XML 38 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,922 $ 7,045
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 2,721 2,390
Provision for doubtful accounts 260 166
Deferred taxes 35 8,138
Intangible asset amortization 12,357 8,740
Tenant allowance amortization (79) (79)
Stock-based compensation 6,265 4,687
Deferred rent (36) 76
Investment premium amortization 532  
Change in assets and liabilities, net of the effects of business acquisitions:    
Accounts receivable (8,460) (8,725)
Prepaid expenses and other assets (485) (1,592)
Restaurant food liability 3,052 6,241
Accounts payable (3,957) (962)
Accrued payroll (3,000) 1,721
Other accruals 1,417 2,439
Net cash provided by operating activities 30,544 30,285
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investments (65,645)  
Proceeds from maturity of investments 64,618  
Capitalized website and development costs (3,104) (1,112)
Purchases of property and equipment (1,201) (2,378)
Acquisitions of businesses, net of cash acquired (55,687)  
Net cash used in investing activities (61,019) (3,490)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from the issuance of common stock   94,927
Repurchases of common stock   (116)
Proceeds from exercise of stock options 9,777 1,145
Excess tax benefit related to stock-based compensation 14,421  
Taxes paid related to net settlement of stock-based compensation awards   (2,061)
Preferred stock tax distributions   (320)
Net cash provided by financing activities 24,198 93,575
Net change in cash and cash equivalents (6,277) 120,370
Effect of exchange rates on cash 76 184
Cash and cash equivalents at beginning of year 201,796 86,542
Cash and cash equivalents at end of the period 195,595 207,096
SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS    
Fair value of common stock issued for acquisitions 15,980  
Cash paid for income taxes   1,321
Capitalized property, equipment and website and development costs in accounts payable at period end $ 580 0
Cashless exercise of stock options   1,049
Cashless Exercise    
SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS    
Settlement of receivable through cashless acquisition of treasury shares in connection with the cashless exercise of stock options   $ (3,109)