(1) | The year ending December 31, 2023, includes $8.0 million loss from a mark-to-market adjustment of contingent consideration associated with the World Programming acquisition and $3.1 million currency gains on acquisition-related intercompany loans. |
The following table provides a reconciliation of projected Free Cash Flow to projected net cash provided by operating activities, the most comparable GAAP financial measure:
(Unaudited) | |||||||
Year Ending
December 31, 2023 | |||||||
(in thousands) | Low | High | |||||
Net cash provided by operating activities | $ | 120,200 | $ | 128,200 | |||
Capital expenditures | (12,200 | ) | (12,200 | ) | |||
Free cash flow | $ | 108,000 | $ | 116,000 |
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