Directv (DTV)
CashFlow / Yearly
Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Cash Flows From Operating Activities
Net income (loss)

2,775

2,885

2,977

2,636

2,312

1,007

1,613

1,462

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense

2,943

2,828

2,437

2,349

2,482

2,640

2,320

1,684

Venezuelan currency devaluation charge

281

166

-

-

-

-

-

-

DSN Northwest deconsolidation charge

-

-59

-

-

-

-

-

-

Income from discontinued operations, net of taxes

-

-

-

-

-

-

6

17

Income from continuing operations

-

-

-

-

-

-

1,607

1,445

Amortization of deferred revenues and deferred credits

48

53

75

39

36

48

104

98

Share-based compensation expense

104

100

109

103

82

55

-51

49

Equity in earnings from unconsolidated affiliates

133

198

131

109

90

51

55

-

Net foreign currency transaction loss (gain)

-87

-52

-34

-50

11

62

0

0

Dividends received

28

41

79

104

78

94

35

0

Net loss from impairment of investments

-

-

-

-

-

45

-

0

Net losses (gains) from sale of investments

19

8

122

63

6

-

-

-

Liberty transaction and related gain

-

-

-

-

67

-491

0

0

Deferred income taxes

166

323

-102

353

386

441

107

439

Excess tax benefit from share-based compensation

23

24

30

25

11

-

-

-

Other

-31

7

-85

-53

-66

-48

31

-15

Change in other operating assets and liabilities:
Accounts receivable

242

-

50

524

391

141

-95

-166

Inventories

16

-118

206

33

35

12

-18

-45

Prepaid expenses and other

81

334

-58

139

4

5

96

46

Accounts payable and accrued liabilities

361

272

370

391

437

-215

-23

255

Unearned subscriber revenue and deferred credits

-5

26

28

47

52

55

8

72

Other, net

-160

-148

-173

-31

38

-89

-84

-21

Net cash provided by operating activities

6,369

6,394

5,634

5,185

5,206

4,431

3,910

3,645

Cash Flows From Investing Activities
Cash paid for property and equipment

2,940

3,409

2,960

2,924

2,303

2,012

2,101

2,523

Cash paid for satellites

285

377

389

246

113

59

-

-

Cash paid for short-term investments

-

-

-

-

-

-

-

588

Investment in companies, net of cash acquired

47

66

16

11

617

-

-

-

Cash paid for Liberty transaction, net of cash acquired

-

-

-

-

-

-

-

0

Cash paid for Liberty transaction, net of cash acquired

-

-

-

-

-

97

204

348

Investment in companies, net of cash acquired

-

-

-

-

-

37

-

-

Proceeds from sale of investments

32

257

24

116

9

-

-

-

Cash paid for satellites

-

-

-

-

-

-

-128

-169

Sale of short-term investments

-

-

-

-

-

-

-

748

Other, net

123

158

22

-43

75

-11

-45

-58

Net cash used in investing activities

-3,363

-3,753

-3,363

-3,022

-3,099

-2,194

-2,388

-2,822

Cash Flows From Financing Activities
Issuance of commercial paper (maturity 90 days or less), net

-

-155

156

-

-

-

-

-

Proceeds from short-term borrowings

301

556

202

-

38

-

-

-

Repayment of short-term borrowings

501

559

-

39

-

-

-

-

Proceeds from borrowings under revolving credit facility

-

10

400

-

-

-

-

-

Repayment of borrowings under revolving credit facility

-

10

400

-

-

-

-

-

Proceeds from long-term debt

2,650

2,099

5,190

3,990

5,978

1,990

-

-

Cash proceeds from debt issuance

-

-

-

-

-

-

2,490

0

Debt issuance costs

14

12

36

30

44

14

19

0

Repayment of long-term debt

1,066

15

1,500

1,000

2,323

1,018

53

220

Repayment of other long-term obligations

69

63

51

184

-

-

-

-

Common shares repurchased and retired

1,386

4,000

5,175

5,496

5,111

1,696

3,174

2,025

Capital contribution

-

-

-

-

-

-

-160

0

Stock options exercised

21

-

3

-

38

35

105

118

Taxes paid in lieu of shares issued for share-based compensation

60

61

61

58

118

72

-

0

Excess tax benefit from share-based compensation

23

24

30

25

11

5

8

7

Repayment of collar loan and equity collars

-

-

-

-

1,537

751

-

0

Proceeds from short-term borrowings

-

-

-

-

-

-

-

2

Other, net

-67

10

-

-

-127

-116

-117

-121

Dividends paid to redeemable noncontrolling interest

-

-

-

-

15

-

-

-

Net cash used in financing activities

-168

-2,176

-1,242

-2,792

-3,210

-1,637

-600

-2,239

Effect of exchange rate changes on Venezuelan cash and cash equivalents

-383

-187

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

2,455

278

1,029

-629

-1,103

600

922

-1,416

Supplemental Cash Flow Information
Cash paid for interest

886

840

781

687

460

412

334

230

Cash paid for income taxes

1,513

1,479

1,406

1,042

705

484

706

408