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10-K
ICONIX BRAND GROUP, INC. filed this Form 10-K on 03/28/2019
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Iconix Brand Group, Inc. and Subsidiaries

Consolidated Statements of Cash Flows (in thousands)

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31,

2018

 

 

December 31,

2017

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss from continuing operations

 

$

(89,669

)

 

$

(557,455

)

Income from discontinued operations

 

 

 

 

 

48,968

 

Adjustments to reconcile net income (loss) to net cash provided by operating

   activities:

 

 

 

 

 

 

 

 

Depreciation of property and equipment

 

 

2,071

 

 

 

1,714

 

Amortization of trademarks and other intangibles

 

 

258

 

 

 

741

 

Amortization of deferred financing costs

 

 

3,133

 

 

 

9,771

 

Amortization of debt discount

 

 

9,833

 

 

 

7,349

 

Amortization of deferred rent

 

 

(238

)

 

 

(198

)

Third party fees associated with the issuance of 5.75% Convertible Notes

 

 

4,958

 

 

 

 

Interest expense on 5.75% Convertible Notes paid in shares

 

 

3,067

 

 

 

 

Stock-based compensation (benefit) expense

 

 

(2,405

)

 

 

8,744

 

Non-cash gain on re-measurement of equity investment

 

 

(8,410

)

 

 

 

Provision for doubtful accounts

 

 

15,557

 

 

 

5,794

 

Write-off of contract asset accounts

 

 

1,777

 

 

 

 

Write-off of receivable due from Iconix India joint venture partner

 

 

1,000

 

 

 

 

Losses (Earnings) on equity investments in joint ventures

 

 

(3,043

)

 

 

3,259

 

Distributions from equity investments

 

 

3,021

 

 

 

3,575

 

Gain on deconsolidation of joint venture

 

 

 

 

 

(3,772

)

Goodwill impairment

 

 

37,812

 

 

 

103,877

 

Trademark impairment

 

 

136,417

 

 

 

525,726

 

Impairment of equity method investment

 

 

2,500

 

 

 

16,848

 

Settlement of note receivable related to formation of Buffalo joint venture

 

 

1,141

 

 

 

 

Mark to market adjustment on convertible note

 

 

(80,979

)

 

 

 

Gain on debt to equity conversions

 

 

(1,165

)

 

 

 

Gain on sale of trademarks

 

 

(1,268

)

 

 

(875

)

Loss on sale of NGX

 

 

 

 

 

79

 

Gain on sale of Complex Media

 

 

(958

)

 

 

(2,728

)

(Gain) loss on extinguishment of debt

 

 

(4,473

)

 

 

20,939

 

Loss on other equity investment

 

 

402

 

 

 

 

Deferred income tax benefit

 

 

(2,004

)

 

 

(104,169

)

Loss (Gain) on foreign currency translation

 

 

1,153

 

 

 

3,071

 

Changes in operating assets and liabilities, net of business acquisitions:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

13,103

 

 

 

(6,481

)

Other assets – current

 

 

19,144

 

 

 

(38,997

)

Other assets

 

 

(5,498

)

 

 

2,469

 

Deferred revenue

 

 

(282

)

 

 

(3,272

)

Accounts payable and accrued expenses

 

 

204

 

 

 

23,212

 

Other tax liabilities

 

 

(531

)

 

 

(4,713

)

Other liabilities

 

 

454

 

 

 

(1,654

)

Net cash provided by continuing operating activities

 

 

56,082

 

 

 

12,854

 

Net cash used in discontinued operating activities

 

 

 

 

 

(10,780

)

Net cash provided by operating activities

 

 

56,082

 

 

 

2,074

 

Cash flows provided by (used in) investing activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

 

(829

)

 

 

(870

)

Acquisition of additional interest in Iconix MENA

 

 

 

 

 

(1,800

)

Acquisition of remaining interest in Iconix Canada

 

 

(7,053

)

 

 

(11,177

)

Acquisition of trademarks from Iconix Southeast Asia

 

 

(2,120

)

 

 

 

Acquisition of Badgley Mischka and Sharper Image trademarks in certain international

   joint ventures

 

 

(1,289

)

 

 

 

Acquisition of additional interest in Iconix Australia, net of cash acquired

 

 

(649

)

 

 

 

Proceeds received from note due from American Greetings

 

 

 

 

 

1,250

 

64


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