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, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net loss $ (57,390) $ (23,327)
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash stock-based compensation 273 1,289
Depreciation and amortization 10,686 12,096
Amortization of deferred financing costs 675 766
Non-cash lease expense 6,745 6,735
Accretion of acquisition-related deferred payments and contingent consideration 0 2
Provision for bad debts 4,122 1,407
Deferred income taxes 30,954 487
Change in the estimated fair value of contingent earn-out consideration (12) (40)
Impairment of indefinite-lived long-term assets other than goodwill 17,254 1,915
Impairment of goodwill 307 0
Gain on early retirement of long-term debt (49) (426)
Net (gain) loss on the disposition of assets 1,494 21,212
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue 2,565 (2,363)
Inventories 99 (372)
Prepaid expenses and other current assets (1,343) 338
Accounts payable and accrued expenses 5,871 4,504
Operating lease liabilities (6,396) (7,983)
Contract liabilities 5,274 (1,710)
Deferred rent income (268) (130)
Other liabilities 2,254 (16)
Income taxes payable 30 87
Net cash provided by operating activities 23,145 14,471
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (3,565) (6,064)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements (140) (3)
Purchases of broadcast assets and radio stations 0 (35)
Purchases of digital media businesses and assets (400) (1,250)
Proceeds from sale of assets 188 4,202
Other 2,010 (725)
Net cash used in investing activities (1,907) (3,875)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (3,392) (6,123)
Refunds (payments) of debt issuance costs (124) (43)
Payments on financing lease liabilities (52) (65)
Payment of cash distribution on common stock (667) (5,160)
Book overdraft (1,885) 2,280
Net cash used in financing activities (1,946) (10,706)
Net increase (decrease) in cash and cash equivalents 19,292 (110)
Cash and cash equivalents at beginning of year 6 117
Cash and cash equivalents at end of period 19,298 7
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 7,731 8,568
Cash paid for interest on finance lease liabilities 6 7
Cash paid for income taxes 196 122
Other supplemental disclosures of cash flow information:    
Barter revenue 2,152 4,113
Barter expense 1,971 3,673
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances 140 3
Deferred payments on acquisitions 708 0
Right-of-use assets acquired through operating leases 2,715 1,854
Right-of-use assets acquired through financing leases 0 14
Non-cash capital expenditures for property & equipment acquired under trade agreements 4 0
Abl Facility [Member]    
FINANCING ACTIVITIES    
Proceeds from borrowings under ABL Facility 38,626 86,367
Payments on ABL Facility $ (34,452) $ (87,962)