| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||||
Net income | ||||||||||||
2,213 | 681 | -313 | 1,218 | 1,048 | 1,137 | 1,077 | 945 | 1,133 | 669 | 564 | 444 | -68 |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||
Content rights amortization and impairment | ||||||||||||
2,853 | 3,288 | 1,910 | 1,773 | 1,709 | 1,557 | 1,190 | 865 | 846 | 715 | 709 | 654 | - |
Depreciation and amortization | ||||||||||||
1,347 | 1,398 | 330 | 322 | 330 | 329 | 276 | 117 | 119 | 132 | 155 | 232 | 68 |
Gains on sales of investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 |
Deferred income taxes | ||||||||||||
504 | 131 | 199 | 27 | -2 | 181 | -83 | 70 | -40 | -11 | - | -190 | 56 |
Goodwill, Impairment Loss | ||||||||||||
155 | 0 | 1,327 | 0 | 0 | - | - | - | - | - | - | - | - |
Intangible impairment charges | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 30 | 165 |
Share-based compensation (benefit) expense | ||||||||||||
142 | 80 | 39 | 69 | 35 | 78 | 190 | 154 | 99 | 182 | 228 | -66 | 1 |
Equity in losses of equity method investee companies, including cash distributions | ||||||||||||
-62 | -138 | -223 | -44 | -8 | 1 | 4 | -106 | -65 | -72 | -28 | - | - |
Other than Temporary Impairment Losses, Investments | ||||||||||||
- | - | - | 62 | 0 | 0 | - | - | - | - | - | - | - |
Launch amortization expense | ||||||||||||
- | - | - | - | - | - | - | 20 | 52 | - | - | - | - |
Gain (Loss) on Extinguishment of Debt | ||||||||||||
-28 | 0 | -54 | 0 | 0 | - | - | - | - | - | - | - | - |
Remeasurement gain on previously held equity interest | ||||||||||||
14 | 0 | 34 | 0 | 2 | 29 | 92 | 0 | 0 | - | - | - | - |
Realized gain from derivative instruments, net | ||||||||||||
14 | 15 | 0 | -3 | -5 | 0 | -55 | 0 | 0 | - | - | - | - |
(Gain) loss on disposition | ||||||||||||
0 | 84 | -4 | 63 | -17 | 31 | 19 | -6 | 129 | 9 | 252 | 76 | 1 |
Equity in earnings of Discovery Communications Holding, LLC | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 142 |
Other, net | ||||||||||||
-42 | -141 | -85 | -50 | -35 | -44 | -50 | -12 | -17 | -47 | -44 | 134 | -8 |
Changes in operating assets and liabilities, net of acquisitions and dispositions: | ||||||||||||
Receivables, net | ||||||||||||
7 | 84 | 258 | 25 | 44 | -6 | 120 | 59 | 179 | 81 | 37 | 48 | -4 |
Content rights and payables, net | ||||||||||||
-3,060 | -2,883 | -1,947 | -1,904 | -1,773 | -1,683 | -1,426 | -1,091 | -884 | -774 | -758 | -797 | 0 |
Accounts payable and accrued liabilities | ||||||||||||
122 | -74 | 265 | -10 | -2 | 138 | 106 | 171 | 6 | -1 | 28 | -43 | -11 |
Share-based compensation liabilities | ||||||||||||
- | - | - | - | - | -81 | -64 | -45 | -126 | -158 | -81 | -49 | 0 |
Prepaid income taxes and income taxes receivable | ||||||||||||
-4 | -57 | -20 | 31 | 64 | -40 | 5 | 11 | -72 | 107 | - | - | - |
Foreign currency, prepaid expenses and other assets, net | ||||||||||||
32 | -64 | -25 | 101 | 10 | 5 | 12 | 21 | 31 | 30 | - | 32 | 6 |
Proceeds from dispositions, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 300 | 139 | - |
Investment proceeds | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 24 | 24 | - |
Investments in equity method investees, net | ||||||||||||
- | - | - | - | - | - | 28 | 404 | 151 | 127 | 31 | 4 | - |
Other, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 14 | - | - |
Cash provided by operating activities | ||||||||||||
3,399 | 2,576 | 1,629 | 1,380 | 1,294 | 1,318 | 1,285 | 1,099 | 1,100 | 668 | 642 | 573 | 58 |
Investing Activities | ||||||||||||
Net cash acquired from Discovery Formation | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 39 | 0 |
Business acquisitions, net of cash acquired | ||||||||||||
73 | 8,565 | 60 | 0 | 80 | 372 | 1,861 | 149 | 26 | 38 | - | 8 | 0 |
Investments in and advances to equity investments | ||||||||||||
254 | 61 | 444 | 272 | 272 | 180 | - | - | - | - | - | - | - |
Purchases of property and equipment | ||||||||||||
289 | 147 | 135 | 88 | 103 | 120 | 115 | 77 | 58 | 49 | 55 | 102 | 47 |
Proceeds from Divestiture of Interest in Joint Venture | ||||||||||||
125 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
Investments in cost method investments | ||||||||||||
- | - | - | - | - | - | 0 | - | - | - | - | - | - |
Payments for derivative instruments, net | ||||||||||||
-54 | 2 | 101 | 0 | 9 | 0 | 55 | 0 | 0 | - | - | - | - |
Proceeds from sale of assets | ||||||||||||
4 | 68 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from dispositions, net of cash disposed | ||||||||||||
0 | 107 | 29 | 19 | 61 | 45 | 28 | 0 | 0 | - | - | - | - |
Distributions from equity method investees | ||||||||||||
0 | 1 | 77 | 87 | 87 | 61 | 47 | 17 | 21 | 0 | - | - | - |
Proceeds from dispositions | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 2 |
Other investing activities, net | ||||||||||||
5 | -6 | -1 | 2 | -15 | 2 | 3 | 30 | 0 | -24 | - | - | -30 |
Cash used in investing activities | ||||||||||||
-438 | -8,593 | -633 | -256 | -301 | -568 | -1,987 | -643 | -214 | -190 | 238 | 88 | -15 |
Financing Activities | ||||||||||||
Principal repayments of debt, including discount payment | ||||||||||||
2,658 | 16 | 650 | 0 | 854 | 0 | 0 | - | - | - | - | - | - |
Net repayments of revolver loans | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -315 | -125 | 0 |
Ascent Media Corporation spin-off | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -356 | 0 |
Proceeds from Issuance of Long-term Debt | ||||||||||||
1,479 | 0 | 7,488 | 498 | 936 | 415 | 1,198 | 992 | 639 | 2,970 | 970 | - | 0 |
Borrowings under term loan facilities | ||||||||||||
0 | 2,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Principal repayments of term loans | ||||||||||||
0 | 2,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Payments for Repurchase of Common Stock | ||||||||||||
- | - | - | 1,374 | - | - | - | - | 997 | 605 | - | - | - |
Cash prepayments for common stock repurchase contracts, net | ||||||||||||
- | - | - | -57 | - | - | - | - | - | - | - | - | - |
Repurchases of stock | ||||||||||||
633 | 0 | 603 | - | 951 | 1,422 | 1,305 | 1,380 | - | - | - | - | - |
Prepayments for outstanding common stock repurchase contracts | ||||||||||||
- | - | - | - | 0 | 0 | - | - | - | - | - | - | - |
Purchase of redeemable noncontrolling interests | ||||||||||||
- | - | - | - | 548 | 1 | 0 | - | - | - | - | - | - |
Distributions to noncontrolling interests and redeemable noncontrolling interests | ||||||||||||
250 | 76 | 30 | 22 | 42 | 2 | 0 | - | - | - | - | - | - |
Principal repayments of revolving credit facility | ||||||||||||
225 | 200 | 475 | 835 | 265 | 660 | 0 | - | - | - | - | - | - |
Payments for bridge financing commitment fees | ||||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - | - | - |
Debt issuance cost | ||||||||||||
- | - | - | - | - | - | - | 11 | - | - | - | - | - |
Principal repayments of long-term debt | ||||||||||||
- | - | - | - | - | - | - | - | - | 2,883 | 1,012 | 257 | 0 |
Principal repayments of finance lease obligations | ||||||||||||
44 | 50 | 33 | 28 | 27 | 19 | 32 | 22 | 20 | 10 | 14 | 29 | 0 |
Hedge of borrowings from debt instruments | ||||||||||||
18 | 0 | 0 | 40 | 29 | 0 | 0 | - | - | - | - | - | - |
(Repayments) borrowings under program financing line of credit, net | ||||||||||||
-12 | 22 | 0 | - | - | - | - | - | - | - | - | - | - |
Share-based plan (payments) proceeds, net | ||||||||||||
-2 | 54 | 16 | 39 | -6 | 44 | 73 | 119 | 88 | - | - | - | - |
Commercial paper repayments, net | ||||||||||||
0 | -5 | -48 | -45 | -136 | 229 | 0 | 0 | - | - | - | - | - |
Borrowings under revolving credit facility | ||||||||||||
0 | 0 | 350 | 613 | 1,016 | 698 | 0 | 0 | - | - | - | - | - |
Borrowings under program financing line of credit | ||||||||||||
- | - | - | 0 | - | - | - | - | - | - | - | - | - |
Repurchases of preferred stock | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
Tax settlements associated with equity-based plans | ||||||||||||
- | - | - | - | - | - | - | - | 1 | - | - | - | - |
Purchase of noncontrolling interests | ||||||||||||
- | - | - | - | - | - | - | - | - | 148 | - | - | - |
Cash distributions to noncontrolling interest | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 13 | - | 0 |
Cash proceeds from equity-based plans, net | ||||||||||||
- | - | - | - | - | - | - | - | 61 | 47 | 28 | - | 13 |
Excess tax benefits from stock-based compensation | ||||||||||||
- | - | - | - | - | - | - | - | 28 | 19 | - | - | - |
Other financing activities, net | ||||||||||||
6 | -12 | -64 | -13 | -13 | -16 | -19 | -3 | -7 | -31 | - | -7 | -1 |
Cash used in financing activities | ||||||||||||
-2,357 | -283 | 5,951 | -1,184 | -919 | -734 | -85 | -305 | -297 | -641 | -356 | -774 | 12 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||||||||
-38 | -23 | 62 | -30 | -51 | -57 | -6 | 2 | -7 | 6 | 5 | -2 | 0 |
Net change in cash, cash equivalents, and restricted cash | ||||||||||||
566 | -6,323 | 7,009 | -90 | 23 | -41 | -793 | 153 | 582 | -157 | 529 | -115 | 55 |
Supplemental Cash Flow Information | ||||||||||||
Cash paid for taxes, net | ||||||||||||
- | - | - | - | - | - | - | 485 | 288 | 395 | 444 | 194 | - |
Periodic interest payments for debt, interest rate swaps and capital lease obligations | ||||||||||||
- | - | - | - | - | - | - | - | - | 217 | 242 | 251 | - |
Make-whole premiums, termination payments, and repayment of original issue discount | ||||||||||||
- | - | - | - | - | - | - | - | - | 148 | 3 | - | - |
Cash paid for interest, net as reported in operating activities | ||||||||||||
- | - | - | - | - | - | - | 244 | 205 | 365 | 245 | 251 | - |
Noncash Investing and Financing Transactions | ||||||||||||
Investment in OWN | ||||||||||||
- | - | - | - | - | - | - | - | 273 | 0 | - | - | - |
Assets acquired under capital lease arrangements | ||||||||||||
- | - | - | - | - | - | - | 25 | 0 | 28 | 61 | 63 | - |
Accrued purchases of property and equipment | ||||||||||||
- | - | - | - | - | - | - | 11 | 14 | - | - | - | - |
Stock dividends to preferred interests | ||||||||||||
- | - | - | - | - | - | - | - | - | 1 | 8 | - | - |
Fair value of assets | ||||||||||||
- | - | - | - | - | - | - | - | - | 38 | - | - | - |
Fair value of liabilities | ||||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - | - |
Cash paid, net of cash acquired | ||||||||||||
73 | 8,565 | 60 | 0 | 80 | - | - | - | - | 38 | - | 8 | 0 |