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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating activities:  
Net earnings$ 3,239$ 6,242
Adjustments to reconcile net earnings to net cash provided by operating activities:  
Depreciation8,8688,949
Amortization of credit facility origination fees6753
Stock-based compensation745901
Deferred income taxes320(385)
Loss on extinguishment of debt45 
Changes in assets and liabilities:  
Accounts receivable1,114712
Due from State of Delaware(423)(698)
Inventories(215)(334)
Prepaid expenses and other(1,865)(881)
Receivable from Dover Motorsports, Inc.14(35)
Prepaid income taxes/income taxes payable146(172)
Accounts payable1,083560
Purses due horsemen4311,565
Accrued liabilities(3,976)187
Deferred revenue(42)(46)
Other liabilities(412)(499)
Net cash provided by operating activities9,13916,119
Investing activities:  
Capital expenditures(1,438)(4,556)
Proceeds from the sale of available-for-sale securities12746
Purchase of available-for-sale securities(202)(48)
Net cash used in investing activities(1,513)(4,558)
Financing activities:  
Borrowings from revolving line of credit168,94390,585
Repayments of revolving line of credit(176,028)(103,610)
Dividends paid(2,916)(2,903)
Repurchase of common stock(150)(117)
Credit facility fees(268) 
Net cash used in financing activities(10,419)(16,045)
Net decrease in cash(2,793)(4,484)
Cash, beginning of period18,81921,415
Cash, end of period16,02616,931
Supplemental information:  
Interest paid2,2462,295
Income taxes paid1,9555,024
Change in accounts payable for capital expenditures $ 292