DISCOVERY PRODUCER SERVICES LLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31,
2011
2010
2009
(In thousands)
OPERATING ACTIVITIES:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 50,808 $ 51,426 $ 36,907
Adjustments to reconcile to cash provided by operations:
Depreciation, amortization and accretion . . . . . . . . . . . . . . . . . . . . . . . . . 21,211 20,544 18,751
Net loss (gain) on disposal of equipment . . . . . . . . . . . . . . . . . . . . . . . . .
(18)
3 —
Cash provided (used) by changes in assets and liabilities:
Trade accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,979 2,154 (18,963)
Insurance receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,234 2,413
(1,274)
Prepaid insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
61
(285)
216
Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
51
301
(433)
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2,242) 1,372 (14,124)
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(276)
(417)
(4,613)
Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(103)
(942)
(383)
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,705 76,569 16,084
INVESTING ACTIVITIES:
Property, plant, and equipment — capital expenditures* . . . . . . . . . . . . . . . (16,396)
(8,474) (19,023)
Decrease in restricted cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 3,470
Acquisition of other noncurrent assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35
(279) —
Net cash used by investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,361)
(8,753) (15,553)
FINANCING ACTIVITIES:
Distributions to members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (67,300) (73,460) (52,642)
Capital contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,183 5,800 20,133
Net cash used by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (50,117) (67,660) (32,509)
Increase (decrease) in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . 7,227
156 (31,978)
Cash and cash equivalents at beginning of period . . . . . . . . . . . . . . . . . . . . . . . 10,230 10,074 42,052
Cash and cash equivalents at end of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 17,457 $ 10,230 $ 10,074
* Increase to property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . (21,501)
(9,556)
(9,560)
Changes in related accounts payable and accrued liabilities . . . . . . . . . . . . . 5,140 1,082
(9,463)
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(16,361) $ (8,474) $(19,023)
See accompanying notes to consolidated financial statements.
226