STATEMENTS OF CASH FLOWS

9 Months Ended

Sep. 30, 2011

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS

(4) STATEMENTS OF CASH FLOWS

Supplemental disclosures of cash flow information for the nine months ended September 30 (in thousands):

	2011		2010
Cash paid during the period for:
Interest	$	23,839	$	29,697
Income taxes	177		—

For the nine months ended September 30, 2011, the Company recorded an adjustment to the fair value of the interest rate swap resulting in a $2.7 million decrease in Accrued Liabilities and Other Long-Term Liabilities and in the statement of operations as a non-cash gain on derivative instruments of $2.7 million.

For the nine months ended September 30, 2010, the Company recorded an adjustment to the fair value of the interest rate swap resulting in an $0.8 million increase in Other Long-Term Liabilities and a $0.1 million increase in Other Comprehensive Loss and a $0.7 million non-cash loss in the statement of operations for the ineffective portion.

In June 2010, the Company recorded an adjustment of $0.1 million to the current portion of Long-term Debt, related to the Powerboat Magazine acquisition in May 2005, to write-off the remaining contingency to amortization expense as the contingency was resolved and resulted in no final payment.