Computer Associates 2005 Annual Report Download - page 107

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Table of Contents
COMPUTER ASSOCIATES INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended March 31,
2005 2004 2003
(restated) (restated) (restated)
(in millions)
OPERATING ACTIVITIES:
Net loss $ (4 ) $ (20) $ (337)
Income from discontinued operation, net of tax
—
(61) (3)
Adjustment to gain on disposal of discontinued operation, net of tax 2
—
—
Loss from continuing operations (2 ) (81) (340)
Adjustments to reconcile loss from continuing operations to net cash provided by
continuing operating activities:
Depreciation and amortization 577 597 605
Provision for deferred income taxes (196 ) (292) (501)
Non-cash compensation expense related to stock and pension plans 104 120 153
Shareholder litigation settlement 16 158
—
Government investigation settlement 143 10
—
Foreign currency transaction loss — before taxes 8 41 66
Impairment charges
—
4 80
Loss (gain) on sale or disposal of assets, net 11 (19) 3
(Gain) loss on investments (8 )
—
11
Gain on early retirement of debt
—
—
(3)
Changes in other operating assets and liabilities
Decrease in noncurrent installment accounts receivable, net 210 464 643
(Decrease) increase in deferred subscription revenue (collected) — noncurrent (8 ) 92 (47)
Decrease in deferred maintenance revenue (27 ) (55) (126)
Decrease in trade and installment receivables, net — current 489 352 650
Increase in deferred subscription revenue (collected) — current 54 106 164
Increase in taxes payable 165 35 54
Changes in other operating assets and liabilities, excluding effects of acquisitions and
divestitures (9 ) (253) (102)
NET CASH PROVIDED BY CONTINUING OPERATING ACTIVITIES 1,527 1,279 1,310
INVESTING ACTIVITIES:
Acquisitions, primarily goodwill, purchased software, and other intangibles assets, ne
t
of cash acquired (469 ) (52) (19)
Settlements of purchase accounting liabilities (21 ) (19) (49)
Purchases of property and equipment (69 ) (30) (28)
Proceeds from sale of property and equipment
—
21 4
Proceeds from divestiture of assets 14 90 20
Increase in restricted cash (9 ) (56)
—
Purchases of marketable securities (390 ) (55) (49)
Sales of marketable securities 274 50 41
Capitalized software development costs (70 ) (44) (40)
NET CASH USED IN INVESTING ACTIVITIES (740 ) (95) (120)
64