Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Net income $ 419 $ 402
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 4 7
Deferred income taxes (68) (78)
Foreign currency gain (27) (11)
Depreciation 103 101
Amortization 345 341
Noncash interest 5 6
Loss on extinguishment of debt 0 21
Stock-based compensation 24 24
Change in other long-term liabilities 0 17
Effects of changes in working capital items 44 (37)
Net cash provided by operating activities 849 793
Investing activities:    
Capital expenditures (140) (132)
Expenditures for cable and satellite television distribution rights (8) (48)
Changes in other noncurrent assets (2) (1)
Other investing activities (3) 2
Net cash used in investing activities (153) (179)
Financing activities:    
Principal payments of debt and capital lease obligations (1,300) (1,565)
Principal borrowings of debt from senior secured credit facility 1,048 1,470
Payment of debt origination fees (2) (3)
Payment of bond premium fees 0 (18)
Dividends paid to Liberty 427 444
Dividends paid to noncontrolling interest (21) (20)
Other financing activities (9) (14)
Net cash used in financing activities (711) (594)
Effect of foreign exchange rate changes on cash and cash equivalents 7 (4)
Net (decrease) increase in cash and cash equivalents (8) 16
Cash and cash equivalents, beginning of period 327 347
Cash and cash equivalents, end of period 319 363
Effects of changes in working capital items:    
Decrease in accounts receivable 583 319
Increase in inventories (192) (298)
Increase in prepaid expenses and other current assets (14) (5)
(Decrease) increase in accounts payable-trade (40) 84
Decrease in accrued liabilities and other (293) (137)
Effects of changes in working capital items $ 44 $ (37)