| Dec'19 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|
Proceeds from issuance of common stock | |||||||||
- | - | - | - | - | 94,300 | 0 | 475,000 | - | - |
Proceeds from issuance of preferred stock | |||||||||
- | - | - | - | - | 77,241 | 0 | 0 | - | - |
Cash flows from operating activities: | |||||||||
Net (loss) income | |||||||||
61,257 | - | - | -546,494 | 11,769 | 176,083 | -32,729 | 63,860 | 29,402 | -126,702 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
52,554 | - | - | 102,105 | 115,275 | 116,951 | 143,303 | 52,443 | 9,098 | - |
Amortization of right of use assets | |||||||||
24,053 | - | - | - | - | - | - | - | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | - | - | - | 11,136 |
Amortization of debt issuance costs/discounts | |||||||||
894 | - | - | 9,541 | 9,493 | 9,919 | 10,130 | 4,800 | 1,248 | 1,079 |
Amortization of derivative gain | |||||||||
- | - | - | - | - | - | - | - | - | -828 |
Provision for doubtful accounts | |||||||||
4,077 | - | - | 4,501 | 4,302 | 3,349 | 3,694 | 2,736 | 1,271 | 2,386 |
Loss on sale or disposal of assets or stations | |||||||||
55,403 | - | - | -2,856 | 1,342 | 3,685 | -2,277 | -43 | 116 | 29 |
Gain on early extinguishment of debt | |||||||||
381 | - | - | 13,222 | 0 | -34,934 | - | - | - | - |
Non-cash reorganization items, net | |||||||||
0 | - | - | 0 | - | - | - | - | - | - |
Impairment of assets held for sale | |||||||||
6,165 | - | - | - | - | - | - | - | - | - |
Gain on exchange of assets or stations | |||||||||
- | - | - | - | - | 108,158 | 62,967 | 15,278 | - | 7,204 |
Impairment charges - Next Radio investment | |||||||||
- | - | - | 565,584 | 0 | 0 | 127,141 | 0 | 671 | 174,950 |
Deferred income taxes | |||||||||
- | - | - | - | - | - | -18,227 | -61,993 | 3,429 | -23,178 |
Impairment charges - equity interest in Pulser Media Inc. | |||||||||
- | - | - | 19,364 | 0 | 0 | - | - | - | - |
Impairment of intangible assets | |||||||||
15,563 | - | - | - | - | - | - | - | - | - |
Impairment charges - Next Radio Investment | |||||||||
0 | - | - | - | - | - | - | - | - | - |
Fair value adjustment of derivative instruments | |||||||||
- | - | - | - | -21 | 1,829 | -320 | 214 | 9,999 | -771 |
Deferred income taxes | |||||||||
8,654 | - | - | -48,262 | 6,902 | -76,378 | - | - | - | - |
Stock-based compensation expense | |||||||||
5,301 | - | - | 21,033 | 17,638 | 10,804 | 11,893 | 5,855 | 2,451 | 2,879 |
Loss on early extinguishment of debt | |||||||||
- | - | - | - | - | - | 2,432 | 4,366 | - | - |
Other | |||||||||
9 | - | - | - | - | - | - | -1,318 | - | - |
Gain on equity investment in Cumulus Media Partners, LLC | |||||||||
- | - | - | - | - | - | - | 11,636 | - | - |
Changes in assets and liabilities: | |||||||||
Restricted cash | |||||||||
- | - | - | - | - | - | - | - | - | 789 |
Accounts receivable | |||||||||
-3,433 | - | - | -371 | -12,195 | -2,357 | -28,904 | 6,461 | 2,034 | -2,685 |
Trade receivable | |||||||||
-53 | - | - | 1,691 | -1,964 | -2,330 | 653 | -826 | -1,882 | 3,864 |
Prepaid expenses and other current assets | |||||||||
176 | - | - | -16,983 | 14,750 | -1,383 | 6,993 | -7,734 | -306 | 1,422 |
Operating leases | |||||||||
4,592 | - | - | - | - | - | - | - | - | - |
Assets held for sale | |||||||||
-29 | - | - | - | - | - | - | - | - | - |
Other assets | |||||||||
-5,345 | - | - | 6,208 | 6,716 | -1,320 | -7,569 | 2,803 | -2,087 | 328 |
Accounts payable and accrued expenses | |||||||||
-32,067 | - | - | -34,122 | 7,074 | -38,937 | -16,994 | 30,667 | 5,879 | -5,060 |
Trade payable | |||||||||
-177 | - | - | 410 | 118 | -1,516 | -196 | -501 | -1,964 | 3,584 |
Other liabilities | |||||||||
495 | - | - | -10,317 | -27,147 | -7,786 | -19,414 | -1,375 | -1,058 | -1,375 |
Net cash provided by operating activities | |||||||||
104,270 | - | - | 82,432 | 136,796 | 121,141 | 179,490 | 71,751 | 42,553 | 28,691 |
Cash flows from investing activities: | |||||||||
Restricted cash | |||||||||
- | - | - | -2,074 | 3,909 | 225 | 2,067 | 394 | -185 | - |
Purchase of intangible assets | |||||||||
- | - | - | - | - | - | - | - | 246 | - |
Proceeds from sale of assets or stations | |||||||||
- | - | - | - | 15,843 | 0 | 1,897 | 0 | 296 | 102 |
Proceeds from sale of assets or stations | |||||||||
147,058 | - | - | 9,201 | - | 241,519 | 114,918 | - | - | - |
Proceeds from exchange of assets or stations | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Acquisition | |||||||||
0 | - | - | - | 8,500 | 322,838 | 9,998 | 2,024,172 | - | - |
Capital expenditures | |||||||||
29,469 | - | - | 19,236 | 19,006 | 11,081 | 6,607 | 6,690 | 2,475 | 3,110 |
Acquisition costs | |||||||||
- | - | - | - | - | - | - | - | - | 52 |
Net cash provided by (used in) investing activities | |||||||||
117,589 | - | - | -7,961 | -15,572 | -92,625 | 98,143 | -2,031,256 | -2,240 | -3,060 |
Cash flows from financing activities: | |||||||||
Repayments of Long-term Debt | |||||||||
1,242,918 | - | - | 50,000 | 156,125 | 2,111,688 | 174,313 | 1,264,676 | 43,136 | 59,110 |
Borrowings under term loan due 2026 | |||||||||
525,000 | - | - | - | - | - | - | - | - | - |
Repayment of borrowings under term loan due 2026 | |||||||||
1,313 | - | - | - | - | - | - | - | - | - |
Payments For Protection Payments On Debt | |||||||||
0 | - | - | 0 | - | - | - | - | - | - |
Proceeds from exercise of options | |||||||||
- | - | - | - | 620 | 818 | 0 | 0 | - | - |
Redemption of preferred stock | |||||||||
- | - | - | - | - | 150,391 | 49,233 | 41,565 | - | - |
Financing costs paid in connection with issuance of common stock | |||||||||
- | - | - | - | - | 4,541 | 0 | 30,978 | - | - |
Proceeds from issuance of 6.75% senior notes | |||||||||
500,000 | - | - | - | - | - | - | 610,000 | - | - |
Preferred stock dividends | |||||||||
- | - | - | - | - | 9,395 | 15,017 | 521 | - | - |
Proceeds from exercise of warrants | |||||||||
- | - | - | 8 | 113 | 93 | 142 | 171 | - | - |
Debt discount | |||||||||
- | - | - | - | - | - | - | - | 244 | 3,000 |
Financing costs | |||||||||
12,883 | - | - | 0 | 21 | 7,182 | 802 | 58,898 | - | - |
Shares returned in lieu of tax payments | |||||||||
1,171 | - | - | - | - | - | - | - | - | - |
Repayments of financing lease obligations | |||||||||
1,605 | - | - | - | - | - | - | - | - | - |
Proceeds from borrowings under term loans and revolving credit facilities | |||||||||
- | - | - | - | 10,000 | 2,027,308 | 21,000 | 2,289,685 | - | - |
Shares returned in lieu of tax payments | |||||||||
- | - | - | 93 | 1,332 | 337 | 1,952 | 935 | 343 | 107 |
Payments for repurchases of common stock | |||||||||
- | - | - | - | - | - | - | - | - | 193 |
Net cash provided by (used in) financing activities | |||||||||
-234,890 | - | - | -50,085 | -146,745 | -83,774 | -220,175 | 1,977,283 | -43,723 | -62,410 |
Decrease in cash and cash equivalents | |||||||||
-13,031 | - | - | - | - | - | - | - | - | - |
(Decrease) increase in cash and cash equivalents | |||||||||
- | - | - | 24,386 | -25,521 | -55,258 | 57,458 | 17,778 | -3,410 | -36,779 |
Interest paid | |||||||||
- | - | - | 129,314 | 135,392 | 164,893 | 192,083 | 69,558 | 41,416 | 39,381 |
Income taxes paid | |||||||||
- | - | - | 2,620 | 9,633 | 7,310 | 6,658 | 6,148 | 324 | 895 |
Compensation held in trust | |||||||||
- | - | - | - | - | - | 24,807 | 0 | - | - |
Trade revenue | |||||||||
- | - | - | 39,237 | 34,876 | 31,147 | 27,732 | 21,184 | 16,748 | 16,612 |
Trade expense | |||||||||
- | - | - | 40,427 | 36,753 | 31,218 | 26,112 | 20,810 | 16,546 | 16,285 |
Transfer of property and equipment from assets held for sale | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Equity interest in Pulser Media, Inc. | |||||||||
- | - | - | 2,025 | - | - | - | - | - | - |
Transfer of deposit from escrow - Los Angeles land and building sale | |||||||||
- | - | - | 0 | 0 | - | - | - | - | - |
Preferred stock dividends | |||||||||
- | - | - | - | - | - | 2,652 | 3,125 | - | - |
Predecessor Company | |||||||||
Net income | |||||||||
- | -206,565 | -510,720 | - | - | - | - | - | - | - |
Depreciation and amortization | |||||||||
- | 62,239 | 87,267 | - | - | - | - | - | - | - |
Provision for doubtful accounts | |||||||||
- | 5,807 | 1,103 | - | - | - | - | - | - | - |
(Gain) loss on sale or disposal of assets or stations | |||||||||
- | 2,499 | 95,695 | - | - | - | - | - | - | - |
Gain on early extinguishment of debt | |||||||||
- | -1,063 | 8,017 | - | - | - | - | - | - | - |
Non-cash reorganization items, net | |||||||||
- | -25,921 | 0 | - | - | - | - | - | - | - |
Impairment of assets held for sale | |||||||||
- | 0 | 0 | - | - | - | - | - | - | - |
Stock-based compensation expense | |||||||||
- | 1,614 | 2,948 | - | - | - | - | - | - | - |
Accounts receivable | |||||||||
- | 9,469 | -10,740 | - | - | - | - | - | - | - |
Trade receivable | |||||||||
- | -761 | 839 | - | - | - | - | - | - | - |
Prepaid expenses and other current assets | |||||||||
- | 7,655 | 7,017 | - | - | - | - | - | - | - |
Other assets | |||||||||
- | 1,451 | 1,106 | - | - | - | - | - | - | - |
Accounts payable and accrued expenses | |||||||||
- | 46,587 | -16,816 | - | - | - | - | - | - | - |
Trade payable | |||||||||
- | -1,486 | 176 | - | - | - | - | - | - | - |
Other liabilities | |||||||||
- | -5,348 | -13,374 | - | - | - | - | - | - | - |
Net cash provided by operating activities | |||||||||
- | 86,596 | 35,745 | - | - | - | - | - | - | - |
Acquisition | |||||||||
- | 0 | 0 | - | - | - | - | - | - | - |
Capital expenditures | |||||||||
- | 31,932 | 23,037 | - | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | |||||||||
- | -25,842 | 83,898 | - | - | - | - | - | - | - |
Adequate protection payments on term loan | |||||||||
- | 81,652 | 20,000 | - | - | - | - | - | - | - |
Financing costs | |||||||||
- | 91 | 0 | - | - | - | - | - | - | - |
Net cash used in financing activities | |||||||||
- | -88,148 | -19,997 | - | - | - | - | - | - | - |
Decrease in cash and cash equivalents and restricted cash | |||||||||
- | -27,394 | 99,646 | - | - | - | - | - | - | - |
Predecessor [Member] | |||||||||
Amortization of debt issuance costs/discounts | |||||||||
- | 9,394 | 9,961 | - | - | - | - | - | - | - |
Goodwill and Intangible Asset Impairment | |||||||||
- | 335,909 | 604,965 | - | - | - | - | - | - | - |
Deferred income taxes | |||||||||
- | -168,226 | -27,831 | - | - | - | - | - | - | - |
Other | |||||||||
- | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of assets or stations | |||||||||
- | 6,090 | 106,935 | - | - | - | - | - | - | - |
Adequate protection payments on term loan | |||||||||
- | 6,405 | 0 | - | - | - | - | - | - | - |
Proceeds from exercise of warrants | |||||||||
- | 0 | 3 | - | - | - | - | - | - | - |