TiVo 2013 Annual Report Download - page 59

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Table of Contents

  

Net cash provided by operating activities $495,049 $ 47,289 $ 239,201
Net cash used in investing activities $(296,566)$(57,822)$(318,757)
Net cash provided by (used in) financing activities $(101,874)$(1,918)$177,890
Net Cash Provided by Operating Activities
During the fiscal year ended January 31, 2014 our net cash provided by operating activities was $495.0 million as compared to $47.3
million during the same prior year period. This change in operating cash flow as compared to the same prior year period was largely related to
the cash of $490.0 million received from our Motorola/Cisco settlement, which positively impacted our net income of $271.8 million and
increased our deferred revenues by $330.9 million as compared to the same prior year period.
During the fiscal year ended January 31, 2013 our net cash provided by operating activities was $47.3 million as compared to $239.2
million during the same prior year period. This change in operating cash flow was largely attributed to our net loss of $(5.3) million during the
fiscal year ended January 31, 2013, a decrease of $107.5 million as compared to the net income of $102.2 million for the fiscal year ended
January 31, 2012. Additionally, in the fiscal year ended January 31, 2013 we had an increase of cash from deferred revenue of $17.9
million, which is a decrease of $69.8 million as compared to the increase in cash from deferred revenues of $87.7 million during the fiscal
year ended January 31, 2012.
Net Cash Used in Investing Activities
The net cash used in investing activities for the fiscal year ended January 31, 2014 was $296.6 million compared to $57.8 million for
the same prior year period. The net cash used in investing activities for the year ended January 31, 2014 was largely related to TiVo’s cash
management process, and the purchase and sales of short-term investments resulting in a net increase in short term investments of $278.6
million. Additionally, during the fiscal year ended January 31, 2014, we acquired property and equipment of $6.3 million which is used to
support our business. During the quarter ending April 30, 2014, we utilized $135 million in cash for investing activities for our acquisition of
Digitalsmiths.
The net cash used in investing activities for the fiscal year ended January 31, 2013 was $57.8 million compared to $318.8 million for the
same prior year period. The net cash used in investing activities for the year ended January 31, 2013 was largely related to TiVo’s cash
management process, and the purchase and sales of short-term investments resulting in a net decrease in cash and cash equivalents of
$26.6 million(resulting in a corresponding increase in short-term investments). Additionally, during the fiscal year ended January 31, 2013,
we made business acquisitions using $24.5 million and we acquired property and equipment of $6.5 million which is used to support our
business.
Net Cash Provided by (Used in) Financing Activities
For the fiscal year ended January 31, 2014 the principal use of cash for financing activities was related to the repurchase of TiVo stock of
$116.3 million. These repurchases were offset by the issuance of common stock upon exercise of stock options which generated $7.9 million
and issuance of common stock related to the employee stock purchase plan of $6.0 million. We plan to continue to utilize $100 million of our
cash for the repurchase of shares of our stock during the quarter ending April 30, 2014.
For the fiscal year ended January 31, 2013 the principal use of cash for financing activities was related to the repurchase of TiVo stock of
$24.0 million. These repurchases were offset by the issuance of common stock upon exercise of stock options which generated $16.3
million and issuance of common stock related to the employee stock purchase plan of $5.8 million.
Financing Agreements

On August 11, 2011, our board of directors authorized a $100 million discretionary share repurchase program that became effective on
August 29, 2011; on June 9, 2013 we announced that the Board had increased the amount of the discretionary share repurchase program to
$200 million and extended the program's termination date from August 29, 2013 to August 29, 2015. On January 29, 2014 we announced
that the Board had increased the amount of the discretionary share repurchase program to $300 million. As of January 31, 2014 we had
purchased
57