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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 21,514 $ 19,251
Adjustments to reconcile net income to net cash provided by (used in) operating activities –    
Depreciation 5,565 5,113
Amortization 10,788 11,949
Amortization of original issue discount 730 690
Asset impairment 259 69
Gain on short-term investments and other (85) (157)
Deferred income taxes 9,310 1,395
Stock-based compensation 4,857 3,693
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net (23,304) (12,018)
Other current and non-current assets and liabilities (8,452) (1,575)
Income taxes payable/receivable (3,092) 3,886
Trade accounts payable and accrued liabilities (32,455) (25,594)
Deferred revenue 7,152 6,124
Net cash provided by (used in) operating activities (7,213) 12,826
Cash flows from investing activities:    
Purchases of software, property and equipment (4,822) (8,286)
Purchases of short-term investments (16,037) (14,168)
Proceeds from sale/maturity of short-term investments 18,670 19,619
Acquisition of and investments in business, net of cash acquired (9,991) (4,000)
Net cash used in investing activities (12,180) (6,835)
Cash flows from financing activities:    
Proceeds from issuance of common stock 564 512
Payment of cash dividends (8,277) (7,641)
Repurchase of common stock (13,876) (13,568)
Payments on long-term debt (1,875) (1,875)
Net cash used in financing activities (23,464) (22,572)
Effect of exchange rate fluctuations on cash (5,947) 876
Net decrease in cash and cash equivalents (48,804) (15,705)
Cash and cash equivalents, beginning of period 156,548 139,277
Cash and cash equivalents, end of period 107,744 123,572
Cash paid during the period for –    
Interest 6,194 6,506
Income taxes $ 857 $ 1,374