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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows From Operating Activities:    
Net income (loss) $ 701,865 $ 845,607
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 302,841 365,674
Realized and unrealized losses (gains) on investments (3,455) 17,425
Non-cash, stock-based compensation 23,642 18,772
Deferred tax expense (benefit) 114,033 196,707
Other, net (24,602) (65,625)
Changes in current assets and current liabilities, net 231,995 (53,222)
Changes in current assets and current liabilities:    
Net cash flows from operating activities 1,346,319 1,325,338
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (512,742) (523,948)
Sales and maturities of marketable investment securities 868,069 461,152
Purchases of property and equipment (281,722) (168,119)
Capitalized interest related to FCC authorizations (Note 2) (445,684) (472,773)
Other, net 10,509 6,225
Net cash flows from investing activities (361,570) (697,463)
Cash Flows From Financing Activities:    
Redemption and repurchases of senior notes (22,365) (1,088,392)
Repayment of long-term debt and finance lease obligations (11,506) (20,152)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 27,416 11,730
Other, net 49,501 (2,760)
Net cash flows from financing activities 43,046 (1,099,574)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents 1,027,795 (471,699)
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) $ 1,915,719 $ 1,008,202