Townsquare media, inc. (TSQ)
CashFlow / Quarterly
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities:
Net (loss) income, controlling interests

-

-

-

-

-

-

-

-

-

-

-3,051

-

15,816

5,468

-1,461

2,412

16,454

-9,132

96

-

-

-

-530

Net (loss) income, non-controlling interests

-

-

-

-

-

-

-

-

-

-

43

-

47

132

78

-18

1

398

35

-

-

-

0

Net income (loss)

7,860

10,696

-4,790

-16,310

9,691

1,633

-26,589

-27,119

14,290

5,564

-3,008

3,213

15,863

5,600

-1,383

2,394

16,455

-8,734

131

5,037

-33,584

12,124

-530

Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-334

84

-7,164

5,756

178

-6,959

-30,056

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

8,194

10,612

2,374

-22,066

9,513

8,592

3,467

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile income from continuing operations to net cash flows from operating activities
Depreciation and amortization

8,158

5,897

6,508

5,525

4,644

4,409

4,383

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

4,833

3,563

6,383

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

4,833

3,563

6,383

-

5,686

6,003

6,123

5,509

4,784

3,613

3,671

3,911

4,249

4,331

4,387

Amortization of deferred financing costs

397

263

376

376

379

379

382

414

381

380

471

377

394

429

380

394

409

342

575

632

1,266

639

624

Net deferred taxes and other

2,925

4,059

908

-8,053

4,233

3,189

1,330

-19,265

5,279

7,836

-1,930

1,969

10,493

3,683

-907

2,249

11,501

-6,111

98

4,220

6,287

0

0

Provision for doubtful accounts

-1

581

243

2,621

530

965

549

440

622

621

491

799

-189

662

610

1,323

-168

375

-360

636

303

517

447

Stock-based compensation expense

532

660

876

567

597

246

190

151

193

168

188

3,637

206

205

252

0

2,875

1,403

0

0

37,580

0

159

Trade activity, net

2,737

3,003

2,503

3,107

2,857

3,446

3,835

4,498

2,247

2,865

2,144

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of debt

-

-

-

-

-

-

-

-

-

-

-

85

0

427

34

-

-

-

-

-

-

-

-

Non-cash interest expense

0

0

0

-3

-5

-5

-5

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1

258

779

760

Amortization of bond premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-424

-423

-424

-424

-424

Write-off of deferred financing costs

0

7

0

36

0

0

97

0

0

0

83

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of long lived and intangible assets

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of deferred financing costs

0

7

0

36

0

0

97

0

0

0

83

38

-1

339

0

-

-

-

-

-

-

-

-

Net loss (gain) on sale of assets

-143

21

-19

14

3

388

10

266

63

-717

2

-11

426

-1,079

366

134

11,909

-21

7

-4

-222

26

110

Changes in assets and liabilities, net of acquisitions:
Accounts receivable

-38

10,883

-6,862

-3,890

2,177

10,849

-7,902

-3,686

-1,370

13,594

-7,689

-6,498

-2,382

11,403

-6,353

-8,180

2,825

10,597

-8,584

-321

-876

11,520

-3,566

Prepaid expenses and other assets

-6,259

-693

1,847

-542

-382

-1,571

2,865

-1,070

-625

-2,400

4,694

-4,839

-2,683

-1,821

7,332

4,583

-754

1,502

1,474

345

-3,118

3,451

-2,425

Accounts payable

1,234

-1,297

-563

2,600

-6,406

3,215

-2,720

2,219

286

-242

-2,416

-1,225

-6,529

8,513

-2,871

-632

-1,089

1,425

329

-1,291

-1,681

1,913

-1,027

Accrued expenses

1,980

592

-14,617

4,815

1,541

4,527

-7,617

8,746

-5,287

2,830

-1,346

6,563

-5,674

-1,687

-1,460

5,955

-581

-2,887

-830

6,586

-1,077

-1,144

-5,306

Accrued interest

4,433

-4,523

4,607

-4,548

4,596

-4,586

3,549

-3,473

4,585

-4,548

4,543

-4,551

4,584

-5,144

4,853

-4,875

4,878

-14,016

9,678

-9,251

9,169

-9,308

9,224

Other long-term liabilities

-5,903

-1,053

809

-208

-207

-208

-208

-208

-207

-208

-208

-399

-200

-200

-277

-200

3,067

7

10

9

30

0

0

Net cash provided by operating activities - continuing operations

25,652

2,815

4,052

20,100

14,760

7,611

4,589

19,373

17,462

8,517

4,100

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities - discontinued operations

-3,652

-5,354

1,890

5,331

-3,970

-6,618

-5,169

6,544

6,182

-11,047

-143

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

22,000

-2,539

5,942

25,431

10,790

993

-580

25,917

23,644

-2,530

3,957

18,214

26,746

9,473

3,941

11,903

28,438

-34,379

19,981

10,045

26,592

-5,570

14,195

Cash flows from investing activities:
Acquisition of intangibles

-

-

-

-

-

-

-

0

0

0

150

11

0

0

0

45

300

0

32

300

10

-31

231

Purchase of property and equipment

5,617

3,895

5,033

5,446

3,919

4,336

4,420

4,194

3,862

2,762

5,653

-1,790

4,410

5,920

6,496

4,789

4,123

2,679

3,133

2,444

6,459

2,633

1,995

Payments for acquisitions, net of cash acquired

705

3

3

3,657

17,404

3,676

48

15

3,339

354

1,803

-531

1,568

373

0

2,064

67,543

3,933

2,673

21,854

3,373

849

0

Proceeds from insurance settlement

-

-

-

-

-

-

-

-

-

-

-

0

0

0

451

0

0

450

0

-

-

-

-

Proceeds from sale of assets

142

108

63

124

3

673

50

810

-5

11

161

-54

464

320

842

134

18,873

27

53

6

203

52

147

Net cash used in investing activities - continuing operations

-6,180

-3,790

-4,973

-8,979

-21,320

-7,339

-4,418

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities - discontinued operations

0

9,303

1,790

12

-12

24,812

-1,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-6,180

5,513

-3,183

-8,967

-21,332

17,473

-5,438

-4,589

-9,871

-7,024

-7,445

-4,274

-5,514

-5,973

-5,203

-6,764

-53,093

-6,135

-5,785

-24,592

-9,639

-3,399

-2,079

Cash flows from financing activities:
Repayment of bank debt

0

0

0

1,813

0

0

9,519

0

0

0

6,662

1,915

0

16,814

646

0

20,801

532,467

284

284

122,697

510

255

Offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-7

0

99

-6,826

10,045

0

0

Dividend payments

2,067

2,082

2,059

2,059

2,059

2,061

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of employee stock options

-

-

-

-

-

-

-

-

0

92

254

-

0

0

0

-

-

-

-

-

-

-

-

Cash distribution to non-controlling interests

1,282

13

1,287

10

0

506

8

128

244

4

45

6

50

59

29

236

150

35

23

468

0

0

0

Deferred financing costs

-

-

-

-

-

-

-

94

0

0

432

0

0

0

0

-

-

-

-

72

109

125

134

Repayments of capitalized obligations

13

2

1

1

1

2

1

1

2

-480

568

44

43

42

42

41

40

39

39

39

38

39

35

Net cash used in financing activities - continuing operations

-3,512

-1,018

-3,347

-3,883

-2,060

-2,571

-9,528

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities - discontinued operations

0

0

0

0

0

0

-19

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-3,512

-1,018

-3,347

-3,883

-2,060

-2,571

-9,547

-242

-264

5

-7,453

-2,040

-93

-16,865

-717

-265

22,457

32,684

-445

9,092

-34,732

-674

-424

Effect of exchange rate changes

0

0

0

-

-216

89

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes

-

-

-

-

-

-

-

-

-

-

33

-197

-334

153

-499

365

-126

0

0

-

-

-

-

Net increase (decrease) in cash and cash equivalents and restricted cash

12,308

1,956

-588

-

-12,818

15,984

-15,562

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and restricted cash

-

-

-

-

-

-

-

-

-

-

-10,908

-

-

-13,212

-2,478

5,239

-2,324

-7,830

13,751

-5,455

-17,779

-9,643

11,692

Supplemental Disclosure of Cash Flow Information:
Cash payments:
Interest

3,988

13,039

3,889

-

3,719

12,742

4,434

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

12,157

3,157

-

3,308

13,250

3,323

-

3,232

21,912

719

-

1,408

20,435

1,894

Income taxes

145

502

68

-

-536

1,417

32

-

36

239

313

-

1,095

380

435

-

33

358

182

-

20

354

10

Barter revenue  included in net revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

4,656

5,076

-

4,403

3,973

2,992

-

-

-

-

Barter expense  included in direct operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

3,738

3,080

-

3,676

3,516

2,874

-

-

-

-

Common stock, joint venture acquisition

-

-

-

-

-

-

-

-

-

-

513

-

0

0

0

-

-

-

-

-

-

-

-

Barter revenue  included in net revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,656

Barter expense  included in direct operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,377