Plantronics 2011 Annual Report Download - page 58

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CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
Stock-based compensation
Provision for (benefit from) doubtful accounts and sales allowances
Provision for excess and obsolete inventories
Benefit from deferred income taxes
Income tax benefit associated with stock option exercises
Excess tax benefit from stock-based compensation
Amortization of premium (accretion of purchase discounts) on investments, net
Impairment of goodwill and long-lived assets
Non-cash restructuring charges
Loss on sale of discontinued operations
Other operating activities
Changes in assets and liabilities:
Accounts receivable, net
Inventory, net
Current and other assets
Accounts payable
Accrued liabilities
Income taxes
Cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales of short-term investments
Proceeds from maturities of short-term investments
Purchase of short-term investments
Proceeds from sales of long-term investments
Purchase of long-term investments
Capital expenditures and other assets
Proceeds from sale of property, plant and equipment and assets held for sale
Proceeds received from sale of AEG segment
Other investing activities
Cash provided by (used for) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock including taxes paid related to net share settlement on equity awards
Proceeds from sale of treasury stock
Proceeds from issuance of common stock
Payment of cash dividends
Excess tax benefit from stock-based compensation
Cash used for financing activities
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
SUPPLEMENTAL DISCLOSURES
Cash paid for income taxes
Fiscal Year Ended March 31,
2011
$ 109,243
16,275
15,873
(8)
1,099
(5,165)
6,195
(5,747)
578
—
—
—
(5)
(15,086)
12,962
(2,280)
10,216
9,873
4,209
158,232
28,034
114,495
(256,258)
664
(48,870)
(18,567)
9,066
1,625
(100)
(169,911)
(105,716)
4,192
50,109
(9,703)
5,747
(55,371)
1,464
(65,586)
349,961
$ 284,375
$ 29,180
2010
$ 57,378
18,144
14,577
(243)
418
(12,449)
3,669
(2,247)
—
25,194
6,261
611
384
388
27,620
2,868
(9,048)
(1,001)
11,205
143,729
4,000
145,000
(84,990)
750
—
(6,262)
277
9,121
—
67,896
(49,652)
3,623
32,581
(9,781)
2,247
(20,982)
1,125
191,768
158,193
$ 349,961
$ 11,663
2009
$ (64,899)
25,822
15,742
2,698
11,364
(26,853)
1,025
(592)
—
117,464
581
—
358
50,706
(5,358)
(6,935)
(15,069)
(6,701)
(203)
99,150
—
30,000
(89,896)
—
—
(23,682)
—
—
406
(83,172)
(17,817)
5,198
6,899
(9,787)
592
(14,915)
(5,961)
(4,898)
163,091
$ 158,193
$ 12,519
The accompanying notes are an integral part of these consolidated financial statements.
Table of Contents PLANTRONICS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
49