v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 165,556 $ (234,453)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 100,535 122,069
Amortization and impairments of content costs 6,205 8,290
Amortization and write-off of original issue discount and deferred financing cost 625 2,689
Loss on sale of investments 3,399  
Equity-based compensation 30,271 32,180
Income taxes 9,438 (12,886)
Other, net 377 629
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable (57,641) (68,920)
Other current assets (11,864) (21,630)
Other noncurrent assets 1,695 (89,418)
Accounts payable and accrued liabilities (199,568) 199,810
Deferred revenue 1,659 (44,933)
Other liabilities 112,137 151,446
Net cash provided by operating activities 162,824 44,873
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, buildings and equipment and other assets (27,285) (37,356)
Investments in affiliates, net (11,000) (16,479)
Due from parent   (1,341)
Proceeds from sales of property and equipment 5,797 89
Proceeds from sales of investments 1,500  
Net cash used in investing activities (30,988) (55,087)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of long-term debt (11,026) (10,104)
Payments of contingent consideration related to acquisitions   (567)
Net transfers to parent (122,525) (2,367)
Contributions from parent 23,276  
Distributions to members (44,338)  
Dividends paid (31,058)  
Distributions of non-controlling interests   (227)
Net cash used in financing activities (185,671) (13,265)
Effects of exchange rate movements on cash 5,200 (3,828)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (48,635) (27,307)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 678,083 371,846
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 629,448 344,539
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 52,832 64,320
Cash payments for income taxes 10,509 6,467
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Capital expenditures included in current liabilities 3,211 29,433
Capital contribution from parent 49,443 2,790
Accretion of redeemable non-controlling interests $ (2,102)  
Principal stockholder contributions   $ 1,492