Gannett Co Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
TDAY$6.95+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year ended December 31, | |||
|---|---|---|---|
| In thousands | 2023 | 2022 | 2021 |
| Operating activities | |||
| Net loss | $(27,894) | $(78,255) | $(136,171) |
| Adjustments to reconcile net loss to operating cash flows: | |||
| Depreciation and amortization | 162,622 | 182,022 | 203,958 |
| Share-based compensation expense | 16,567 | 16,751 | 18,439 |
| Non-cash interest expense | 21,199 | 21,303 | 25,507 |
| Provision for deferred income taxes | 11,514 | 2,549 | 44,970 |
| (Gain) loss on sale or disposal of assets, net | (40,101) | (6,883) | 17,208 |
| Loss on convertible notes derivative | — | — | 126,600 |
| (Gain) loss on early extinguishment of debt | (4,529) | (399) | 48,708 |
| Asset impairments | 1,370 | 1,056 | 3,976 |
| Pension and other postretirement benefit obligations | (13,917) | (80,012) | (150,824) |
| Change in other assets and liabilities: | |||
| Accounts receivable, net | 34,135 | 44,943 | (33,246) |
| Inventory | 18,510 | (7,434) | (2,824) |
| Prepaid expenses | 16,680 | 3,244 | 5,576 |
| Accounts payable and accrued liabilities | (65,094) | (23,653) | (33,457) |
| Deferred revenue | (29,971) | (30,076) | 931 |
| Other assets and liabilities | (6,517) | (4,380) | (11,898) |
| Cash provided by operating activities | 94,574 | 40,776 | 127,453 |
| Investing activities | |||
| Acquisitions, net of cash acquired | — | (15,432) | (125) |
| Purchase of property, plant, and equipment | (38,116) | (45,376) | (39,560) |
| Proceeds from sale of real estate and other assets | 85,298 | 83,504 | 111,765 |
| Change in other investing activities | (203) | (572) | (1,433) |
| Cash provided by investing activities | 46,979 | 22,124 | 70,647 |
| Financing activities | |||
| Payments of deferred financing costs | — | (1,652) | (21,071) |
| Borrowings of long-term debt | — | 80,000 | 1,934,940 |
| Repayments of long-term debt | (133,821) | (170,994) | (2,156,046) |
| Repurchase of convertible debt | — | — | (15,012) |
| Acquisition of noncontrolling interests | — | (2,050) | — |
| Treasury stock | (2,642) | (6,555) | (3,244) |
| Changes in other financing activities | 952 | (1,616) | (739) |
| Cash used for financing activities | (135,511) | (102,867) | (261,172) |
| Effect of currency exchange rate change on cash | (234) | 1,152 | (35) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 5,808 | (38,815) | (63,107) |
| Cash, cash equivalents and restricted cash at beginning of year | 104,804 | 143,619 | 206,726 |
| Cash, cash equivalents and restricted cash at end of year | $110,612 | $104,804 | $143,619 |
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