LeapFrog 2013 Annual Report Download - page 38
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Please find page 38 of the 2013 LeapFrog annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Cash Sources and Uses
The table below shows our sources and uses of cash for the fiscal years ended December 31, 2013, 2012 and
2011.
2013 2012 2011
% Change
2013 vs. 2012
% Change
2012 vs. 2011
(Dollars in millions)
Cash flows provided by (used in):
Operating activities .......... $76.1 $ 67.9 $ 70.2 12% (3)%
Investing activities .......... $(32.2) $(22.6) $(19.9) (42)% (14)%
Financing activities .......... $ 4.6 $ 2.5 $ 2.2 88% 10%
Effect of exchange rate
fluctuations on cash ........ $ (0.5) $ 0.4 $ (0.1) (215)% (850)%
Increase in cash and cash
equivalents ........... $48.1 $ 48.1 $ 52.4 —% (8)%
Fiscal Year 2013 Compared to Fiscal Year 2012
Cash flow provided by operations for 2013 increased $8.2 million compared to 2012, primarily driven by an
increase in cash provided by accounts receivable collection, partially offset by reduced net income related to
operating activities, a lower accounts payable balance attributable to timing and volume of purchases, higher
inventory levels and higher incentive compensation payouts.
Net cash used in investing activities for 2013 increased $9.6 million compared to 2012, primarily due to an
increase in computer hardware and software purchases to upgrade our information technology capabilities.
Net cash provided by financing activities for 2013 increased $2.1 million as compared to 2012, due to
increases in stock option exercises and employee stock purchase plan purchases, partially offset by lower
payroll taxes related to a decrease in employee restricted stock units released in 2013 as compared to 2012.
Fiscal Year 2012 Compared to Fiscal Year 2011
Cash flow provided by operations for 2012 decreased $2.3 million compared to 2011, primarily driven by an
increase in accounts receivable due to higher sales, lower accounts payable, and increased inventory purchases
to support expected sales demand. The increase in net income partially offset the decrease in cash flow
provided by operations for 2012.
Net cash used in investing activities for 2012 increased $2.7 million compared to 2011, primarily due to an
increase in hardware and software purchases, partially offset by the cash generated from sales of investments
in 2012, of which there were none in 2011.
Net cash provided by financing activities for 2012 increased $0.3 million as compared to 2011, primarily due
to an increase in employee stock purchase plan purchases, partially offset by higher payroll taxes related to an
increase in employee restricted stock units released in 2012 as compared to 2011.
Seasonal Patterns of Cash Provided by (Used in) Operations
The table below shows our seasonal patterns of cash flow provided by (used in) operations by quarter for the
fiscal years ended December 31, 2013, 2012 and 2011.
2013 2012 2011
(Dollars in millions)
1
st
quarter ...................................... $77.5 $ 66.0 $ 64.6
2
nd
quarter ..................................... 1.8 (4.7) (16.6)
3
rd
quarter ..................................... (97.4) (72.8) (27.4)
4
th
quarter ..................................... 94.2 79.4 49.6
Total ....................................... $76.1 $ 67.9 $ 70.2
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