Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 509,724 $ 493,241 $ 377,215
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 272,214 266,423 253,314
Non-cash interest expense, net of amortization of premium 7,872 21,039 21,698
Provision for doubtful accounts 47,237 44,961 39,016
Amortization of deferred income related to equity method investment (2,776) (2,776) (2,776)
Loss on extinguishment of debt and credit facilities, net 0 0 190,577
Gain on unconsolidated entity investments, net 0 (5,547) (5,865)
Dividend received from unconsolidated entity investment 14,788 17,019 22,065
Loss on disposal of assets 7,384 0 0
Loss on change in value of derivatives 0 34,485 20,393
Share-based payment expense 84,310 78,212 68,876
Deferred income taxes 365,499 327,461 259,787
Other non-cash purchase price adjustments (1,394) (3,781) (207,854)
Changes in operating assets and liabilities:      
Receivables (61,440) (72,628) (15,245)
Inventory (2,898) (5,534) 11,474
Related party, net (14,953) (4,303) 40
Prepaid expenses and other current assets (67,204) (1,195) 16,788
Other long-term assets (130,741) 3,393 3,324
Accounts payable and accrued expenses 52,696 (17,191) (44,009)
Accrued interest 11,215 38,355 8,131
Deferred revenue 145,242 48,645 73,593
Other long-term liabilities 7,276 (7,035) 12,290
Net cash provided by operating activities 1,244,051 1,253,244 1,102,832
Cash flows from investing activities:      
Additions to property and equipment (134,892) (121,646) (173,617)
Purchases of restricted and other investments (3,966) 0 (1,719)
Acquisition of business, net of cash acquired 0 1,144 (525,352)
Return of capital from investment in unconsolidated entity 0 24,178 0
Net cash used in investing activities (138,858) (96,324) (700,688)
Cash flows from financing activities:      
Proceeds from exercise of stock options 260 331 21,968
Taxes paid in lieu of shares issued for stock-based compensation (54,539) (37,318) (46,342)
Proceeds from long-term borrowings and revolving credit facility, net of costs 1,728,571 2,406,205 3,156,063
Payment of premiums on redemption of debt 0 0 (175,453)
Repayment of long-term borrowings and revolving credit facility (797,117) (1,016,420) (1,782,160)
Repayment of related party long-term borrowings 0 0 (200,000)
Common stock repurchased and retired (2,018,254) (2,496,799) (1,762,360)
Net cash used in financing activities (1,141,079) (1,144,001) (788,284)
Net (decrease) increase in cash and cash equivalents (35,886) 12,919 (386,140)
Cash and cash equivalents at beginning of period 147,724 134,805 520,945
Cash and cash equivalents at end of period 111,838 147,724 134,805
Cash paid during the period for:      
Interest, net of amounts capitalized 269,925 199,424 169,781
Income taxes paid 12,384 8,713 2,783
Acquisition related costs 0 0 2,902
Non-cash investing and financing activities:      
Capital lease obligations incurred to acquire assets 7,487 719 11,966
Conversion of Series B preferred stock to common stock 0 0 1,293
Treasury stock not yet settled 23,727 26,034 0
Conversion of 7% Exchangeable Notes to common stock, net of debt issuance and deferred financing costs 0 502,097 45,097
Performance incentive payments 0 0 16,900
Goodwill reduced for the exercise and vesting of certain stock awards 0 0 274
Purchase price accounting adjustments to goodwill $ 0 $ 1,698 $ 0