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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Net income $ 452 $ 419
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 3 4
Deferred income taxes (73) (68)
Foreign currency loss (gain) 6 (27)
Depreciation 116 103
Amortization 324 345
Change in fair value of financial instruments and noncash interest 5 5
Stock-based compensation 23 24
Change in other long-term liabilities (7) 0
Effects of changes in working capital items 58 44
Net cash provided by operating activities 907 849
Investing activities:    
Capital expenditures (83) (140)
Expenditures for television distribution rights (35) (8)
Changes in other noncurrent assets (2) (2)
Other investing activities 0 (3)
Net cash used in investing activities (120) (153)
Financing activities:    
Principal payments of debt and capital lease obligations (1,791) (1,300)
Principal borrowings of debt from senior secured credit facility 1,574 1,048
Payment of debt origination fees 0 (2)
Dividends paid to Liberty Interactive Corporation (491) (427)
Dividends paid to noncontrolling interest (22) (21)
Other financing activities (10) (9)
Net cash used in financing activities (740) (711)
Effect of foreign exchange rate changes on cash and cash equivalents 12 7
Net increase (decrease) in cash and cash equivalents 59 (8)
Cash and cash equivalents, beginning of period 284 327
Cash and cash equivalents, end of period 343 319
Effects of changes in working capital items:    
Decrease in accounts receivable 369 583
Increase in inventories (191) (192)
Increase in prepaid expenses and other current assets (4) (14)
Increase (decrease) in accounts payable-trade 20 (40)
Decrease in accrued liabilities and other (136) (293)
Effects of changes in working capital items $ 58 $ 44