Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net earnings (loss) $ 14 $ 9 $ 27
Adjustments to reconcile net earnings to net cash provided by operating activities      
Depreciation and amortization 268 298 315
Stock-based compensation 82 74 60
Excess tax benefit from stock-based compensation (31) (20) (8)
Non-cash contribution to charitable foundation (note 12) 67    
Gains (losses) on transactions, net (note 4) (19)   1
Impairment of intangible assets 2 2 3
Deferred income tax expense (benefit) (85) (70) (117)
Non-cash interest on margin loans 17 4  
Other noncash charges (credits), net (8) 10 1
Changes in operating assets and liabilities      
Current and other assets (31) (16) 3
Payables and other liabilities 84 74 51
Net cash provided (used) by operating activities 360 365 336
Cash flows from investing activities:      
Capital expended for property and equipment (112) (90) (60)
Cash (paid) for acquisitions, net of cash acquired (note 3) (29) (331) (35)
Purchases of short term investments and other marketable securities (205) (251) (432)
Proceeds from short term and other marketable securities 258 429 325
Other investing activities, net 25 1 (3)
Net cash provided (used) by investing activities (63) (242) (205)
Cash flows from financing activities:      
Borrowings of debt, net of financing costs 291 429 43
Repayments of debt (431) (43) (66)
Distribution to Parent Company   (348)  
Shares repurchased by subsidiary     (145)
Payment of minimum withholding taxes on net share settlements of equity awards (72) (33) (14)
Excess tax benefit from stock-based compensation 31 20 8
Shares issued by subsidiary 12 3 27
Option exercises 5 12  
Other financing activities, net 12    
Net cash provided (used) by financing activities (152) 40 (147)
Effect of foreign currency exchange rates on cash (10) (8) 1
Net increase (decrease) in cash and cash equivalents 135 155 (15)
Cash and cash equivalents at beginning of period 509 354 369
Cash and cash equivalents at end of period $ 644 $ 509 $ 354