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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES - continuing operations      
Net income (loss) $ 171,543 $ 65,849 $ (100,345)
(Income) loss from discontinued operations, including gain on sale, net of tax (193,877) (79,399) 67,569
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:      
Depreciation and amortization 719 134 382
Equity-based compensation 15,231 11,859 23,443
Impairment related and other 8,453 0 290
Other (income) loss, net (5,880) (2,988) (1,532)
Income tax (benefit) expense related to income from discontinued operations (11,838) (7,939) 0
Changes in operating assets and liabilities - net of acquisitions:      
Prepaid expenses and other assets (1,213) 698 1,374
Accounts payable (946) 684 (89)
Accrued expenses (6,107) (892) 522
Accrued compensation and benefits (5,173) (674) (547)
Other liabilities 0 (32) (27)
Cash flows provided by (used in) operating activities (29,088) (12,700) (8,960)
INVESTING ACTIVITIES - continuing operations      
Capital expenditures, net (52) (12) (37)
Proceeds from sales/distributions of ownership interests 334,090 125,933 1,415
Ownership acquisition, net of cash acquired (97) (700) (1,257)
Cash flows provided by (used in) investing activities 333,941 125,221 121
FINANCING ACTIVITIES – continuing operations      
Acquisition of noncontrolling interests in subsidiary equity 0 0 (5,288)
Purchase of treasury stock (30,434) (74,265) (1,702)
Tax withholdings related to equity-based awards (15,965) (1,828) (4,279)
Financing activities with discontinued operations, net 0 (14,250) (14,192)
Cash flows provided by (used in) financing activities (46,399) (90,343) (25,461)
Net increase (decrease) in cash and cash equivalents from continuing operations 258,454 22,178 (34,300)
Discontinued operations:      
Cash flows provided by (used in) operating activities (14,351) 747 8,400
Cash flows provided by (used in) investing activities (1,508) (9,321) (8,888)
Cash flows provided by (used in) financing activities 0 7,388 8,093
Effect of exchange rate on cash flows and cash equivalents (99) 59 (126)
Net increase (decrease) in cash and cash equivalents from discontinued operations (15,958) (1,127) 7,479
Cash and cash equivalents at beginning of period - discontinued operations 20,834 21,961 14,482
Less: cash and cash equivalents at end of period - discontinued operations 4,876 20,834 21,961
Cash and cash equivalents at beginning of period 76,530 54,352 88,652
Cash and cash equivalents at end of period $ 334,984 $ 76,530 $ 54,352