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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 54,935 $ 46,595 $ 66,390
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 139,543 142,111 151,063
Amortization of intangible assets 20,535 24,294 25,944
Accretion of asset retirement obligations 1,478 1,045 761
Bad debt expense 1,743 1,983 2,179
Stock based compensation expense, net of amount capitalized 3,817 4,959 3,580
Deferred income taxes 11,644 6,208 (54,055)
Gain from patronage and investments (4,769) (3,113) (3,458)
Amortization of long-term debt issuance costs 3,280 3,666 4,741
Changes in assets and liabilities:      
Accounts receivable (7,664) 239 16,451
Inventory, net (463) 439 33,339
Current income taxes (5,024) 12,029 (19,138)
Operating lease right-of-use assets 51,578 0 0
Waived management fee 38,827 37,763 36,056
Other assets (18,499) (16,246) 1,439
Accounts payable 12,821 (1,377) (36,725)
Lease liabilities (46,746) 0 0
Deferred lease 0 4,723 327
Other deferrals and accruals 2,109 329 (5,964)
Net cash provided by operating activities 259,145 265,647 222,930
Cash flows from investing activities:      
Capital expenditures (138,792) (136,641) (146,489)
Cash disbursed for acquisitions (10,000) (52,000) (6,000)
Cash disbursed for FCC spectrum licenses (16,742) 0 0
Proceeds from sale of assets and other 200 841 994
Net cash used in investing activities (165,334) (187,800) (151,495)
Cash flows from financing activities:      
Principal payments on long-term debt (53,197) (51,264) (36,375)
Dividends paid, net of dividends reinvested (13,943) (12,866) (12,257)
Repurchase of common stock (7,231) 0 0
Proceeds from revolving credit facility borrowings 0 15,000  
Proceeds from credit facility borrowings     25,000
Principal payments on revolving credit facility 0 (15,000) 0
Taxes paid for equity award issuances (2,911) (3,245) (5,411)
Payments for debt issuance costs 0 (3,971) 0
Proceeds from exercise of stock options and other 36 0 0
Net cash used in financing activities (77,246) (71,346) (29,043)
Net increase in cash and cash equivalents 16,565 6,501 42,392
Cash and cash equivalents, beginning of period 85,086 78,585 36,193
Cash and cash equivalents, end of period $ 101,651 $ 85,086 $ 78,585