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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 78,491 $ 55,498
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48,277 53,041
Amortization of debt issuance costs 2,157 2,407
Stock-based compensation expense 29,203 26,981
Deferred income tax expense, net 6,087 5,554
Provision for losses on accounts receivable 3,992 6,462
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (15,809) (13,808)
Prepaid expenses and other current assets (3,561) (1,398)
Deposits and other assets (3,387) 473
Accounts payable and other liabilities 11,888 12,864
Deferred revenue 5,969 386
Net cash provided by operating activities 163,307 148,460
Investing activities:    
Proceeds from sale and settlement of investments 0 4,700
Purchases of property and equipment and other assets (19,754) (11,692)
Acquisitions, net of cash acquired (47,767) (10,443)
Net cash used in investing activities (67,521) (17,435)
Financing activities:    
Payments of long-term debt (35,000) (20,000)
Payments of issuance costs (643) 0
Repurchase of restricted stock to satisfy tax withholding obligations (14,309) (14,573)
Proceeds from exercise of stock options and employee stock purchase plan 9,058 4,791
Net cash used in financing activities (40,894) (29,782)
Effect of foreign currency exchange rates on cash and cash equivalents 880 (962)
Net increase in cash and cash equivalents 55,772 100,281
Cash and cash equivalents at the beginning of period 567,223 421,818
Cash and cash equivalents at the end of period $ 622,995 $ 522,099