Cash used in financing activities for fiscal 2013 was approximately
$11.2 millioncompared to approximately $16.9 millionfor fiscal 2012. The current period usage of cash was primarily due to approximately $11.8 millionof purchases of noncontrolling interests in Endace, and payroll tax withholdings on behalf of employees for restricted stock of approximately $4.0 million, partially offset by the proceeds from issuance of common stock under stock plans of approximately $4.9 million.
Prospective Capital Needs
August 2008, our Board of Directors authorized a plan to repurchase up to $100.0 millionof our outstanding common stock. In April 2009, upon receipt of an unsolicited takeover proposal and related tender offer of Broadcom to acquire us, our Board of Directors elected to temporarily suspend any activity under the share repurchase plan. In light of Broadcom allowing its tender offer to expire on July 14, 2009, Emulex'sBoard of Directors elected to reactivate the $100.0 millionshare repurchase plan effective July 15, 2009. From June 29, 2009through June 30, 2013, the Company repurchased approximately 9.0 million shares of its common stock for an aggregate purchase price of approximately $78.4 millionat an average purchase price of $8.67per share under 51 -------------------------------------------------------------------------------- this plan. Our Board of Directors has not set an expiration date for the plan. Therefore, we may repurchase additional shares under this plan from time to time through open market purchases or privately negotiated transactions. It is expected that any future share repurchases will be financed by available cash and cash from operations. We plan to continue our strategic investment in research and development, sales and marketing, capital equipment, and facilities. We may also consider internal and external investment opportunities in order to achieve our growth and market leadership goals, including licensing and product development alignment agreements with our suppliers, customers, and other third parties. We believe that our existing cash and cash equivalents, current investments, and anticipated cash flows from operating activities will be sufficient to support our working capital needs, capital expenditure requirements and stock repurchasing expenditures for at least the next 12 months, although we may also consider external financing sources. We currently do not have any outstanding lines of credit or other borrowings. We have disclosed outstanding legal proceedings in Note 9, "Commitments and Contingences," in the accompanying notes to consolidated financial statements included in Part IV, Item 15(a) of this Annual Report on Form 10-K, including the consolidated patent infringement lawsuit filed by Broadcom against us. This lawsuit continues to present risks that could have a material adverse effect on our business, financial condition, or results of operations, including loss of patent rights, monetary damages, and injunction against the sale of accused products. We continue to present a vigorous post-trial defense against this on-going lawsuit, and have appealed the trial verdict. On July 3, 2012, we entered into a Settlement Agreement pursuant to which both parties agreed to settle and release certain claims related to the patent infringement litigation. The Settlement Agreement provided for certain amendments to the April 3, 2012Permanent Injunction, and dismissals of certain allegations of the lawsuit, including portions of the scheduled re-trial. We also received a worldwide limited license to the '691 patent, the '150 patent, the '194 patent and related families for certain fields of use including Fibre Channel applications. We expect to incur incremental mitigation, product redesign, appeal related expenses during fiscal 2014 in the range of $6 millionto $7 million. In addition, we have agreed to participate in certain customer royalty obligations arising under their licensing agreements with Broadcom that are expected to be from $2 millionto $8 millionduring fiscal 2014. Such costs will reduce gross margins in the periods accrued. See "Product Redesign Activities and Potential Royalty Obligations" in Part II, Item 7 of this Annual Report on Form 10-K. Also see "Third party claims of intellectual property infringement could adversely affect our business" and "We are dependent on sole source and limited source third party suppliers and EMS providers for our products" in Part I, Item 1A - Risk Factors, of this Annual Report on Form 10-K for a description of certain risks relating to the litigation with Broadcom that could impact our liquidity and prospective capital needs.