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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 52,869 $ 58,243
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 35,345 28,771
Stock-based compensation expense 17,311 16,771
Unrealized gain on short term investments (5,423) (4,437)
Unrealized foreign exchange (gain)/loss, net (14,375) 446
Deferred income tax benefit (986) (5,417)
Allowances for doubtful accounts receivable (620) 2,706
Loss from equity-method investment 176 0
Others, net 193 12
Change in operating assets and liabilities:    
Accounts receivable (9,354) (22,064)
Prepaid expenses and other current assets (3,344) 5,194
Accounts payable (1,414) 371
Deferred revenue (5,199) (8,155)
Accrued employee costs (7,680) (915)
Accrued expenses and other liabilities (436) 267
Advance income tax, net (4,228) (2,607)
Other assets (5,984) 1,241
Net cash provided by operating activities 46,851 70,427
Cash flows from investing activities:    
Purchase of property and equipment (30,070) (26,759)
Business acquisition (net of cash acquired) (231,918) (724)
Purchase of investments (57,957) (197,897)
Proceeds from redemption of investments 79,536 54,238
Net cash used for investing activities (240,409) (171,142)
Cash flows from financing activities:    
Principal payments on capital lease obligations (105) (133)
Proceeds from borrowings 245,000 0
Repayments of borrowings (5,083) 0
Acquisition of treasury stock (32,793) (32,336)
Proceeds from exercise of stock options 1,084 4,276
Net cash provided by/(used for) financing activities 208,103 (28,193)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3,008) 1,802
Net increase/(decrease) in cash, cash equivalents, and restricted cash 11,537 (127,106)
Cash, cash equivalents, and restricted cash at beginning of period 94,277 220,394
Cash, cash equivalents, and restricted cash at end of period $ 105,814 $ 93,288