Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (153,443) $ (236,599)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 85,319 100,346
Amortization of right-to-use asset 6,302  
Amortization of content library 6,648 11,678
Non-cash interest expense, net 29,381 21,546
Stock-based compensation 6,343 12,817
Tax effect of Second Lien Notes' beneficial conversion feature (2,688) 0
Proceeds from equity method investments 6,686 1,429
(Income) loss on equity method investments including impairment losses (9,980) 46,310
Loss on disposal of fixed assets 463 528
Change in fair value of derivatives (1,066) (97)
Provision for bad debt 4,616 1,227
Deferred income taxes (3,933) (7,905)
Other 1,379 (1,299)
Changes in operating assets and liabilities:    
Accounts receivable 4,788 8,974
Inventories 6,069 (11,620)
Prepaid expenses 2,351 4,687
Other current assets (2,341) 14,280
Content library (3,824) (8,876)
Other non-current assets (9,805) (4,386)
Accounts payable and accrued expenses 7,649 (26,012)
Deferred revenue 3,857 1,142
Other liabilities 6,330 (2,280)
NET CASH USED IN OPERATING ACTIVITIES (8,899) (74,110)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (20,291) (43,451)
NET CASH USED IN INVESTING ACTIVITIES (20,291) (43,451)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of Second Lien Notes and equity warrants 0 150,000
Proceeds from additional capacity on term loan 40,000 0
Issuance costs (3,772) (6,968)
Repayment of long-term debt (14,219) (13,484)
Repayment of revolving credit facility (83,850) (80,585)
Proceeds from borrowings on revolving credit facility 73,150 56,600
Other financing activities, net (5,140) 0
Proceeds from borrowings from related party 7,350 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 13,519 105,563
Effects of exchange rate changes on cash and cash equivalents 178 85
Net decrease in cash and cash equivalents (15,493) (11,913)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 39,955 51,868
CASH AND CASH EQUIVALENTS AT END OF YEAR 24,462 39,955
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for taxes 5,840 7,779
Cash paid for interest 56,553 54,291
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Conversion of PIK interest on our Second Lien Notes to additional principal 19,584 8,450
Purchases of property, plant and equipment held in accounts payable 239 4,057
Financing of purchased satellite transponders included in property and equipment 8,500 0
Distributions from equity method investee to offset demand promissory note 7,350 $ 7,350
Leasehold improvements paid directly by lessor $ 2,285