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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income (loss) $ (11,695) $ 1,988 $ 26,627
Less: Income (loss) from discontinued operations, net of tax 2,597 0 (1,974)
Income (loss) from continuing operations (14,292) 1,988 28,601
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and software 91,410 101,330 114,795
Amortization of acquired intangible assets 14,355 14,498 23,032
Stock-based compensation 81,615 64,821 82,044
Gain on sale of intangible assets 0 0 (17,149)
(Gain) loss on sale of investment 412 0 (7,624)
Impairments of investments 9,961 10,156 2,944
Upward adjustment for observable price change of investment (51,397) 0 0
Deferred income taxes (1,485) (5,000) 603
(Gain) loss from changes in fair value of investments 72,497 9,064 (382)
Amortization of debt discount on convertible senior notes 13,200 11,916 10,758
Change in assets and liabilities, net of acquisitions and dispositions:      
Accounts receivable 13,577 32,057 (18,793)
Prepaid expenses and other current assets 3,176 7,166 4,074
Right-of-use assets - operating leases 26,226    
Accounts payable (17,401) 5,805 (199)
Accrued merchant and supplier payables (109,176) (45,268) (29,823)
Accrued expenses and other current liabilities (26,071) (31,430) (40,361)
Operating lease obligations (28,552)    
Other, net (6,772) 13,752 (21,975)
Net cash provided by (used in) operating activities from continuing operations 71,283 190,855 130,545
Net cash provided by (used in) operating activities from discontinued operations 0 0 (2,418)
Net cash provided by (used in) operating activities 71,283 190,855 128,127
Investing activities      
Purchases of property and equipment and capitalized software (67,328) (69,695) (59,158)
Proceeds from sale of intangible assets 0 1,500 18,333
Proceeds from sales and maturities of investments 3,475 8,594 16,561
Acquisition of business, net of acquired cash 0 (58,119) 0
Acquisitions of intangible assets and other investing activities (3,738) (18,262) (1,059)
Net cash provided by (used in) investing activities from continuing operations (67,591) (135,982) (25,323)
Net cash provided by (used in) investing activities from discontinued operations 0 0 (9,548)
Net cash provided by (used in) investing activities (67,591) (135,982) (34,871)
Financing activities      
Issuance costs for revolving credit agreement (2,384) 0 0
Payments for repurchases of common stock (45,631) (9,585) (61,233)
Taxes paid related to net share settlements of stock-based compensation awards (18,105) (24,105) (27,681)
Proceeds from stock option exercises and employee stock purchase plan 4,123 5,715 5,513
Distributions to noncontrolling interest holders (10,935) (12,576) (12,357)
Payments of finance lease obligations (19,687) (33,023) (34,025)
Payments of contingent consideration related to acquisitions 0 (1,815) (7,790)
Payment of financing obligation related to acquisition 0 (8,391) 0
Other financing activities 0 (637) (473)
Net cash provided by (used in) financing activities (92,619) (84,417) (138,046)
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (3,144) (11,209) 26,499
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (92,071) (40,753) (18,291)
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 0 0 (28,866)
Net increase (decrease) in cash, cash equivalents and restricted cash (92,071) (40,753) 10,575
Cash, cash equivalents and restricted cash, beginning of period [1] 844,728 885,481 874,906
Cash, cash equivalents and restricted cash, end of period [1] 752,657 844,728 885,481
Supplemental disclosure of cash flow information      
Income tax payments (refunds) 11,898 2,781 8,646
Cash paid for interest 9,145 9,556 9,425
Non-cash investing and financing activities      
Equipment acquired under capital lease arrangements (2) [2] 0 18,064 28,271
Restricted Cash [Abstract]      
Cash, cash equivalents and restricted cash [1] 752,657 844,728 874,906
Discontinued Operations      
Supplemental disclosure of cash flow information      
Income tax payments (refunds) $ 0 $ 0 $ (56)
[1]
The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the consolidated balance sheets as of December 31, 2019, 2018 and 2017 (in thousands):
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Cash and cash equivalents
$
750,887

 
$
841,021

 
$
880,129

Restricted cash included in prepaid expenses and other current assets
1,534

 
3,320

 
4,932

Restricted cash included in other non-current assets
236

 
387

 
420

Cash, cash equivalents and restricted cash
$
752,657

 
$
844,728

 
$
885,481


[2]
Please refer to Note 10, Leases, for supplemental cash flow information on our leasing obligations, as required by our adoption of Accounting Standards Update ("ASU") 2016-02, Leases ("Topic 842"), on January 1, 2019.