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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating Activities:        
Net income (loss) $ (45,616) $ 21,753 $ (10,017) $ 44,928
Adjustments to reconcile net income (loss) to net cash flows from operating activities:        
Depreciation and other 45,174 49,154 93,718 98,258
Amortization of intangible assets 3,309 3,847 6,662 7,695
Share-based payments expense 3,289 3,079 7,192 6,844
Windfall excess tax benefits related to share-based payments (160) (243) (686) (1,953)
Deferred income taxes (1,392) (5,440) (3,939) (15,004)
Restructuring and lease termination costs [1] 0 0 1,680 0
Loss from equity method investments, net 133 10,541 265 19,909
Amortization of deferred financing fees and debt discount 692 1,216 1,385 2,522
Loss from early extinguishment of debt 0 1,963 0 1,963
Goodwill impairment (Note 6) 85,890 0 85,890 0
Other 383 (1,040) (816) (1,164)
Cash flows from changes in operating assets and liabilities:        
Accounts receivable, net 3,254 11,283 15,077 5,331
Content library 24,703 27,505 34,659 47,486
Prepaid expenses and other current assets (18,976) (24,952) (22,082) 22,003
Other assets 154 599 322 1,036
Accounts payable (20,617) (43,605) (17,697) (70,995)
Accrued payable to retailers 6,931 8,762 (11,510) (6,723)
Other accrued liabilities (12,008) (1,589) 1,112 (4,716)
Net cash flows from (used in) operating activities [2] 75,143 62,833 181,215 [3] 157,420 [4]
Investing Activities:        
Purchases of property and equipment (19,508) (26,076) (40,217) (53,016)
Proceeds from sale of property and equipment 2,817 962 2,940 1,793
Cash paid for equity investments 0 0 0 (10,500)
Net cash flows from (used in) investing activities [2] (16,691) (25,114) (37,277) [3] (61,723) [4]
Financing Activities:        
Proceeds from issuance of senior unsecured notes 0 295,500 0 295,500
Proceeds from new borrowing on Credit Facility 77,000 230,000 112,000 505,000
Principal payments on Credit Facility (68,875) (505,000) (185,750) (534,375)
Financing costs associated with Credit Facility and senior unsecured notes 0 [1] (2,082) 0 [1] (2,082)
Settlement and conversion of convertible debt 0 (17,720) 0 (17,724)
Repurchases of common stock (22,023) (53,413) (62,731) (474,480)
Dividends paid (Note 19) (5,417) 0 (11,019) 0
Principal payments on capital lease obligations and other debt (3,033) (3,384) (6,278) (7,081)
Windfall excess tax benefits related to share-based payments 160 243 686 1,953
Withholding tax paid on vesting of restricted stock net of proceeds from exercise of stock options 1,887 563 (1,201) (1,025)
Net cash flows from (used in) financing activities [2] (20,301) (55,293) (154,293) (234,314) [4]
Effect of exchange rate changes on cash 1,623 (746) 5,367 406
Change in cash and cash equivalents 39,774 (18,320) (4,988) (138,211)
Cash and cash equivalents:        
Beginning of period 197,934 251,546 242,696 371,437
End of period 237,708 233,226 237,708 233,226
Supplemental disclosure of cash flow information:        
Cash paid during the period for interest 10,933 3,198 22,846 17,210
Cash paid during the period for income taxes, net 53,905 32,853 66,896 9,189
Supplemental disclosure of non-cash investing and financing activities:        
Purchases of property and equipment financed by capital lease obligations 257 2,467 977 5,513
Purchases of property and equipment included in ending accounts payable 2,411 1,724 4,436 1,724
Common stock issued on conversion of callable convertible debt 0 12,715 0 12,715
Non-cash debt issue costs 0 6,069 0 6,069
Additional cash flow information        
Restructuring and lease termination costs [1] $ 0 $ 0 1,680 0
Impairment of lease related assets     6,940 $ 0
Benefit from lease termination     $ 5,200  
[1] The non-cash restructuring and lease termination costs in the six months ended June 30, 2015 of $1.7 million is composed of $6.9 million in impairments of lease related assets partially offset by a $5.2 million benefit resulting from the lease termination.
[2] During the first quarter of 2015 we discontinued our Redbox operations in Canada. 2014 also includes the wind-down process of certain new ventures that were discontinued during 2013. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in all periods presented. See Note 12: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.
[3] During the first quarter of 2015 we discontinued our Redbox operations in Canada. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in all periods presented. See Note 12: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.
[4] 2014 includes the wind-down process of certain new ventures that were discontinued during 2013. Cash flows from these discontinued operations were not significant and are not segregated from cash flows from continuing operations in all periods presented.