XML 43 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities      
Net income $ 2,374 $ 17,476 $ 15,631
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,592 6,671 6,018
Loss on sale of assets 80 31 115
Amortization of debt issuance costs and original discount on borrowings 1,211 638 638
Non-cash stock-based compensation 2,103 2,451 2,310
Provision for losses on accounts receivable 420 201 100
Excess tax benefit related to stock option exercises (445) (246) (1,446)
Deferred income taxes 7,231 2,434 1,642
Changes in operating assets and liabilities:      
Notes and accounts receivable (5,995) 5,432 (7,208)
Prepaid assets (1,446) (154) 2,710
Other assets 3,981 (1,389) (1,887)
Accounts payable 9,091 763 (5,098)
Accrued liabilities (21,793) 640 6,009
Net cash provided by operating activities 11,404 34,949 19,534
Investing activities      
Purchase of leasehold improvements and equipment (5,024) (4,150) (2,985)
Proceeds from sale of assets 30 116 5
Acquisitions of business, net of cash acquired 27,736 14 (3,597)
Cost of contracts purchased (1,172) (932) (678)
Capitalized interest (12) (43) (139)
Contingent payments for businesses acquired (332) (262) (340)
Net cash provided by (used in) investing activities 21,226 (5,257) (7,734)
Financing activities      
Proceeds from exercise of stock options 526 217 1,773
Repurchase of common stock   (7,544)  
Earn-out payments (2,073)   (529)
Merger related transactions:      
Payments on senior credit facility Standard Parking (71,800)    
Proceeds from senior credit facility Standard Parking 72,790    
Payment on senior credit facility Central Parking (237,143)    
Proceeds from term loan 250,000    
Payments on term loan (5,625)    
Net payments on senior credit facility (12,590) (15,200) (14,650)
Payment on notes payable (40)    
Payments on other long-term borrowings (145) (136) (128)
Distribution to noncontrolling interest (874) (388) (271)
Payments of debt issuance costs and original discount on borrowings (10,332) (30) (30)
Payments on capital leases (542) (553) (531)
Tax benefit related to stock option exercise 445 246 1,446
Net cash used in financing activities (17,403) (23,388) (12,920)
Effect of exchange rate changes on cash and cash equivalents 3 (390) 169
Increase (decrease) in cash and cash equivalents 15,230 5,915 (951)
Cash and cash equivalents at beginning of year 13,220 7,305 8,256
Cash and cash equivalents at end of year 28,450 13,220 7,305
Cash paid for:      
Interest 18,715 4,015 5,097
Income taxes 3,651 7,507 7,270
Non-cash transactions:      
Fair value of shares issued to acquire Central Parking common stock $ 140,726