iHeartMedia 2014 Annual Report Download - page 76

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CONSOLIDATED STATEMENTS OF CASH FLOWS OF
IHEARTCOMMUNICATIONS, INC. AND SUBSIDIARIES
See Notes to Consolidated Financial Statements
74
(In thousands)
Years Ended December 31,
2014
2013
2012
Cash flows from operating activities:
Consolidated net loss
$
(762,158)
$
(583,517)
$
(411,190)
Reconciling items:
Impairment charges
24,176
16,970
37,651
Depreciation and amortization
710,898
730,828
729,285
Deferred taxes
33,923
(158,170)
(304,611)
Provision for doubtful accounts
14,167
20,243
11,715
Amortization of deferred financing charges and note discounts, net
89,701
124,342
164,097
Share-based compensation
10,713
16,715
28,540
Gain on disposal of operating and fixed assets
(44,512)
(22,998)
(48,127)
(Gain) loss on marketable securities
-
(130,879)
4,580
Equity in (earnings) loss of nonconsolidated affiliates
9,416
77,696
(18,557)
Loss on extinguishment of debt
43,347
87,868
254,723
Other reconciling items, net
(14,325)
19,904
14,234
Changes in operating assets and liabilities, net of effects of
acquisitions and dispositions:
Increase in accounts receivable
(13,898)
(29,605)
(34,238)
Increase in accrued expenses
31,049
26,105
34,874
Increase (decrease) in accounts payable
6,404
(2,620)
13,863
Increase in accrued interest
88,560
16,014
20,223
Increase in deferred income
11,288
7,508
33,482
Changes in other operating assets and liabilities
6,367
(3,532)
(45,412)
Net cash provided by operating activities
245,116
212,872
485,132
Cash flows from investing activities:
Proceeds from sale of other investments
236,618
135,571
-
Purchases of businesses
841
(97)
(50,116)
Purchases of property, plant and equipment
(318,164)
(324,526)
(390,280)
Proceeds from disposal of assets
10,273
81,598
59,665
Purchases of other operating assets
(4,541)
(21,532)
(14,826)
Change in other, net
(13,709)
(4,379)
(1,464)
Net cash used for investing activities
(88,682)
(133,365)
(397,021)
Cash flows from financing activities:
Draws on credit facilities
68,010
272,252
604,563
Payments on credit facilities
(315,682)
(27,315)
(1,931,419)
Proceeds from long-term debt
2,062,475
575,000
4,917,643
Payments on long-term debt
(2,099,101)
(1,248,860)
(3,346,906)
Payments to repurchase noncontrolling interests
(48,750)
(61,143)
(7,040)
Dividends and other payments to noncontrolling interests
(40,027)
(91,887)
(251,665)
Deferred financing charges
(26,169)
(18,390)
(83,617)
Change in other, net
1,243
4,461
3,092
Net cash used for financing activities
(398,001)
(595,882)
(95,349)
Effect of exchange rate changes on cash
(9,560)
(484)
3,566
Net decrease in cash and cash equivalents
(251,127)
(516,859)
(3,672)
Cash and cash equivalents at beginning of period
708,151
1,225,010
1,228,682
Cash and cash equivalents at end of period
$
457,024
$
708,151
$
1,225,010
SUPPLEMENTAL DISCLOSURES:
Cash paid during the year for interest
$
1,540,860
$
1,543,455
$
1,381,396
Cash paid during the year for taxes
53,074
50,934
52,517