Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Net income $ 248 $ 262
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 4 3
Deferred income taxes (42) (108)
Foreign currency loss 1 0
Depreciation 68 66
Amortization 233 223
Noncash interest 4 4
Loss on extinguishment of debt 21 0
Stock-based compensation 15 18
Change in other long-term liabilities 18 55
Effects of changes in working capital items 35 26
Net cash provided by operating activities 605 549
Investing activities:    
Capital expenditures, net (79) (57)
Expenditures for cable and satellite television distribution rights, net (45) (8)
Changes in other noncurrent assets (3) 0
Net cash used in investing activities (127) (65)
Financing activities:    
Principal payments of debt and capital lease obligations (1,216) (1,419)
Principal borrowings of debt from senior secured credit facility 1,098 554
Proceeds from issuance of senior secured notes, net of original issue discount 0 999
Payment of debt origination fees (3) (12)
Payment of bond premium fees (18) 0
Other financing activities (1) (4)
Dividends paid to Liberty (210) (480)
Dividends paid to noncontrolling interest (20) (25)
Net cash (used in) provided by financing activities (370) (387)
Effect of foreign exchange rate changes on cash and cash equivalents (10) (6)
Net increase in cash and cash equivalents 98 91
Cash and cash equivalents, beginning of period 347 457
Cash and cash equivalents, end of period 445 548
Effects of changes in working capital items:    
Decrease in accounts receivable 385 357
Increase in inventories (92) (57)
Increase in prepaid expenses (10) (10)
Decrease in accounts payable-trade (61) (14)
Decrease in accrued liabilities and other (187) (250)
Effects of changes in working capital items $ 35 $ 26