XML 19 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities:    
Net income $ 38,451 $ 35,599
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and other 36,118 48,543
Amortization of intangible assets 3,790 3,353
Share-based payments expense 4,330 3,903
Windfall excess tax benefits related to share-based payments 0 (526)
Deferred income taxes (7,822) (2,547)
Restructuring, impairment and related costs [1] 361 1,680
Loss from equity method investments, net 207 132
Amortization of deferred financing fees and debt discount 638 693
Gain from early extinguishment of debt (11,028) 0
Other (36) (1,198)
Cash flows from changes in operating assets and liabilities:    
Accounts receivable, net 6,863 11,823
Content library 33,126 9,956
Prepaid expenses and other current assets 6,022 (3,106)
Other assets 163 168
Accounts payable (35,405) 2,920
Accrued payable to retailers (24,646) (18,441)
Other accrued liabilities 16,073 13,120
Net cash flows from (used in) operating activities [2] 67,205 106,072 [3]
Investing Activities:    
Purchases of property and equipment (13,453) (20,709)
Proceeds from sale of property and equipment 74 123
Net cash flows from (used in) investing activities [2] (13,379) (20,586) [3]
Financing Activities:    
Proceeds from new borrowing on Credit Facility 85,000 35,000
Principal payments on Credit Facility (108,313) (116,875)
Repurchases of notes (Note 7) (45,328) 0
Repurchases of common stock 0 (40,708)
Dividends paid (5,038) (5,602)
Principal payments on capital lease obligations and other debt (1,626) (3,245)
Windfall excess tax benefits related to share-based payments 0 526
Withholding tax paid on vesting of restricted stock net of proceeds from exercise of stock options (1,425) (3,088)
Net cash flows from (used in) financing activities [2] (76,730) (133,992) [3]
Effect of exchange rate changes on cash (795) 3,744
Change in cash and cash equivalents (23,699) (44,762)
Cash and cash equivalents:    
Beginning of period 222,549 242,696
End of period 198,850 197,934
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 12,050 11,913
Cash paid during the period for income taxes, net 2,061 12,991
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment financed by capital lease obligations 1,756 720
Purchases of property and equipment included in ending accounts payable 2,462 2,025
Additional cash flow information    
Restructuring, impairment and related costs [1] 361 1,680
Impairment of lease related assets $ 0 6,940
Benefit from lease termination   $ 5,200
[1] The non-cash restructuring, impairment and related costs in the three months ended March 31, 2015 of $1.7 million is composed of $6.9 million in impairments of lease related assets partially offset by a $5.2 million benefit resulting from the lease termination.
[2] During the first quarter of 2015 we discontinued our Redbox operations in Canada. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in all periods presented. See Note 10: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.
[3] During the first quarter of 2015 we discontinued our Redbox operations in Canada. Cash flows from these discontinued operations are not segregated from cash flows from continuing operations in all periods presented. See Note 10: Discontinued Operations for cash flow disclosures related to our discontinued Redbox operations in Canada.