XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 72,481 $ 78,657
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,761 50,440
Amortization of debt issue costs and accretion of discount 1,530 1,256
Operating lease amortization 4,377 3,966
Provision for expected credit losses and sundry losses 1,732 3,224
Deferred tax benefit (2,082) (4,197)
Share-based compensation 10,785 10,168
Loss on disposition of property and equipment and other intangibles 753 691
Earnings of equity method investment (733) (726)
Dividend received from equity method investment 0 485
Decrease (increase) in assets:    
Accounts receivable, net (7,096) 6,475
Prepaid expenses and other assets (7,138) (7,268)
Other long-term assets 284 (1,450)
(Decrease) increase in liabilities:    
Accrued liabilities and accounts payable (7,969) (6,834)
Income tax payable 1,548 (2,080)
Unearned income 2,350 6,718
Operating lease liabilities (5,720) (4,825)
Other long-term liabilities 2,296 1,467
Total adjustments 48,678 57,510
Net cash provided by operating activities 121,159 136,167
Cash flows from investing activities    
Additions to software (23,521) (27,969)
Property and equipment acquired (13,402) (21,994)
Proceeds from sales of property and equipment 3 101
Net cash used in investing activities (36,920) (49,862)
Cash flows from financing activities    
Statutory withholding taxes paid on share-based compensation (3,456) (6,304)
Repayment of short-term borrowings for purchase of equipment and software (1,553) (852)
Dividends paid (10,786) (10,824)
Repurchase of common stock (7,300) (28,449)
Repayment of long-term debt (27,685) (10,688)
Net cash used in financing activities (50,780) (57,117)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (2,384) 0
Net increase in cash, cash equivalents and restricted cash 31,075 29,188
Cash, cash equivalents and restricted cash at beginning of the period 131,121 86,746
Cash, cash equivalents and restricted cash at end of the period 162,196 115,934
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 144,147 102,535
Restricted cash 18,049 13,399
Cash, cash equivalents and restricted cash 162,196 115,934
Supplemental disclosure of cash flow information:    
Cash paid for interest 18,081 21,668
Cash paid for income taxes 15,257 12,535
Supplemental disclosure of non-cash activities:    
Payable due to vendor related to equipment and software acquired $ 1,486 $ 2,707