iHeartMedia 2012 Annual Report Download - page 76

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CONSOLIDATED STATEMENTS OF CASH FLOWS OF
CLEAR CHANNEL CAPITAL I, LLC AND SUBSIDIARIES
See Notes to Consolidated Financial Statements
73
(In thousands)
Years Ended December 31,
2012
2011
2010
Cash flows from operating activities:
Consolidated net loss
$
(411,190)
$
(268,029)
$
(462,853)
Reconciling items:
Impairment charges
37,651
7,614
15,364
Depreciation and amortization
729,285
763,306
732,869
Deferred taxes
(304,611)
(143,944)
(211,180)
Provision for doubtful accounts
11,715
13,723
23,118
Amortization of deferred financing charges and note discounts, net
164,097
188,034
214,950
Share-based compensation
28,540
20,667
34,246
(Gain) loss on disposal of operating and fixed assets
(48,127)
(12,682)
16,710
Loss on marketable securities
4,580
4,827
6,490
Equity in (earnings) of nonconsolidated affiliates
(18,557)
(26,958)
(5,702)
Loss (gain) on extinguishment of debt
254,723
1,447
(60,289)
Other reconciling items – net
17,800
16,120
26,090
Changes in operating assets and liabilities, net of effects of
acquisitions and dispositions:
(Increase) in accounts receivable
(34,238)
(7,835)
(119,860)
Decrease in Federal income taxes receivable
-
-
132,309
Increase (decrease) in accrued expenses
34,874
(127,242)
117,432
(Decrease) in accounts payable and other liabilities
(19,048)
(15,131)
(6,924)
Increase in accrued interest
20,223
39,170
87,053
Increase (decrease) in deferred income
33,482
(10,776)
796
Changes in other operating assets and liabilities
(12,501)
(68,353)
41,754
Net cash provided by operating activities
488,698
373,958
582,373
Cash flows from investing activities:
Proceeds from sale of other investments
-
6,894
1,200
Purchases of businesses
(50,116)
(46,356)
-
Purchases of property, plant and equipment
(390,280)
(362,281)
(241,464)
Proceeds from disposal of assets
59,665
54,270
28,637
Purchases of other operating assets
(14,826)
(20,995)
(16,110)
Change in other – net
(1,464)
382
(12,460)
Net cash used for investing activities
(397,021)
(368,086)
(240,197)
Cash flows from financing activities:
Draws on credit facilities
604,563
55,000
198,670
Payments on credit facilities
(1,931,419)
(960,332)
(152,595)
Proceeds from long-term debt
4,917,643
1,731,266
145,639
Payments on long-term debt
(3,346,906)
(1,398,299)
(369,372)
Repurchases of long-term debt
-
(55,250)
(125,000)
Dividends paid
(244,734)
-
-
Deferred financing charges
(83,617)
(46,659)
-
Change in other – net
(10,879)
(23,842)
(2,586)
Net cash used for financing activities
(95,349)
(698,116)
(305,244)
Net increase (decrease) in cash and cash equivalents
(3,672)
(692,244)
36,932
Cash and cash equivalents at beginning of period
1,228,682
1,920,926
1,883,994
Cash and cash equivalents at end of period
$
1,225,010
$
1,228,682
$
1,920,926
SUPPLEMENTAL DISCLOSURES:
Cash paid during the year for interest
$
1,381,396
$
1,260,767
$
1,235,755
Cash paid during the year for taxes
52,517
81,162
-