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

51,919

62,824

11,769

4,356

26,079

39,210

38,093

108,426

84,759

63,815

81,640

10,477

13,220

7,829

-4,460

853

-304

-93,037

-95,771

-96,494

-95,985

44,198

46,632

46,365

48,655

19,830

19,798

56,081

48,251

20,312

73,378

28,548

30,728

0

0

0

Adjustments to reconcile net income to net cash provided by (used in) operating activities—
Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50,080

36,023

31,078

-10,250

-4,997

0

0

0

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

-

-

-

-

31,817

31,761

31,950

108,671

76,604

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

0

0

3,164

-

1,957

2,492

3,449

3,628

3,799

4,051

4,452

4,806

5,158

5,558

5,679

5,797

5,885

5,835

6,023

5,926

5,685

5,421

5,043

4,866

4,817

4,817

4,478

4,722

2,827

2,690

3,823

4,725

0

0

0

Amortization of debt discount

-

0

0

-244

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash accretion of debt

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,419

0

0

0

-

-

-

-

Noncash accretion of debt

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

0

0

0

-

-

-

-

Loss on debt extinguishment

-

-

-

-

-779

-771

-910

-3,433

-2,662

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,508

-1,144

-1,613

-1,012

-2,006

0

0

0

Amortization of deferred financing costs, including original issue discount

-

-

-

-

-

-

-

-

2,536

2,402

2,273

1,885

1,661

1,692

1,699

1,699

1,667

1,614

1,535

1,431

1,227

1,045

902

804

838

0

0

0

-

-

-

-

-

-

-

-

Provision for bad debts

191

-263

-132

-388

246

558

456

1,305

699

959

960

505

377

495

578

530

626

334

336

425

627

858

564

606

510

35

144

162

86

269

295

202

232

0

0

0

Benefit for deferred income taxes

-9,432

-20,551

-5,006

-2,042

-6,619

-17,741

-16,417

-16,290

-12,134

-197

-45

-837

-178

1,477

1,684

1,893

2,100

30,346

33,959

35,216

36,719

-26,217

-30,021

-31,481

-33,176

115

831

-1,950

-6,519

-7,405

-38,250

-35,457

-34,326

0

0

0

Noncash compensation

1,452

1,351

1,376

1,400

1,468

1,862

2,116

2,428

2,654

2,719

2,800

2,753

2,920

2,452

2,655

3,656

4,904

5,354

5,047

3,969

2,813

3,459

3,333

5,169

4,884

4,171

5,070

3,216

2,942

2,641

1,533

1,199

1,092

0

0

0

Loss on disposal of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Net cash provided by operating activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-68

-9

208

-868

-95

-883

-3,424

-2,610

-3,323

0

0

0

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Changes in assets and liabilities—
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

813

0

0

0

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable

1,538

744

-606

360

-3,659

-4,715

-7,577

-9,059

-5,191

-8,659

-7,312

-4,130

-3,460

-2,440

-255

-1,700

-1,796

-796

-848

-319

6,954

9,024

6,095

8,001

3,256

28

1,997

741

-632

154

-2,653

-2,393

-4,915

0

0

0

Prepaid expenses and other current assets

8,270

7,928

235

-780

-1,512

51

-431

-728

631

-1,683

-1,657

-466

-1,639

-1,376

-968

-944

-1,289

-1,210

-1,511

302

1,527

1,018

1,422

-1,729

-1,638

1,865

-273

486

-480

-3,665

-1,866

-39

-1,290

0

0

0

Other assets

8,829

8,989

-1,193

-645

261

454

898

398

507

412

408

517

644

1,082

1,567

1,639

1,583

1,106

178

560

682

1,159

1,616

1,302

1,831

728

271

1,091

438

1,107

1,536

462

310

0

0

0

Accounts payable and accrued liabilities

-1,776

6,474

-158

1,450

-4,203

-1,626

-1,027

-4,266

-9,701

-3,662

-5,616

-2,917

5,131

330

-1,420

-510

-1,236

-1,532

178

-6,628

-373

-1,306

-1,137

6,185

1,704

2,304

-1,425

-5,132

-4,501

-4,830

-2,762

-2,341

981

0

0

0

Deferred revenue

440

331

54

-585

-23

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

0

0

-518

-

343

-526

173

-133

53

608

-101

62

969

-534

211

644

-1,282

600

-732

-1,608

-877

-2,733

900

-791

0

0

0

Income taxes

-9,278

8,259

839

846

13,982

10,165

9,428

9,239

-121

-118

-101

-67

-76

-192

-138

-144

-117

37

61

80

-30

-737

-516

-1,085

-686

-797

-1,570

-996

-1,852

-1,620

1,335

1,424

1,865

0

0

0

Other liabilities

-1,533

-2,317

-2,223

-2,883

-781

-311

-3,088

-1,751

-2,733

-1,964

65

-1,198

-788

-552

180

-179

-1,266

-1,976

-4,438

-2,721

-2,390

-1,771

405

-757

237

-1,369

-2,391

-5,580

-9,294

-7,912

-6,502

-4,316

-1,110

0

0

0

Net cash provided by (used in) operating activities

-12,653

209

11,141

6,820

7,739

6,431

5,755

9,386

-74

6,134

6,380

6,921

19,261

18,116

19,124

25,494

25,114

24,554

26,766

20,999

18,456

19,248

18,562

22,338

24,695

20,398

18,928

8,785

1,845

1,519

-2,285

-404

3,758

0

0

0

INVESTING ACTIVITIES:
Purchases of property and equipment

318

259

268

451

227

685

1,019

1,432

1,809

2,638

2,977

2,845

2,850

2,848

2,818

3,369

3,388

2,892

3,120

3,310

3,514

3,345

2,875

2,666

3,057

3,490

4,265

3,630

3,364

4,398

3,723

4,599

5,122

0

0

0

Proceeds from the sale of assets

-

-

-

-

60,171

60,279

60,270

140,238

80,238

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash received from investments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

659

2,720

2,720

4,739

6,489

0

0

0

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

188

3

-30

185

8

183

192

0

55

41

21

0

0

0

0

-

-

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,650

17,867

26,647

112,978

113,760

94,021

84,662

-877

4,945

0

0

0

Net cash provided by investing activities

129,469

129,292

-704

-571

59,653

59,506

59,194

138,806

78,429

85,711

108,646

29,131

29,149

20,916

-2,474

-3,262

-3,281

-5,651

-5,943

-139,799

-140,218

-137,606

-137,078

-4,099

-5,355

11,675

19,694

114,667

113,986

95,721

217,026

124,004

131,291

0

0

0

FINANCING ACTIVITIES:
Payments on long-term debt

46,552

49,307

35,635

35,055

62,538

60,402

68,238

150,882

100,833

108,389

131,579

52,964

55,970

53,068

27,565

30,062

24,228

22,188

22,649

75,112

79,541

81,436

78,831

23,228

24,126

119,271

125,780

211,680

279,716

184,006

301,383

214,681

146,151

0

0

0

Proceeds from long-term debt

27,000

27,000

27,000

27,000

2,500

3,500

10,500

15,500

21,690

26,040

24,040

23,040

21,350

18,000

16,000

15,000

11,000

11,000

10,000

208,000

214,000

213,000

211,000

11,000

7,000

93,000

95,000

94,000

181,198

99,646

130,139

137,139

50,941

0

0

0

Distributions to noncontrolling interests

-

-

-

4,654

-

-

-

5,520

4,871

4,870

5,757

5,462

5,577

5,718

5,433

5,397

5,846

5,832

5,385

5,415

5,428

4,993

5,334

5,312

4,620

5,372

4,761

5,236

5,103

4,412

4,047

3,576

4,152

0

0

0

Proceeds from the exercise of stock options

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of tax withholding obligations

396

595

630

637

641

555

561

409

393

383

497

411

539

583

724

838

971

823

549

360

1,466

2,028

2,362

2,362

1,071

0

0

0

-

-

-

-

86

0

0

0

Proceeds from exercise of stock options and employee stock purchases

-

-

-

-

-

-

-

-

131

131

156

170

115

115

20

79

133

167

252

228

411

568

491

503

325

274

294

340

302

0

0

0

-

-

-

-

Payments for debt related costs

655

0

0

0

-

-

-

-

1,636

1,636

1,668

1,668

32

32

0

0

1,134

1,134

2,139

8,140

7,849

7,849

6,871

928

164

5,967

5,985

5,999

9,343

3,568

7,133

7,098

4,191

0

0

0

Acquisition of rights in and purchase of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-22,015

-26,509

-14,037

-13,691

-65,565

-62,221

-63,439

-141,116

-85,912

-89,107

-115,305

-37,300

-40,658

-41,291

-17,707

-21,218

-21,046

-18,810

-20,470

119,201

120,127

117,262

118,093

-20,351

-22,763

-38,156

-41,692

-129,011

-112,882

-95,650

-213,984

-119,889

-135,321

0

0

0

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

-

-

-

-7,442

-

-

-

7,076

-7,557

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate on cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8

227

359

32

167

-297

-803

-395

-177

0

0

0

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,259

-1,057

1,014

787

93

353

401

-1,635

-1,096

-423

-2,090

-3,431

-5,856

-2,711

-5,527

3,116

1,293

-46

3,316

-449

0

0

0

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

4,014

4,113

4,624

4,968

5,765

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

0

0

15,151

-

16,257

16,272

16,287

16,742

16,289

15,799

12,732

9,781

7,527

5,399

5,960

6,289

8,794

9,719

15,814

21,811

22,464

28,768

28,322

25,368

0

0

0

Income taxes

11,478

11,987

3,586

3,359

-467

-9

3,004

2,852

2,636

2,178

-19

149

112

112

112

116

216

216

216

181

243

355

144

41

-903

-188

640

1,315

2,175

1,078

815

642

1,007

0

0

0

Noncash financing transactions —
Stock issued to employees and directors

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Value of stock issued to employees under stock compensation program and to satisfy accrued incentives

-

-

-

-

-

-

-

-

2,650

2,719

2,795

2,768

2,920

3,138

3,722

4,371

4,963

4,642

3,952

3,207

5,637

5,591

6,211

6,094

3,074

3,432

2,151

2,251

1,798

1,251

1,574

1,237

1,090

0

0

0