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
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities:    
Net income $ 177,324 $ 204,085
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,917 13,787
Amortization of program rights 442,797 473,251
Program rights payments (323,220) (366,381)
Amortization of investment in films and television programs 172,877 86,742
Investment in films and television programs (217,474) (194,988)
Stock compensation 25,127 9,888
Payments of long term incentive plan (3,195) (33,410)
Deferred income taxes 2,799 (3,265)
Other non-cash items 9,658 877
Changes in assets and liabilities:    
Current and other assets (59,269) (6,184)
Due to affiliate (39,519) (15,556)
Payables and other liabilities (10,807) 2,246
Net cash provided by operating activities 190,015 171,092
Investing activities:    
Purchases of property and equipment (6,165) (7,870)
Investing activities – purchases of property and equipment (6,165) (7,870)
Financing activities:    
Borrowings of debt 1,081,000 500,000
Payments of debt (601,445) (503,035)
Debt issuance costs (2,348) (8,007)
Distributions to Parent Due to Spin Off Arrangement and Excess Tax Payments (1,200,000) (400,000)
Repurchases of common stock (179,197) 0
Distributions to Old LMC related to stock compensation 0 (2,024)
Minimum withholding of taxes related to stock compensation (2,961) (3,643)
Excess tax benefit from stock compensation 2,096 0
Settlement of derivative instruments 0 3
Net cash used in financing activities (902,855) (416,706)
Effect of exchange rate changes on cash and cash equivalents (127) 59
Net decrease in cash and cash equivalents (719,132) (253,425)
Beginning of period 749,774 1,099,887
End of period $ 30,642 $ 846,462