Sinclair broadcast group, inc. (SBGI)
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
CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

151,000

87,000

-48,154

43,154

23,000

208,000

64,696

29,310

43,994

444,697

32,565

46,035

70,703

122,500

52,033

50,600

25,629

60,830

44,034

46,399

24,836

97,089

48,768

41,601

27,657

4,237

36,651

18,059

16,870

59,395

26,352

30,132

29,074

23,242

19,331

18,477

15,127

Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation of property and equipment

24,000

28,000

23,675

22,325

23,000

30,000

24,558

23,117

27,325

24,974

24,442

23,603

23,981

24,199

25,886

24,409

24,035

27,495

25,476

25,273

25,189

28,319

25,342

25,252

24,378

23,446

17,281

15,168

14,659

13,344

13,171

12,726

9,630

9,428

7,673

7,927

8,125

Amortization of definite-lived intangible and other assets

150,000

144,000

95,999

44,001

43,000

44,000

44,278

43,117

43,605

46,701

43,368

43,377

45,554

46,598

47,807

45,625

43,765

42,015

40,014

39,445

39,980

41,301

34,478

24,989

24,728

22,093

17,179

15,546

16,002

11,794

10,852

10,126

5,899

4,028

4,393

5,011

4,797

Impairment of goodwill, intangible and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

398

Recognition of deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,264

4,670

3,728

Amortization of program contract costs and net realizable value adjustments

23,000

22,000

21,979

22,021

24,000

25,000

24,340

24,710

26,950

28,038

28,047

28,896

31,019

31,158

32,441

30,821

33,460

34,605

29,841

29,782

30,391

30,492

28,622

23,574

23,941

24,179

19,035

18,686

19,025

17,696

14,500

15,467

14,280

13,962

12,833

12,666

12,618

Stock-based compensation

17,000

7,000

6,364

8,636

11,000

5,000

7,260

6,784

6,956

3,095

1,457

3,877

7,571

3,469

3,501

3,641

6,328

3,537

3,201

4,520

7,057

2,863

3,003

3,661

4,769

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax benefit

22,000

46,000

-53,985

985

2,000

-33,000

3,171

-56,829

-16,342

-145,715

-5,074

-3,942

-4,269

-513

9,428

-1,840

-957

-8,823

-2,255

-7,405

-9,963

-24,032

33,783

-3,208

-7,361

24,004

2,448

-3,087

-847

8,836

2,246

3,215

-5,984

18,673

9,434

9,947

5,918

Gain on asset disposition and other, net of impairment

32,000

12,000

28,205

13,795

8,000

-5,000

-1,777

5,453

20,324

225,469

34

150

53,347

47

3,311

11

2,660

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from equity method investments

-6,000

-

-

-

-14,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from investments

24,000

-

-

-

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from equity method investments

-

-

-

-

-

-

-24,948

-17,349

-12,703

-

-5,057

1,425

-1,504

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of sports programming rights

391,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sports programming rights payments

612,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from extinguishment of debt

2,000

-

-

-

0

-

-

-

-

-

-

0

-1,404

-19,824

-3,875

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in assets and liabilities, net of acquisitions:
Decrease in accounts receivable

-34,000

-7,000

-57,514

10,514

-16,000

-11,000

45,029

29,475

-26,504

44,167

-28,462

27,838

-1,543

-5,400

30,876

73,160

-26,918

39,229

2,870

16,186

-19,619

61,629

-10,214

10,336

-17,498

53,276

9,235

14,266

13,858

33,026

-8,825

7,394

-8,370

15,070

-4,183

8,308

-7,579

Decrease in income taxes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-225

-

-

-

-

Decrease (increase) in prepaid expenses and other current assets

-44,000

-29,000

30,643

2,357

23,000

-10,000

-7,796

9,443

18,353

7,743

363

-4,645

5,539

-3,375

-1,273

-13,316

18,933

-8,169

-7,112

8,283

10,472

-11,355

1,927

49,640

-37,997

-12,220

941

-977

3,961

-3,015

892

1,330

9,153

9,020

-1,507

2,797

139

Increase in other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,901

25,650

-395

894

-169

-9

531

Decrease in accounts payable and accrued and other current liabilities

-240,000

124,000

185,811

42,189

-18,000

-30,000

-31,064

93,537

-8,473

63,237

-4,827

35,535

-58,945

23,800

17,383

7,971

10,932

-24,030

33,034

-11,721

-13,185

-20,924

76,712

-16,957

16,626

-20,070

46,200

-31,865

13,689

14,248

16,403

-11,113

16,347

-23,762

18,921

-3,639

17,358

Net change in net income taxes payable/receivable

-34,000

-54,000

-41,474

-32,526

1,000

9,000

-7,570

47,329

241

-21,429

8,090

-62,174

32,513

27,225

-17,800

-465

9,854

-2,420

-15,396

-8,767

29,786

-13,316

4,574

28,512

-11,517

-3,755

3,058

-4,681

441

-16,103

-3,010

-53

10,016

-6,139

1,194

1,947

2,218

(Decrease) increase in other long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,551

194

-88

-1,364

-45

2,282

40

Decrease in program contracts payable

23,000

22,000

23,193

24,807

24,000

25,000

19,084

35,424

28,492

26,501

27,347

28,552

28,600

26,881

27,383

28,627

28,615

26,463

26,918

28,052

27,624

24,177

22,124

23,415

23,966

22,673

22,032

23,012

22,363

17,749

17,204

18,488

16,620

14,580

15,828

18,140

18,771

Real estate held for development and sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,038

6,593

3,703

2,349

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-18,000

-26,000

-17,102

-13,898

-14,000

-9,000

-17,767

-5,584

-4,649

-4,207

-4,490

-9,753

-4,550

-2,129

-6,345

-3,363

-4,259

-13,242

1,799

-1,390

1,762

-1,026

10,011

-3,394

-3,859

-1,372

13,900

651

-10,045

28,063

-4,334

-4,850

-5,092

-10,312

6,013

-6,604

-3,948

Net cash flows (used in) from operating activities

-39,000

422,000

271,309

123,691

99,000

274,000

117,844

154,213

100,943

153,789

136,929

71,640

69,642

281,330

120,602

75,643

134,015

89,206

133,474

66,395

113,852

74,202

178,413

43,724

136,260

9,938

97,269

3,668

49,702

74,171

83,029

12,792

67,483

20,163

60,081

13,312

54,957

CASH FLOWS USED IN INVESTING ACTIVITIES:
Acquisition of property and equipment

46,000

60,000

34,405

32,595

29,000

27,000

25,732

30,049

22,219

28,537

21,956

12,733

20,774

25,864

18,815

23,935

25,851

18,945

25,414

23,414

23,648

23,307

31,564

14,680

11,907

14,612

11,610

9,684

7,482

13,829

11,684

11,737

6,736

9,041

6,138

14,571

6,085

Purchase of alarm monitoring contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

11,063

7,527

14,599

7,017

7,845

14,667

10,929

5,744

12,054

7,812

3,512

4,323

11,793

5,644

4,360

1,924

5,111

1,716

2,592

3,035

1,920

2,498

2,677

1,755

Investments in equity investees

-

-

-

-

-

-

-

-

-

-

1,612

17,610

3,080

17,023

12,381

1,969

19,874

1,647

5,259

34,864

2,945

146

1,791

4,013

2,154

562

6,803

1,644

1,758

17,876

428

245

5,503

2,163

1,120

230

8,064

Distributions from investments

-

-

-

-

-

-

9,495

4,343

9,162

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Spectrum repack reimbursements

24,000

-

27,881

14,119

8,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

-

-

-

-

1,201

241,470

20,329

8,000

-199

2,752

38,445

384,659

1,497

15,514

-150

150

-

-

-

-

-

-

-

-

544,431

30

385,265

205,622

-

-

-

-

Proceeds from sale of non-media business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-29,510

7,398

8,689

24,945

-42,652

42,651

-38,500

-20,000

38,502

20,001

0

-5,058

Proceeds from the sale of assets

18,000

-

-

-

0

-

-

-

-

-182

541

-508

195,149

-

-

-

-

-

-

-

-

-

-

-

-

21,746

0

13,680

14,312

-

-

-

-

-

25

15

26

Distributions from equity investees

-

-

-

-

-

-

-

-

-

-

-

1,023

3,272

-

-

-

-

-

-

-

-

-

-1,522

-2,261

739

-

-

1,043

2,228

-

-

-

-

1,166

1,284

516

832

Proceeds from termination of life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17,042

-

-

-

-

-

-

-

-

-

-

-

-

Loans to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-39,000

0

0

19,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

199

500

-

56

26

61

Purchases of investments

25,000

25,000

383,406

15,594

28,000

18,000

11,404

10,846

7,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from insurance settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,736

Proceeds from the sale of real estate investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,516

-

-

-

-

-

-

-

-

Other, net

-6,000

-2,000

595

3,405

-2,000

-7,000

3,944

-87

143

-7,414

373

4,633

8,408

5,842

3,998

-5,134

-2,265

15,593

436

-7,077

-4,574

8,148

-4,900

-355

1,363

6,388

-9,550

1,364

889

-

-

-

-19

-

-

-

-

Proceeds from loans to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

91

417

-

35

28

89

Net cash flows used in investing activities

-23,000

-53,000

-9,395,551

-34,449

-47,000

-31,000

-31,127

-34,923

-20,950

-37,648

48,279

-54,790

158,159

-52,001

-29,077

-73,814

-454,636

-23,778

-37,640

-61,980

-27,913

-250,494

-1,115,556

-29,340

-1,966

-494,499

-430,106

-111,694

-14,942

-540,021

-52,867

-355,436

-200,960

-54,714

-32,123

-17,187

-8,224

CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing

873,000

503,000

9,452,491

509

0

-

-

-

-

-41

2,952

0

163,089

13,600

403,757

8,705

598,850

3,406

14,628

356,987

7,866

439,230

958,766

96,839

5,885

1,079,478

36,471

1,061,216

101,128

631,548

60,573

370,652

184,482

15,384

3,398

4,618

128,333

Repayments of notes payable, commercial bank financing, and finance leases

20,000

521,000

606,446

97,554

11,000

13,000

11,923

125,127

16,950

21,691

17,141

16,746

284,422

20,452

374,412

18,345

261,230

20,043

14,624

335,425

25,055

296,347

265,303

14,718

6,396

511,675

6,361

879,101

112,623

83,511

62,501

9,815

23,529

15,297

10,580

62,856

61,714

Repurchase of outstanding Class A Common Stock

176,000

20,000

-34

20,034

105,000

175,000

46,000

0

0

-

-

-

-

-

-

-

-

0

21,020

0

7,803

24,719

26,067

0

82,371

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options, including excess tax benefits of share based payments of $0.5 million and $0.2 million, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48

0

279

-

-114

107

1,737

Dividends paid on Class A and Class B Common Stock

18,000

18,000

18,235

18,765

18,000

19,000

18,206

18,402

18,392

17,951

18,305

18,487

16,257

16,242

16,886

17,106

15,675

15,629

15,640

15,749

15,715

15,781

16,038

14,588

14,696

14,829

14,966

14,924

12,048

92,607

12,041

9,616

9,588

9,420

9,712

9,633

9,591

Proceeds from the sale of Class A Common Stock

-

-

-

-

-

-

-

-

-

117

0

0

487,883

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Class A Common Stock sold by variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,616

-1,808

Noncontrolling interests distributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,890

-341

-3,693

-260

-317

-225

-385

-9,329

-408

-272

-374

-88

-264

-104

-203

-39

Redemption of redeemable subsidiary preferred equity

-198,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,343

1,662

3,183

3,519

1,118

-36

119

4,282

Distributions to noncontrolling interests, net

3,000

-

-

-

2,000

-

-

-

-

-

-

-

-

2,101

4,193

1,657

2,513

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to redeemable noncontrolling interests

378,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of notes and capital leases to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

414

-

760

744

725

697

807

854

852

Other, net

-9,000

-40,000

3,690

-1,690

-1,000

2,000

3,144

152

-2,296

5,357

-3,053

15,580

-17,884

2,806

6,542

24

-7,259

7,339

-521

-3,492

-5,071

-2,289

4,940

-489

1,251

928

-444

-766

1,486

-

-

-

-

-

-

-

-

Net cash flows from (used in) financing activities

71,000

-435,000

9,594,534

-135,534

-137,000

-207,000

-79,001

-141,361

-37,638

-36,453

-68,255

-37,701

332,409

-77,415

-90,707

-39,626

312,173

-34,845

-41,024

2,321

-45,778

94,624

640,947

63,351

-96,587

535,671

11,019

633,013

-31,800

444,090

-16,615

346,920

147,312

-13,849

-17,883

-68,940

55,400

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

9,000

-66,000

470,292

-46,292

-85,000

36,000

7,716

-22,071

42,355

79,688

116,953

-20,851

560,210

151,914

818

-37,797

-8,448

30,583

54,810

6,736

40,161

-81,668

-296,196

77,735

37,707

51,110

-321,818

524,987

2,960

-21,760

13,547

4,276

13,835

-48,400

10,075

-72,815

102,133