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, 2018
Mar. 31, 2017
Net income $ 207 $ 135
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in (income) losses of investee (1) 2
Deferred income taxes 6 (22)
Foreign currency loss 1 2
Depreciation 38 41
Amortization 39 116
Change in fair value of financial instruments and noncash interest 2 2
Stock-based compensation 9 6
Change in other long-term liabilities 1 (1)
Effects of changes in working capital items 47 176
Net cash provided by operating activities 349 457
Investing activities:    
Capital expenditures (36) (17)
Expenditures for television distribution rights (20) (1)
Changes in other noncurrent assets 0 (3)
Other investing activities   0
Net cash used in investing activities (56) (21)
Financing activities:    
Principal payments of debt and capital lease obligations (967) (650)
Principal borrowings of debt from senior secured credit facility 872 454
Capital contribution received from Qurate Retail, Inc. 140 0
Dividends paid to Qurate Retail, Inc. (233) (183)
Dividends paid to noncontrolling interest (23) (22)
Other financing activities (7) (4)
Net cash used in financing activities (218) (405)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 13 9
Net increase in cash, cash equivalents and restricted cash 88 40
Cash, cash equivalents and restricted cash, end of period 348  
Cash, cash equivalents and restricted cash, beginning of period 268 294
Cash, cash equivalents and restricted cash, end of period 356 334
Effects of changes in working capital items:    
Decrease in accounts receivable 352 333
Increase in inventories (67) (66)
Increase in prepaid expenses and other current assets (88) (11)
Decrease in accounts payable-trade (101) (62)
Decrease in accrued liabilities and other (49) (18)
Effects of changes in working capital items $ 47 $ 176