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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net income (loss) $ 764,102 $ 1,182,981
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 625,625 691,149
Realized and unrealized losses (gains) on investments (44,467) (116,070)
Non-cash, stock-based compensation 20,619 10,530
Deferred tax expense (benefit) 558,423 289,309
Other, net 17,976 85,592
Changes in current assets and current liabilities, net 284,805 47,971
Net cash flows from operating activities 2,227,083 2,191,462
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (282,919) (328,198)
Sales and maturities of marketable investment securities 107,768 679,428
Settlement of derivative financial instruments   562,234
Purchases of property and equipment (324,105) (469,673)
Capitalized interest related to FCC authorizations (Note 2) (769,046) (563,698)
Purchases of FCC authorizations (Note 10) (4,711,154) (1,500,000)
Purchase of strategic investments (90,381)  
Other, net 22,944 12,746
Net cash flows from investing activities (6,046,893) (1,607,161)
Cash Flows From Financing Activities:    
Proceeds from issuance of senior notes   2,000,000
Proceeds from issuance of convertible notes (Note 9) 1,000,000 3,000,000
Purchases of convertible note hedges (Note 9)   (635,100)
Proceeds from issuance of warrants (Note 9)   375,600
Redemption and repurchases of senior notes (900,000) (1,500,000)
Repayment of long-term debt and capital lease obligations (32,409) (32,428)
Payments made to parent of transferred businesses (7,098) (46,476)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 24,171 12,186
Debt issuance costs (6,158) (26,622)
Other, net (349) (500)
Net cash flows from financing activities 78,157 3,146,660
Net increase (decrease) in cash and cash equivalents (3,741,653) 3,730,961
Cash and cash equivalents, beginning of period 5,324,503 1,053,983
Cash and cash equivalents, end of period $ 1,582,850 $ 4,784,944