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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Operating Activities      
Net (loss) income $ (20,719) $ 536,112 $ 319,361
Loss (income) from discontinued operations 42,704 (66,257) (104,228)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Amortization and impairment of intangible assets 82,878 70,494 224,750
Depreciation and amortization of property and equipment 87,137 107,954 102,207
Amortization of debt discount and transaction costs 38,298 37,085 36,013
Stock-based compensation expense 165,120 152,739 128,262
Deferred income tax expense (benefit) 94,158 (21,654) (85,235)
Excess tax benefit from stock-based compensation 0 (16,049) (5,873)
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies (7,645) 5,189 13,815
Other non-cash items 11,924 8,618 6,767
Total adjustments to reconcile net (loss) income to net cash provided by operating activities 471,870 344,376 420,706
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable (33,904) (61,662) (8,866)
Inventories (2,545) (4,133) 703
Prepaid expenses and other current assets (18,327) (12,077) (10,257)
Other assets 2,116 (2,747) (1,487)
Income taxes, net 318,795 42,431 48,675
Accounts payable (7,238) (16,365) 6,408
Accrued expenses and other current liabilities 34,886 22,650 49,662
Deferred revenues 174,426 142,381 102,330
Other liabilities 2,282 22,459 8,900
Total changes in operating assets and liabilities, net of the effects of acquisitions 470,491 132,937 196,068
Net cash provided by operating activities of continuing operations 964,346 947,168 831,907
Net cash (used in) provided by operating activities of discontinued operations (56,070) 168,662 202,641
Net cash provided by operating activities 908,276 1,115,830 1,034,548
Investing Activities      
Purchases of available-for-sale investments (1,155,659) (2,238,784) (2,182,681)
Proceeds from sales of available-for-sale investments 775,135 1,294,636 1,745,290
Proceeds from maturities of available-for-sale investments 466,900 632,517 637,052
Purchases of property and equipment (80,901) (85,035) (97,566)
Cash paid for acquisitions, net of cash acquired (60,449) (13,242) (95,331)
Cash paid for licensing agreements and product related intangible assets (7,379) (25,940) (10,795)
Other 2,323 1,181 5,209
Net cash (used in) provided by investing activities of continuing operations (60,030) (434,667) 1,178
Net cash used in investing activities of discontinued operations (3,891) (49,537) (225,593)
Net cash used in investing activities (63,921) (484,204) (224,415)
Financing Activities      
Proceeds from issuance of common stock under stock-based compensation plans 2,114 41,247 112,285
Proceeds from revolving credit facility 165,000 0 95,000
Repayments on credit facility (165,000) 0 (95,000)
Proceeds from 2027 notes, net of issuance costs 741,039 0 0
Repayment of acquired debt (4,000) 0 (3,175)
Excess tax benefit from stock-based compensation 0 16,049 5,873
Stock repurchases, net (1,174,957) (28,689) (755,704)
Accelerated stock repurchase program (150,000) 0 0
Cash paid for tax withholding on vested stock awards (80,040) (66,638) (46,336)
Transfer of cash to GoTo Business resulting from the separation (28,523) 0 0
Net cash used in financing activities of continuing operations (694,367) (38,031) (687,057)
Net cash used in financing activities of discontinued operations 0   (4,394)
Net cash used in financing activities (694,367) (38,031) (691,451)
Effect of exchange rate changes on cash and cash equivalents 8,186 (5,157) (10,313)
Change in cash and cash equivalents 158,174 588,438 108,369
Cash and cash equivalents at beginning of period, including cash of discontinued operations of $120,861, $57,762 and $34,651, respectively 956,956 368,518 260,149
Cash and cash equivalents at end of period 1,115,130 956,956 368,518
Less cash of discontinued operations 0 (120,861) (57,762)
Cash and cash equivalents at end of period 1,115,130 836,095 310,756
Supplemental Cash Flow Information      
Cash paid for income taxes 61,126 64,361 45,827
Cash paid for interest $ 8,764 $ 7,847 $ 8,215