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
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income (loss) $ (55,204) $ 322
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Non-cash stock-based compensation 103 176
Depreciation and amortization 3,700 4,229
Amortization of deferred financing costs 227 258
Non-cash lease expense 2,252 2,267
Accretion of acquisition-related deferred payments and contingent consideration   1
Provision for bad debts 1,900 320
Deferred income taxes 33,084 (5,304)
Impairment of indefinite-lived long-term assets other than goodwill 17,254  
Impairment of goodwill 307  
Gain on early retirement of long-term debt (49) (426)
Change in the estimated fair value of contingent earn-out consideration (5)  
Net (gain) loss on the disposition of assets 79 4,024
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue 2,419 1,758
Inventories 70 (256)
Prepaid expenses and other current assets (587) 1,387
Accounts payable and accrued expenses 4,478 3,449
Operating lease liabilities (2,407) (3,458)
Contract liabilities 133 133
Deferred rent income (84) (43)
Other liabilities 6  
Income taxes payable 57 130
Net cash provided by operating activities 7,733 8,967
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (1,587) (2,404)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements (84)  
Purchases of broadcast assets and radio stations   (100)
Proceeds from sale of assets 2 1,255
Other (428) (139)
Net cash used in investing activities (2,097) (1,388)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (3,392) (6,123)
Refunds (payments) of debt issuance costs (1) (13)
Payments on financing lease liabilities (18) (21)
Payment of cash distribution on common stock (667) (1,702)
Book overdraft (1,885) 3,827
Net cash used in financing activities (4,389) (7,692)
Net increase (decrease) in cash and cash equivalents 1,247 (113)
Cash and cash equivalents at beginning of year 6 117
CasCash and cash equivalents at end of periodh and cash equivalents at end of year 1,253 4
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 163 302
Cash paid for interest on finance lease liabilities 2 2
Cash paid for income taxes 18 130
Other supplemental disclosures of cash flow information:    
Barter revenue 1,192 1,310
Barter expense 1,034 1,356
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances 84  
Right-of-use assets acquired through operating leases 575 288
Non-cash capital expenditures for property & equipment acquired under trade agreements 4  
Abl Facility [Member]    
FINANCING ACTIVITIES    
Proceeds from borrowings under ABL Facility 33,319 22,189
Payments on ABL Facility $ (31,745) $ (25,849)