Earthlink 2014 Annual Report Download - page 52

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Table of Contents
The following table presents a reconciliation of Unlevered Free Cash Flow to the most closely related financial measure reported under GAAP
for the years ended December 31, 2012, 2013 and 2014 :
The following table presents a reconciliation of Unlevered Free Cash Flow, as a liquidity measure, to net cash provided by operating activities
for the years ended December 31, 2012, 2013 and 2014 :
47
Year Ended December 31,
2012
2013
2014
(in thousands)
Net income (loss)
7,520
$
(538,827
)
$
(72,752
)
Interest expense and other, net
63,416
60,686
56,261
Income tax provision (benefit)
(1,331
)
211,231
(4,744
)
Depreciation and amortization
183,165
183,114
186,872
Stock-based compensation expense
10,462
13,275
12,600
Impairment of goodwill and long-lived assets —
255,599
14,334
Restructuring, acquisition and integration-related costs
18,244
40,030
20,088
Loss from discontinued operations, net of tax
2,418
1,961
381
Purchases of property and equipment
(147,360
)
(143,614
)
(102,863
)
Unlevered Free Cash Flow
136,534
$
83,455
$
110,177
Year Ended December 31,
2012
2013
2014
(in thousands)
Net cash provided by operating activities
191,055
$
124,156
$
139,995
Income tax provision (benefit)
(1,331
)
211,231
(4,744
)
Non-cash income taxes
107
(212,870
)
(591
)
Interest expense and other, net
63,416
60,686
56,261
Amortization of debt discount, premium and issuance costs
1,945
(2,061
)
(4,104
)
Restructuring, acquisition and integration-related costs
18,244
40,030
20,088
Changes in operating assets and liabilities
7,930
5,662
5,673
Purchases of property and equipment
(147,360
)
(143,614
)
(102,863
)
Other, net
2,528
235
462
Unlevered Free Cash Flow
136,534
$
83,455
$
110,177
Net cash used in investing activities
(163,836
)
$
(112,500
)
$
(102,777
)
Net cash used in financing activities
(81,381
)
$
(52,641
)
$
(19,721
)