Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net income $ 186 $ 212
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investee 0 (1)
Deferred income taxes (1) 8
Foreign currency loss 3 1
Depreciation 46 44
Amortization 72 56
Change in fair value of financial instruments and noncash interest 4 2
Stock-based compensation 9 12
Change in other long-term liabilities (3) 1
Effects of changes in working capital items (49) 9
Net cash provided by operating activities 267 344
Investing activities:    
Capital expenditures (54) (38)
Expenditures for television distribution rights (52) (20)
Changes in other noncurrent assets (10) 0
Other investing activities 29 (25)
Net cash used in investing activities (87) (83)
Financing activities:    
Principal payments of debt and finance lease obligations (563) (1,037)
Principal borrowings of debt from senior secured credit facility 663 982
Capital contribution received from Qurate Retail, Inc. 0 140
Dividends paid to Qurate Retail, Inc. (354) (233)
Dividends paid to noncontrolling interest (22) (23)
Other financing activities (4) (14)
Net cash used in financing activities (280) (185)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (4) 13
Net (decrease) increase in cash, cash equivalents and restricted cash (104) 89
Cash, cash equivalents and restricted cash, end of period 439  
Cash, cash equivalents and restricted cash, beginning of period 550 290
Cash, cash equivalents and restricted cash, end of period 446 379
Effects of changes in working capital items:    
Decrease in accounts receivable 369 445
Increase in inventories (74) (88)
(Decrease) increase in prepaid expenses and other current assets 37 (103)
Decrease in accounts payable-trade (222) (153)
Decrease in accrued liabilities and other (159) (92)
Effects of changes in working capital items $ (49) $ 9