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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net Income $ 304,097 $ 266,227
Adjustments to reconcile net income to net cash flow from operating activities:    
Depreciation and amortization 56,914 60,838
Stock-based compensation 8,845 17,209
Company stock 401(k) contribution 10,226 9,929
Gains on assets, net 0 (18,308)
Equity losses from unconsolidated investments, net 520 4,047
Merger termination fee (136,000) 0
Pension expense, net of employer contributions 2,655 (1,070)
Change in other assets and liabilities:    
Decrease in trade receivables 64,356 25,263
Increase in accounts payable 2,576 13,385
Increase in interest and taxes payable, net 1,100 9,615
Increase in deferred revenue 861 1,687
Change in other assets and liabilities, net (8,665) 2,565
Net cash flow from operating activities 307,485 391,387
Cash flows from investing activities:    
Purchase of property and equipment (14,491) (23,094)
Reimbursements from spectrum repacking 0 163
Payments for acquisition of assets (1,150) 0
Purchases of investments (328) (4,706)
Proceeds from investments 23 3,451
Proceeds from sale of assets 39 367
Net cash flow used for investing activities (15,907) (23,819)
Cash flows from financing activities:    
Payments under revolving credit facilities, net 0 (166,000)
Dividends paid (40,489) (42,331)
Repurchase of common stock (300,000) 0
Other, net (13,397) (15,456)
Net cash flow used for financing activities (353,886) (223,787)
(Decrease) increase in cash (62,308) 143,781
Balance of cash, beginning of period 551,681 56,989
Balance of cash, end of period 489,373 200,770
Supplemental cash flow information:    
Cash paid for income taxes, net of refunds 74,372 79,915
Cash paid for interest $ 83,058 $ 84,361