Thanks, you are correct. I pulled the Feb 2011 10k, and it is clear -- $30M cash. No other acquisitions were mentioned, so that must be it. That being said, they show no earnouts for FY 2011 or 2012, but that could be because retention payments just got misclassified as comp. I stand by your >$40M comment as justifiable, likely accurate, and definitely more accurate than my estimation.
From the 10K > During 2010, except for the $50 million repayment of our line of credit and cash paid for an acquisition of $30 million, we were able to maintain a consistent level of cash and cash equivalents while growing our business by maintaining our disciplined use of capital.