TiVo 2009 Annual Report Download - page 66

Table of Contents
Net Cash Provided by Financing Activities
For the fiscal year ended January 31, 2010, the principal sources of cash generated from financing activities was related to the issuance of common
stock upon exercise of stock options which generated $38.0 million and the issuance of common stock related to the employee stock purchase plan of $4.1
million. This was partially offset by the repurchase of $2.7 million in restricted stock to satisfy employee tax withholdings.
For the fiscal year ended January 31, 2009, the principal source of cash generated from financing activities related to the issuance of common stock, of
which $9.2 million was related to stock option exercises and $3.9 million related to issuances of stock under our employee stock purchase plan.
Financing Agreements
Universal Shelf Registration Statement. We have an effective universal shelf registration statement on Form S-3 (No. 333-146156) on file with the
Securities and Exchange Commission under which we may issue up to $100,000,000 of securities, including debt securities, common stock, preferred stock,
and warrants. Depending on market conditions, we may issue securities under this or future registration statements or in private offerings exempt from
registration requirements.
Contractual Obligations
Payments due by Period
Contractual Obligations Total
Less
than 1
year 1-3 years 3-5 years
Over 5
years
(In thousands)
Operating leases $ 14,074 $ 2,210 $ 3,779 $ 3,890 $ 4,195
Purchase obligations 7,890 7,890 — — —
Total contractual cash obligations $ 21,964 $ 10,100 $ 3,779 $ 3,890 $ 4,195
Purchase Commitments with Contract Manufacturers and Suppliers. We purchase components from a variety of suppliers and use several contract
manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and
help assure adequate component supply, we enter into agreements with contract manufacturers and suppliers that either allow them to procure inventory based
upon criteria as defined by us or that establish the parameters defining our requirements. In certain instances, these agreements allow us the option to cancel,
reschedule, and adjust our requirements based on our business needs prior to firm orders being placed. The table above displays that portion of our purchase
commitments arising from these agreements that is firm, non-cancelable, and unconditional. If there are unexpected changes to anticipated demand for our
products or in the sales mix of our products, some of the firm, non-cancelable, and unconditional purchase commitments may result in TiVo being committed
to purchase excess inventory. The above table does not include a reserve of $270,000 for excess non-cancelable purchase commitments which is included in
accrued liabilities on our consolidated balance sheet dated January 31, 2010.
As of January 31, 2010, gross unrecognized tax benefits, which if recognized would effect the effective tax rate, were approximately $200,000, which
are classified as long-term liabilities in the consolidated balance sheet. At this time, we are unable to make a reasonably reliable estimate of the timing of
payments in individual years due to uncertainties in the timing of tax audit outcomes; therefore, such amounts are not included in the above contractual
obligation table.
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