Lifetime Fitness 2011 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2011 Lifetime Fitness 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.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

46
LIFE TIME FITNESS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization
Deferred income taxes
Loss on disposal of property and equipment, net
Gain on sale of land held for sale
Amortization of deferred financing costs
Share-based compensation
Excess tax benefit related to share-based payment arrangements
Changes in operating assets and liabilities
Other
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
Acquisitions, net of cash acquired
Proceeds from sale of property and equipment
Proceeds from sale of land held for sale
Proceeds from property insurance settlement
(Increase) decrease in other assets
Decrease in restricted cash
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from (repayments of) revolving credit facility, net
Increase in deferred financing costs
Excess tax benefit related to share-based payment arrangements
Proceeds from stock option exercises
Proceeds from employee stock purchase plan
Stock purchased for employee stock purchase plan
Net cash provided by (used in) financing activities
(DECREASE) INCREASE IN CASH AND CASH
EQUIVALENTS
CASH AND CASH EQUIVALENTS – Beginning of period
CASH AND CASH EQUIVALENTS – End of period
For the Year Ended December 31,
2011
(In thousands)
$ 92,617
98,843
5,557
1,779
—
2,269
19,767
(3,537)
10,277
371
227,943
(165,335)
(70,264)
794
—
464
(92)
1,484
(232,949)
—
(79,192)
77,800
(4,989)
3,537
3,162
1,061
(1,113)
266
(4,740)
12,227
$ 7,487
2010
$ 80,692
92,313
6,162
2,001
(527)
2,706
12,835
(2,453)
(1,207)
(257)
192,265
(131,671)
(16,659)
851
1,019
—
(2,943)
369
(149,034)
—
(40,394)
(3,900)
(499)
2,453
5,142
907
(995)
(37,286)
5,945
6,282
$ 12,227
2009
$ 72,384
90,770
23,270
1,229
(1,132)
2,544
8,082
(507)
(10,951)
514
186,203
(146,632)
—
8
1,954
—
390
995
(143,285)
18,151
(11,001)
(56,500)
(1,092)
507
2,470
—
—
(47,465)
(4,547)
10,829
$ 6,282
See notes to consolidated financial statements.