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Nature of Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Condensed Cash Flow Statement
The following summarizes supplemental cash flow information to be read in conjunction with the Consolidated Statements of Cash Flows for the Successor Company year ended December 31, 2019, the Successor Company period from June 4, 2018 through December 31, 2018 and the Predecessor Company period from January 1, 2018 through June 3, 2018 (dollars in thousands):
 
Successor Company
 
 
Predecessor Company
 
Year Ended December 31,
 
Period from June 4, 2018 through December 31,
 
 
Period from January 1, 2018 through June 3,
 
2019
 
2018
 
 
2018
Supplemental disclosures of cash flow information:
 
 
 
 
 
 
Interest paid
$
76,846

 
$
49,785

 
 
$

Adequate protection payments on the Predecessor Term Loan

 

 
 
37,802

Income taxes paid
18,590

 
7,266

 
 
1,992

 
 
 
 
 
 
 
Supplemental disclosures of non-cash flow information:
 
 
 
 
 
 
Trade revenue
$
45,308

 
$
26,516

 
 
$
18,973

Trade expense
44,378

 
27,098

 
 
17,964

Transfer of deposit from escrow - WKQX acquisition

 
4,750

 
 

 
 
 
 
 
 
 
Supplemental disclosures of non-cash reorganization items impact on changes in assets and liabilities:
 
 
 
 
 
 
Accounts receivable
$

 
$

 
 
$
(11
)
Prepaid expenses and other current assets

 

 
 
21,077

Property and equipment

 

 
 
(121,732
)
Other intangible assets, goodwill and other assets

 

 
 
283,217

Accounts payable, accrued expenses and other liabilities

 

 
 
(36,415
)
Cancellation of 7.75% Senior Notes

 

 
 
(610,000
)
Cancellation of Predecessor Company Term Loan

 

 
 
(1,684,407
)
Issuance of Successor Company Term Loan

 

 
 
1,300,000

Cancellation of Predecessor Company stockholders' equity

 

 
 
649,620

Issuance of Successor Company stockholders' equity

 

 
 
(325,000
)
 
 
 
 
 
 
 
Reconciliation of cash and cash equivalents and restricted cash to the Consolidated Balance Sheet:
 
 
 
 
 
 
Cash and cash equivalents
$
15,142

 
$
27,584

 
 
$
50,046

Restricted cash
1,865

 
2,454

 
 
38,305

     Total cash and cash equivalents and restricted cash
$
17,007

 
$
30,038

 
 
$
88,351