XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 998,831 $ 125,673 $ 55,500
Income from discontinued operations, net of tax 990,902 124,097 53,568
Income from continuing operations 7,929 1,576 1,932
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 54,389 47,964 46,313
Amortization 817 739 473
Accretion of asset retirement obligations 421 333 410
Bad debt expense 1,028 1,220 1,743
Stock based compensation expense, net of amount capitalized 3,408 5,907 3,367
Deferred income taxes 22,263 14,906 16,681
Restructuring expense 1,727 0 0
Impairment expense 5,986 0 0
Gain from patronage and investments and other 481 (1,311) (4,769)
Changes in assets and liabilities:      
Accounts receivable 163 (7,318) (74)
Current income taxes (25,149) (15,896) (16,675)
Operating lease right-of-use assets 4,779 3,980 7,593
Other assets (7,005) (2,505) 785
Accounts payable 2,976 (663) (8,426)
Lease liabilities (4,333) (3,067) (4,987)
Other deferrals and accruals (6,427) 7,494 (2,037)
Net cash provided by operating activities - continuing operations 63,453 53,359 42,329
Net cash (used) provided by operating activities - discontinued operations (314,387) 249,508 216,816
Net cash (used) provided by operating activities (250,934) 302,867 259,145
Cash flows from investing activities:      
Capital expenditures (160,101) (120,450) (67,048)
Cash disbursed for acquisitions 0 (1,890) (10,000)
Cash disbursed for deposit on FCC spectrum leases 0 (16,118) (16,742)
Proceeds from sale of assets and other 366 370 112
Net cash used in investing activities - continuing operations (159,735) (138,088) (93,678)
Net cash provided (used) in investing activities - discontinued operations 1,944,089 (17,500) (71,656)
Net cash provided (used) in investing activities 1,784,354 (155,588) (165,334)
Cash flows from financing activities:      
Payments for debt issuance costs (841) 0 0
Dividends paid, net of dividends reinvested (940,256) (16,424) (13,943)
Share repurchases 0 0 (7,231)
Taxes paid for equity award issuances (1,627) (2,217) (2,910)
Payments for financing arrangements and other (1,193) (769) 36
Net cash used in financing activities - continuing operations (943,917) (19,410) (24,048)
Net cash used in financing activities - discontinued operations (700,556) (34,123) (53,198)
Net cash used in financing activities (1,644,473) (53,533) (77,246)
Net (decrease) increase in cash and cash equivalents (111,053) 93,746 16,565
Cash and cash equivalents, beginning of period 195,397 101,651 85,086
Cash and cash equivalents, end of period $ 84,344 $ 195,397 $ 101,651