SEC Filings

10-Q
TEGNA INC filed this Form 10-Q on 11/08/2018
Entire Document
 


TEGNA Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Unaudited, in thousands of dollars
 
Nine months ended Sept. 30,
 
2018
 
2017
 
 
 
 
Cash flows from operating activities:
 
 
 
Net income (loss)
$
244,850


$
(88,579
)
Adjustments to reconcile net income to net cash flow from operating activities:
 
 
 
Depreciation and amortization
64,385

 
117,762

Stock-based compensation
12,292

 
14,189

Loss on write down of CareerBuilder

 
342,900

Other (gains) losses on sales of assets and impairment charges
(6,991
)
 
19,803

Equity (income) losses in unconsolidated investments, net
(15,080
)
 
1,488

Pension contributions, net of expense
(39,932
)

(12,547
)
Spectrum channel share agreement proceeds

 
32,588

Change in other assets and liabilities, net
73,136

 
(75,865
)
Net cash flow from operating activities
332,660

 
351,739

Cash flows from investing activities:
 
 
 
Purchase of property and equipment
(35,281
)
 
(63,846
)
Reimbursement from spectrum repacking
5,057

 

Payments for acquisitions of businesses, net of cash acquired
(328,433
)
 

Payments for investments
(11,309
)
 
(2,778
)
Proceeds from sale of CareerBuilder, net of $36,581 cash transferred

 
198,342

Proceeds from investments
1,224

 
15,989

Proceeds from sale of assets and businesses
16,335

 
5,659

Net cash flow (used for) provided by investing activities
(352,407
)
 
153,366

Cash flows from financing activities:
 
 
 
Proceeds (payments) of borrowings under revolving credit facilities, net
72,000

 
(635,000
)
Proceeds from Cars.com borrowings

 
675,000

Debt repayments
(95,985
)
 
(99,185
)
Payments of debt issuance costs
(5,269
)
 
(6,208
)
Dividends paid
(45,219
)
 
(75,109
)
Repurchases of common stock
(5,831
)
 
(8,453
)
Distributions to noncontrolling membership interests

 
(22,980
)
Cash transferred to the Cars.com business

 
(20,133
)
Other, net
(4,224
)
 
(5,180
)
Net cash flow used for financing activities
(84,528
)
 
(197,248
)
(Decrease) increase in cash and cash equivalents
(104,275
)
 
307,857

Cash, cash equivalents and restricted cash from continuing operations, beginning of period
128,041

 
44,076

Cash, cash equivalents and restricted cash from discontinued operations, beginning of period

 
61,041

Balance of cash and cash equivalents, beginning of period
128,041

 
105,117

Cash, cash equivalents and restricted cash from continuing operations, end of period
23,766

 
412,974

Cash, cash equivalents and restricted cash from discontinued operations, end of period

 

Balance of cash and cash equivalents, end of period
$
23,766

 
$
412,974

The accompanying notes are an integral part of these condensed consolidated financial statements.

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