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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 185,904 $ 159,338 $ 143,291
Adjustments required to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 173,230 157,142 156,301
Stock-based compensation 80,864 67,223 56,980
Accrued severance pay, net (1,964) 1,020 (788)
Amortization of premium and discount and accrued interest on marketable securities (53) (598) 646
Deferred taxes, net (12,208) (30,172) (70,805)
Increase (Decrease) in Operating Capital [Abstract]      
Trade receivables, net (29,863) (72,583) 37,735
Prepaid expenses and other current assets (76,180) (29,852) (6,839)
Trade payables 777 (3,526) 2,665
Accrued expenses and other liabilities 31,730 48,095 25,541
Operating lease right-of-use assets, net (19,104)    
Deferred revenues 13,810 92,768 41,624
Long term liabilities (311) (1,024) (5,169)
Operating lease liabilities (18,839)    
Amortization of discount on debt 9,236 8,670 13,547
Other (1,079) 108 (67)
Net cash provided by operating activities 374,158 396,609 394,662
Cash flows from investing activities      
Purchase of property and equipment (27,293) (31,442) (39,889)
Purchase of investments (619,060) (429,500) (133,423)
Proceeds from investments 362,713 137,180 64,295
Payments for business and asset acquisitions, net of cash acquired (25,972) (104,776) (76,027)
Capitalization of internal use software costs (34,679) (32,225) (27,936)
Net cash used in investing activities (344,291) (460,763) (212,980)
Cash flows from financing activities      
Proceeds from issuance of shares upon exercise of options 5,428 19,048 19,240
Purchase of treasury shares (47,276) (26,004) (24,428)
Dividends paid 0 0 (9,637)
Capital lease payments (816) (876) (137)
Proceeds from issuance of exchangeable senior notes, net 0 0 260,135
Repayment of loan 0 0 (260,000)
Repayment of short-term debt 0 (8,436) 0
Net cash used in financing activities (42,664) (16,268) (14,827)
Effect of exchange rate changes on cash (979) (5,781) 4,421
Net change in cash and cash equivalents (13,776) (86,203) 171,276
Cash and cash equivalents at the beginning of the year 242,099 328,302 157,026
Cash and cash equivalents at the end of the year 228,323 242,099 328,302
Cash paid during the year for      
Income taxes 65,200 42,858 33,029
Interest 11,493 12,319 7,910
Non-cash activities      
Decrease in other receivables with respect to exercise of share options 0 53 138
Increase in accrued expenses and other liabilities with respect to purchase of treasury shares $ 35 $ 1,282 $ 0