American Home Shield 2015 Annual Report Download - page 79

Table of Contents
61
Consolidated Statements of Cash Flows
(In millions)
Year Ended December 31,
2015 2014 2013
Cash and Cash E
q
uivalents at Be
g
innin
g
of Period $ 389 $484 $418
Cash Flows from Operating Activities from Continuing Operations:
Net Income
(
Loss
)
160
(
57
)
(
507
)
Ad
j
ustments to reconcile net loss to net cash
p
rovided from o
p
eratin
g
activities:
Loss from discontinued o
p
erations, net of income taxes 2 100 549
E
q
uit
y
in losses of
j
oint venture
—
—
1
De
p
reciation ex
p
ense 47 48 48
Amortization ex
p
ense 38 52 51
Amortization of debt issuance costs 5 810
401
(
k
)
Plan corrective contribution 23
—
—
Im
p
airment of software and other related costs
—
47
—
Gain on sale of Merr
y
Maids branches
(
7
)
(
1
)
—
Loss on extin
g
uishment of deb
t
58 65
—
Call
p
remium
p
aid on retirement of deb
t
(
49
)
(
35
)
—
Deferred income tax
p
rovision 60 29 33
Stoc
k
-
b
ased com
p
ensation ex
p
ense 10 8 4
Excess tax benefits from stoc
k
-
b
ased com
p
ensation
(
13
)
—
—
Gain on sale of marketable securities
(
6
)
(
4
)
(
2
)
Othe
r
16 7 3
Chan
g
e in workin
g
ca
p
ital, net of ac
q
uisitions:
Receivables
(
44
)
(
34
)
(
21
)
Inventories and other current assets 5
(
1
)
(
1
)
Accounts
p
a
y
able 18
(
1
)
16
Deferred revenue 38 39 25
Accrued liabilities 1 1
(
1
)
Accrued interest
p
a
y
able
(
24
)
(
17
)
2
Accrued restructurin
g
char
g
es
(
2
)
3
(
3
)
Current income taxes 2
(
3
)
—
Net Cash Provided from Operating Activities from Continuing Operations 336 253 208
Cash Flows from Investing Activities from Continuing Operations:
Pro
p
ert
y
additions
(
40
)
(
35
)
(
39
)
Sale of e
q
ui
p
ment and other assets 14 2 1
Other business ac
q
uisitions, net of cash ac
q
uired
(
92
)
(
58
)
(
32
)
Purchases of available-fo
r
-sale securities
(
6
)
(
11
)
(
38
)
Sales and maturities of available-fo
r
-sale securities 32 51 38
Ori
g
ination of notes receivable
(
98
)
(
85
)
(
73
)
Collections on notes receivable 92 79 73
Net Cash Used for Investing Activities from Continuing Operations (98) (56) (70)
Cash Flows from Financing Activities from Continuing Operations:
Borrowin
g
s of debt 583 1,825 1
Pa
y
ments of debt
(
923
)
(
2,698
)
(
53
)
Discount
p
aid on issuance of debt
(
2
)
(
18
)
(
12
)
Debt issuance costs
p
aid
(
5
)
(
24
)
(
6
)
Contribution to TruGreen Holdin
g
Cor
p
oration
—
(
35
)
—
Re
p
urchase of common stock and RSU vestin
g
—
(
6
)
(
16
)
Issuance of common stock 16 679 8
Excess tax benefits from stoc
k
-
b
ased com
p
ensation 13
—
—
Net Cash Used for Financing Activities from Continuing Operations (319) (277) (78)
Cash Flows from Discontinued Operations:
Cash
(
used for
) p
rovided from o
p
eratin
g
activities
(
11
)
(
11
)
39
Cash used for investin
g
activities
—
(
2
)
(
21
)
Cash used for financin
g
activities
—
(
3
)
(
12
)
Net Cash
(
Used for
)
Provided from Discontinued O
p
erations
(
11
)
(
15
)
6
Effect of Exchan
g
e Rate Chan
g
es on Cash
(
2
)
—
—
Cash
(
Decrease
)
Increase Durin
g
the Period
(
92
)
(
95
)
66
Cash and Cash E
q
uivalents at End of Period $ 296 $ 389 $ 484
See accompanying Notes to the Consolidated Financial Statements.
2015 Annual Report 77