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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
$ in Thousands
3 Months Ended
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Cash flows from operating activities:    
Net income $ 20,928 $ 6,113
Adjustments to reconcile net income to net cash provided by (used in) operating activities-    
Depreciation 5,757 6,138
Amortization 11,471 13,870
Asset impairment 1,595 10,705
(Gain) loss on short-term investments and other (125) 15
Loss on derivative liability upon debt conversion 0 7,456
Unrealized foreign currency transactions (gain)/loss, net 41 (136)
Deferred income taxes 4,079 (55)
Stock-based compensation 6,412 5,581
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net (1,825) 182
Other current and non-current assets and liabilities (6,871) (6,069)
Income taxes payable/receivable 1,647 (1,735)
Trade accounts payable and accrued liabilities (36,071) (42,550)
Deferred revenue 8,359 (5,064)
Net cash provided by (used in) operating activities 15,397 (5,549)
Cash flows from investing activities:    
Purchases of software, property and equipment (8,700) (10,375)
Proceeds from sale/maturity of short-term investments 71 21,887
Net cash provided by (used in) investing activities (8,629) 11,512
Cash flows from financing activities:    
Proceeds from issuance of common stock 893 650
Payment of cash dividends (9,088) (8,885)
Repurchase of common stock (9,306) (23,660)
Deferred acquisition payments (274) 0
Proceeds from long-term debt 30,000 245,000
Payments on long-term debt (1,875) (244,176)
Settlement and merchant reserve activity (61,482) (23,543)
Net cash used in financing activities (51,132) (54,614)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash 327 1,351
Net decrease in cash, cash equivalents, and restricted cash (44,037) (47,300)
Cash, cash equivalents and restricted cash, beginning of period 389,018 391,902
Cash, cash equivalents and restricted cash, end of period 344,981 344,602
Cash paid during the period for-    
Interest 7,005 5,876
Income taxes 2,211 2,230
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 167,681 181,457
Settlement and merchant reserve assets 177,300 163,145
Total cash, cash equivalents and restricted cash $ 344,981 $ 344,602