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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net (loss) $ (65,379) $ (91,351)
Adjustments to reconcile net (loss) to cash (used in) operating activities    
Stock-based compensation 76,755 60,242
(Gain) on capped call transactions (19,816) 0
Deferred income taxes (43,476) (40,531)
Amortization of deferred commissions 24,922 22,372
Lease expense 11,997 10,454
Amortization of debt discount and issuance costs 10,405 0
Amortization of intangible assets and depreciation 15,677 16,998
Amortization of investments 252 798
Foreign currency transaction (gain) loss (2,545) 3,577
Other non-cash (1,374) (363)
Change in operating assets and liabilities, net (33,675) 4,342
Cash (used in) operating activities (26,257) (13,462)
Investing activities    
Purchases of investments (190,319) (11,182)
Proceeds from maturities and called investments 0 13,066
Sales of investments 1,424 68,937
Payments for acquisitions, net of cash acquired 0 (10,934)
Investment in property and equipment (21,806) (6,439)
Cash (used in) provided by investing activities (210,701) 53,448
Financing activities    
Proceeds from issuance of convertible senior notes 600,000 0
Purchase of capped calls related to convertible senior notes (51,900) 0
Payment of debt issuance costs (14,527) 0
Dividend payments to shareholders (7,206) (7,105)
Common stock repurchases (76,737) (54,836)
Cash provided by (used in) financing activities 449,630 (61,941)
Effect of exchange rate changes on cash and cash equivalents 183 (363)
Net increase (decrease) in cash and cash equivalents 212,855 (22,318)
Cash and cash equivalents, beginning of period 68,363 114,422
Cash and cash equivalents, end of period $ 281,218 $ 92,104