|
| | | | | | | | | | | | |
| | Fiscal |
| | 2016 | | 2015 | | 2014 |
Cash flows from operating activities: | | | | | | |
Net loss | | $ | (198.8 | ) | | $ | (556.8 | ) | | $ | (10.3 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | |
Equity in net income of subsidiaries | | 214.8 |
| | 357.2 |
| | (207.7 | ) |
Dividends from subsidiaries | | 63.5 |
| | 65.7 |
| | 118.0 |
|
Depreciation of properties | | 0.3 |
| | 0.5 |
| | 0.2 |
|
Stock-based compensation | | 13.7 |
| | 25.0 |
| | 27.0 |
|
Amortization of debt issuance costs | | 2.7 |
| | 4.4 |
| | 3.5 |
|
Amortization of debt discount | | 3.3 |
| | 1.8 |
| | 1.5 |
|
Deferred income taxes | | (205.8 | ) | | — |
| | — |
|
Loss from the change in the fair value of the equity conversion feature of preferred stock | | — |
| | — |
| | 12.7 |
|
Gain on contingent purchase price reduction | | — |
| | (8.5 | ) | | (0.5 | ) |
Changes in operating assets and liabilities: | | | | | | |
Accounts payable and accrued and other current liabilities | | (5.4 | ) | | (35.4 | ) | | 43.5 |
|
Other operating activities | | 1.8 |
| | 64.4 |
| | (0.7 | ) |
Net change in cash due to operating activities | | (109.9 | ) | | (81.7 | ) | | (12.8 | ) |
Cash flows from investing activities: | | | | | | |
Capital contributions to consolidated subsidiaries | | (2.9 | ) | | (406.4 | ) | | (115.5 | ) |
Capital expenditures | | (0.1 | ) | | (1.2 | ) | | (0.3 | ) |
Net change in cash due to investing activities | | (3.0 | ) | | (407.6 | ) | | (115.8 | ) |
Cash flows from financing activities: | | | | | | |
Dividends paid on preferred stock | | — |
| | — |
| | (28.6 | ) |
Proceeds from senior secured notes | | — |
| | 409.6 |
| | 400.0 |
|
Debt issuance costs | | — |
| | (6.8 | ) | | (10.4 | ) |
Common stock repurchased | | — |
| | (22.1 | ) | | (65.6 | ) |
Share based award tax withholding payments | | (17.8 | ) | | (18.3 | ) | | (6.5 | ) |
Other financing activities | | 4.4 |
| | 4.1 |
| | 2.8 |
|
Net change in cash due to financing activities | | (13.4 | ) | | 366.5 |
| | 291.7 |
|
Net increase in cash and cash equivalents | | (126.3 | ) | | (122.8 | ) | | 163.1 |
|
Cash and cash equivalents at beginning of period | | 297.2 |
| | 420.0 |
| | 256.9 |
|
Cash and cash equivalents at end of period | | $ | 170.9 |
| | $ | 297.2 |
| | $ | 420.0 |
|
