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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES:    
Net income (loss) $ 1,184 $ 26,666
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 8,068 7,452
Amortization of deferred financing costs 1,752 2,209
Net deferred taxes (benefit) and other (4,921) 16,097
Tax benefit on exercise of options 0 0
Provision for bad debts 1,742 1,129
Net (gain) loss on sale or disposal of assets 13,155 (1,310)
Non-cash stock-based compensation expense 4,629 4,660
Net (gain) loss on investments 0 0
Net (gain) loss on derivatives 0 0
Deferred rent (109) 208
Unearned revenue - long-term 0 0
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation 2,242 1,471
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 441 62
Net accretion expense for asset retirement obligations (341) 23
Changes in assets and liabilities:    
Accounts receivable (4,057) (5,390)
Prepaid expenses and deposits (2,079) (2,044)
Accounts payable and accrued liabilities 6,983 (192)
Accrued interest expense (1,759) 4,749
Accrued liabilities - long-term (1,438) (1,639)
Prepaid expenses - long-term (83) (3,166)
Net cash provided by (used in) operating activities 25,409 50,985
INVESTING ACTIVITIES:    
Additions to property and equipment (12,056) (4,316)
Proceeds from sale of property, equipment, intangibles and other assets 18 7,118
Purchases of radio station assets (24,000) (92)
Payments To Acquire non-amortizable intangible assets 0 (35)
Purchases of investments (9,700) 0
Consolidation of a VIE (302) 0
Payments to Acquire amortizable intangible assets (663) (188)
Net cash provided by (used in) investing activities (46,703) 2,487
FINANCING ACTIVITIES:    
Proceeds from issuance of long-term debt 57,500 21,500
Proceeds from the financing method of lease obligations 0 102
Payments of long-term debt (57,012) (65,262)
Proceeds from issuance of employee stock plan 182 194
Proceeds from the exercise of stock options 22 39
Purchase of vested employee restricted stock units (2,546) (2,205)
Payment of dividend equivalents on vested restricted stock units (109) (91)
Payment of dividends on common stock (16,550) (5,772)
Payments of dividends on preferred stock (1,650) (1,238)
Net cash provided by (used in) financing activities (20,163) (52,733)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (41,457) 739
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 46,843 9,169
CASH AND CASH EQUIVALENTS, END OF PERIOD 5,386 9,908
Cash paid during the period for:    
Interest 19,474 21,046
Income taxes 352 339
Dividends on common stock 16,550 5,772
Dividends on preferred stock $ 1,650 $ 1,238