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, 2017
Dec. 31, 2016
Dec. 31, 2015
Net income $ 972 $ 642 $ 662
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in losses of investee 3 6 9
Deferred income taxes (324) (43) (90)
Foreign currency loss (gain) 6 (38) (14)
Depreciation 155 142 134
Amortization 364 463 454
Change in fair value of financial instruments and noncash interest 4 5 7
Loss on extinguishment of debt 0 0 21
Stock-based compensation 31 32 31
Change in other long-term liabilities (19) (8) 0
Effects of changes in working capital items 10 (23) (186)
Net cash provided by operating activities 1,202 1,178 1,028
Investing activities:      
Capital expenditures (152) (179) (215)
Expenditures for television distribution rights (50) (38) (72)
Decreases in restricted cash 2 1 0
Changes in other noncurrent assets (1) (1) 0
Other investing activities 0 (3) 2
Net cash used in investing activities (201) (220) (285)
Financing activities:      
Principal payments of debt and capital lease obligations (2,278) (1,733) (2,177)
Principal borrowings of debt from senior secured credit facility 2,162 1,505 2,974
Payment of debt origination fees 0 (2) (3)
Payment of bond premium fees 0 0 (18)
Dividends paid to Liberty Interactive Corporation (866) (703) (1,485)
Dividends paid to noncontrolling interest (40) (39) (36)
Other financing activities (16) (9) (15)
Net cash used in financing activities (1,038) (981) (760)
Effect of foreign exchange rate changes on cash and cash equivalents 13 (20) (3)
Net decrease in cash and cash equivalents (24) (43) (20)
Cash and cash equivalents, beginning of period 284 327  
Cash and cash equivalents, end of period 260 284 327
Effects of changes in working capital items:      
(Increase) decrease in accounts receivable (127) 117 (178)
Increase in inventories (43) (38) (68)
Decrease (increase) in prepaid expenses and other current assets 0 29 (9)
Increase in accounts payable-trade 50 22 27
Increase (decrease) in accrued liabilities and other 130 (153) 42
Effects of changes in working capital items 10 (23) (186)
Cash paid for taxes-to Liberty 363 395 330
Cash paid for taxes-other 81 105 141
Cash paid for interest $ 211 $ 210 $ 223