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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES:    
Net income (loss) $ (2,917) $ 15,246
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 5,164 4,964
Amortization of deferred financing costs 1,166 1,503
Net deferred taxes (benefit) and other (7,830) 8,544
Tax benefit on exercise of options 0 0
Provision for bad debts 1,365 743
Net (gain) loss on sale or disposal of assets 13,258 (1,219)
Non-cash stock-based compensation expense 3,071 3,019
Net (gain) loss on investments 0 0
Net (gain) loss on derivatives 0 0
Deferred rent (134) 244
Unearned revenue - long-term 0 0
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation 1,595 730
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 441 62
Net accretion expense for asset retirement obligations (237) 12
Changes in assets and liabilities:    
Accounts receivable (1,673) (4,898)
Prepaid expenses and deposits (1,113) (2,227)
Accounts payable and accrued liabilities 5,799 (442)
Accrued interest expense (1,821) (835)
Accrued liabilities - long-term (1,033) (1,188)
Prepaid expenses - long-term (176) 340
Net cash provided by (used in) operating activities 14,925 24,598
INVESTING ACTIVITIES:    
Additions to property and equipment (6,745) (2,038)
Proceeds from sale of property, equipment, intangibles and other assets 18 7,114
Purchases of radio station assets (24,000) 0
Deferred charges and other assets (299) (151)
Consolidation of a VIE (302) 0
Net cash provided by (used in) investing activities (31,328) 4,925
FINANCING ACTIVITIES:    
Proceeds from issuance of long-term debt 34,500 14,500
Proceeds from the financing method of lease obligations 0 102
Payments of long-term debt (47,008) (36,258)
Proceeds from issuance of employee stock plan 182 0
Proceeds from the exercise of stock options 22 30
Purchase of vested employee restricted stock units (2,503) (2,193)
Payment of dividend equivalents on vested restricted stock units (104) (91)
Payment of dividends on common stock (5,837) (2,886)
Payments of dividends on preferred stock (1,100) (825)
Net cash provided by (used in) financing activities (21,848) (27,621)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (38,251) 1,902
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 46,843 9,169
CASH AND CASH EQUIVALENTS, END OF PERIOD 8,592 11,071
Cash paid during the period for:    
Interest 13,254 18,307
Income taxes 177 208
Dividends on common stock 5,837 2,886
Dividends on preferred stock $ 1,100 $ 825