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Annual Report 2012: APH Financial Statements, Fiscal Year 2012

October 1, 2011 – September 30, 2012


Previous: Statements of Activities and Changes in Net Assets
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Statements of Cash Flows

Years Ended September 30, 2012 and 2011

2012 2011

Cash flows from operating activities

Cash received from customers $24,949,949 $23,489,981
Cash paid to suppliers, employees, and others (28,787,193) (27,053,085)
Cash received from gifts and bequests 1,127,046 3,086,281
Interest and dividends 1,852,927 1,800,832
Other income and support 1,694,119 1,659,861
Net cash provided by (used in) operating activities 836,848 2,983,870

Cash flows from investing activities

Proceeds from sales of marketable securities $31,332,159 $12,562,687
Purchase of marketable securities (32,146,952) (13,609,124)
Purchase of property and equipment (579,899) (670,432)
Net cash (used in) provided by investing activities (1,394,692) (1,716,869)

Cash flows from financing activities

Proceeds from contributions restricted for investment subject to annuity agreements $170,010 $25,412
Payments of annuity obligations (105,508) (109,884)
Net cash used in financing activities 64,502 (84,472)
(Decrease) increase in cash and cash equivalents (493,342) 1,182,529
Cash and cash equivalents, beginning of year 5,703,068 4,520,539
Cash and cash equivalents, end of year $5,209,726 $5,703,068

Reconciliation of change in net assets to net cash
provided by operating activities

Change in net assets $15,402,387 $(749,974)
Adjustments:
Depreciation 734,067 925,388
Unrealized (gain) loss on investments held (9,993,993) 3,834,120
Realized gain on investments (2,665,688) (1,522,770)
Allowance for bad debts 4,959 11
(Decrease) increase in cash due to changes in:
Accounts receivable, trade 31,622 146,568
Government programs receivable 128,694 222,107
Split-interest agreements (9,961) 3,226
Inventories (1,453,774) 55,632
Prepaid expenses (32,886) (55,553)
Other receivable (1,300,000)
Accounts payable and customer deposits (65,973) 298,938
Accrued expenses 178,963 225,532
Annuities payable 32,837 4,584
Underfunded benefit plan obligation (1,454,406) 896,061
Net cash provided by operating activities 836,848 2,983,870

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