v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES:    
Net income (loss) $ (79,827) $ 67,323
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 37,665 33,252
Net amortization of deferred financing costs (net of original issue discount and debt premium) 396 (21)
Net deferred taxes (benefit) and other (13,338) 1,596
Provision for bad debts 12,576 3,354
Net (gain) loss on sale or disposal of assets (228) (2,683)
Non-cash stock-based compensation expense 6,168 10,131
Net loss on extinguishment of debt 0 1,781
Deferred compensation 738 3,956
Impairment loss 17,021 0
Accretion expense, net of asset retirement obligation adjustments 46 48
Changes in assets and liabilities (net of effects of acquisitions, and dispositions):    
Accounts receivable 132,944 (22,715)
Prepaid expenses, deposits and other (25,430) (4,765)
Accounts payable and accrued liabilities (23,006) 5,951
Accrued interest expense 14,053 15,729
Accrued liabilities - long-term 2,198 (8,393)
Net cash provided by (used in) operating activities 81,976 104,544
INVESTING ACTIVITIES:    
Additions to property and equipment (20,706) (61,572)
Proceeds from sale of radio stations and other assets 10,416 27,818
Purchases of radio stations 0 (15,767)
Additions to amortizable intangible assets (1,199) (2,003)
Purchases of investments 0 (1,500)
Net cash provided by (used in) investing activities (11,489) (53,024)
FINANCING ACTIVITIES:    
Borrowing under the revolving senior debt 146,749 159,000
Net proceeds from the notes 0 325,000
Payments of long-term debt (14,622) (425,000)
Payments of revolving senior debt (186,022) (205,000)
Payment for debt issuance costs 0 (3,910)
Proceeds from issuance of employee stock plan 241 1,031
Proceeds from the exercise of stock options 0 244
Purchase of vested employee restricted stock units (1,447) (2,730)
Payment of dividends on common stock (2,692) (27,594)
Payment of dividend equivalents on vested restricted stock units (718) (1,144)
Repurchase of common stock 0 (18,340)
Net cash provided by (used in) financing activities (58,511) (198,443)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 11,976 (146,923)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 20,393 192,258
CASH AND CASH EQUIVALENTS, END OF PERIOD 32,369 45,335
Cash paid during the period for:    
Interest 51,482 61,163
Income taxes $ 3,957 $ 18,481