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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income (loss) $ (315,494) $ 62,170
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Stock-based compensation (1,201) 2,443
Depreciation and amortization of acquired intangible assets 10,168 9,354
Impairment of goodwill 270,625 0
Reduction of right-of-use lease assets 1,625 904
Deferred income taxes 57,898 (972)
Amortization of debt issuance costs 313 172
Accretion of debt discounts 68 38
Other 919 0
Cash provided (used) by changes in operating assets and liabilities:    
Accounts receivable (9,066) (8,395)
Commissions receivable 3,457 1,180
Other receivables (3,239) (42)
Prepaid expenses and other current assets (1,715) (3,085)
Other long-term assets 2,560 (841)
Accounts payable 17,744 6,432
Commissions and advisory fees payable (1,965) (1,544)
Lease liabilities (1,289) 0
Deferred revenue (7,820) (4,524)
Accrued expenses and other current and long-term liabilities 23,276 6,946
Net cash provided by operating activities 46,864 70,236
Investing activities:    
Purchases of property and equipment (7,715) (1,243)
Net cash used by investing activities (7,715) (1,243)
Financing activities:    
Proceeds from credit facilities 55,000 0
Payments on credit facilities (10,313) 0
Proceeds from stock option exercises 0 283
Tax payments from shares withheld for equity awards (918) (2,425)
Contingent consideration payments for business acquisition 0 (943)
Net cash provided (used) by financing activities 43,769 (3,085)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0 15
Net increase in cash, cash equivalents, and restricted cash 82,918 65,923
Cash, cash equivalents, and restricted cash, beginning of period 86,450 85,366
Cash, cash equivalents, and restricted cash, end of period 169,368 151,289
Supplemental cash flow information:    
Cash paid for income taxes 213 1,031
Cash paid for interest 5,011 3,624
Non-cash investing activities    
Purchases of property and equipment through leasehold incentives (investing) $ 4,959 $ 0