Supplemental Cash Flows Information

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flows Information

Supplemental Cash Flows InformationCash paid for interest on outstanding debt during the years ended December 31, 2021, 2020 and 2019 was $54.5 million, $106.0 million, and $55.4 million, respectively, which is the primary contributor for total cash paid for interest.

Cash paid for income taxes net of refunds received was $61.2 million, $45.0 million, and $45.9 million during the years ended December 31, 2021, 2020 and 2019, respectively.

During the years ended December 31, 2021, 2020 and 2019, the Company recorded the tax benefit from the exercise of stock options and restricted stock as a reduction of its income tax liability of $11.3 million, $2.9 million, and $4.8 million, respectively.

During the year ended December 31, 2021, in a non-cash transaction, the Company exchanged the senior notes due 2028 provided by Consensus with the lenders under the Credit Agreement and Credit Agreement Amendments by and among the subsidiaries of Ziff Davis party thereto as guarantors, Citicorp North America Inc. and MUFG Union Bank, N.A. and MUFG Union Bank, N.A., as administrative agent for the lenders, in exchange for the extinguishment of the indebtedness outstanding of $485.0 million under the Bridge Loan Facility (see Note 10 - Debt).

During the year ended December 31, 2021, the Company issued 3,050,850 shares of the Company’s common stock under the redemption of the 3.25% Convertible Notes at a price of approximately $390.5 million, net of tax (See Note 14 - Stockholder’s Equity),

In the first quarter of 2020, in a non-cash transaction of $18.3 million, the Company exchanged shares of redeemable preferred stock that were previously classified as available-for-sale corporate debt securities for a new series of preferred stock, classified as equity securities without a readily determinable fair value (see Note 5 - Investments).