Computer Associates 2007 Annual Report Download - page 92

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CA, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(IN MILLIONS) 2007 2006 2005
YEAR ENDED MARCH 31,
Operating Activities:
Net income $ 118 $ 159 $ 24
Loss from discontinued operations, net of income taxes 313
Income from continuing operations 121 160 27
Adjustments to reconcile income from continuing operations to net cash provided by continuing
operating activities:
Depreciation and amortization 502 583 577
Provision for deferred income taxes (249) (340) (192)
Non-cash stock based compensation expense 116 99 116
Non-cash charge for purchased in-process research and development 10 18 —
Gain on sale of assets (18) (7) —
Charge for impairment of assets 16 ——
Foreign currency transaction (gain) loss — before taxes —(9) 8
Shareholder litigation settlement ——16
Changes in other operating assets and liabilities, net of effect of acquisitions:
Decrease in trade and current installment accounts receivable, net 244 293 340
Decrease in noncurrent installment accounts receivable, net 80 142 167
Increase in deferred subscription revenue (collected) — current 233 125 164
Increase (decrease) in deferred subscription revenue (collected) — noncurrent 13 154 (7)
Increase in financing obligations (collected) — current 38 24 —
Increase (decrease) in financing obligations (collected) — noncurrent 14 25 (1)
Decrease in deferred maintenance revenue (68) (20) (27)
(Decrease) increase in taxes payable, net (61) 75 164
(Decrease) increase in accounts payable, accrued expenses and other (22) 87 56
Restitution fund, net —(150) 143
Restructuring and other, net 106 56 3
Changes in other operating assets and liabilities (7) 65 (27)
Net Cash Provided by Continuing Operating Activities 1,068 1,380 1,527
Investing Activities:
Acquisitions, primarily goodwill, purchased software, and other intangible assets, net of cash
acquired (212) (1,011) (469)
Settlements of purchase accounting liabilities (21) (37) (21)
Purchases of property and equipment (150) (143) (69)
Proceeds from sale of assets 21 2—
Proceeds from divesture of assets 1—14
Proceeds from sale-lease back transactions 201 75 —
Purchase of marketable securities —(54) (390)
Proceeds from sale of marketable securities 44 398 274
(Increase) decrease in restricted cash (1) 7 (9)
Capitalized software development costs (85) (84) (70)
Net Cash Used in Investing Activities (202) (847) (740)
See Accompanying Notes to the Consolidated Financial Statements.
80