XML 39 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Statement of Cash Flows [Abstract]    
Payments of Financing Costs $ 0 $ 1,500
Cash flows from operating activities:    
Net income 2,690 10,735
Loss from discontinued operations attributable to MDC Partners Inc., net of taxes (4,965) (1,607)
Income from continuing operations 7,655 12,342
Stock-based compensation 9,759 8,796
Adjustments to reconcile net income from continuing operations to cash provided by operating activities:    
Depreciation 9,042 7,842
Amortization of intangibles 17,265 12,557
Amortization of deferred finance charges and debt discount 1,135 1,145
Adjustment to deferred acquisition consideration (9,563) 12,954
Deferred income tax 385 2,165
Earnings of non-consolidated affiliates (455) (142)
Other non-current assets and liabilities 4,042 (11,971)
Foreign exchange 12,274 (306)
Changes in working capital:    
Accounts receivable (58,373) (84,038)
Expenditures billable to clients (6,415) (28,634)
Prepaid expenses and other current assets (10,862) (6,282)
Accounts payable, accruals and other liabilities 79,539 56,562
Advance billings 14,050 42,265
Cash flows provided by continuing operating activities 69,478 25,255
Discontinued operations (995) 894
Net cash provided by operating activities 68,483 26,149
Cash flows used in investing activities:    
Capital expenditures (9,504) (5,700)
Deposits To Acquire Property Plant and Equipment 3,222 6,747
Acquisitions, net of cash acquired (21,027) (41,952)
Proceeds from sale of assets 8 26
Other investments (4,708) (3,450)
Profit distributions from non-consolidated affiliates 2,380 637
Cash flows used in continuing investing activities (36,073) (57,186)
Discontinued operations 18,070 (1,145)
Net cash used in investing activities (18,003) (58,331)
Cash flows used in financing activities:    
Acquisition related payments (107,042) (61,358)
Repayment of long-term debt (269) (206)
Purchase of shares (1,497) (3,541)
Distributions to noncontrolling interests (6,971) (5,184)
Cash overdrafts 7,829 7,619
Payment of dividends (21,155) (18,632)
Proceeds from (Payments for) Other Financing Activities 0 57
Cash flows used in continuing financing activities (129,105) (3,808)
Discontinued operations (40) (40)
Net cash used in financing activities (129,145) (3,848)
Effect of exchange rate changes on cash and cash equivalents 168 (330)
Decrease in cash and cash equivalents (78,497) (36,360)
Cash and cash equivalents at beginning of period 113,348 102,007
Cash and cash equivalents at end of period 34,851 65,647
Supplemental disclosures:    
Cash income taxes paid 715 118
Cash interest paid 25,768 22,623
Change in assets held-in-trust 199,678 6,692
Non-cash transactions:    
Capital leases 42 748
Dividends payable 1,504 1,155
Proceeds from Issuance of Senior Long-term Debt $ 0 $ 78,937