Dish Network 2014 Annual Report Download - page 112

DISH NETWORK CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
The accompanying notes are an integral part of these consolidated financial statements.
F-6
2014 2013 2012
Cash Flows From Operating Activities:
Net income (loss)............................................................................................................................... 928,902$ 789,746$ 625,740$
Less: Income (loss) from discontinued operations, net of tax........................................................... - (47,343) (37,179)
Income (loss) from continuing operations.......................................................................................... 928,902$ 837,089$ 662,919$
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization...................................................................................................... 1,077,936 1,054,026 964,484
Impairment of long-lived assets.................................................................................................... - 437,575 -
Realized and unrealized losses (gains) on investments................................................................. 60,515 (387,675) (172,314)
Non-cash, stock-based compensation............................................................................................ 34,153 29,730 39,327
Deferred tax expense (benefit)...................................................................................................... 134,535 126,194 369,224
Other, net...................................................................................................................................... 137,544 65,987 8,241
Changes in current assets and current liabilities:
Trade accounts receivable - other............................................................................................. (17,407) (69,086) (64,364)
Allowance for doubtful accounts.............................................................................................. 8,649 2,147 1,919
Advances (to) from discontinued operations.............................................................................- 48,803 (34,075)
Prepaid income taxes................................................................................................................ 85,586 26,397 (110,608)
Trade accounts receivable - EchoStar....................................................................................... 23,712 (28,142) (2,284)
Inventory................................................................................................................................... (5,090) (12,654) 85,321
Other current assets................................................................................................................... (2,583) (71,324) 27,222
Trade accounts payable............................................................................................................. (106,808) 35,895 90,303
Trade accounts payable - EchoStar........................................................................................... (103,355) 73,157 54,636
Deferred revenue and other....................................................................................................... 47,988 3,497 22,425
Accrued programming and other accrued expenses.................................................................. 103,854 137,581 61,342
Net cash flows from operating activities from continuing operations......................................... 2,408,131 2,309,197 2,003,718
Net cash flows from operating activities from discontinued operations, net.............................. (30,007) (36,732) 8,157
Cash Flows From Investing Activities:
Purchases of marketable investment securities................................................................................... (4,119,489) (6,356,136) (3,971,451)
Sales and maturities of marketable investment securities................................................................... 7,054,104 4,999,639 2,046,648
Purchases of derivative financial instruments.................................................................................... (149,969) (805,996) -
Settlement of derivative financial instruments................................................................................... - 718,847 -
Purchases of property and equipment................................................................................................ (1,215,861) (1,253,499) (945,334)
Change in restricted cash and marketable investment securities........................................................ 7,886 38,782 (2,177)
DBSD North America Transaction, less cash acquired of $5,230..................................................... - - (40,015)
TerreStar Transaction......................................................................................................................... - - (36,942)
Purchases of FCC authorizations - H Block wireless spectrum licenses............................................ (1,343,372) (328,134) -
AWS-3 auction deposits .................................................................................................................... (1,320,000) - -
Other, net........................................................................................................................................... 102,777 (48,360) (54,811)
Net cash flows from investing activities from continuing operations.......................................... (983,924) (3,034,857) (3,004,082)
Net cash flows from investing activities from discontinued operations, net, including
$0, $1,782, and $12,232 of purchases of property and equipment, respectively.................... 20,847 13,773 (15,132)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt......................................................................................... 2,000,000 2,300,000 4,400,000
Proceeds from issuance of restricted debt.......................................................................................... - 2,600,000 -
Redemption of restricted debt............................................................................................................ - (2,600,000) -
Funding of restricted debt escrow...................................................................................................... - (2,596,750) -
Release of restricted debt escrow....................................................................................................... - 2,596,771 -
Repurchases and redemption of long-term debt................................................................................. (1,099,999) (500,000) -
Debt issuance costs............................................................................................................................ (7,677) (11,146) (13,246)
Repayment of long-term debt and capital lease obligations............................................................... (31,653) (37,869) (36,090)
Net proceeds from Class A common stock options exercise
d
and stock issued under the Employee Stock Purchase Plan............................................................ 50,934 76,512 94,852
Cash dividend on Class A and Class B common stock...................................................................... - - (452,890)
Other.................................................................................................................................................. 68,662 24,422 11,307
Net cash flows from financing activities from continuing operations.......................................... 980,267 1,851,940 4,003,933
Net cash flows from financing activities from discontinued operations, net............................... - (435) (1,449)
Effect of exchange rates on cash and cash equivalents from discontinued operations.. - 156 1,887
Net increase (decrease) in cash and cash equivalents from continuing operations.................... 2,404,474 1,126,280 3,003,569
Cash and cash equivalents, beginning of period from continuing operations..................................... 4,700,022 3,573,742 570,173
Cash and cash equivalents, end of period from continuing operations............................................... 7,104,496$ 4,700,022$ 3,573,742$
Net increase (decrease) in cash and cash equivalents from discontinued operations................. (9,160) (23,238) (6,537)
Cash and cash equivalents, beginning of period from discontinued operations................................. 9,160 32,398 38,935
Cash and cash equivalents, end of period from discontinued operations........................................... -$ 9,160$ 32,398$
For the Years Ended December 31,