Comcast 2014 Annual Report Download - page 158

Table of Contents
NBCUniversal Media, LLC
Consolidated Statement of Cash Flows
See accompanying notes to consolidated financial statements.
Year ended December 31 (in millions)
2014
2013
2012
Operating Activities
Net income
$
3,297
$
2,122
$
3,231
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
1,495
1,411
1,326
Share-based compensation
—
7
7
Equity in net (income) losses of investees, net
(46
)
93
(183
)
Cash received from investees
74
90
189
Net (gain) loss on investment activity and other
136
345
(1,093
)
Deferred income taxes
(12
)
(10
)
15
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Current and noncurrent receivables, net
(25
)
(752
)
(643
)
Film and television costs, net
(571
)
2
100
Accounts payable and accrued expenses related to trade creditors
(88
)
(789
)
51
Other operating assets and liabilities
264
505
333
Net cash provided by operating activities
4,524
3,024
3,333
Investing Activities
Capital expenditures
(1,221
)
(1,160
)
(763
)
Cash paid for intangible assets
(130
)
(113
)
(113
)
Acquisitions of real estate properties
—
(
1,705
)
—
Acquisitions, net of cash acquired
(118
)
(111
)
(90
)
Proceeds from sales of businesses and investments
13
2
3,026
Return of capital from investees
24
131
75
Purchases of investments
(35
)
(236
)
(117
)
Other
(146
)
(20
)
(9
)
Net cash provided by (used in) investing activities
(1,613
)
(3,212
)
2,009
Financing Activities
Proceeds from (repayments of) short-term borrowings, net
—
— (
550
)
Proceeds from third-party borrowings
—
—
1,995
Repurchases and repayments of debt
(906
)
(92
)
(413
)
Proceeds from (repayments of) borrowings from Comcast, net
97
799
—
Redemption transaction distribution
—
(
3,200
)
—
Distributions to member
(1,641
)
(1,422
)
(964
)
Distributions to noncontrolling interests
(177
)
(183
)
(216
)
Settlement of Station Venture liability
—
(
602
)
—
Other
(3
)
(66
)
(81
)
Net cash provided by (used in) financing activities
(2,630
)
(4,766
)
(229
)
Increase (decrease) in cash and cash equivalents
281
(4,954
)
5,113
Cash and cash equivalents, beginning of year
967
5,921
808
Cash and cash equivalents, end of year
$
1,248
$
967
$
5,921
153
Comcast 2014 Annual Report on Form 10-
K