2008 2007
Cash flows from operating activities:
Net income (loss) $556,172 $(23,190)
Adjustments to reconcile net income (loss)
to net cash provided by operating
activities:
(Income) loss from discontinued
operations, net of tax (93,159) 38,780
Depreciation and amortization 21,468 20,954
Minority interest in WHC (loss) income (929) 2,758
Equity in earnings of EBS Master LLC (4,007) (22,679)
Amortization of debt issuance costs 2,248 2,179
Non-cash advertising 1,736 2,489
Non-cash stock-based compensation 18,974 26,246
Deferred income taxes 11,934 3,710
Gain on sale of EBS Master LLC and 2006
EBS Sale (538,024) (399)
Impairment of auction rate securities 60,108 -
Changes in operating assets and
liabilities:
Accounts receivable 7,932 14,835
Prepaid expenses and other, net 4,174 (198)
Accrued expenses and other
long-term liabilities (3,639) (45,878)
Deferred revenue 5,340 3,253
Net cash provided by continuing
operations 50,328 22,860
Net cash provided by discontinued
operations 28,497 24,366
Net cash provided by operating
activities 78,825 47,226
Cash flows from investing activities:
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