Entercom communications corp. (ETM)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
OPERATING ACTIVITIES:
INCOME (LOSS) FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) available to common shareholders

-9,138

-487,535

38,207

25,991

3,125

-386,946

36,948

2,441

-13,878

232,413

3,438

5,864

-9,881

11,399

11,420

10,834

4,412

14,088

8,442

6,747

-93

10,850

6,473

8,137

1,363

9,507

6,875

9,893

-251

7,347

8,177

-3,207

-1,049

13,068

8,231

48,734

1,021

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

12,498

12,079

11,183

10,965

11,104

14,543

10,608

10,666

8,471

7,478

2,904

2,517

2,647

2,341

2,488

2,517

2,447

2,340

2,219

1,905

1,955

1,997

1,956

1,867

1,974

1,988

2,041

2,192

2,324

2,597

2,746

2,737

2,759

2,741

2,771

2,872

2,892

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

97

178

-118

11

86

85

83

80

79

-381

586

580

586

688

706

725

778

799

816

799

789

774

1,108

1,123

1,160

883

1,075

1,077

1,109

1,186

1,173

1,115

1,177

767

941

921

963

Net deferred taxes (benefit) and other

5,874

3,811

5,348

-1,083

-2,669

-19,374

-40,369

3,197

-5,252

-258,630

2,909

3,832

-11,662

-1,409

7,553

7,603

941

8,714

4,986

4,555

67

8,206

4,980

5,912

713

9,342

5,373

7,127

580

11,051

7,908

-4,330

-1,333

1,933

8,720

-28,822

824

Tax benefit on exercise of options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

-

-

-

-

0

0

0

0

0

0

0

0

Provision for bad debts

4,356

1,195

1,535

1,493

326

230

2,966

2,731

2,982

1,973

377

956

409

201

386

386

357

635

354

290

274

105

295

305

299

167

129

195

333

326

31

-23

56

366

612

637

57

Net (gain) loss on sale or disposal of assets

0

4,957

-231

-1,686

4,600

1,302

10,541

154

161

1,302

103

76

-13,334

311

91

755

464

1,647

150

410

157

50

130

162

37

-374

34

1,613

-22

-15

-120

13

-16

-21

-73

-49

-20

Non-cash stock-based compensation expense

1,780

5,751

3,165

3,393

3,573

3,728

3,768

3,740

3,913

4,938

1,558

1,478

1,593

1,879

1,641

1,538

1,481

1,427

1,555

1,431

1,111

1,481

1,257

1,286

1,208

1,290

882

956

1,142

1,772

1,264

1,321

1,397

1,444

1,561

1,526

3,140

Net (gain) loss on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-21

0

0

0

0

0

0

0

-73

-50

0

0

-30

0

0

0

Gain Loss On Sale Of Derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

558

788

-1,346

0

0

0

Increase Decrease In Deferred Rent Receivables

-

-

-

-

-

-

-

-

0

-

-25

44

90

70

36

-128

-116

-537

-125

-195

-160

-144

-248

-177

-238

-80

-40

0

-86

-2

0

-65

-449

-111

-19

-14

-47

Increase Decrease In Deferred Revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-10

0

-5

0

-7

-21

-21

-22

-11

-28

-149

134

0

0

0

0

-5

10

Net loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

-747

0

0

0

-1,144

0

0

0

Deferred compensation

-4,917

2,162

189

965

2,802

-3,619

1,290

846

126

2,005

647

605

990

212

741

382

348

606

-580

78

480

403

17

471

400

793

652

374

561

362

485

55

860

1,003

-805

184

345

Tax benefit for vesting of restricted stock unit awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Impairment loss

1,050

545,457

0

0

0

-

-

-

-

-

-

-

-

192

0

0

62

0

0

0

0

0

0

0

0

0

0

850

0

0

0

22,307

0

0

0

0

0

Accretion expense, net of asset retirement obligation adjustments

15

17

14

17

17

16

13

16

15

378

-104

-247

10

4

11

9

3

0

6

3

4

7

6

-30

6

1

6

5

6

6

8

2

-103

2

2

1

83

Other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

-55

55

72

0

62

31

37

35

33

13

16

11

5

0

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

-77,093

8,141

42,947

52,263

-72,495

24,922

15,416

24,577

-66,692

10,070

2,384

14,941

-13,268

-1,188

492

17,191

-12,293

-2,473

2,418

15,278

-11,196

-4,009

2,724

11,471

-10,751

461

-453

12,396

-10,726

-7,743

4,537

17,372

-12,028

-3,853

-978

14,285

-9,662

Prepaid expenses and deposits

16,448

-4,482

-2,974

-1,069

8,808

1,041

-18,402

11,962

3,968

-16,346

966

-2,019

3,132

-676

-183

-275

2,502

-596

-1,039

-494

1,487

769

-425

-1,192

2,434

-1,101

55

-766

2,555

-812

-1,073

-933

1,126

152

-2,609

14

2,449

Increase Decrease In Income Taxes Receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

-7

-8

-271

15

54

-102

-64

-381

Accounts payable and accrued liabilities

-14,970

-33,728

14,479

4,261

-12,789

-25,258

47,456

-21,187

206

1,387

1,184

6,361

-562

-547

250

1,253

-1,695

-4,459

-93

5,174

78

-4,230

174

5,425

264

-3,182

-1,479

3,753

-44

-2,762

-2,282

5,892

-1,383

-6,825

-1,192

5,568

2,973

Accrued interest expense

14,194

-11,854

12,625

-3,594

6,698

-7,810

6,622

-12,245

7,155

5,928

62

-19

-1,802

-4,709

5,584

-6,506

5,671

-5,019

5,832

-5,802

5,758

-5,734

5,734

-5,805

5,673

-4,834

5,637

-6,988

5,662

-8,017

8,942

-6,445

5,822

2,969

6

-45

-4

Accrued liabilities - long-term

3,392

1,538

832

1,932

5,629

4,261

3,944

13,211

455

976

405

258

775

255

451

323

865

-472

-724

137

913

76

265

309

661

85

317

665

73

-67

407

44

388

602

50

1,184

-1,097

Prepaid expenses - long-term

-

-

-

-

-

-

-

-129

40

2,791

-93

353

-177

1,292

3,506

-69

-271

-455

-4

-540

-116

-8

-5

611

-200

0

0

0

-200

0

0

-457

-200

-678

293

32

-184

IncreaseDecreaseInContractReceivablesNet

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract Liabilities

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

68,092

27,644

46,247

-7,434

65,731

9,069

57,797

-30,502

65,885

3,703

10,484

9,265

5,660

21,045

26,387

944

23,654

22,017

22,861

574

19,338

17,141

19,559

7,555

21,041

16,871

21,256

5,453

19,769

23,148

24,858

3,130

18,566

23,827

24,274

16,178

21,246

INVESTING ACTIVITIES:
Additions to property and equipment

8,626

8,904

22,862

20,088

18,622

6,232

6,582

11,610

5,413

8,474

5,311

4,321

2,424

3,020

2,278

1,073

965

1,069

1,230

2,750

1,994

1,018

2,608

3,149

1,633

823

1,074

1,465

963

1,901

825

81

881

1,672

1,767

1,404

869

Proceeds from sale of radio stations and other assets

0

1,503

3,126

189

24,503

3,886

181,399

15

461

60,487

0

4

14

856

4

3,314

3,800

21

0

399

7

2,073

8

57

15

0

1

7

0

1

9

14

5

0

32

124

75

Purchases of audio assets

-

-

-

-

-

0

56,434

15,000

0

0

0

0

24,000

0

92

0

0

1,901

81,652

0

0

-

-

-

0

0

0

0

0

0

300

25,025

0

0

0

0

9,000

Additions to amortizable intangible assets

1,118

5,422

0

115

1,888

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments To Acquire non-amortizable intangible assets

-

-

-

-

-

-

-

-

1,578

-

0

-270

270

77

-116

4

147

-813

451

208

254

142

20

223

415

471

1

3

0

60

75

720

2

15

87

40

1,043

Purchases of investments

-

-

-

-

-

0

0

0

1,250

0

9,700

0

0

-

-

-

-

9

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Proceeds from sale of property reflected as restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

0

0

0

0

0

-55

55

72

44

62

31

38

34

198

212

16

11

5

0

Gain Loss On Contract Termination

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Proceeds From Insurance Settlement Investing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Escrow Deposit Disbursements Related to Property Acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

-

-

-

-

0

0

0

0

0

0

0

1,350

CashAcquiredFromAcquisition

-

-

-

-

-

-

-

-

0

-

0

0

-302

302

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-9,744

-37,492

-35,503

-21,514

3,993

-11,945

188,183

-26,980

-7,780

64,013

-15,375

-4,346

-26,982

-1,992

-2,438

2,237

2,688

-3,611

-83,333

-2,559

-2,241

913

-2,620

-3,370

-1,978

-1,222

-1,030

-1,399

-932

-1,922

-1,157

-25,614

-666

-1,671

-1,811

-1,315

-9,487

FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-42,000

42,000

0

0

-15,500

2,000

11,000

2,500

10,000

4,000

12,000

7,000

6,000

1,000

29,000

0

469,000

96,000

12,500

10,000

Proceeds From Issuance Of Other Long Term Debt

-

-

-

-

-

-

-

-

0

-

0

0

0

0

0

0

102

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Borrowing under the revolving senior debt

146,749

-

-

-

0

-

-

-

0

-

-

-

22,000

-

-

-

2,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Unsecured Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

0

0

0

0

217,078

0

0

0

Payments of long-term debt

11,878

96,700

-190,000

435,000

180,000

71,330

-17,979

6,672

21,325

612,738

10,004

10,003

37,005

228,004

29,004

15,422

20,836

34,000

15,750

750

750

2,000

10,000

14,000

27,000

18,500

24,008

15,729

27,786

23,008

25,007

10,507

10,007

689,507

115,507

25,506

22,007

Payments of revolving senior debt

20,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of employee stock plan

241

298

288

364

379

377

342

388

321

0

0

1

181

185

194

0

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Proceeds from the exercise of stock options

0

0

2

-2

244

85

3

52

13

20

0

17

5

226

9

27

3

0

4

0

31

40

14

2

26

26

13

76

130

15

31

35

54

2

3

9

57

Purchase of vested employee restricted stock units

1,394

175

4

1,300

1,426

7

7

1,709

3,463

19

43

67

2,436

63

12

51

2,142

35

7

182

1,338

599

7

18

890

473

1

556

610

837

56

173

301

35

46

1,238

1,738

Payment of dividends on common stock

2,692

2,679

2,677

12,487

12,430

12,367

12,487

12,475

12,441

12,746

10,713

2,921

2,916

2,894

2,886

2,886

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Payment of dividend equivalents on vested restricted stock units

529

57

7

654

483

3

4

1,461

-595

1,665

-5

-6

-98

-3

0

0

-91

0

-7

0

0

0

0

0

0

0

0

0

0

0

0

0

-43

-1

-1

-1

-509

Repurchase of common stock

-

-

-

-

-

10,028

0

0

20,012

10,042

0

0

0

-

-

-

-

0

0

0

0

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Retirement of senior subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Realization Of Tax Benefits For Payment Of Resticted Stock Units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Deferred financing expenses related to bank facility amendment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

1,040

0

0

0

1,074

0

0

167

19,937

0

0

0

Payments Of Stock Issuance Cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

220

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of dividends on preferred stock

-

-

-

-

-

-

-

-

0

924

550

550

550

550

413

412

413

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

110,497

-15,094

4,260

-8,987

-193,716

-75,273

-15,499

62,638

-57,502

-38,935

1,685

-1,029

-20,819

17,882

-25,112

-6,744

-20,877

-18,448

26,020

-932

-2,057

-2,559

-7,993

-3,016

-25,364

-9,987

-19,996

-4,209

-21,266

-18,904

-23,841

18,164

-10,464

-23,400

-19,551

-14,236

-14,197

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

168,845

-24,942

15,004

-37,935

-123,992

-78,149

230,481

5,156

603

28,781

-3,206

3,890

-42,141

36,935

-1,163

-3,563

5,465

-42

-34,452

-2,917

15,040

15,495

8,946

1,169

-6,301

5,662

230

-155

-2,429

2,322

-140

-4,320

7,436

-1,244

2,912

627

-2,438

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

9,358

39,992

13,369

29,348

18,446

20,801

38,316

21,229

16,497

5,339

6,220

6,029

7,225

13,522

2,739

15,227

3,080

14,284

3,082

14,595

2,861

14,595

3,038

14,890

3,070

14,632

4,453

17,293

4,632

19,500

3,105

18,937

7,026

4,708

4,238

14,265

-4,818

Income taxes

1,297

20,619

3,935

12,756

1,790

35,396

-15

18,791

45

1,678

175

122

55

42

131

68

140

0

0

65

16

0

0

78

1

0

0

68

1

0

0

0

99

0

0

164

-82

Dividends on common stock

2,692

2,679

2,677

12,487

12,430

12,367

12,487

12,475

12,441

12,746

10,713

2,921

2,916

2,894

2,886

2,886

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Dividends on preferred stock

-

-

-

-

-

-

-

-

0

924

550

550

550

550

413

412

413

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-