Earthlink 2000 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2000 Earthlink annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

EARTHLINK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
The accompanying notes are an integral part of these consolidated financial statements
F
-
8
YEAR ENDED DECEMBER 31,
------------------------------------
1998 1999 2000
--------- ------------ ---------
(IN THOUSANDS)
Cash flows from operating activities:
Net loss.................................................. $ (53,178) $(173,694) $(345,922)
Adjustments to reconcile net loss to net cash provided by
(used in) operating activities, net of effect from
acquisition:
Depreciation and amortization........................... 69,953 190,504 205,552
Loss on investments in other companies.................. -- -- 3,900
Loss on sale of assets.................................. -- 31 --
Issuance of common stock in exchange for professional
services.............................................. 130 -- --
Issuance of warrants in exchange for professional
services.............................................. 60 -- --
Increase in net accounts receivable..................... (3,536) (9,801) (20,611)
(Increase) decrease in prepaid expenses and other
assets................................................ (3,496) (32,077) 7,824
Increase in accounts payable and accrued liabilities.... 41,679 56,790 9,053
Increase in deferred revenue............................ 10,486 12,458 13,042
--------- --------- ---------
Net cash provided by (used in) operating activities......... 62,098 44,211 (127,162)
Cash flows from investing activities:
Purchase of property and equipment...................... (44,492) (109,819) (139,414)
Sale of property and equipment.......................... -- 1,416 --
Purchase of intangible assets........................... (27,321) (227,494) (37,304)
Acquisition of business, net of cash acquired........... -- -- (155,561)
Transaction costs....................................... (9,914) -- (12,477)
Cash acquired from acquisition.......................... 23,750 -- 2,125
Investments in other companies.......................... -- (4,000) (9,100)
Liquidation of restricted short-term investment......... 1,250 -- --
Other................................................... (159) 148 --
--------- --------- ---------
Net cash used in investing activities................. (56,886) (339,749) (351,731)
Cash flows from financing activities:
Proceeds from issuance of notes payable................. 200 174,082 --
Repayment of notes payable.............................. (6,626) -- (179,975)
Proceeds from line of credit............................ -- 77,987 --
Repayment of line of credit............................. -- (80,000) --
Proceeds from sale and leaseback transactions........... 9,275 13,456 5,619
Principal payments under capital lease obligations...... (11,141) (14,501) (16,277)
Proceeds from public stock offerings.................... 280,849 489,260 --
Proceeds from sale of common stock...................... -- -- 118,462
Proceeds from issuance of preferred stock............... -- -- 589,305
Proceeds from exercise of stock options................. 4,243 10,952 6,932
Proceeds from exercise of warrants...................... 759 407 511
Proceeds from liquidation of stock subscription
receivable............................................ -- 1,041 --
Repurchase of common stock.............................. -- -- (56,691)
--------- --------- ---------
Net cash provided by financing activities............. 277,559 672,684 467,886
Net increase (decrease) in cash and cash equivalents........ 282,771 377,146 (11,007)
Cash and cash equivalents, beginning of year................ 25,836 308,607 685,753
--------- --------- ---------
Cash and cash equivalents, end of year...................... $ 308,607 $ 685,753 $ 674,746
========= ========= =========
Acquisition, net of cash acquired:
Issuance of convertible preferred stock................. $ 135,000 $ --
Issuance of common stock................................ -- 106,698
Acquisition of business................................. -- 155,561
Transaction costs....................................... 9,914 28,839
Net liabilities assumed................................. -- 26,025
Intangible assets....................................... (121,164) (314,998)
--------- ---------
Cash acquired from acquisition.......................... $ 23,750 $ 2,125
========= =========