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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Operating activities      
Net income $ 174,937 [1],[2] $ 123,693  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 12,397 [2] 10,667  
Stock-based compensation 14,403 [2] 23,093  
Provision for losses on accounts receivable 11,997 [2] 12,988  
Amortization of deferred financing costs and discounts 1,339 [2] 1,914  
Amortization of intangible assets 57,836 [2] 52,654  
Amortization of premium on receivables 1,269 [2] 1,544  
Deferred income taxes (4,829) [2] (3,453)  
Investment loss 0 [1],[2] 2,377  
Other (57) [2] 0  
Changes in operating assets and liabilities (net of acquisitions):      
Accounts and other receivables (288,152) [2] (236,564)  
Prepaid expenses and other current assets 32,074 [2] (16,453)  
Other assets (7,101) [2] (2,673)  
Accounts payable, accrued expenses and customer deposits 194,589 [2] 103,711  
Net cash provided by operating activities 200,702 [2] 73,498  
Investing activities      
Acquisitions, net of cash acquired (3,875) [2] 0  
Purchases of property and equipment (15,214) [2] (14,796)  
Other (3,642) [2] (6,327) $ (39,000)
Net cash used in investing activities (22,731) [2] (21,123)  
Financing activities      
Proceeds from issuance of common stock 19,975 [2] 15,230  
Repurchase of common stock (88,292) [2] 0  
Borrowings on securitization facility, net 18,000 [2] 85,000  
Principal payments on notes payable (34,500) [2] (33,363)  
Borrowings from revolver 420,258 [2] 90,000  
Payments on revolver (439,351) [2] (159,949)  
Borrowings on swing line of credit, net 5,009 [2] 21,639  
Other (92) [2] 537  
Net cash (used in) provided by financing activities (98,993) [2] 19,094  
Effect of foreign currency exchange rates on cash 12,653 [2] 19,754  
Net increase in cash and cash equivalents and restricted cash 91,631 [2] 91,223  
Cash and cash equivalents and restricted cash, beginning of period 1,130,870 643,770 643,770
Cash and cash equivalents and restricted cash, end of period 1,222,501 [2] 734,993 $ 1,130,870
Supplemental cash flow information      
Cash paid for interest 35,634 [2] 33,190  
Cash paid for income taxes $ 16,830 [2] $ 88,503  
[1] Reflects the January 1, 2018 adoption of Accounting Standards Update 2014-09, "Revenue from Contracts with Customers (Topic 606)" using the modified retrospective transition method. As a result of the application of the modified retrospective transition method, the Company's prior period results within its annual report on Form 10-K and quarterly reports on Form 10-Q will not be restated to reflect the impact of Topic 606. See footnote 1.
[2] Reflects the impact of the Company's adoption of Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230), which was adopted by the Company on January 1, 2018 and applied retrospectively to results for 2017. The adoption of Topic 230 resulted in the statement of cash flows presenting the changes in the total of cash, cash equivalents and restricted cash. As a result, the Company will no longer present transfers between cash and cash equivalents and restricted cash in the consolidated statement of cash flows.