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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income (loss) $ 53 $ (18)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 21 20
Amortization of intangible assets 26 29
Amortization of deferred loan costs 3 3
Amortization of restricted stock and stock option awards 4 3
Amortization of program broadcast rights 9 10
Payments on program broadcast obligations (10) (14)
Common stock contributed to 401(k) 4 4
Deferred income taxes 9 3
Gain on disposal of assets, net (6) (10)
Other 0 (1)
Changes in operating assets and liabilities:    
Accounts receivable 26 12
Other current assets (12) 11
Accounts payable 12 5
Employee compensation, benefits and pension cost (24) (21)
Accrued network fees and other expenses (3) (31)
Accrued interest 9 14
Income taxes payable 9 (1)
Deferred revenue 1 6
Net cash provided by operating activities 131 24
Investing activities    
Acquisitions of television businesses and licenses, net of cash acquired (1) (2,740)
Proceeds from sale of television stations 0 231
Purchases of property and equipment (27) (18)
Proceeds from asset sales 1 2
Proceeds from FCC Repack (Note 1) 6 12
Acquisition prepayments 0 (47)
Other (3) (2)
Net cash used in investing activities (24) (2,562)
Financing activities    
Proceeds from borrowings on long-term debt 0 1,400
Repayments of borrowings on long-term debt 0 (4)
Payments for the repurchase of common stock (6) 0
Payment of preferred stock dividends (13) 0
Deferred and other loan costs 0 (50)
Payment for taxes related to net share settlement of equity awards (4) (2)
Net cash (used in) provided by financing activities (23) 1,344
Net increase (decrease) in cash 84 (1,194)
Cash and restricted cash at beginning of period 212 1,419
Cash at end of period $ 296 $ 225