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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net income $ 59,784 $ 66,820
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,089 16,172
Bad debt expense 1,219 683
Unrealized net loss on foreign currency forward contracts 0 1,641
Non-cash restructuring costs and adjustments 0 (127)
Deferred taxes (4,439) 11,015
Release of liabilities for unrecognized tax benefits (394) (61)
Share-based compensation expense 8,424 12,503
Excess tax benefits from share-based compensation arrangements (1,208) (963)
Reclassification of foreign currency translation adjustment from other comprehensive income 0 (280)
Changes in operating assets and liabilities:    
Accounts receivable 8,983 19,511
Prepaid expenses and other current assets (657) 3,377
Deposits and other assets (3,905) 1,562
Accounts payable and accrued expenses (4,668) (4,933)
Accrued compensation and employee benefits 717 (10,275)
Accrued restructuring costs (56) (1,940)
Deferred revenue and advance payments 19,435 11,153
Other long-term liabilities (2,288) (2,415)
Net cash provided by operating activities 94,036 123,443
Investing activities:    
Proceeds from redemption of short-term investments 273,520 316,000
Purchases of property and equipment (1,560) (3,352)
Purchases of short-term investments (292,948) (344,033)
Capitalized software development costs 0 (9,598)
Decrease in restricted cash 92 113
Net cash used in investing activities (20,896) (40,870)
Financing activities:    
Proceeds from sale of class A common stock under exercise of employee stock options 1,157 5,439
Payment of taxes relating to net exercise of employee stock options (3,739) 0
Excess tax benefits from share-based compensation arrangements 1,208 963
Payments on capital lease obligations and other financing arrangements (166) (1,430)
Net cash (used in) provided by financing activities (1,540) 4,972
Effect of foreign exchange rate changes on cash and cash equivalents 1,614 (4,276)
Net increase in cash and cash equivalents 73,214 83,269
Cash and cash equivalents, beginning of period 292,341 146,919
Cash and cash equivalents, end of period 365,555 230,188
Supplemental disclosure of noncash investing and financing activities:    
Assets acquired under capital lease obligations and other financing arrangements $ 0 $ 14