XML 23 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 42,190 $ 32,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation & amortization 5,074 6,712
Stock-based compensation expense 4,402 5,385
Deferred income taxes (2,702) (3,708)
Loss on disposal of property and equipment 7 26
Changes in operating assets and liabilities:    
(Increase) in trade accounts receivable, net (1,660) (21,153)
Decrease in prepaid expenses & other current assets 453 3,673
(Increase) decrease in other assets (31) 13
Increase in accounts payable 10,192 13,833
(Decrease) in accrued expenses (2,468) (847)
Increase (decrease) in other current liabilities 155 (432)
Increase in other long-term liabilities 1,564 475
Net cash provided by operating activities 57,176 36,971
Cash flows from investing activities:    
Purchases of property and equipment (3,927) (3,257)
Proceeds from sale of property and equipment 6 3
Capitalized internal use software development costs (1,762) (624)
Net cash used in investing activities (5,683) (3,878)
Cash flows from financing activities:    
Proceeds from employee common stock purchases 1,114 1,131
Tax deductions related to stock-based compensation 435 236
Net cash provided by financing activities 1,549 1,367
Net increase in cash 53,042 34,460
Cash, beginning of period 98,388 87,983
Cash, end of period 151,430 122,443
Non-cash investing activities:    
Capital expenditures accrued but not yet paid   86
Cash payments:    
Income taxes paid 17,268 $ 19,509
Cash dividends on common stock previously restricted for payment of dividend $ 36,456