Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 8 Months Ended 9 Months Ended
Sep. 30, 2019
Aug. 31, 2019
Sep. 30, 2020
Cash flows from operating activities:      
Net (loss) income $ (10,807) $ 598,413 $ (154,821)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Amortization of subscriber accounts, deferred contract acquisition costs and other intangible assets 17,302 130,791 164,889
Depreciation 925 7,348 10,019
Stock-based and long-term incentive compensation 26 912 722
Gain on restructuring and reorganization, net 0 (705,559) 0
Unrealized loss on derivative financial instruments, net 0 4,577 0
Refinancing expense 0 5,214 0
Trade bad debt expense 912 7,558 6,567
Goodwill impairment 0 0 81,943
Other non-cash activity, net 117 (462) 2,867
Changes in assets and liabilities:      
Trade receivables (1,183) (6,271) (5,338)
Inventories (943) (188) (1,636)
Prepaid expenses and other assets 207 2,948 (4,554)
Subscriber accounts - deferred contract acquisition costs (162) (2,193) (1,904)
Payables and other liabilities 6,776 36,690 (6,357)
Net cash provided by operating activities 13,170 79,778 92,397
Cash flows from investing activities:      
Capital expenditures (1,123) (7,100) (10,530)
Cost of subscriber accounts acquired (8,012) (83,814) (84,253)
Net cash used in investing activities (9,135) (90,914) (94,783)
Cash flows from financing activities:      
Proceeds from long-term debt 5,000 253,100 65,000
Payments on long-term debt (5,000) (379,666) (63,669)
Payments of earnout liability 0 0 (1,054)
Proceeds from equity rights offering 0 161,497 0
Cash contributed by Ascent Capital 0 24,139 0
Payments of restructuring and reorganization costs 0 (13,249) 0
Payments of refinancing costs 0 (7,404) 0
Value of shares withheld for share-based compensation 0 (18) 0
Dividend to Ascent Capital 0 (5,000) 0
Net cash provided by financing activities 0 33,399 277
Net (decrease) increase in cash, cash equivalents and restricted cash 4,035 22,263 (2,109)
Cash, cash equivalents and restricted cash at beginning of period 24,640   15,001
Cash, cash equivalents and restricted cash at end of period $ 28,675 $ 24,640 $ 12,892