Free cash flow for the quarter was $107 million, while on a GAAP basis, the Company generated $132 million in cash from operations. In comparison, prior year free cash flow benefited from tax refunds associated with resolution of tax matters with the IRS. During the quarter, the Company used $75 million of cash for dividends and $16 million for restructuring payments.
During the quarter, the Company also issued $425 million of 30 year bonds that are callable at par after five years. The Company used the proceeds of the bond issuance to retire approximately $405 million of debt originally scheduled to mature between 2014 and 2016.
Business Segment Results
SMB Solutions Group
| 1Q 2013 | Y-O-Y Change | Change ex Currency | |||||||
| Revenue | $598 million | (5%) | (5%) | ||||||
| EBIT | $172 million | (13%) | |||||||
