Expedia 2009 Annual Report Download - page 118

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Expedia, Inc.
Notes to Consolidated Financial Statements — (Continued)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Year Ended December 31, 2008
Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Consolidated
(In thousands)
Operating activities:
Net cash provided by operating activities .............. $ — $241,282 $ 279,406 $ 520,688
Investing activities:
Capital expenditures, including internal-use software
and website development ...................... — (133,842) (25,985) (159,827)
Acquisitions, net of cash acquired ................. — — (538,439) (538,439)
Purchase of short-term investments ................ — — (92,923) (92,923)
Net settlement of foreign currency forwards ......... — (55,175) — (55,175)
Reclassification of Reserve Primary Fund holdings .... — (80,360) — (80,360)
Distribution from Reserve Primary Fund ............ — 64,387 — 64,387
Other, net .................................... — (157) 2,936 2,779
Net cash used in investing activities .................. — (205,147) (654,411) (859,558)
Financing activities:
Credit facility borrowings ........................ — 740,000 — 740,000
Credit facility repayments ........................ — (675,000) — (675,000)
Proceeds from issuance of long-term debt, net of
issuance costs ............................... 392,348 — — 392,348
Transfers (to) from related parties ................. (386,108) 115,955 270,153 —
Other, net .................................... (6,240) 12,035 1,658 7,453
Net cash provided by financing activities .............. — 192,990 271,811 464,801
Effect of exchange rate changes on cash and cash
equivalents ................................. — (69,983) (7,922) (77,905)
Net increase (decrease) in cash and cash equivalents . . — 159,142 (111,116) 48,026
Cash and cash equivalents at beginning of year ......... — 379,199 238,187 617,386
Cash and cash equivalents at end of year ............ $ — $538,341 $ 127,071 $ 665,412
F-46