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Table of Contents
Item 6. Selected Financial Data.
The following selected consolidated financial data was derived from our consolidated financial statements. The data should be read in conjunction with
"Management's Discussion and Analysis of Financial Condition and Results of Operations" and the consolidated financial statements and notes thereto included
elsewhere in this Annual Report on Form 10-K.
Year Ended December 31,
2011 (1)
2012
2013
2014
2015
(in thousands, except per share amounts)
Statement of operations data:
Revenues
$ 1,300,543
$ 1,335,135
$ 1,240,606
$ 1,176,895
$ 1,097,252
Operating costs and expenses (2)(3)
1,170,899
1,263,112
1,505,555
1,197,749
1,077,026
Income (loss) from operations
129,644
72,023
(264,949)
(20,854)
20,226
Income (loss) from continuing operations (4)
37,273
9,938
(536,866)
(72,371)
(43,210)
Loss from discontinued operations, net of tax (5)
(2,706)
(2,418)
(1,961)
(381)
—
Net income (loss)
34,567
7,520
(538,827)
(72,752)
(43,210)
Basic net income (loss) per share
Continuing operations
$ 0.34
$ 0.09
$ (5.23)
$ (0.71)
$ (0.42)
Discontinued operations
(0.03)
(0.02)
(0.02)
—
—
Basic net income (loss) per share
$ 0.32
$ 0.07
$ (5.25)
$ (0.71)
$ (0.42)
Diluted net income (loss) per share
Continuing operations
$ 0.34
$ 0.09
$ (5.23)
$ (0.71)
$ (0.42)
Discontinued operations
(0.02)
(0.02)
(0.02)
—
—
Diluted net income (loss) per share
$ 0.32
$ 0.07
$ (5.25)
$ (0.71)
$ (0.42)
Basic weighted average common shares outstanding
108,098
105,221
102,599
102,313
103,388
Diluted weighted average common shares outstanding
108,949
105,983
102,599
102,313
103,388
Cash dividends declared per common share
$ 0.20
$ 0.20
$ 0.20
$ 0.20
$ 0.20
Cash flow data:
Cash provided by operating activities
146,234
191,055
124,156
139,995
167,448
Cash provided by (used in) investing activities
141,594
(163,836)
(112,500)
(102,777)
(87,468)
Cash used in financing activities
(318,997)
(81,381)
(52,641)
(19,721)
(122,817)
As of December 31,
2011
2012
2013
2014
2015
(in thousands)
Balance sheet data:
Cash and cash equivalents
$ 211,783
$ 157,621
$ 116,636
$ 134,133
$ 91,296
Investments in marketable securities
29,607
46,851
—
—
—
Cash and marketable securities
241,390
204,472
116,636
134,133
91,296
Total assets
1,671,755
1,591,850
994,090
899,196
734,652
Long-term debt, including long-term portion of capital leases (6)
645,069
607,330
593,214
595,319
505,613
Total liabilities
918,611
873,046
831,872
824,412
711,806
Accumulated deficit
(613,668)
(606,148)
(1,144,975)
(1,217,727)
(1,260,937)
Stockholders' equity
753,144
718,804
162,218
74,784
22,846
30