XML 27 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 476,347 $ 631,198 $ 478,197
Adjustments to reconcile net income to net cash flow from operating activities:      
Depreciation 59,769 61,195 64,841
Amortization of intangible assets 53,467 59,882 63,011
Employee awards stock-based compensation 24,497 30,481 31,515
Company stock 401(k) match contributions 18,629 18,661 17,142
Amortization of deferred financing costs, debt discounts and premiums 7,058 6,919 8,323
Gains on assets (25,809) (18,308) 0
Provision for deferred income taxes 19,737 17,476 9,916
Merger termination fee (136,000) 0 0
Equity loss in unconsolidated investments, net 877 4,473 9,713
Pension expense (contributions), net of contributions (expense) 5,559 (3,487) (19,139)
Changes in operating assets and liabilities, net of acquisitions:      
Decrease (increase) in accounts receivable 34,726 (15,365) (88,687)
Increase in accounts payable 38,739 3,216 14,947
(Decrease) increase in interest and taxes payable (14,977) 15,330 (53,303)
Increase (decrease) in deferred revenue 2,810 (2,151) 1,589
Changes in other assets and liabilities, net 21,820 2,631 (36,453)
Net cash flow from operating activities 587,249 812,151 501,612
Cash flows from investing activities:      
Purchase of property and equipment (54,694) (51,333) (63,076)
Reimbursement from spectrum repacking 0 323 4,942
Payments for acquisitions of businesses and other assets (1,150) 0 (13,335)
Payments for investments (370) (5,691) (1,791)
Proceeds from investments 28,105 4,997 3,701
Proceeds from sale of assets 120 472 303
Net cash flow used for investing activities (27,989) (51,232) (69,256)
Cash flows from financing activities:      
Payments of borrowings under revolving credit facilities, net 0 (166,000) (189,000)
Dividends paid (83,534) (84,756) (78,465)
Repurchase of Common Stock (652,914) 0 0
Debt repayments 0 0 (137,000)
Payments for debt issuance and premiums for early redemption costs 0 0 (1,256)
Other, net (13,457) (15,471) (10,614)
Net cash flow used for financing activities (749,905) (266,227) (416,335)
(Decrease) increase in cash and cash equivalents (190,645) 494,692 16,021
Balance of cash and cash equivalents at beginning of year 551,681 56,989 40,968
Balance of cash and cash equivalents at end of year 361,036 551,681 56,989
Supplemental cash flow information:      
Cash paid for income taxes, net of refunds 126,138 171,095 179,164
Cash paid for interest $ 166,132 $ 167,533 $ 179,803