Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 67.0 $ 86.1
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 4.7 4.7
Amortization of program rights 138.5 136.9
Program rights payments (126.9) (136.0)
Amortization of investment in films and television programs 47.0 36.9
Investment in films and television programs (96.2) (108.7)
Stock compensation 8.3 8.3
Deferred income taxes 0.0 (6.8)
Other non-operating and non-cash items (10.0) (13.5)
Changes in assets and liabilities:    
Current and other assets (4.6) (8.7)
Payables and other liabilities (22.4) (5.0)
Net cash provided by (used in) operating activities 5.4 (5.8)
Investing activities:    
Purchases of property and equipment (2.2) (2.2)
Investment in and advances to equity investee (4.0) 0.0
Net cash used in investing activities (6.2) (2.2)
Financing activities:    
Borrowings of debt 133.0 95.0
Payments of debt (51.4) (81.3)
Repurchases of common stock (83.9) (13.0)
Exercise of stock options 2.2 4.6
Minimum withholding of taxes related to stock compensation (1.0) (5.2)
Excess tax benefit from stock compensation 1.0 4.6
Net cash provided by (used in) financing activities (0.1) 4.7
Net decrease in cash and cash equivalents (0.9) (3.3)
Beginning of period 10.7 13.4
End of period $ 9.8 $ 10.1