Tribune media company (TRCO)
CashFlow / Quarterly
Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

63,650

113,204

132,833

54,076

84,438

141,183

332,180

-18,687

-30,402

-85,594

18,951

145,765

-161,563

11,093

-380,928

27,858

-3,265

36,417

314,676

37,997

82,922

41,068

Adjustments to reconcile net income to net cash provided by operating activities:
Share-based Compensation

6,000

5,000

6,929

5,593

5,397

5,114

5,501

5,339

7,130

14,963

9,581

9,605

9,510

8,493

8,364

7,333

8,951

7,845

5,824

6,068

6,778

9,248

Pension credit and contributions

-4,298

-4,363

-6,764

-37,763

-31,277

-6,750

-5,512

-5,511

-5,475

-5,549

-6,027

-6,028

-6,062

-5,993

-7,542

-7,292

-7,280

-7,303

-7,661

-14,571

-9,398

-9,534

Depreciation

13,867

12,952

-

-

13,281

13,775

-

-

-

-

-

-

-

14,442

-

19,027

17,966

17,054

-

-

-

-

Depreciation, Including Discontinued Operations

-

-

-

-

-

-

14,553

14,263

13,927

13,571

18,842

18,710

17,519

17,338

-

-

-

-

17,945

21,081

25,631

24,233

Amortization of contract intangible assets and liabilities

-

-

-

-

-

-

220

220

221

208

212

-2,730

-4,045

-4,003

-4,138

-3,763

-3,618

-3,461

-4,046

-13,782

-13,983

-3,963

Amortization of other intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

41,665

-

-

-

-

-

-

-

-

Amortization of other intangible assets

35,018

35,021

41,672

41,675

41,681

41,687

41,678

41,678

41,664

41,659

48,468

49,396

49,421

49,378

-

-

48,437

47,771

48,434

48,908

62,616

62,258

Income (Loss) from Equity Method Investments

46,527

45,685

45,249

32,381

52,568

39,137

38,506

21,058

40,761

37,037

33,861

31,737

44,306

38,252

27,125

36,987

45,913

36,934

38,939

40,562

118,659

37,928

Distributions from equity investments

28,379

153,082

12,665

0

43,789

115,137

20,171

28,303

38,141

111,509

26,970

17,953

36,258

89,346

13,484

27,247

34,242

94,906

16,369

17,690

35,460

120,270

Non-cash loss on extinguishments and modification of debt

-

-

-

-

-

-

0

-1,435

0

-6,823

0

0

0

0

-

-

-

-

-

-

-

-

Original issue discount payments

-

-

-

-

-

-

0

487

0

6,873

0

0

0

0

-

-

-

-

-

-

-

-

Write-downs of investment

-

-

-

-

-

-

-

0

58,800

122,000

-

0

0

0

-

-

-

-

-

-

-

-

Amortization of debt issuance costs and original issue discount

1,856

1,832

1,897

1,894

1,870

1,848

1,885

1,863

1,957

2,170

2,804

2,809

2,773

2,786

2,783

2,785

3,360

3,330

3,325

3,433

3,335

3,340

Gain on sales on spectrum

0

0

0

0

0

133,197

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of business

-

-

-

-

-

-

-1,018

0

-952

35,462

0

0

0

0

-

-

-

-

-

-

-

-

Gain (Loss) on Investments, Excluding Other than Temporary Impairments

0

86,272

0

-5,001

0

3,888

-2,486

5,667

0

4,950

0

0

0

0

103

3,250

8,133

687

371,480

304

2,184

0

Spectrum repack reimbursements

2,274

3,673

-

-

1,698

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairments of real estate

-

-

-

-

-

-

-

-

-

754

0

502

6,766

7,834

-

-

-

-

-

-

-

-

Gain (Loss) on Sale of Properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-97

-

-

-

-

Other non-operating loss (gain), net

-81

927

-15

38

26

-117

-26

0

-71

26

-4,949

-57

75

-496

-5,630

-342

-211

0

3,638

-47

1,295

-157

Change in excess tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-298

-38

-130

-402

-28

0

-80

976

Transfers from (to) restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25

-638

-46

Changes in working capital items:
Accounts receivable, net

16,778

-11,868

23,822

-12,347

22,853

-35,770

28,554

-7,118

12,889

-44,963

43,181

-23,927

14,954

-33,210

39,440

929

8,877

-25,802

34,543

-18,401

11,486

-66,777

Prepaid expenses and other current assets

2,131

6,196

-7,490

-16,579

6,031

10,794

2,909

1,440

-10,091

-4,568

-9,315

18,264

-24,345

-2,775

-17,128

24,313

17,776

12,036

-130

-5,494

-4,352

11,508

Accounts payable

-2,251

3,518

-1,441

-1,103

1,024

-2,881

3,265

-3,105

-2,099

-6,797

4,264

-2,173

-4,950

9,448

41

-11,169

1,169

-5,343

8,072

-8,360

8,814

-5,671

Employee compensation and benefits, accrued expenses and other current liabilities

31,428

-52,889

39,163

-5,488

26,932

-40,925

19,488

-26,401

32,566

-49,580

30,685

-7,795

14,392

-44,797

-1,507

48,136

-1,342

-7,225

-7,338

19,280

9,422

-45,713

Deferred revenue

1,188

171

-1,485

-746

1,104

1,697

-622

925

-400

-2,326

-2,753

5,603

-1,752

-3,941

4,099

7,862

-1,482

-938

425

6,007

3,096

13,661

Income taxes

-46,328

98,181

34,932

-73,984

-32,873

40,144

-38,535

19,954

-52,445

77,201

-49,565

-50,624

137,079

14,406

-82,236

94,658

-44,674

-239,850

268,616

-36,749

3,680

26,044

Change in broadcast rights, net of liabilities

11,439

19,814

33,854

-43,702

9,670

18,942

15,744

-73,535

-6,653

18,546

-4,486

-29,348

2,312

46,949

-91,370

252

-20,257

11,259

4,884

12,333

-856

4,737

Deferred income taxes

4,112

-60,743

11,338

51,036

679

16,726

-259,401

-77,292

-26,022

-115,922

54,875

-17,329

55,767

1,722

-32,879

-101,391

-5,977

172

-109,126

-12,384

-52,550

-5,039

Other, net

-141

972

-4,333

-10,428

295

945

10,739

13,877

6,917

3,517

16,751

-8,492

4,610

18,901

1,777

-10,733

4,642

-3,066

-7,141

-18,829

-5,515

-6,021

Net cash provided by operating activities

52,752

157,511

162,356

85,908

63,546

157,395

51,091

48,797

47,401

75,296

97,625

-54,779

119,020

122,299

18,019

84,303

17,928

-94,306

81,094

26,463

35,200

235,698

Investing Activities
Payments to Acquire Productive Assets

17,229

13,378

28,736

22,505

11,274

13,673

25,409

13,324

13,465

14,634

37,804

26,424

17,583

17,848

25,309

25,058

22,418

16,299

29,552

20,289

21,996

17,601

Spectrum repack reimbursements

2,274

3,673

4,309

5,269

1,698

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments

-

-

-

-

-

-

-

-

-

0

-

0

3,363

88

20,031

100

2,500

411

0

0

525

1,805

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-41

5,026

69,865

109

18,249

69,988

32,782

158,814

Proceeds from Divestiture of Businesses, Net of Cash Divested

-

-

-

-

-

-

0

0

3,068

551,419

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sales of real estate and other assets

-

-

-

-

-

-

83,224

1,489

15,436

44,315

642

473,348

32,216

1,486

-17,120

8,300

8,133

5,617

-

-

-

-

Sale of partial interest in equity investment

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Transfers from restricted cash

-

-

-

-

-

-

-

-

-

-

-

0

-293

-4

-

-1,091

0

0

201,922

-201,922

40

1,069

Proceeds from the sales of investments

47

107,500

0

11,342

0

3,890

0

143,371

0

4,950

0

0

0

0

-

-

-

-

-

-

-

-

Decrease in restricted cash related to acquisition of Local TV

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-201,922

Other, net

-29

948

28

86

-1,599

-16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of investments and real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,632

705

0

Net cash provided by (used in) investing activities

-14,879

96,847

34,632

-5,914

-7,977

-9,767

52,919

308,221

5,844

586,050

-40,001

446,924

11,563

-16,446

-11,795

-16,086

-86,650

-11,202

679,046

-87,645

104,964

22,633

Financing Activities
Long-term borrowings

-

-

-

-

-

-

0

0

0

202,694

0

0

0

0

-

-

-

-

-

-

-

-

Repayments of Long-term Debt

-

-

-

-

-

-

0

113,866

5,416

584,245

6,961

6,961

6,960

6,960

6,960

6,960

1,099,275

1,067

1,502

285,935

10,934

914

Repayment of Senior Toggle Notes (Note 9)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

172,237

Payments of Debt Issuance Costs

-

-

-

-

-

-

0

0

0

1,689

-48

0

162

622

0

-5

20,207

0

-

-

-

-

Payments of dividends

22,114

22,061

21,933

21,929

21,925

21,922

21,837

21,834

21,816

520,849

21,612

22,510

22,959

23,215

23,555

23,620

672,744

0

-

-

-

-

Tax withholdings related to net share settlements of share-based awards

342

8,288

621

42

230

5,493

744

679

298

7,053

13

163

251

4,126

157

433

213

3,618

0

0

0

3,201

Proceeds from stock option exercises

4,387

7,009

856

401

0

581

86

1,218

7,628

2,385

0

0

0

0

0

0

147

19

137

165

1,006

0

Common stock repurchases

-

-

-

-

-

-

-

-

-

-

82,918

82,599

57,610

8,938

67,130

91,536

8,499

172,777

60,211

0

0

0

Contribution from/(distributions to) noncontrolling interests

55

190

0

477

-2

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in excess tax benefits from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-298

-38

-130

-402

-28

0

-80

976

Net cash used in financing activities

-18,014

-23,150

-21,698

-21,093

-22,157

-26,834

-33,064

-134,846

-18,899

-908,757

-111,208

-115,087

-88,579

-43,861

-93,900

-121,408

-699,597

-177,845

-61,604

-33,395

-12,592

-175,376

Net Increase in Cash, Cash Equivalents and Restricted Cash

19,859

231,208

175,290

58,901

33,412

120,794

70,946

222,172

34,346

-247,411

-53,584

277,058

42,004

61,992

-87,676

-53,191

-768,319

-283,353

698,536

-94,577

127,572

82,955

Supplemental Schedule of Cash Flow Information
Interest

25,746

57,329

26,028

56,783

24,161

54,866

21,707

54,430

22,018

54,246

22,783

55,428

22,924

59,065

23,324

25,006

46,388

35,593

35,587

37,665

38,624

28,462

Income taxes, net

65,792

-445

-622

2,348

64,719

-425

76,831

36,993

67,933

752

106,734

143,284

19,481

-3,613

103,575

19,473

49,758

261,914

55,472

54,568

102,684

4,855