Nautilus 2008 Annual Report Download - page 48

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Table of Contents
NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)
(Concluded)
See accompanying notes to consolidated financial statements.
44
Years Ended December 31,
2008
2007
2006
Cash flows from investing activities:
Purchases of property, plant and equipment
$
(4,515
)
$
(10,689
)
$
(10,877
)
Proceeds from sale of assets
1,379
6,125
7,143
Expenditures related to terminated purchase agreement with Land America
—
(
21,879
)
—
Refund of escrow deposit from Land America
5,000
—
—
Purchases of intangible assets
(285
)
—
(
8,455
)
Net increase in other assets
—
—
(
2,253
)
Proceeds from notes receivable
2,364
77
35
Net cash provided by (used in) investing activities from continuing operations
3,943
(26,366
)
(14,407
)
Net cash provided by (used in) investing activities from discontinued operations
58,411
(1,027
)
(720
)
Net cash provided by (used in) investing activities
62,354
(27,393
)
(15,127
)
Cash flows from financing activities:
Cash dividends paid on common stock
—
(
9,465
)
(12,913
)
Proceeds from exercise of stock options
563
756
603
Stock option income tax benefits (deficiencies)
(1,174
)
111
48
Stock repurchases
(5,320
)
—
(
16,653
)
Increase (decrease) in short
-
term borrowings
(61,056
)
31,500
7,353
Debt issuance costs
(1,954
)
—
—
Principal payments on long
-
term debt
—
—
(
1,341
)
Net cash provided by (used in) financing activities from continuing operations
(68,941
)
22,902
(22,903
)
Net cash used in financing activities from discontinued operations
(174
)
(178
)
(559
)
Net cash provided by (used in) financing activities
(69,115
)
22,724
(23,462
)
Net effect of foreign currency exchange rate changes on continuing operations
(1,303
)
(186
)
1,061
Net effect of foreign currency exchange rate changes on discontinued operations
130
—
—
Net increase (decrease) in cash and cash equivalents
(2,364
)
3,649
(3,722
)
Cash and cash equivalents, beginning of year
7,911
4,262
7,984
Cash and cash equivalents, end of year
$
5,547
$
7,911
$
4,262
Supplemental disclosure of cash flow information
-
Cash refunded (paid) for income taxes
$
9,025
$
(8,859
)
$
(10,594
)
Cash paid for interest
$
2,677
$
4,245
$
2,128