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Table of Contents
25 VONAGE ANNUAL REPORT 2014
For the years ended December 31,
(dollars in thousands) 2014 (1) 2013 (2) 2012 2011 2010
Statement of Cash Flow Data:
Net cash provided by operating activities $92,542 $88,243 $ 119,843 $ 146,786 $194,212
Net cash used in investing activities (118,528)(120,985) (25,472) (37,604) (4,686)
Net cash provided by (used in) financing activities (14,239) 21,891 (56,257) (130,138)(143,762)
December 31,
(dollars in thousands) 2014 (1) 2013 (2) 2012 2011 2010
Balance Sheet Data:
Cash, cash equivalents and marketable securities $47,959 $84,663 $97,110 $58,863 $78,934
Property and equipment, net 49,630 52,243 60,533 67,978 79,050
Goodwill and intangible assets, net 251,169 160,477 6,681 9,056 4,186
Total deferred tax assets, including current portion, net 248,939 264,900 306,113 325,601 —
Restricted cash 3,405 4,405 5,656 6,929 7,978
Total assets 675,302 642,749 547,389 566,215 260,392
Total notes payable and indebtedness under revolving credit
facility, including current portion 157,000 121,666 42,500 70,833 193,004
Capital lease obligations 10,201 13,090 15,561 17,665 19,448
Total liabilities 331,805 304,713 225,974 266,648 390,039
Total stockholders’ equity (deficit) 343,497 338,074 321,415 290,567 (129,647)
(1) The year ended December 31, 2014 includes the impact of the acquisition of Telesphere Networks Ltd., which was completed in the
fourth quarter.
(2) The year ended December 31, 2013 includes the impact of the acquisition of Vocalocity Inc., which was completed in the fourth quarter.
(3) Excludes depreciation and amortization of $19,330 for 2014, $14,892 for 2013, $15,115 for 2012, $15,824 for 2011, and $18,725 for
2010.
(4) Reflects amounts reclassified from selling, general and administrative expense to cost of telephony services of $23,582 for 2013,
$27,347 for 2012, $31,189 for 2011, and $33,959 and 2010.