Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net earnings (loss) $ (1,581) $ 47 $ 14
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities      
Depreciation and amortization 213 222 268
Stock-based compensation 103 91 82
Non-cash contribution to charitable foundation (note 13)     67
(Gains) losses on dispositions, net (note 4) 18   (19)
Impairment of intangible assets 1,798   2
Realized and unrealized (gains) losses on financial instruments, net (24) (53) (2)
Deferred income tax expense (benefit) (329) (52) (85)
Non-cash interest on margin loans 11 13 17
Other noncash charges (credits), net (4) (12) (6)
Changes in operating assets and liabilities      
Current and other assets (70) (24) (31)
Payables and other liabilities 85 69 84
Net cash provided (used) by operating activities 220 301 391
Cash flows from investing activities:      
Capital expenditures, including internal-use software and website development (65) (73) (112)
Acquisitions and other investments, net of cash acquired (note 3)   (43) (29)
Purchases of short term investments and other marketable securities (63) (166) (205)
Sales and maturities of short term investments and other marketable securities 133 116 258
Other investing activities, net (2) 2 27
Net cash provided (used) by investing activities 3 (164) (61)
Cash flows from financing activities:      
Borrowings of debt 435 440 293
Repayments of debt (369) (439) (431)
Shares repurchased by subsidiary (250) (105)  
Payment of withholding taxes on net share settlements of equity awards (17) (15) (72)
Shares issued by subsidiary 3 7 12
Option exercises 1 2 5
Other financing activities, net (2)   10
Net cash provided (used) by financing activities (199) (110) (183)
Effect of foreign currency exchange rates on cash 17 (17) (12)
Net increase (decrease) in cash and cash equivalents 41 10 135
Cash and cash equivalents at beginning of period 654 644 509
Cash and cash equivalents at end of period $ 695 $ 654 $ 644