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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities:    
Net income (loss) $ 448,837 $ 850,006
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 416,301 467,151
Realized and unrealized losses (gains) on investments (4,759) (113,012)
Non-cash, stock-based compensation 11,863 3,745
Deferred tax expense (benefit) 347,550 185,034
Other, net 41,716 52,419
Changes in current assets and current liabilities, net 231,588 146,307
Net cash flows from operating activities 1,493,096 1,591,650
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (72,224) (136,212)
Sales and maturities of marketable investment securities 92,671 563,416
Settlement of derivative financial instruments   562,234
Purchases of property and equipment (212,387) (319,766)
Capitalized interest related to FCC authorizations (Note 2) (452,421) (405,071)
Purchases of FCC authorizations (Note 10) (4,711,154)  
Purchase of strategic investments (90,381)  
Other, net 10,754 9,049
Net cash flows from investing activities (5,435,142) 273,650
Cash Flows From Financing Activities:    
Proceeds from issuance of senior notes   2,000,000
Proceeds from issuance of convertible notes (Note 9) 1,000,000  
Redemption and repurchases of senior notes   (1,500,000)
Repayment of long-term debt and capital lease obligations (20,086) (20,858)
Payments made to parent of transferred businesses (7,098) (48,163)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 16,778 7,443
Debt issuance costs (6,158)  
Other, net   (7,548)
Net cash flows from financing activities 983,436 430,874
Net increase (decrease) in cash and cash equivalents (2,958,610) 2,296,174
Cash and cash equivalents, beginning of period 5,324,503 1,053,983
Cash and cash equivalents, end of period $ 2,365,893 $ 3,350,157