Computer Associates 2005 Annual Report Download - page 63

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after-tax credit of
approximately
$28 million related
to a reduction in the
allowance for
doubtful accounts
(refer to Note 5,
“Trade and
Installment
Accounts
receivable” of the
Consolidated
Financial
Statements for
additional
information).
Liquidity and Capital Resources
Cash, cash equivalents, and marketable securities totaled $3.125 billion on March 31, 2005, an increase of $1.223 billion from the
March 31, 2004 balance of $1.902 billion. Cash generated from continuing operating activities for fiscal year 2005 was $1.527 billion,
an increase of $248 million from the prior year’ s cash from continuing operations of $1.279 billion.
Cash generated from continuing operating activities was positively impacted by a decrease in taxes paid of approximately $411 million.
The decrease in taxes paid during fiscal year 2005 was primarily attributable to a new IRS Revenue Procedure, which grants taxpayers a
twelve month deferral for cash received from customers to the extent such receipts were not recognized in revenue for financial
statement purposes. In addition, cash generated from continuing
28