XML 21 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Operating activities:      
Net income $ 36,322 $ 33,255 $ 38,043
Adjustment to reconcile net income to cash provided by operating activities:      
Excess tax benefits from exercise or vesting of equity awards (5,275) (3,387) (6,435)
Deferred income taxes (2,099) (13,896) (7,008)
Depreciation and amortization 23,093 23,352 20,035
Amortization of investments 2,238 1,916 1,776
Stock-based compensation expense 30,054 19,205 12,869
Foreign currency transaction loss 4,168 3,769 1,593
Other non-cash 822 (747) 1,670
Change in operating assets and liabilities:      
Trade accounts receivable (62,235) 6,209 (28,316)
Income taxes receivable and other current assets 3,223 2,776 7,076
Accounts payable and accrued expenses 16,572 13,356 5,794
Deferred revenue 17,668 11,173 26,362
Other long-term assets and liabilities (2,023) 2,908 7,244
Cash provided by operating activities 62,528 99,889 80,703
Investing activities:      
Purchases of marketable securities (75,702) (55,520) (60,648)
Proceeds from maturities and called marketable securities 42,026 33,244 27,814
Sales of marketable securities 1,915    
Payments for acquisitions, net of cash acquired (1,671) (3,918) (25,565)
Investment in property and equipment (11,020) (11,463) (5,598)
Cash used in investing activities (44,452) (37,657) (63,997)
Financing activities:      
Issuance of common stock for share-based compensation plans 1,136 1,001 2,210
Excess tax benefits from exercise or vesting of equity awards 5,275 3,387 6,435
Dividend payments to shareholders (9,194) (6,874) (3,421)
Common stock repurchases for tax withholdings for net settlement of equity awards (9,776) (6,128) (7,345)
Common stock repurchases under share repurchase programs (22,825) (15,418) (12,446)
Cash used in financing activities (35,384) (24,032) (14,567)
Effect of exchange rate on cash and cash equivalents (4,251) (3,846) 567
Net (decrease) increase in cash and cash equivalents (21,559) 34,354 2,706
Cash and cash equivalents, beginning of year 114,585 80,231 77,525
Cash and cash equivalents, end of year 93,026 114,585 80,231
Supplemental disclosures:      
Income taxes paid 30,215 14,722 11,107
Non-cash investing and financing activity:      
Dividends payable $ 2,297 $ 2,294 $ 1,145