XML 26 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Operating activities:      
Net income $ 26,986 $ 36,322 $ 33,255
Adjustment to reconcile net income to cash provided by operating activities:      
Deferred income taxes (5,810) (2,099) (13,896)
Depreciation and amortization 24,137 23,093 23,352
Amortization of investments 1,862 2,238 1,916
Stock-based compensation expense 40,821 30,054 19,205
Foreign currency transaction (gain) loss (2,247) 4,168 3,769
Other non-cash (1,382) 822 (747)
Change in operating assets and liabilities:      
Trade accounts receivable (56,730) (62,235) 6,209
Income taxes receivable and other current assets (10,818) 3,223 2,776
Accounts payable and accrued expenses 1,531 16,572 13,356
Deferred revenue 21,271 17,668 11,173
Other long-term assets and liabilities 253 (2,023) 2,908
Cash provided by operating activities 39,874 67,803 103,276
Investing activities:      
Purchases of marketable securities (23,969) (75,702) (55,520)
Proceeds from maturities and called marketable securities 22,788 42,026 33,244
Sales of marketable securities 62,210 1,915  
Payments for acquisitions, net of cash acquired (49,113) (1,671) (3,918)
Investment in property and equipment (19,088) (11,020) (11,463)
Cash used in investing activities (7,172) (44,452) (37,657)
Financing activities:      
Issuance of common stock for share-based compensation plans 889 1,136 1,001
Dividend payments to shareholders (9,174) (9,194) (6,874)
Common stock repurchases for tax withholdings for net settlement of equity awards (16,183) (9,776) (6,128)
Common stock repurchases under share repurchase programs (27,248) (22,825) (15,418)
Cash used in financing activities (51,716) (40,659) (27,419)
Effect of exchange rate on cash and cash equivalents (3,418) (4,251) (3,846)
Net (decrease) increase in cash and cash equivalents (22,432) (21,559) 34,354
Cash and cash equivalents, beginning of year 93,026 114,585 80,231
Cash and cash equivalents, end of year 70,594 93,026 114,585
Supplemental disclosures:      
Income taxes paid 28,844 30,215 14,722
Non-cash investing and financing activity:      
Dividends payable $ 2,298 $ 2,297 $ 2,294