XML 28 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 $ 599,043 $ 476,347 $ 631,198
Adjustments to reconcile net income to net cash flow from operating activities:      
Depreciation 59,935 59,769 61,195
Amortization of intangible assets 53,600 53,467 59,882
Employee stock-based compensation awards 38,532 24,497 30,481
Company stock 401(k) match contributions 18,702 18,629 18,661
Amortization of deferred financing costs, debt discounts and premiums 6,193 7,058 6,919
Gain on investment sales (153,626) (25,809) (18,308)
Provision for deferred income taxes (3,807) 19,737 17,476
Equity loss in unconsolidated investments, net 946 877 4,473
Merger termination fee 0 (136,000) 0
Pension expense, net of employer contributions 9,514 5,559 (3,487)
Change in operating assets and liabilities, net of acquisitions:      
Decrease (increase) in trade receivables 22,071 34,726 (15,365)
(Decrease) increase in accounts payable (27,613) 38,739 3,216
Increase (decrease) in interest and taxes payable 43,550 (14,977) 15,330
(Decrease) increase in deferred revenue (2,973) 2,810 (2,151)
Changes in other assets and liabilities, net 20,900 21,820 2,631
Net cash flow from operating activities 684,967 587,249 812,151
Cash flows from investing activities:      
Purchase of property and equipment (52,440) (54,694) (51,333)
Reimbursements from spectrum repacking 0 0 323
Payments for acquisitions of businesses and assets, net of cash acquired (54,249) (1,150) 0
Payments for investments (20,776) (370) (5,691)
Proceeds from investments 158,976 28,105 4,997
Proceeds from sale of assets 258 120 472
Net cash flow provided by (used for) investing activities 31,769 (27,989) (51,232)
Cash flows from financing activities:      
Repurchase of Common Stock (274,827) (652,914) 0
Payments under revolving credit facilities, net 0 0 (166,000)
Dividends paid (81,364) (83,534) (84,756)
Payments for debt issuance costs (6,448) 0 0
Payments for acquisition-related earnout consideration (4,667) 0 0
Payments for tax withholding related to vested stock-based compensation awards and share repurchase excise tax (17,252) (13,457) (15,471)
Net cash flow used for financing activities (384,558) (749,905) (266,227)
Increase (decrease) in cash and cash equivalents 332,178 (190,645) 494,692
Balance of cash and cash equivalents at beginning of year 361,036 551,681 56,989
Balance of cash and cash equivalents at end of year 693,214 361,036 551,681
Supplemental cash flow information:      
Cash paid for income taxes, net of refunds 134,123 126,138 171,095
Cash paid for interest $ 164,406 $ 166,132 $ 167,533