XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 152,162 $ 106,550 $ 128,996
Less: Income/(loss) from discontinued operations, net of tax 2,315 (1,466) (556)
Less: Gain/(loss) from sale of discontinued operations, net of tax 313 (1,930) 0
Net income from continuing operations 149,534 109,946 129,552
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 177,806 172,578 150,377
Amortization of debt issuance costs 5,650 5,785 6,259
Provision for bad debts and claim losses 16,725 18,869 8,260
Share-based compensation 35,867 39,849 35,786
Tax benefit related to stock options 0 (2,315) (6,513)
Equity in losses/(earnings) of investee, net of taxes 1,186 (496) (13,720)
(Gain)/loss on sale of property and equipment (246) (31) 24
Loss on early extinguishment of debt 1,775 26,624 1,589
Deferred income tax (40,769) 18,213 35,110
Impairment loss on investment in affiliates 3,811 23,431 0
Tax indemnification release 0 23,350 0
Loss/(gain) on investments and other, net 2,316 (19,779) (33,831)
Change in operating assets and liabilities, net of acquisitions:      
Accounts receivable 15,522 (24,391) (15,400)
Prepaid expenses and other assets 4,942 2,823 7,104
Accounts payable and accrued expenses (44,629) (29,267) (45,289)
Deferred revenue 36,577 53,682 68,410
Income taxes (43) 28,740 (32,771)
Dividends received from investments in affiliates 1,198 9,044 30,084
Other assets and other liabilities 12,708 (42,652) 11,118
Net cash provided by operating activities - continuing operations 379,930 414,003 336,149
Net cash provided by/(used in) operating activities - discontinued operations 3,655 (444) (7,612)
Total cash provided by operating activities 383,585 413,559 328,537
Cash flows from investing activities:      
Purchases of subsidiary shares from and other decreases in noncontrolling interests 0 (18,023) 0
Purchases of property and equipment (40,508) (45,211) (44,149)
Purchases of capitalized data and other intangible assets (34,990) (35,507) (36,409)
Cash paid for acquisitions, net of cash acquired (189,923) (396,941) (194,491)
Purchases of investments (5,900) (3,366) (3,748)
Proceeds from sale of marketable securities 0 21,819 0
Proceeds from sale of property and equipment 335 31 137
Proceeds from sale of investments 1,000 2,451 0
Change in restricted cash 7,947 (7,017) 1,434
Net cash used in investing activities - continuing operations (262,039) (481,764) (277,226)
Net cash provided by investing activities - discontinued operations 0 0 0
Total cash used in investing activities (262,039) (481,764) (277,226)
Cash flows from financing activities:      
Proceeds from long-term debt 1,995,000 962,000 114,375
Debt issuance costs (14,294) (6,314) (6,452)
Debt extinguishment premium 0 (16,271) 0
Repayments of long-term debt (1,842,290) (709,983) (82,891)
Shares repurchased and retired (207,416) (195,003) (97,430)
Proceeds from issuance of shares in connection with share-based compensation 9,595 14,907 22,569
Minimum tax withholdings related to net share settlements (14,043) (10,507) (15,230)
Tax benefit related to stock options 0 2,315 6,513
Net cash (used in)/provided by financing activities - continuing operations (73,448) 41,144 (58,546)
Net cash used in financing activities - discontinued operations 0 0 0
Total cash (used in)/provided by financing activities (73,448) 41,144 (58,546)
Effect of exchange rate on cash (1,325) 2 2,182
Net change in cash and cash equivalents 46,773 (27,059) (5,053)
Cash and cash equivalents at beginning of year 72,031 99,090 104,677
Less: Change in cash and cash equivalents of discontinued operations 3,655 (444) (7,612)
Plus: Cash swept from/(to) discontinued operations 3,655 (444) (8,146)
Cash and cash equivalents at end of year 118,804 72,031 99,090
Supplemental disclosures of cash flow information:      
Cash paid for interest 53,455 58,566 64,679
Cash paid for income taxes 71,697 31,382 47,783
Cash refunds from income taxes 9,413 537 3,737
Capital expenditures included in accounts payable and accrued liabilities $ 5,524 $ 23,108 $ 5,909