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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 17,369 $ 26,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 12,325 6,352
Depreciation 27,129 20,368
Amortization of intangibles 11,385 5,426
Amortization of premiums on short-term investments 1,571 2,502
Realized gains on short-term investments 0 (4)
Tax payments for equity award issuances 0 95
Deferred income taxes (1,540) (3,110)
Excess tax benefits from stock-based compensation 0 (1,135)
Loss (Gain) on disposal of equipment 381 (534)
Change in fair value of contingent consideration (2,900) 706
Bad debt expense 0 79
Changes in assets and liabilities:    
Accounts receivable 5,259 1,332
Prepaid expenses and other current assets 1,931 (3,604)
Income taxes receivable 11,174 7,677
Other assets (2,722) 4,189
Accounts payable 5,653 (5,903)
Accrued compensation 1,346 2,090
Other liabilities (4,210) 5,866
Deferred rent (696) (557)
Deferred revenue (2,507) 361
Net cash provided by operating activities 80,948 68,619
Cash flows from investing activities:    
Maturities of short-term investments 150,696 248,998
Sales of short-term investments 0 31,549
Purchases of short-term investments 0 (164,737)
Purchases of property and equipment (17,544) (11,267)
Investment in capitalized software (21,741) (14,220)
Acquisitions, net of cash acquired of $1,535 (3,490) 0
Net cash provided by investing activities 107,921 90,323
Cash flows from financing activities:    
Repurchase of common stock (64,986) (51,118)
Repayment of credit facility borrowings (22,500) (11,250)
Proceeds from exercise of stock options 3,781 5,111
Acquisition-related contingent consideration 0 (2,300)
Capital lease obligations paid (84) (31)
Tax payments for equity award issuances (208) (137)
Excess tax benefits from stock-based compensation 0 1,135
Net cash used in financing activities (83,997) (58,590)
Increase in cash and cash equivalents 104,872 100,352
Cash and cash equivalents, beginning of period 127,683 114,034
Cash and cash equivalents, end of period 232,555 214,386
Supplementary cash flow disclosure:    
Cash paid during the period for: Income taxes, net of refunds 725 10,014
Cash paid during the period for: Interest 4,416 3,600
Non-cash investing activities:    
Accruals for purchases of property, equipment 8,295 816
Accruals for investment in capitalized software $ 3,892 $ 492