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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income $ 192,831 $ 163,658
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 15,096 9,673
Stock-based compensation 30,500 18,299
Provision for losses on accounts receivable 13,022 12,283
Amortization of deferred financing costs and discounts 3,517 1,062
Amortization of intangible assets 80,186 36,482
Amortization of premium on receivables 1,627 1,630
Deferred income taxes (40,894) 2,032
Equity method investment loss 7,818 1,489
Other non-cash operating expenses (772)  
Changes in operating assets and liabilities (net of acquisitions):    
Restricted cash 5,790 2,092
Accounts receivable (233,528) (197,667)
Prepaid expenses and other current assets 24 (8,285)
Other assets (2,961) (389)
Excess tax benefits related to stock-based compensation (9,639) (18,634)
Accounts payable, accrued expenses, income taxes and deferred revenue 135,795 133,996
Net cash provided by operating activities 198,412 157,721
Investing activities    
Acquisitions, net of cash acquired (7,954) (189,850)
Purchases of property and equipment (16,234) (11,552)
Net cash used in investing activities (24,188) (201,402)
Financing activities    
Excess tax benefits related to stock-based compensation 9,639 18,634
Proceeds from issuance of common stock 7,105 8,277
Borrowings on securitization facility, net 89,000 75,400
Deferred financing costs paid   (546)
Principal payments on notes payable (51,750) (13,750)
Borrowings from revolver - A Facility   142,330
Payments on revolver - A Facility (276,818) (262,377)
Payments on foreign revolver - B Facility   (7,337)
Borrowings from swing line of credit, net 9,441 41,522
Payment of contingent consideration (39,808)  
Other (145) (371)
Net cash (used in) provided by financing activities (253,336) 1,782
Effect of foreign currency exchange rates on cash (13,782) 1,436
Net decrease in cash and cash equivalents (92,894) (40,463)
Cash and cash equivalents, beginning of period 477,069 338,105
Cash and cash equivalents, end of period 384,175 297,642
Supplemental cash flow information    
Cash paid for interest 38,883 12,797
Cash paid for income taxes $ 30,234 $ 52,697