VMware 2012 Annual Report Download - page 70

Download and view the complete annual report

Please find page 70 of the 2012 VMware annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 170

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170

VMware, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
The accompanying notes are an integral part of the consolidated financial statements.
For the Year Ended December 31,
2012
2011
2010
Operating activities:
Net income
$
745,702
$
723,936
$
357,439
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
354,868
315,871
260,551
Stock-based compensation, excluding amounts capitalized
425,995
335,153
291,691
Excess tax benefits from stock-based compensation
(138,139
)
(224,503
)
(223,457
)
Gain on sale of Terremark investment
—
(
56,000
)
—
Other
2,355
21,420
13,083
Changes in assets and liabilities, net of acquisitions:
Accounts receivable
(267,639
)
(263,366
)
(77,121
)
Other assets
(112,266
)
(75,879
)
(79,431
)
Due to/from EMC, net
5,865
(18,370
)
(28,508
)
Accounts payable
23,692
(16,513
)
8,881
Accrued expenses
21,997
115,025
120,880
Income taxes receivable from EMC
19,488
269,258
2,508
Income taxes payable
138,508
79,183
89,439
Deferred income taxes, net
(74,060
)
(19,663
)
(56,948
)
Unearned revenues
751,158
840,081
495,382
Net cash provided by operating activities
1,897,524
2,025,633
1,174,389
Investing activities:
Additions to property and equipment
(234,458
)
(230,091
)
(131,695
)
Purchase of leasehold interest (see Note G)
—
(
151,083
)
—
Capitalized software development costs
—
(
73,998
)
(64,149
)
Purchases of available-for-sale securities
(3,188,684
)
(2,667,888
)
(2,101,907
)
Sales of available-for-sale securities
1,880,545
816,351
389,251
Maturities of available-for-sale securities
901,743
974,413
127,054
Sale of strategic investments
—
78,513
2,648
Business acquisitions, net of cash acquired
(1,344,214
)
(303,610
)
(292,970
)
Transfer of net assets under common control
—
(
22,393
)
(185,580
)
Other investing
(49,552
)
(31,187
)
(4,594
)
Net cash used in investing activities
(2,034,620
)
(1,610,973
)
(2,261,942
)
Financing activities:
Proceeds from issuance of common stock
253,159
337,618
431,306
Repurchase of common stock
(467,534
)
(526,203
)
(338,527
)
Excess tax benefits from stock-based compensation
138,139
224,503
223,457
Shares repurchased for tax withholdings on vesting of restricted stock
(133,102
)
(123,787
)
(86,179
)
Net cash provided by (used in) financing activities
(209,338
)
(87,869
)
230,057
Net increase (decrease) in cash and cash equivalents
(346,434
)
326,791
(857,496
)
Cash and cash equivalents at beginning of the period
1,955,756
1,628,965
2,486,461
Cash and cash equivalents at end of the period
$
1,609,322
$
1,955,756
$
1,628,965
Supplemental disclosures of cash flow information:
Cash paid for interest
$
6,772
$
5,806
$
6,194
Cash paid (refunded) for taxes, net
55,766
(268,954
)
23,428
Non-cash items:
Changes in capital additions, accrued but not paid
$
36,562
$
11,736
$
(1,338
)
Changes in tax withholdings on vesting of restricted stock, accrued but not paid
2,346
(1,870
)
—
Fair value of stock options assumed in acquisition
16,625
—
—