Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Net income $ 366 $ 404
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 2 1
Deferred income taxes 0 (9)
Foreign currency (gain) loss (2) 3
Depreciation 86 100
Amortization 144 142
Change in fair value of financial instruments and noncash interest 8 7
Stock-based compensation 16 20
Change in other long-term liabilities 3 (6)
Other non-cash charges, net 20 5
Net cash provided by operating activities 1,179 699
Investing activities:    
Capital expenditures (92) (153)
Expenditures for television distribution rights (10) (124)
Changes in other noncurrent assets 0 (13)
Other investing activities 0 29
Net cash used in investing activities (102) (261)
Financing activities:    
Principal payments of debt and finance lease obligations (1,226) (1,425)
Principal borrowings of debt from senior secured credit facility 112 1,795
Repayments of Secured Debt 0 (400)
Proceeds from Issuance of Long-term Debt 575 0
Payment of debt origination fees (8) 0
Dividends paid to Qurate Retail, Inc. (262) (469)
Dividends paid to noncontrolling interest (30) (28)
Other financing activities (1) (4)
Net cash used in financing activities (840) (531)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3) 1
Net increase (decrease) in cash, cash equivalents and restricted cash 234 (92)
Cash, cash equivalents and restricted cash, end of period 795  
Cash, cash equivalents and restricted cash, beginning of period 569 550
Cash, cash equivalents and restricted cash, end of period 803 458
Decrease (increase) in inventories 96 (22)
Decrease in prepaid expenses and other current assets 9 41
Decrease in accounts payable-trade (124) (282)
Increase (decrease) in accrued liabilities and other 30 (244)
Decrease in accounts receivable $ 525 $ 539