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
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Net income $ 570 $ 592
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 1 1
Deferred income taxes 8 (4)
Foreign currency gain (loss) (3) 3
Depreciation 131 143
Amortization 213 211
Change in fair value of financial instruments and noncash interest 9 10
Gain (Loss) on Extinguishment of Debt 42 0
Stock-based compensation 26 30
Change in other long-term liabilities 9 (26)
Other non-cash charges, net 30 8
Decrease in accounts receivable 718 575
Increase in inventories (49) (169)
Decrease in prepaid expenses and other current assets 30 32
Increase (decrease) in accounts payable-trade 56 (111)
Decrease in accrued liabilities and other (111) (277)
Net cash provided by operating activities 1,680 1,018
Investing activities:    
Capital expenditures (140) (225)
Expenditures for television distribution rights (41) (128)
Changes in other noncurrent assets 0 (9)
Other investing activities 0 29
Net cash used in investing activities (181) (333)
Financing activities:    
Principal payments of debt and finance lease obligations (1,230) (1,648)
Principal borrowings of debt from senior secured credit facility 112 2,061
Repayments of Secured Debt (500) (400)
Payment for Debt Extinguishment or Debt Prepayment Cost (41) 0
Proceeds from Issuance of Long-term Debt 1,075 0
Payment of debt origination fees (15) 0
Proceeds from Contributions from Parent 0 50
Dividends paid to Qurate Retail, Inc. (845) (698)
Dividends paid to noncontrolling interest (46) (34)
Other financing activities (1) (4)
Net cash used in financing activities (1,491) (673)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 5 (3)
Net increase in cash, cash equivalents and restricted cash 13 9
Cash, cash equivalents and restricted cash, beginning of period 569 550
Cash, cash equivalents and restricted cash, end of period $ 582 $ 559