| Cash Flow for Home Inns & Hotels Management Inc. (HMIN) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 4,902 | 6,009 | 2,594 | 721 | N/A | | Depreciation & Amortization | 12,011 | 5,972 | 2,954 | 721 | N/A | | Deferred Income Taxes | (3,240) | (2,223) | (1,230) | (348) | N/A | | Operating Losses | 1,324 | 1,565 | 500 | (305) | N/A | | Extraordinary Losses | - | - | - | - | N/A | | | Decrease in Receivables | (1,001) | (763) | (129) | (33) | N/A | | Decrease in Inventories | (395) | (846) | (455) | (177) | N/A | | Decrease in Other Current Assets | - | - | (235) | - | N/A | | Increase in Payables | (1,241) | 708 | 285 | (259) | N/A | | Increase in Other Current Liabilities | 5,944 | 8,802 | 2,837 | 2,554 | N/A | | Decrease in Other Working Capital | 4,785 | 89 | 1,602 | 879 | N/A | | Other Non-Cash Items | 9,412 | 2,088 | 119 | 18 | N/A | | Net Cash from Continuing Operations | 29,423 | 20,755 | 8,748 | 3,463 | N/A | | Net Cash from Discontinued Operations | - | - | - | - | N/A | | Cash from Operating Activities | 29,423 | 20,755 | 8,748 | 3,463 | N/A | | | | Sale of Property, Plant, Equipment | 118 | 9 | 14 | - | N/A | | Sale of Short Term Investments | - | - | - | - | N/A | | | Purchase of Property, Plant, Equipment | (64,093) | (27,404) | (19,756) | (6,914) | N/A | | Acquisitions | (20,117) | - | - | 1,802 | N/A | | Purchase of Short Term Investments | - | - | - | - | N/A | | Other Investment Changes, Net | - | - | - | - | N/A | | Cash from Investing Activities | (84,092) | (27,395) | (19,742) | (5,112) | N/A | | | Issuance of Debt | 253,649 | 27,773 | 7,434 | - | N/A | | Issuance of Capital Stock | 50,556 | 83,365 | 4,997 | 3,669 | N/A | | | Repayment of Debt | (131,721) | (11,020) | (20) | (362) | N/A | | Repurchase of Capital Stock | - | - | - | - | N/A | | Payment of Cash Dividends | (257) | - | - | - | N/A | | Other Financing Charges, Net | 38 | (288) | - | 149 | N/A | | Cash from Financing Activities | 172,265 | 99,831 | 12,411 | 3,455 | N/A | | | | Effect of Exchange Rate Changes | (7,296) | (896) | - | - | N/A | | Net Change in Cash | 110,300 | 92,295 | 1,417 | 1,806 | N/A | | | Cash at Beginning of Year | 103,913 | 4,834 | 3,258 | 1,370 | N/A | | Cash at End of Period | 214,213 | 97,129 | 4,674 | 3,176 | N/A | | | |
