DIRECTV 2011 Annual Report Download - page 133

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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(concluded)
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2009
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
Cash flows from operating activities
Net cash provided by (used in) operating activities ............................ $ (564) $ 2,108 $ 1,605 $ 2,406 $(1,124) $ 4,431
Cash flows from investing activities
Cash paid for property and equipment .................................... (1) — (1,426) (585) — (2,012)
Cash paid for satellites .............................................. — — (59) — — (59)
Cash paid for Liberty transaction, net of cash acquired ......................... (153) — — 56 — (97)
Investment in companies, net of cash acquired ............................... (5) — (11) (21) — (37)
Return of capital from subsidiary ....................................... 1,376 — — — (1,376) —
Other, net ...................................................... — — — 11 — 11
Net cash provided by (used in) investing activities ........................... 1,217 — (1,496) (539) (1,376) (2,194)
Cash flows from financing activities
Cash proceeds from debt issuance ....................................... — 1,990 — — — 1,990
Debt issuance costs ................................................. — (14) — — — (14)
Repayment of long-term debt .......................................... — (1,018) — — — (1,018)
Repayment of collar loan and equity collars ................................ — — — (751) — (751)
Repayment of other long-term obligations .................................. — — (90) (26) — (116)
Common shares repurchased and retired ................................... (1,696) — — — — (1,696)
Stock options exercised .............................................. 35 — — — — 35
Taxes paid in lieu of shares issued for share-based compensation ................... (35) — (24) (13) — (72)
Excess tax benefit from share-based compensation ............................ — — 4 1 — 5
Intercompany payments (funding) ....................................... 1,064 — 2 (1,066) — —
Cash dividend to Parent ............................................. — (2,500) — — 2,500 —
Net cash used in financing activities .................................... (632) (1,542) (108) (1,855) 2,500 (1,637)
Net increase (decrease) in cash and cash equivalents ............................. 21 566 1 12 — 600
Cash and cash equivalents at beginning of the period ............................ 536 1,143 6 320 — 2,005
Cash and cash equivalents at the end of the period ............................. $ 557 $1,709 $ 7 $ 332 $ — $ 2,605
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