DigitalGlobe, Inc. Unaudited Condensed Consolidated Balance Sheets June 30, December 31, (in millions, except share data) 2012 2011 ------------- ------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 212.4 $ 198.5 Restricted cash 7.8 7.7 Accounts receivable, net of allowance for doubtful accounts of $2.8 and $3.6, respectively 47.5 50.7 Prepaid and current assets 20.3 19.6 Deferred taxes 67.1 65.1 ------------- ------------- Total current assets 355.1 341.6 Property and equipment, net of accumulated depreciation of $619.5 and $563.9, respectively 1,076.2 1,019.8 Goodwill 8.7 8.7 Aerial image library, net of accumulated amortization of $29.1 and $25.1, respectively 17.8 13.0 Long-term restricted cash 7.8 9.8 Long-term deferred contract costs 39.4 44.7 Other assets 12.8 14.0 ------------- ------------- Total assets $ 1,517.8 $ 1,451.6 ------------- ------------- LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 14.9 $ 19.7 Accrued interest 0.2 0.2 Current note payable 5.0 5.0 Other accrued liabilities 50.6 37.5 Current portion of deferred revenue 37.8 36.6 ------------- ------------- Total current liabilities 108.5 99.0 Long-term accrued liability - 1.4 Deferred revenue 349.1 319.3 Deferred lease incentive 2.7 3.3 Long-term debt, net of discount 480.1 481.6 Long-term deferred tax liability, net 71.7 59.6 ------------- ------------- Total liabilities $ 1,012.1 $ 964.2 ------------- ------------- COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Preferred stock, $0.001 par value; 24,000,000 shares authorized; no shares issued and outstanding at June 30, 2012 and December 31, 2011 - - Common stock, $0.001 par value; 250,000,000 shares authorized; 46,748,615 shares issued and outstanding at June 30, 2012 and 46,320,471 shares issued and outstanding at December 31, 2011 0.2 0.2 Treasury stock, at cost; 80,956 shares at June 30, 2012 and 66,175 shares at December 31, 2011 (1.4) (1.2) Additional paid-in capital 535.1 530.0 Accumulated deficit (28.2) (41.6) ------------- ------------- Total stockholders' equity 505.7 487.4 ------------- ------------- Total liabilities and stockholders' equity $ 1,517.8 $ 1,451.6 ------------- ------------- DigitalGlobe, Inc. Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2011 (in millions) 2012 Revised ------------- ------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 13.4 $ (2.2) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization expense 57.6 58.4 EnhancedView deferred revenue 33.8 49.7 Recognition of pre-FOC payments (12.8) (12.8) Amortization of aerial image library, deferred contract costs and lease incentive 10.5 4.2 Non-cash stock compensation expense 4.7 9.5 Amortization of debt issuance costs 1.9 2.2 Deferred income taxes 10.1 (2.4) Changes in working capital, net of investing activities: Accounts receivable, net 3.2 5.9 Prepaids and other assets (8.3) (4.1) Accounts payable 5.7 1.9 Accrued liabilities (13.5) (5.9) Deferred contract costs (0.5) - Deferred revenue 10.0 (1.2) ------------- ------------- Net cash flows provided by operating activities 115.8 103.2 ------------- ------------- CASH FLOWS FROM INVESTING ACTIVITIES: Construction in progress additions (96.5) (137.4) Other property and equipment additions (4.8) (4.0) Decrease in restricted cash 1.9 5.0 ------------- ------------- Net cash flows used in investing activities (99.4) (136.4) ------------- ------------- CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of long-term debt (2.5) - Proceeds from exercise of stock options - 1.3 Repurchase of common stock - (0.2) ------------- ------------- Net cash flows (used in) provided by financing activities (2.5) 1.1 ------------- ------------- Net increase (decrease) in cash and cash equivalents 13.9 (32.1) Cash and cash equivalents, beginning of period 198.5 179.3 ------------- ------------- Cash and cash equivalents, end of period $ 212.4 $ 147.2 ------------- ------------- SUPPLEMENTAL CASH FLOW INFORMATION: Interest capitalized $ 10.9 $ 7.7 NON-CASH INVESTING AND FINANCING ACTIVITIES: Changes to non-cash construction in progress accruals, including interest 12.8 3.2