v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net income (loss) $ (140,671) $ (3,572) $ (242,224)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 65,786 52,238 50,231
Net amortization of deferred financing costs (net of original issue discount and debt premium) 4,092 4,030 586
Net deferred taxes (benefit) and other (42,984) 13,721 (76,260)
Provision for bad debts 506 3,173 16,349
Net (gain) loss on sale or disposal of assets and businesses (47,737) (8,363) (139)
Non-cash stock-based compensation expense 7,297 11,185 11,134
Net loss on extinguishment of debt 0 8,168 0
Deferred compensation (4,145) 4,369 3,578
Impairment loss 180,543 2,214 264,432
Change in fair value of contingent consideration (8,802) 1,117 0
Changes in assets and liabilities (net of effects of acquisitions and dispositions):      
Accounts receivable 14,181 (3,604) 86,662
Prepaid expenses and deposits (4,204) (20,623) (22,041)
Accounts payable and accrued liabilities (13,175) 14,344 (8,800)
Accrued interest expense 271 4,858 (77)
Accrued liabilities - long-term (10,253) (23,957) 822
Prepaid expenses - long-term (163) 0 973
Net cash provided by (used in) operating activities 542 59,298 85,226
INVESTING ACTIVITIES:      
Additions to property, equipment and software (80,821) (76,607) (30,837)
Proceeds from sale of property, equipment, intangibles and other assets 58,589 6,321 10,817
Purchases of businesses and audio assets (5,040) (54,798) (31,639)
Net cash provided by (used in) investing activities (27,272) (125,084) (51,659)
FINANCING ACTIVITIES:      
Proceeds from issuance of long-term debt 0 585,000 0
Borrowing under the accounts receivable facility 0 75,000 0
Borrowing under the revolving senior debt 105,000 107,000 231,121
Payments of long-term debt 0 (121,635) (15,994)
Payments of revolving senior debt (22,727) (124,000) (233,394)
Retirement of notes (10,000) (400,000) 0
Payment of call premium and other fees 0 (14,500) 0
Payment for debt issuance costs 0 (10,491) 0
Proceeds from issuance of employee stock plan 429 316 240
Proceeds from the exercise of stock options 0 86 0
Purchase of vested employee restricted stock units (1,883) (2,066) (1,527)
Payment of dividends on common stock 0 0 (2,692)
Payment of dividend equivalents on vested restricted stock units (184) (449) (750)
Repurchase of common stock 0 0 0
Net cash provided by (used in) financing activities 70,635 94,261 (22,996)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 43,905 28,475 10,571
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 59,439 30,964 20,393
CASH AND CASH EQUIVALENTS, END OF YEAR 103,344 59,439 30,964
Cash paid (received) during the period for:      
Interest 102,763 82,476 86,263
Income taxes $ (14,554) $ (300) $ 2,724