Dish Network 1997 Annual Report Download - page 83

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ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
13. Parent Company Only and Consolidation of Subsidiary Guarantors − Continued
F–36
Consolidating Statements of Cash Flows − Year Ended December 31, 1995 (in millions)
Dis
hECC - PC Other C&E
EC
C
Cash Flows From Operating Activities:
Net income (loss)................................ ................................ ......................... $( 12) $(11) $ –$12 $( 11)
Adjustments to reconcile net income (loss) to net cash flows from
operating activities:
Equity in (earnings) losses of subsidiaries ................................ ............ –12 –(12) –
Depreciation and amortization ................................ .............................. 3–––3
Deferred income tax benefit ................................ ................................ .. ( 5) –––( 5)
Amortization of debt discount and deferred financing costs ............... 24 –––24
Other, net ................................ ................................ ................................ 1–––1
Changes in current assets and current liabilities, net ........................... ( 33) (20) 20 –( 33)
Net cash flows from operating activities ................................ ................... ( 22) (19) 20 –( 21)
Cash Flows From Investing Activities:
Purchases of marketable investment securities ................................ ......... ( 3) (22) – – (25)
Sales of marketable investment securities ................................ ................. 34 7– – 41
Purchases of restricted marketable investment securities ......................... ( 15) –––( 15)
Purchases of property and equipment ................................ ........................ (114) –(20) –(134)
Offering proceeds and investment earnings placed in escrow ................. ( 10) –––( 10)
Funds released from escrow accounts ................................ ........................ 122 –––122
Investment in convertible subordinated debentures from DBSI .............. –( 1) – – ( 1)
Investment in DBSC ................................ ................................ ................... 5( 5) – – –
Long-term notes receivable from and investment in DBSC ..................... –(16) – – ( 16)
Net cash flows from investing activities ................................ .................... 19 (37) (20) –( 38)
Cash Flows From Financing Activities:
Net proceeds from issuance of Class A Common Stock .......................... –63 – – 63
Net cash flows from financing activities ................................ ................... –63 – – 63
Net increase (decrease) in cash and cash equivalents ............................... ( 3) 7– – 4
Cash and cash equivalents, beginning of year ................................ ........... 18 –––18
Cash and cash equivalents, end of year ................................ ...................... $ 15 $ 7 $ – $ – $ 22