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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 39,895 $ 38,187
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock based compensation expense 3,694 822
Depreciation 8,924 7,003
Amortization of intangibles 803 2,966
Amortization/accretion of premiums or discounts on short-term investments 455  
Deferred income taxes (2,795) 1,378
Loss on disposal of long-lived assets 4  
Loss on impairment of longlived assets   131
Changes in assets and liabilities:    
Accounts receivable (43,021) (25,358)
Prepaid expenses and other current assets (1,499) (1,335)
Income taxes receivable 6,797 4,772
Other assets 308 (831)
Accounts payable (139) 738
Accrued compensation (712) 3,173
Other liabilities 19 148
Deferred rent (241) (35)
Deferred revenue (1,471) (129)
Income taxes payable 8,715 615
Net cash provided by operating activities 19,736 32,245
Cash flows from investing activities:    
Purchases of short-term investments (611,095)  
Maturities and sales of short-term investments 6,429  
Purchases of property and equipment (2,391) (3,312)
Investment in capitalized software (10,282) (7,541)
Proceeds from sale of property and equipment   22
Net cash used in investing activities (617,339) (10,831)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of underwriters' discount 362,082  
Proceeds from issuance of treasury stock, net of underwriters' discount 282,172  
Payment of offering costs (5,182)  
Repayment of credit facility borrowings (10,000)  
Repurchase of common stock   (9,066)
Dividends paid   (2,852)
Capital lease obligations paid (53) (67)
Excess tax benefits from stock based compensation 223  
Proceeds from exercise of stock options 227 57
Net cash provided by (used in) financing activities 629,469 (11,928)
Increase in cash and cash equivalents 31,866 9,486
Cash and cash equivalents, beginning of period 162,567 110,594
Cash and cash equivalents, end of period 194,433 120,080
Supplementary cash flow disclosure:    
Cash paid during the period for: Income taxes, net of refunds 16,924 17,756
Cash paid during the period for: Interest 2,189  
Noncash investing activities:    
Capital lease obligations incurred 175 14
Accounts payable for purchases of and investment in property, equipment and capitalized software 1,576 2,320
Accrued compensation for investment in capitalized software $ 297 $ 616