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
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net income $ 129 $ 124
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 1 1
Deferred income taxes (19) (27)
Foreign currency gain (2) (10)
Depreciation 34 33
Amortization 114 120
Noncash interest 2 2
Stock-based compensation 6 8
Change in other long-term liabilities 5 1
Effects of changes in working capital items 6 33
Net cash provided by operating activities 276 285
Investing activities:    
Capital expenditures (39) (31)
Expenditures for cable and satellite television distribution rights (1) (44)
Changes in other noncurrent assets (2) (3)
Net cash used in investing activities (42) (78)
Financing activities:    
Principal payments of debt and capital lease obligations (438) (412)
Principal borrowings of debt from senior secured credit facility 515 351
Payment of debt origination fees 0 (3)
Dividends paid to Liberty (234) (59)
Dividends paid to noncontrolling interest (21) (20)
Other financing activities (9) (1)
Net cash used in financing activities (187) (144)
Effect of foreign exchange rate changes on cash and cash equivalents (13) (10)
Net increase in cash and cash equivalents 34 53
Cash and cash equivalents, beginning of period 327 347
Cash and cash equivalents, end of period 361 400
Effects of changes in working capital items:    
Decrease in accounts receivable 379 350
Increase in inventories (71) (103)
Increase in prepaid expenses (15) (5)
Decrease in accounts payable-trade (115) (67)
Decrease in accrued liabilities and other (172) (142)
Effects of changes in working capital items $ 6 $ 33