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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 218,255 $ 285,443
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and intangible assets amortization 62,197 42,216
Operating lease right-of-use assets expense 15,336 13,912
Deferred income tax benefit (22,627) (13,221)
Provision for bad debts 5,799 2,559
Stock-based compensation expense 103,256 84,784
Other 2,294 2,560
Changes in operating assets and liabilities:    
Accounts receivable 62,184 (12,610)
Other receivables and current assets 12,735 37,773
Other long-term assets (12,341) (2,288)
Accounts payable, accrued expenses and current liabilities (76,517) (37,289)
Accrued income taxes 22,010 (2,547)
Deferred revenue (29,978) (35,807)
Other long-term liabilities 10,940 (5,000)
Net cash provided by operating activities 373,543 360,485
Cash flows from investing activities:    
Acquisitions, net of cash acquired (100,194) (294,987)
Capital expenditures (24,195) (25,781)
Other investing activities (6,201) (12,680)
Net cash used in investing activities (130,590) (333,448)
Cash flows from financing activities:    
Principal payments on long-term debt (75,000) 0
Purchase of treasury stock (161,029) (59,116)
Restricted stock withholding taxes paid in lieu of issued shares (66,774) (37,936)
Proceeds from shares issued for stock-based compensation 26,957 28,633
Other financing activities 0 (1,617)
Net cash used in financing activities (275,846) (70,036)
Effect of exchange rate fluctuations on cash and cash equivalents 5,540 (1,456)
Net decrease in cash and cash equivalents (27,353) (44,455)
Cash and cash equivalents, beginning of period 872,094 777,139
Cash and cash equivalents, end of period 844,741 732,684
Supplemental disclosure of cash flow information:    
Income taxes paid 35,576 73,561
Interest paid $ 9,985 $ 356