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Table of Contents
TIVO INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Fiscal Year Ended January 31,
2010 2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) $ (23,916) $103,592 $(31,591)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment and intangibles 9,160 9,783 10,326
Stock-based compensation expense 25,354 23,420 22,839
Inventory write-down — — 5,892
Loss on inventory barter transaction and utilization of trade credits 90 638 1,331
Allowance for doubtful accounts (7) 471 1,059
Changes in assets and liabilities:
Accounts receivable (2,706) 5,265 (437)
Inventories 917 4,721 3,566
Prepaid expenses and other (2,476) (1,497) 227
Accounts payable 10,282 (14,623) (12,437)
Accrued liabilities (220) (4,530) (9,358)
Deferred revenue (8,175) (21,352) (22,254)
Deferred rent and other long-term liabilities 105 (183) (1,253)
Net cash provided by (used in) operating activities $ 8,408 $105,705 $(32,090)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments (309,370) (49,976) (30,808)
Sales of short-term investments 180,911 20,300 50,200
Purchase of long-term investment (3,400) — —
Acquisition of property and equipment (5,324) (4,549) (7,422)
Acquisition of capitalized software and intangibles (2,031) (319) (375)
Net cash provided by (used in) investing activities $(139,214) $ (34,544) $ 11,595
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock related to exercise of common stock options 37,958 9,240 7,107
Proceeds from issuance of common stock related to employee stock purchase plan 4,116 3,963 3,397
Treasury Stock - repurchase of stock for tax withholding (2,666) (813) (276)
Payment under capital lease obligation (48) (26) —
Net cash provided by financing activities $ 39,360 $ 12,364 $ 10,228
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS $ (91,446) $ 83,525 $(10,267)
CASH AND CASH EQUIVALENTS:
Balance at beginning of period 162,337 78,812 89,079
Balance at end of period $ 70,891 $162,337 $ 78,812
SUPPLEMENTAL DISCLOSURE OF CASH AND NON-CASH FLOW INFORMATION
Cash paid for interest $ 1 $ 53 $ 56
Cash paid/(received) for income taxes (901) 2,037 30
SUPPLEMENTAL DISCLOSURE OF OTHER NON-CASH INVESTING AND FINANCING INFORMATION
Assets acquired under capital lease — 74 —
The accompanying notes are an integral part of these consolidated financial statements.
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