American Home Shield 2008 Annual Report Download - page 73
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Table of Contents
Consolidated Statements of Cash Flows
(In thousands)
Successor
Predecessor
Year Ended
Dec. 31, 2008
Jul. 25, 2007 to
Dec. 31, 2007
Jan. 1, 2007 to
Jul. 24, 2007
Year Ended
Dec. 31, 2006
Cash and Cash Equivalents at Beginning of Period $ 207,219 $ 237,565 $ 123,675 $ 114,508
Cash Flows from Operating Activities from Continuing Operations:
Net (Loss) Income (126,399) (123,520) 81,101 169,699
Adjustments to reconcile net (loss) income to net cash provided from operating
activities:
Loss from discontinued operations 4,526 27,208 4,588 15,585
Depreciation expense 55,578 22,979 27,242 47,177
Amortization expense 173,626 132,662 5,172 7,159
Amortization of debt issuance costs 27,093 16,147 1,261 2,271
Deferred income tax (benefit) provision (50,258) (69,786) 30,443 21,771
Option and restricted stock expense 7,032 300 3,415 10,869
Trade name impairment 60,100 — — —
Restructuring charges 11,246 26,016 16,919 21,648
Cash payments related to restructuring charges (20,048) (27,069) (8,236) (10,044)
Merger related charges 1,249 799 41,431 992
Change in working capital, net of acquisitions:
Change in tax accounts:
Current income taxes 1,115 6,014 951 34,686
Resolution of income tax audits — — — (3,480)
Receivables (793) 70,819 (66,454) (27,409)
Inventories and other current assets (19,226) 1,504 (59,482) (5,592)
Accounts payable (14,964) (28,744) 18,455 15,034
Deferred revenue 31,421 6,400 55,070 3,348
Accrued liabilities 8,104 935 40,635 (9,808)
Other, net 12,656 4,734 2,982 4,725
Net Cash Provided from Operating Activities from Continuing Operations 162,058 67,398 195,493 298,631
Cash Flows from Investing Activities from Continuing Operations:
Property additions (88,050) (15,556) (26,563) (51,593)
Sale of equipment and other assets 5,887 2,636 1,091 1,819
Acquisition of The ServiceMaster Company (27,111) (4,906,526) (4,030) —
Other business acquisitions, net of cash acquired (60,764) (14,889) (25,460) (143,406)
Notes receivable, financial investments and securities 95,437 (29,647) 38,127 (26,495)
Net Cash Used for Investing Activities from Continuing Operations (74,601) (4,963,982) (16,835) (219,675)
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