Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net earnings (loss) $ 468 $ 200
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 447 387
Stock-based compensation 99 97
Share of (earnings) loss of affiliates, net (14) (12)
Realized and unrealized (gains) losses on financial instruments, net (211) 61
Noncash interest expense (benefit) (6) 6
Deferred income tax expense (benefit) 72 176
Other, net 16 (4)
Changes in operating assets and liabilities    
Current and other assets (99) (37)
Payables and other current liabilities 496 (135)
Net cash provided (used) by operating activities 1,268 739
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities (399) (442)
Cash proceeds from sale of investments 243 6
Net cash paid for the acquisition of Formula 1   (1,647)
Capital expended for property and equipment (191) (266)
Other investing activities, net 47 (119)
Net cash provided (used) by investing activities (300) (2,468)
Cash flows from financing activities:    
Borrowings of debt 1,583 2,597
Repayments of debt (2,418) (1,791)
Proceeds from Issuance of Series C Liberty Formula One Common Stock   1,938
Series C Liberty SiriusXM stock repurchases (218)  
Shares repurchased by subsidiary (334) (784)
Cash dividends paid by subsidiary (29) (30)
Taxes paid in lieu of shares issued for stock-based compensation (81) (32)
Other financing activities, net 46 8
Net cash provided (used) by financing activities (1,451) 1,906
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (1) 5
Net increase (decrease) in cash, cash equivalents and restricted cash (484) 182
Cash, cash equivalents and restricted cash at beginning of period 1,047 572
Cash, cash equivalents and restricted cash at end of period 563 754
Liberty Sirius XM Group    
Cash flows from operating activities:    
Net earnings (loss) 530 374
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 181 177
Stock-based compensation 82 71
Share of (earnings) loss of affiliates, net   2
Realized and unrealized (gains) losses on financial instruments, net (120)  
Noncash interest expense (benefit) (8) 3
Deferred income tax expense (benefit) 123 215
Other, net   2
Changes in operating assets and liabilities    
Current and other assets 1 (15)
Payables and other current liabilities 163 (39)
Net cash provided (used) by operating activities 953 785
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities (395) (434)
Capital expended for property and equipment (174) (119)
Other investing activities, net 3 (114)
Net cash provided (used) by investing activities (566) (667)
Cash flows from financing activities:    
Borrowings of debt 1,171 980
Repayments of debt (1,388) (376)
Series C Liberty SiriusXM stock repurchases (218)  
Shares repurchased by subsidiary (334) (784)
Cash dividends paid by subsidiary (29) (30)
Taxes paid in lieu of shares issued for stock-based compensation (79) (29)
Other financing activities, net 50 7
Net cash provided (used) by financing activities (827) (232)
Net increase (decrease) in cash, cash equivalents and restricted cash (440) (114)
Cash, cash equivalents and restricted cash at beginning of period 625 297
Cash, cash equivalents and restricted cash at end of period 185 183
Braves Group    
Cash flows from operating activities:    
Net earnings (loss) (55) (51)
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 39 26
Stock-based compensation 5 8
Share of (earnings) loss of affiliates, net (6) (4)
Noncash interest expense (benefit) 2 1
Deferred income tax expense (benefit) (2) 23
Other, net 14 (3)
Changes in operating assets and liabilities    
Current and other assets (3) (51)
Payables and other current liabilities 37 24
Net cash provided (used) by operating activities 67 (14)
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities   (2)
Cash proceeds from sale of investments   5
Capital expended for property and equipment (14) (145)
Other investing activities, net 36 5
Net cash provided (used) by investing activities 22 (137)
Cash flows from financing activities:    
Borrowings of debt 123 214
Repayments of debt (180) (42)
Net cash provided (used) by financing activities (57) 172
Net increase (decrease) in cash, cash equivalents and restricted cash 32 21
Cash, cash equivalents and restricted cash at beginning of period 140 107
Cash, cash equivalents and restricted cash at end of period 172 128
Formula One Group    
Cash flows from operating activities:    
Net earnings (loss) (7) (123)
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 227 184
Stock-based compensation 12 18
Share of (earnings) loss of affiliates, net (8) (10)
Realized and unrealized (gains) losses on financial instruments, net (91) 61
Noncash interest expense (benefit)   2
Deferred income tax expense (benefit) (49) (62)
Other, net 2 (3)
Changes in operating assets and liabilities    
Current and other assets (97) 29
Payables and other current liabilities 296 (120)
Net cash provided (used) by operating activities 248 (32)
Cash flows from investing activities:    
Investments in equity method affiliates and debt and equity securities (4) (6)
Cash proceeds from sale of investments 243 1
Net cash paid for the acquisition of Formula 1   (1,647)
Capital expended for property and equipment (3) (2)
Other investing activities, net 8 (10)
Net cash provided (used) by investing activities 244 (1,664)
Cash flows from financing activities:    
Borrowings of debt 289 1,403
Repayments of debt (850) (1,373)
Proceeds from Issuance of Series C Liberty Formula One Common Stock   1,938
Taxes paid in lieu of shares issued for stock-based compensation (2) (3)
Other financing activities, net (4) 1
Net cash provided (used) by financing activities (567) 1,966
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (1) 5
Net increase (decrease) in cash, cash equivalents and restricted cash (76) 275
Cash, cash equivalents and restricted cash at beginning of period 282 168
Cash, cash equivalents and restricted cash at end of period $ 206 $ 443