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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Income/(Loss) for the year $ (62,709) $ 4,568 $ 366,065
Non-cash items:      
Depreciation and amortization 7,287 6,645 6,665
Impairment of investment in associate 0 0 42,938
Equity settled share-based payment expense 13,950 10,718 14,468
(Gain)/loss on investments held at fair value (179,316) (232,674) 37,863
Realized loss on sale of investments 20,925 54,976 0
Gain on deconsolidation 0 0 264,409
Gain on loss of significant influence 0 0 (445,582)
Loss on disposal of assets (53) (66) (140)
Share of net (income)/loss of associates accounted for using the equity method 73,703 34,117 (30,791)
Fair value gain on derivative (800) 0 0
Income taxes, net 3,756 14,402 112,077
Finance costs, net (5,050) 6,114 46,229
Changes in operating assets and liabilities:      
Accounts receivable (617) (529) 747
Other financial assets 0 0 (48)
Prepaid expenses and other current assets (5,350) (3,371) (25)
Deferred revenues (1,407) (5,223) 186
Trade and other payables 8,338 605 11,166
Other liabilities 0 (7) 3,002
Other (103) 0 0
Income taxes paid 27,766 20,737 0
Interest received 214 1,155 3,648
Interest paid 3,382 2,651 2,495
Net cash used in operating activities (158,274) (131,827) (98,156)
Cash flows from investing activities:      
Purchase of property and equipment 5,571 5,170 12,138
Proceeds from sale of property and equipment 30 0 0
Purchases of intangible assets 90 254 400
Purchase of associate preferred shares held at fair value 0 10,000 13,670
Purchase of investments held at fair value (500) (1,150) (1,556)
Sale of investments held at fair value 218,125 350,586 9,294
Receipt of payment of sublease 381 350 191
Purchase of short-term note from associate 15,000 0 0
Purchase of convertible note 0 0 6,480
Cash derecognized upon loss of control over subsidiary 0 0 (16,036)
Purchases of short-term investments 0 0 69,541
Proceeds from maturity of short-term investments 0 30,116 173,995
Net cash provided by investing activities 197,375 364,478 63,659
Cash flows from financing activities:      
Receipt of PPP loan 0 68 0
Issuance of long term loan 0 14,720 0
Issuance of subsidiary preferred Shares 37,610 13,750 51,048
Proceeds from issuance of convertible notes in subsidiary 2,215 25,000 1,606
Payment of lease liability 3,375 2,908 1,678
Repayments of non-current borrowings 0 0 178
Distribution to Tal shareholders 0 0 112
Exercise of stock options 352 1,036 504
Settlement of RSU's (10,749) (12,888) 0
Vesting of restricted stock units 2,582 0 1,280
Issuance of shares to NCI in subsidiary 66 0 0
Issuance of warrants 0 92 0
Acquisition of a non-controlling Interest of a subsidiary 806 0 0
Other (5) 0 0
Net cash provided by financing activities 22,727 38,869 49,910
Effect of exchange rates on cash and cash equivalents 0 0 (104)
Net increase in cash and cash equivalents 61,827 271,520 15,309
Cash and cash equivalents at beginning of year 403,881 132,360 117,051
Cash and cash equivalents at end of year 465,708 403,881 132,360
Supplemental disclosure of non-cash investment and financing activities:      
Purchase of non controlling interest in consideration for issuance of shares and options 0 0 9,106
Purchase of intangible asset and investment held at fair value in consideration for issuance of warrant liability and assumption of other long and short-term liabilities 0 0 15,894
Purchase of property plant and equipment against trade and other payables (1,841) 0 0
Leasehold improvements purchased through lease incentives (deducted from Right of Use Asset) 1,010 0 10,680
Conversion of subsidiary convertible note into preferred share liabilities 25,797 0 4,894
Conversion of subsidiary convertible note into subsidiary common stock (NCI) 0 0 2,418
Cash paid for income taxes $ 27,766 $ 20,737 $ 176