term debt (171,975) (16,300)
Payments for financing costs   (286)
Distributions to members (12,334) (161,509)
Repurchase and retirement of common stock (165,000)  
Net cash used in financing activities (199,309) (178,095)
Effects of exchange rate movements on cash (743) (1,132)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 41,693 (7,752)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 235,839 180,574
CASH AND CASH EQUIVALENTS, END OF PERIOD 277,532 172,822
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 130,076 103,499
Cash payments for income taxes 16,568 7,057
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Capital expenditures included in current liabilities 14,194 335
Capital contribution from parent for equity-based compensation 4,640 $ 11,584
Principal stockholder contributions 1,492  
Excise taxes on repurchases of common stock $ 1,465