Entercom communications corp. (ETM)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES:
Net income (loss) available to common shareholders

-420,212

-361,435

231,834

38,065

29,184

26,823

26,024

11,268

71,054

46,436

5,398

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization

45,331

44,288

15,546

9,793

8,419

7,794

8,545

10,839

11,276

12,660

16,600

Net amortization of deferred financing costs (net of original issue discount and debt premium)

157

327

1,371

2,897

3,203

4,165

4,144

4,651

3,592

3,912

1,518

Net deferred taxes (benefit) and other

5,407

-61,798

-263,551

14,688

18,322

19,811

22,422

13,296

-17,345

23,053

999

Tax benefit on exercise of options

-

-

-

0

0

0

0

0

0

0

0

Provision for bad debts

4,549

8,909

3,715

1,330

1,553

1,004

824

390

1,672

990

2,708

Net (gain) loss on sale or disposal of assets

7,640

12,158

-11,853

1,621

2,364

379

1,251

-138

-163

-228

-420

Non-cash stock-based compensation expense

15,882

15,149

9,567

6,539

5,524

5,232

4,270

5,754

7,671

5,528

6,888

Net (gain) loss on investments

-

-

-

0

0

-21

0

-123

-30

-174

-966

Gain Loss On Sale Of Derivatives

-

-

-

0

0

0

0

1,346

-1,346

0

0

Increase Decrease In Deferred Rent Receivables

-

-

-

-138

-1,017

-807

-206

-516

-191

34

9

Increase Decrease In Deferred Revenue

-

-

-

0

-10

-33

-82

-15

5

0

-739

Net loss on extinguishment of debt

-2,046

0

-4,135

-10,858

0

0

0

-747

-1,144

-62

20,805

Deferred compensation

6,118

-1,357

4,247

1,683

584

1,291

2,380

1,762

727

1,614

1,596

Tax benefit for vesting of restricted stock unit awards

-

-

-

0

0

0

0

0

0

0

0

Impairment loss

545,457

493,988

952

254

0

0

850

22,307

0

0

67,676

Accretion expense, net of asset retirement obligation adjustments

65

60

37

27

13

-11

18

-87

88

0

0

Other income

-

-

-

-

-

-

165

118

32

49

380

Changes in assets and liabilities (net of effects of acquisitions, and dispositions):
Accounts receivable

30,856

-1,777

14,127

4,202

4,027

-565

1,678

2,138

-208

3,532

-4,324

Prepaid expenses and deposits

283

-1,431

-14,267

1,368

-642

1,586

743

-1,692

6

-15,828

16,397

Increase Decrease In Income Taxes Receivable

-

-

-

-

-

0

0

-271

-493

-6,818

7,000

Accounts payable and accrued liabilities

-27,777

1,217

8,370

-739

700

1,633

-952

-535

524

-20,012

12,874

Accrued interest expense

3,875

-6,278

4,169

40

769

-132

-523

302

2,926

-195

-1,944

Accrued liabilities - long-term

9,931

21,871

2,414

1,894

-146

1,311

1,140

772

739

2,561

577

Prepaid expenses - long-term

0

0

2,874

4,458

-1,115

398

-200

-657

-537

510

214

Net cash provided by (used in) operating activities

132,188

102,249

29,112

72,030

64,790

65,296

63,349

69,702

85,525

90,410

73,902

INVESTING ACTIVITIES:
Additions to property and equipment

70,476

29,837

20,530

7,336

7,043

8,408

4,325

3,688

5,712

2,744

2,467

Proceeds from sale of radio stations and other assets

29,321

185,761

60,505

7,974

427

2,153

8

29

231

151

106

Purchases of audio assets

40,136

71,434

24,000

92

83,553

0

0

25,325

9,000

0

0

Additions to amortizable intangible assets

7,425

11,949

663

241

1,475

-

-

-

-

-

-

Payments To Acquire non-amortizable intangible assets

-

-

-

112

100

800

475

857

1,185

368

120

Purchases of investments

1,800

1,250

9,700

0

9

0

0

0

0

0

0

Proceeds from sale of property reflected as restricted cash

0

70,187

0

0

9

0

209

482

32

49

39

(Deconsolidation) consolidation of a VIE

0

0

302

-

-

-

-

-

-

-

-

Proceeds from disposition of radio stations

0

0

12,000

0

0

-

-

-

-

-

-

Gain Loss On Contract Termination

-

-

-

-

-

-

0

0

0

0

-380

Proceeds From Insurance Settlement Investing Activities

-

-

-

-

-

0

0

0

0

0

0

Escrow Deposit Disbursements Related to Property Acquisition

-

-

-

-

-

0

0

0

1,350

-1,350

0

CashAcquiredFromAcquisition

-

-

-

302

0

0

-

-

-

-

-

Net cash provided by (used in) investing activities

-90,516

141,478

17,310

495

-91,744

-7,055

-4,583

-29,359

-14,284

-4,262

-2,062

FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt

430,000

0

500,000

480,000

0

0

33,000

36,000

587,500

37,500

39,000

Proceeds From Issuance Of Other Long Term Debt

-

-

-

102

0

0

0

0

0

0

12,610

Borrowing under the revolving senior debt

194,000

80,000

200,500

24,500

58,000

15,500

-

-

-

-

-

Proceeds from Issuance of Unsecured Debt

-

-

-

-

-

-

-

0

217,078

0

0

Payments of long-term debt

521,700

81,348

669,750

293,266

51,250

53,000

86,023

68,529

852,527

116,525

60,023

Payments of revolving senior debt

257,000

0

0

-

-

-

-

-

-

-

-

Payment for debt issuance costs

7,691

0

16,302

8,038

0

0

-

-

-

-

-

Proceeds from issuance of employee stock plan

1,329

1,428

182

379

0

0

-

0

0

0

82

Retirement of perpetual cumulative convertible preferred stock

0

0

27,737

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

244

153

42

265

35

82

245

135

71

130

0

Purchase of vested employee restricted stock units

2,905

5,186

2,565

2,268

1,562

1,514

1,640

1,367

3,057

1,628

104

Payment of dividends on common stock

30,273

49,770

29,296

8,666

0

0

0

0

0

0

0

Payment of dividend equivalents on vested restricted stock units

1,201

873

1,556

-94

-7

0

0

-43

-512

-874

-756

Repurchase of common stock

18,340

30,040

10,042

0

0

-

-

0

0

0

889

Retirement of senior subordinated notes

-

-

-

220,000

0

0

-

0

0

6,579

55,272

Realization Of Tax Benefits For Payment Of Resticted Stock Units

-

-

-

-

-

-

-

0

0

0

321

Deferred financing expenses related to bank facility amendment

-

-

-

-

-

-

1,040

1,241

19,937

5,155

342

Payments Of Stock Issuance Cost

-

-

-

0

220

0

0

-

-

-

-

Payment of dividends on preferred stock

0

0

2,574

1,788

413

0

-

-

-

-

-

PaymentsOfDebtExtinguishmentCosts

-

-

-

5,977

0

0

-

-

-

-

-

Payments for early retirement of Preferred

-

-

-

0

0

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-213,537

-85,636

-59,098

-34,851

4,583

-38,932

-55,458

-35,045

-71,384

-93,131

-65,373

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

-171,865

158,091

-12,676

37,674

-22,371

19,309

3,308

5,298

-143

-6,983

6,467

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest

101,155

96,843

24,813

34,568

34,822

35,593

41,010

48,568

18,393

27,100

-31,643

Income taxes

39,100

54,217

2,030

381

81

79

69

99

82

83

-192

Dividends on common stock

30,273

49,770

29,296

8,666

0

0

0

0

0

0

0

Dividends on preferred stock

0

0

2,574

1,788

413

0

-

-

-

-

-