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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 261,952 $ 62,273 $ 39,301
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 51,973 45,923 36,712
Amortization of Intangible Assets 25,072 16,596 11,982
Amortization of deferred loan costs 4,624 4,884 3,194
Accretion of original issue discount and premium related to long-term debt, net (610) (779) (863)
Amortization of restricted stock and stock option awards 8,303 5,099 4,019
Amortization of program broadcast rights 21,033 19,001 14,960
Payments on program broadcast obligations (21,055) (18,786) (14,576)
Deferred income taxes (77,325) 41,386 25,770
(Gain) loss on disposals of assets, net (74,200) 329 80
Loss from early extinguishment of debt 2,851 31,987 0
Other (3,343) (1,788) (2,542)
Changes in operating assets and liabilities:      
Accounts receivable (23,744) (6,107) (14,787)
Prepaid income taxes 851 (14,642) 0
Other current assets 806 2,032 (3,705)
Accounts payable 2,116 518 (141)
Employee compensation, benefits and pension costs (1,899) 871 3,528
Accrued network fees and other expenses 3,306 (1,723) 13,789
Accrued interest (5,829) 19,736 (4,907)
Income taxes payable 5,836 2,145 (1,123)
Deferred revenue (703) 1,130 (3,972)
Net cash provided by operating activities 180,015 210,085 106,719
Investing activities      
Acquisitions of television businesses and licenses (416,018) (431,846) (185,126)
Proceeds from sale of television station 0 11,200 0
Proceeds from FCC spectrum auction 90,824 0 0
Purchases of property and equipment (34,516) (43,604) (24,222)
Proceeds from other asset sales 187 2,979 3,115
Net decrease (increase) in acquisition prepayments and other 9,724 (18,063) (149)
Net cash used in investing activities (349,799) (479,334) (206,382)
Financing activities      
Proceeds from borrowings on long-term debt 641,438 1,656,000 0
Repayments of borrowings on long-term debt (562,641) (1,100,000) 0
Payments for the repurchase of common stock (4,000) (2,000) 0
Tender and redemption premiums for 2020 Notes 0 (27,502) 0
Proceeds from issuance of common stock 238,945 0 167,313
Deferred and other loan costs (4,981) (27,926) 4
Payments for taxes related to net share settlement of equity awards (1,767) (1,452) (1,105)
Net cash provided by financing activities 306,994 497,120 166,212
Net increase in cash 137,210 227,871 66,549
Cash at beginning of period 325,189 97,318 30,769
Cash at end of period $ 462,399 $ 325,189 $ 97,318