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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 631,198 $ 478,197 $ 482,763
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation 61,195 64,841 66,880
Amortization of intangible assets 59,882 63,011 67,690
Stock-based compensation 30,481 31,515 20,306
Company stock 401(k) contribution 18,661 17,142 16,469
Amortization of deferred financing costs, debt discounts and premiums 6,919 8,323 20,251
(Gains) losses on assets (18,308) 0 12,457
Provision for deferred income taxes 17,476 9,916 8,533
Equity loss (income) in unconsolidated investees, net 4,473 9,713 (10,397)
Pension contributions, net of expense (3,487) (19,139) (10,400)
Changes in operating assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (15,365) (88,687) 27,474
Increase in accounts payable 3,216 14,947 7,245
Increase (decrease) in interest and taxes payable 15,330 (53,303) 66,466
(Decrease) increase in deferred revenue (2,151) 1,589 1,013
Changes in other assets and liabilities, net 2,631 (36,453) 28,386
Net cash flows from operating activities 812,151 501,612 805,136
Cash flows from investing activities:      
Purchase of property and equipment (51,333) (63,076) (45,499)
Reimbursement from spectrum repacking 323 4,942 13,180
Payments for acquisitions of businesses and other assets, net of cash acquired 0 (13,335) (34,841)
Payments for investments (5,691) (1,791) (2,415)
Proceeds from investments 4,997 3,701 5,028
Proceeds from sale of assets 472 303 5,026
Net cash used for investing activities (51,232) (69,256) (59,521)
Cash flows from by financing activities:      
Payments of borrowings under revolving credit facilities, net (166,000) (189,000) (548,000)
Dividends paid (84,756) (78,465) (76,465)
Proceeds from borrowings 0 0 1,550,000
Debt repayments 0 (137,000) (1,623,000)
Payments for debt issuance and premiums for early redemption costs 0 (1,256) (41,378)
Proceeds from sale of minority ownership interest in Premion 0 0 14,000
Other, net (15,471) (10,614) (9,208)
Net cash used for financing activities (266,227) (416,335) (734,051)
Increase in cash 494,692 16,021 11,564
Balance of cash at beginning of year 56,989 40,968 29,404
Balance of cash at end of year 551,681 56,989 40,968
Supplemental cash flow information:      
Cash paid for income taxes, net of refunds 171,095 179,164 84,889
Cash paid for interest $ 167,533 $ 179,803 $ 200,766