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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 409,182 $ 347,405
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 150,223 134,335
Non-cash interest expense, net of amortization of premium 4,231 4,230
Provision for doubtful accounts 27,377 25,707
Amortization of deferred income related to equity method investment (1,388) (1,388)
Loss (gain) on unconsolidated entity investments, net 2,183 (8,451)
Dividend received from unconsolidated entity investment 3,606 7,160
Loss on disposal of assets 0 12,912
Share-based payment expense 59,697 47,870
Deferred income taxes 220,415 202,170
Changes in operating assets and liabilities:    
Receivables (38,063) (16,305)
Inventory 2,492 (3,981)
Related party, net (5,756) (2,191)
Prepaid expenses and other current assets (6,617) (14,052)
Other long-term assets 5,937 15,081
Accounts payable and accrued expenses (69,078) (12,869)
Accrued interest (7,042) 5,448
Deferred revenue 30,779 49,288
Other long-term liabilities 4,358 1,919
Net cash provided by operating activities 792,536 794,288
Cash flows from investing activities:    
Additions to property and equipment (119,517) (67,172)
Purchases of restricted and other investments (7,355) (3,953)
Acquisition of business, net of cash acquired (107,488) 0
Investment in convertible preferred stock (172,500) 0
Loan to related parties (130,794) 0
Payments to acquire additional ownership in related parties (130,026) 0
Net cash used in investing activities (667,680) (71,125)
Cash flows from financing activities:    
Taxes paid in lieu of shares issued for stock-based compensation (22,595) (5,379)
Net proceeds (repayments) related to revolving credit facility 610,000 (340,000)
Proceeds from long-term borrowings, net of costs 0 987,294
Principal payments of long-term borrowings (6,000) (4,831)
Common stock repurchased and retired (783,824) (995,632)
Dividends paid (93,638) 0
Net cash used in financing activities (296,057) (358,548)
Net (decrease) increase in cash and cash equivalents (171,201) 364,615
Cash and cash equivalents at beginning of period 213,939 111,838
Cash and cash equivalents at end of period 42,738 476,453
Cash paid during the period for:    
Interest, net of amounts capitalized 164,147 148,398
Income taxes paid 12,264 11,478
Non-cash investing and financing activities:    
Capital lease obligations incurred to acquire assets 0 6,647
Treasury stock not yet settled 14,783 19,458
Issuance of common stock as part of investment in Sirius XM Canada $ 178,850 $ 0