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CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income$ 37,891$ 17,935
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation23,04914,218
Amortization of debt issuance costs959468
Amortization of intangible assets1,0251,034
Impairment of container rental equipment1540
Stock-based compensation expense895796
(Gain) loss on foreign exchange(513)763
Gain on sale of container portfolios(2,345)(614)
Gain on disposition of used container equipment(10,151)(5,760)
Reduction of income tax reserve0(2,109)
Deferred income taxes5970
Restructuring charges0107
Bad debt (recovery) expense(895)929
Accounts receivable(1,657)(5,122)
Prepaid expenses and other assets1,0383,687
Accounts payable, accrued expenses and other current liabilities1,364(5,052)
Due to container investors(472)3,281
Unearned revenue953426
Net cash provided by operating activities51,75325,027
Cash flows from investing activities  
Purchase of containers(386,275)(104,174)
Net proceeds from sale of container portfolios24,88612,367
Net proceeds from disposition of used container equipment23,42623,305
Purchase of furniture, fixtures and equipment(107)(812)
Receipt of principal payments from direct financing leases4,4474,049
Net cash used in investing activities(333,623)(65,265)
Cash flows from financing activities  
Stock issuance costs(139)0
Proceeds from bank debt338,30067,800
Principal payments on capital leases(3,689)(2,726)
Principal payments made on bank debt(51,981)(43,200)
Principal payments on related party term loan(600)(600)
Contributions from non-controlling interest017,634
Debt issuance costs(1,499)(1,737)
Net cash provided by financing activities280,39237,171
Effect on cash of foreign currency translation234(206)
Net decrease in cash(1,244)(3,273)
Cash at beginning of the period14,39314,492
Cash at end of the period13,14911,219
Cash paid during the period for:  
Income taxes5,5991,075
Interest8,0512,348
Supplemental disclosure of non-cash investing and financing activity  
Transfer of container rental equipment to direct finance lease27,2955,832
Transfer of container rental equipment off direct finance lease01,255
Container equipment purchase funded by offset to accounts receivable$ 0$ 1,764