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Condensed Consolidating Financial Statements (Tables) | 9 Months Ended
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Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheets |
Condensed Consolidating Balance Sheet
September 30, 2017
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 268 |  |  | $ | 402,762 |  |  | $ | 149,259 |  |  | $ | — |  |  | $ | 552,289 |
Accounts receivable, trade (less allowance for doubtful accounts) | — |  |  | 527,232 |  |  | 184,944 |  |  | — |  |  | 712,176 |
Amounts due from related parties, net | — |  |  | 478 |  |  | — |  |  | — |  |  | 478 |
Current portion of program rights, net | — |  |  | 301,362 |  |  | 151,347 |  |  | — |  |  | 452,709 |
Prepaid expenses, other current assets and intercompany receivable | 748 |  |  | 199,921 |  |  | 12,484 |  |  | (113,701 | ) |  | 99,452 |
Total current assets | 1,016 |  |  | 1,431,755 |  |  | 498,034 |  |  | (113,701 | ) |  | 1,817,104 |
Property and equipment, net of accumulated depreciation | — |  |  | 125,657 |  |  | 46,964 |  |  | — |  |  | 172,621 |
Investment in affiliates | 3,426,758 |  |  | 923,595 |  |  | — |  |  | (4,350,353 | ) |  | — |
Program rights, net | — |  |  | 1,054,542 |  |  | 184,964 |  |  | — |  |  | 1,239,506 |
Long-term intercompany notes receivable | — |  |  | 466,027 |  |  | 450 |  |  | (466,477 | ) |  | — |
Deferred carriage fees, net | — |  |  | 32,696 |  |  | 1,491 |  |  | — |  |  | 34,187 |
Intangible assets, net | — |  |  | 172,989 |  |  | 300,710 |  |  | — |  |  | 473,699 |
Goodwill | — |  |  | 67,246 |  |  | 623,608 |  |  | — |  |  | 690,854 |
Deferred tax asset, net | — |  |  | — |  |  | 20,405 |  |  | — |  |  | 20,405 |
Other assets | 1,413 |  |  | 140,417 |  |  | 300,558 |  |  | — |  |  | 442,388 |
Total assets | $ | 3,429,187 |  |  | $ | 4,414,924 |  |  | $ | 1,977,184 |  |  | $ | (4,930,531 | ) |  | $ | 4,890,764 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 34 |  |  | $ | 33,325 |  |  | $ | 45,545 |  |  | $ | — |  |  | $ | 78,904 |
Accrued liabilities and intercompany payable | 57,650 |  |  | 159,579 |  |  | 148,967 |  |  | (113,701 | ) |  | 252,495 |
Current portion of program rights obligations | — |  |  | 246,401 |  |  | 72,072 |  |  | — |  |  | 318,473 |
Deferred revenue | — |  |  | 34,253 |  |  | 17,326 |  |  | — |  |  | 51,579 |
Current portion of capital lease obligations | — |  |  | 2,873 |  |  | 1,844 |  |  | — |  |  | 4,717 |
Total current liabilities | 57,684 |  |  | 476,431 |  |  | 285,754 |  |  | (113,701 | ) |  | 706,168 |
Program rights obligations | — |  |  | 434,191 |  |  | 20,976 |  |  | — |  |  | 455,167 |
Long-term debt, net | 3,097,350 |  |  | — |  |  | — |  |  | — |  |  | 3,097,350 |
Capital lease obligations | — |  |  | 4,509 |  |  | 22,869 |  |  | — |  |  | 27,378 |
Deferred tax liability, net | 177,580 |  |  | — |  |  | (4,217 | ) |  | — |  |  | 173,363 |
Other liabilities and intercompany notes payable | 42,200 |  |  | 73,035 |  |  | 481,621 |  |  | (466,477 | ) |  | 130,379 |
Total liabilities | 3,374,814 |  |  | 988,166 |  |  | 807,003 |  |  | (580,178 | ) |  | 4,589,805 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interests | — |  |  | — |  |  | 217,697 |  |  | — |  |  | 217,697 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
AMC Networks stockholders’ equity | 54,373 |  |  | 3,426,758 |  |  | 923,595 |  |  | (4,350,353 | ) |  | 54,373 |
Non-redeemable noncontrolling interests | — |  |  | — |  |  | 28,889 |  |  | — |  |  | 28,889 |
Total stockholders’ equity | 54,373 |  |  | 3,426,758 |  |  | 952,484 |  |  | (4,350,353 | ) |  | 83,262 |
Total liabilities and stockholders’ equity | $ | 3,429,187 |  |  | $ | 4,414,924 |  |  | $ | 1,977,184 |  |  | $ | (4,930,531 | ) |  | $ | 4,890,764 |
Condensed Consolidating Balance Sheet
December 31, 2016
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 565 |  |  | 320,950 |  |  | 159,874 |  |  | — |  |  | 481,389 |
Accounts receivable, trade (less allowance for doubtful accounts) | — |  |  | 537,751 |  |  | 162,904 |  |  | — |  |  | 700,655 |
Amounts due from related parties, net | — |  |  | 508 |  |  | — |  |  | — |  |  | 508 |
Current portion of program rights, net | — |  |  | 307,050 |  |  | 134,080 |  |  | — |  |  | 441,130 |
Prepaid expenses, other current assets and intercompany receivable | 948 |  |  | 151,175 |  |  | 15,961 |  |  | (95,423 | ) |  | 72,661 |
Total current assets | 1,513 |  |  | 1,317,434 |  |  | 472,819 |  |  | (95,423 | ) |  | 1,696,343 |
Property and equipment, net of accumulated depreciation | — |  |  | 104,272 |  |  | 62,364 |  |  | — |  |  | 166,636 |
Investment in affiliates | 3,029,922 |  |  | 784,024 |  |  | — |  |  | (3,813,946 | ) |  | — |
Program rights, net | — |  |  | 947,657 |  |  | 160,929 |  |  | — |  |  | 1,108,586 |
Long-term intercompany notes receivable | — |  |  | 432,099 |  |  | 817 |  |  | (432,916 | ) |  | — |
Deferred carriage fees, net | — |  |  | 42,656 |  |  | 1,230 |  |  | — |  |  | 43,886 |
Intangible assets, net | — |  |  | 180,297 |  |  | 305,512 |  |  | — |  |  | 485,809 |
Goodwill | — |  |  | 69,154 |  |  | 588,554 |  |  | — |  |  | 657,708 |
Deferred tax asset, net | — |  |  | — |  |  | 8,598 |  |  | — |  |  | 8,598 |
Other assets | 1,471 |  |  | 116,608 |  |  | 194,950 |  |  | — |  |  | 313,029 |
Total assets | 3,032,906 |  |  | 3,994,201 |  |  | 1,795,773 |  |  | (4,342,285 | ) |  | 4,480,595 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | — |  |  | 40,033 |  |  | 48,644 |  |  | — |  |  | 88,677 |
Accrued liabilities and intercompany payable | 71,680 |  |  | 182,667 |  |  | 125,505 |  |  | (95,423 | ) |  | 284,429 |
Current portion of program rights obligations | — |  |  | 226,474 |  |  | 74,371 |  |  | — |  |  | 300,845 |
Deferred revenue | — |  |  | 42,782 |  |  | 10,861 |  |  | — |  |  | 53,643 |
Current portion of long-term debt | 222,000 |  |  | — |  |  | — |  |  | — |  |  | 222,000 |
Current portion of capital lease obligations | — |  |  | 2,645 |  |  | 1,939 |  |  | — |  |  | 4,584 |
Total current liabilities | 293,680 |  |  | 494,601 |  |  | 261,320 |  |  | (95,423 | ) |  | 954,178 |
Program rights obligations | — |  |  | 365,262 |  |  | 32,913 |  |  | — |  |  | 398,175 |
Long-term debt, net | 2,597,263 |  |  | — |  |  | — |  |  | — |  |  | 2,597,263 |
Capital lease obligations | — |  |  | 6,647 |  |  | 28,635 |  |  | — |  |  | 35,282 |
Deferred tax liability, net | 145,364 |  |  | — |  |  | 427 |  |  | — |  |  | 145,791 |
Other liabilities and intercompany notes payable | 26,681 |  |  | 97,769 |  |  | 440,685 |  |  | (432,916 | ) |  | 132,219 |
Total liabilities | 3,062,988 |  |  | 964,279 |  |  | 763,980 |  |  | (528,339 | ) |  | 4,262,908 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interests | — |  |  | — |  |  | 219,331 |  |  | — |  |  | 219,331 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
AMC Networks stockholders’ (deficiency) equity | (30,082 | ) |  | 3,029,922 |  |  | 784,024 |  |  | (3,813,946 | ) |  | (30,082 | )
Non-redeemable noncontrolling interests | — |  |  | — |  |  | 28,438 |  |  | — |  |  | 28,438 |
Total stockholders’ (deficiency) equity | (30,082 | ) |  | 3,029,922 |  |  | 812,462 |  |  | (3,813,946 | ) |  | (1,644 | )
Total liabilities and stockholders’ (deficiency) equity | 3,032,906 |  |  | 3,994,201 |  |  | 1,795,773 |  |  | (4,342,285 | ) |  | 4,480,595 |
Condensed Consolidating Income Statements |
Condensed Consolidating Statement of Income
Three Months Ended September 30, 2017
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues, net | $ | — |  |  | $ | 494,563 |  |  | $ | 157,346 |  |  | $ | (3,886 | ) |  | $ | 648,023 |
Operating expenses: |  |  |  |  |  |  |  |  |
Technical and operating (excluding depreciation and amortization) | — |  |  | 232,432 |  |  | 91,142 |  |  | (831 | ) |  | 322,743 |
Selling, general and administrative | — |  |  | 99,481 |  |  | 42,352 |  |  | (3,145 | ) |  | 138,688 |
Depreciation and amortization | — |  |  | 10,072 |  |  | 10,866 |  |  | — |  |  | 20,938 |
Impairment and related charges | — |  |  | — |  |  | 11,036 |  |  | — |  |  | 11,036 |
Restructuring (credit) expense | — |  |  | (10 | ) |  | 1,274 |  |  | — |  |  | 1,264 |
Total operating expenses | — |  |  | 341,975 |  |  | 156,670 |  |  | (3,976 | ) |  | 494,669 |
Operating income | — |  |  | 152,588 |  |  | 676 |  |  | 90 |  |  | 153,354 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest expense, net | (34,403 | ) |  | 10,543 |  |  | (7,950 | ) |  | — |  |  | (31,810 | )
Share of affiliates’ income | 171,490 |  |  | 10,784 |  |  | — |  |  | (182,274 | ) |  | — |
Loss on extinguishment of debt | (3,004 | ) |  | — |  |  | — |  |  | — |  |  | (3,004 | )
Miscellaneous, net | (1,076 | ) |  | (244 | ) |  | 13,830 |  |  | (90 | ) |  | 12,420 |
Total other income (expense) | 133,007 |  |  | 21,083 |  |  | 5,880 |  |  | (182,364 | ) |  | (22,394 | )
Income from operations before income taxes | 133,007 |  |  | 173,671 |  |  | 6,556 |  |  | (182,274 | ) |  | 130,960 |
Income tax (expense) benefit | (46,005 | ) |  | (2,181 | ) |  | 8,062 |  |  | — |  |  | (40,124 | )
Net income including noncontrolling interests | 87,002 |  |  | 171,490 |  |  | 14,618 |  |  | (182,274 | ) |  | 90,836 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (3,834 | ) |  | — |  |  | (3,834 | )
Net income attributable to AMC Networks’ stockholders | $ | 87,002 |  |  | $ | 171,490 |  |  | $ | 10,784 |  |  | $ | (182,274 | ) |  | $ | 87,002 |
Condensed Consolidating Statement of Income
Three Months Ended September 30, 2016
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues, net | $ | — |  |  | $ | 484,704 |  |  | $ | 152,007 |  |  | $ | (2,065 | ) |  | $ | 634,646 |
Operating expenses: |  |  |  |  |  |  |  |  |
Technical and operating (excluding depreciation and amortization) | — |  |  | 251,595 |  |  | 87,891 |  |  | (687 | ) |  | 338,799 |
Selling, general and administrative | — |  |  | 97,633 |  |  | 41,077 |  |  | (1,594 | ) |  | 137,116 |
Depreciation and amortization | — |  |  | 9,965 |  |  | 12,317 |  |  | — |  |  | 22,282 |
Restructuring expense | — |  |  | 18,764 |  |  | 548 |  |  | — |  |  | 19,312 |
Total operating expenses | — |  |  | 377,957 |  |  | 141,833 |  |  | (2,281 | ) |  | 517,509 |
Operating income | — |  |  | 106,747 |  |  | 10,174 |  |  | 216 |  |  | 117,137 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest expense, net | (29,250 | ) |  | 9,649 |  |  | (9,603 | ) |  | — |  |  | (29,204 | )
Share of affiliates’ income (loss) | 110,101 |  |  | (4,402 | ) |  | — |  |  | (105,699 | ) |  | — |
Loss on extinguishment of debt | (2,295 | ) |  | — |  |  | — |  |  | — |  |  | (2,295 | )
Miscellaneous, net | (123 | ) |  | 385 |  |  | 2,942 |  |  | (216 | ) |  | 2,988 |
Total other income (expense) | 78,433 |  |  | 5,632 |  |  | (6,661 | ) |  | (105,915 | ) |  | (28,511 | )
Income from operations before income taxes | 78,433 |  |  | 112,379 |  |  | 3,513 |  |  | (105,699 | ) |  | 88,626 |
Income tax expense | (13,040 | ) |  | (2,278 | ) |  | (5,839 | ) |  | — |  |  | (21,157 | )
Net income (loss) including noncontrolling interests | 65,393 |  |  | 110,101 |  |  | (2,326 | ) |  | (105,699 | ) |  | 67,469 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (2,076 | ) |  | — |  |  | (2,076 | )
Net income (loss) attributable to AMC Networks’ stockholders | $ | 65,393 |  |  | $ | 110,101 |  |  | $ | (4,402 | ) |  | $ | (105,699 | ) |  | $ | 65,393 |
Condensed Consolidating Statement of Income
Nine Months Ended September 30, 2017
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues, net | $ | — |  |  | $ | 1,610,247 |  |  | $ | 480,153 |  |  | $ | (11,643 | ) |  | $ | 2,078,757 |
Operating expenses: |  |  |  |  |  |  |  |  |
Technical and operating (excluding depreciation and amortization) | — |  |  | 694,336 |  |  | 264,231 |  |  | (2,367 | ) |  | 956,200 |
Selling, general and administrative | — |  |  | 335,585 |  |  | 138,669 |  |  | (9,584 | ) |  | 464,670 |
Depreciation and amortization | — |  |  | 30,399 |  |  | 34,638 |  |  | — |  |  | 65,037 |
Impairment and related charges | — |  |  | — |  |  | 28,148 |  |  | — |  |  | 28,148 |
Restructuring expense | — |  |  | 2,649 |  |  | 1,238 |  |  | — |  |  | 3,887 |
Total operating expenses | — |  |  | 1,062,969 |  |  | 466,924 |  |  | (11,951 | ) |  | 1,517,942 |
Operating income | — |  |  | 547,278 |  |  | 13,229 |  |  | 308 |  |  | 560,815 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest expense, net | (93,548 | ) |  | 30,531 |  |  | (22,751 | ) |  | — |  |  | (85,768 | )
Share of affiliates’ income | 592,012 |  |  | 19,610 |  |  | — |  |  | (611,622 | ) |  | — |
Loss on extinguishment of debt | (3,004 | ) |  | — |  |  | — |  |  | — |  |  | (3,004 | )
Miscellaneous, net | (1,419 | ) |  | 2,085 |  |  | 42,090 |  |  | (308 | ) |  | 42,448 |
Total other income (expense) | 494,041 |  |  | 52,226 |  |  | 19,339 |  |  | (611,930 | ) |  | (46,324 | )
Income from operations before income taxes | 494,041 |  |  | 599,504 |  |  | 32,568 |  |  | (611,622 | ) |  | 514,491 |
Income tax (expense) benefit | (168,225 | ) |  | (7,492 | ) |  | 2,318 |  |  | — |  |  | (173,399 | )
Net income including noncontrolling interests | 325,816 |  |  | 592,012 |  |  | 34,886 |  |  | (611,622 | ) |  | 341,092 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (15,276 | ) |  | — |  |  | (15,276 | )
Net income attributable to AMC Networks’ stockholders | $ | 325,816 |  |  | $ | 592,012 |  |  | $ | 19,610 |  |  | $ | (611,622 | ) |  | $ | 325,816 |
Condensed Consolidating Statement of Income
Nine Months Ended September 30, 2016
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues, net | $ | — |  |  | $ | 1,559,188 |  |  | $ | 473,809 |  |  | $ | (6,940 | ) |  | $ | 2,026,057 |
Operating expenses: |  |  |  |  |  |  |  |  |
Technical and operating (excluding depreciation and amortization) | — |  |  | 665,627 |  |  | 251,773 |  |  | (2,064 | ) |  | 915,336 |
Selling, general and administrative | — |  |  | 343,526 |  |  | 135,083 |  |  | (4,849 | ) |  | 473,760 |
Depreciation and amortization | — |  |  | 29,992 |  |  | 33,475 |  |  | — |  |  | 63,467 |
Restructuring expense | — |  |  | 18,806 |  |  | 860 |  |  | — |  |  | 19,666 |
Total operating expenses | — |  |  | 1,057,951 |  |  | 421,191 |  |  | (6,913 | ) |  | 1,472,229 |
Operating income | — |  |  | 501,237 |  |  | 52,618 |  |  | (27 | ) |  | 553,828 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest expense, net | (89,992 | ) |  | 28,481 |  |  | (29,055 | ) |  | — |  |  | (90,566 | )
Share of affiliates’ income (loss) | 498,281 |  |  | (24,548 | ) |  | — |  |  | (473,733 | ) |  | — |
Loss on extinguishment of debt | (50,638 | ) |  | — |  |  | — |  |  | — |  |  | (50,638 | )
Miscellaneous, net | (373 | ) |  | 173 |  |  | (22,437 | ) |  | 27 |  |  | (22,610 | )
Total other income (expense) | 357,278 |  |  | 4,106 |  |  | (51,492 | ) |  | (473,706 | ) |  | (163,814 | )
Income from operations before income taxes | 357,278 |  |  | 505,343 |  |  | 1,126 |  |  | (473,733 | ) |  | 390,014 |
Income tax expense | (101,262 | ) |  | (7,062 | ) |  | (10,766 | ) |  | — |  |  | (119,090 | )
Net income (loss) including noncontrolling interests | 256,016 |  |  | 498,281 |  |  | (9,640 | ) |  | (473,733 | ) |  | 270,924 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (14,908 | ) |  | — |  |  | (14,908 | )
Net income (loss) attributable to AMC Networks’ stockholders | $ | 256,016 |  |  | $ | 498,281 |  |  | $ | (24,548 | ) |  | $ | (473,733 | ) |  | $ | 256,016 |
Condensed Consolidating Comprehensive Income (Loss) |
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2017
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income including noncontrolling interest | $ | 325,816 |  |  | $ | 592,012 |  |  | $ | 34,886 |  |  | $ | (611,622 | ) |  | $ | 341,092 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | 63,475 |  |  | — |  |  | 63,475 |  |  | (63,475 | ) |  | 63,475 |
Unrealized loss on interest rate swaps | (35 | ) |  | — |  |  | — |  |  | — |  |  | (35 | )
Unrealized gain on available for sale securities | 9,534 |  |  | — |  |  | — |  |  | — |  |  | 9,534 |
Other comprehensive income, before income taxes | 72,974 |  |  | — |  |  | 63,475 |  |  | (63,475 | ) |  | 72,974 |
Income tax expense | (3,495 | ) |  | — |  |  | — |  |  | — |  |  | (3,495 | )
Other comprehensive income, net of income taxes | 69,479 |  |  | — |  |  | 63,475 |  |  | (63,475 | ) |  | 69,479 |
Comprehensive income | 395,295 |  |  | 592,012 |  |  | 98,361 |  |  | (675,097 | ) |  | 410,571 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | (17,997 | ) |  | — |  |  | (17,997 | )
Comprehensive income attributable to AMC Networks’ stockholders | $ | 395,295 |  |  | $ | 592,012 |  |  | $ | 80,364 |  |  | $ | (675,097 | ) |  | $ | 392,574 |
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2016
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) including noncontrolling interest | $ | 256,016 |  |  | $ | 498,281 |  |  | $ | (9,640 | ) |  | $ | (473,733 | ) |  | $ | 270,924 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | (3,767 | ) |  | — |  |  | (3,767 | ) |  | 3,767 |  |  | (3,767 | )
Unrealized loss on interest rate swaps | (1,447 | ) |  | — |  |  | — |  |  | — |  |  | (1,447 | )
Other comprehensive (loss), before income taxes | (5,214 | ) |  | — |  |  | (3,767 | ) |  | 3,767 |  |  | (5,214 | )
Income tax expense | (11,574 | ) |  | — |  |  | — |  |  | — |  |  | (11,574 | )
Other comprehensive (loss), net of income taxes | (16,788 | ) |  | — |  |  | (3,767 | ) |  | 3,767 |  |  | (16,788 | )
Comprehensive income (loss) | 239,228 |  |  | 498,281 |  |  | (13,407 | ) |  | (469,966 | ) |  | 254,136 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | (13,564 | ) |  | — |  |  | (13,564 | )
Comprehensive income (loss) attributable to AMC Networks’ stockholders | $ | 239,228 |  |  | $ | 498,281 |  |  | $ | (26,971 | ) |  | $ | (469,966 | ) |  | $ | 240,572 |
Condensed Consolidating Cash Flows Statements |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2017
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 374,873 |  |  | $ | 498,874 |  |  | $ | 11,714 |  |  | $ | (611,888 | ) |  | $ | 273,573 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (47,811 | ) |  | (13,983 | ) |  | — |  |  | (61,794 | )
Investment in and loans to investees | — |  |  | — |  |  | (43,000 | ) |  | — |  |  | (43,000 | )
Increase to investment in affiliates | (289,891 | ) |  | (394,117 | ) |  | 254,014 |  |  | 429,994 |  |  | — |
Net cash (used in) provided by investing activities | (289,891 | ) |  | (441,928 | ) |  | 197,031 |  |  | 429,994 |  |  | (104,794 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from the issuance of long-term debt | 1,536,000 |  |  | — |  |  | — |  |  | — |  |  | 1,536,000 |
Principal payments on long-term debt | (1,257,965 | ) |  | — |  |  | — |  |  | — |  |  | (1,257,965 | )
Payments for financing costs | (10,405 | ) |  | — |  |  | — |  |  | — |  |  | (10,405 | )
Deemed repurchases of restricted stock units | (13,373 | ) |  | — |  |  | — |  |  | — |  |  | (13,373 | )
Purchase of treasury stock | (347,334 | ) |  | — |  |  | — |  |  | — |  |  | (347,334 | )
Principal payments on capital lease obligations | — |  |  | (2,019 | ) |  | (1,409 | ) |  | — |  |  | (3,428 | )
Distributions to noncontrolling interests | — |  |  | — |  |  | (16,110 | ) |  | — |  |  | (16,110 | )
Net cash used in financing activities | (93,077 | ) |  | (2,019 | ) |  | (17,519 | ) |  | — |  |  | (112,615 | )
Net increase (decrease) in cash and cash equivalents from operations | (8,095 | ) |  | 54,927 |  |  | 191,226 |  |  | (181,894 | ) |  | 56,164 |
Effect of exchange rate changes on cash and cash equivalents | 7,798 |  |  | 26,885 |  |  | (201,841 | ) |  | 181,894 |  |  | 14,736 |
Cash and cash equivalents at beginning of period | 565 |  |  | 320,950 |  |  | 159,874 |  |  | — |  |  | 481,389 |
Cash and cash equivalents at end of period | $ | 268 |  |  | $ | 402,762 |  |  | $ | 149,259 |  |  | $ | — |  |  | $ | 552,289 |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2016
(In thousands) | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 347,413 |  |  | $ | 504,454 |  |  | $ | 51,115 |  |  | $ | (476,390 | ) |  | $ | 426,592 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (29,538 | ) |  | (14,967 | ) |  | — |  |  | (44,505 | )
Payments for acquisitions, net of cash acquired | — |  |  | — |  |  | (354 | ) |  | — |  |  | (354 | )
(Increase) decrease to investment in affiliates | (359,772 | ) |  | 36,431 |  |  | — |  |  | 323,341 |  |  | — |
Net cash (used in) provided by investing activities | (359,772 | ) |  | 6,893 |  |  | (15,321 | ) |  | 323,341 |  |  | (44,859 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from the issuance of long-term debt | 982,500 |  |  | — |  |  | — |  |  | — |  |  | 982,500 |
Principal payments on long-term debt | (811,000 | ) |  | — |  |  | — |  |  | — |  |  | (811,000 | )
Premium and fees paid on extinguishment of debt | (40,953 | ) |  | — |  |  | — |  |  | — |  |  | (40,953 | )
Payments for financing costs | (2,070 | ) |  | — |  |  | — |  |  | — |  |  | (2,070 | )
Deemed repurchases of restricted stock/units | (10,821 | ) |  | — |  |  | — |  |  | — |  |  | (10,821 | )
Purchase of treasury stock | (109,997 | ) |  | — |  |  | — |  |  | — |  |  | (109,997 | )
Proceeds from stock option exercises | 1,217 |  |  | — |  |  | — |  |  | — |  |  | 1,217 |
Excess tax benefits from share-based compensation arrangements | 764 |  |  | — |  |  | — |  |  | — |  |  | 764 |
Principal payments on capital lease obligations | — |  |  | (1,834 | ) |  | (1,348 | ) |  | — |  |  | (3,182 | )
Distributions to noncontrolling interest | — |  |  | — |  |  | (9,010 | ) |  | — |  |  | (9,010 | )
Net cash provided by (used in) financing activities | 9,640 |  |  | (1,834 | ) |  | (10,358 | ) |  | — |  |  | (2,552 | )
Net (decrease) increase in cash and cash equivalents from operations | (2,719 | ) |  | 509,513 |  |  | 25,436 |  |  | (153,049 | ) |  | 379,181 |
Effect of exchange rate changes on cash and cash equivalents | 3,145 |  |  | (153,049 | ) |  | (15,883 | ) |  | 153,049 |  |  | (12,738 | )
Cash and cash equivalents at beginning of period | 434 |  |  | 148,260 |  |  | 167,627 |  |  | — |  |  | 316,321 |
Cash and cash equivalents at end of period | $ | 860 |  |  | $ | 504,724 |  |  | $ | 177,180 |  |  | $ | — |  |  | $ | 682,764 |

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