Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities:      
Net income (loss) $ (22,093) [1] $ (12,577) [2],[3] $ (25,270) [2]
Income (loss) from discontinued operations 1,995 [1] (6,648) [2],[3] (3) [2]
Income (loss) from continuing operations (20,098) [1] (19,225) [2],[3] (25,273) [2]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 2,301 [1] 2,107 [3] 2,779
Amortization 1,659 [1] 1,946 [3] 2,150
Share-based compensation expense 809 [1] 913 [3] 1,540
Deferred and stock option income tax expense (benefit) 23,861 [1] (6,120) [3] (11,438)
(Gain) loss on translation of foreign currency 42 [1] (76) [3] 55
(Gain) on equity method investment (25,096) [1] 18,410 [3]  
Income from collection of note receivable (2,300) [1]    
Impairment loss and other expenses 9,194 [1]   22,456
Loss on deconsolidation of subsidiary     4,550 [2]
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:      
Accounts receivable, net (2,072) [1] (3,628) [3] 2,785
Inventory, net 1,097 [1] 1,645 [3] 653
Deferred advertising costs 508 [1] 42 [3] (263)
Advances (44) [1] 2,847 [3] (934)
Other current assets (2,843) [1] (6,228) [3] (3,309)
Accounts payable (4,407) [1] 1,463 [3] 5,243
Participations payable 1,045 [1] (4,674) [3] 4,209
Accrued liabilities 789 [1] 9,472 [3] (1,668)
Net cash provided by (used in) operating activities - continuing operations (15,555) [1] (1,106) [3] 3,535
Net cash provided by (used in) operating activities - discontinued operations (7,569) [1] 17,582 [3] 1,705
Net cash provided by (used in) operating activities (23,124) [1] 16,476 [3] 5,240
Investing activities:      
Net proceeds from sale of investment 25,096 [1]    
Collection from (loan to) related party 2,100 [1] (830) [3]  
Purchase of property, equipment and media rights (3,386) [1] (3,723) [3] (4,392)
Proceeds from sale of business 47,500 [1]    
Purchase of businesses (6,333) [1] (146) [3]  
Collection of note receivable     2,700
Cash from acquired business     3,416
Change in restricted cash     730
Deconsolidation of Real Goods Solar     (11,812)
Net cash provided by (used in) investing activities - continuing operations 64,977 [1] (4,699) [3] (9,358)
Net cash provided by (used in) investing activities - discontinued operations   (13,491) [3] (1,435)
Net cash provided by (used in) investing activities 64,977 [1] (18,190) [3] (10,793)
Financing activities:      
Net proceeds from issuance of stock and tax benefits from option exercises 777 [1]   77
Payment of dividends   (583) [3]  
Repurchase of Class A common stock, including related costs     (2,264)
Subsidiary's repurchase of its Class A common stock, including related costs     (1,070)
Net cash provided by (used in) financing activities - continuing operations 777 [1] (583) [3] (3,257)
Net cash provided by (used in) financing activities - discontinued operations (19,967) [1] (2,472) [3] (5,373)
Net cash provided by (used in) financing activities (19,190) [1] (3,055) [3] (8,630)
Effect of exchange rates on cash (292) [1] 82 [3] (45)
Net increase (decrease) in cash 22,371 [1] (4,687) [3] (14,228)
Cash at beginning of year 9,858 [1],[3] 14,545 [3] 28,773
Cash at end of year 32,229 [1] 9,858 [1],[3] 14,545 [3]
Supplemental cash flow information:      
Interest paid 442 [1] 468 [3] 195
Income taxes paid 577 [1] 673 [3] 531
Liabilities and debt assumed from acquisitions $ 337 [1] $ 14,277 [3] $ 21,709
[1] Cash flows in 2013 include the $25.0 million gain from the sale of RSOL stock, the sale of GVE and the closure of the DRTV Business Unit.
[2] RSOL was deconsolidated and accounted for as an equity method investment from December 31, 2011 until May 28, 2013, when it became a cost method investment. Consequently, RSOL is reported as an equity method investment for the year ended December 31, 2012 and as a consolidated subsidiary for the year ended December 31, 2011.
[3] Net cash provided by operating activities for discontinued operations during 2012 includes approximately $18.7 million of net cash provided by purchased Vivendi Entertainment ("Vivendi") working capital, which was used to partially fund the acquisition of Vivendi. Excluding the net cash flows from the purchased Vivendi working capital, net cash used by operating activities for discontinued operations would have been zero during 2012.