XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net Income $ 219,686 $ 105,771
Adjustments to reconcile net income to net cash flow from operating activities:    
Depreciation and amortization 63,267 67,075
Stock-based compensation 16,172 7,568
Company stock 401(k) contribution 9,384 8,566
Equity loss (income) from unconsolidated investments, net 3,926 (10,936)
Pension contributions, net of income (8,781) (5,885)
Change in other assets and liabilities, net of acquisitions:    
(Increase) decrease in trade receivables (37,207) 91,246
Decrease in accounts payable (20,692) (13,821)
(Decrease) increase in interest and taxes payable (52,483) 32,056
Decrease in deferred revenue (1,015) (1,123)
Change in other assets and liabilities, net 4,236 33,025
Net cash flow from operating activities 196,493 313,542
Cash flows from investing activities:    
Purchase of property and equipment (27,621) (24,308)
Reimbursements from spectrum repacking 4,438 9,768
Payments for acquisitions of businesses and other assets, net of cash acquired (13,341) (15,841)
Purchases of investments (408) (704)
Proceeds from investments 2,418 5,028
Proceeds from sale of assets and businesses 262 5,000
Net cash flow used for investing activities (34,252) (21,057)
Cash flows from financing activities:    
Payments under revolving credit facilities, net (99,000) (68,000)
Proceeds from borrowings 0 1,000,000
Debt repayments 0 (1,010,000)
Payments for debt issuance costs and early redemption fee 0 (29,948)
Proceeds from sale of minority ownership interest in Premion 0 14,000
Dividends paid (36,426) (45,776)
Other, net (10,521) (9,095)
Net cash flow used for financing activities (145,947) (148,819)
Increase in cash 16,294 143,666
Balance of cash, beginning of period 40,968 29,404
Balance of cash, end of period 57,262 173,070
Supplemental cash flow information:    
Cash paid for income taxes, net of refunds 117,600 465
Cash paid for interest $ 91,022 $ 100,074