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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 126,723 $ 55,956 $ 46,595
Income from discontinued operations, net of tax 124,097 53,568 44,518
Income from continuing operations 2,626 2,388 2,077
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 47,964 46,313 44,213
Amortization 739 473 176
Accretion of asset retirement obligations 333 410 319
Bad debt expense 1,220 1,743 1,983
Stock based compensation expense, net of amount capitalized 5,907 3,367 4,745
Deferred income taxes 15,310 16,848 3,857
Gain from patronage and investments (1,311) (4,769) (3,112)
Changes in assets and liabilities:      
Accounts receivable (7,318) (74) 8
Current income taxes (15,896) (16,675) (5,200)
Operating lease right-of-use assets 3,980 7,593 0
Other assets (3,959) 162 (6,576)
Accounts payable (663) (8,426) 12,203
Lease liabilities (3,067) (4,987) 0
Other deferrals and accruals 7,494 (2,037) (494)
Net cash provided by operating activities - continuing operations 53,359 42,329 54,199
Net cash provided by operating activities - discontinued operations 249,508 216,816 211,448
Net cash provided by operating activities 302,867 259,145 265,647
Cash flows from investing activities:      
Capital expenditures (120,450) (67,048) (56,631)
Cash disbursed for acquisitions (1,890) (10,000) 0
Cash disbursed for deposit on FCC spectrum leases (16,118) (16,742) 0
Proceeds from sale of assets and other 370 112 541
Net cash used in investing activities - continuing operations (138,088) (93,678) (56,090)
Net cash used in investing activities - discontinued operations (17,500) (71,656) (131,710)
Net cash used in investing activities (155,588) (165,334) (187,800)
Cash flows from financing activities:      
Dividends paid, net of dividends reinvested (16,424) (13,943) (12,863)
Share repurchases 0 (7,231) 0
Taxes paid for equity award issuances (2,217) (2,910) (3,245)
Payments for financing arrangements and other (769) 36 (2)
Net cash used in financing activities - continuing operations (19,410) (24,048) (16,110)
Net cash used in financing activities - discontinued operations (34,123) (53,198) (55,236)
Net cash used in financing activities (53,533) (77,246) (71,346)
Net increase in cash and cash equivalents 93,746 16,565 6,501
Cash and cash equivalents, beginning of period 101,651 85,086 78,585
Cash and cash equivalents, end of period $ 195,397 $ 101,651 $ 85,086