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Condensed Consolidated Statements of Cash Flows
3 Months Ended 6 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 3,905,521 $ 1,757,420 $ 11,392,017
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation   1,321,176 971,695
Provision for bad debts   571,781 781,307
Depreciation and amortization 1,619,642 3,108,786 3,122,479
Change in fair value of contingent consideration 2,391,342 4,415,925 (5,141,950)
Gain on dispositions, net (3,977,449)   (3,707,993)
Termination of retirement benefits plan (1,812,448)   (1,812,448)
Amortization of loan fees   940,752 1,093,616
Deferred income taxes   1,934,733 3,445,499
Change in operating assets and liabilities:      
Accounts receivable   (4,061,594) 2,869,659
Prepaid expenses   (2,663,314) (2,223,937)
Other assets   (7,510) 787,852
Accounts payable   1,540,134 2,448,384
Other liabilities   2,865,485 (3,371,828)
Other operating activities   251,416 2,070
Net cash provided by operating activities   10,982,567 10,656,422
Cash flows from investing activities:      
Capital expenditures   (2,126,999) (1,601,007)
Proceeds from disposition of radio stations     35,000,000
Payments for translator licenses   (52,500) (1,109,103)
Payments for investments   (150,000)  
Loan to related party     (150,000)
Net cash provided by (used in) investing activities   (2,329,499) 32,139,890
Cash flows from financing activities:      
Payments on debt   (5,032,010) (43,030,539)
Dividends paid   (2,653,303) (2,565,822)
Purchase of treasury stock   (68,396) (478,002)
Net cash used in financing activities   (7,753,709) (46,074,363)
Net increase (decrease) in cash and cash equivalents   899,359 (3,278,051)
Cash and cash equivalents at beginning of period   13,922,390 20,325,415
Cash and cash equivalents at end of period 17,047,364 14,821,749 17,047,364
Cash paid for interest   6,474,582 8,544,760
Cash paid for income taxes   266,200 1,709,975
Supplement disclosure of non-cash investing and financing activities:      
Dividends declared but unpaid $ 1,285,638 1,367,448 1,285,638
Translator license and equipment received as consideration     332,000
Note receivable and accrued interest converted to investment   187,618  
Postretirement Benefits Plan [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Termination of retirement benefits plan     $ (1,812,448)
Pension Plan [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Termination of retirement benefits plan   (992,623)  
Class A Common Stock [Member]      
Supplement disclosure of non-cash investing and financing activities:      
Class A common stock returned to treasury stock   $ 13,515,406