Condensed Consolidating Financial Information

6 Months Ended

Jun. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Information

NOTE 16: CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The Company is the issuer of the Notes (see Note 6) and such debt is guaranteed by the Company’s subsidiary guarantors (the “Subsidiary Guarantors”). The Subsidiary Guarantors are direct or indirect 100% owned domestic subsidiaries of the Company. The Company’s payment obligations under the Notes are jointly and severally guaranteed by the Subsidiary Guarantors, and all guarantees are full and unconditional. The subsidiaries of the Company that do not guarantee the Notes (the “Non-Guarantor Subsidiaries”) include certain direct or indirect subsidiaries of the Company.

The guarantees are subject to release under certain circumstances, including: (a) upon the sale, exchange, disposition or other transfer (including through merger, consolidation or dissolution) of the interests in such Subsidiary Guarantor, after which such Subsidiary Guarantor is no longer a restricted subsidiary of the Company, or all or substantially all the assets of such Subsidiary Guarantor, in any case, if such sale, exchange, disposition or other transfer is not prohibited by the Indenture, (b) upon the Company designating such Subsidiary Guarantor to be an unrestricted subsidiary in accordance with the Indenture, (c) in the case of any restricted subsidiary of the Company that after the issue date is required to guarantee the Notes, upon the release or discharge of the guarantee by such restricted subsidiary of any indebtedness of the Company or another Subsidiary Guarantor or the repayment of any indebtedness of the Company or another Subsidiary Guarantor, in each case, which resulted in the obligation to guarantee the Notes, (d) upon the Company’s exercise of its legal defeasance option or covenant defeasance option in accordance with the Indenture or if the Company’s obligations under the Indenture are discharged in accordance with the terms of the Indenture, (e) upon the release or discharge of direct obligations of such Subsidiary Guarantor, or the guarantee by such guarantor of the obligations, under the Senior Credit Agreement, or (f) during the period when the rating of the Notes is changed to investment grade.

On January 31, 2017, the Company completed the Gracenote Sale, as further described in Note 2. The Gracenote Sale included certain Subsidiary Guarantors as well as Non-Guarantor Subsidiaries. The results of operations of these entities are included in their respective categories through the date of sale.

In lieu of providing separate audited financial statements for the Subsidiary Guarantors, the Company has included the accompanying unaudited condensed consolidating financial statements in accordance with the requirements of Rule 3-10(f) of SEC Regulation S-X. The following unaudited Condensed Consolidating Financial Statements present the Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income (Loss) and Consolidated Statements of Cash Flows of Tribune Media Company, the Subsidiary Guarantors, the Non-Guarantor Subsidiaries and the eliminations necessary to arrive at the Company’s information on a consolidated basis.

These statements are presented in accordance with the disclosure requirements under SEC Regulation S-X, Rule 3-10.

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED JUNE 30, 2018
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Operating Revenues	$	—		$	486,549		$	2,809		$	—		$	489,358
Programming and direct operating expenses	—			209,872			580			—			210,452
Selling, general and administrative	19,570			105,564			744			—			125,878
Depreciation and amortization	2,069			49,949			2,944			—			54,962
Total Operating Expenses	21,639			365,385			4,268			—			391,292
Operating (Loss) Profit	(21,639		)	121,164			(1,459		)	—			98,066
Income on equity investments, net	—			52,568			—			—			52,568
Interest income	2,336			—			—			—			2,336
Interest expense	(41,990		)	—			—			—			(41,990		)
Pension and other post retirement periodic benefit credit, net	6,985			—			—			—			6,985
Other non-operating items	(711		)	—			—			—			(711		)
Intercompany income (charges)	12,412			(12,377		)	(35		)	—			—
(Loss) Income from Continuing Operations Before Income Taxes and Earnings (Losses) from Consolidated Subsidiaries	(42,607		)	161,355			(1,494		)	—			117,254
Income tax (benefit) expense	(9,620		)	42,816			(380		)	—			32,816
Equity (deficit) in earnings of consolidated subsidiaries, net of taxes	117,429			(198		)	—			(117,231		)	—
Income (Loss) from Continuing Operations	$	84,442		$	118,341		$	(1,114	)	$	(117,231	)	$	84,438
Income from Discontinued Operations, net of taxes	—			—			—			—			—
Net Income (Loss)	$	84,442		$	118,341		$	(1,114	)	$	(117,231	)	$	84,438
Net loss from continuing operations attributable to noncontrolling interests	—			—			4			—			4
Net Income (Loss) attributable to Tribune Media Company	$	84,442		$	118,341		$	(1,110	)	$	(117,231	)	$	84,442
Comprehensive Income (Loss)	$	83,011		$	118,534		$	(2,005	)	$	(116,529	)	$	83,011

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND

COMPREHENSIVE (LOSS) INCOME

THREE MONTHS ENDED JUNE 30, 2017
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Operating Revenues	$	—		$	467,198		$	2,319		$	—		$	469,517
Programming and direct operating expenses	—			249,597			4,427			—			254,024
Selling, general and administrative	35,531			110,804			914			—			147,249
Depreciation and amortization	2,938			49,527			3,126			—			55,591
Total Operating Expenses	38,469			409,928			8,467			—			456,864
Operating (Loss) Profit	(38,469		)	57,270			(6,148		)	—			12,653
(Loss) income on equity investments, net	(570		)	41,331			—			—			40,761
Interest and dividend income	534			14			—			—			548
Interest expense	(40,024		)	—			(161		)	—			(40,185		)
Pension and other post retirement periodic benefit credit, net	5,673			—			—			—			5,673
Write-down of investment	—			(58,800		)	—			—			(58,800		)
Other non-operating items	(378		)	—			—			—			(378		)
Intercompany income (charges)	19,468			(19,426		)	(42		)	—			—
(Loss) Income from Continuing Operations Before Income Taxes and Earnings (Losses) from Consolidated Subsidiaries	(53,766		)	20,389			(6,351		)	—			(39,728		)
Income tax (benefit) expense	(16,877		)	9,468			(2,496		)	—			(9,905		)
Equity (deficit) in earnings of consolidated subsidiaries, net of taxes	7,066			(2,448		)	—			(4,618		)	—
(Loss) Income from Continuing Operations	$	(29,823	)	$	8,473		$	(3,855	)	$	(4,618	)	$	(29,823	)
Loss from Discontinued Operations, net of taxes	(579		)	—			—			—			(579		)
Net (Loss) Income	$	(30,402	)	$	8,473		$	(3,855	)	$	(4,618	)	$	(30,402	)
Comprehensive (Loss) Income	$	(28,135	)	$	12,521		$	(2,851	)	$	(9,670	)	$	(28,135	)

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

SIX MONTHS ENDED JUNE 30, 2018
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Operating Revenues	$	—		$	927,440		$	5,553		$	—		$	932,993
Programming and direct operating expenses	—			411,215			1,366			—			412,581
Selling, general and administrative	42,434			213,936			1,464			—			257,834
Depreciation and amortization	4,473			99,881			6,070			—			110,424
Gain on sales of spectrum	—			(133,197		)	—			—			(133,197		)
Total Operating Expenses	46,907			591,835			8,900			—			647,642
Operating (Loss) Profit	(46,907		)	335,605			(3,347		)	—			285,351
Income on equity investments, net	—			91,705			—			—			91,705
Interest income	4,234			—			—			—			4,234
Interest expense	(82,621		)	—			—			—			(82,621		)
Pension and other postretirement periodic benefit credit, net	14,069			—			—			—			14,069
Gain on investment transactions	—			3,888			—			—			3,888
Other non-operating items	(1,487		)	—			—			—			(1,487		)
Intercompany income (charges)	24,825			(24,755		)	(70		)	—			—
(Loss) Income from Continuing Operations Before Income Taxes and Earnings (Losses) from Consolidated Subsidiaries	(87,887		)	406,443			(3,417		)	—			315,139
Income tax (benefit) expense	(17,175		)	107,608			(915		)	—			89,518
Equity (deficit) in earnings of consolidated subsidiaries, net of taxes	296,343			(536		)	—			(295,807		)	—
Income (Loss) from Continuing Operations	$	225,631		$	298,299		$	(2,502	)	$	(295,807	)	$	225,621
Income (Loss) from Discontinued Operations, net of taxes	—			—			—			—			—
Net Income (Loss)	$	225,631		$	298,299		$	(2,502	)	$	(295,807	)	$	225,621
Net loss from continuing operations attributable to noncontrolling interests	—			—			10			—			10
Net Income (Loss) attributable to Tribune Media Company	$	225,631		$	298,299		$	(2,492	)	$	(295,807	)	$	225,631
Comprehensive Income (Loss)	$	232,692		$	298,467		$	(2,927	)	$	(295,540	)	$	232,692

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

SIX MONTHS ENDED JUNE 30, 2017
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Tribune Media Company Consolidated
Operating Revenues	$	—		$	904,685		$	4,742		$	—	$	909,427
Programming and direct operating expenses	—			488,829			5,248			—		494,077
Selling, general and administrative	74,233			236,893			1,717			—		312,843
Depreciation and amortization	5,886			98,689			6,246			—		110,821
Total Operating Expenses	80,119			824,411			13,211			—		917,741
Operating (Loss) Profit	(80,119		)	80,274			(8,469		)	—		(8,314		)
(Loss) income on equity investments, net	(1,039		)	78,837			—			—		77,798
Interest and dividend income	1,016			37			—			—		1,053
Interest expense	(78,616		)	—			(327		)	—		(78,943		)
Pension and other postretirement periodic benefit credit, net	11,408			—			—			—		11,408
Loss on extinguishment and modification of debt	(19,052		)	—			—			—		(19,052		)
Gain on investment transaction	4,950			—			—			—		4,950
Write-downs of investment	—			(180,800		)	—			—		(180,800		)
Other non-operating items	(654		)	—			—			—		(654		)
Intercompany income (charges)	47,686			(47,577		)	(109		)	—		—
Loss from Continuing Operations Before Income Taxes and Earnings (Losses) from Consolidated Subsidiaries	(114,420		)	(69,229		)	(8,905		)	—		(192,554		)
Income tax benefit	(40,592		)	(17,473		)	(3,454		)	—		(61,519		)
(Deficit) equity in earnings of consolidated subsidiaries, net of taxes	(57,207		)	(2,674		)	—			59,881		—
(Loss) Income from Continuing Operations	$	(131,035	)	$	(54,430	)	$	(5,451	)	$	59,881	$	(131,035	)
Income (Loss) from Discontinued Operations, net of taxes	15,039			(1,904		)	807			1,097		15,039
Net (Loss) Income	$	(115,996	)	$	(56,334	)	$	(4,644	)	$	60,978	$	(115,996	)
Comprehensive (Loss) Income	$	(106,086	)	$	(50,410	)	$	7,727		$	42,683	$	(106,086	)

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF JUNE 30, 2018
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Assets
Current Assets
Cash and cash equivalents	$	824,532		$	1,430		$	2,888		$	—		$	828,850
Restricted cash and cash equivalents	16,607			—			—			—			16,607
Accounts receivable, net	263			404,915			774			—			405,952
Broadcast rights	—			81,354			553			—			81,907
Income taxes receivable	—			17,916			—			—			17,916
Prepaid expenses	11,563			17,415			290			—			29,268
Other	5,306			16,448			—			—			21,754
Total current assets	858,271			539,478			4,505			—			1,402,254
Properties
Property, plant and equipment	49,205			546,485			57,736			—			653,426
Accumulated depreciation	(30,092		)	(212,070		)	(7,625		)	—			(249,787		)
Net properties	19,113			334,415			50,111			—			403,639
Investments in subsidiaries	10,675,024			74,074			—			(10,749,098		)	—
Other Assets
Broadcast rights	—			98,106			27			—			98,133
Goodwill	—			3,220,300			8,474			—			3,228,774
Other intangible assets, net	—			1,456,633			73,065			—			1,529,698
Assets held for sale	—			28,955			—			—			28,955
Investments	850			1,191,913			20,477			—			1,213,240
Intercompany receivables	2,780,430			7,101,181			396,429			(10,278,040		)	—
Other	68,906			137,869			32			(52,182		)	154,625
Total other assets	2,850,186			13,234,957			498,504			(10,330,222		)	6,253,425
Total Assets	$	14,402,594		$	14,182,924		$	553,120		$	(21,079,320	)	$	8,059,318

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF JUNE 30, 2018
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Liabilities and Shareholders’ Equity (Deficit)
Current Liabilities
Accounts payable	$	24,412		$	20,985		$	1,129		$	—		$	46,526
Income taxes payable	—			43,155			—			—			43,155
Contracts payable for broadcast rights	—			209,353			787			—			210,140
Deferred revenue	—			13,846			893			—			14,739
Interest payable	30,339			—			—			—			30,339
Other	34,926			52,587			241			—			87,754
Total current liabilities	89,677			339,926			3,050			—			432,653
Non-Current Liabilities
Long-term debt	2,922,600			—			—			—			2,922,600
Deferred income taxes	—			525,345			54,987			(52,182		)	528,150
Contracts payable for broadcast rights	—			232,060			33			—			232,093
Intercompany payables	7,596,221			2,405,617			276,202			(10,278,040		)	—
Other	382,746			125,097			24,597			—			532,440
Total non-current liabilities	10,901,567			3,288,119			355,819			(10,330,222		)	4,215,283
Total liabilities	10,991,244			3,628,045			358,869			(10,330,222		)	4,647,936
Shareholders’ Equity (Deficit)
Common stock	102			—			—			—			102
Treasury stock	(632,194		)	—			—			—			(632,194		)
Additional paid-in-capital	4,017,522			9,040,065			202,942			(9,243,007		)	4,017,522
Retained earnings (deficit)	66,920			1,517,323			(9,008		)	(1,508,315		)	66,920
Accumulated other comprehensive (loss) income	(41,000		)	(2,509		)	285			2,224			(41,000		)
Total Tribune Media Company shareholders’ equity (deficit)	3,411,350			10,554,879			194,219			(10,749,098		)	3,411,350
Noncontrolling interests	—			—			32			—			32
Total shareholders’ equity (deficit)	3,411,350			10,554,879			194,251			(10,749,098		)	3,411,382
Total Liabilities and Shareholders’ Equity (Deficit)	$	14,402,594		$	14,182,924		$	553,120		$	(21,079,320	)	$	8,059,318

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF DECEMBER 31, 2017
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Assets
Current Assets
Cash and cash equivalents	$	670,302		$	1,501		$	1,882		$	—		$	673,685
Restricted cash and cash equivalents	17,566			—			—			—			17,566
Accounts receivable, net	143			418,950			1,002			—			420,095
Broadcast rights	—			126,668			2,506			—			129,174
Income taxes receivable	—			18,274			—			—			18,274
Prepaid expenses	8,647			11,245			266			—			20,158
Other	12,487			1,552			—			—			14,039
Total current assets	709,145			578,190			5,656			—			1,292,991
Properties
Property, plant and equipment	58,622			557,394			57,666			—			673,682
Accumulated depreciation	(29,505		)	(196,644		)	(7,238		)	—			(233,387		)
Net properties	29,117			360,750			50,428			—			440,295
Investments in subsidiaries	10,378,948			74,610			—			(10,453,558		)	—
Other Assets
Broadcast rights	—			133,567			116			—			133,683
Goodwill	—			3,220,300			8,688			—			3,228,988
Other intangible assets, net	—			1,534,761			78,904			—			1,613,665
Assets held for sale	—			38,900			—			—			38,900
Investments	850			1,258,851			22,090			—			1,281,791
Intercompany receivables	2,520,570			6,527,083			411,059			(9,458,712		)	—
Other	65,743			135,373			376			(62,477		)	139,015
Total other assets	2,587,163			12,848,835			521,233			(9,521,189		)	6,436,042
Total Assets	$	13,704,373		$	13,862,385		$	577,317		$	(19,974,747	)	$	8,169,328

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF DECEMBER 31, 2017
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Tribune Media Company Consolidated
Liabilities and Shareholders’ Equity (Deficit)
Current Liabilities
Accounts payable	$	24,529		$	22,487		$	1,303		$	—		$	48,319
Income taxes payable	—			36,252			—			—			36,252
Contracts payable for broadcast rights	—			250,553			2,691			—			253,244
Deferred revenue	—			11,074			868			—			11,942
Interest payable	30,525			—			—			—			30,525
Deferred spectrum auction proceeds	—			172,102			—			—			172,102
Other	44,817			57,063			3			—			101,883
Total current liabilities	99,871			549,531			4,865			—			654,267
Non-Current Liabilities
Long-term debt	2,919,185			—			—			—			2,919,185
Deferred income taxes	—			485,608			85,043			(62,477		)	508,174
Contracts payable for broadcast rights	—			300,269			151			—			300,420
Intercompany payables	7,044,972			2,148,695			265,045			(9,458,712		)	—
Other	423,209			121,870			25,023			—			570,102
Total non-current liabilities	10,387,366			3,056,442			375,262			(9,521,189		)	4,297,881
Total Liabilities	10,487,237			3,605,973			380,127			(9,521,189		)	4,952,148
Shareholders’ Equity (Deficit)
Common stock	101			—			—			—			101
Treasury stock	(632,194		)	—			—			—			(632,194		)
Additional paid-in-capital	4,011,530			9,040,065			202,942			(9,243,007		)	4,011,530
Retained (deficit) earnings	(114,240		)	1,219,023			(6,516		)	(1,212,507		)	(114,240		)
Accumulated other comprehensive (loss) income	(48,061		)	(2,676		)	720			1,956			(48,061		)
Total Tribune Media Company shareholders’ equity (deficit)	3,217,136			10,256,412			197,146			(10,453,558		)	3,217,136
Noncontrolling interests	—			—			44			—			44
Total shareholders’ equity (deficit)	3,217,136			10,256,412			197,190			(10,453,558		)	3,217,180
Total Liabilities and Shareholders’ Equity (Deficit)	$	13,704,373		$	13,862,385		$	577,317		$	(19,974,747	)	$	8,169,328

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2018
(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Tribune Media Company Consolidated
Net cash (used in) provided by operating activities	$	(83,042	)	$	330,300		$	(26,317	)	$	—	$	220,941
Investing Activities
Capital expenditures	(6,087		)	(18,785		)	(75		)	—		(24,947		)
Sale of partial interest of equity method investment	—			833			—			—		833
Proceeds from sales of real estate and other assets	—			58			—			—		58
Proceeds from the sale of investments	—			3,057			—			—		3,057
Other, net	—			1,642			1,613			—		3,255
Net cash (used in) provided by investing activities	(6,087		)	(13,195		)	1,538			—		(17,744		)
Financing Activities
Payments of dividends	(43,847		)	—			—			—		(43,847		)
Tax withholdings related to net share settlements of share-based awards	(5,723		)	—			—			—		(5,723		)
Proceeds from stock option exercises	581			—			—			—		581
Distributions to noncontrolling interest	—			—			(2		)	—		(2		)
Change in intercompany receivables and payables and intercompany contributions	291,389			(317,176		)	25,787			—		—
Net cash provided by (used in) financing activities	242,400			(317,176		)	25,785			—		(48,991		)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	153,271			(71		)	1,006			—		154,206
Cash, cash equivalents and restricted cash, beginning of period	687,868			1,501			1,882			—		691,251
Cash, cash equivalents and restricted cash, end of period	$	841,139		$	1,430		$	2,888		$	—	$	845,457
Cash, Cash Equivalents and Restricted Cash are Comprised of:
Cash and cash equivalents	$	824,532		$	1,430		$	2,888		$	—	$	828,850
Restricted cash	16,607			—			—			—		16,607
Total cash, cash equivalents and restricted cash	$	841,139		$	1,430		$	2,888		$	—	$	845,457

TRIBUNE MEDIA COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2017

(In thousands of dollars)

	Parent (Tribune Media Company)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Tribune Media Company Consolidated
Net cash (used in) provided by operating activities	$	(142,822	)	$	266,895		$	(1,376	)	$	—	$	122,697
Investing Activities
Capital expenditures	(1,069		)	(24,841		)	(2,189		)	—		(28,099		)
Net proceeds from the sale of business	574,817			(8,168		)	(12,162		)	—		554,487
Proceeds from sales of real estate and other assets	—			59,751			—			—		59,751
Proceeds from sale of investment	4,950			—			—			—		4,950
Other	—			—			805			—		805
Net cash provided by (used in) investing activities	578,698			26,742			(13,546		)	—		591,894
Financing Activities
Long-term borrowings	202,694			—			—			—		202,694
Repayments of long-term debt	(587,636		)	—			(2,025		)	—		(589,661		)
Long-term debt issuance costs	(1,689		)	—			—			—		(1,689		)
Payments of dividends	(542,665		)	—			—			—		(542,665		)
Tax withholdings related to net share settlements of share-based awards	(7,351		)	—			—			—		(7,351		)
Proceeds from stock option exercises	10,013			—			—			—		10,013
Contributions from noncontrolling interests	—			—			1,003			—		1,003
Change in intercompany receivables and payables (1)	293,696			(300,109		)	6,413			—		—
Net cash (used in) provided by financing activities	(632,938		)	(300,109		)	5,391			—		(927,656		)
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(197,062		)	(6,472		)	(9,531		)	—		(213,065		)
Cash, cash equivalents and restricted cash, beginning of period	592,204			7,378			11,616			—		611,198
Cash, cash equivalents and restricted cash, end of period	$	395,142		$	906		$	2,085		$	—	$	398,133
Cash, Cash Equivalents and Restricted Cash are Comprised of:
Cash and cash equivalents	$	377,576		$	906		$	2,085		$	—	$	380,567
Restricted cash	17,566			—			—			—		17,566
Total cash, cash equivalents and restricted cash	$	395,142		$	906		$	2,085		$	—	$	398,133

(1) Excludes the impact of a $54 million non-cash settlement of intercompany balances upon dissolution of certain Guarantor subsidiaries.