XML 20 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities    
Net (Loss) Income $ (134,683) $ (4,705)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation 27,432 27,608
Pension credit, net of contributions (16,535) (18,083)
Depreciation 41,761 53,567
Amortization of contract intangible assets and liabilities 649 (10,778)
Amortization of other intangible assets 125,001 148,195
Income on equity investments, net (98,856) (114,295)
Distributions from equity investments 177,953 143,557
Non-cash loss on extinguishments and modification of debt 8,258 0
Original issue discount payments (7,360) 0
Write-downs of investment 180,800 0
Amortization of debt issuance costs and original issue discount 5,990 8,368
Gain on sale of business (34,510) 0
Gain on investment transactions, net (10,617) 0
Impairments of real estate 757 15,102
Gain on sales of real estate, net (365) (212,719)
Other non-operating gain, net (45) (478)
Changes in working capital items:    
Accounts receivable, net 39,192 42,183
Prepaid expenses and other current assets 13,219 8,856
Accounts payable (12,001) 2,325
Employee compensation and benefits, accrued expenses and other current liabilities (43,415) (38,200)
Deferred revenue (1,801) (90)
Income taxes 44,710 100,861
Change in broadcast rights, net of liabilities 61,642 (19,913)
Deferred income taxes (219,236) 40,160
Other, net 23,471 15,019
Net cash provided by operating activities 171,411 186,540
Investing Activities    
Capital expenditures (41,423) (61,855)
Investments (25) (3,451)
Net proceeds from the sale of business (Note 2) 557,793 0
Proceeds from FCC spectrum auction (Note 4) 172,102 0
Sale of partial interest of equity method investment 142,552 0
Proceeds from sales of real estate and other assets 61,240 507,050
Proceeds from the sale of investments 5,769 0
Distributions from equity investment 4,608 0
Distribution from cost investment 805 0
Transfers from restricted cash 0 297
Net cash provided by investing activities 903,421 442,041
Financing Activities    
Long-term borrowings 202,694 0
Repayments of long-term debt 703,527 20,881
Long-term debt issuance costs (1,689) (784)
Payments of dividends (564,499) (68,684)
Tax withholdings related to net share settlements of share-based awards (8,030) (4,540)
Proceeds from stock option exercises 11,231 0
Common stock repurchases 0 (149,147)
Contributions from noncontrolling interest 1,318 145
Settlements of contingent consideration 0 (3,636)
Net cash used in financing activities (1,062,502) (247,527)
Net Increase in Cash and Cash Equivalents 12,330 381,054
Cash and cash equivalents, beginning of period (1) 590,409 [1] 262,644
Cash and cash equivalents, end of period 602,739 643,698
Supplemental Schedule of Cash Flow Information    
Interest 130,694 137,417
Income taxes, net $ 105,678 $ 159,152
[1] (1)Cash and cash equivalents at the beginning of the nine months ended September 30, 2017 of $590 million are comprised of $578 million of cash and cash equivalents from continuing operations as reflected in the Company’s unaudited Condensed Consolidated Balance Sheets and $13 million of cash and cash equivalents reflected in current assets of discontinued operations, as further described in Note 2.