XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 134,181 $ 133,223
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 103,207 103,422
Stock-based compensation 5,043 11,292
Amortization included in interest expense 2,623 2,661
Gain on disposition of assets and investments (1,643) (12,032)
Loss on extinguishment of debt 71 3,198
Deferred tax expense 30 359
Provision for doubtful accounts 3,396 3,540
(Increase) decrease in:    
Receivables (32,205) (36,639)
Prepaid lease expenses (25,949) (22,945)
Other assets (7,265) 2,244
Increase (decrease) in:    
Trade accounts payable 308 152
Accrued expenses (8,856) 3,187
Other liabilities 21,812 19,363
Net cash provided by operating activities 194,753 211,025
Cash flows from investing activities:    
Acquisitions (28,101) (506,147)
Capital expenditures (47,836) (51,513)
Proceeds from disposition of assets and investments 2,566 6,734
Decrease of notes receivable 11 13
Net cash used in investing activities (73,360) (550,913)
Cash flows from financing activities:    
Cash used for purchase of treasury stock (8,997) (6,204)
Net proceeds from issuance of common stock 17,196 14,882
Principal payments on long term debt (5,625) (9,385)
Payment on revolving credit facility (334,000) (233,000)
Proceeds received from revolving credit facility 182,000 347,000
Proceeds received from note offering   400,000
Payment on senior credit facility term loans (247,500) (300,000)
Proceeds received from senior credit facility term loans 450,000 300,000
Debt issuance costs (4,899) (9,140)
Distributions to non-controlling interest (310) (210)
Dividends/distributions (162,702) (145,828)
Net cash (used in) provided by financing activities (114,837) 358,115
Effect of exchange rate changes in cash and cash equivalents 798 1,183
Net (decrease) increase in cash and cash equivalents 7,354 19,410
Cash and cash equivalents at beginning of period 35,530 22,327
Cash and cash equivalents at end of period 42,884 41,737
Supplemental disclosures of cash flow information:    
Cash paid for interest 60,346 48,664
Cash paid for foreign, state and federal income taxes 7,753 7,906
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]    
Cash flows from operating activities:    
Net income 134,372 133,405
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 103,207 103,422
Stock-based compensation 5,043 11,292
Amortization included in interest expense 2,623 2,661
Gain on disposition of assets and investments (1,643) (12,032)
Loss on extinguishment of debt 71 3,198
Deferred tax expense 30 359
Provision for doubtful accounts 3,396 3,540
(Increase) decrease in:    
Receivables (32,205) (36,639)
Prepaid lease expenses (25,949) (22,945)
Other assets (7,265) 2,244
Increase (decrease) in:    
Trade accounts payable 308 152
Accrued expenses (8,856) 3,187
Other liabilities 428 (2,119)
Net cash provided by operating activities 173,560 189,725
Cash flows from investing activities:    
Acquisitions (28,101) (506,147)
Capital expenditures (47,836) (51,513)
Proceeds from disposition of assets and investments 2,566 6,734
Decrease of notes receivable 11 13
Net cash used in investing activities (73,360) (550,913)
Cash flows from financing activities:    
Principal payments on long term debt (5,625) (9,385)
Payment on revolving credit facility (334,000) (233,000)
Proceeds received from revolving credit facility 182,000 347,000
Proceeds received from note offering   400,000
Payment on senior credit facility term loans (247,500) (300,000)
Proceeds received from senior credit facility term loans 450,000 300,000
Debt issuance costs (4,899) (9,140)
Distributions to non-controlling interest (310) (210)
Contributions from parent 38,207 36,000
Dividend to parent (171,517) (151,850)
Net cash (used in) provided by financing activities (93,644) 379,415
Effect of exchange rate changes in cash and cash equivalents 798 1,183
Net (decrease) increase in cash and cash equivalents 7,354 19,410
Cash and cash equivalents at beginning of period 35,030 21,827
Cash and cash equivalents at end of period 42,384 41,237
Supplemental disclosures of cash flow information:    
Cash paid for interest 60,346 48,664
Cash paid for foreign, state and federal income taxes $ 7,753 $ 7,906