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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
[1]
OPERATING ACTIVITIES:    
Net income attributable to common stockholders $ 23,404 $ 11,874 [2]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,250 31,470 [2]
Bad debt expense 19,285 15,239
Stock-based compensation 85,732 75,007
Other adjustments (2,793) 280
Changes in operating assets and liabilities:    
Accounts receivable (24,956) (19,810)
Prepaid expenses and other assets (2,085) (2,077)
Accounts payable, accrued expenses and other liabilities (13,647) 15,628
Deferred revenue (75) 350
Net cash provided by operating activities 116,115 127,961
INVESTING ACTIVITIES:    
Purchases of marketable securities (572,788) (179,557)
Maturities of marketable securities 460,800 191,000
Acquisition of a business, net of cash received 0 (50,544)
Purchases of property, equipment and software (18,699) (7,892)
Capitalized website and software development costs (15,238) (12,236)
Other investing activities 64 69
Net cash used in investing activities (145,861) (59,160)
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock for employee stock-based plans 21,835 29,556
Repurchases of common stock (71,993) (7,743)
Taxes paid related to the net share settlement of equity awards (41,081) 0
Net cash (used in) provided by financing activities (91,239) 21,813
Effect of exchange rate changes on cash, cash equivalents and restricted cash 197 864
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (120,788) 91,478
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 566,404 289,518
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period 445,616 380,996
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:    
Cash paid for income taxes, net 28,820 82
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property, equipment and software recorded in accounts payable, accrued expenses and other liabilities 2,393 3,555
Tax liability related to net share settlement of equity awards included in accrued liabilities $ 1,679 $ 0
[1] As of January 1, 2018, the Company adopted ASC 606 using the full retrospective method. Accordingly, the Company has recast certain amounts in the prior period presented. Also as of January 1, 2018, the Company adopted Accounting Standards Update No. 2016-18, "Statement of Cash Flows (Subtopic 230): Restricted Cash," and recast the prior period presented. See Note 1 below for additional discussion.
[2] As of January 1, 2018, the Company adopted ASC 606 using the full retrospective method. Accordingly, the Company has recast certain amounts in the prior periods presented. See Note 1 below for additional discussion.