THQ 2012 Annual Report Download - page 54

46
THQ INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
Fiscal Year Ended March 31,
2012 2011 2010
OPERATING ACTIVITIES:
Net loss
p
rior to allocation of noncontrollin
g
interest $
(
242,506
)
$
(
136,098
)
$
(
11,952
)
Adjustments to reconcile net loss prior to allocation of noncontrolling interest to
net cash
p
rovided b
y
(
used in
)
o
p
eratin
g
activities:
De
p
reciation and amortization 10,217 11,474 13,592
Amortization of licenses and software develo
p
ment(1) 361,124 257,184 241,240
Loss on dis
p
osal of
p
ro
p
ert
y
and e
q
ui
p
ment 666 24 780
Restructurin
g
char
g
es 6,803 602 5,671
Chan
g
es in deferred net revenue and related ex
p
enses
(
1,263
)
68,557
(
5,023
)
Amortization of debt issuance costs 187 785 529
Amortization of interest
—
808 818
Gain on investments
(
1,795
)
(
3,007
)
(
797
)
Stoc
k
-
b
ased com
p
ensation(2) 5,762 9,115 11,883
Deferred income taxes 3,151
(
741
)
2,532
Chan
g
es in o
p
eratin
g
assets and liabilities:
Accounts receivable, net of allowances 141,253
(
115,653
)
23,460
Inventor
y
12,134
(
17,223
)
12,245
Licenses
(
50,156
)
(
67,744
)
(
41,809
)
Software develo
p
ment
(
171,326
)
(
235,434
)
(
183,610
)
Pre
p
aid ex
p
enses and other current assets 12,123
(
8,335
)
12,009
Accounts
p
a
y
able
(
55,696
)
57,658
(
789
)
Accrued and other liabilities
(
29,209
)
(
24,642
)
(
41,894
)
Deferred net revenue
(
716
)
933
—
Income taxes
(
2,264
)
4,839
(
5,500
)
Net cash
p
rovided b
y
(
used in
)
o
p
eratin
g
activities
(
1,511
)
(
196,898
)
33,385
INVESTING ACTIVITIES:
Proceeds from sales and maturities of available-fo
r
-sale investments
—
151,565 25,776
Proceeds from sales and maturities of tradin
g
investments
—
22,775 8,000
Purchases of available-fo
r
-sale investments
—
(
64,781
)
(
96,559
)
Other lon
g
-term assets 1,850
(
224
)
147
Ac
q
uisitions, net of cash ac
q
uire
d
—
—
(
840
)
Purchases of
p
ro
p
ert
y
and e
q
ui
p
ment
(
6,609
)
(
12,348
)
(
6,308
)
Net cash
p
rovided b
y
(
used in
)
investin
g
activities
(
4,759
)
96,987
(
69,784
)
FINANCING ACTIVITIES:
Proceeds from issuance of common stock to em
p
lo
y
ees 70 1,377 1,174
Pa
y
ment of debt issuance costs
(
1,264
)
—
(
3,646
)
Proceeds from issuance of convertible senior notes
—
—
100,000
Borrowin
g
s on secured credit lines 52,000
—
2,500
Pa
y
ment of secured credit lines
(
52,000
)
(
13,249
)
(
13,610
)
Net cash
p
rovided b
y
(
used in
)
financin
g
activities
(
1,194
)
(
11,872
)
86,418
Effect of exchan
g
e rate chan
g
es on cash
(
2,162
)
9,008 6,501
Net increase
(
decrease
)
in cash and cash e
q
uivalents
(
9,626
)
(
102,775
)
56,520
Cash and cash e
q
uivalents
—
b
e
g
innin
g
of
p
erio
d
85,603 188,378 131,858
Cash and cash e
q
uivalents
—
end of
p
erio
d
$ 75,977 $ 85,603
$ 188,378
Su
pp
lemental cash flow information:
Cash
p
aid durin
g
the
p
eriod for income taxes $ 4,627 $ 3,745
$ 12,580
Cash
p
aid durin
g
the
p
eriod for interest, net of amounts ca
p
italize
d
(3) $
—
$ 26
$ 2,876
________________________________
(1) Amounts exclude amortization of capitalized stock-based compensation expense.
(2) Amounts include the net effects of capitalization and amortization of stock-based compensation expense.
(3) Cash paid during the period for interest is presented net of amounts capitalized of $5.4 million, $5.0 million, and zero, in fiscal 2012, fiscal 2011, and
fiscal 2010, respectively (see "Note 21 - Quarterly Financial Data (Unaudited)").
See notes to consolidated financial statements.