Carbonite 2011 Annual Report Download - page 51

Table of Contents
In 2009, cash provided by investing activities was $7.3 million, consisting primarily of net proceeds from short-
term investments of $14.4 million,
offset by capital expenditures of $7.1 million.
Financing activities
Cash provided by financing activities in 2011 was $56.6 million, consisting of $55.6 million of net proceeds from our initial public offering and
$1.0 million from the exercise of stock options.
Cash provided by financing activities in 2010 was $1.0 million, consisting primarily of net proceeds of $0.8 million from the issuance of shares of
Series D convertible preferred stock and $0.3 million from the exercise of stock options.
Cash provided by financing activities in 2009 was $19.4 million, consisting primarily of net proceeds of $19.2 million from the issuance of shares
of Series D convertible preferred stock and $0.2 million from the exercise of stock options.
Off-balance sheet arrangements
As of December 31, 2011, we did not have any off-balance sheet arrangements.
Contractual obligations
The following table summarizes our contractual obligations at December 31, 2011 and the effect such obligations are expected to have on our
liquidity and cash flow in future periods.
The commitments under our office lease obligations shown above consist primarily of lease payments for our Boston, Massachusetts corporate
headquarters, our Lewiston, Maine customer support facility.
We also lease small amounts of general office space in Princeton, New Jersey and Beijing, China under lease agreements that expire at various
dates through August 2012.
Our Lewiston, Maine support facility lease expires on June 1, 2016. We may terminate this lease at any time after May 31, 2013. The lease
contains a renewal option for an additional two years, and requires us to pay a proportion of increases in operating expenses and real estate taxes after
January 1, 2013.
The commitment under our hosting facility obligations shown above consist of Boston, Massachusetts, Wakefield, Massachusetts, and Phoenix,
Arizona data centers.
We intend to relocate our equipment and operations from our Boston, Massachusetts data center to one of our other data centers and to discontinue
the use of our Boston, Massachusetts data center during the first half of 2012. The term of our Boston, Massachusetts data center lease is currently set to
expire in August 2013. We are likely to incur a non-recurring moving and transition expense related to the relocation of these hosting operations.
Other purchase commitments shown above consist of contractual commitments to various vendors primarily for advertising, marketing, and
broadband services.
48
Payment Due by Period
Total
Less
Than 1
Year
1
-
3 Years
3
-
5 Years
(in thousands)
Office lease obligations
$
6,820
$
1,234
$
2,810
$
2,776
Hosting facility lease obligations
6,358
1,932
3,142
1,284
Other purchase commitments
6,122
5,079
722
321
Total
$
19,300
$
8,245
$
6,674
$
4,381