iRobot 2012 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2012 iRobot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

46
iROBOT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal Year Ended
December 29,
2012
December 31,
2011
January 1,
2011
(In thousands)
Cash flows from operating activities:
Net income $ 17,297 $ 40,191 $ 25,514
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 11,672 10,312 7,541
Loss on disposal of property and equipment 1,332 599 204
Stock based compensation 10,983 8,784 8,165
Deferred income taxes, net (3,763) 6,154 (4,998)
Tax benefit of excess stock based compensation deductions (1,445) (6,917) (2,622)
Non-cash director deferred compensation 87 162 132
Changes in operating assets and liabilities — (use) source
Accounts receivable 15,560 (9,282) 1,115
Unbilled revenue 1,166 1,650 (2,181)
Inventory (807) (3,929) 5,246
Other assets (2,892) (1,843) (2,082)
Accounts payable (8,684) 9,717 8,130
Accrued expenses (656) 1,421 1,495
Accrued compensation (6,106) 52 4,302
Deferred revenue 4,730 (2,007) (374)
Long term liabilities (613) 671 (430)
Net cash provided by operating activities 37,861 55,735 49,157
Cash flows from investing activities:
Additions of property and equipment (6,770) (13,011) (12,597)
Change in other assets (6,000) — —
Purchase of Evolution Robotics, Inc., net of cash received (74,530) — —
Purchase of investments (5,086) (9,189) (30,461)
Sales of investments 10,000 5,000 21,500
Net cash used in investing activities (82,386) (17,200) (21,558)
Cash flows from financing activities:
Income tax withholding payment associated with restricted stock vesting (784) (928) (284)
Proceeds from stock option exercises 4,326 13,401 6,590
Tax benefit of excess stock based compensation deductions 1,445 6,917 2,622
Net cash provided by financing activities 4,987 19,390 8,928
Net increase (decrease) in cash and cash equivalents (39,538) 57,925 36,527
Cash and cash equivalents, at beginning of period 166,308 108,383 71,856
Cash and cash equivalents, at end of period $ 126,770 $ 166,308 $ 108,383
Supplemental disclosure of cash flow information
Cash paid for income taxes $ 11,663 $ 8,046 $ 17,807
See accompanying Notes to Consolidated Financial Statements