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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net income $ 14,867 $ 14,272
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,818 4,553
Bad debt expense 1,044 531
Deferred taxes (1,812) 688
Share-based compensation expense 3,115 1,504
Excess tax benefits from share-based compensation arrangements 0 (1,266)
Changes in operating assets and liabilities:    
Accounts receivable 9,584 11,915
Prepaid expenses and other current assets (58) (3,551)
Deposits and other assets 75 4
Accounts payable and accrued expenses (16,295) (3,093)
Accrued compensation and employee benefits (10,795) (4,083)
Accrued restructuring costs 0 (26)
Deferred revenue and advance payments 23,811 30,065
Other long-term liabilities (833) (686)
Net cash provided by operating activities 26,521 50,827
Investing activities:    
Proceeds from redemption of short-term investments 91,140 63,500
Purchases of property and equipment (820) (193)
Purchases of short-term investments (163,421) (97,417)
Net cash used in investing activities (73,101) (34,110)
Financing activities:    
Proceeds from sale of class A common stock under exercise of employee stock options 1,095 241
Payment of taxes relating to net exercise of employee stock options 0 (3,739)
Excess tax benefits from share-based compensation arrangements 0 1,266
Payments on capital lease obligations and other financing arrangements (6) (122)
Net cash provided by (used in) financing activities 1,089 (2,354)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 2,306 2,266
Net (decrease) increase in cash, cash equivalents, and restricted cash (43,185) 16,629
Cash, cash equivalents and restricted cash, beginning of period 402,712 292,959
Cash, cash equivalents and restricted cash, end of period $ 359,527 $ 309,588