Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net loss	$ (281,722)	$ (155,713)	$ (88,142)
Less: Net loss from discontinued operations	(33,128)	(11,144)	(15,919)
Net loss from continuing operations	(248,594)	(144,569)	(72,223)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:
Depreciation and amortization	102,999	108,743	117,211
Impairment of intangible assets	183,777	57,015	24,754
Provision for doubtful accounts	1,394	1,813	2,797
Noncash interest	8,580	7,176	3,179
Noncash net (gains) losses on derivative instruments	(135)	(601)	43
Deferred income taxes	(1,615)	2,104	(9,314)
Other	8,959	5,044	8,350
Changes in operating assets and liabilities:
Accounts receivable, trade	(2,007)	5,635	43,863
Accounts payable and accrued expenses	(9,575)	(15,603)	(29,683)
Income taxes payable	(1,875)	920	(307)
Other assets and liabilities	(2,230)	11,287	522
Net cash provided by operating activities of continuing operations	39,678	38,964	89,192
Net cash (used in) provided by operating activities of discontinued operations	(17,035)	4,160	9,282
Net cash provided by operating activities	22,643	43,124	98,474
Cash flows from investing activities:
Purchases of accounts receivable	(2,269)	(1,733)	(2,413)
Collections applied to principal of purchased accounts receivable	6,011	8,142	12,910
Proceeds from sales of purchased accounts receivable			21
Purchases of property and equipment	(30,500)	(24,313)	(31,767)
Cash received from sale of business			20,000
Net cash (paid) received related to acquisitions	(20,827)	(1,600)	704
Other	859	1,402	136
Net cash used in investing activities of continuing operations	(46,726)	(18,102)	(409)
Net cash provided by investing activities of discontinued operations	37,670	40,446	17,123
Net cash (used in) provided by investing activities	(9,056)	22,344	16,714
Cash flows from financing activities:
Repayment of notes payable	(681)	(4,689)	(7,364)
Net borrowings under (repayments of) revolving credit facility	29,000	(7,000)	(64,500)
Repayment of borrowings under senior term loan	(50,273)	(42,039)	(39,345)
Payment of fees related to debt	(2,877)	(2,758)	(2,477)
Return of investment in subsidiary to noncontrolling interests	(247)	(270)	(189)
Issuance of stock, net			39,667
Payment of deemed dividend to JPM			(8,049)
Net cash used in financing activities of continuing operations	(25,078)	(56,756)	(82,257)
Net cash used in financing activities of discontinued operations	(4,022)	(14,633)	(24,896)
Net cash used in financing activities	(29,100)	(71,389)	(107,153)
Effect of exchange rate on cash	159	(223)	1,306
Net (decrease) increase in cash and cash equivalents	(15,354)	(6,144)	9,341
Cash and cash equivalents at beginning of the period	33,077	39,221	29,880
Cash and cash equivalents at end of the period	$ 17,723	$ 33,077	$ 39,221

NCO Group, Inc. 10-K