XML 20 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities    
Net income $ 5 $ 24
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65 63
Unrealized losses/gains and remeasurement of foreign denominated loans 5 (17)
Deferred income taxes 42 (2)
Loss on extinguishment of debt 1 32
Net gain on investments (7)  
Non-cash interest expense 1 3
Equity-based compensation expense 18 10
Changes in operating assets and liabilities:    
Accounts receivable (93) (65)
Inventories 2 3
Royalty advances (5) 1
Accounts payable and accrued liabilities (23) (12)
Royalty payables 141 112
Accrued interest (16) (10)
Deferred revenue (3) (1)
Other balance sheet changes 3 15
Net cash provided by operating activities 136 156
Cash flows from investing activities    
Acquisition of music publishing rights, net (1) (1)
Capital expenditures (16) (8)
Investments and acquisitions of businesses, net (1) (3)
Proceeds from the sale of investments 12  
Net cash (used in) provided by investing activities (6) (12)
Cash flows from financing activities    
Proceeds from issuance of Acquisition Corp. Senior Term Loan Facility   22
Call premiums paid on early redemption of debt   (27)
Deferred financing costs paid (1) (12)
Distribution to noncontrolling interest holder (2)  
Net cash (used in) provided by financing activities (3) (38)
Effect of exchange rate changes on cash and equivalents 2 (10)
Net increase in cash and equivalents 129 96
Cash and equivalents at beginning of period 647 359
Cash and equivalents at end of period $ 776 455
4.125% Senior Secured Notes    
Cash flows from financing activities    
Proceeds from issuance of Acquisition Corp   380
4.875% Senior Secured Notes    
Cash flows from financing activities    
Proceeds from issuance of Acquisition Corp   250
6.00% Senior Secured Notes    
Cash flows from financing activities    
Repayment of Senior Secured Notes   (450)
6.25% Senior Secured Notes    
Cash flows from financing activities    
Repayment of Senior Secured Notes   (173)
5.625% Senior Secured Notes    
Cash flows from financing activities    
Repayment of Senior Secured Notes   $ (28)