Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net income $ 662 $ 633 $ 633
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in losses of investee 9 8 4
Deferred income taxes (90) (202) (108)
Foreign currency gain (14) (3) (1)
Depreciation 134 135 127
Amortization 454 452 431
Change in fair value of financial instruments and noncash interest 7 9 (6)
Loss on extinguishment of debt 21 48 57
Stock-based compensation 31 44 38
Change in other long-term liabilities 0 47 3
Effects of changes in working capital items (186) 42 (205)
Net cash provided by operating activities 1,028 1,213 973
Investing activities:      
Capital expenditures (215) (183) (214)
Expenditures for cable and satellite television distribution rights (72) (31) (58)
Decreases in restricted cash 0 2 1
Changes in other noncurrent assets 0 0 (2)
Other investing activities 2 1 3
Net cash used in investing activities (285) (211) (270)
Financing activities:      
Principal payments of debt and capital lease obligations (2,177) (3,049) (2,387)
Principal borrowings of debt from senior secured credit facility 2,974 1,852 1,674
Proceeds from issuance of senior secured notes, net of original issue discount 0 1,997 1,050
Payment of debt origination fees (3) (24) (16)
Payment of bond premium fees (18) (32) (46)
Dividends paid to Liberty (1,485) (1,765) (1,005)
Dividends paid to noncontrolling interest (36) (42) (45)
Other financing activities (15) (3) 12
Net cash used in financing activities (760) (1,066) (763)
Effect of foreign exchange rate changes on cash and cash equivalents (3) (46) (23)
Net decrease in cash and cash equivalents (20) (110) (83)
Cash and cash equivalents, beginning of period 347 457 540
Cash and cash equivalents, end of period 327 347 457
Effects of changes in working capital items:      
Increase in accounts receivable (178) (96) (63)
(Increase) decrease in inventories (68) 20 (14)
Increase in prepaid expenses (9) (1) (1)
Increase (decrease) in accounts payable-trade 27 172 (121)
Increase (decrease) in accrued liabilities and other 42 (53) (6)
Effects of changes in working capital items (186) 42 (205)
Cash paid for taxes-to Liberty 330 375 385
Cash paid for taxes-other 141 98 156
Cash paid for interest $ 223 $ 211 $ 206