XML 35 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income (loss) $ (947,784) $ 195,902 $ 122,712
Income from discontinued operations, net of tax 0 0 6,813
Income (loss) from continuing operations, net of tax (947,784) 195,902 115,899
Adjustments to reconcile net income (loss) from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 155,105 160,433 161,922
Impairment of goodwill 952,000 0 0
Losses (gains), net on disposal of property and equipment 2,344 5,866 (30,275)
Gain (loss) on extinguishment of debt 0 (8,589) 15,347
Gain on sale of Triton business 0 0 (81,784)
Losses on stock warrant 0 0 99,118
Programming assets and liabilities (20,504) (27,144) (59,233)
Restructuring impairment charges 14,933 0 7,050
Deferred income taxes (63,698) 12,915 9,725
Stock and deferred compensation plans 25,631 19,461 25,963
Pension contributions, net of income/expense (2,107) (29,196) (24,707)
Other changes in certain working capital accounts, net (16,275) (35,800) (4,221)
Miscellaneous, net 11,959 17,575 (3,867)
Net cash provided by operating activities from continuing operations 111,604 311,423 230,937
Net cash provided by operating activities from discontinued operations 0 0 6,063
Net operating activities 111,604 311,423 237,000
Cash Flows from Investing Activities:      
Acquisitions, net of cash acquired 0 (13,797) (2,677,755)
Proceeds from sale of Triton Digital, net of cash disposed 0 0 224,990
Additions to property and equipment (59,627) (45,792) (60,744)
Acquisition of intangible assets 0 0 (430)
Purchase of investments (1,000) (7,373) (12,030)
Proceeds from FCC repack 0 2,670 20,062
Miscellaneous, net 21 (2,101) 39,911
Net cash used in investing activities from continuing operations (60,606) (66,393) (2,465,996)
Net cash provided by investing activities from discontinued operations 0 0 10,000
Net investing activities (60,606) (66,393) (2,455,996)
Cash Flows from Financing Activities:      
Net borrowings under revolving credit facility 330,000 0 0
Proceeds from issuance of long-term debt 0 0 800,000
Proceeds from issuance of preferred stock 0 0 600,000
Payments on long-term debt (299,862) (278,095) (580,999)
Premium paid on debt extinguishment 0 0 (11,106)
Payments for capitalized preferred stock issuance costs 0 0 (11,526)
Payments on financing costs 0 0 (50,597)
Dividends paid on preferred stock (48,000) (48,000) (45,067)
Tax payments related to shares withheld for vested stock and RSUs (4,955) (8,872) (7,174)
Miscellaneous, net (10,889) 7,484 (56)
Net cash provided by (used in) financing activities from continuing operations (33,706) (327,483) 693,475
Effect of foreign exchange rates on cash, cash equivalents and restricted cash 0 0 (20)
Increase (decrease) in cash, cash equivalents and restricted cash 17,292 (82,453) (1,525,541)
Cash, cash equivalents and restricted cash:      
Beginning of year 18,027 100,480 1,626,021
End of year 35,319 18,027 100,480
Supplemental Cash Flow Disclosures      
Interest paid 195,832 150,796 126,257
Income taxes paid $ 31,121 61,744 102,473
Non-cash investing and financing information      
Accrued capital expenditures   $ 2,254 $ 4,145