CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. CETV Cash Flow

Central european media enterprises ltd. (CETV)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
8,970	49,857	13,522	44,078	11,751	56,025	68,491	26,025	7,072	40,836	-7,933	27,798	-11,274	21,169	-19,823	-141,249	-40,694	-11,281	-21,775	-8,985	-73,531	-78,275	-52,482	-52,506	-48,633	-108,209	-23,273	-41,089	-108,962	-503,084	-32,637	3,141	-13,813	-77,225	-82,196	812	-20,995	-25,442	3,417	164,706	-45,908
Adjustments to reconcile net income to net cash generated from operating activities:
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	0	57,882	2,350	316	7,111	-5,988	2,533	-5,292	-	-	-	-	-28,527	-265	2,684	-3,288	-60,470	-1,174	-11,154	-7,633	-2,738	-1,465	-973	77	-	-	-	-	-	-	-	-	0	0	209,775	3,922
Amortization of program rights and other content costs
65,032	85,037	58,962	70,356	70,360	90,102	60,910	79,967	78,460	119,514	55,871	59,698	58,645	108,808	17,678	77,282	71,978	23,800	60,738	72,693	70,279	100,783	74,308	90,289	84,439	145,983	89,145	93,913	86,890	112,941	89,515	76,884	73,349	184,706	52,131	78,178	58,727	-	-	-	-
Depreciation and other amortization
10,914	11,855	11,110	11,120	11,294	10,828	11,324	11,933	12,352	15,895	10,625	9,919	9,432	14,032	5,553	12,385	25,847	17,575	25,106	24,044	23,000	22,331	21,230	21,575	17,483	15,741	15,071	15,288	17,225	17,661	28,692	28,816	29,144	28,311	29,311	28,812	28,633	-135,029	75,597	89,722	80,764
Interest and related Guarantee Fees paid in kind
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,745	0	43,133	548	37,157	0	727	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
0	0	-105	-84	-151	0	-127	-179	-109	0	-101	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-925	-3,423	-21,556	-	-	-	-
Gain on disposal of fixed assets
19	18	55	5	6	-3	10	46	37	40	40	5	23	254	62	15	-32	-10,457	-3,634	-3,140	-140	-50	103	0	59	219	-136	-90	116	2	208	188	-117	200	-58	-175	-534	159	-54	-149	103
Deferred income taxes
-64	-801	1,497	419	-373	-2,983	-131	290	90	-817	184	518	598	5,359	-811	-5,068	-904	4,458	306	-3,245	249	2,433	-118	-2,565	2,456	2,950	385	3,951	7,226	13,242	757	3,469	6,407	-467	3,295	1,222	2,099	3,359	-475	8,922	-3,275
Stock-based compensation (Note 16)
900	-	973	1,127	1,000	-	3,860	1,128	1,112	-	432	845	767	-	647	879	838	762	557	584	408	354	409	330	251	2,230	1,706	1,186	994	1,052	1,106	1,004	1,087	1,342	1,452	1,583	1,521	1,759	1,886	1,619	1,573
Change in fair value of derivatives
0	0	-165	26	-62	-453	297	-1,004	-162	973	-583	-886	265	249	-503	2,649	-13,868	10,904	-1,330	-1,231	-1,010	0	0	50	-50	0	0	0	104	143	559	47,398	927	2,681	3,479	1,161	-40	3,425	-1,229	2,624	-3,656
Foreign currency exchange loss, net
-7,055	2,623	-3,482	2,879	-2,681	323	-1,355	-4,961	3,617	1,314	3,321	7,094	2,044	-4,792	506	-2,261	15,438	-2,234	1,281	3,028	-3,592	5,545	3,584	-3,363	186	9,950	43,711	15,077	-49,882	3,597	16,755	-40,312	23,394	-32,576	-45,919	4,106	43,265	-28,872	62,009	-47,724	9,557
Changes in assets and liabilities:
Accounts receivable, net
-41,897	52,768	-38,573	18,669	-35,220	49,783	-24,859	19,111	-27,574	35,605	-28,424	19,669	-26,525	38,502	-18,031	29,405	-30,904	46,777	-36,573	28,588	-31,362	56,025	-48,607	42,650	-23,529	41,817	-34,650	27,599	-39,148	21,097	-45,702	31,845	-12,514	39,313	-48,978	31,261	-38,621	59,512	-51,639	-5,389	17,060
Accounts payable and accrued liabilities
-1,876	8,063	2,480	6,487	-5,138	-3,703	1,048	3,510	-9,452	3,847	471	6,174	-12,080	9,867	-72	9,218	-15,132	9,649	2,356	7,600	-15,017	3,577	-12,118	8,733	-10,741	16,284	9,614	9,954	-7,625	16,786	-3,480	-37,882	14,945	9,320	-23,485	-4,864	-229	9,945	-15,807	28,164	-23,774
Program rights
51,826	75,182	83,231	62,062	57,978	86,122	71,335	73,929	76,104	127,173	64,030	65,387	54,208	113,011	20,849	83,541	69,956	16,514	70,887	65,312	82,905	110,128	106,934	92,685	78,689	90,580	99,368	88,725	78,696	93,649	115,781	58,251	126,534	166,830	70,230	73,581	91,956	80,679	77,530	181,548	-50,304
Other assets and liabilities
287	2,470	719	-642	1,560	-1,683	-1,191	1,048	1,239	-4,944	285	2,134	-860	-1,731	1,144	-1,256	1,582	-1,792	7,628	1,770	-920	-88	1,018	948	-2,599	-4,984	2,217	-1,258	1,769	2,642	1,024	-3,884	2,246	2,025	-2,752	-3,813	350	-2,586	-5,217	-19,908	9,024
Accrued interest
2,924	-3,676	3,137	-4,062	3,833	-4,272	-25,171	-12,806	10,911	-14,395	12,365	-14,799	13,102	-145,388	30,378	-38,543	19,830	-25,048	27,088	-23,252	25,619	-33,419	26,560	-2,864	-272	501	5	-1,095	-8,093	7,504	-2,366	3,208	-4,958	5,118	-7,662	10,294	-10,804	-	-	-	-
Income taxes payable
1,549	7,040	-11,200	6,271	-2,118	5,585	-1,988	-6,655	180	6,563	-1,964	2,989	-34	5,417	-30	20	-245	-541	-41	19	-282	315	2,533	258	-158	-112	-2,654	-1,681	-1,972	7,774	-3,852	240	544	207	58	3,362	-848	1,351	-2,489	3,355	-3,472
Deferred revenue
20,927	-11,494	-6,538	-5,678	24,186	-9,934	-3,142	-4,359	23,728	-13,917	-3,008	-3,761	18,414	-13,428	-1,831	-5,714	20,121	-12,229	2,740	-5,463	18,411	-16,198	-1,132	-2,863	19,181	-18,792	2,082	-321	16,047	-22,191	7,816	5,705	7,746	-22,354	-1,559	-8,163	38,658	4,192	0	390	-8,516
VAT and other taxes payable
9,651	-3,868	-1,535	-2,091	1,895	-57	582	-2,871	690	-191	-10	-1,009	-2,091	2,297	2,125	-1,777	-1,617	1,706	-20,906	-5,840	24,162	10,987	618	1,106	3,775	-1,843	249	-1,213	2,178	-2,375	-4,119	1,159	5,768	-7,775	-1,482	-7,216	12,428	-2,031	-113	-2,428	2,930
Net cash generated from operating activities
115,914	11,679	27,693	44,271	96,009	15,262	14,091	8,176	71,495	2,663	34,085	6,133	50,420	-134,211	39,423	-22,109	39,658	495	37,563	10,767	30,755	-50,869	-1,814	-30,305	17,746	-6,335	-17,485	-34,974	-2,276	29,230	-8,707	-15,128	-33,065	12,392	-11,804	-1,122	30,172	-8,175	-18,434	2,769	-25,774
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment
4,790	8,784	7,367	3,907	4,365	9,515	4,887	4,812	5,369	11,726	4,413	5,942	6,034	11,886	3,563	5,211	6,076	310	11,882	6,981	7,481	8,556	6,085	5,077	8,967	9,234	6,076	4,578	10,230	9,945	10,042	4,001	7,339	12,260	7,611	8,731	5,590	13,511	15,461	9,230	7,785
Disposal of property, plant and equipment
31	28	14	0	6	2	24	1	16	29	28	10	101	123	56	32	0	2,966	51	22	52	-25	81	15	66	37	-18	97	167	-65	110	29	162	390	607	0	94	4	84	27	0
Investments in subsidiaries, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	750	0	7,950	897	-485	-5,325	416,566	142
Net cash used in continuing investing activities
-4,759	-8,756	-7,353	-3,907	-4,359	-9,513	-4,863	-4,811	-5,353	-11,697	-4,385	-5,932	-5,933	-11,763	-3,507	-5,179	-6,076	2,656	-11,831	-6,959	-7,429	-8,581	-6,004	-5,062	-8,901	-9,197	-6,094	-4,481	-10,063	-10,010	-9,932	-3,972	-7,177	-12,620	-7,004	-16,681	-6,393	-13,022	-10,052	-425,769	-7,927
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Long-term Debt
0	0	54,925	45,060	68,928	0	77,223	131,912	61,645	0	59,060	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	289,855	20,467	110,048	0	180,087	0	0	47,308	0	26,252	-	-	-	-
Repuchase of Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payment on exchange of Convertible Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	550	4,444	27,132	0	0	0	0
Debt transactions costs
-	-	-	-	-	0	9,228	1,345	173	0	106	0	0	0	0	9,200	341	914	0	21	606	1,427	187	11,703	889	0	0	5	780	2,072	4,117	0	811	0	119	145	1,837	15,310	0	0	0
Settlement of derivative instruments
0	-	539	433	740	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	138	0	0	20,467	110,038	-131,020	0	0	-	-	-	-	-	-	-	-
Proceeds from credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-786	449	149	228	-3,831	2,146	189,696	3,248	36,357	54,600	8,661	4,533	12,420	7,856	34,891	148,331
Payment of credit facilities and finance leases
2,006	1,991	1,711	1,626	1,769	1,611	1,204	1,054	989	1,242	685	745	327	602	108	306	341	65	311	26,481	245	333	284	230	233	-67	839	603	273	-4,651	77,333	24,826	3,688	10,781	10,496	6,645	6,536	169,792	448	60,031	81,928
Proceeds from exercise of warrants
-	-	-	-	-	0	0	103,371	2,281	585	36	226	301	1,050	887	5,060	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of withholding tax on net share settlement of share-based compensation
8	0	-6	74	299	0	1,093	537	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	225	17	591	0	0	0
Excess tax benefits from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	399	29	62	177
Dividends paid to holders of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	46	-	89	71	113	12	165	131	0	-	-	-	-	-	-	-	-
Impact of exchange rate fluctuations on cash and cash equivalents
-5,439	1,535	-3,656	1,436	-1,913	977	-1,701	-3,196	2,515	1,136	4,097	5,939	-152	-2,867	271	-1,778	3,512	-121	-396	2,264	-3,598	-2,477	-4,619	-3,667	112	50	3,043	1,832	-5,309	1,944	3,317	-5,836	5,139	-7,302	-6,368	1,088	6,146	-1,956	8,030	-1,236	-9,565
Net (decrease) / increase in cash and cash equivalents
103,702	2,467	-40,485	-5,393	18,001	2,554	15,067	-32,023	17,685	-8,634	-20,953	1,963	45,418	-17,233	13,983	-51,977	36,740	2,793	23,768	-15,276	18,991	-36,487	-15,281	-23,704	7,448	-17,544	-21,891	23,111	-17,897	15,970	844	-25,218	-36,354	18,969	-30,088	-19,263	-27,282	-58,855	-12,352	-148,118	17,421
Net cash used in continuing financing activities
-2,014	-1,991	-57,169	-47,193	-71,736	-1,611	-88,748	-31,477	-60,526	-657	-59,815	2,059	-26	111,117	779	-23,288	-682	-979	-311	-26,502	-851	23,240	-471	17,394	-1,168	-660	-1,567	62,409	-938	-2,014	16,166	-282	-1,251	26,499	-4,912	-2,548	-57,207	-35,702	8,104	-31,644	66,580
Net cash provided by discontinued operations - operating activities
-	-	-	-	-	-2,561	-4,219	-1,308	9,930	-2,537	6,592	-6,003	2,684	-	-	-	-	8,219	-1,242	-920	-710	2,205	-1,929	-1,888	204	-905	6	-1,766	713	-	-	-	-	-	-	-	-	0	0	-229	-5,692
Net cash provided by / (used in) discontinued operations - investing activities
-	-	-	-	-	0	100,507	593	-376	2,248	-1,453	-164	-1,508	3,151	-5,494	377	328	-7,224	5	6,089	865	-14	-98	-87	-29	-574	206	91	-24	-	-	-	-	-	-	-	-	0	0	307,991	-201
Net cash used in discontinued operations - financing activities
-	-	-	-	-	-	-	-	0	-	-74	-69	-67	-	-	-	-	-253	-20	-15	-41	9	-346	-89	-516	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest (including Guarantee Fees)
2,500	-	-	-	3,100	-	-	-	-	-	-	15,467	4,133	-	2,605	33,072	2,640	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for income taxes, net of refunds
2,883	6,895	17,755	5,030	6,318	4,866	5,296	14,083	4,120	2,763	5,346	4,913	2,121	56	62	126	46	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:
Accretion on Series B Convertible Redeemable Preferred Stock
-	-	-	-	-	-	0	2,330	2,447	-	2,454	2,405	2,357	-	2,364	4,440	4,510	-	-	-	-	-	-	-	3,844	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion on Series B Convertible Redeemable Preferred Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,476	4,391	4,264	4,141	4,156	4,077	3,959	3,844	3,858	3,785	247	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest (including Guarantee Fees)
Interest paid, excluding capitalized interest, operating activities
-	-	-	-	-	-	3,197	21,747	4,883	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-