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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
5 Months Ended 7 Months Ended 12 Months Ended
Jun. 03, 2018
Dec. 31, 2018
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 696,156 $ 61,425 $ 61,257
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 22,046 34,060 52,554
Amortization of right of use assets 0 0 24,053
Amortization of debt issuance costs/discounts 0 71 894
Provision for doubtful accounts 5,993 5,313 4,077
(Gain) loss on sale of assets or stations 158 103 (55,403)
Non-cash reorganization items, net (523,651) 0 0
Impairment of assets held for sale 0 0 (6,165)
Impairment of intangible assets 0 0 15,563
Impairment charges - Next Radio Investment 0 3,170 0
Deferred income taxes (179,455) (27,411) 8,654
Stock-based compensation expense 231 3,404 5,301
Gain on early extinguishment of debt 0 (201) (381)
Other 0 153 9
Changes in assets and liabilities (excluding acquisitions and dispositions):      
Accounts receivable 12,697 (39,699) 3,433
Trade receivable (997) 1,831 53
Prepaid expenses and other current assets (5,831) (4,700) (176)
Operating leases 0 0 4,592
Assets held for sale 0 0 29
Other assets (436) 3,981 5,345
Accounts payable and accrued expenses 7,777 (10,077) (32,067)
Trade payable 190 (676) (177)
Other liabilities (5,746) 1,651 495
Net cash provided by operating activities 29,132 32,398 104,270
Cash flows from investing activities:      
Proceeds from sale of assets or stations 0 586 147,058
Acquisition 0 (18,000) 0
Capital expenditures (14,019) (15,684) (29,469)
Net cash provided by (used in) investing activities (14,019) (33,098) 117,589
Cash flows from financing activities:      
Repayment of borrowings under term loan due 2022 0 (56,500) (1,242,918)
Borrowings under term loan due 2026 0 0 525,000
Repayment of borrowings under term loan due 2026 0 0 (1,313)
Adequate protection payments on predecessor term loan (37,802) 0 0
Proceeds from issuance of 6.75% senior notes 0 0 500,000
Financing costs (850) (1,113) (12,883)
Shares returned in lieu of tax payments 0 0 (1,171)
Repayments of financing lease obligations 0 0 (1,605)
Net cash used in financing activities (38,652) (57,613) (234,890)
Decrease in cash and cash equivalents (23,539) (58,313) (13,031)
Cash, cash equivalents and restricted cash at beginning of period 111,890 88,351 30,038
Cash, cash equivalents and restricted cash at end of period $ 88,351 $ 30,038 $ 17,007