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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from operating activities      
Net income $ 44,841 $ 73,633 $ 45,404
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 79,566 73,948 70,491
Provision for doubtful accounts and sales returns 6,890 11,686 3,730
Stock-based compensation expense 48,274 40,631 32,638
Deferred taxes (619) (17,814) 5,415
Amortization of deferred financing costs and discount 752 838 958
Other non-cash adjustments (1,912) 504 (864)
Changes in operating assets and liabilities, net of acquisition and disposal of businesses:      
Accounts receivable 2,166 (15,821) (13,007)
Prepaid expenses and other assets (5,217) (9,550) (8,495)
Trade accounts payable 9,487 1,024 3,689
Accrued expenses and other liabilities (2,027) (4,973) (751)
Deferred revenue 19,184 22,184 14,420
Net cash provided by operating activities 201,385 176,290 153,628
Cash flows from investing activities      
Purchase of property and equipment (14,719) (10,208) (17,694)
Capitalized software development costs (37,629) (28,345) (26,359)
Purchase of net assets of acquired companies, net of cash and restricted cash acquired (44,943) (146,789) (3,377)
Purchase of derivative instruments 0 (568) 0
Proceeds from settlement of derivative instruments 0 1,030 0
Other investing activities (500) 0 0
Net cash used in investing activities (97,791) (184,880) (47,430)
Cash flows from financing activities      
Proceeds from issuance of debt 270,900 774,500 227,200
Payments on debt (322,476) (679,119) (293,575)
Debt issuance costs 0 (3,085) 0
Employee taxes paid for withheld shares upon equity award settlement (27,685) (23,962) (15,376)
Proceeds from exercise of stock options 11 15 16
Change in due to customers (188,502) 226,717 96,000
Change in customer funds receivable (844) 6,644 0
Dividend payments to stockholders (23,312) (23,069) (22,811)
Net cash (used in) provided by financing activities (291,908) 278,641 (8,546)
Effect of exchange rate on cash, cash equivalents, and restricted cash (2,014) (550) 2,622
Net (decrease) increase in cash, cash equivalents, and restricted cash (190,328) 269,501 100,274
Cash, cash equivalents, and restricted cash, beginning of year 640,174 370,673 270,399
Cash, cash equivalents, and restricted cash, end of year 449,846 640,174 370,673
Cash (paid) received during the year for:      
Interest (15,261) (10,614) (9,608)
Taxes, net of refunds 7,138 (5,613) (1,340)
Non-cash investing and financing activities:      
Purchase of equipment and other assets included in accounts payable (882) (1,546) (3,155)
Acquired restricted cash liabilities due to customers 0 31,644 $ 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 30,866 29,830  
Restricted cash due to customers 418,980 610,344  
Total cash, cash equivalents and restricted cash in the statement of cash flows $ 449,846 $ 640,174