Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating activities:    
Net income $ 58,203 $ 79,195
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,416 4,255
Amortization of program rights 135,506 150,347
Program rights payments (109,225) (153,109)
Amortization of investment in films and television programs 27,399 29,132
Investment in films and television programs (58,010) (62,638)
Stock compensation 7,254 2,582
Payments of long term incentive plan (2,360) (27,478)
Deferred income taxes 17,868 9,561
Other non-cash items (2,555) (10,273)
Changes in assets and liabilities:    
Current and other assets (27,804) 438
Due to affiliate (39,519) (23,941)
Payables and other liabilities 55,580 (21,777)
Net cash provided by (used in) operating activities 66,753 (23,706)
Investing activities:    
Purchases of property and equipment (663) (506)
Investing activities – purchases of property and equipment (663) (506)
Financing activities:    
Borrowings of debt 923,500 0
Payments of debt (516,121) (1,011)
Debt issuance costs (2,139) (381)
Distributions to Old LMC (1,200,000) 0
Repurchases of common stock 2,868 0
Minimum withholding of taxes related to stock compensation (747) 0
Excess tax benefit from stock compensation 419 0
Settlement of derivative instruments 0 3
Net cash used in financing activities (797,956) (1,389)
Effect of exchange rate changes on cash and cash equivalents (34) 89
Net decrease in cash and cash equivalents (731,900) (25,512)
Beginning of period 749,774  
End of period $ 17,874 $ 1,074,375