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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities:    
Net income (loss) $ 361,299 $ 385,321
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 153,139 192,972
Realized and unrealized losses (gains) on investments (2,617) 36,722
Non-cash, stock-based compensation 11,537 9,060
Deferred tax expense (benefit) 53,921 92,064
Other, net (4,469) (32,426)
Changes in current assets and current liabilities, net 160,119 67,838
Net cash flows from operating activities 732,929 751,551
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (145,162) (9,253)
Sales and maturities of marketable investment securities 513,033 313,567
Purchases of property and equipment (120,859) (70,521)
Capitalized interest related to FCC authorizations (Note 2) (289,775) (294,003)
Other, net 2,495 3,613
Net cash flows from investing activities (40,268) (56,597)
Cash Flows From Financing Activities:    
Redemption and repurchases of senior notes (22,365) (56,473)
Repayment of long-term debt and finance lease obligations (6,632) (10,458)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 4,750 7,991
Other, net 29,000 (159)
Net cash flows from financing activities 4,753 (59,099)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents 697,414 635,855
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 5) 887,924 1,479,901
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 5) $ 1,585,338 $ 2,115,756