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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ 7,757 $ (342,755) $ 48,148
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization of acquired intangible assets 43,426 39,907 44,208
Stock-based compensation 20,754 10,066 16,300
Impairment of goodwill and an intangible asset 0 270,625 50,900
Reduction of right-of-use lease assets 3,046 8,908 4,425
Deferred income taxes (10,539) 41,059 (67,549)
Amortization of debt discount and issuance costs 2,668 2,065 1,270
Gain on sale of a business 0 (349) (3,256)
Change in the fair value of acquisition-related contingent consideration 22,400 8,300 0
Accretion of lease liabilities 1,250 1,922 599
Other non-cash expenses 2,602 1,508 135
Changes in operating assets and liabilities, net of acquisitions and disposals:      
Accounts receivable, net (9,152) 10,705 871
Commissions and advisory fees receivable 1,059 (4,956) (471)
Prepaid expenses and other current assets (7,438) 3,847 15,043
Other long-term assets (17,861) 2,232 3,377
Accounts payable (1,074) (4,192) 29
Commissions and advisory fees payable (857) (884) 432
Lease liabilities (1,853) (3,894) (7,335)
Deferred revenue (43) (796) (17,367)
Accrued expenses and other current and long-term liabilities (19,314) 761 3,045
Net cash provided by operating activities 36,831 44,079 92,804
Investing activities:      
Purchases of property, equipment, and software, net (30,276) (36,002) (10,501)
Business acquisitions, net of cash acquired 0 (101,910) (166,560)
Asset acquisitions (8,316) (3,143) 0
Proceeds from sale of a business, net of cash 0 349 7,467
Net cash used by investing activities (38,592) (140,706) (169,594)
Financing activities:      
Proceeds from credit facilities, net of debt discount and issuance costs (502) 226,278 131,489
Payments on credit facilities (1,812) (66,531) (313)
Acquisition-related contingent consideration payments (14,075) 0 (943)
Stock repurchases 0 0 (28,399)
Payment of redeemable noncontrolling interests 0 0 (24,945)
Proceeds from stock option exercises 579 97 4,387
Proceeds from issuance of stock through employee stock purchase plan 3,277 2,258 2,212
Tax payments from shares withheld for equity awards (1,644) (1,163) (5,652)
Net cash provided (used) by financing activities (14,177) 160,939 77,836
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0 0 38
Net increase (decrease) in cash, cash equivalents, and restricted cash (15,938) 64,312 1,084
Cash, cash equivalents, and restricted cash, beginning of period 150,762 86,450 85,366
Cash, cash equivalents, and restricted cash, end of period 134,824 150,762 86,450
Supplemental cash flow information:      
Cash paid for income taxes 3,056 1,776 3,106
Cash paid for interest 28,897 24,279 18,852
Non-cash investing activities:      
Purchases of property, equipment, and software through leasehold incentives $ 0 $ 9,726 $ 0