XML 97 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 15,048 $ 18,073
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation 3,366 2,526
Amortization of intangible assets 3,409 3,535
Deferred income taxes (886) (1,520)
Amortization of deferred financing costs 121 967
Share based compensation 4,212 3,015
Change in acquisition related contingencies 96 0
Change in accrual for unrecognized tax benefits (65) 186
Changes in operating assets and liabilities:    
Accounts receivable 6,763 3,538
Prepaid expenses and other assets (407) 33
Accounts payable and accrued expenses 1,529 (1,101)
Income taxes receivable (2,616) (952)
Deferred revenue 4,119 5,860
Other, net 6 35
Net cash flows from operating activities 34,695 34,195
Cash flows from investing activities:    
Purchases of fixed assets (5,748) (3,054)
Purchases of investments (3) (1,735)
Maturities and sales of investments 2,194 999
Net cash flows from investing activities (3,557) (3,790)
Cash flows from financing activities:    
Payments on long-term debt (20,000) (16,500)
Proceeds from long-term debt 0 16,500
Payments under stock repurchase plan (12,356) (34,064)
Payment of acquisition related contingencies 0 (1,557)
Proceeds from stock option exercises 2,597 1,130
Purchase of treasury stock related to vested restricted stock (983) (392)
Excess tax benefit over book expense from stock options exercised 1,245 944
Financing costs paid 0 (1,101)
Net cash flows from financing activities (29,497) (35,040)
Effect of exchange rate changes (1,055) 233
Net change in cash and cash equivalents for the period 586 (4,402)
Cash and cash equivalents, beginning of period 40,013 55,237
Cash and cash equivalents, end of period $ 40,599 $ 50,835