Dish Network 2013 Annual Report Download - page 116

DISH NETWORK CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
The accompanying notes are an integral part of these consolidated financial statements.
F-6
2013 2012 2011
Cash Flows From Operating Activities:
Net income (loss)............................................................................................................................... 789,746$ 625,740$ 1,515,578$
Less: Income (loss) from discontinued operations, net of tax........................................................... (47,343) (37,179) (6,796)
Income (loss) from continuing operations.......................................................................................... 837,089$ 662,919$ 1,522,374$
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization...................................................................................................... 1,054,026 964,484 912,203
Impairment of long-lived assets.................................................................................................... 437,575 - -
Realized and unrealized losses (gains) on investments................................................................. (387,675) (172,314) (8,019)
Non-cash, stock-based compensation............................................................................................ 29,730 39,327 31,213
Deferred tax expense (benefit) (Note 12)...................................................................................... 126,194 369,224 607,813
Other, net...................................................................................................................................... 65,987 8,241 45,003
Changes in current assets and current liabilities:
Trade accounts receivable - other............................................................................................. (69,086) (64,364) 19,175
Allowance for doubtful accounts.............................................................................................. 2,147 1,919 (17,735)
Advances (to) from discontinued operations............................................................................. 48,803 (34,075) 94,013
Prepaid income taxes................................................................................................................ 26,397 (110,608) 72,638
Trade accounts receivable - EchoStar....................................................................................... (28,142) (2,284) (2,031)
Inventory................................................................................................................................... (12,654) 85,321 (61,809)
Other current assets................................................................................................................... (71,324) 27,222 1,241
Trade accounts payable............................................................................................................. 35,895 90,303 (31,204)
Trade accounts payable - EchoStar........................................................................................... 73,157 54,636 (16,136)
Deferred revenue and other....................................................................................................... 3,497 22,425 5,989
Litigation expense accrual (Note 16 and Note 20).................................................................... - 5,419 (316,949)
Litigation settlement payments (Note 20)................................................................................. (70,999) - (350,000)
Accrued programming and other accrued expenses.................................................................. 208,580 55,923 111,381
Net cash flows from operating activities from continuing operations......................................... 2,309,197 2,003,718 2,619,160
Net cash flows from operating activities from discontinued operations, net.............................. (36,732) 8,157 (45,282)
Cash Flows From Investing Activities:
Purchases of marketable investment securities................................................................................... (6,356,136) (3,971,451) (5,407,328)
Sales and maturities of marketable investment securities................................................................... 4,999,639 2,046,648 6,210,191
Purchases of derivative financial instruments (Note 2)...................................................................... (805,996) - -
Settlement of derivative financial instruments (Note 2)..................................................................... 718,847 - -
Purchases of property and equipment................................................................................................ (1,253,499) (945,334) (760,158)
Change in restricted cash and marketable investment securities........................................................ 38,782 (2,177) 12,831
DBSD North America Transaction, less cash acquired of $5,230 (Note 9)....................................... - (40,015) (1,139,201)
TerreStar Transaction (Note 9).......................................................................................................... - (36,942) (1,345,000)
Purchase of Blockbuster assets, excludes cash acquired of $107,061................................................ - - (233,584)
Sprint Settlement Agreement (Note 9)............................................................................................... - - (114,150)
Other, net........................................................................................................................................... (376,494) (54,811) (6,773)
Net cash flows from investing activities from continuing operations.......................................... (3,034,857) (3,004,082) (2,783,172)
Net cash flows from investing activities from discontinued operations, net, including
$1,782, $12,232, and $18,747 of purchases of property and equipment, respectively........... 13,773 (15,132) 87,844
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt......................................................................................... 2,300,000 4,400,000 2,000,000
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 6 3/8% Senior Notes due 2011........................................................ - - (1,000,000)
Repurchases and redemption of 7% Senior Notes due 2013.............................................................. (500,000) - -
Debt issuance costs............................................................................................................................ (11,146) (13,246) (27,261)
Repayment of long-term debt and capital lease obligations............................................................... (37,869) (36,090) (32,236)
Net proceeds from Class A common stock options exercised
and stock issued under the Employee Stock Purchase Plan............................................................ 76,512 94,852 39,995
Cash dividend on Class A and Class B common stock...................................................................... - (452,890) (893,278)
Other.................................................................................................................................................. 24,422 11,307 6,293
Net cash flows from financing activities from continuing operations.......................................... 1,851,940 4,003,933 93,513
Net cash flows from financing activities from discontinued operations, net............................... (435) (1,449) 484
Effect of exchange rates on cash and cash equivalents from discontinued operations.. 156 1,887 (4,111)
Net increase (decrease) in cash and cash equivalents from continuing operations.................... 1,126,280 3,003,569 (70,499)
Cash and cash equivalents, beginning of period from continuing operations..................................... 3,573,742 570,173 640,672
Cash and cash equivalents, end of period from continuing operations............................................... 4,700,022$ 3,573,742$ 570,173$
Net increase (decrease) in cash and cash equivalents from discontinued operations................. (23,238) (6,537) 38,935
Cash and cash equivalents, beginning of period from discontinued operations................................. 32,398 38,935 -
Cash and cash equivalents, end of period from discontinued operations........................................... 9,160$ 32,398$ 38,935$
For the Years Ended December 31,