XML 67 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 87,224 $ 54,989 $ 40,054
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and software 33,293 33,254 27,724
Amortization of intangible assets 9,691 24,342 22,555
Amortization of deferred financing costs 564 564 2,258
Gain on sale of cost basis investment (7,697) 0 0
Stock-based compensation expense 21,901 21,507 24,143
Deferred income taxes 7,290 (3,504) (20,409)
Noncash lease expense 4,133 0 0
Change in fair value of contingent consideration 0 (35) (2,865)
Release of estimated liability for appeals, net (10,478) (8,436) 0
Release of estimated liability for appeals, net      
Accounts receivable (16,292) (17,312) (6,976)
Prepaid expenses and other current assets (10,487) (2,785) (1,298)
Other assets (2,173) 245 124
Income taxes receivable / (payable) 15,607 (16,925) 1,462
Accounts payable, accrued expenses and other liabilities 4,744 11,181 (340)
Operating lease liabilities (5,315) 0 0
Liability for appeals 1,227 (628) 32
Net cash provided by operating activities 133,232 96,457 86,464
Investing activities:      
Acquisition of businesses, net of cash acquired (185,790) 0 (171,321)
Proceeds from sale of cost basis investment 9,776 0 0
Investment in common stock (7,421) 0 0
Purchases of property and equipment (8,276) (11,264) (17,318)
Investment in capitalized software (13,348) (19,149) (15,725)
Net cash used in investing activities (205,059) (30,413) (204,364)
Financing activities:      
Proceeds from credit facility 0 0 42,204
Payments for deferred financing costs 0 0 (2,269)
Proceeds from exercise of stock options 39,332 38,362 2,720
Payments of tax withholdings on behalf of employees for net-share settlements (6,988) (2,818) (3,161)
Payments on capital lease obligations (195) 0 (143)
Purchases of treasury stock 0 (5,955) (14,137)
Net cash provided by financing activities 32,149 29,589 25,214
Net (decrease)/increase in cash and cash equivalents (39,678) 95,633 (92,686)
Cash and Cash Equivalents      
Cash and cash equivalents at beginning of year 178,946 83,313 175,999
Cash and cash equivalents at end of period 139,268 178,946 83,313
Supplemental disclosure of cash flow information:      
Cash (refunds received)/paid for income taxes, net of refunds (5,298) 22,225 17,995
Cash paid for interest 10,457 10,326 9,944
Supplemental disclosure of non-cash activities:      
Change in balance of accrued property and equipment purchases $ (1,303) $ 1,305 $ 51