| Dec'18 | Dec'17 | Dec'16 | Dec'15 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income (loss) | ||||||
-24,394 | -123,042 | -98,412 | -90,544 | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
133,821 | 139,474 | 126,983 | 104,038 | |||
Non-cash interest charges and amortization of debt discount and deferred financing costs | ||||||
17,498 | 65,554 | 47,519 | 9,869 | |||
Non-cash yield on Convertible Preferred Equity Certificates | ||||||
- | - | - | 2,583 | |||
Equity-based compensation expense | ||||||
5,267 | 4,138 | 5,302 | 5,294 | |||
Provision for doubtful accounts | ||||||
4,409 | 3,493 | 2,572 | 1,397 | |||
Deferred income taxes | ||||||
-105 | -23,278 | -69,115 | -14,637 | |||
Unrealized foreign currency gains | ||||||
13,533 | -5,011 | 4,350 | -10,359 | |||
Gain on sale of business | ||||||
0 | 1,785 | 0 | 4,700 | |||
Other | ||||||
5,441 | -194 | -234 | 123 | |||
Changes in operating assets and liabilities, net of effects of acquisitions and disposal: | ||||||
Accounts receivable | ||||||
7,784 | 6,349 | 1,547 | -4,590 | |||
Prepaid expenses and other current assets | ||||||
-1,682 | -1,579 | -4,227 | -3,705 | |||
Other assets | ||||||
-742 | -737 | -4,376 | -4,777 | |||
Accounts payable | ||||||
728 | -3,831 | -807 | -1,582 | |||
Accrued compensation and benefits | ||||||
3,530 | -6,235 | 8,228 | -3,893 | |||
Other accrued expenses | ||||||
-3,466 | 4,068 | -1,564 | -3,548 | |||
Deferred revenue | ||||||
1,808 | 4,887 | -7,362 | -5,342 | |||
Other liabilities | ||||||
1,484 | 4,621 | 1,557 | -67 | |||
Net cash provided by operating activities | ||||||
127,128 | 68,848 | 17,373 | 22,422 | |||
Cash flows from investing activities | ||||||
Purchases of property and equipment | ||||||
14,629 | 10,734 | 7,382 | 5,249 | |||
Software development costs | ||||||
19,804 | 14,953 | 11,738 | 11,307 | |||
Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 | ||||||
66,463 | 78,528 | 804,194 | 4,500 | |||
Proceeds from disposal of business | ||||||
0 | 23,675 | 3,998 | 2,089 | |||
Other | ||||||
24 | -552 | 100 | - | |||
Change in restricted cash | ||||||
- | - | - | -8,303 | |||
Net cash used in investing activities | ||||||
-100,920 | -79,988 | -819,416 | -10,664 | |||
Cash flows from financing activities | ||||||
Acquisition of noncontrolling interests | ||||||
- | - | - | 2,411 | |||
Proceeds from revolving credit facility | ||||||
0 | 5,000 | 33,475 | 33,379 | |||
Repayment of revolving credit facility | ||||||
0 | 38,475 | 0 | 0 | |||
Proceeds from issuance of Convertible Preferred Equity Certificates to Cision Owner | ||||||
0 | 0 | 136,025 | 2,821 | |||
Payment of amounts due to Cision Owner | ||||||
0 | 1,940 | 0 | 2,821 | |||
Proceeds from term credit facility, net of debt discount of $1,013 | ||||||
0 | 1,350,259 | 1,364,070 | 0 | |||
Repayments of term credit facility | ||||||
63,297 | 1,497,838 | 724,930 | 39,320 | |||
Payments of capital lease obligations | ||||||
0 | 171 | 287 | 301 | |||
Payments of deferred financing costs | ||||||
850 | 0 | 0 | - | |||
Proceeds from merger and recapitalization | ||||||
0 | 305,110 | 0 | 85 | |||
Payment of contingent consideration | ||||||
2,873 | 0 | 0 | - | |||
Net cash provided by (used in) financing activities | ||||||
-67,020 | 121,945 | 808,353 | -8,568 | |||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||
-3,073 | 2,714 | -1,781 | -1,161 | |||
Decrease in cash, cash equivalents, and restricted cash | ||||||
-43,885 | 113,519 | 4,529 | 2,029 | |||
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets | ||||||
Interest | ||||||
69,816 | 102,400 | 94,615 | 48,059 | |||
Income taxes | ||||||
-17,538 | -10,250 | -5,582 | -4,680 | |||
Supplemental disclosure of cash flows information | ||||||
Issuance of securities by Cision Owner in connection with acquisitions | ||||||
0 | 7,000 | 40,000 | 0 | |||
Non-cash contribution from Cision Owner in connection with merger | ||||||
0 | 451,139 | 0 | 0 | |||
Issuance of shares for acquisitions | ||||||
20 | 0 | 0 | - | |||