v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net loss $ (3,322) $ (1,339)
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash stock-based compensation 1,112 172
Depreciation and amortization 8,205 8,998
Amortization of deferred financing costs 513 587
Non-cash lease expense 4,448  
Accretion of acquisition-related deferred payments and contingent consideration 2 18
Provision for bad debts 737 796
Deferred income taxes (546) (812)
Change in the estimated fair value of contingent earn-out consideration   72
Gain on early retirement of long-term debt (426) (234)
Net (gain) loss on the disposition of assets 3,667 5,159
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue 3 (1,099)
Inventories (353) (223)
Prepaid expenses and other current assets 1,078 (383)
Accounts payable and accrued expenses (459) 488
Deferred rent expense   (120)
Operating lease liabilities (5,765)  
Contract liabilities (1,081) (1,970)
Deferred rent income (84) (46)
Other liabilities   (13)
Income taxes payable 32 20
Net cash provided by operating activities 7,761 10,071
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (4,697) (4,680)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements   (7)
Escrow deposits paid related to acquisitions   (185)
Escrow deposits received related to radio station sale   2,045
Purchases of broadcast assets and radio stations   (1,100)
Proceeds from sale of assets 2,872 1,791
Other (728) (399)
Net cash used in investing activities (3,203) (2,605)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (6,123) (9,550)
Refund (payments) of debt issuance costs (30) 21
Proceeds from the exercise of stock options   21
Payments of deferred installments due from acquisition activity   (15)
Payments on financing lease liabilities (43) (59)
Payment of cash distribution on common stock (3,430) (3,402)
Book overdraft 2,204 2,621
Net cash used in financing activities (4,666) (7,460)
Net increase (decrease) in cash and cash equivalents (108) 6
Cash and cash equivalents at beginning of year 117 3
Cash and cash equivalents at end of period 9 9
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 8,312 8,632
Cash paid for interest on finance lease liabilities 5 18
Cash paid for income taxes 103 95
Other supplemental disclosures of cash flow information:    
Barter revenue 2,730 3,631
Barter expense 2,469 2,755
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances   7
Right-of-use assets acquired through operating leases 1,064  
Right-of-use assets acquired through financing leases 2 56
Non-cash capital expenditures for property & equipment acquired under trade agreements   9
Abl Facility [Member]    
FINANCING ACTIVITIES    
Proceeds from borrowings under ABL Facility 54,295 69,277
Payments on ABL Facility (51,539) (66,374)
Digital Media [Member]    
INVESTING ACTIVITIES    
Purchases of digital media businesses and assets $ (650) $ (70)

Source