Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.20.4
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2019
Aug. 31, 2019
Dec. 31, 2020
Dec. 31, 2018
Income Statement [Abstract]        
Net revenue $ 162,219 $ 342,286 $ 503,597 $ 540,358
Operating expenses:        
Cost of services 36,988 75,286 119,390 128,939
Selling, general and administrative, including stock-based and long-term incentive compensation 52,144 80,365 149,314 118,940
Radio conversion costs 3,265 931 21,433 0
Amortization of subscriber accounts, deferred contract acquisition costs and other intangible assets 69,693 130,791 217,273 211,639
Depreciation 3,777 7,348 13,844 11,434
Goodwill impairment 0 0 81,943 563,549
Total operating expenses 165,867 294,721 603,197 1,034,501
Operating (loss) income (3,648) 47,565 (99,600) (494,143)
Other (income) expense:        
Gain on restructuring and reorganization, net 0 (669,722) 0 0
Interest expense 28,979 105,081 80,265 180,770
Realized and unrealized loss, net on derivative financial instruments 0 6,804 0 3,151
Refinancing expense 0 5,214 0 12,238
Total other (income) expense 28,979 (552,623) 80,265 196,159
(Loss) income before income taxes (32,627) 600,188 (179,865) (690,302)
Income tax expense (benefit) 704 1,775 1,891 (11,552)
Net (loss) income (33,331) 598,413 (181,756) (678,750)
Other comprehensive (loss) income:        
Unrealized (loss) gain on derivative contracts, net 9 (940) (2,102) 14,378
Total other comprehensive (loss) income, net of tax 9 (940) (2,102) 14,378
Comprehensive (loss) income $ (33,322) $ 597,473 $ (183,858) $ (664,372)
Basic and diluted income per share:        
Net loss (in dollars per share) $ (1.48) $ 0 $ (8.08) $ 0