American Home Shield 2010 Annual Report Download - page 70

Table of Contents
Consolidated Statements of Cash Flows
(In thousands)
Year Ended December 31,
2010 2009 2008
Cash and Cash Equivalents at Beginning of Period $ 253,463 $ 405,587 $ 207,219
Cash Flows from Operating Activities from Continuing Operations:
Net (Loss) Income (14,559) 13,495 (126,399)
Adjustments to reconcile net (loss) income to net cash provided from operating activities:
Loss from discontinued operations 528 1,112 4,526
Depreciation expense 69,034 64,392 55,578
Amortization expense 139,115 161,886 173,626
Amortization of debt issuance costs 14,503 14,639 27,093
Gain on extinguishment of debt — (46,106) —
Deferred income tax benefit (12,923) (14,292) (50,258)
Stock-based compensation expense 9,352 8,097 7,032
Goodwill and trade name impairment 46,884 28,000 60,100
Restructuring and Merger related charges 12,226 26,876 12,495
Cash payments related to restructuring charges (11,364) (24,100) (20,048)
Change in working capital, net of acquisitions:
Current income taxes (6,757) 10,245 1,115
Receivables (30,331) (9,651) (793)
Inventories and other current assets 230 1,848 (19,226)
Accounts payable 9,945 (18,883) (14,964)
Deferred revenue (1,839) 4,192 31,421
Accrued liabilities 3,471 (39,392) 8,104
Other, net 5,958 9,833 12,656
Net Cash Provided from Operating Activities from Continuing Operations 233,473 192,191 162,058
Cash Flows from Investing Activities from Continuing Operations:
Property additions (145,418) (62,522) (88,050)
Sale of equipment and other assets 2,062 3,189 5,887
Acquisition of The ServiceMaster Company (2,245) (1,695) (27,111)
Other business acquisitions, net of cash acquired (57,941) (32,647) (60,764)
Purchase of other intangibles (2,500) — —
Notes receivable, financial investments and securities, net 20,427 6,151 95,437
Net Cash Used for Investing Activities from Continuing Operations (185,615) (87,524) (74,601)
Cash Flows from Financing Activities from Continuing Operations:
Borrowings of debt 15,000 — 357,000
Payments of debt (61,333) (252,885) (240,985)
Debt issuance costs paid (30) (426) (26,973)
Net Cash (Used for) Provided from Financing Activities from Continuing Operations (46,363) (253,311) 89,042
Cash Flows from Discontinued Operations:
Cash (used for) provided from operating activities (4,362) (2,566) 2,721
Cash provided from (used for) investing activities:
Proceeds from sale of businesses — — 19,523
Other investing activities — (914) (208)
Cash used for financing activities — — (167)
Net Cash (Used for) Provided from Discontinued Operations (4,362) (3,480) 21,869
Cash (Decrease) Increase During the Period (2,867) (152,124) 198,368
Cash and Cash Equivalents at End of Period $ 250,596 $ 253,463 $ 405,587
See accompanying Notes to the Consolidated Financial Statements.
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