Nautilus 2015 Annual Report Download - page 38
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Please find page 38 of the 2015 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended December 31,
2015
2014
2013
Cash flows from operating activities:
Income from continuing operations $ 26,803
$ 20,383
$ 48,124
Loss from discontinued operations (201)
(1,588)
(170)
Net income 26,602
18,795
47,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 3,412
4,024
3,344
Bad debt expense 786
104
588
Inventory lower-of-cost-or-market adjustments 1,583
457
557
Stock-based compensation expense 1,484
1,066
454
Loss on asset disposals 313
145
2
Deferred income taxes, net of valuation allowances 11,669
8,007
(32,814)
Excess tax (benefit) deficiency related to stock-based awards (28)
180
145
Changes in operating assets and liabilities, net of effects of acquisition:
Trade receivables (6,812)
(1,331)
(4,417)
Inventories (7,147)
(9,560)
2,388
Prepaids and other current assets 1,365
(314)
(1,174)
Income taxes receivable (389)
30
(91)
Trade payables 4,506
10,456
4,487
Accrued liabilities, including warranty obligations 3,776
2,313
(337)
Net cash provided by operating activities 41,120
34,372
21,086
Cash flows from investing activities:
Proceeds from sale of discontinued operations —
—
116
Proceeds from other asset sales —
—
5
Acquisition of business, net of cash acquired (114,062)
—
—
Purchases of property, plant and equipment and intangible assets (5,734)
(3,181)
(3,590)
Purchases of available-for-sale-securities (61,933)
(37,434)
—
Proceeds from maturities of available-for-sale securities 55,292
10,450
—
Proceeds from sales of available-for-sale securities 3,602
—
—
Net cash used in investing activities (122,835)
(30,165)
(3,469)
Cash flows from financing activities:
Proceeds from long-term debt 80,000
—
—
Proceeds from employee stock purchases 116
—
—
Proceeds from exercise of stock options 1,050
378
357
Tax payments related to stock award issuances (775)
—
—
Excess tax benefit (deficiency) related to stock-based awards 28
(180)
(145)
Payments for stock repurchases (11,567)
—
—
Net cash provided by financing activities 68,852
198
212
Effect of exchange rate changes on cash and cash equivalents (1,565)
(178)
(57)
Increase (decrease) in cash and cash equivalents (14,428)
4,227
17,772
Cash and cash equivalents:
Beginning of year 45,206
40,979
23,207
End of year $ 30,778
$ 45,206
$ 40,979
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net $ (1,308)
$ (923)
$ (450)
Cash paid for interest $ (22)
$ (25)
$ (36)
Supplemental disclosure of non-cash investing activities:
Acquisition consideration owed but not yet paid $ 2,813
$ —
$ —
Capital expenditures incurred but not yet paid $ 1,000
$ 86
$ —