CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income (loss)	$ 90.9	$ (608.6)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	81.3	95.7
Amortization of debt discount and debt issuance costs	5.5	2.0
Noncash operating lease expense	35.5	22.0
Change in fair value of contingent purchase price	(0.1)	(2.2)
Holding (gain) loss on equity securities	(26.2)	21.8
Change in fair value in puts/calls associated with our Barstool Sports investment	4.6	0.0
Loss (gain) on sale or disposal of property and equipment	(0.1)	0.6
Income from unconsolidated affiliates	(9.6)	(4.1)
Return on investment from unconsolidated affiliates	5.5	8.7
Deferred income taxes	8.3	(67.4)
Stock-based compensation	4.2	6.0
Impairment losses	0.0	616.1
Changes in operating assets and liabilities, net of businesses acquired
Accounts receivable	(41.1)	39.3
Prepaid expenses and other current assets	(28.5)	(4.3)
Other assets	(1.6)	6.5
Accounts payable	(10.6)	29.1
Accrued expenses	70.9	(101.4)
Income taxes	20.2	(31.7)
Operating lease liabilities	(31.1)	(31.4)
Other current and long-term liabilities	2.5	(29.9)
Net cash provided by (used in) operating activities	180.5	(33.2)
Investing activities
Capital expenditures	(25.7)	(42.8)
Consideration paid for Barstool Sports investment	0.0	(135.0)
Consideration paid for acquisitions of businesses, net of cash acquired	0.0	(3.0)
Other	(1.6)	(2.6)
Net cash used in investing activities	(27.3)	(183.4)
Financing activities
Proceeds from revolving credit facility	0.0	540.0
Repayments on revolving credit facility	0.0	(10.0)
Principal payments on long-term debt	(16.1)	(11.7)
Proceeds from other long-term obligations	72.5	0.0
Payments of other long-term obligations	(0.7)	(8.4)
Principal payments on financing obligations	(8.7)	(13.5)
Principal payments on finance leases	(1.7)	(1.6)
Proceeds from exercise of options	5.7	4.6
Proceeds from insurance financing	23.1	15.7
Payments on insurance financing	(9.2)	(6.3)
Other	(4.8)	0.0
Net cash provided by financing activities	60.1	508.8
Change in cash, cash equivalents, and restricted cash	213.3	292.2
Cash, cash equivalents and restricted cash at the beginning of the year	1,870.4	455.2
Cash, cash equivalents and restricted cash at the end of the period	2,083.7	747.4
Reconciliation of cash, cash equivalents and restricted cash:
Total cash, cash equivalents and restricted cash	2,083.7	747.4
Supplemental disclosure:
Cash paid for interest, net of amounts capitalized	138.8	135.6
Cash refunds related to income taxes, net	(8.8)	(1.1)
Non-cash investing and financing activities:
Commencement of operating leases	5.7	1.0
Accrued capital expenditures	$ 15.6	$ 7.4