Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income (loss) $ (1,339) $ 2,332
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash stock-based compensation 172 1,425
Depreciation and amortization 8,998 8,374
Amortization of deferred financing costs 587 357
Accretion of financing items 0 74
Accretion of acquisition-related deferred payments and contingent consideration 18 24
Provision for bad debts 796 796
Deferred income taxes (812) 1,272
Change in the fair value of interest rate swap 0 (357)
Change in the estimated fair value of contingent earn-out consideration 72 (42)
Impairment of indefinite-lived long-term assets other than goodwill 0 19
(Gain) loss on early retirement of long-term debt (234) 2,775
(Gain) loss on the disposition of assets 5,159 (505)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled revenue (1,099) 2,669
Inventories (223) (197)
Prepaid expenses and other current assets (383) (804)
Accounts payable and accrued expenses 488 (1,105)
Deferred rent expense (166) 56
Contract liabilities (1,970) (405)
Other liabilities (13) (15)
Income taxes payable 20 (164)
Net cash provided by operating activities 10,071 16,579
INVESTING ACTIVITIES    
Cash paid for capital expenditures net of tenant improvement allowances (4,680) (4,768)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements (7) (52)
Escrow deposits paid related to acquisitions (185) (42)
Escrow deposits received related to radio station sale 2,045 0
Purchases of broadcast assets and radio stations (1,100) (130)
Purchases of digital media businesses and assets (70) (310)
Proceeds from sale of assets 1,791 600
Other (399) (289)
Net cash used in investing activities (2,605) (4,991)
FINANCING ACTIVITIES    
Payments to repurchase 6.75% Senior Secured Notes (9,550) 0
Payment of interest rate swap 0 (783)
Proceeds from bond offering 0 255,000
Refund (payment) of debt issuance costs 21 (6,368)
Payments of acquisition-related contingent earn-out consideration (15) (14)
Payments of deferred installments due from acquisition activity 0 (225)
Proceeds from the exercise of stock options 21 455
Payments of capital lease obligations (59) (62)
Payment of cash distribution on common stock (3,402) (3,388)
Book overdraft 2,621 (2,838)
Net cash used in financing activities (7,460) (11,699)
Net increase in cash and cash equivalents 6 (111)
Cash and cash equivalents at beginning of year 3 130
Cash and cash equivalents at end of period 9 19
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 8,650 4,849
Cash paid for income taxes 95 211
Other supplemental disclosures of cash flow information:    
Barter revenue 3,631 2,565
Barter expense 2,755 2,348
Non-cash investing and financing activities:    
Capital expenditures reimbursable under tenant improvement allowances 7 52
Assets acquired under capital lease 56 16
Non-cash capital expenditures for property & equipment acquired under trade agreements 9 0
Debt issuance costs accrued 0 465
Revolver [Member]    
FINANCING ACTIVITIES    
Payments under Term Loan B (66,374) (24,583)
Proceeds from borrowings under Revolver and ABL Facility 69,277 34,107
Term Loan B [Member]    
FINANCING ACTIVITIES    
Payments under Term Loan B $ 0 $ (263,000)