Enom 2011 Annual Report Download - page 84

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Demand Media, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(In thousands)
Year ended December 31,
2009 2010 2011
Cash flows from operating activities
Net loss $ (22,471) $ (5,325) $ (18,524)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization 47,115 52,016 68,132
Deferred income taxes 2,208 2,980 3,170
Stock-based compensation 7,171 9,329 28,730
Other (311) 394 321
Change in operating assets and liabilities, net of effect of acquisitions
Accounts receivable (4,172) (8,344) (4,603)
Prepaid expenses and other current assets (437) 124 1,501
Deferred registration costs (3,608) (8,600) (7,882)
Deposits with registries 1,329 (305) (840)
Other assets 1,345 545 522
Accounts payable 1,100 1,237 1,251
Accrued expenses and other liabilities 4,247 6,886 3,598
Deferred revenue 5,715 10,687 9,973
Net cash provided by operating activities 39,231 61,624 85,349
Cash flows from investing activities
Purchases of property and equipment (15,327) (21,404) (18,246)
Purchases of intangible assets (22,701) (47,192) (49,283)
Purchases of marketable securities (48,916) (975) —
Proceeds from maturities and sales of marketable securities 64,069 3,275 —
Cash paid for acquisitions, net of cash acquired (525) — (31,010)
Other investing activities 609 — —
Net cash used in investing activities (22,791) (66,296) (98,539)
Cash flows from financing activities
Proceeds from line of credit 37,000 — —
Payments on line of credit and notes payable (92,000) (10,000) —
Principal payments on capital lease obligations (581) (546) (520)
Proceeds from issuances of common stock (net of issuance costs of $3,336) — — 78,480
Proceeds from exercises of stock options and contributions to ESPP 591 1,552 7,599
Windfall tax benefit from exercises of stock options — 34 126
Repurchases of common stock — — (17,064)
Issuance costs related to debt and equity financings — (1,577) (960)
Payments of withholding tax on net exercise of stock-based awards — — (725)
Net cash provided by (used in) financing activities (54,990) (10,537) 66,936
Effect of foreign currency on cash and cash equivalents 169 (61) (49)
Change in cash and cash equivalents (38,381) (15,270) 53,697
Cash and cash equivalents, beginning of period 85,989 47,608 32,338
Cash and cash equivalents, end of period $ 47,608 $ 32,338 $ 86,035
Supplemental disclosure of cash flows
Cash paid for interest $ 2,129 $ 358 $ 390
Cash paid for income taxes 175 452 960
The accompanying notes are an integral part of these consolidated financial statements.