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 Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 684,904 $ 541,306
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 230,136 202,215
Non-cash interest expense, net of amortization of premium 6,731 6,571
Provision for doubtful accounts 42,329 39,629
Amortization of deferred income related to equity method investment (2,082) (2,082)
Loss on extinguishment of debt 43,679 0
Gain on unconsolidated entity investments, net (7,541) (9,725)
Dividend received from unconsolidated entity investment 3,606 7,160
Loss on disposal of assets 0 12,912
Share-based payment expense 94,588 77,890
Deferred income taxes 318,190 308,613
Changes in operating assets and liabilities:    
Receivables (43,665) (38,266)
Inventory (396) (5,735)
Related party, net (77,179) (2,373)
Prepaid expenses and other current assets 16,698 (15,985)
Other long-term assets 7,559 26,668
Accounts payable and accrued expenses 1,951 (1,841)
Accrued interest (22,094) 16,715
Deferred revenue 9,955 52,421
Other long-term liabilities 6,395 11
Net cash provided by operating activities 1,313,764 1,216,104
Cash flows from investing activities:    
Additions to property and equipment (206,717) (132,246)
Purchases of restricted and other investments (7,595) (4,168)
Acquisition of business, net of cash acquired (107,736) 0
Investment in convertible preferred stock of related party (480,000) 0
Loan to related party (130,794) 0
Payments to acquire additional ownership in related party (132,205) 0
Net cash used in investing activities (1,065,047) (136,414)
Cash flows from financing activities:    
Proceeds from exercise of stock options 774 348
Taxes paid in lieu of shares issued for stock-based compensation (84,291) (32,603)
Net repayments related to revolving credit facility (100,000) (340,000)
Proceeds from long-term borrowings, net of costs 2,473,506 987,257
Principal payments of long-term borrowings (1,509,910) (8,864)
Payment of premiums on redemption of debt (33,065) 0
Common stock repurchased and retired (996,263) (1,225,284)
Dividends paid (139,854) 0
Net cash used in financing activities (389,103) (619,146)
Net (decrease) increase in cash and cash equivalents (140,386) 460,544
Cash and cash equivalents at beginning of period 213,939 111,838
Cash and cash equivalents at end of period 73,553 572,382
Cash paid during the period for:    
Interest, net of amounts capitalized 270,365 222,110
Income taxes paid 16,647 15,857
Non-cash investing and financing activities:    
Capital lease obligations incurred to acquire assets 0 6,647
Treasury stock not yet settled 13,754 12,526
Issuance of common stock as part of investment in Sirius XM Canada 178,850 0
Accumulated other comprehensive income, net of tax benefit for loan to related party $ 6,426 $ 420