XML 26 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (206,565) $ (510,720) $ (546,494)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 62,239 87,267 102,105
Amortization of debt issuance costs/discounts 9,394 9,961 9,541
Provision for doubtful accounts 5,807 1,103 4,501
(Gain) loss on sale of assets or stations (2,499) (95,695) 2,856
Non-cash reorganization items, net 25,921 0 0
Impairment of intangible assets and goodwill 335,909 604,965 565,584
Impairment charges - equity interest in Pulser Media Inc. 0 0 19,364
Deferred income taxes (168,226) (27,831) (48,262)
Stock-based compensation expense 1,614 2,948 21,033
Loss (gain) on early extinguishment of debt 1,063 (8,017) (13,222)
Changes in assets and liabilities (excluding acquisitions and dispositions):      
Accounts receivable (9,469) 10,740 371
Trade receivable 761 (839) (1,691)
Prepaid expenses and other current assets (7,655) (7,017) 16,983
Other assets (1,451) (1,106) (6,208)
Accounts payable and accrued expenses 46,587 (16,816) (34,122)
Trade payable (1,486) 176 410
Other liabilities (5,348) (13,374) (10,317)
Net cash provided by operating activities 86,596 35,745 82,432
Cash flows from investing activities:      
Proceeds from sale of assets or stations 6,090 106,935 9,201
Restricted cash (974) (44) 2,074
Capital expenditures (31,932) (23,037) (19,236)
Net cash used in investing activities (26,816) 83,854 (7,961)
Cash flows from financing activities:      
Repayment of borrowings under term loan and revolving credit facilities (81,652) (20,000) (50,000)
Adequate protection payments on term loan (6,405) 0 0
Tax withholding payments on behalf of employees 0 0 (93)
Proceeds from exercise of warrants 0 3 8
Deferred financing costs (91) 0 0
Net cash (used in) provided by financing activities (88,148) (19,997) (50,085)
(Decrease) increase in cash and cash equivalents (28,368) 99,602 24,386
Cash and cash equivalents at beginning of period 131,259 31,657 7,271
Cash and cash equivalents at end of period 102,891 131,259 31,657
Supplemental disclosures of cash flow information:      
Interest paid 96,225 126,515 129,314
Income taxes paid 3,781 4,451 2,620
Supplemental disclosures of non-cash flow information:      
Trade revenue 40,080 37,691 39,237
Trade expense 38,633 36,158 40,427
Transfer of property and equipment from assets held for sale 30,150 0 0
Equity interest in Pulser Media, Inc. 0 0 2,025
Transfer of deposit from escrow - Los Angeles land and building sale $ 0 $ 6,000 $ 0