GARTNER INC - 10-Q - 20051109 - CASH_FLOW
GARTNER, INC.
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)
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Nine Months Ended
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September 30,
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2005
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2004
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Operating activities:
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Net (loss) income
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$
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(17,247
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)
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$
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11,652
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Adjustments to reconcile net (loss) income to net cash provided by
operating activities:
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Depreciation and amortization of intangibles
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25,565
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21,960
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Non-cash compensation
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661
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1,273
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Tax benefit associated with employees’ exercise of stock options
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983
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8,262
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Deferred taxes
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(5,631
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)
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409
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Loss (gain) from investments
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5,339
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2,145
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Amortization and writeoff of debt issue costs
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1,228
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744
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Charge for stock option buyback
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5,980
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—
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Goodwill impairments
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—
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739
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Non-cash charges associated with impairment of long-lived
assets
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—
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2,943
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Changes in assets and liabilities, excluding effect of acquisition
and sale of investment:
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Fees receivable, net
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41,412
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49,352
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Deferred commissions
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4,888
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698
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Prepaid expenses and other current assets
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(9,246
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)
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(6,215
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)
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Other assets
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3,572
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(1,320
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)
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Deferred revenues
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(4,046
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)
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(14,107
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)
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Accounts payable and accrued liabilities
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(25,858
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)
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(32,261
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)
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Cash provided by operating activities
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27,600
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46,274
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Investing activities:
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Proceeds from sale of investment
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1,300
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—
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Additions to property, equipment and leasehold improvements
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(11,252
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)
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(19,036
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)
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Acquisition of META (net of cash acquired)
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(161,323
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)
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—
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Other investing activities, net
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614
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—
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Cash used in investing activities
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(170,661
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)
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(19,036
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)
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Financing activities:
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Proceeds from stock issued for stock plans
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14,226
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56,472
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Proceeds from debt issuance
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327,000
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200,000
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Payments for debt issuance costs
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(1,082
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)
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(2,821
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)
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Payments on debt
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(267,958
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)
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—
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Purchases of stock options via tender offer, including costs
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(4,532
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)
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—
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Purchases of stock via tender offer, including costs
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—
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(346,148
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)
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Purchases of treasury stock
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—
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(6,114
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)
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