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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 53,576 $ 23,911
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation 17,549 21,817
Amortization 34,543 36,470
Asset impairment 1,689 30,126
Gain on lease modifications (4,349) 0
Loss on short-term investments and other 0 19
Loss on derivative liability upon debt conversion 0 7,456
Unrealized foreign currency transactions gain, net (442) (1,700)
Deferred income taxes (12,504) (16,457)
Stock-based compensation 21,253 20,778
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net (33,351) (22,026)
Other current and non-current assets and liabilities (11,449) (16,430)
Income taxes payable/receivable (4,650) (7,188)
Trade accounts payable and accrued liabilities (24,158) (67,053)
Deferred revenue 14,658 (150)
Net cash provided by operating activities 52,365 9,573
Cash flows from investing activities:    
Purchases of software, property and equipment (22,940) (31,564)
Proceeds from sale/maturity of short-term investments 71 27,447
Net cash used in investing activities (22,869) (4,117)
Cash flows from financing activities:    
Proceeds from issuance of common stock 2,541 2,217
Payment of cash dividends (26,231) (25,396)
Repurchase of common stock (116,418) (73,380)
Deferred acquisition payments (3,220) (1,959)
Proceeds from long-term debt 470,000 290,000
Payments on long-term debt (310,625) (247,926)
Purchase of capped call transactions related to convertible notes 34,298 0
Payments of deferred financing costs (13,518) 0
Settlement and merchant reserve activity (46,196) (13,931)
Net cash used in financing activities (77,965) (70,375)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (448) (7,689)
Net decrease in cash, cash equivalents, and restricted cash (48,917) (72,608)
Cash, cash equivalents and restricted cash, beginning of period 389,018 391,902
Cash, cash equivalents and restricted cash, end of period 340,101 319,294
Cash paid during the period for-    
Interest 21,772 12,367
Income taxes 39,136 31,817
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 146,730 146,685
Settlement and merchant reserve assets 193,371 172,609
Total cash, cash equivalents and restricted cash $ 340,101 $ 319,294