XML 22 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities:      
Net loss $ (59,524) $ (5,149) $ (35,525)
Adjustments to reconcile to net cash used in operating activities:      
Depreciation 190 74 92
Amortization of debt discount 1,184 1,085 995
Equity loss 39,599 15,335 12,607
Other (income) loss, net (217) (31,657) (383)
Stock-based compensation expense 1,611 1,935 1,821
Changes in assets and liabilities:      
Accounts receivable, net (923) (369) (1,194)
Accounts payable, accrued expenses, and other 331 (1,443) 366
Net cash used in operating activities (17,749) (20,189) (21,221)
Cash Flows from Investing Activities:      
Acquisitions of ownership interests in companies (70,186) (59,476) (41,838)
Proceeds from sales of and distributions from companies 25,058 82,822 38,974
Advances and loans to companies (15,208) (10,968) (10,464)
Repayment of advances and loans to companies 1,318 4,684 1,651
Increase in marketable securities (29,755) (55,594) (69,883)
Decrease in marketable securities 33,640 55,410 165,379
Capital expenditures (1,856) (59) (37)
Proceeds from sale of discontinued operations, net 0 0 6,434
Other, net 0 137 42
Net cash provided by (used in) investing activities (56,989) 16,956 90,258
Cash Flows from Financing Activities:      
Repurchase of convertible senior debentures 0 (441) (43)
Issuance of Company common stock, net 676 1,289 4,417
Repurchase of Company common stock (4,997) (25,036) (122)
Net cash provided by (used in) financing activities (4,321) (24,188) 4,252
Net change in cash and cash equivalents (79,059) (27,421) 73,289
Cash and cash equivalents at beginning of period 111,897 139,318 66,029
Cash and cash equivalents at end of period $ 32,838 $ 111,897 $ 139,318