Classmates.com 2010 Annual Report Download - page 112

Table of Contents
UNITED ONLINE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Year Ended December 31,
2010 2009 2008
Cash flows from operating activities:
Net income (loss)
$
53,687
$
70,085
$
(94,657
)
Adjustments to reconcile net income(loss) to net cash
provided by operating activities:
Depreciation and amortization
58,645
59,673
39,773
Stock
-
based compensation
27,043
40,080
36,527
Provision for doubtful accounts receivable
5,449
6,481
2,322
Impairment of goodwill, intangible assets and long-lived
assets
—
—
176,150
Accretion of discounts and amortization of debt issue costs
4,446
6,179
1,470
Deferred taxes, net
77
(8,902
)
(16,557
)
Tax shortfalls from equity awards
(390
)
(2,996
)
(467
)
Excess tax benefits from equity awards
(1,099
)
(584
)
(295
)
Other
551
474
15
Changes in operating assets and liabilities (net of effects of
acquisitions):
Accounts receivable, net
286
(3,073
)
1,242
Other assets
(871
)
9,258
4,194
Accounts payable and accrued liabilities
(82
)
(6,496
)
(2,688
)
Member redemption liability
(890
)
(220
)
1,415
Deferred revenue
(1,969
)
(4,475
)
12,201
Other liabilities
(1,080
)
(1,958
)
3,404
Net cash provided by operating activities
143,803
163,526
164,049
Cash flows from investing activities:
Purchases of property and equipment
(27,269
)
(26,196
)
(19,886
)
Purchases of rights, content and intellectual property
(4,722
)
—
—
Purchases of short
-
term investments
—
—
(
120,378
)
Proceeds from maturities of short
-
term investments
—
—
82,765
Proceeds from sales of short
-
term investments
—
—
106,364
Cash paid for acquisitions, net of cash acquired
—
—
(
307,496
)
Proceeds from sales of assets, net
235
36
45
Net cash used for investing activities
(31,756
)
(26,160
)
(258,586
)
Cash flows from financing activities:
Proceeds from term loans and revolver
—
—
421,988
Payments on term loans and revolver
(74,819
)
(90,119
)
(313,718
)
Payments on capital leases
—
—
(
13
)
Payments for debt issue costs
—
—
(
249
)
Proceeds from exercises of stock options
1,698
546
1,668
Proceeds from employee stock purchase plans
4,440
4,069
3,754
Repurchases of common stock
(20,565
)
(6,842
)
(8,841
)
Dividends and dividend equivalents paid on outstanding
shares and restricted stock units
(36,966
)
(36,257
)
(53,060
)
Excess tax benefits from equity awards
1,099
584
295
Net cash provided by (used for) financing activities
(125,113
)
(128,019
)
51,824
Effect of foreign currency exchange rate changes on cash and
cash equivalents
(2,179
)
1,648
(2,280
)
Change in cash and cash equivalents
(15,245
)
10,995
(44,993
)
Cash and cash equivalents, beginning of period
115,509
104,514
149,507
Cash and cash equivalents, end of period
$
100,264
$
115,509
$
104,514
Supplemental disclosure of cash flows:
Cash paid for interest
$
20,273
$
29,204
$
9,587
Cash paid for income taxes
$
43,703
$
53,228
$
36,350
Supplemental disclosure of non
-
cash investing and financing
activities:
Increase (decrease) in dividend equivalents payable on