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
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Net income $ 443 $ 286
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in losses of investee 1 3
Deferred income taxes 3 (54)
Foreign currency (gain) loss (1) 10
Depreciation 74 78
Amortization 77 233
Change in fair value of financial instruments and noncash interest 3 3
Stock-based compensation 20 14
Change in other long-term liabilities 2 (1)
Effects of changes in working capital items 31 91
Net cash provided by operating activities 653 663
Investing activities:    
Capital expenditures (68) (44)
Expenditures for television distribution rights (61) (29)
Changes in other noncurrent assets 0 (1)
Net cash used in investing activities (129) (74)
Financing activities:    
Principal payments of debt and capital lease obligations (1,448) (1,406)
Principal borrowings of debt from senior secured credit facility 1,278 1,094
Capital contribution received from Qurate Retail, Inc. 140 0
Dividends paid to Qurate Retail, Inc. 243 233
Dividends paid to noncontrolling interest (23) (22)
Other financing activities (7) (9)
Net cash used in financing activities (303) (576)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 4 10
Net increase in cash, cash equivalents and restricted cash 225 23
Cash, cash equivalents and restricted cash, beginning of period 268 294
Cash, cash equivalents and restricted cash, end of period 493 317
Effects of changes in working capital items:    
Decrease in accounts receivable 491 415
Increase in inventories (50) (105)
Increase in prepaid expenses and other current assets (64) (14)
Decrease in accounts payable-trade (160) (80)
Decrease in accrued liabilities and other (186) (125)
Effects of changes in working capital items $ 31 $ 91