CONSOLIDATED STATEMENTS OF CASH FLOWS  FOR THE YEARS ENDED DECEMBER 31, 2010, 2009 AND 2008  (In thousands)  2010 2009 2008 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:  Net income (loss) $ 75,048 $ (138,029) $ (248,663) Adjustments to reconcile net (loss) income to net cash flows from operating  activities:  Amortization of debt discount, net of debt premium  4,963  10,286 13,404  Depreciation of property and equipment  36,563  43,217 45,027  Recognition of deferred revenue  (25,967) (25,512) (29,416)  Impairment of goodwill, intangible and other assets 4,803  249,799 463,887  Amortization of definite-lived intangible assets 18,834  22,355 18,340  Amortization of program contract costs and net realizable value  adjustments  60,862  73,087 84,422  Loss (gain) on extinguishment of debt, non-cash portion  5,525  (18,465) 2,000  Original debt issuance discount paid  (14,393) (18,176) —  Deferred tax provision (benefit) 38,636  (24,949) (121,077)  Changes in assets and liabilities, net of effects of acquisitions and  dispositions:  (Increase) decrease in accounts receivable, net  (14,491) 823 22,884  Decrease (increase) in income taxes receivable  8,073  (5,739) 13,938  Increase in accounts payable and accrued liabilities  33,312  12,654 14,465  (Increase) decrease in other assets and liabilities  6  6,778 5,937  Payments on program contracts payable  (88,992) (82,184) (82,285)  Other, net  12,179  (509) 8,908  Net cash flows from operating activities  154,961  105,436 211,771  CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:  Acquisition of property and equipment  (11,694) (7,693) (25,169)  Consolidation of variable interest entity  —  — 1,328  Purchase of alarm monitoring contracts  (10,106) (12,291) (7,675)  Payments for acquisition of television stations —  — (17,123)  Payments for acquisitions of other operating divisions companies  —  — (53,487)  Decrease (increase) in restricted cash  59,602  (64,883) —  Dividends and distributions from equity and cost method investees  894  1,501 1,575  Investments in equity and cost method investees  (7,224) (10,601) (41,971)  Proceeds from the sale of assets  110  126 199  Proceeds from insurance settlements  372  — — Loans to affiliates  (136) (162) (178)  Proceeds from loans to affiliates  117  157 179  Net cash flows from (used in) investing activities  31,935  (93,846) (142,322)  CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:  Proceeds from notes payable, commercial bank financing and capital leases  283,930  980,875 274,643  Repayments of notes payable, commercial bank financing and capital leases (427,421) (931,566) (255,597) Purchase of subsidiary shares from noncontrolling interests  —  (5,000) —  Repurchase of Class A Common Stock  (1,454) (29,836) Dividends paid on Class A and Class B Common Stock  (34,225) (16,038) (66,683) Payments for deferred financing costs  (7,020) (28,815) (524) Proceeds from derivative terminations  —  — 8,001  Noncontrolling interests (distributions) contributions  (287) 26 (637) Repayments of notes and capital leases to affiliates  (3,123) (2,864) (3,326) Net cash flows used in financing activities  (188,146) (4,836) (73,959) NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS  (1,250) 6,754 (4,510) CASH AND CASH EQUIVALENTS, beginning of year  23,224  16,470 20,980  CASH AND CASH EQUIVALENTS, end of year  $ 21,974 $ 23,224 $ 16,470 The accompanying notes are an integral part of these consolidated financial statements.  2010 Annual Report    31 