| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net income (loss) | ||||||||||
179,000 | 211,000 | 262,000 | 62,273 | 39,301 | 48,061 | 18,288 | 28,129 | 9,035 | 23,163 | -23,047 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
80,000 | 54,000 | 52,000 | 45,923 | 36,712 | 30,248 | 24,096 | 23,133 | 26,183 | 30,630 | 32,595 |
Amortization of intangible assets | ||||||||||
115,000 | 21,000 | 25,000 | 16,596 | 11,982 | 8,297 | 336 | 75 | 125 | 479 | 577 |
Amortization of deferred loan costs | ||||||||||
12,000 | 5,000 | 5,000 | 4,884 | 3,194 | 2,970 | 1,903 | 2,723 | 2,943 | 2,051 | 329 |
Accretion of original issue discount and premium related to long-term debt, net | ||||||||||
-1,000 | -1,000 | -1,000 | -779 | -863 | -863 | -9 | 1,127 | 1,353 | 902 | - |
Amortization of restricted stock and stock option awards | ||||||||||
16,000 | 7,000 | 9,000 | 5,099 | 4,019 | 5,012 | 1,974 | 878 | 136 | 332 | 1,388 |
(Payment) accrual of long-term accrued facility fee, net | ||||||||||
- | - | - | - | - | - | - | - | - | -18,307 | -18,307 |
Amortization of program broadcast rights | ||||||||||
39,000 | 21,000 | 21,000 | 19,001 | 14,960 | 12,871 | 11,367 | 11,081 | 13,484 | 15,410 | 15,130 |
Payments on program broadcast obligations | ||||||||||
43,000 | 22,000 | 21,000 | 18,786 | 14,576 | 15,087 | 11,433 | 11,839 | 15,915 | -15,473 | 15,287 |
Common stock contributed to 401(k) | ||||||||||
- | - | - | - | - | 25 | 28 | 26 | 29 | 30 | -147 |
Deferred revenue, network compensation | ||||||||||
- | - | - | - | - | - | -615 | -687 | -938 | -758 | -617 |
Deferred income taxes | ||||||||||
55,000 | 23,000 | -78,000 | 41,386 | 25,770 | 30,938 | 13,165 | 19,229 | 5,085 | 13,910 | -11,219 |
Gain on disposal of assets, net | ||||||||||
54,000 | 17,000 | 74,000 | -329 | -80 | -623 | -765 | 31 | 2,894 | 1,909 | 7,628 |
Loss from early extinguishment of debt | ||||||||||
0 | 0 | -3,000 | -31,987 | 0 | -5,086 | 0 | -46,683 | - | 349 | -8,352 |
Other | ||||||||||
-11,000 | 5,000 | 3,000 | 1,788 | 2,542 | 778 | -3,460 | 1,806 | -1,815 | 319 | -2,574 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-22,000 | 12,000 | 24,000 | 6,107 | 14,787 | 17,442 | 7,391 | 389 | -2,401 | 7,309 | 2,483 |
Prepaid income taxes | ||||||||||
0 | -14,000 | -1,000 | 14,642 | 0 | 0 | - | - | - | - | - |
Other current assets | ||||||||||
7,000 | 3,000 | -1,000 | -2,032 | 3,705 | -4,898 | 1,951 | 372 | -934 | 111 | -3,208 |
Accounts payable | ||||||||||
-1,000 | 1,000 | 2,000 | 518 | -141 | 2,197 | 133 | 274 | -3,666 | -438 | -4,238 |
Employee compensation, benefits and pension cost | ||||||||||
3,000 | 5,000 | -2,000 | 871 | 3,528 | 6,964 | 6,915 | -1,775 | -743 | 2,687 | -72 |
Accrued network fees and other expenses | ||||||||||
-41,000 | 7,000 | 3,000 | -1,723 | 13,789 | 1,685 | -2,385 | 5,716 | 191 | -750 | -2,288 |
Accrued interest | ||||||||||
3,000 | 8,000 | -6,000 | 19,736 | -4,907 | 4,920 | 2,489 | 2,275 | 108 | -5,700 | 3,654 |
Income taxes payable | ||||||||||
-6,000 | 6,000 | 6,000 | 2,145 | -1,123 | 345 | -362 | -883 | -1,008 | -404 | -168 |
Deferred revenue | ||||||||||
3,000 | 0 | -1,000 | 1,130 | -3,972 | 3,249 | -534 | -176 | -485 | -977 | -455 |
Net cash provided by operating activities | ||||||||||
385,000 | 323,000 | 180,000 | 210,085 | 106,719 | 134,219 | 60,239 | 89,372 | 38,173 | 38,126 | 18,903 |
Investing activities | ||||||||||
Acquisitions of television businesses and licenses, net of cash acquired | ||||||||||
2,837,000 | 0 | 416,000 | 431,846 | 185,126 | 461,185 | 36,623 | - | - | - | - |
Proceeds from sale of television stations | ||||||||||
253,000 | 9,000 | 0 | 11,200 | 0 | 0 | - | - | - | - | - |
Proceeds from FCC spectrum auction | ||||||||||
0 | 0 | 91,000 | - | 0 | - | - | - | - | - | - |
Purchases of property and equipment | ||||||||||
110,000 | 70,000 | 35,000 | 43,604 | 24,222 | 32,215 | 24,053 | 24,523 | 24,274 | 19,395 | 17,756 |
Proceeds from asset sales | ||||||||||
3,000 | 0 | 0 | 2,979 | 3,115 | 1,508 | 236 | 1,586 | 3,324 | 284 | 104 |
Proceeds from FCC Repack (Note 1) | ||||||||||
41,000 | 14,000 | 0 | - | - | - | - | - | - | - | - |
Equipment transactions related to spectrum reallocation, net | ||||||||||
- | - | - | - | - | - | - | - | - | -278 | -697 |
Payments of acquisition related liabilities | ||||||||||
- | - | - | - | - | 10,000 | 93 | 129 | 587 | 670 | 805 |
Other | ||||||||||
6,000 | 0 | -10,000 | 18,063 | 149 | 0 | -6 | 240 | 332 | 3 | -229 |
Net cash used in investing activities | ||||||||||
-2,656,000 | -47,000 | -350,000 | -479,334 | -206,382 | -501,892 | -60,527 | -23,306 | -21,869 | -19,506 | -17,531 |
Financing activities | ||||||||||
Proceeds from borrowings on long-term debt | ||||||||||
1,400,000 | 750,000 | 642,000 | 1,656,000 | 0 | 644,000 | 390,926 | 855,798 | 25,500 | 358,010 | - |
Repayments of borrowings on long-term debt | ||||||||||
211,000 | 40,000 | 563,000 | 1,100,000 | 0 | 249,623 | 381,003 | 856,292 | 21,323 | 324,018 | 8,571 |
Payments for the repurchase of common stock | ||||||||||
32,000 | 19,000 | 4,000 | 2,000 | 0 | - | - | - | - | - | - |
Proceeds from issuance of common stock | ||||||||||
0 | 0 | 239,000 | - | 167,313 | 0 | 280 | - | - | 25,518 | - |
Tender and redemption premiums for 2020 Notes | ||||||||||
- | - | - | -27,502 | 0 | 0 | - | - | - | - | - |
Payment of preferred stock dividends | ||||||||||
39,000 | 0 | 0 | - | - | - | - | 16,731 | 6,596 | 14,892 | - |
Deferred and other loan costs | ||||||||||
50,000 | 5,000 | 5,000 | 27,926 | -4 | 9,413 | 7,504 | 17,042 | 741 | 13,114 | 7,450 |
Payment for taxes related to net share settlement of equity awards | ||||||||||
4,000 | 5,000 | 2,000 | 1,452 | 1,105 | - | - | - | - | - | - |
Repurchase of Series D perpetual preferred stock | ||||||||||
- | - | - | - | - | - | - | 25,922 | 13,385 | 60,693 | - |
Net cash (used in) provided by financing activities | ||||||||||
1,064,000 | 681,000 | 307,000 | 497,120 | 166,212 | 384,964 | 2,699 | -60,189 | -16,545 | -29,189 | -16,021 |
Net increase (decrease) in cash | ||||||||||
-1,207,000 | 205,000 | 137,000 | 227,871 | 66,549 | 17,291 | 2,411 | 5,877 | -241 | -10,569 | -14,649 |
Net increase in restricted cash, included in non-current assets | ||||||||||
0 | 752,000 | 0 | - | - | - | - | - | - | - | - |