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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 67,659 $ 56,726 $ 48,888
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 52,193 48,719 38,984
Stock-based compensation expense 26,070 23,901 23,041
Amortization of operating lease right-of-use assets 27,335 0 0
Unrealized gain on short term investments (10,116) (7,696) 0
Unrealized foreign exchange (gain)/loss, net (321) (8,620) 1,523
Deferred income tax (benefit)/expense (12,345) (625) 731
Allowance for doubtful accounts receivable 614 (573) 2,816
Loss from equity-method investment 269 247 0
Amortization of non-cash interest expense related to convertible senior notes 2,472 0 0
Impairment charges 3,627 20,056 0
Others, net (1,205) 903 252
Change in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable (7,093) (10,046) (20,482)
Prepaid expenses and other current assets 1,215 (4,509) 218
Advance income tax, net 7,194 (14,147) 11,037
Other assets (2,204) (6,800) (2,224)
Accounts payable 134 (360) 1,706
Deferred revenue 6,679 (4,929) (6,625)
Accrued employee costs 16,915 1,272 6,391
Accrued expenses and other liabilities 14,141 (1,084) 6,903
Operating lease liabilities (24,813) 0 0
Net cash provided by operating activities 168,420 92,435 113,159
Cash flows from investing activities:      
Purchases of property and equipment (40,138) (40,437) (35,154)
Investment in equity affiliate 0 0 (3,000)
Purchase of non-controlling interest (241) 0 0
Business acquisition (net of cash acquired) 0 (231,829) (23,300)
Purchase of investments (187,974) (133,434) (402,721)
Proceeds from redemption of investments 176,968 128,208 241,439
Net cash used for investing activities (51,385) (277,492) (222,736)
Cash flows from financing activities:      
Principal payments of finance lease liabilities (336) (152) (174)
Proceeds from borrowings 46,000 246,614 60,574
Repayments of borrowings (98,247) (155,209) (45,192)
Proceeds from convertible notes 0 149,000 0
Payment of debt issuance costs (117) (762) (790)
Acquisition of treasury stock (41,364) (43,109) (43,454)
Proceeds from exercise of stock options 987 1,397 8,561
Net cash (used for)/provided by financing activities (93,077) 197,779 (20,475)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,045) (2,868) 3,935
Net increase/(decrease) in cash, cash equivalents and restricted cash 22,913 9,854 (126,117)
Cash, cash equivalents and restricted cash at the beginning of the period 104,131 94,277 220,394
Cash, cash equivalents and restricted cash at the end of the period 127,044 104,131 94,277
Supplemental disclosure of cash flow information:      
Restricted common stock issued for business acquisition 0 4,080 0
Cash paid for interest 10,649 4,725 1,122
Cash paid for taxes, net of refund 19,087 18,508 19,128
Assets acquired under finance lease $ 506 $ 277 $ 301