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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net (loss) $ (46,112) $ (61,013)
Adjustments to reconcile net (loss) to cash (used in) provided by operating activities    
Stock-based compensation 48,831 38,397
(Gain) on capped call transactions (827) 0
Deferred income taxes (18,399) (190)
Amortization of deferred commissions 16,061 14,179
Lease expense 7,819 6,718
Amortization of debt discount and issuance costs 6,033 0
Amortization of intangible assets and depreciation 10,134 12,268
Amortization of investments 0 623
Foreign currency transaction loss 1,691 1,607
Other non-cash (1,374) (40)
Change in operating assets and liabilities, net (45,056) (4,829)
Cash (used in) provided by operating activities (21,199) 7,720
Investing activities    
Purchases of investments (1,769) (10,497)
Proceeds from maturities and called investments 0 13,545
Sales of investments 1,424 29,965
Payments for acquisitions, net of cash acquired 0 10,921
Investment in property and equipment (19,059) (4,882)
Cash (used in) provided by investing activities (19,404) 17,210
Financing activities    
Proceeds from issuance of convertible senior notes 600,000 0
Purchase of capped calls related to convertible senior notes (51,900) 0
Payment of debt issuance costs (14,527) 0
Dividend payments to shareholders (4,793) (4,730)
Common stock repurchases (43,487) (39,637)
Cash provided by (used in) financing activities 485,293 (44,367)
Effect of exchange rate changes on cash and cash equivalents (942) 515
Net increase (decrease) in cash and cash equivalents 443,748 (18,922)
Cash and cash equivalents, beginning of period 68,363 114,422
Cash and cash equivalents, end of period $ 512,111 $ 95,500