XML 65 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
Peanuts Worldwide
Dec. 31, 2010
MG Icon
Dec. 31, 2011
Sharper Image
Dec. 31, 2011
Hardy Way
Dec. 31, 2009
Hardy Way
Dec. 31, 2011
Zoo York brand
Dec. 31, 2011
Current Assets
Dec. 31, 2010
Current Assets
Dec. 31, 2009
Current Assets
Dec. 31, 2011
Noncurrent Assets
Cash flows from operating activities:                          
Net income $ 141,241 $ 110,480 $ 76,031                    
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:                          
Depreciation of property and equipment 2,450 1,800 690                    
Amortization of trademarks and other intangibles 6,988 8,307 7,325                    
Amortization of deferred financing costs 4,309 2,276 2,313                    
Amortization of convertible note discount 23,057 15,021 14,101                    
Stock-based compensation expense 11,742 11,444 8,925                    
Loss on marketable securities   13,000                      
Non-cash gain on sale of trademarks and joint venture interests     (6,601)                    
Non-cash gain on re-measurement of equity investment (21,465)                        
Realization of cash flow hedge   87 201                    
Allowance for doubtful accounts 1,948 2,253 4,312                    
Earnings on equity investments in joint ventures (10,353) (5,492) (3,424)                    
Deferred income tax provision 27,737 13,448 17,137                    
Changes in operating assets and liabilities, net of business acquisitions:                          
Accounts receivable (17,252) 3,638 (19,925)                    
Other assets - current 16,868 (16,002) 4,094                    
Other assets 12,298 (14,872) (3,196)                    
Deferred revenue (10,168) (13,515) 11,791                    
Accounts payable and accrued expenses (11,791) 33,850 9,084                    
Net cash provided by operating activities 177,609 165,723 122,858                    
Cash flows used in investing activities:                          
Purchases of property and equipment (3,242) (3,190) (3,873)                    
Investment in IP Holdings Unltd     (63,500)                    
Payment of accrued expenses related to acquisitions   (1,177) (223)                    
Net distributions (to) from equity partners (8,116) 2,154 2,469                    
Earn-out payment on acquisition   (799) (12,900)                    
Addition to trademarks (568) (88) (145)                    
Net cash used in investing activities (157,526) (179,154) (87,172)                    
Acquisition of interest       (172,054) (4,000) (65,600) (62,000) (9,000) (18,000)        
Cash flows (used in) provided by financing activities:                          
Proceeds from exercise of stock options and warrants 3,312 2,083 3,230                    
Payment of long-term debt (211,784) (81,418) (60,937)                    
Proceeds from long-term debt 292,500                        
Proceeds from sale of warrants 28,800                        
Payment for purchase of convertible note hedge (58,740)                        
Acquisition of interest in MG Icon (4,000)                        
Proceeds from common stock issuance, net     152,798                    
Deferred financing costs (3,381)                        
Excess tax benefit from share-based payment arrangements 4,940 1,301 3,600                    
Shares repurchased on vesting of restricted stock and exercise of stock options (3,185) (2,970) (724)                    
Non-controlling interest contribution 1,800 14,826 2,066                    
Shares repurchased on open market (19,138)   (1,455)                    
Net cash provided by (used in) financing activities 28,999 (63,315) 93,292                    
Restricted cash                   (10,771) 2,863 (5,286) 8,646
Net increase (decrease) in cash and cash equivalents 49,082 (76,746) 128,978                    
Cash and cash equivalents, beginning of year 118,635 195,381 66,403                    
Cash and cash equivalents, end of year 167,717 118,635 195,381                    
Balance of restricted cash - current 14,071 3,300 6,163                    
Total cash and cash equivalents including current restricted cash, end of year 181,788 121,935 201,544                    
Cash paid during the year:                          
Income taxes 40,194 25,785 14,062                    
Interest 22,969 22,554 21,922                    
Acquisitions:                          
Common stock issued 3,210 9,689 23,675                    
MG Icon note payable   $ 16,000