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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 39,835 $ 29,009
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,993 6,118
Amortization of debt issuance costs 59 63
Net loss on disposition of property and equipment   3
Stock-based compensation expense 17,524 4,817
Deferred income taxes, net (6,760) (4,936)
Changes in operating assets and liabilities:    
Accounts receivable (464) (421)
Prepaid expenses (1,262) (605)
Inventory 434 652
Deposits and other assets (111) 350
Accounts payable (319) 2,619
Income taxes, net (2,855) 12,114
Accrued commissions and bonuses (2,767) (5,635)
Accrued payroll and vacation 1,088 3,640
Deferred revenue 5,293 4,675
Accrued expenses and other current liabilities (3,395) 2,091
Net cash provided by operating activities 55,293 54,554
Cash flows from investing activities    
Net change in funds held for clients 71,229 (337,611)
Purchases of property and equipment (21,909) (24,340)
Net cash provided by (used in) investing activities 49,320 (361,951)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 5,440 3,903
Repurchases of common stock (15,187) (3,490)
Withholding taxes paid related to net share settlement (14,973)  
Principal payments on long-term debt (562) (448)
Net change in client funds obligation (71,229) 337,611
Payment of debt issuance costs (143)  
Net cash (used in) provided by financing activities (96,654) 337,576
Increase in cash and cash equivalents 7,959 30,179
Cash and cash equivalents    
Beginning of period 60,158 50,714
End of period $ 68,117 $ 80,893