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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss $ (163,273) $ (67,525)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 29,026 20,525
Share-based compensation expense 43,795 66,124
Amortization of right of use assets 6,465 4,440
Amortization of contract cost assets 8,415 8,746
Amortization of discount and issuance costs on convertible senior notes maturing in 2021, 2023, 2024 and 2026 22,547 8,840
Impairment costs 76,800 0
Deferred income taxes (9,228) (2,500)
Loss on disposal of property and equipment and other assets 1,952 1,704
Credit loss expense 558 128
Net loss on investment securities 434 0
Accretion of bond discount (473) (1,733)
Changes in operating assets and liabilities:    
Accounts receivable (5,335) (4,650)
Mortgage loans held for sale (341) 5,940
Inventory 302,593 (162,325)
Prepaid expenses and other assets (2,916) (8,537)
Lease liabilities (1,625) (7,010)
Contract cost assets (9,771) (9,103)
Accounts payable 7,673 (133)
Accrued expenses and other current liabilities 4,588 328
Accrued compensation and benefits (4,967) (1,088)
Deferred revenue (4,400) 2,025
Other long-term liabilities (527) 290
Net cash provided by (used in) operating activities 301,990 (145,514)
Investing activities    
Proceeds from maturities of investments 296,272 302,187
Proceeds from sales of investments 53,997 0
Purchases of investments (58,459) (176,412)
Purchases of property and equipment (32,966) (14,202)
Purchases of intangible assets (4,503) (3,269)
Net cash provided by investing activities 254,341 108,304
Financing activities    
Proceeds from borrowings on credit facilities 34,460 129,328
Repayments of borrowings on credit facilities (294,150) 0
Net borrowings (repayments) on warehouse lines of credit and repurchase agreement 4,386 (5,025)
Proceeds from exercise of stock options 92,202 13,564
Value of equity awards withheld for tax liability 0 2
Net cash provided by (used in) financing activities (163,102) 137,869
Net increase in cash, cash equivalents and restricted cash during period 393,229 100,659
Cash, cash equivalents and restricted cash at beginning of period 1,230,909 663,443
Cash, cash equivalents and restricted cash at end of period 1,624,138 764,102
Supplemental disclosures of cash flow information    
Cash paid for interest 17,038 4,956
Noncash transactions:    
Capitalized share-based compensation 3,670 2,690
Write-off of fully depreciated property and equipment 4,143 6,269
Write-off of fully amortized intangible assets 0 3,200
Property and equipment purchased on account $ 9,445 $ 4,792