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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash from operating activities    
Net income $ 158,916 $ 31,854
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,751 16,169
Amortization of operating lease right-of-use assets 2,973 3,016
Deferred income taxes 22,878 (27,032)
Stock-based compensation 6,808 5,431
Gain on sale of business (187,636) 0
Other 170 136
Changes in operating assets and liabilities:    
Accounts receivable (2,229) (2,778)
Prepaid expenses and other current assets (859) (4,403)
Other assets (320) 1,129
Accounts payable 695 270
Accrued employee expenses 1,919 486
Accrued expenses 5,931 (14)
Deferred revenue 815 1,039
Operating lease liabilities (1,135) (2,886)
Other liabilities 16,539 996
Net cash provided by operating activities 45,216 23,413
Cash from investing activities    
Purchases of available-for-sale investments (29,879) (10,690)
Proceeds from sales of available-for-sale investments 13,942 2,750
Proceeds from maturities of available-for-sale investments 13,300 11,000
Purchases of property, equipment and intangible assets (16,551) (4,115)
Additions to capitalized software (19,697) (15,669)
Cash paid in business acquisition, net of cash acquired 0 (54,004)
Proceeds from sale of business, net of cash divested 191,427 0
Net cash provided by (used in) investing activities 152,542 (70,728)
Cash from financing activities    
Proceeds from stock option exercises 402 259
Tax withholding for net share settlement (10,959) (5,541)
Payment of contingent consideration (5,977) 0
Proceeds from issuance of debt 50,752 1,697
Principal payments on debt (99,565) (2,634)
Payment of debt issuance costs 0 (420)
Purchase of treasury stock (4,194) 0
Net cash used in financing activities (69,541) (6,639)
Net increase (decrease) in cash, cash equivalents and restricted cash 128,217 (53,954)
Cash, cash equivalents and restricted cash    
Beginning of period 16,247 74,506
End of period 144,464 20,552
Noncash investing and financing activities    
Purchases of property and equipment included in accounts payable and accrued expenses 1,748 1,613
Additions of capitalized software included in accrued and accrued employee expenses 756 601
Stock-based compensation capitalized for software development 1,535 1,321
Purchase consideration for acquisitions included in other current liabilities 0 5,977
Total cash, cash equivalents and restricted cash $ 144,464 $ 20,552