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, 2017
Mar. 31, 2016
Net income $ 135 $ 133
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 2 1
Deferred income taxes (22) (19)
Foreign currency loss (gain) 2 (2)
Depreciation 41 34
Amortization 116 114
Change in fair value of financial instruments and noncash interest 2 2
Stock-based compensation 6 6
Change in other long-term liabilities (1) 5
Effects of changes in working capital items 176 6
Net cash provided by operating activities 457 280
Investing activities:    
Capital expenditures (17) (39)
Expenditures for television distribution rights (1) (1)
Changes in other noncurrent assets (3) (2)
Other investing activities 0 (6)
Net cash used in investing activities (21) (48)
Financing activities:    
Principal payments of debt and capital lease obligations (650) (438)
Principal borrowings of debt from senior secured credit facility 454 515
Dividends paid to Liberty Interactive Corporation (183) (234)
Dividends paid to noncontrolling interest (22) (21)
Other financing activities (4) (7)
Net cash used in financing activities (405) (185)
Effect of foreign exchange rate changes on cash and cash equivalents 9 (13)
Net increase in cash and cash equivalents 40 34
Cash and cash equivalents, beginning of period 284 327
Cash and cash equivalents, end of period 324 361
Effects of changes in working capital items:    
Decrease in accounts receivable 333 379
Increase in inventories (66) (71)
Increase in prepaid expenses and other current assets (11) (15)
Decrease in accounts payable-trade (62) (115)
Decrease in accrued liabilities and other (18) (172)
Effects of changes in working capital items $ 176 $ 6