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DigitalGlobe, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) |
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| ($ in millions) | For the Six Months Ended June 30, | ||||||||||||||
| 2009 | 2010 | ||||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||
| Net income | $ | 19.0 | $ | 2.0 | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization expense | 37.6 | 60.1 | |||||||||||||
| Non-cash recognition of pre-FOC payments | (13.3 | ) | (12.8 | ) | |||||||||||
| Non-cash amortization | 2.5 | 2.2 | |||||||||||||
| Non-cash stock compensation expense | 4.2 | 2.9 | |||||||||||||
| Amortization of debt issuance costs | - | 2.3 | |||||||||||||
| Non-cash portion of loss on extinguishment of debt | 5.3 | - | |||||||||||||
| Deferred income taxes | 11.6 | 1.4 | |||||||||||||
| Changes in: | |||||||||||||||
| Accounts receivable, net | (5.5 | ) | (5.3 | ) | |||||||||||
| Accounts receivable from related party | (0.2 | ) | - | ||||||||||||
| Aerial image library | (2.5 | ) | 0.1 | ||||||||||||
| Other assets | (2.2 | ) | (0.6 | ) | |||||||||||
| Accounts payable | 1.1 | - | |||||||||||||
| Accounts payable and accrued liabilities to related parties | 3.3 | - | |||||||||||||
| Accrued liabilities | (2.6 | ) | 5.8 | ||||||||||||
| Deferred contract costs from related party | (7.7 | ) | - | ||||||||||||
| Deferred contract costs | - | (11.2 | ) | ||||||||||||
| Deferred revenue | 7.2 | 9.9 | |||||||||||||
| Deferred revenue related party | 2.1 | - | |||||||||||||
| Net cash flows provided by operating activities | 59.9 | 56.8 | |||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||
| Construction in progress additions | (61.2 | ) | (16.1 | ) | |||||||||||
| Other property, equipment and intangible additions | (4.6 | ) | (3.3 | ) | |||||||||||
| Settlements from derivative instrument | (2.8 | ) | - | ||||||||||||
| Change in restricted cash | (1.7 | ) | 0.9 | ||||||||||||
| Net cash flows used in investing activities | (70.3 | ) | (18.5 | ) | |||||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||
| Proceeds from issuance of debt, net of issuance costs | 330.9 | - | |||||||||||||
| Proceeds from initial public offering, net of issuance costs | 21.7 | - | |||||||||||||
| Repayment of notes | (270.0 | ) | - | ||||||||||||
| Costs associated with initial public offering | - | (0.3 | ) | ||||||||||||
| Payments for repurchase of common stock | (0.4 | ) | - | ||||||||||||
| Proceeds from exercise of stock options | 0.1 | 7.8 | |||||||||||||
| Net cash flows provided by financing activities | 82.3 | 7.5 | |||||||||||||
| Net increase in cash and cash equivalents | 71.9 | 45.8 | |||||||||||||
| Cash and cash equivalents, beginning of period | 60.8 | 97.0 | |||||||||||||
| Cash and cash equivalents, end of period | $ | 132.7 | $ | 142.8 | |||||||||||
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||||||||||||||
| Cash paid for income taxes | $ | 2.3 | $ | 0.1 | |||||||||||
| Cash paid for interest payments, net of amounts capitalized | - | 11.6 | |||||||||||||
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||||||||||||||
| Changes to non-cash property and equipment accruals, including interest | $ | (0.7 | ) | $ | (5.8 | ) | |||||||||
| Non-cash items capitalized in construction in progress | (4.1 | ) | - | ||||||||||||
