Emmis communications corp (EMMS)
CashFlow / Yearly
Feb'20Feb'19Feb'18Feb'17Feb'16Feb'15Feb'14Feb'13Feb'12Feb'11Feb'10
OPERATING ACTIVITIES:
Consolidated net income

51,919

26,079

84,759

13,220

-304

-95,985

48,655

48,251

30,728

-11,539

-118,492

Adjustments to reconcile net income to net cash provided by (used in) operating activities—
Impairment losses on long-lived assets

-

-

265

9,843

-

-

-

-

-

-

-

Discontinued operations

76,957

17,131

-

-

-

-

-

50,080

-4,997

-8,220

641

Gain on sale of radio and publishing assets, net of disposition costs

-

31,817

76,604

23,557

0

0

-

-

-

-

-

Depreciation and amortization

-

-

3,628

4,806

5,797

5,926

4,866

4,722

4,725

6,932

11,203

Amortization of debt discount

-

-

495

743

-

-

-

-

-

-

-

Gain on sale of controlling interest in Merlin Media LLC

-

-

-

-

-

-

-

-

31,865

-

-

Impairment losses

6,479

852

-

-

9,499

67,915

0

11,419

0

-

-

Impairment losses on intangible assets

-

-

-

-

-

-

-

-

-

7,005

-174,642

Loss on debt extinguishment

-512

-779

-2,662

-620

0

-1,455

-653

-4,508

-2,006

-

31,362

Noncash accretion of debt instruments to interest expense

83

82

-

-

-

-

-

-

-

-

-

Noncash accretion of debt instruments to interest expense

-

-

-

-

-743

-3,472

0

-13,240

-4,968

-

-

Amortization of deferred financing costs, including original issue discount

388

1,198

2,536

1,661

1,667

1,227

838

953

819

-

-

Depreciation

1,133

1,391

-

-

-

-

-

-

-

-

-

Impairment of assets held for sale

-

-

0

0

-

-

-

-

-

-

-

Provision for bad debts

191

246

699

377

626

627

510

86

232

669

1,899

Benefit for deferred income taxes

-9,432

-6,619

-12,134

-178

2,100

36,719

-33,176

-6,519

-34,326

1,446

-34,675

Noncash compensation

1,452

1,468

2,654

2,920

4,904

2,813

4,884

2,942

1,092

1,748

2,441

Loss on investments including other-than-temporary impairment

-

-

0

-254

0

-6,682

96

-302

-16,068

-265

47

Loss on disposal of property and equipment

-

-

-

-

-56

0

8

9,877

-797

-3

127

Loss on disposal of assets

-31

-1

69

-124

-

-

-

-

-

-

-

Equity in loss of unconsolidated affiliates

-780

-

-

-

-

-

-

-

-

-

-

Loss on deconsolidation of Digonex Technologies, Inc.

-12,112

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities - discontinued operations

29,440

17,325

-

-

-

-

-68

-95

-3,323

-809

5,563

Changes in assets and liabilities—
Cash paid for acquisitions

-

-

-

-

-

-

-

-

-

-

4,882

Restricted cash

-

-

-

-

-1,276

501

813

1,426

0

-

-

Accounts receivable

1,538

-3,659

-5,191

-3,460

-1,796

6,954

3,256

-632

-4,915

2,052

-4,124

Prepaid expenses and other current assets

8,270

-1,512

631

-1,639

-1,289

1,527

-1,638

-480

-1,290

-83

-14,610

Other assets

8,829

261

507

644

1,583

682

1,831

438

310

202

676

Accounts payable and accrued liabilities

-1,776

-4,203

-9,701

5,131

-1,236

-373

1,704

-4,501

981

1,425

-2,511

Deferred revenue

440

-23

-463

-294

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-133

62

644

-1,608

-791

82

6,785

Income taxes

-9,278

13,982

-121

-76

-117

-30

-686

-1,852

1,865

7,431

-10,017

Other liabilities

-1,533

-781

-2,733

-788

-1,266

-2,390

237

-9,294

-1,110

-1,148

2,943

Net cash provided by (used in) operating activities

-12,653

7,739

-74

19,261

25,114

18,456

24,695

1,845

3,758

19,559

25,662

INVESTING ACTIVITIES:
Purchases of property and equipment

318

227

1,809

2,850

3,388

3,514

3,057

3,364

5,122

3,405

4,645

Cash paid for acquisitions

-

-

-

-

-

136,006

0

0

-

-

-

Proceeds from the sale of assets

-

-

-

-

0

3

11

10,006

160

-

9,109

Proceeds from the sale of assets

-

60,171

80,238

31,980

-

-

-

-

-

-

-

Cash received from investments, net

-

-

-

-

-107

516

659

6,489

0

-

-

Sale of controlling interest in Merlin Media LLC

-

-

-

-

-

-

-

-

130,000

-

-

Distributions from equity method investments

-

-

-

-

-

-

-

73

1,308

43

102

Other

-

-

0

-19

0

185

0

0

-

-

-

Net cash (used in) provided by investing activities - discontinued operations

129,787

-291

-

-

-

-

-1,650

113,760

4,945

-842

-287

Net cash provided by investing activities

129,469

59,653

78,429

29,149

-3,281

-140,218

-5,355

113,986

131,291

-4,204

-603

FINANCING ACTIVITIES:
Payments on long-term debt

46,552

62,538

100,833

55,970

24,228

79,541

24,126

279,716

146,151

29,156

130,660

Proceeds from long-term debt

27,000

2,500

21,690

21,350

11,000

214,000

7,000

181,198

50,941

19,000

83,235

Distributions to noncontrolling interests

-

-

4,871

5,577

5,846

5,428

4,620

5,103

4,152

4,413

3,947

Settlement of tax withholding obligations

396

641

393

539

971

1,466

1,071

220

86

90

69

Proceeds from exercise of stock options and employee stock purchases

805

368

131

115

133

411

325

302

0

-

1

Payments for debt related costs

655

-

1,636

32

1,134

7,849

164

9,343

4,191

-

4,846

Net cash used in financing activities - discontinued operations

-2,217

-5,254

-

-

-

-

-

-

-

-1,176

-2,042

Other

-

-

0

-5

0

0

-

-

3

-

-

Acquisition of rights in and purchase of preferred stock

-

-

-

-

-

-

107

0

31,685

-

-

Net cash used in financing activities

-22,015

-65,565

-85,912

-40,658

-21,046

120,127

-22,763

-112,882

-135,321

-15,835

-58,328

INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

94,801

1,827

-

-

-

-

-

-

-

-

-

NET CHANGE IN CASH CLASSIFIED AS CURRENT ASSETS HELD FOR SALE

-1,095

1,095

-

-

-

-

-

-

-

-

-

NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

95,896

732

-

-

-

-

-

-

-

-

-

INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

-

-

-7,557

7,752

-

-

-

-

-

-

-

Effect of exchange rate on cash and cash equivalents

-

-

-

-

-

-

-8

167

-177

-266

-663

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-

-

-

-

787

-1,635

-3,431

3,116

-449

-746

-33,932

SUPPLEMENTAL DISCLOSURES:
Cash paid for (refund from) —
Interest

4,014

5,765

13,334

15,618

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

16,742

9,781

6,289

21,811

25,368

21,176

22,396

Income taxes

11,478

-467

2,636

112

216

243

-903

2,175

1,007

-7,026

5,110

Noncash financing transactions —
Value of stock issued to employees under stock compensation program and to satisfy accrued incentives

1,502

1,554

2,650

2,920

4,963

5,637

3,074

1,798

1,090

1,756

2,412

Fair value of assets acquired

-

-

-

-

-

-

-

-

-

-

4,882

Cash paid

-

-

-

-

-

-

-

-

-

-

4,882