| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
914,000 | 1,176,000 | 648,000 | 745,933 | 509,724 | 493,241 | 377,215 | 3,472,702 | 426,961 | 43,055 | -352,038 | -5,316,910 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
468,000 | 301,000 | 299,000 | 268,979 | 272,214 | 266,423 | 253,314 | 266,295 | 267,880 | 273,691 | 309,450 | 203,752 |
Non-cash interest expense, net of amortization of premium | |||||||||||
17,000 | 9,000 | 9,000 | 8,608 | 7,872 | 21,039 | 21,698 | 35,924 | 39,515 | 42,841 | 43,066 | -2,689 |
Impairment of goodwill | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 4,766,190 |
Provision for doubtful accounts | |||||||||||
53,000 | 51,000 | 56,000 | 55,941 | 47,237 | 44,961 | 39,016 | 34,548 | 33,164 | 32,379 | 30,602 | 21,589 |
Amortization of deferred income related to equity method investment | |||||||||||
-3,000 | -3,000 | -3,000 | -2,772 | 2,776 | 2,776 | 2,776 | 2,776 | 2,776 | 2,776 | 2,776 | 1,156 |
Restructuring, impairments and related costs | |||||||||||
- | - | - | - | - | - | - | - | - | 66,731 | 26,964 | - |
Gain (Loss) on Extinguishment of Debt | |||||||||||
-57,000 | 0 | -44,000 | -24,229 | 0 | 0 | -190,577 | -132,726 | -7,206 | -120,120 | -267,646 | -98,203 |
Gain on merger of unconsolidated entities | |||||||||||
- | - | - | - | - | - | - | - | 75,768 | 0 | - | - |
Loss on unconsolidated entity investments, net | |||||||||||
-21,000 | -10,000 | 5,000 | 12,529 | 0 | 5,547 | 5,865 | -420 | -6,520 | -11,722 | -13,664 | -28,999 |
Gain on fair value instrument | |||||||||||
0 | 43,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Dividend received from unconsolidated entity investment | |||||||||||
2,000 | 2,000 | 4,000 | 7,160 | 14,788 | 17,019 | 22,065 | 1,185 | 0 | 0 | - | - |
Gain (Loss) on Disposition of Assets | |||||||||||
- | - | - | -12,912 | -7,384 | 0 | 0 | -657 | -269 | -1,017 | - | -4,879 |
Loss on change in value of derivatives | |||||||||||
- | - | - | - | - | -34,485 | -20,393 | 0 | 0 | - | - | - |
Share-based payment expense | |||||||||||
250,000 | 133,000 | 124,000 | 108,604 | 84,310 | 78,212 | 68,876 | 63,822 | 53,190 | 60,437 | 73,981 | 87,405 |
Deferred income taxes | |||||||||||
259,000 | 257,000 | 584,000 | 323,562 | 365,499 | 327,461 | 259,787 | -3,001,818 | 8,264 | 2,308 | 4,359 | 2,476 |
Other non-cash purchase price adjustments | |||||||||||
- | - | - | - | 1,394 | 3,781 | 207,854 | 289,050 | 275,338 | 250,727 | 202,054 | -68,330 |
Distribution from investment in unconsolidated entity | |||||||||||
- | - | - | - | - | - | - | - | 4,849 | 0 | - | - |
Other | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,643 |
Changes in operating assets and liabilities: | |||||||||||
Receivables | |||||||||||
137,000 | 42,000 | 74,000 | 44,188 | 61,440 | 72,628 | 15,245 | 58,593 | 13,211 | 39,236 | 42,158 | 32,121 |
Receivables from distributors | |||||||||||
- | - | - | - | - | - | - | - | 17,241 | 11,023 | 2,788 | -14,401 |
Inventory | |||||||||||
-11,000 | 2,000 | -2,000 | -1,932 | 2,898 | 5,534 | -11,474 | -11,374 | 14,793 | 5,725 | -8,269 | -8,291 |
Related party, net | |||||||||||
10,000 | -1,000 | 2,000 | 3,485 | 14,953 | 4,303 | -40 | -9,523 | 30,036 | 9,803 | -15,305 | 22,249 |
Prepaid expenses and other current assets | |||||||||||
3,000 | 20,000 | -50,000 | -7,156 | 67,204 | 1,195 | -16,788 | -647 | -8,525 | -75,374 | -10,027 | 19,953 |
Other long-term assets | |||||||||||
-4,000 | -10,000 | -7,000 | -38,835 | 130,741 | -3,393 | -3,324 | -22,779 | -36,490 | -17,671 | -86,674 | 5,490 |
Operating lease right-of-use assets | |||||||||||
14,000 | - | - | - | - | - | - | - | - | - | - | - |
Accounts payable and accrued expenses | |||||||||||
109,000 | -20,000 | 41,000 | 78,920 | 52,696 | -17,191 | -44,009 | 46,043 | -32,010 | 5,420 | -46,645 | -83,037 |
Accrued interest | |||||||||||
32,000 | -9,000 | 23,000 | 22,978 | 11,215 | 38,355 | 8,131 | -36,451 | -2,048 | -884 | 2,429 | 23,081 |
Deferred revenue | |||||||||||
-58,000 | 70,000 | 42,000 | 79,404 | 145,242 | 48,645 | 73,593 | 101,311 | 55,336 | 133,444 | 93,578 | 79,090 |
Operating lease liabilities | |||||||||||
36,000 | - | - | - | - | - | - | - | - | - | - | - |
Related party liabilities | |||||||||||
- | - | - | - | - | - | - | -7,545 | -1,542 | -53,413 | 50,172 | 28,890 |
Other long-term liabilities | |||||||||||
9,000 | -1,000 | 7,000 | -2,942 | 7,276 | -7,035 | 12,290 | 3,042 | 152 | 272 | 46,103 | 30,249 |
Net cash provided by operating activities | |||||||||||
2,017,000 | 1,880,000 | 1,856,000 | 1,719,237 | 1,244,051 | 1,253,244 | 1,102,832 | 806,765 | 543,630 | 512,895 | 433,830 | -152,797 |
Cash flows from investing activities: | |||||||||||
Additions to property and equipment | |||||||||||
363,000 | 355,000 | 288,000 | 205,829 | 134,892 | 121,646 | 173,617 | 97,293 | 137,429 | 311,868 | 248,511 | 130,551 |
Purchases of other investments | |||||||||||
7,000 | 8,000 | 8,000 | 4,295 | - | - | - | - | - | - | - | - |
Acquisition of business, net of cash acquired | |||||||||||
-313,000 | 2,000 | 108,000 | 0 | 0 | -1,144 | 525,352 | 0 | 0 | - | - | - |
Cash received from Pandora Acquisition | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 819,521 |
Sale of short-term investments | |||||||||||
73,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Investments in related parties and other equity investees | |||||||||||
19,000 | 17,000 | 612,000 | 0 | - | - | - | - | - | - | - | - |
Repayment from related party | |||||||||||
0 | 3,000 | -131,000 | 0 | 0 | - | - | - | - | - | - | - |
Purchases of restricted and other investments | |||||||||||
- | - | - | - | 3,966 | 0 | 1,719 | 26 | 826 | 0 | - | - |
Return of capital from investment in unconsolidated entity | |||||||||||
- | - | - | - | - | 24,178 | 0 | 0 | -10,117 | 0 | - | - |
Sales of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -105 |
Investments in related parties | |||||||||||
- | - | - | - | 0 | - | - | - | - | - | - | 3,000 |
Net cash (used in) provided by investing activities | |||||||||||
-3,000 | -379,000 | -1,147,000 | -210,124 | -138,858 | -96,324 | -700,688 | -97,319 | -127,888 | -302,414 | -248,511 | 728,425 |
Cash flows from financing activities: | |||||||||||
Merger related costs | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 23,519 |
Sale of restricted and other investments | |||||||||||
- | - | - | - | - | - | - | - | - | 9,454 | - | 65,869 |
Release of restricted investments | |||||||||||
- | - | - | - | - | - | - | - | 250 | 0 | 137,850 | - |
Proceeds from exercise of stock options | |||||||||||
8,000 | 0 | 1,000 | 348 | 260 | 331 | 21,968 | 123,369 | 11,553 | 10,839 | - | 471 |
Taxes paid from net share settlements for stock-based compensation | |||||||||||
150,000 | 120,000 | 93,000 | 42,824 | 54,539 | 37,318 | 46,342 | 0 | 0 | - | - | - |
Revolving credit facility, net of deferred financing costs | |||||||||||
-439,000 | 136,000 | -90,000 | 50,000 | -40,000 | - | - | - | - | - | - | - |
Preferred stock issuance, net of costs | |||||||||||
- | - | - | - | - | - | - | - | - | - | 3,712 | - |
Proceeds from long-term borrowings, net of costs | |||||||||||
2,715,000 | 0 | 2,473,000 | 987,143 | 983,571 | 2,406,205 | 3,156,063 | 383,641 | 0 | 1,274,707 | 582,612 | 531,743 |
Proceeds from sale of capped call security | |||||||||||
3,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Payments to noncontrolling interest | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 61,880 |
Principal payments of long-term borrowings | |||||||||||
1,666,000 | 16,000 | 1,513,000 | 660,985 | 12,117 | - | - | 915,824 | 234,976 | 1,262,396 | 755,447 | 1,085,643 |
Payment of premiums on redemption of debt | |||||||||||
45,000 | 0 | 33,000 | 19,097 | 0 | 0 | 175,453 | -100,615 | -5,020 | -84,326 | -17,075 | -18,693 |
Repayment of long-term borrowings and revolving credit facility | |||||||||||
- | - | - | - | - | 1,016,420 | 1,782,160 | - | - | - | - | - |
Repayment of related party long-term borrowings | |||||||||||
- | - | - | - | - | - | 200,000 | 126,000 | 0 | 142,221 | 351,247 | - |
Common stock repurchased and retired | |||||||||||
2,159,000 | 1,314,000 | 1,409,000 | 1,673,518 | 2,018,254 | 2,496,799 | 1,762,360 | 0 | 0 | - | - | - |
Related party long-term borrowings | |||||||||||
- | - | - | - | - | - | - | - | - | 196,118 | 362,593 | - |
Dividends paid | |||||||||||
226,000 | 201,000 | 190,000 | 48,079 | 0 | 0 | - | 327,062 | 0 | 0 | - | - |
Net cash used in financing activities | |||||||||||
-1,959,000 | -1,515,000 | -854,000 | -1,407,012 | -1,141,079 | -1,144,001 | -788,284 | -962,491 | -228,443 | -7,279 | -182,276 | -634,002 |
Net (decrease) increase in cash, cash equivalents and restricted cash | |||||||||||
55,000 | -14,000 | -145,000 | 102,101 | -35,886 | 12,919 | -386,140 | -253,045 | 187,299 | 203,202 | 3,043 | -58,374 |
Supplemental Disclosure of Cash and Non-Cash Flow Information | |||||||||||
Cash paid during the period for: | |||||||||||
Interest, net of amounts capitalized | |||||||||||
337,000 | 345,000 | 310,000 | 292,556 | 269,925 | 199,424 | 169,781 | 262,039 | 258,676 | 241,160 | 257,328 | 137,542 |
Income taxes paid | |||||||||||
10,000 | 6,000 | 28,000 | 20,639 | 12,384 | 8,713 | 2,783 | 4,935 | 0 | 0 | - | - |
Acquisition related costs | |||||||||||
- | - | - | - | - | - | 2,902 | 0 | 0 | - | - | - |
Non-cash investing and financing activities: | |||||||||||
Capital lease obligations incurred to acquire assets | |||||||||||
0 | 0 | 3,000 | 6,647 | 7,487 | 719 | 11,966 | 12,781 | 0 | 0 | - | - |
Conversion of Series B preferred stock to common stock | |||||||||||
- | - | - | - | - | - | 1,293 | 1,294 | 0 | 0 | - | - |
Treasury stock not yet settled | |||||||||||
0 | 17,000 | 6,000 | 821 | 23,727 | 26,034 | 0 | 0 | - | - | - | - |
Fair value of shares issued related to acquisition of a business | |||||||||||
2,355,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | |||||||||||
14,000 | -29,000 | 19,000 | 363 | -100 | - | - | - | - | - | - | - |
Fair value of shares issued related to acquisition of a business | |||||||||||
0 | 0 | 179,000 | 0 | 0 | - | - | - | - | - | - | - |
Common stock issuance upon exercise of warrants | |||||||||||
- | - | - | - | - | - | - | - | 7 | 0 | - | - |
Conversion of 7% Exchangeable Notes to common stock, net of debt issuance and deferred financing costs | |||||||||||
- | - | - | - | - | 502,097 | 45,097 | 0 | 0 | - | - | - |
Performance incentive payments | |||||||||||
- | - | - | - | - | - | 16,900 | 0 | 0 | - | - | - |
Goodwill reduced for the exercise and vesting of certain stock awards | |||||||||||
- | - | - | - | - | - | 274 | 19,491 | 0 | 0 | - | - |
Purchase price accounting adjustments to goodwill | |||||||||||
- | - | - | - | - | 1,698 | 0 | 0 | - | - | - | - |
Share based payments in satisfaction of accrued compensation | |||||||||||
- | - | - | - | - | - | - | - | - | - | 31,291 | 8,729 |
Common stock issued in exchange of 2.5% Convertible Notes due 2009 including, accrued interest | |||||||||||
- | - | - | - | - | - | - | - | - | - | 18,000 | - |
Structuring fee on 10% Senior PIK Secured Notes due 2011 | |||||||||||
- | - | - | - | - | - | - | - | - | - | 5,918 | - |
Preferred stock issued to Liberty Media | |||||||||||
- | - | - | - | - | - | - | - | - | - | 227,716 | - |
Equity issued in acquisiton of XM | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 5,784,976 |
In-orbit satellite performance incentive | |||||||||||
- | - | - | - | - | - | - | - | - | 21,450 | 14,905 | - |
Sale-leaseback of equipment | |||||||||||
- | - | - | - | - | - | - | - | - | 5,305 | - | - |
Conversion of Series A preferred stock to common stock | |||||||||||
- | - | - | - | - | - | - | - | - | 25 | - | - |