XML 27 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 62,567 $ 35,711 $ 45,268
Adjustments to reconcile net income to net cash provided by operating activities-      
Depreciation 14,776 14,084 18,633
Amortization 29,281 33,553 37,819
Amortization of original issue discount 6,246 5,781 5,352
Asset impairment 1,685    
Loss on short-term investments and other 177 1,123 910
(Gain) loss on disposition of business operations (3,733) (222) 3,017
Loss on termination of pension plan     3,221
Deferred income taxes (16,106) 41 (1,764)
Excess tax benefit of stock-based compensation awards (2,185) (2,060) (677)
Stock-based employee compensation 21,130 16,655 14,796
Changes in operating assets and liabilities, net of acquired amounts:      
Trade accounts receivable, net 1,831 (14,326) (2,319)
Other current and non-current assets (5,387) (3,230) (7,163)
Income taxes payable/receivable 8,953 (2,260) 10,639
Trade accounts payable and accrued liabilities 13,916 4,359 (994)
Deferred revenue 3,808 (5,558) (104)
Net cash provided by operating activities 136,959 83,651 126,634
Cash flows from investing activities:      
Purchases of property and equipment (18,845) (25,985) (30,076)
Purchases of short-term investments (181,553) (190,427) (183,575)
Proceeds from sale/maturity of short-term investments 192,994 197,466 89,688
Acquisition of and investment in businesses, net of cash acquired (1,300)   (2,926)
Acquisition of and investments in client contracts (8,018) (5,600) (7,092)
Proceeds from the disposition of business operations   1,130 4,530
Net cash used in investing activities (16,722) (23,416) (129,451)
Cash flows from financing activities:      
Proceeds from issuance of common stock 1,547 1,394 1,591
Payment of cash dividends (22,238) (20,530) (14,454)
Repurchase of common stock (65,027) (25,138) (15,478)
Payments on acquired equipment financing (829) (1,097) (2,723)
Proceeds from long-term debt 150,000    
Payments on long-term debt (127,500) (15,000) (15,000)
Payments of deferred financing costs (2,742)    
Excess tax benefit of stock-based compensation awards 2,185 2,060 677
Net cash used in financing activities (64,604) (58,311) (45,387)
Effect of exchange rate fluctuations on cash (4,714) (2,898) (2,857)
Net increase (decrease) in cash and cash equivalents 50,919 (974) (51,061)
Cash and cash equivalents, beginning of year 81,712 82,686 133,747
Cash and cash equivalents, end of year 132,631 81,712 82,686
Cash paid during the year for-      
Interest 8,380 8,265 9,440
Income taxes $ 41,860 $ 25,153 $ 6,149