XML 23 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Consolidated net income (loss) $ 14,816 $ (70,518)
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 15,117 15,518
Non-cash operating lease cost 3,029 2,992
Stock-based compensation to employees and directors 5,733 9,156
Impairment of equity securities 0 4,214
Losses on equity method securities 6,013 3,058
Gain on disposal of business 10,705 0
Other non-cash adjustments 1,960 1,360
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net (24,652) 12,295
Inventories (500) 2,231
Prepaids and other current assets (3,178) 3,311
Other long-term assets, net 171 (547)
Accounts payable 54,952 (31,722)
Accrued liabilities 61,625 (5,317)
Unearned revenue 48,109 (9,628)
Operating lease liabilities (3,612) (2,340)
Other long-term liabilities 1,565 85
Net cash provided by (used in) operating activities 170,443 (65,852)
Cash flows from investing activities:    
Purchase of equity securities (170) (2,500)
Proceeds from sale of equity securities and marketable securities 6,306 7,082
Acquisitions of businesses, net of cash acquired 0 4,886
Expenditures for property and equipment (9,399) (10,586)
Deconsolidation of cash of Medici Land Governance, Inc. (4,056) 0
Other investing activities, net (659) (1,997)
Net cash used in investing activities (7,978) (3,115)
Cash flows from financing activities:    
Payment on long-term debt (779) 0
Proceeds from long-term debt 47,500 0
Proceeds from sale of common stock, net of offering costs 2,848 52,112
Payments of taxes withheld upon vesting of restricted stock (1,730) (1,346)
Other financing activities, net (3,992) (1,006)
Net cash provided by financing activities 43,847 49,760
Net increase (decrease) in cash, cash equivalents and restricted cash 206,312 (19,207)
Cash, cash equivalents and restricted cash, beginning of period 114,898 142,814
Cash, cash equivalents and restricted cash, end of period 321,210 123,607
Cash paid during the period:    
Interest paid, net of amounts capitalized 588 173
Income taxes paid (refunded), net 65 (469)
Non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued liabilities 1,053 43
Recognition of right-of-use assets upon adoption of ASC 842 0 30,968
Deposit applied to business combination purchase price 0 7,347
Equity method security applied to business combination purchase price $ 0 $ 3,800