XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 133,153 $ 148,417
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 52,235 38,413
Amortization of deferred commissions costs 29,662 25,550
Amortization of debt issuance costs 508 438
Realized loss on investments 541 0
Non-cash lease expense 12,400 10,859
Stock-based compensation expense 24,053 25,845
Deferred income taxes, net 3,569 6,359
Credit loss expense 15,688 5,224
Foreign currency, net (789) 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (37,364) (10,898)
Income taxes payable 12,328 (5,577)
Prepaid expenses and other current assets 4,371 1,751
Deferred commissions (32,122) (33,397)
Other assets (6,757) 236
Accounts payable and other liabilities 37,793 22,691
Lease liabilities (14,126) (12,977)
Deferred revenue 13,503 10,633
Net cash provided by operating activities 248,646 233,567
Investing activities:    
Proceeds from sale and settlement of investments 10,259 0
Purchases of property and equipment and other assets (12,782) (14,387)
Cash paid for acquisitions, net of cash acquired 184,502 13,721
Net cash used in investing activities (187,025) (28,108)
Financing activities:    
Proceeds from long-term debt 745,000 0
Repurchase of restricted stock to satisfy tax withholding obligations (33,653) (24,225)
Proceeds from equity offering, net of transaction costs 1,690,148 0
Proceeds from exercise of stock options and employee stock purchase plan 16,513 16,695
Other financing activities (1,650) (123)
Net cash provided by (used in) financing activities 2,416,358 (7,653)
Effect of foreign currency exchange rates on cash and cash equivalents (305) (410)
Net increase in cash, cash equivalents and restricted cash 2,477,674 197,396
Cash, cash equivalents and restricted cash at the beginning of period 1,070,731 1,100,416
Cash, cash equivalents and restricted cash at the end of period 3,548,405 1,297,812
Supplemental cash flow disclosures:    
Interest paid 5,194 1,007
Income taxes paid 6,558 28,484
Supplemental non-cash investing and financing activities:    
Consideration owed for acquisitions $ 0 $ 1,650