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Table of Contents EARTHLINK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2011
104
Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Eliminations
Consolidated
Cash flows from operating activities
$
129,515
$
(20,440
)
$
37,159
—
$
146,234
Cash flows from investing activities:
Purchase of businesses, net of cash acquired
(20,236
)
—
(
22,859
)
—
(
43,095
)
Purchases of property and equipment
(9,341
)
(42,815
)
(49,811
)
—
(
101,967
)
Purchases of marketable securities
(29,621
)
—
—
—
(
29,621
)
Sales and maturities of investments in marketable
securities
319,729
—
—
—
319,729
Payment for investment in subsidiary stock
(30,000
)
—
—
30,000
—
Change in restricted cash
—
—
489
—
489
Other
(600
)
(3,412
)
71
—
(
3,941
)
Net cash provided by (used in) investing activities
229,931
(46,227
)
(72,110
)
30,000
141,594
Cash flows from financing activities:
Proceeds from issuance of debt, net of issues costs
278,256
—
—
—
278,256
Repayment of debt and capital lease obligations
(257,063
)
(267,837
)
(3,650
)
—
(
528,550
)
Repurchases of common stock
(46,989
)
—
—
—
(
46,989
)
Payment of dividends
(22,913
)
—
—
—
(
22,913
)
Proceeds from exercises of stock options
619
—
—
—
619
Proceeds from parent
—
—
30,000
(30,000
)
—
Change in due to/from affiliates, net
(360,608
)
360,608
—
—
—
Other
—
634
(54
)
—
580
Net cash (used in) provided by financing activities
(408,698
)
93,405
26,296
(30,000
)
(318,997
)
Net (decrease) increase in cash and cash equivalents
(49,252
)
26,738
(8,655
)
—
(
31,169
)
Cash and cash equivalents, beginning of year
197,615
1,752
43,585
—
242,952
Cash and cash equivalents, end of year
$
148,363
$
28,490
$
34,930
—
$
211,783