Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (84,193) $ (169,741)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization of property, plant, equipment and intangibles 50,035 42,766
Amortization of content library 5,909 7,764
Non-cash interest expense, net 8,294 2,596
Change in fair value of derivatives 91 (2,475)
Stock-based compensation 5,868 2,843
Impairment of goodwill 0 78,000
Impairment of equipment 0 0
Loss (gain) on disposal of fixed assets (16) 517
Loss on extinguishment of debt 0 14,389
Earnings from equity method investments (1,589) (2,140)
Distributions from equity method investments 0 4,900
Provision (recovery of) for bad debts (802) 2,372
Deferred income taxes (7,906) (1,278)
Other (650) (1,466)
Changes in operating assets and liabilities:    
Accounts receivable 5,211 (4,988)
Inventories (7,336) (4,404)
Prepaid expenses and other current assets 138 4,870
Content library (4,817) (8,967)
Other non-current assets (598) (142)
Accounts payable and accrued liabilities (14,972) (24,281)
Deferred revenue 2,157 (237)
Other current liabilities 2,349 (764)
NET CASH USED IN OPERATING ACTIVITIES (42,827) (59,866)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (24,472) (42,888)
Settlement of EMC Working Capital 0 1,250
NET CASH USED IN INVESTING ACTIVITIES (24,472) (41,638)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of Second Lien Notes and equity warrants 150,000 0
Proceeds from issuance of debt, net of $15,000 discount 0 485,000
Issuance costs (6,968) (17,893)
Repayments of EMC indebtedness 0 (412,400)
Repayment of revolving credit facility (78,000) 0
Proceeds from borrowings 0 50,000
Repayments of long-term debt (6,712) (3,684)
Payment of contingent consideration 0 (829)
NET CASH PROVIDED BY FINANCING ACTIVITIES 58,320 100,194
Effects of exchange rate changes on cash and cash equivalents (96) 371
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect (9,075) (939)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD [1] 51,868 68,678
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD [1] 42,793 67,739
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Purchase consideration for equipment included in accounts payable 6,290 23,500
Distributions from equity method investee to offset demand promissory note 3,430 0
Release of restricted cash held in escrow for EMC Acquisition $ 0 $ 15,483
[1] June 30, 2017 figures have been recast to include the impact of the adoption of ASU 2016-18. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies