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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities:    
Net income (loss) $ 390,075 $ 411,944
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 204,630 227,566
Realized and unrealized losses (gains) on investments (2,272) (66,980)
Non-cash, stock-based compensation 6,774 4,477
Deferred tax expense (benefit) 150,006 78,730
Other, net 6,752 9,002
Changes in current assets and current liabilities, net 180,802 263,297
Net cash flows from operating activities 936,767 928,036
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (58,876) (23,059)
Sales and maturities of marketable investment securities 78,703 440,669
Settlement of derivative financial instruments   220,871
Purchases of property and equipment (114,899) (161,200)
Capitalized interest related to FCC authorizations (Note 2) (282,597) (225,360)
Other, net (85,305) 13,630
Net cash flows from investing activities (462,974) 265,551
Cash Flows From Financing Activities:    
Proceeds from issuance of convertible notes (Note 9) 1,000,000  
Redemption and repurchases of senior notes   (1,500,000)
Repayment of long-term debt and capital lease obligations (9,162) (10,348)
Payments made to parent of transferred businesses (7,098) (30,525)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 6,374 3,056
Debt issuance costs (6,158)  
Other, net   103
Net cash flows from financing activities 983,956 (1,537,714)
Net increase (decrease) in cash and cash equivalents 1,457,749 (344,127)
Cash and cash equivalents, beginning of period 5,324,503 1,053,983
Cash and cash equivalents, end of period $ 6,782,252 $ 709,856