XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 66,246 $ 44,060 $ 72,331
Adjustments to reconcile net income to net cash provided by operating activities-      
Depreciation 23,585 27,967 24,835
Amortization 47,667 48,984 47,966
Amortization of original issue discount 0 0 3,021
Asset impairment 2,061 31,761 1,270
Gain on lease modifications (4,349) 0 0
(Gain)/loss on short-term investments and other 0 18 (294)
Loss on derivative liability upon debt conversion 0 7,456 0
Loss on extinguishment of debt 0 0 132
Loss on acquisition of controlling interest 0 0 6,180
Unrealized foreign currency transactions (gain)/loss, net 225 (103) (424)
Deferred income taxes (23,560) (27,627) 2,388
Stock-based compensation 28,990 27,243 21,400
Changes in operating assets and liabilities, net of acquired amounts:      
Trade accounts receivable, net (22,401) (51,005) (10,278)
Other current and non-current assets and liabilities (6,566) (12,833) (1,527)
Income taxes payable/receivable (1,849) 9,336 (10,174)
Trade accounts payable and accrued liabilities 12,541 (36,971) (15,607)
Deferred revenue 9,306 (4,689) (996)
Net cash provided by operating activities 131,896 63,597 140,223
Cash flows from investing activities:      
Purchases of software, property and equipment (27,977) (36,991) (26,562)
Purchases of short-term investments 0 0 (66,970)
Proceeds from sale/maturity of short-term investments 71 27,953 90,452
Acquisition of and investments in business, net of cash acquired 0 0 (63,626)
Net cash used in investing activities (27,906) (9,038) (66,706)
Cash flows from financing activities:      
Proceeds from issuance of common stock 3,284 2,969 2,610
Payment of cash dividends (33,930) (33,475) (32,587)
Repurchase of common stock (127,065) (96,720) (42,253)
Deferred acquisition payments (3,220) (2,314) 0
Proceeds from long-term debt 470,000 290,000 150,000
Payments on long-term debt (327,500) (264,801) (128,438)
Purchase of capped call transactions related to convertible notes (34,298) 0 0
Payments of deferred financing costs (14,539) 0 (3,000)
Settlement and merchant reserve activity 35,963 52,656 20,277
Net cash used in financing activities (31,305) (51,685) (33,391)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash 2,173 (5,758) (2,954)
Net decrease in cash, cash equivalents and restricted cash 74,858 (2,884) 37,172
Cash, cash equivalents and restricted cash, beginning of period 389,018 391,902 354,730
Cash, cash equivalents and restricted cash, end of period 463,876 389,018 391,902
Cash paid during the period for-      
Interest 24,730 18,314 12,882
Income taxes 51,675 34,671 36,690
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 186,264 150,365 205,635
Settlement and merchant reserve assets 274,699 238,653 186,267
Restricted cash included in current and non-current assets 2,913 0 0
Total cash, cash equivalents and restricted cash $ 463,876 $ 389,018 $ 391,902