TiVo 2013 Annual Report Download - page 60

Table of Contents
10,340,446 shares of common stock under this program at a weighted average price of $11.04 per share for an aggregate purchase price of
$114.2 million and the remaining authorized amount for stock repurchases under this program was $185.8 million with a termination date of
August 29, 2015. We plan to continue to utilize $100 million of our cash for the repurchase of shares of our stock during the quarter ending
April 30, 2014.
 We have an effective universal shelf registration statement on Form S-3 (No. 333-171031)
on file with the SEC under which we may issue an unlimited amount of securities, including debt securities, common stock, preferred stock,
and warrants. Depending on market conditions, we may issue securities under this or future registration statements or in private offerings
exempt from registration requirements.
Contractual Obligations






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Long-term debt obligations
$172,500
$—
$172,500
$—
Interest on Convertible Debt
17,154
6,900
10,254
—
—
Operating leases
$8,841
$3,189
$5,652
$—
$—
Purchase obligations
17,196
17,196
—
—
—

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 
 
Purchase Commitments with Contract Manufacturers and Suppliers. We purchase components from a variety of suppliers and
use several contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to
manage manufacturing lead times and help assure adequate component supply, we enter into agreements with contract manufacturers and
suppliers that either allow them to procure inventory based upon criteria as defined by us or that establish the parameters defining our
requirements. In certain instances, these agreements allow us the option to cancel, reschedule, and adjust our requirements based on our
business needs prior to firm orders being placed. The table above displays that portion of our purchase commitments arising from these
agreements that is firm, non-cancelable, and unconditional. If there are unexpected changes to anticipated demand for our products or in the
sales mix of our products, some of the firm, non-cancelable, and unconditional purchase commitments may result in our being committed to
purchase excess inventory.
As of January 31, 2014, gross unrecognized tax benefits, which if recognized would affect our effective tax rate, were approximately $6.2
million, which are classified as long-term liabilities on the consolidated balance sheets. At this time, we are unable to make a reasonably
reliable estimate of the timing of payments in individual years due to uncertainties in the timing of tax audit outcomes and the related ability
to use net operating loss or tax credit carryforwards; therefore, such amounts are not included in the above contractual obligation table.
Off-Balance Sheet Arrangements
As part of our ongoing business, we generally do not engage in transactions that generate relationships with unconsolidated entities or
financial partnerships, such as entities often referred to as structured finance or special purpose entities. Accordingly, our operating results,
financial condition, and cash flows are not generally subject to off-balance sheet risks associated with these types of arrangements. We did
not have any material off-balance sheet arrangements as of January 31, 2014.
 
Our exposure to market risk for changes in interest rates relates primarily to our investment portfolio. We do not use derivative
financial instruments in our investment portfolio and we conduct transactions in U.S. dollars. We currently invest the majority of our cash in
money market funds, investment-grade government and corporate debt, and investment-grade foreign corporate and government securities.
We maintain our investments with two financial institutions with high credit ratings. As part of our cash management process, we perform
periodic evaluations of the relative credit ratings of issuers of these securities. We have not experienced any credit losses on our cash, cash
equivalents, or short and long-term investments. Our investment portfolio only includes instruments with original maturities of less than
two years held for investment purposes, not trading purposes. Due to the short-term nature
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