DIRECTV 2012 Annual Report Download - page 132

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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2012
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
Cash flows from operating activities
Net cash provided by operating activities .................................. $1,728 $ 2,388 $ 1,766 $ 1,877 $(2,125) $ 5,634
Cash flows from investing activities
Cash paid for property and equipment .................................... — — (1,488) (1,472) — (2,960)
Cash paid for satellites .............................................. — — (253) (136) — (389)
Investment in companies, net of cash acquired ............................... — — (7) (9) — (16)
Proceeds from sale of investments ....................................... — — 24 — — 24
Return of capital from subsidiary ....................................... 3,775 — — — (3,775) —
Other, net ...................................................... — — — (22) — (22)
Net cash provided by (used in) investing activities ........................... 3,775 — (1,724) (1,639) (3,775) (3,363)
Cash flows from financing activities
Issuance of commercial paper (maturity 90 days or less), net ..................... — 156 — — — 156
Proceeds from short-term borrowings ..................................... — 202 — — — 202
Proceeds from borrowings under revolving credit facility ........................ — 400 — — — 400
Repayment of borrowings under revolving credit facility ........................ — (400) — — — (400)
Proceeds from issuance of long-term debt .................................. — 5,190 — — — 5,190
Debt issuance costs ................................................. — (36) — — — (36)
Repayment of long-term debt .......................................... — (1,500) — — — (1,500)
Repayment of other long-term obligations .................................. — — (21) (30) — (51)
Common shares repurchased and retired ................................... (5,175) — — — — (5,175)
Stock options exercised .............................................. 3 — — — — 3
Taxes paid in lieu of shares issued for share-based compensation ................... — — (52) (9) — (61)
Excess tax benefit from share-based compensation ............................ — — 25 5 — 30
Intercompany payments (funding) ....................................... (52) — 13 39 — —
Cash dividend to Parent ............................................. — (5,900) — — 5,900 —
Net cash provided by (used in) financing activities .......................... (5,224) (1,888) (35) 5 5,900 (1,242)
Net increase in cash and cash equivalents .................................... 279 500 7 243 — 1,029
Cash and cash equivalents at beginning of the period ............................ 129 228 4 512 — 873
Cash and cash equivalents at the end of the period ............................. $ 408 $ 728 $ 11 $ 755 $ — $1,902
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