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SEC Filings

8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 07/27/2017
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CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in millions)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
Consolidated net income
$
195

 
$
3,114

 
$
406

 
$
2,926

Adjustments to reconcile consolidated net income to net cash flows from operating activities:
 
 
 
 
 
 
 
Depreciation and amortization
2,595

 
1,436

 
5,145

 
1,975

Stock compensation expense
65

 
63

 
134

 
87

Accelerated vesting of equity awards
20

 
145

 
37

 
145

Noncash interest income, net
(88
)
 
(48
)
 
(196
)
 
(41
)
Other pension benefits
(13
)
 
(520
)
 
(26
)
 
(520
)
Loss on extinguishment of debt
1

 
110

 
35

 
110

Loss on financial instruments, net
70

 
50

 
32

 
55

Deferred income taxes
26

 
(3,192
)
 
42

 
(3,164
)
Other, net
2

 
(3
)
 
8

 

Changes in operating assets and liabilities, net of effects from acquisitions:
 
 
 
 
 
 
 
Accounts receivable
(175
)
 
(124
)
 
61

 
(100
)
Prepaid expenses and other assets
60

 
32

 
(23
)
 
11

Accounts payable, accrued liabilities and other
187

 
527

 
133

 
530

Net cash flows from operating activities
2,945

 
1,590

 
5,788

 
2,014

 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(2,148
)
 
(1,260
)
 
(3,703
)
 
(1,689
)
Change in accrued expenses related to capital expenditures
347

 
194

 
197

 
138

Purchases of cable systems, net of cash acquired

 
(28,810
)
 

 
(28,810
)
Change in restricted cash and cash equivalents

 
22,313

 

 
22,264

Other, net
(42
)
 
(4
)
 
(49
)
 
(6
)
Net cash flows from investing activities
(1,843
)
 
(7,567
)
 
(3,555
)
 
(8,103
)
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
Borrowings of long-term debt
2,506

 
3,858

 
7,146

 
5,997

Repayments of long-term debt
(2,054
)
 
(3,343
)
 
(5,529
)
 
(4,070
)
Payments for debt issuance costs
(21
)
 
(266
)
 
(42
)
 
(283
)
Issuance of equity

 
5,000

 

 
5,000

Purchase of treasury stock
(3,328
)
 
(84
)
 
(4,223
)
 
(99
)
Proceeds from exercise of stock options
14

 
19

 
86

 
24

Purchase of noncontrolling interest
(402
)
 

 
(429
)
 

Distributions to noncontrolling interest
(37
)
 
(18
)
 
(75
)
 
(18
)
Proceeds from termination of interest rate derivatives

 
88

 

 
88

Other, net
(6
)
 

 
(8
)
 

Net cash flows from financing activities
(3,328
)
 
5,254

 
(3,074
)
 
6,639

 
 
 
 
 
 
 
 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(2,226
)
 
(723
)
 
(841
)
 
550

CASH AND CASH EQUIVALENTS, beginning of period
2,920

 
1,278

 
1,535

 
5

CASH AND CASH EQUIVALENTS, end of period
$
694

 
$
555

 
$
694

 
$
555

 
 
 
 
 
 
 
 
CASH PAID FOR INTEREST
$
761

 
$
544

 
$
1,653

 
$
1,014

CASH PAID FOR TAXES
$
32

 
$
4

 
$
33

 
$
4


Addendum to Charter Communications, Inc. Second Quarter 2017 Earnings Release
Page 4 of 8