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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net (loss) $ (379) $ (6,617)
Adjustments to reconcile net (loss) to cash provided by operating activities    
Stock-based compensation 28,227 30,100
Deferred income taxes (9,295) (15,068)
Loss on capped call transactions 30,560 19,117
Amortization of deferred commissions 17,221 11,496
Lease expense 3,919 3,238
Amortization of intangible assets and depreciation 4,171 7,006
Foreign currency transaction (gain) loss (2,876) 5,098
Other non-cash (1,100) 1,634
Change in operating assets and liabilities, net (55,332) (34,354)
Cash provided by operating activities 15,116 21,650
Investing activities    
Purchases of investments (33,690) (21,051)
Proceeds from maturities and called investments 20,915 40,867
Sales of investments 13,350 2,450
Payments for acquisitions, net of cash acquired 0 (4,993)
Investment in property and equipment (6,657) (1,784)
Cash (used in) provided by investing activities (6,082) 15,489
Financing activities    
Proceeds from employee stock purchase plan 2,446 2,288
Dividend payments to stockholders (2,454) (2,427)
Common stock repurchases (35,910) (34,655)
Cash (used in) financing activities (35,918) (34,794)
Effect of exchange rate changes on cash and cash equivalents (310) (1,536)
Net (decrease) increase in cash and cash equivalents (27,194) 809
Cash and cash equivalents, beginning of period 159,965 171,899
Cash and cash equivalents, end of period $ 132,771 $ 172,708