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28
Research฀In฀Motion฀Limited฀฀|฀฀Incorporated฀Under฀the฀Laws฀of฀Ontario฀(United฀States฀dollars,฀in฀thousands฀except฀per฀share฀data฀or฀as฀otherwise฀indicated)
29
For฀the฀years฀ended฀March฀1,฀2003,฀March฀2,฀2002฀and฀February฀28,฀2001
Consolidated฀Statements฀
of฀Cash฀Flows For฀the฀year฀ended฀ March฀1,฀2003฀ March฀2,฀2002฀ February฀28,฀2001
Cash฀ows฀from฀operating฀activities
Net฀loss฀ ฀ ฀$฀(148,664)฀ $฀ (28,479)฀ $฀ (6,211)
Items฀not฀requiring฀an฀outlay฀of฀cash:฀ ฀ ฀ ฀ ฀ ฀
฀ Amortization฀ ฀ ฀31,600฀ ฀ ฀17,740฀฀ ฀ ฀9,123฀
฀ Future฀income฀taxes฀฀ ฀฀ 28,598฀ ฀ ฀(16,921)฀ ฀ ฀5,011฀
฀ Loss฀on฀write-down฀of฀capital฀assets฀ ฀ ฀502฀ ฀ –฀ ฀ –
฀ Gain฀on฀foreign฀currency฀translation฀of฀long฀term฀debt฀ ฀ ฀(359)฀ ฀ –฀ ฀ –฀
฀ Write-down฀of฀investments฀ ฀ –฀ ฀ ฀5,350฀฀ ฀ ฀14,750฀
฀ Foreign฀exchange฀gain฀(loss)฀ ฀ ฀20฀ ฀ ฀4฀฀ ฀ ฀(8)
฀ ฀ ฀ ฀ (88,303)฀ ฀ ฀(22,306)฀ ฀ ฀22,665฀
Net฀changes฀in฀non-cash฀working฀capital฀items฀ ฀ ฀ ฀ ฀ ฀
฀ Trade฀receivables฀ ฀ ฀฀ 1,958฀ ฀ ฀7,607฀฀ ฀ ฀(23,029)
฀ Other฀receivables฀ ฀ ฀ 1,473฀ ฀ ฀7,918฀฀ ฀ ฀(7,859)
฀ Inventory฀฀ ฀ ฀ 6,202฀ ฀ ฀30,567฀฀ ฀ ฀(31,192)
฀ Prepaid฀expenses฀and฀other฀ ฀ (525)฀ ฀ ฀(3,467)฀ ฀ ฀(17,730)
฀ Accounts฀payable฀and฀accrued฀liabilities฀ ฀ ฀24,614฀ ฀ ฀(499)฀ ฀ ฀34,859฀
฀ Accrued฀litigation฀and฀related฀expenses฀฀ ฀ ฀50,702฀ ฀ –฀ ฀ –
฀ Income฀taxes฀payable฀ ฀ ฀2,106฀ ฀ ฀(1,018)฀ ฀ ฀2,027฀
฀ Deferred฀revenue฀ ฀ ฀ 4,563฀ ฀ ฀(1,097)฀ ฀ ฀4,593฀
฀ ฀ ฀ ฀ 91,093฀ ฀ ฀40,011฀ ฀ ฀(38,331)
฀ ฀ ฀ ฀ 2,790฀฀ ฀ ฀17,705฀฀ ฀ ฀(15,666)
Cash฀ows฀from฀nancing฀activities฀ ฀ ฀ ฀ ฀ ฀
Issuance฀of฀share฀capital฀and฀warrants฀ ฀ ฀1,155฀ ฀ ฀1,491฀฀ ฀ ฀615,551฀
Financing฀costs,฀net฀of฀income฀tax฀benets฀ ฀ –฀ ฀ –฀ ฀ ฀(30,462)
Buyback฀of฀common฀shares฀pursuant฀to฀
฀ Normal฀Course฀Issuer฀Bid฀(note฀10(a))฀ ฀ ฀(24,502)฀ ฀ ฀(5,525)฀ ฀ –
Repayment฀of฀debt฀ ฀ ฀ (614)฀ ฀ ฀(303)฀ ฀ ฀(185)
฀ ฀ ฀ ฀ (23,961)฀ ฀ ฀(4,337)฀ ฀ ฀584,904฀
Cash฀ows฀from฀investing฀activities
Acquisition฀of฀long-term฀portfolio฀investments฀(note฀4)฀ (190,030)฀ ฀ –฀ ฀ –
Acquisition฀of฀capital฀assets฀ ฀ ฀(39,670)฀ ฀ ฀(73,917)฀ ฀ ฀(59,058)
Acquisition฀of฀intangible฀assets฀ ฀ ฀(30,997)฀ ฀ ฀(7,106)฀ ฀ ฀(6,503)
Acquisition฀of฀subsidiaries฀(note฀7)฀ ฀ ฀(21,990)฀ ฀ ฀(9,709)฀ ฀ –
Acquisition฀of฀marketable฀securities฀ ฀ ฀(41,900)฀ ฀฀(925,885)฀ ฀ ฀(388,672)
Proceeds฀on฀sale฀and฀maturity฀of฀marketable฀securities฀ ฀฀345,983฀฀ ฀ ฀834,907฀฀ ฀ ฀393,683฀
฀ ฀ ฀ ฀ 21,396฀ ฀฀(181,710)฀ ฀ ฀(60,550)
Foreign฀exchange฀effect฀on฀cash฀and฀cash฀equivalents฀ ฀ ฀(20)฀ ฀ ฀(4)฀ ฀ ฀8
Net฀increase฀(decrease)฀in฀cash฀and฀
฀ cash฀equivalents฀for฀the฀year฀ ฀ ฀205฀ ฀฀(168,346)฀ ฀ ฀508,696฀
Cash฀and฀cash฀equivalents,฀beginning฀of฀year฀ ฀฀340,476฀ ฀ ฀508,822฀฀ ฀ ฀126฀
Cash฀and฀cash฀equivalents,฀end฀of฀year฀$฀ 340,681฀฀ $฀ 340,476฀฀ $฀ 508,822฀
See฀notes฀to฀the฀consolidated฀nancial฀statements.฀ ฀ ฀ ฀ ฀ ฀