Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net income $ 56 $ 238
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (14) 3
Foreign currency (gain) loss (8) 2
Depreciation 35 40
Amortization 74 62
Change in fair value of financial instruments and noncash interest (1) (1)
Stock-based compensation 8 9
Change in other long-term liabilities 0 (1)
Other charges, net (10) 4
Decrease in accounts receivable 367 378
Increase in inventories (119) (60)
(Increase) decrease in prepaid expenses and other current assets (3) 29
Decrease in accounts payable-trade (178) (151)
Decrease in accrued liabilities and other (225) (305)
Net cash (used in) provided by operating activities (18) 247
Investing activities:    
Capital expenditures (34) (41)
Expenditures for television distribution rights (2) (56)
Changes in other noncurrent assets (2) (1)
Proceeds from Sales of Assets, Investing Activities 0 40
Net cash used in investing activities (18) (58)
Financing activities:    
Principal payments of debt and finance lease obligations (176) (143)
Principal borrowings of debt from senior secured credit facility 368 135
Dividends paid to noncontrolling interest (14) (16)
Withholding taxes on net share settlements of stock-based compensation (5) (15)
Net cash provided by (used in) financing activities 61 (216)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (13) (17)
Net increase (decrease) in cash, cash equivalents and restricted cash 12 (44)
Cash, cash equivalents and restricted cash, beginning of period 519 690
Cash, cash equivalents and restricted cash, end of period 531 646
Proceeds from Sale of Other Investments 20 0
Qurate    
Financing activities:    
Dividends paid to Qurate Retail, Inc. $ (112) $ (177)