AMC Networks Inc

For the period ended Dec 31, 2023. Filed Feb 9, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 9, 2024

AMCX$8.61-3.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	2023	2022	2021
Cash flows from operating activities:
Net income including noncontrolling interests	$201,400	$11,028	$279,839
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	107,402	107,227	93,881
Non-cash impairment and other charges	87,089	40,717	16,699
Share-based compensation expenses related to equity classified awards	25,665	29,986	47,925
Non-cash restructuring and other related charges	15,147	336,744	4,329
Amortization and write-offs of program rights	906,158	1,008,470	909,339
Amortization of deferred carriage fees	21,341	34,234	29,709
Unrealized foreign currency transaction loss (gain)	2,716	8,692	(16,882)
Amortization of deferred financing costs and discounts on indebtedness	7,574	7,733	7,729
Loss on extinguishment of debt	—	—	22,074
Bad debt expense	2,503	2,202	5,337
Deferred income taxes	49,736	(50,689)	34,010
Gains on investments	—	(4,084)	(1,306)
Other, net	(5,234)	(7,667)	(7,216)
Changes in assets and liabilities:
Accounts receivable, trade (including amounts due from related parties, net)	34,332	70,371	(56)
Prepaid expenses and other assets	103,258	(34,069)	(183,861)
Program rights and obligations, net	(1,079,910)	(1,347,351)	(1,297,782)
Income taxes payable	969	(148)	(3,467)
Deferred revenue	(60,671)	(63,622)	126,832
Deferred carriage fees, net	(17,826)	(39,590)	(53,065)
Accounts payable, accrued liabilities and other liabilities	(197,730)	71,650	129,406
Net cash provided by operating activities	203,919	181,834	143,474
Cash flows from investing activities:
Capital expenditures	(35,207)	(44,272)	(42,572)
Return of capital from investees	2,146	1,771	—
Acquisition of investments	(599)	(5,002)	(30,273)
Loans to investees	—	(2,456)	—
Cash paid on distribution of business	—	—	(7,052)
Principal payments received on loans to investees	180	720	20,000
Payments for acquisitions of businesses, net of cash acquired	—	—	(62,055)
Proceeds from sale of investments	8,565	9,854	95,370
Other, net	593	—	—
Net cash used in investing activities	(24,322)	(39,385)	(26,582)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	—	—	986,000
Payments for financing costs	(342)	—	—
Principal payments on long-term debt	(458,381)	(33,750)	(1,016,500)
Deemed repurchases of restricted stock units	(7,271)	(22,332)	(32,886)
Proceeds from stock option exercises	—	—	9,795
Principal payments on finance lease obligations	(4,222)	(3,576)	(3,800)
Purchase of noncontrolling interests	(1,343)	(2,500)	—
Contributions from noncontrolling interests	—	—	2,702
Distributions to noncontrolling interests	(72,876)	(34,957)	(29,414)
Net cash used in financing activities	(544,435)	(97,115)	(84,103)
Net (decrease) increase in cash and cash equivalents from operations	(364,838)	45,334	32,789
Effect of exchange rate changes on cash and cash equivalents	5,412	(7,553)	(29,094)
Cash and cash equivalents at beginning of year	930,002	892,221	888,526
Cash and cash equivalents at end of year	$570,576	$930,002	$892,221

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.