Overstock.com 2010 Annual Report Download - page 96

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Table of Contents
Overstock.com, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Year ended December 31
2010 2009 2008
Cash flows from operating activities:
Net income (loss) $ 13,889 $ 7,747 $ (11,006)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization 14,580 12,883 22,968
Realized loss on marketable securities — 48 334
Loss on settlement of notes receivable — — 3,929
Loss on disposition of fixed assets — 183 140
Stock-based compensation to employees and directors 5,056 4,775 4,372
Stock-based compensation to consultants for services — 10 259
Stock-based compensation relating to performance share plan — — (1,000)
Amortization of debt discount 391 331 334
Gain from early extinguishment of debt (346) (2,810) (2,849)
Restructuring reversals (569) (66) (299)
Notes receivable accretion — — (545)
Changes in operating assets and liabilities:
Restricted cash 1,872 (152) 4,372
Accounts receivable, net (1,920) (4,540) 4,654
Inventories, net (8,739) 1,344 3,790
Prepaid inventories, net 797 (2,118) 2,177
Prepaids and other assets 368 (604) (2,027)
Other long-term assets, net (215) (120) (516)
Accounts payable (9,315) 18,642 (10,774)
Accrued liabilities (2,575) 9,131 (7,636)
Deferred revenue 3,362 1,433 (3,733)
Other long-term liabilities (314) — (500)
Net cash provided by operating activities 16,322 46,117 6,444
Cash flows from investing activities:
Purchases of marketable securities (136) — (35,548)
Purchases of intangible assets (396) — —
Maturities of marketable securities — — 64,542
Sale of marketable securities prior to maturity — 8,893 7,740
Investment in precious metals (1,657) — —
Expenditures for fixed assets, including internal-use software and website development (20,511) (7,275) (18,707)
Collection of note receivable — 1,250 1,506
Net cash provided by (used in) investing activities (22,700) 2,868 19,533
F-7