XML 18 R7.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:    
Net income $ 30,840 $ 27,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 24,806 26,532
Stock-based compensation expense 12,504 14,111
Amortization of operating lease right-of-use assets 13,703 13,701
Unrealized gain on short term investments (2,842) (4,362)
Unrealized foreign exchange (gain)/loss, net (3,316) 1,967
Deferred income tax expense/(benefit) (663) (2,631)
Allowance for expected credit losses 389 281
Loss from equity-method investment 121 129
Amortization of non-cash interest expense related to convertible senior notes 1,289 1,218
Impairment charges 0 3,167
Others, net (1,204) 961
Change in operating assets and liabilities:    
Accounts receivable 12,380 (16,478)
Prepaid expenses and other current assets (1,091) (2,033)
Advance income tax, net 4,446 1,345
Other assets 3,046 126
Accounts payable 1,943 (2,114)
Deferred revenue 3,066 5,654
Accrued employee costs (23,497) (12,567)
Accrued expenses and other liabilities (4,182) 5,200
Operating lease liabilities (12,831) (13,749)
Net cash provided by operating activities 58,907 47,717
Cash flows from investing activities:    
Purchases of property and equipment (22,051) (22,287)
Investment in equity affiliate (700) 0
Purchase of non-controlling interest 0 (241)
Purchase of investments (49,027) (68,188)
Proceeds from redemption of investments 72,844 91,669
Net cash provided by investing activities 1,066 953
Cash flows from financing activities:    
Principal payments of finance lease liabilities (124) (207)
Proceeds from borrowings 110,000 46,000
Repayments of borrowings (110,210) (79,590)
Payment of debt issuance costs 0 (117)
Acquisition of treasury stock (13,995) (27,538)
Proceeds from exercise of stock options 960 338
Net cash used for financing activities (13,369) (61,114)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,873) (240)
Net increase/(decrease) in cash, cash equivalents and restricted cash 43,731 (12,684)
Cash, cash equivalents and restricted cash at the beginning of the period 127,044 104,131
Cash, cash equivalents and restricted cash at the end of the period $ 170,775 $ 91,447