Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net income $ 208.6 $ 191.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14.3 14.9
Amortization of program rights 426.8 438.4
Program rights payments (350.2) (348.0)
Amortization of investment in films and television programs 107.0 94.7
Investment in films and television programs (285.0) (267.4)
Stock compensation 24.5 22.9
Deferred income taxes (15.3) (15.1)
Other non-operating and non-cash items (2.1) (8.0)
Changes in assets and liabilities:    
Current and other assets (1.1) 32.5
Payables and other liabilities (39.0) (49.3)
Net cash provided by operating activities 88.5 107.2
Investing activities:    
Purchases of property and equipment (9.4) (5.9)
Investment in and advances to equity investee (3.8) 0.0
Cash received from equity investee 0.0 10.7
Net cash provided by (used in) investing activities (13.2) 4.8
Financing activities:    
Borrowings of debt 769.0 366.5
Payments of debt (779.9) (234.6)
Debt issuance costs (5.0) 0.0
Exercise of stock options 11.8 4.5
Minimum withholding of taxes related to stock compensation (18.5) (10.9)
Excess tax benefit from stock compensation 15.6 9.0
Repurchases of common stock (64.7) (226.6)
Net cash used in financing activities (71.7) (92.1)
Net increase in cash and cash equivalents 3.6 19.9
Beginning of period 13.4 25.7
End of period $ 17.0 $ 45.6