|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net Loss |
$ (142,402) |
$ (78,576) |
$ (76,245) |
| Loss from discontinued operations |
(11,384) |
(6,681) |
(2,082) |
| Loss from continuing operations |
(131,018) |
(71,895) |
(74,163) |
| Adjustments to reconcile loss from continuing operations to cash provided by operating activities: |
|
|
|
| Non-cash stock-based compensation |
22,438 |
32,197 |
23,657 |
| Depreciation |
19,645 |
18,758 |
17,603 |
| Amortization of intangibles |
19,955 |
27,034 |
22,058 |
| Amortization of deferred finance charges and debt discount |
7,762 |
2,249 |
2,175 |
| Adjustment to deferred acquisition consideration |
36,143 |
53,305 |
13,550 |
| Loss on redemption of Notes |
50,385 |
0 |
0 |
| Deferred income taxes |
(5,427) |
8,422 |
40,284 |
| (Gain) loss on disposition of assets |
0 |
0 |
75 |
| Earnings of non consolidated affiliates |
(281) |
(633) |
(213) |
| Distributions in excess of carrying value |
(3,058) |
0 |
0 |
| Other and non-current assets and liabilities |
(9,835) |
(7,897) |
(1,962) |
| Foreign exchange |
3,091 |
895 |
687 |
| Increase/decrease in operating assets and liabilities |
|
|
|
| Accounts receivable |
17,644 |
(29,901) |
(10,938) |
| Expenditures billable to clients |
(4,404) |
(17,151) |
15,315 |
| Prepaid expenses and other current assets |
(7,807) |
(2,213) |
(699) |
| Accounts payable, accruals and other liabilities |
29,227 |
66,092 |
(9,648) |
| Advance billings |
17,632 |
1,667 |
(32,491) |
| Cash flows provided by continuing operating activities |
62,092 |
80,929 |
5,290 |
| Discontinued operations |
(2,793) |
(4,626) |
(742) |
| Net cash provided by operating activities |
59,299 |
76,303 |
4,548 |
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(19,549) |
(20,296) |
(23,295) |
| Proceeds from sale of assets |
239 |
51 |
22 |
| Acquisitions, net of cash acquired |
(11,872) |
30,993 |
(6,790) |
| Profit distributions from affiliates |
3,761 |
1,288 |
4,584 |
| Other investments |
(2,692) |
(2,198) |
(4,232) |
| Cash flows provided by (used in) continuing investing activities |
(30,113) |
9,838 |
(29,711) |
| Discontinued operations |
(11) |
(2,027) |
(725) |
| Net cash provided by (used in) investing activities |
(30,124) |
7,811 |
(30,436) |
| Cash flows from financing activities: |
|
|
|
| Repayment of 11% Notes |
(425,000) |
0 |
0 |
| Proceeds (repayments) of revolving credit facility |
0 |
(38,032) |
38,032 |
| Acquisition related payments |
(119,572) |
(68,725) |
(34,287) |
| Bank overdraft |
4,976 |
25,986 |
(5,676) |
| Distributions to noncontrolling interests |
(5,525) |
(7,673) |
(12,264) |
| Proceeds from exercise of options |
0 |
28 |
1,086 |
| Payments of dividends |
(22,047) |
(22,030) |
(16,436) |
| Repayment of long-term debt |
(2,009) |
(653) |
(1,112) |
| Premium paid on redemption of Notes |
(50,385) |
0 |
0 |
| Deferred financing costs |
(20,815) |
(2,232) |
(3,053) |
| Proceeds from stock subscription receivable |
0 |
0 |
80 |
| Purchase of shares |
(13,817) |
(3,327) |
(4,121) |
| Other |
561 |
0 |
0 |
| Cash flows provided by (used in) continuing financing activities |
10,492 |
(31,858) |
23,299 |
| Discontinued operations |
0 |
0 |
0 |
| Net cash provided by (used in) financing activities |
10,492 |
(31,858) |
23,299 |
| Effect of exchange rate changes on cash and cash equivalents |
2,010 |
(22) |
(264) |
| Increase (decrease) in cash and cash equivalents |
41,677 |
52,234 |
(2,853) |
| Cash and cash equivalents at beginning of year |
60,330 |
8,096 |
10,949 |
| Cash and cash equivalents at end of year |
102,007 |
60,330 |
8,096 |
| Supplemental disclosures: |
|
|
|
| Cash income taxes paid |
919 |
1,236 |
240 |
| Cash interest paid |
38,727 |
41,094 |
37,497 |
| Non-cash transactions: |
|
|
|
| Capital leases |
595 |
431 |
682 |
| Note receivable exchanged for shares of subsidiary |
0 |
888 |
1,098 |
| Dividends payable |
1,793 |
1,041 |
5,456 |
|
Six Point Seven Five Percentage Notes [Member]
|
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Notes |
664,125 |
0 |
0 |
|
Eleven Percentage Notes [Member]
|
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Notes |
$ 0 |
$ 84,800 |
$ 61,050 |