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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 46,303 $ 52,869
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 39,633 35,345
Stock-based compensation expense 21,538 17,311
Amortization of operating lease right-of-use assets 20,544  
Unrealized gain on short term investments (7,443) (5,423)
Unrealized foreign exchange loss/(gain), net 19 (14,375)
Deferred income tax benefit (6,859) (986)
Allowance for doubtful accounts receivable 433 (620)
Loss from equity-method investment 198 176
Amortization of non-cash interest expense related to convertible senior notes 1,836 0
Impairment charges 3,167 0
Others, net (148) 193
Change in operating assets and liabilities:    
Accounts receivable (16,475) (9,354)
Prepaid expenses and other current assets 752 (3,344)
Advance income tax, net 6,212 (4,228)
Other assets (1,307) (5,597)
Accounts payable (1,847) (1,414)
Deferred revenue 3,247 (5,199)
Accrued employee costs 3,420 (7,680)
Accrued expenses and other liabilities 12,160 (436)
Operating lease liabilities (19,428)  
Net cash provided by operating activities 105,955 47,238
Cash flows from investing activities:    
Purchase of property and equipment (32,308) (30,070)
Purchase of non-controlling interest (241) 0
Business acquisition (net of cash acquired) 0 (231,918)
Purchase of investments (117,934) (57,957)
Proceeds from redemption of investments 129,143 79,536
Net cash used for investing activities (21,340) (240,409)
Cash flows from financing activities:    
Principal payments on finance lease liabilities (274) (105)
Proceeds from borrowings 46,000 245,000
Repayments of borrowings (87,763) (5,083)
Payment of debt issuance costs (117) (387)
Acquisition of treasury stock (35,884) (32,793)
Proceeds from exercise of stock options 338 1,084
Net cash (used for) / provided by financing activities (77,700) 207,716
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,761) (3,008)
Net increase in cash, cash equivalents and restricted cash 5,154 11,537
Cash, cash equivalents and restricted cash at beginning of period 104,131 94,277
Cash, cash equivalents and restricted cash at end of period 109,285 105,814
Non-cash investing and financing transaction    
Restricted common stock issued for business acquisition $ 0 $ 4,080