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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 19,631 $ 21,514
Adjustments to reconcile net income to net cash used in operating activities -    
Depreciation 6,113 5,565
Amortization 10,737 10,788
Amortization of original issue discount 772 730
Asset impairment 102 259
(Gain)/loss on short-term investments 15 (85)
Deferred income taxes 6,508 9,310
Stock-based compensation 5,395 4,857
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net (23,874) (23,304)
Other current and non-current assets and liabilities (999) (8,452)
Income taxes payable/receivable (1,022) (3,092)
Trade accounts payable and accrued liabilities (28,101) (32,455)
Deferred revenue 1,914 7,152
Net cash used in operating activities (2,809) (7,213)
Cash flows from investing activities:    
Purchases of software, property and equipment (8,239) (4,822)
Purchases of short-term investments (32,304) (16,037)
Proceeds from sale/maturity of short-term investments 29,340 18,670
Acquisition of and investments in business, net of cash acquired (648) (9,991)
Net cash used in investing activities (11,851) (12,180)
Cash flows from financing activities:    
Proceeds from issuance of common stock 619 564
Payment of cash dividends (8,635) (8,277)
Repurchase of common stock (11,738) (13,876)
Payments on long-term debt (2,813) (1,875)
Net cash used in financing activities (22,567) (23,464)
Effect of exchange rate fluctuations on cash (863) (5,947)
Net decrease in cash and cash equivalents (38,090) (48,804)
Cash and cash equivalents, beginning of period 188,699 156,548
Cash and cash equivalents, end of period 150,609 107,744
Cash paid during the period for -    
Interest 5,661 6,194
Income taxes $ 1,468 $ 857