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ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
19. Restatement (Continued)
of ebookers in Note 3—Acquisitions has also been revised to reflect the reclassification of credit card receipts in-transit.
The following table reflects the impact of the restatement on our consolidated statements of cash flows for the year ended December 31, 2007, the period
from August 23, 2006 to December 31, 2006, the period from January 1, 2006 to August 22, 2006 and the year ended December 31, 2005.
Successor
Year Ended
December 31, 2007
Period from August 23, 2006
to December 31, 2006
Previously
Reported
As
Restated
Previously
Reported
As
Restated
(in millions)
Net cash provided by operating activities:
Accounts receivable $ (12) $ (2) $ 8 $ 8
Accounts payable, accrued expenses and other current liabilities 77 40 12 12
Net cash provided by operating activities 96 69 39 39
Net cash (used in) investing activities (80) (80) (29) (29)
Net cash (used in) provided by financing activities:
Advances to Travelport (150) (113) (7) (7)
Net cash (used in) provided by financing activities (24) 13 (7) (7)
Effects of changes in exchange rates on cash and cash equivalents 5 5 (11) (11)
Net (decrease) increase in cash and cash equivalents (3) 7 (8) (8)
Cash and cash equivalents, beginning of period 28 18 36 26
Cash and cash equivalents, end of period $ 25 $ 25 $ 28 $ 18
Predecessor
Period from January 1, 2006
to August 22, 2006
Year Ended
December 31, 2005
Previously
Reported
As
Restated
Previously
Reported
As
Restated
(in millions)
Net cash provided by operating activities:
Accounts receivable $ (7) $ (12) $ (5) $ (5)
Net cash provided by operating activities 126 121 59 59
Net cash (used in) investing activities(a):
Acquisition of businesses, net of acquired cash — — (432) (437)
Net cash (used in) investing activities: (54) (54) (474) (479)
Net cash (used in) provided by financing activities: (70) (70) 433 433
Effects of changes in exchange rates on cash and cash equivalents 1 1 (9) (9)
Net increase (decrease) in cash and cash equivalents 3 (2) 9 4
Cash and cash equivalents, beginning of period 33 28 24 24
Cash and cash equivalents, end of period $ 36 $ 26 $ 33 $ 28
(a)
Due to Cendant's acquisition of ebookers in February 2005, the reclassification of credit card receipts in-transit impacted net cash used in investing
activities for the year ended December 31, 2005.
117
Source: Orbitz Worldwide, In, 10-K/A, August 28, 2008