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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 17,083 $ 12,146
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 3,057 3,587
Amortization 12,029 11,098
Deferred income taxes 655 918
Non-cash stock compensation and retirement savings plan contributions 11,560 10,595
Adjustment to fair value of contingent consideration for purchase of business 1,757 (828)
Amortization of debt issuance costs and discounts 300 122
Write-off of unamortized credit facility fees 0 246
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 11,453 1,415
Other assets 1,157 2,634
Accounts payable (12,394) (6,423)
Other liabilities (3,865) (5,386)
Net cash provided by operating activities 42,792 30,124
INVESTING ACTIVITIES    
Purchase of property and equipment (3,182) (2,521)
Capitalization of internally developed software costs (477) (762)
Purchase of businesses (21,213) (37,886)
Net cash used in investing activities (24,872) (41,169)
FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes 143,750 0
Payment for convertible notes issuance costs (4,323) 0
Purchase of convertible notes hedges (20,686) 0
Proceeds from issuance of convertible notes warrants 12,060 0
Proceeds from line of credit 161,000 223,500
Payments on line of credit (216,000) (190,500)
Payment for credit facility financing fees 0 (355)
Payment of contingent consideration for purchase of business 0 (3,258)
Proceeds from the sale of stock through the Employee Stock Purchase Plan 124 135
Purchases of treasury stock (51,809) (23,953)
Remittance of taxes withheld as part of a net share settlement of restricted stock vesting (2,908) (2,542)
Net cash provided by financing activities 21,208 3,027
Effect of exchange rate on cash and cash equivalents (488) 353
Change in cash and cash equivalents 38,640 (7,665)
Cash and cash equivalents at beginning of period 6,307 10,113
Cash and cash equivalents at end of period 44,947 2,448
Supplemental disclosures:    
Cash paid for income taxes 2,439 3,725
Cash paid for interest 1,277 922
Non-cash investing activity:    
Stock issued for purchase of businesses 3,789 9,429
Stock surrendered by sellers in conjunction with net working capital settlement $ 303 $ 572