United states securities and exchange commission


LIONS GATE ENTERTAINMENT CORP



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LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS









































 

Year Ended

 

Year Ended

 

Year Ended

 

March 31,
2012


 

March 31,
2011


 

March 31,
2010


 

 

 

As adjusted (Note 7)

 

As adjusted

(Note 7)

 

(Amounts in thousands)

Operating Activities:

 

 

 

 

 

Net loss

$

(39,118

)

 

$

(30,381

)

 

$

(30,272

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

 

 

Depreciation of property and equipment

3,023




 

4,837




 

7,526




Amortization of intangible assets

1,253




 

974




 

4,929




Amortization of films and television programs

603,660




 

529,428




 

511,658




Amortization of debt discount (premium) and deferred financing costs

15,681




 

16,301




 

19,701




Accreted interest payment from equity method investee TV Guide






 

10,200




 






Non-cash stock-based compensation

9,957




 

29,204




 

17,875




Gain on sale of asset disposal group

(10,967

)

 






 






Loss (gain) on extinguishment of debt

967




 

14,505




 

(5,675

)

Equity interests (income) loss

(8,412

)

 

20,712




 

38,995




Changes in operating assets and liabilities:

 

 

 

 

 

Restricted cash

37,636




 

(43,067

)

 

(187

)

Accounts receivable, net

(256,208

)

 

(64,203

)

 

(79,392

)

Investment in films and television programs

(690,304

)

 

(487,391

)

 

(471,087

)

Other assets

1,298




 

(298

)

 

(4,443

)

Accounts payable and accrued liabilities

29,558




 

3,869




 

(22,769

)

Participations and residuals

19,813




 

(1,369

)

 

(69,574

)

Film obligations

87,726




 

19,154




 

(48,786

)

Deferred revenue

30,969




 

19,852




 

(3,459

)

Net Cash Flows Provided By (Used In) Operating Activities

(163,468

)

 

42,327




 

(134,960

)

Investing Activities:

 

 

 

 

 

Purchases of restricted investments






 

(13,993

)

 

(13,994

)

Proceeds from the sale of restricted investments






 

20,989




 

13,985




Purchase of Summit, net of unrestricted cash acquired of $315,932 (see Note 15)

(553,732

)

 






 






Buy-out of the earn-out associated with the acquisition of Debmar-Mercury, LLC






 

(15,000

)

 






Proceeds from the sale of asset disposal group, net of transaction costs, and cash disposed of $3,943 (see Note 15)

9,119




 






 






Investment in equity method investees

(1,030

)

 

(24,677

)

 

(47,129

)

Increase in loans receivable

(4,671

)

 

(1,042

)

 

(1,418

)

Repayment of loans receivable






 

8,113




 

8,333




Purchases of property and equipment

(1,885

)

 

(2,756

)

 

(3,684

)

Net Cash Flows Used In Investing Activities

(552,199

)

 

(28,366

)

 

(43,907

)

Financing Activities:

 

 

 

 

 

Exercise of stock options

3,520




 






 






Tax withholding requirements on equity awards

(4,320

)

 

(13,476

)

 

(2,030

)

Repurchase of common shares

(77,088

)

 






 






Proceeds from the issuance of mandatorily redeemable preferred stock units and common stock units related to the sale of 49% interest in TV Guide Network, net of unrestricted cash deconsolidated






 






 

109,776




Borrowings under senior revolving credit facility

390,650




 

525,250




 

302,000




Repayments of borrowings under senior revolving credit facility

(360,650

)

 

(472,500

)

 

(540,000

)

Borrowings under individual production loans

276,886




 

118,589




 

144,741




Repayment of individual production loans

(207,912

)

 

(147,102

)

 

(136,261

)

Production loan borrowings under Pennsylvania Regional Center credit facility






 






 

63,133




Production loan borrowings under film credit facility

54,325




 

19,456




 

30,469




Production loan repayments under film credit facility

(30,813

)

 

(34,762

)

 

(2,718

)

Change in restricted cash collateral associated with financing activities






 

3,087




 






Proceeds from Term Loan associated with the acquisition of Summit, net of debt discount of $7,500 and deferred financing costs of $16,350

476,150




 






 






Repayments of borrowings under Term Loan associated with the acquisition of Summit

(15,066

)

 






 






Proceeds from sale of senior secured second-priority notes, net of deferred financing costs

201,955




 






 

214,727




Repurchase of senior secured second-priority notes

(9,852

)

 






 






Proceeds from the issuance of convertible senior subordinated notes

45,000




 






 






Repurchase of convertible senior subordinated notes

(46,059

)

 






 

(75,185

)

Repayment of other financing obligations






 






 

(134

)

Net Cash Flows Provided By (Used In) Financing Activities

696,726




 

(1,458

)

 

108,518




Net Change In Cash And Cash Equivalents

(18,941

)

 

12,503




 

(70,349

)

Foreign Exchange Effects on Cash

(3,180

)

 

4,674




 

1,116




Cash and Cash Equivalents - Beginning Of Period

86,419




 

69,242




 

138,475




Cash and Cash Equivalents - End Of Period

$

64,298




 

$

86,419




 

$

69,242






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