MoneyGram 2009 Annual Report Download - page 84

Table of Contents
MONEYGRAM INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2009 2008 2007
(Amounts in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (1,906) $ (261,385) $ (1,071,997)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
Net loss from discontinued operations — — 249
Provision for deferred income taxes (14,915) (425) 37,637
Depreciation and amortization 57,091 56,672 51,979
Other-than-temporary impairment charges 4,069 70,274 1,193,210
Net (gain) loss on sales and maturities of investments (7,555) 256,299 (3,649)
Unrealized losses on trading investments — 40,620 195
Valuation gain on put options related to trading investments (4,304) (26,505) —
Net amortization of investment premiums and discounts 740 735 (15,752)
Valuation loss on embedded derivative — 16,030 —
Impairment of goodwill 6,245 8,809 6,355
Asset impairments and adjustments 11,983 — 850
Signing bonus amortization 35,280 37,261 25,815
Amortization of debt discount and deferred financing costs 12,765 7,484 197
Debt extinguishment loss — 1,499 —
Provision for uncollectible receivables 21,432 12,396 8,532
Non-cash compensation and pension expense 9,608 12,596 14,177
Other non-cash items, net 4,650 11,709 (28,088)
Change in foreign currency translation adjustments (406) 3,039 (3,682)
Change in other assets 27,860 (71,131) 5,401
Change in accounts payable and other liabilities (5,634) (95,622) 7,984
Total adjustments 158,909 341,740 1,301,410
Change in cash and cash equivalents (substantially restricted) 300,557 (2,524,402) (563,779)
Change in trading investments and related put options, net (substantially restricted) 32,900 — 83,200
Change in receivables, net (substantially restricted) 186,619 128,752 342,681
Change in payment service obligations (594,545) (2,324,486) (447,319)
Net cash provided by (used in) continuing operating activities 82,534 (4,639,781) (355,804)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of investments classified as available-for-sale — 2,896,011 321,693
Proceeds from maturities of investments classified as available-for-sale 140,999 493,320 755,921
Purchases of investments classified as available-for-sale — — (758,898)
Purchases of property and equipment (37,948) (38,470) (70,457)
Proceeds from sale of business 4,500 — —
Cash paid for acquisitions, net of cash acquired (3,210) (2,928) (29,212)
Net cash provided by investing activities 104,341 3,347,933 219,047
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt — 733,750 —
Transaction costs for issuance and amendment of debt — (47,805) —
Payment on debt (41,875) (1,875) —
Proceeds from revolving credit facility — — 197,000
Payment on revolving credit facility (145,000) (100,000) (2,000)
Proceeds from issuance of preferred stock — 760,000 —
Transaction costs for issuance of preferred stock — (52,222) —
Proceeds and tax benefit from exercise of stock options — — 7,674
Purchase of treasury stock — — (45,992)
Cash dividends paid — — (16,625)
Net cash (used in) provided by financing activities (186,875) 1,291,848 140,057
CASH FLOWS OF DISCONTINUED OPERATIONS
Investing cash flows — — (3,300)
Net cash used in discontinued operations — — (3,300)
NET CHANGE IN CASH AND CASH EQUIVALENTS — — —
CASH AND CASH EQUIVALENTS — Beginning of period — — —
CASH AND CASH EQUIVALENTS — End of period $ — $ — $ —
See Notes to Consolidated Financial Statements
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