Stamps.com 2002 Annual Report Download - page 48

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Table of Contents
STAMPS.COM INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31,
2002 2001 2000
(in thousands)
Operating Activities
Net Loss $ (6,847 ) $ (209,573 ) $ (212,949 )
Adjustments to reconcile net loss to net cash used in operating activities
Provision for doubtful accounts — 613 4,029
Depreciation and amortization 6,382 17,708 54,938
Write-down of goodwill and other intangibles — 163,634 —
Amortization of deferred compensation 291 2,521 10,832
Charge for acquired in-process research and development — — 2,000
Loss on disposal and writedown of assets — 25,974 2,756
Loss on sale of iShip — 9,397 —
Net gain on shut down of EncrypTix — (23,195 ) —
Changes in operating assets and liabilities, net of acquisition of iShip
Accounts receivable 1,025 (67 ) (3,095 )
Note receivable from former officer — — (6,527 )
Prepaid expenses 147 4,421 18,698
Other assets 3,010 1,054 (4,762 )
Accounts payable (62 ) (3,592 ) (1,435 )
Accrued expenses (2,552 ) (14,313 ) 10,601
Minority interest — (11,570 ) —
Deferred revenue — (1,809 ) 1,627
Net cash provided by (used in) operating activities 1,394 (38,797 ) (123,287 )
Investing activities
Sale (purchase) of short term investments, net 44,997 97,846 (126,467 )
Sale (purchase) of restricted cash investments 2,958 (2,757 ) (4,010 )
Proceeds from sale of iShip — 2,800 —
Purchase of long term investments, net (64,525 ) (7,533 ) —
Purchase of intellectual property (38 ) (7,500 ) —
Capital expenditures (282 ) (4,132 ) (30,701 )
Acquisition of iShip.com, net of cash acquired — — (2,111 )
Net cash provided by (used in) investing activities (16,890 ) 78,724 (163,289 )
Financing activities
Repayment of capital lease obligations (98 ) (9,016 ) (7,938 )
Issuance of preferred stock by subsidiary, net — — 34,765
Issuance of common stock under ESPP 74 408 920
Repurchase of common stock (23,106 ) — —
Proceeds from exercise of stock options 1,698 848 1,545
Net cash provided by (used in) financing activities (21,432 ) (7,760 ) 29,292
2003. EDGAR Online, Inc.