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Consolidated Balance Sheets (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
ASSETS  
Cash and cash equivalents$ 64,951$ 192,563
Investments44[1]490[1],[2]
Customer funds2,054 
Customer funds receivable19,135 
Accounts receivable, net of allowances of $4,988 and $3,258 as of September 30, 2011 and December 31, 2010, respectively40,53224,273
Prepaid expenses and other current assets25,09217,929
Total current assets151,808235,255
Investments - long-term 2,254[3]
Property and equipment, net20,78018,875
Software and website developments costs, net36,53829,875
Intangible assets, net100,97823,163
Goodwill233,428136,408
Deferred tax assets - long-term25,3871,015
Other assets - long-term13,94912,118
Total assets582,868458,963
LIABILITIES AND STOCKHOLDERS' EQUITY  
Accounts payable5,9595,241
Accrued compensation and benefits15,49310,823
Accrued liabilities - other17,28012,511
Customer funds payable21,189 
Deferred revenue8,2985,010
Deferred tax liabilities 411
Capital leases payable317317
Total current liabilities68,53634,313
Long-term liabilities  
Capital leases payable126165
Deferred tax liabilities38,5909,488
Deferred revenue6,0083,254
Due to acquirees10,336 
Other liabilities4,7912,826
Total long-term liabilities59,85115,733
Total liabilities128,38750,046
Commitments and contingencies (Note 14)  
Stockholders' equity  
Preferred stock, $0.01 par value: 10,000,000 shares authorized and no shares issued and outstanding as of September 30, 2011 and December 31, 2010  
Common stock, $0.01 par value: 175,000,000 shares authorized; 44,565,403 shares issued and 41,467,916 shares outstanding as of September 30, 2011; and 175,000,000 shares authorized; 43,748,237 shares issued and 40,673,042 shares outstanding as of December 31, 2010446437
Treasury stock, at cost, 3,097,487 shares and 3,075,195 shares as of September 30, 2011 and December 31, 2010, respectively(51,529)(51,083)
Additional paid-in capital479,982463,614
Accumulated other comprehensive income5,2367,858
Retained earnings (accumulated deficit)20,346(11,909)
Total stockholders' equity454,481408,917
Total liabilities and stockholders' equity$ 582,868$ 458,963
[1] As of September 30, 2011 and December 31, 2010, Level 1 short-term investments include an investment in a tax-advantaged preferred security, for which we determined fair value based on the quoted market price of the underlying security.
[2] Level 3 short-term investments as of December 31, 2010 included an auction rate security invested in a tax-exempt state government obligation that was valued at par with a value of $0.4 million, or 0.1% of our total assets. Our intent was not to hold the auction rate security invested in a tax-exempt state government obligation to maturity, but rather to use the interest reset feature to provide liquidity. In October 2010, $1.1 million of this security was redeemed by the issuer at par. Due to continued failures in the marketplace auctions, we held the remaining $0.4 million auction rate security until the maturity date in September 2011, when it was redeemed by the issuer at par.
[3] Level 3 long-term investments as of December 31, 2010 included a tax-advantaged preferred stock of a financial institution with a fair value of $2.3 million, or 0.5% of total assets. As of December 31, 2010, it was uncertain whether we would be able to liquidate these securities within the next twelve months; as such we classified them as long-term on our consolidated balance sheet. Due to the lack of observable market quotes, we utilized valuation models that relied exclusively on Level 3 inputs including those that are based on expected cash flow streams, including assessments of counterparty credit quality, default risk underlying the security, discount rates and overall capital market liquidity. In June 2011, we sold this security for approximately $2.5 million and recorded a gain of approximately $0.4 million in our consolidated statement of operations.