Computer Associates 2008 Annual Report Download - page 79

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CA, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(IN MILLIONS) 2008 2007 2006
YEAR ENDED MARCH 31,
Operating Activities:
Net income $ 500 $ 118 $ 159
Loss from discontinued operations, net of income taxes —31
Income from continuing operations 500 121 160
Adjustments to reconcile income from continuing operations to net cash provided by continuing
operating activities:
Depreciation and amortization 273 502 583
Decrease in (provision for) deferred income taxes (4) (217) (340)
Provision for bad debts 23 4 (24)
Non-cash stock based compensation expense 122 116 99
Non-cash charge for purchased in-process research and development —10 18
Loss (gain) on sale of assets 12 (18) (7)
Charge for impairment of assets 616 —
Foreign currency transaction gain — before taxes (28) — (9)
Changes in other operating assets and liabilities, net of effect of acquisitions:
Decrease (increase) in trade and current installment accounts receivable, net 71 195 (209)
Decrease in noncurrent installment accounts receivable, net 40 79 169
Increase in deferred revenue (billed or collected) — current & noncurrent 258 294 798
(Decrease) increase in taxes payable, net (82) (93) 75
Increase (decrease) in accounts payable, accrued expenses and other (95) (12) 107
Restitution fund, net —— (150)
Restructuring and other, net 12 77 56
Changes in other operating assets and liabilities (5) (6) 54
Net Cash Provided by Continuing Operating Activities 1,103 1,068 1,380
Investing Activities:
Acquisitions, primarily goodwill, purchased software, and other intangible assets, net of cash
acquired (27) (212) (1,011)
Settlements of purchase accounting liabilities (7) (21) (37)
Purchases of property and equipment (117) (150) (143)
Proceeds from sale of assets 19 21 2
Proceeds from divestiture of assets —1—
Proceeds from sale-lease back transactions 27 201 75
Purchase of marketable securities (4) — (54)
Proceeds from sale of marketable securities 144 398
(Decrease) increase in restricted cash 1(1) 7
Capitalized software development costs (112) (85) (84)
Net Cash Used in Investing Activities (219) (202) (847)
See accompanying Notes to the Consolidated Financial Statements.
69