XML 21 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 55,082 $ 45,446
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation 18,604 17,016
Amortization 34,314 32,998
Amortization of original issue discount 2,350 2,221
Asset impairment 415 10,438
(Gain)/loss on short-term investments 51 (120)
Loss on extinguishment of debt 132  
Loss on acquisition of controlling interest 6,180  
Deferred income taxes 2,188 3,844
Stock-based compensation 15,304 14,088
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net (11,960) (13,322)
Other current and non-current assets and liabilities (13,912) (8,784)
Income taxes payable/receivable (6,111) 1,542
Trade accounts payable and accrued liabilities (18,329) (24,618)
Deferred revenue 4,001 8,736
Net cash provided by operating activities 88,309 116,129
Cash flows from investing activities:    
Purchases of software, property and equipment (22,531) (24,201)
Purchases of short-term investments (57,734) (49,100)
Proceeds from sale/maturity of short-term investments 80,092 37,743
Acquisition of and investments in business, net of cash acquired (51,111) (11,491)
Net cash used in investing activities (51,284) (47,049)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,926 1,838
Payment of cash dividends (24,653) (23,441)
Repurchase of common stock (25,568) (19,926)
Proceeds from long-term debt 150,000  
Payments on long-term debt (126,563) (7,500)
Payments of deferred financing costs (3,000)  
Settlement and merchant reserve activity (7,735) (47,602)
Net cash used in financing activities (35,593) (96,631)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (1,872) (1,653)
Net decrease in cash, cash equivalents and restricted cash (440) (29,204)
Cash, cash equivalents and restricted cash, beginning of period 354,730 337,654
Cash, cash equivalents and restricted cash, end of period 354,290 308,450
Cash paid during the period for-    
Interest 11,947 12,941
Income taxes 25,688 14,756
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 195,365 174,489
Settlement and merchant reserve assets 158,925 133,961
Cash, cash equivalents and restricted cash, end of period $ 354,290 $ 308,450