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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net income (loss) $ 348,823 $ 1,418,438
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 806,504 519,300
Realized and unrealized losses (gains) on investments, derivatives and other 118,109 (117,382)
Non-cash, stock-based compensation 29,488 56,965
Deferred tax expense (benefit) 95,526 351,640
Changes in allowance for credit losses 7,275 (1,903)
Change in long-term deferred revenue and other long-term liabilities 18,786 47,666
Other, net 129,637 182,127
Changes in current assets and current liabilities, net 163,948 (315,348)
Net cash flows from operating activities 1,718,096 2,141,503 Close
Cash Flows From Investing Activities:    
Purchases of marketable investment securities (1,368,964) (125,532)
Sales and maturities of marketable investment securities 1,942,010 2,984,627
Purchases of property and equipment (2,326,883) (1,831,146)
Capitalized interest related to FCC authorizations (Note 2) (747,743) (756,289)
Purchases of FCC authorizations, including deposits (1,802) (7,206,865)
Other, net 5,115 5,219
Net cash flows from investing activities (2,498,267) (6,929,986) Close
Cash Flows From Financing Activities:    
Repayment of long-term debt and finance lease obligations (95,789) (64,564)
Redemption and repurchases of senior notes (1,451,250) (2,000,000)
Proceeds from issuance of senior notes 1,500,000  
Repurchases of convertible notes (182,834)  
Early debt extinguishment gains (losses) 72,566 (1,138)
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 8,617 13,774
Debt issuance costs and debt (discount) premium 21,635  
Other, net (4,670) (8,667)
Net cash flows from financing activities (131,725) (2,060,595) Close
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (911,896) (6,849,078) Close
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 5) 1,847,981 7,734,260
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 5) $ 936,085 $ 885,182