XML 34 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income $ 17,705 $ 2,868
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,552 13,370
Amortization of intangible assets 5,502 1,468
Amortization of deferred loan costs 1,597 1,394
Amortization of original issue discount and premium related to long-term debt, net (432) (432)
Amortization of restricted stock and stock option awards 2,002 3,052
Amortization of program broadcast rights 7,160 5,918
Payments on program broadcast obligations (7,141) (7,692)
Common stock contributed to 401(k) plan 13 13
Deferred income taxes 11,937 1,735
Loss on disposals of assets, net 314 379
Loss from early extinguishment of debt 0 4,897
Other (161) (292)
Changes in operating assets and liabilities:    
Receivables 1,462 (2,804)
Other current assets (8,557) 418
Accounts payable (1,387) 362
Other current liabilities (10,189) 3,739
Accrued interest (4,907) 946
Net cash provided by operating activities 32,470 29,339
Investing activities    
Purchases of property and equipment (8,396) (10,456)
Acquisitions of television businesses and broadcast licenses   (325,862)
Proceeds from asset sales 101 997
Other (143) (2)
Net cash used in investing activities (8,438) (335,323)
Financing activities    
Proceeds from borrowings on long-term debt   544,000
Repayments of borrowings on long-term debt   (178,157)
Proceeds from issuance of common stock 167,378  
Deferred and other loan costs 4 (7,267)
Net cash provided by financing activities 167,382 358,576
Net increase in cash 191,414 52,592
Cash at beginning of period 30,769 13,478
Cash at end of period $ 222,183 $ 66,070