Overstock.com 2008 Annual Report Download - page 85

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Table of Contents
Overstock.com, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Year ended December 31,
2006 2007 2008
Cash flows from operating activities of continuing operations:
Net loss $ (106,762) $ (48,036) $ (12,658)
Adjustments to reconcile net loss to net cash provided by (used in) operating
activities of continuing operations:
Loss from discontinued operations 6,882 3,924 —
Depreciation and amortization, including internal-use software and website
development 32,327 29,495 22,667
Realized loss (gain) on marketable securities (2,085) — 334
Loss on settlement of notes receivable (Note 4) — — 3,929
Loss on disposition of fixed assets 599 1 140
Stock-based compensation to employees and directors 4,120 4,522 4,022
Stock-based compensation to consultants for services 23 189 259
Stock-based compensation relating to performance share plan — (550) (1,000)
Issuance of common stock from treasury for 401(k) matching contribution 787 494 19
Amortization of debt discount 417 344 334
Gain from early extinguishment of debt — — (2,849)
Asset impairment and depreciation (other non-cash restructuring charges) 791 2,169 —
Restructuring charges 4,883 10,114 —
Notes receivable accretion — (272) (545)
Changes in operating assets and liabilities, net of effect of acquisition and
discontinued operations:
Accounts receivable, net (1,470) 4,822 4,769
Inventories, net 67,879 (1,773) 7,920
Prepaid inventory, net 7,388 (1,331) 2,177
Prepaid expenses 1,004 (99) (2,122)
Other long-term assets, net 496 471 (516)
Accounts payable (35,400) 11,849 (8,238)
Accrued liabilities (11,573) (5,908) (12,281)
Deferred revenue 3,401 (255) (3,939)
Other long-term liabilities — (193)(462)
Net cash provided by (used in) operating activities of continuing
operations (26,293)9,977 1,960
Cash flows from investing activities of continuing operations:
Change in restricted cash 253 — —
Purchases of marketable securities — (75,217) (35,548)
Maturities of marketable securities 56,756 29,258 64,542
Sales of marketable securities prior to maturity — — 7,740
Expenditures for fixed assets, including internal-use software and website
development (23,441) (2,643) (18,690)
Proceeds from the sale of discontinued operations, net of cash transferred — 9,892 —
Collection of note receivable — 5,196 1,506
Proceeds from the sale of fixed assets 1 — —
F-6