Earthlink 2001 Annual Report Download - page 36

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The accompanying notes are an integral part of these consolidated financial statements
F-7
EARTHLINK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Balance at December 31, 1998
13,252
$
132
103,515
$
1,035
$
(1,041
)
$
540,342
$
—
$
597
$
(140,578
)
$
400,487
Issuance of Series B convertible preferred stock
979
10
— — —
42,612
— — —
42,622
Accretion of convertible preferred stock — — — — —
14,106
— — (
14,106
) —
Follow on offering, net of expenses
—
—
9,744
98
—
446,540
—
—
—
446,638
Issuance of common stock pursuant to customer
base acquisition — —
752
7
—
29,993
— — —
30,000
Issuance of common stock pursuant to exercise
of stock options and warrants — —
2,854
29
—
11,450
— (
120
) —
11,359
Collection of notes receivable from stock sales — — — —
1,041
— — — —
1,041
Net loss
—
—
—
—
—
—
—
—
(
173,694
)
(173,694
)
Balance at December 31, 1999
14,231
142
116,865
1,169
—
1,085,043
—
477
(328,378
)
758,453
Issuance of Series B convertible preferred stock
22,072
221
— — —
389,556
— — —
389,777
Issuance of Series C convertible preferred stock
7,083
71
—
—
—
199,457
—
—
—
199,528
Accretion of convertible preferred stock — — — — —
23,730
— — (
23,730
) —
Repurchase of common stock — — — — — — (
56,691
) — — (
56,691
)
Issuance of common stock pursuant to OneMain
acquisition
—
—
4,278
43
—
49,964
56,691
—
—
106,698
Issuance of common stock pursuant to top-up
agreement with Sprint — —
6,680
67
—
118,395
— — —
118,462
Issuance of common stock pursuant to exercise
of stock options and warrants — —
2,241
22
—
7,450
— (
29
) —
7,443
Issuance of options and warrants in OneMain
acquisition
—
—
—
—
—
3,539
—
964
—
4,503
Net loss
— — — — — — — — (
345,922
)
(345,922
)
Balance at December 31, 2000
43,386
434
130,064
1,301
—
1,877,134
—
1,412
(698,030
)
1,182,251
Conversion of Series A convertible preferred
stock to common stock
(3,000
)
(30
)
3,000
30
— — — — — —
Conversion of Series B convertible preferred
stock to common stock
(5,888
)
(59
)
5,888
59
— — — — — —
Conversion of Series C convertible preferred
stock to common stock
(7,083
)
(71
)
7,083
71
— — — — — —
Forfeiture of convertible preferred stock due to
early conversion
(464
)
(4
)
—
—
—
4
—
—
—
—
Accretion of convertible preferred stock — — — — —
29,880
— — (
29,880
) —
Issuance of common stock pursuant to
acquisitions
—
—
140
1
—
1,875
—
—
—
1,876
Issuance of common stock pursuant to exercise
of stock options and warrants — —
1,819
18
—
8,159
— (
189
) —
7,988
Net loss
—
—
—
—
—
—
—
—
(
341,061
)
(341,061
)
Balance at December 31, 2001
26,951
$
270
147,994
$
1,480
$
—
$
1,917,052
$
—
$
1,223
$
(1,068,971
)
$
851,054
Year Ended December 31,
1999
2000
2001
(In thousands)
Cash flows from operating activities:
Net loss
$
(173,694
)
$
(345,922
)
$
(341,061
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities, net of effect
from acquisitions:
Depreciation and amortization
189,523
205,552
329,210
Write-off of deferred financing costs
981
— —
Loss on investments in other companies —
3,900
10,000
Write-off of intangible assets — —
11,252
Loss on sale of assets
31
— —
(Increase) decrease in net accounts receivable
(9,801
)
(20,611
)
10,896
(Increase) decrease in prepaid expenses and other assets
(32,077
)
7,824
12,320
Increase in accounts payable and accrued liabilities
56,790
9,053
27,304