| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||||
139,966 | 127,460 | 6,837 | 23,832 | 62,842 | 32,305 | 64,856 | 136,013 | -38,203 | 108,718 | 19,901 | -57,338 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Restructuring charge | |||||||||||
- | - | - | 16,518 | 0 | 0 | - | - | - | - | - | - |
Pension settlement expense | |||||||||||
0 | 0 | 102,109 | 21,294 | 40,329 | 9,525 | 3,228 | 47,657 | 0 | 0 | - | - |
Impairment of assets | |||||||||||
- | - | - | - | - | - | 34,300 | 194,732 | 164,434 | 16,148 | 4,179 | 197,879 |
Multiemployer pension plan charges | |||||||||||
- | - | - | 11,701 | 9,055 | 0 | 14,168 | 0 | 4,228 | - | - | - |
Gain on insurance settlement | |||||||||||
- | - | - | - | - | 1,859 | 0 | 0 | - | - | - | - |
Early termination charge | |||||||||||
- | - | - | - | - | 2,550 | 0 | 0 | - | - | - | - |
Pension withdrawal expense | |||||||||||
- | - | - | - | - | - | - | - | - | 6,268 | 78,931 | - |
Other expense | |||||||||||
- | - | - | - | - | - | - | 2,620 | 4,500 | 0 | 34,633 | - |
Gain on sale of investments | |||||||||||
- | - | - | - | - | - | - | 220,275 | 71,171 | 9,128 | 0 | - |
Impairment on investments | |||||||||||
- | - | - | - | - | - | - | 5,500 | 0 | 0 | - | - |
Premium on debt redemption | |||||||||||
- | - | - | - | - | - | - | - | -46,381 | 0 | -9,250 | - |
Loss/(gain) on sales of New England Media Group & About Group | |||||||||||
- | - | - | - | - | - | 47,561 | 96,675 | 0 | - | - | - |
Loss on sale of Regional Media Group | |||||||||||
- | - | - | - | - | - | - | 5,441 | 0 | 16 | 34,914 | - |
Net pension curtailment gain | |||||||||||
- | - | - | - | - | - | - | - | - | - | 53,965 | - |
Gain on sale of assets | |||||||||||
- | - | - | - | - | - | - | - | - | - | 5,198 | - |
Depreciation and amortization | |||||||||||
60,661 | 59,011 | 61,871 | 61,723 | 61,597 | 79,455 | 85,477 | 103,775 | 116,454 | 120,950 | 133,775 | 144,409 |
Amortization of right of use asset | |||||||||||
7,384 | - | - | - | - | - | - | - | - | - | - | - |
Stock-based compensation expense | |||||||||||
12,948 | 12,959 | 14,809 | 12,430 | 10,588 | 8,880 | 8,741 | 4,693 | 8,497 | 7,029 | 11,250 | 15,431 |
(Gain)/loss from joint ventures | |||||||||||
0 | 10,764 | 18,641 | -36,273 | -783 | -10,980 | -3,619 | -2,586 | -3,435 | 10,710 | 17,892 | 169 |
Deferred income taxes | |||||||||||
-4,242 | -4,047 | -105,174 | 13,128 | 10,102 | 10,621 | -44,102 | -1,380 | -65,045 | -61,271 | -44,431 | 18,958 |
Long-term retirement benefit obligations | |||||||||||
-22,914 | -46,877 | -184,418 | -56,942 | -15,404 | -37,334 | -112,133 | -143,724 | -144,613 | -167,498 | 13,936 | -2,981 |
Fair market value adjustment on life insurance products | |||||||||||
3,461 | -821 | -4,047 | - | - | - | - | - | - | - | - | - |
Uncertain tax positions | |||||||||||
-4,627 | -138 | -4,343 | - | 1,627 | 17,310 | 1,387 | -1,049 | - | - | - | - |
Other-net | |||||||||||
-1,186 | 456 | -1,056 | 4,525 | -11,494 | -12,141 | -11,541 | -10,786 | 462 | -5,611 | -9,816 | -17,196 |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable-net | |||||||||||
-9,062 | 37,579 | -12,470 | -9,825 | -5,510 | 10,166 | -3,148 | -5,130 | -12,603 | -39,830 | -52,817 | -42,093 |
Inventories | |||||||||||
- | - | - | - | - | - | - | -6,806 | 4,955 | -171 | -8,324 | -2,065 |
Other assets | |||||||||||
3,355 | -18,241 | 30,527 | -1,599 | -22,141 | -507 | -1,851 | 8,477 | -1,820 | 572 | -15,798 | -2,752 |
Accounts payable, accrued payroll and other liabilities | |||||||||||
-13,197 | 20,490 | 10,012 | -32,276 | -22,833 | -33,911 | -83,072 | 18,429 | -97,007 | -20,137 | -75,432 | -60,962 |
Unexpired subscriptions | |||||||||||
4,375 | 8,990 | 8,368 | 6,502 | 1,448 | 729 | 1,203 | 3,962 | 2,941 | -4,608 | -2,387 | -587 |
Net cash provided by operating activities | |||||||||||
189,898 | 157,117 | 86,712 | 103,876 | 179,075 | 80,491 | 34,855 | 79,310 | 73,927 | 153,327 | 247,253 | 246,438 |
Cash flows from investing activities | |||||||||||
Purchases of marketable securities | |||||||||||
572,337 | 470,493 | 466,522 | 566,846 | 818,865 | 777,945 | 860,848 | 439,700 | 279,721 | 29,974 | 0 | - |
Maturities of marketable securities | |||||||||||
707,632 | 434,012 | 548,461 | 725,365 | 818,262 | 506,711 | 447,350 | 409,726 | 204,849 | 0 | 0 | - |
Cash distribution from corporate-owned life insurance | |||||||||||
- | - | - | 38,000 | 0 | 0 | - | - | - | - | - | - |
Business acquisitions | |||||||||||
- | - | - | 40,410 | 0 | 0 | - | - | - | - | - | - |
Proceeds from sale of business | |||||||||||
- | - | - | - | - | - | -68,585 | -456,158 | 0 | - | - | - |
Proceeds from sale of investments – net | |||||||||||
-85 | -12,447 | -15,591 | 1,955 | 5,068 | -7,331 | -12,004 | -250,918 | -117,966 | -9,254 | 1,338 | -12,218 |
Capital expenditures | |||||||||||
45,441 | 77,487 | 84,753 | 30,095 | 26,965 | 35,350 | 16,942 | 34,888 | 44,887 | 33,565 | 51,056 | 166,990 |
Proceeds from insurance settlement | |||||||||||
- | - | - | - | - | - | 0 | 0 | - | - | - | - |
Change in restricted cash | |||||||||||
- | - | - | - | -1,521 | 1,401 | 3,806 | -3,287 | 27,628 | 0 | 0 | - |
Other-net | |||||||||||
-3,273 | -426 | -1,323 | -409 | -412 | -1,942 | 0 | -1,312 | - | - | - | - |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | |||||||||||
- | - | - | - | - | 26,005 | 0 | 0 | - | - | - | - |
Proceeds from the sale of assets | |||||||||||
- | - | - | - | - | - | - | - | 11,167 | 2,265 | 26,543 | - |
Proceeds from sale of Regional Media Group | |||||||||||
- | - | - | - | - | - | - | - | - | - | 45,424 | - |
Loan repayments | |||||||||||
- | - | - | - | - | - | - | - | - | -11,500 | 11,500 | - |
Acquisitions, net of cash acquired of $2,353 in 2008 | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 5,737 |
Net cash used in investing activities | |||||||||||
93,212 | -101,095 | 14,100 | 124,468 | -30,703 | -324,717 | -353,657 | 646,813 | -18,254 | -40,520 | 8,073 | -160,509 |
Cash flows from financing activities | |||||||||||
Long-term obligations: | |||||||||||
Repayment of debt and finance lease obligations | |||||||||||
252,559 | 552 | 552 | 189,768 | 223,648 | 38,857 | 19,959 | 81,584 | 590 | 592 | 98,958 | 49,561 |
Proceeds from sale-leaseback financing | |||||||||||
- | - | - | - | - | - | - | - | - | - | 210,502 | - |
Redemption of long-term debt | |||||||||||
- | - | - | - | - | - | - | - | 250,000 | 0 | 250,000 | - |
Dividends paid | |||||||||||
31,604 | 26,418 | 26,004 | 25,897 | 26,599 | 24,858 | 6,040 | 0 | 0 | - | - | 108,541 |
Capital shares: | |||||||||||
Proceeds from stock option exercises | |||||||||||
4,520 | 41,288 | 4,601 | 761 | 103,026 | 1,120 | 5,086 | 730 | 364 | 1,010 | 443 | - |
Commercial paper borrowings - net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -111,741 |
Proceeds from issuance of senior unsecured notes | |||||||||||
- | - | - | - | - | - | - | - | - | 220,248 | 221,322 | - |
Repurchases | |||||||||||
- | - | - | 15,684 | 69,293 | 0 | 0 | - | - | - | 489 | 231 |
Windfall tax benefit related to stock-based payments | |||||||||||
- | - | - | 3,193 | 2,303 | 1,209 | 1,654 | 0 | 0 | - | - | - |
Share-based compensation tax withholding | |||||||||||
15,648 | 10,494 | 4,064 | 9,629 | 3,749 | - | - | - | - | - | - | - |
Proceeds from sale of warrants | |||||||||||
- | - | - | - | - | - | - | - | - | - | 20,529 | - |
Repayments under revolving credit agreements net | |||||||||||
- | - | - | - | - | - | - | - | - | - | 380,000 | -185,000 |
Other financing proceeds - net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 3,839 |
Net cash used in financing activities | |||||||||||
-295,291 | 3,824 | -26,019 | -237,024 | -217,960 | -61,386 | -19,259 | -80,854 | -250,226 | 220,666 | -276,651 | -81,235 |
Net decrease in cash, cash equivalents and restricted cash | |||||||||||
-12,181 | 59,846 | 74,793 | -8,680 | -69,588 | -305,612 | -338,061 | 645,269 | -194,553 | 333,473 | -21,325 | 4,694 |
Effect of exchange rate changes on cash | |||||||||||
-100 | -983 | 593 | -237 | -1,243 | -526 | 316 | 70 | 36 | -325 | 1,061 | 558 |
Cash payments | |||||||||||
Interest, net of capitalized interest | |||||||||||
28,049 | 28,133 | 27,732 | 39 | 41,449 | 54,252 | 54,821 | 60,005 | 98,336 | 76,748 | 68,976 | 50,086 |
Income tax payments/(refunds) – net | |||||||||||
30,407 | -1,070 | 21,552 | 45 | 21,078 | 21,325 | 42,792 | -6,627 | -22,757 | 18,948 | -23,692 | 27,490 |
Noncash Investing Activities | |||||||||||
Amount received from escrow | |||||||||||
- | - | - | - | - | - | 7,000 | 14,000 | - | - | - | - |