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 Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income $ 191.6 $ 177.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14.9 12.9
Amortization of program rights 438.4 442.8
Program rights payments (348.0) (323.2)
Amortization of investment in films and television programs 94.7 172.9
Investment in films and television programs (267.4) (209.4)
Stock compensation 22.9 25.1
Payments of long term incentive plan 0 (3.2)
Deferred income taxes (15.1) 2.8
Other non-operating and non-cash items (8.0) 9.7
Changes in assets and liabilities:    
Current and other assets 32.5 (67.4)
Due to affiliate 0 (39.5)
Payables and other liabilities (49.3) (10.8)
Net cash provided by operating activities 107.2 190.0
Investing activities:    
Purchases of property and equipment (5.9) (6.2)
Cash received from equity investee 10.7 0
Net cash provided by (used in) investing activities 4.8 (6.2)
Financing activities:    
Borrowings of debt 366.5 1,081.0
Payments of debt (234.6) (601.5)
Debt issuance costs 0 (2.3)
Exercise of stock options 4.5 0
Minimum withholding of taxes related to stock compensation (10.9) (3.0)
Excess tax benefit from stock compensation 9.0 2.1
Repurchases of common stock (226.6) (179.2)
Distributions to Old LMC 0 (1,200.0)
Net cash used in financing activities (92.1) (902.9)
Effect of exchange rate changes on cash and cash equivalents 0 (0.1)
Net increase (decrease) in cash and cash equivalents 19.9 (719.2)
Beginning of period 25.7 749.8
End of period $ 45.6 $ 30.6