DIRECTV 2011 Annual Report Download - page 87

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DIRECTV
CONSOLIDATED STATEMENTS OF CASH FLOWS—(continued)
Years Ended December 31,
2011 2010 2009
(Dollars in Millions)
Cash Flows From Financing Activities
Cash proceeds from debt issuance .......................................................................... 3,990 5,978 1,990
Debt issuance costs ................................................................................... (30) (44) (14)
Repayment of long-term debt ............................................................................. (1,000) (2,323) (1,018)
Proceeds from short-term borrowings ........................................................................ — 38 —
Repayment of short-term borrowings ........................................................................ (39) — —
Repayment of collar loan and equity collars .................................................................... — (1,537) (751)
Repayment of other long-term obligations ..................................................................... (184) (127) (116)
Common shares repurchased and retired ...................................................................... (5,496) (5,111) (1,696)
Stock options exercised ................................................................................. — 38 35
Taxes paid in lieu of shares issued for share-based compensation ....................................................... (58) (118) (72)
Excess tax benefit from share-based compensation ................................................................ 25 11 5
Dividends paid to redeemable noncontrolling interest ............................................................. — (15) —
Net cash used in financing activities .................................................................... (2,792) (3,210) (1,637)
Net increase (decrease) in cash and cash equivalents ................................................................ (629) (1,103) 600
Cash and cash equivalents at beginning of the year ................................................................. 1,502 2,605 2,005
Cash and cash equivalents at end of the year .................................................................... $ 873 $1,502 $ 2,605
Supplemental Cash Flow Information
Cash paid for interest .................................................................................. $ 687 $ 460 $ 412
Cash paid for income taxes .............................................................................. 1,042 705 484
The accompanying notes are an integral part of these Consolidated Financial Statements.
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