XML 41 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net income $ 30,879 $ 35,126
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation of property and equipment 638 585
Amortization of trademarks and other intangibles 1,458 2,074
Amortization of deferred financing costs 531 561
Amortization of convertible notes discount 7,370 3,843
Stock-based compensation expense 2,598 2,294
Provision for doubtful accounts 300 495
Equity earnings on joint ventures (1,298) (621)
Deferred income tax provision 1,943 5,677
Changes in operating assets and liabilities, net of business acquisitions:    
Accounts receivable (7,086) (6,809)
Other assets - current 5,149 2,912
Other assets 5,703 10,909
Deferred revenue 725 2,137
Accounts payable and accrued expenses 3,337 (4,802)
Net cash provided by operating activities 52,247 54,381
Cash flows used in investing activities:    
Purchases of property and equipment (238) (1,813)
Net distributions to equity partners (4,396) (1,634)
Sale of trademarks 1,490  
Additions to trademarks (253) (29)
Net cash used in investing activities (3,397) (3,476)
Cash flows (used in) provided by financing activities:    
Proceeds from exercise of stock options and warrants 693 1,025
Payment of long-term debt (9,455) (68,885)
Acquisition of interest in MG Icon (4,000) (4,000)
Excess tax benefit from share-based payment arrangements 769 735
Shares repurchased on open market (35,662)  
Deferred financing costs (55)  
Shares repurchased on vesting of restricted stock (651) (1,820)
Net cash used in financing activities (53,964) (73,482)
Net decrease in cash and cash equivalents (5,114) (22,577)
Cash and cash equivalents, beginning of period 167,717 118,635
Cash and cash equivalents, end of period 162,603 96,058
Balance of restricted cash - current 26,894 3,837
Total cash and cash equivalents including current restricted cash, end of period 189,497 99,895
Cash paid during the period:    
Income taxes 228 4,502
Interest 2,247 4,547
Current Assets
   
Cash flows (used in) provided by financing activities:    
Restricted cash (12,823) (537)
Noncurrent Assets
   
Cash flows (used in) provided by financing activities:    
Restricted cash $ 7,220