File2.xlsx

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Thousands Beginning of year
Current assets:
Cash and cash equivalents $139,881
Short-term investments 157,390
Prepaid expenses 8,122
Prepaid revenue sharing expenses 18,417
Current content library, net 18,691
Other current assets 16,424
Total current assets 358,925
Content library, net 98,547
Property and equipment, net 124,948
Deferred tax assets 22,409
Other non-current assets 10,595
Total assets 615,424
Current liabilities:
Accounts payable 100,344
Accrued expenses 31,394
Current portion of lease financing obligations 1,152
Deferred revenue 83,127
Total current liabilities 216,017
Long-term debt 0
Lease financing obligations, excluding current portion 37,988
Other non-current liabilities 14,264
Total liabilities 268,269
Stockholders' equity:
Preferred stock, $0.001 par value 0
Common stock, $0.001 par value 62
Additional paid-in capital 338,577
Treasury stock at cost (100,020)
Accumulated other comprehensive income 84
Retained earnings 108,452
Total stockholders' equity 347,155
Total liabilities and stockholders' equity $615,424
Statement Of Cash Flows Indirect (USD $)
In Thousands Current year
Cash flows from operating activities:
Net income $115,860
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, equipment and intangibles 38,044
Amortization of intangible assets 219,490
Amortization of discounts and premiums on investments 607
Amortization of debt issuance costs 1,124
Stock-based compensation expense 12,618
Excess tax benefits from stock-based compensation (12,683)
Loss (gain) on disposal of property and equipment 254
Gain on sale of short-term investments (1,509)
Gain on disposal of intangible assets (7,637)
Gain on sale of investment in business (1,783)
Deferred taxes 6,328
Changes in operating assets and liabilities:
Prepaid expenses and other current assets (11,001)
Content library (64,217)
Accounts payable (2,256)
Accrued expenses 13,169
Deferred revenue 16,970
Other assets and liabilities 1,685
Net cash provided by operating activities 325,063
Cash flows from investing activities:
Purchases of short-term investments (228,000)
Proceeds from sale of short-term investments 166,706
Proceeds from maturities of short-term investments 35,673
Purchases of property and equipment (45,932)
Acquisition of intangible asset (200)
Acquisitions of content library (193,044)
Proceeds from sale of intangible assets 11,164
Investment in business 0
Proceeds from sale of investment in business 7,483
Other assets 71
Net cash used in investing activities (246,079)
Cash flows from financing activities:
Principal payments of lease financing obligations (1,158)
Proceeds from issuance of common stock 35,274
Excess tax benefits from stock-based compensation 12,683
Borrowings on line of credit, net of issuance costs 18,978
Payments on line of credit (20,000)
Proceeds from issuance of debt, net of issuance costs 193,917
Repurchases of common stock (324,335)
Net cash used by financing activities (84,641)
Net decrease in cash and cash equivalents (5,657)
Cash and cash equivalents, beginning of year 139,881
Cash and cash equivalents, end of year 134,224
Supplemental disclosure:
Income taxes paid 58,770
Interest paid $3,878