Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 162,000 $ 289,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 107,000 72,000
Non-cash interest expense, net of amortization of premium 4,000 2,000
Provision for doubtful accounts 14,000 11,000
Amortization of deferred income related to equity method investment (1,000) (1,000)
Loss on extinguishment of debt (1,000) 0
Loss (gain) on unconsolidated entity investments, net 4,000 (1,000)
Gain on fair value instrument 0 (31,000)
Dividend received from unconsolidated entity investment 0 1,000
Share-based payment expense 70,000 34,000
Deferred income taxes 77,000 72,000
Changes in operating assets and liabilities:    
Receivables (13,000) (14,000)
Inventory 2,000 3,000
Related party, net (1,000) (2,000)
Prepaid expenses and other current assets (31,000) (8,000)
Other long-term assets 1,000 6,000
Operating lease right-of-use assets 19,000  
Accounts payable and accrued expenses 15,000 (38,000)
Accrued interest (42,000) (53,000)
Deferred revenue 20,000 66,000
Operating lease liabilities (17,000)  
Other long-term liabilities 5,000 7,000
Net cash provided by operating activities 396,000 415,000
Cash flows from investing activities:    
Additions to property and equipment (90,000) (81,000)
Purchases of other investments (6,000) (7,000)
Cash received from Pandora Acquisition 313,000 0
Sale of short-term investments 72,000 0
Investments in related parties and other equity investees (5,000) 0
Repayment from related party 0 3,000
Net cash provided by (used in) investing activities 284,000 (85,000)
Cash flows from financing activities:    
Taxes paid from net share settlements for stock-based compensation (33,000) (23,000)
Revolving credit facility, net of deferred financing costs 143,000 65,000
Proceeds from sale of capped call security 3,000 0
Principal payments of long-term borrowings (152,000) (4,000)
Common stock repurchased and retired (576,000) (309,000)
Dividends paid (57,000) (49,000)
Net cash used in financing activities (672,000) (320,000)
Net decrease in cash, cash equivalents and restricted cash 8,000 10,000
Cash, cash equivalents and restricted cash at beginning of period 65,000 79,000
Cash, cash equivalents and restricted cash at end of period 73,000 89,000
Cash paid during the period for:    
Interest, net of amounts capitalized 128,000 139,000
Income taxes paid 1,000 6,000
Non-cash investing and financing activities:    
Treasury stock not yet settled (28,000) 14,000
Fair value of shares issued related to acquisition of a business   0
Accumulated other comprehensive income (loss), net of tax $ (7,000) $ 9,000