XML 21 R8.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 (loss) $ 122,712 $ 269,333 $ (18,378)
Income (loss) from discontinued operations, net of tax 6,813 115,769 (16,465)
Income (loss) from continuing operations, net of tax 115,899 153,564 (1,913)
Adjustments to reconcile net income (loss) from continuing operations to net cash flows from operating activities:      
Depreciation and amortization 161,922 107,155 84,344
Gain on disposition of investments 0 0 (930)
Losses (gains), net on disposal of property and equipment (30,275) 661 (1,692)
Loss on extinguishment of debt 15,347 0 0
Gain on sale of Triton business (81,784) 0 0
Losses on stock warrant 99,118 0 0
Programming assets and liabilities (59,233) (16,966) 21,194
Impairment of goodwill and intangible assets 7,050 0 0
Deferred income taxes 9,725 80,641 (5,782)
Stock and deferred compensation plans 25,963 17,859 14,697
Pension contributions, net of income/expense (24,707) (29,687) (13,066)
Other changes in certain working capital accounts, net (4,221) 34,094 (109,530)
Miscellaneous, net (3,867) 8,009 8,194
Net cash provided by (used in) operating activities from continuing operations 230,937 355,330 (4,484)
Net cash provided by (used in) operating activities from discontinued operations 6,063 (77,936) (22,968)
Net operating activities 237,000 277,394 (27,452)
Cash Flows from Investing Activities:      
Acquisitions, net of cash acquired (2,677,755) (7,103) (1,190,422)
Proceeds from sale of Triton Digital, net of cash disposed 224,990 0 0
Proceeds from sale of WPIX television station 0 83,738 0
Additions to property and equipment (60,744) (44,949) (60,935)
Acquisition of intangible assets (430) (1,883) (24,864)
Purchase of investments (12,030) (8,309) (1,636)
Proceeds from FCC repack 20,062 28,365 6,959
Miscellaneous, net 39,911 5,319 6,734
Net cash provided by (used in) investing activities from continuing operations (2,465,996) 55,178 (1,264,164)
Net cash provided by (used in) investing activities from discontinued operations 10,000 262,244 (343)
Net investing activities (2,455,996) 317,422 (1,264,507)
Cash Flows from Financing Activities:      
Proceeds from issuance of long-term debt 800,000 1,050,000 1,261,175
Proceeds from issuance of preferred stock 600,000 0 0
Payments on long-term debt (580,999) (10,612) (8,728)
Premium paid on debt extinguishment (11,106) 0 0
Payments for capitalized preferred stock issuance costs (11,526) 0 0
Payments on financing costs (50,597) 0 (31,295)
Dividends paid on common and preferred stock (45,067) (16,574) (16,374)
Repurchase of Class A Common shares 0 0 (584)
Tax payments related to shares withheld for vested stock and RSUs (7,174) (2,881) (3,831)
Miscellaneous, net (56) (21,754) 17,463
Net cash provided by financing activities from continuing operations 693,475 998,179 1,217,826
Effect of foreign exchange rates on cash, cash equivalents and restricted cash (20) 58 (13)
Increase (decrease) in cash, cash equivalents and restricted cash (1,525,541) 1,593,053 (74,146)
Cash, cash equivalents and restricted cash:      
Beginning of year 1,626,021 32,968 107,114
End of year 100,480 1,626,021 32,968
Supplemental Cash Flow Disclosures      
Interest paid 126,257 82,532 61,299
Income taxes paid (refunded) 102,473 (13,222) 13,183
Non-cash investing and financing information      
Capital expenditures included in accounts payable 4,145 2,511 983
Accrued debt issuance costs $ 0 $ 45,243 $ 0