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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities:    
Net income $ 95.1 $ 50.7
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 145.9 136.7
Deferred tax (benefit) provision 1.2 (1.8)
Stock-based compensation 16.4 15.4
Provision for doubtful accounts 4.0 0.7
Accretion expense 1.9 1.8
Net gain on dispositions (3.0) (4.2)
Impairment charge 0.0 42.9
Loss on extinguishment of debt 11.0 0.0
Equity in earnings of investee companies, net of tax (3.9) (2.7)
Distributions from investee companies 3.1 1.5
Amortization of deferred financing costs and debt discount and premium 4.9 4.2
Cash paid for direct lease acquisition costs (34.5) (30.2)
Change in assets and liabilities, net of investing and financing activities:    
Increase in receivables (29.2) (30.9)
Increase in prepaid MTA equipment deployment costs (64.2) (48.8)
(Increase) decrease in prepaid expenses and other current assets (10.4) 1.1
Increase (decrease) in accounts payable and accrued expenses 3.0 (0.4)
Increase in deferred revenues 9.1 8.8
Decrease in income taxes (0.5) (3.1)
Other, net 12.2 (4.3)
Net cash flow provided by (used for) operating activities 162.1 137.4
Investing Activities:    
Capital expenditures (65.4) (62.1)
Acquisitions (60.7) (5.6)
MTA franchise rights (16.9) (9.4)
Net proceeds from dispositions 4.9 6.0
Net cash flow provided by (used for) investing activities (138.1) (71.1)
Financing Activities:    
Proceeds from long-term debt borrowings 760.0 89.0
Repayments of long-term debt borrowings (695.0) (79.0)
Proceeds from borrowings under short-term debt facilities 280.0 200.0
Repayments of borrowings under short-term debt facilities (230.0) (105.0)
Payments of deferred financing costs (9.5) (0.2)
Payment of debt extinguishment charges (7.4) 0.0
Proceeds from shares issued under the ATM Program 50.9 0.0
Taxes withheld for stock-based compensation (7.7) (8.2)
Dividends (156.0) (152.9)
Net cash flow provided by (used for) financing activities (14.7) (56.3)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.3 (0.2)
Net increase in cash, cash equivalents and restricted cash 9.6 9.8
Cash, cash equivalents and restricted cash, beginning of period 54.1 48.3
Cash, cash equivalents and restricted cash, end of period 63.7 58.1
Supplemental disclosure of cash flow Information:    
Cash paid for income taxes 7.9 7.2
Cash paid for interest 92.3 79.2
Non-cash investing and financing activities:    
Accrued purchases of property and equipment 10.9 6.1
Accrued MTA franchise rights $ 2.3 $ 0.0