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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net income (loss) $ 5,567 $ (11,809)
Income (loss) from discontinued operations, net of tax 2,064 (4,611)
Income (loss) from continuing operations, net of tax 3,503 (7,198)
Adjustments to reconcile net income (loss) from continuing operations to net cash flows from operating activities:    
Depreciation and amortization 39,507 27,345
Losses (gains), net on disposal of property and equipment 80 1,433
Gains on sale of business (81,784) 0
Gains (losses) on stock warrants 67,244 0
Programming assets and liabilities (37,042) (28,289)
Restructuring impairment charges 7,050 0
Deferred income taxes 6,951 16,305
Stock and deferred compensation plans 11,092 2,143
Pension expense, net of contributions (5,987) (4,034)
Other changes in certain working capital accounts, net 41,045 8,806
Miscellaneous, net (1,565) 1,630
Net cash provided by operating activities from continuing operations 50,094 18,141
Net cash used in operating activities from discontinued operations 0 (4,440)
Net operating activities 50,094 13,701
Cash Flows from Investing Activities:    
Acquisitions, net of cash acquired (2,679,798) 0
Proceeds from Divestiture of Businesses, Net of Cash Divested 224,990 0
Acquisition of intangible assets (430) (525)
Additions to property and equipment (4,139) (16,165)
Purchase of investments (1,263) (3,087)
Proceeds from FCC repack 5,345 2,719
Miscellaneous, net 12 773
Net cash used in investing activities from continuing operations (2,455,283) (16,285)
Net cash used in investing activities from discontinued operations 0 (45)
Net investing activities (2,455,283) (16,330)
Cash Flows from Financing Activities:    
Net borrowings under revolving credit facility 0 175,000
Proceeds from issuance of long-term debt 800,000 0
Proceeds from issuance of preferred stock 600,000 0
Payments on long-term debt (4,653) (2,653)
Payments on financing costs (50,597) 0
Payments for capitalized preferred stock issuance costs (11,526) 0
Dividends paid on common and preferred stock (9,067) (4,108)
Tax payments related to shares withheld for vested stock and RSUs (6,369) (2,266)
Miscellaneous, net (415) (16,574)
Net cash provided by financing activities from continuing operations 1,317,373 149,399
Effect of foreign exchange rates on cash and cash equivalents (20) (111)
Increase (decrease) in cash and cash equivalents (1,087,836) 146,659
Cash and cash equivalents:    
Beginning of year 1,626,021 32,968
End of period 538,185 179,627
Supplemental Cash Flow Disclosures    
Interest paid 29,354 24,833
Income taxes refunded (paid)   12
Income taxes refunded (paid) (547)  
Non-cash investing information    
Capital expenditures included in accounts payable $ 5,764 $ 1,187