Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings (loss) $ 347 $ 865 $ 1,890
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 1,061 905 824
Stock-based compensation 312 192 230
Share of (earnings) loss of affiliates, net (6) (18) (104)
Realized and unrealized (gains) losses on financial instruments, net 315 (40) 88
Noncash interest expense 9 (1) 16
Losses (gains) on dilution of investment in affiliate (7) 1 (3)
Loss on early extinguishment of debt 57 1 48
Deferred income tax expense (benefit) 120 167 (1,064)
Other charges (credits), net 8 (17) 4
Changes in operating assets and liabilities      
Current and other assets (3) (31) 50
Payables and other liabilities 100 132 (247)
Net cash provided (used) by operating activities 2,313 2,156 1,732
Cash flows from investing activities:      
Cash proceeds from dispositions of investments 442 399 21
Cash (paid) received for acquisitions, net of cash acquired 313 (2) (1,754)
Investments in equity method affiliates and debt and equity securities (29) (414) (862)
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities 11 14  
Capital expended for property and equipment, including internal-use software and website development (510) (403) (517)
Sales of short term investments and other marketable securities 73    
Other investing activities, net 14 36 (25)
Net cash provided (used) by investing activities 314 (370) (3,137)
Cash flows from financing activities:      
Borrowings of debt 6,020 3,617 6,697
Repayments of debt (4,871) (4,057) (5,107)
Proceeds from issuance of Series C Liberty Formula One common stock     1,938
Series C Liberty SiriusXM common stock repurchases (443) (466)  
Subsidiary shares repurchased by subsidiary (2,159) (1,314) (1,409)
Cash dividends paid by subsidiary (68) (59) (60)
Taxes paid in lieu of shares issued for stock-based compensation (211) (130) (135)
Other financing activities, net (41) 29 (48)
Net cash provided (used) by financing activities (1,773) (2,380) 1,876
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash   (1) 4
Net increase (decrease) in cash, cash equivalents and restricted cash 854 (595) 475
Cash, cash equivalents and restricted cash at beginning of period 452 1,047 572
Cash, cash equivalents and restricted cash at end of period $ 1,306 $ 452 $ 1,047