Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net income (loss) $ (23,327) $ (132)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Non-cash stock-based compensation 1,289 363
Depreciation and amortization 12,096 13,634
Amortization of deferred financing costs 766 855
Non-cash lease expense 6,735  
Accretion of acquisition-related deferred payments and contingent consideration 2 24
Provision for bad debts 1,407 1,498
Deferred income taxes 487 (301)
Change in the estimated fair value of contingent earn-out consideration (40) 72
Impairment of indefinite-lived long-term assets other than goodwill 1,915  
Gain on early retirement of long-term debt (426) (234)
Net (gain) loss on the disposition of assets 21,212 4,400
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue (2,363) (3,829)
Inventories (372) (161)
Prepaid expenses and other current assets 338 (560)
Accounts payable and accrued expenses 4,504 7,224
Deferred rent expense   (235)
Operating lease liabilities (7,983)  
Contract liabilities (1,710) (2,380)
Deferred rent income (130) (69)
Other liabilities (16) (40)
Income taxes payable 87 69
Net cash provided by operating activities 14,471 20,198
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (6,064) (6,513)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements (3) (77)
Purchases of broadcast assets and radio stations (35) (6,534)
Proceeds from sale of assets 4,202 8,518
Other (725) (398)
Net cash used in investing activities (3,875) (9,324)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (6,123) (9,550)
Refund (payments) of debt issuance costs (43) (11)
Proceeds from the exercise of stock options   43
Payments of acquisition-related contingent earn-out consideration   (140)
Payments on financing lease liabilities (65) (73)
Payment of cash distribution on common stock (5,160) (5,104)
Book overdraft 2,280 2,775
Net cash used in financing activities (10,706) (10,860)
Net increase (decrease) in cash and cash equivalents (110) 14
Cash and cash equivalents at beginning of year 117 3
Cash and cash equivalents at end of period 7 17
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 8,568 8,772
Cash paid for interest on finance lease liabilities 7 22
Cash paid for income taxes 122 99
Other supplemental disclosures of cash flow information:    
Barter revenue 4,113 5,018
Barter expense 3,673 4,223
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances 3 77
Deferred payments on acquisitions   326
Right-of-use assets acquired through operating leases 1,854  
Right-of-use assets acquired through financing leases 14 56
Non-cash capital expenditures for property & equipment acquired under trade agreements   90
Digital Media [Member]    
INVESTING ACTIVITIES    
Purchases of digital media businesses and assets (1,250) (4,320)
Abl Facility [Member]    
FINANCING ACTIVITIES    
Proceeds from borrowings under ABL Facility 86,367 111,337
Payments on ABL Facility $ (87,962) $ (110,137)