Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net income $ 642 $ 662 $ 633
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in losses of investee 6 9 8
Deferred income taxes (43) (90) (202)
Foreign currency gain (38) (14) (3)
Depreciation 142 134 135
Amortization 463 454 452
Change in fair value of financial instruments and noncash interest 5 7 9
Loss on extinguishment of debt 0 21 48
Stock-based compensation 32 31 44
Change in other long-term liabilities (8) 0 47
Effects of changes in working capital items (23) (186) 58
Net cash provided by operating activities 1,178 1,028 1,229
Investing activities:      
Capital expenditures (179) (215) (183)
Expenditures for cable and satellite television distribution rights (38) (72) (31)
Decreases in restricted cash 1 0 2
Changes in other noncurrent assets (1) 0 0
Other investing activities (3) 2 1
Net cash used in investing activities (220) (285) (211)
Financing activities:      
Principal payments of debt and capital lease obligations (1,733) (2,177) (3,049)
Principal borrowings of debt from senior secured credit facility 1,505 2,974 1,852
Proceeds from issuance of senior secured notes, net of original issue discount 0 0 1,997
Payment of debt origination fees (2) (3) (24)
Payment of bond premium fees 0 (18) (32)
Dividends paid to Liberty (703) (1,485) (1,765)
Dividends paid to noncontrolling interest (39) (36) (42)
Other financing activities (9) (15) (19)
Net cash used in financing activities (981) (760) (1,082)
Effect of foreign exchange rate changes on cash and cash equivalents (20) (3) (46)
Net decrease in cash and cash equivalents (43) (20) (110)
Cash and cash equivalents, beginning of period 327 347 457
Cash and cash equivalents, end of period 284 327 347
Effects of changes in working capital items:      
Decrease (increase) in accounts receivable 117 (178) (96)
(Increase) decrease in inventories (38) (68) 20
Decrease (increase) in prepaid expenses and other current assets 29 (9) (1)
Increase in accounts payable-trade 22 27 172
(Decrease) increase in accrued liabilities and other (153) 42 (37)
Effects of changes in working capital items (23) (186) 58
Cash paid for taxes-to Liberty 395 330 375
Cash paid for taxes-other 105 141 98
Cash paid for interest $ 210 $ 223 $ 211