Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (112,932,000) $ (2,126,000) $ (57,194,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization of property, equipment and intangibles 57,158,000 36,592,000 34,422,000
Amortization of content library 14,932,000 14,929,000 15,022,000
Non-cash interest expense, net 1,916,000 903,000 23,000
Stock-based compensation 10,747,000 8,235,000 8,067,000
Issuance of shares for working capital settlement 0 0 345,000
Issuance of common stock for legal settlements 13,705,000 0 0
Impairment of goodwill 64,000,000 0 0
Impairment of internally developed software 4,069,000 0 0
Impairment of related party loan 4,353,000 0 0
(Income) loss from equity method investments (3,829,000) 0 1,500,000
Change in fair value of derivatives (25,515,000) (11,938,000) 6,955,000
Provision for bad debt 2,624,000 797,000 5,539,000
Deferred income taxes (60,369,000) (6,452,000) (5,068,000)
Other (1,488,000) 96,000 0
Changes in operating assets and liabilities:      
Restricted cash 2,700,000 (722,000) (767,000)
Accounts receivable (8,032,000) (5,879,000) (26,386,000)
Inventories 2,123,000 (1,580,000) (3,557,000)
Prepaid expenses (4,382,000) (1,272,000) (449,000)
Other current assets 16,366,000 (1,252,000) (5,493,000)
Content library 18,614,000 15,406,000 16,765,000
Other non-current assets (2,695,000) (2,814,000) 2,703,000
Accounts payable and accrued liabilities 14,854,000 4,183,000 19,641,000
Deferred revenue (12,891,000) (3,134,000) 3,151,000
Other current liabilities (790,000) 3,067,000 322,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (36,600,000) 21,855,000 (23,395,000)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of businesses, net of cash acquired (92,246,000) (60,242,000) (500,000)
Purchases of property and equipment (54,173,000) (20,653,000) (9,074,000)
Issuance of loan to related party (4,400,000) 0 0
Proceeds from sale of investment 0 0 583,000
Other 0 0 (732,000)
NET CASH USED IN INVESTING ACTIVITIES (150,819,000) (80,895,000) (9,723,000)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Acquisition of non-controlling interest 0 0 (21,741,000)
Proceeds from borrowings 27,500,000 81,250,000 2,047,000
Repayment of debt (3,806,000) (1,126,000) (9,669,000)
Repurchase of common stock warrants (5,219,000) 0 (1,406,000)
Proceeds from exercise of common stock options and warrants (450,000) 5,604,000 3,100,000
Convertible senior note issuance fees 0 (831,000) 0
Other financing activities, net (4,127,000) (339,000) (362,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 13,898,000 84,558,000 (28,031,000)
Effects of exchange rate changes on cash and cash equivalents 655,000 386,000 1,000
Net (decrease) increase in cash and cash equivalents (172,866,000) 25,904,000 (61,148,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 223,552,000 197,648,000 258,796,000
CASH AND CASH EQUIVALENTS AT END OF YEAR 50,686,000 223,552,000 197,648,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for Taxes 12,562,000 5,435,000 4,203,000
Cash paid for Interest 19,249,000 1,161,000 447,000
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Issuance of common stock in connection with acquisition of business 40,607,000 0 0
Deferred consideration liabilities incurred in connection with acquisition of business 25,000,000 0 0
Issuance of common stock to repurchase Global Eagle public company warrants 0 16,600,000 24,448,000
Purchase consideration for equipment included in accounts payable $ 13,500,000 $ 0 $ 0