Computer Associates 2011 Annual Report Download - page 71

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CA, Inc. and subsidiaries
consolidated statements of cash flows
(IN MILLIONS) 2011 2010 2009
YEAR ENDED MARCH 31,
Operating activities:
Net income $ 827 $ 771 $ 671
Income from discontinued operations (4) (12) (10)
Income from continuing operations 823 759 661
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization 379 292 259
Provision for deferred income taxes 140 68 (56)
Provision for bad debts 6615
Share based compensation expense 80 102 92
Amortization of discount on convertible debt —29 37
Asset impairments and other non-cash activities 213 2
Foreign currency transaction losses (gains) 4(10) 67
Changes in other operating assets and liabilities, net of effect of acquisitions:
Decrease in trade and current installment accounts receivable, net 140 8 195
(Decrease) increase in deferred revenue (128) 94 (49)
Increase (decrease) in taxes payable, net (8) (18) 34
Increase (decrease) in accounts payable, accrued expenses and other 23 (21) (73)
(Decrease) increase in accrued salaries, wages, and commissions (16) 25 (29)
Decrease in restructuring liabilities (63) (12) (13)
Changes in other operating assets and liabilities (5) 142
Net cash provided by operating activities — continuing operations 1,377 1,336 1,184
Investing activities:
Acquisitions of businesses, net of cash acquired, and purchased software (252) (617) (76)
Purchases of property and equipment (92) (79) (83)
Proceeds from sale and divestiture of assets 13 —6
Capitalized software development costs (170) (188) (129)
Purchases of marketable securities (209) ——
Proceeds from the sale of marketable securities 9——
Maturities of marketable securities 19 ——
Other investing activities (18) (4) (2)
Net cash used in investing activities — continuing operations (700) (888) (284)
Financing activities:
Dividends paid (82) (83) (83)
Purchases of common stock (235) (227) (4)
Debt borrowings 260 744 1
Debt repayments (273) (1,205) (680)
Debt issuance costs —(6) —
Proceeds from call spread option —61 —
Exercise of common stock options and other 10 11 7
Net cash used in financing activities — continuing operations (320) (705) (759)
Net change in cash and cash equivalents before effect of exchange rate changes on cash — continuing
operations 357 (257) 141
Effect of exchange rate changes on cash 89 104 (252)
Cash provided by operating activities — discontinued operations 424 28
Cash provided by investing activities — discontinued operations 16 ——
Net effect of discontinued operations on cash and cash equivalents 20 24 28
Increase (decrease) in cash and cash equivalents 466 (129) (83)
Cash and cash equivalents at beginning of period 2,583 2,712 2,795
Cash and cash equivalents at end of period $3,049 $ 2,583 $2,712
See accompanying Notes to the Consolidated Financial Statements
59