XML 10 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (105,891) $ (38,151)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 20,061 18,971
Non-cash interest and other 12,411 8,224
Loss on extinguishment of long-term debt 990 0
Share-based compensation 77,303 61,088
Loss on revaluation of equity investment 0 14,087
Non-cash lease expense 15,125 6,690
Recovery of common stock in connection with indemnification settlement agreement 0 (789)
Transaction and loan losses 108,883 27,841
Change in deferred income taxes (984) (754)
Changes in operating assets and liabilities:    
Settlements receivable 60,248 (1,027,472)
Customer funds (210,201) (109,439)
Purchase of loans held for sale (573,502) (507,755)
Sales and principal payments of loans held for sale 555,584 467,518
Customers payable 212,929 912,749
Settlements payable (6,684) 211,984
Charge-offs to accrued transaction losses (17,413) (17,443)
Other assets and liabilities (27,563) 5,095
Net cash provided by operating activities 121,296 32,444
Cash flows from investing activities:    
Purchase of marketable debt securities (363,874) (193,673)
Proceeds from maturities of marketable debt securities 98,146 111,505
Proceeds from sale of marketable debt securities 247,027 44,810
Purchase of marketable debt securities from customer funds (144,494) (34,613)
Proceeds from maturities of marketable debt securities from customer funds 65,000 33,000
Proceeds from sale of marketable debt securities from customer funds 22,457 0
Purchase of property and equipment (26,137) (18,168)
Payments for other investments 0 (2,000)
Business combinations, net of cash acquired (12,742) (11,248)
Net cash used in investing activities (114,617) (70,387)
Cash flows from financing activities:    
Proceeds from issuance of convertible senior notes, net 986,241 0
Purchase of convertible senior note hedges (149,200) 0
Proceeds from issuance of warrants 99,500 0
Payments for tax withholding related to vesting of restricted stock units (48,772) (50,801)
Proceeds from the exercise of stock options, net 31,406 25,328
Other financing activities (1,055) (1,379)
Net cash provided by (used in) financing activities 918,120 (26,852)
Effect of foreign exchange rate on cash and cash equivalents (13,588) 1,277
Net increase (decrease) in cash, cash equivalents, and restricted cash 911,211 (63,518)
Cash, cash equivalents, and restricted cash, beginning of period 1,098,706 632,847
Cash, cash equivalents, and restricted cash, end of period $ 2,009,917 $ 569,329