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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 137,993 $ 97,550
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,086 13,791
Amortization of intangible assets 29,290 18,857
Change in the fair value of Equator Earn Out (37,924) 0
Goodwill impairment 37,473 [1] 0
Share-based compensation expense 1,638 2,076
Equity in losses of investment in affiliate    176
Bad debt expense 4,667 1,338
Amortization of debt discount 191 184
Amortization of debt issuance costs 799 702
Deferred income taxes 464 0
Loss on disposal of fixed assets 98 1,178
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (58,725) 3,762
Prepaid expenses and other current assets (6,525) (6,142)
Other assets (1,656) (1,871)
Accounts payable and accrued expenses 14,968 4,574
Other current and non-current liabilities (18,141) (1,535)
Net cash provided by operating activities 125,696 134,640
Cash flows from investing activities:    
Additions to premises and equipment (48,119) (20,528)
Acquisition of businesses, net of cash acquired (14,931) (204,567)
Proceeds from loan to Ocwen 0 75,000
Proceeds from sale of equity affiliate 0 12,648
Other investing activities (294) (50)
Net cash used in investing activities (63,344) (137,497)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 198,000 201,000
Repayment of long-term debt and payments on capital lease obligations (3,474) (2,736)
Debt issuance costs (2,608) (2,400)
Proceeds from stock option exercises 2,523 4,710
Purchase of treasury stock (208,820) (87,418)
Contributions from non-controlling interests 0 18
Distributions to non-controlling interests (1,813) (3,234)
Net cash (used in) provided by financing activities (16,192) 109,940
Net increase in cash and cash equivalents 46,160 107,083
Cash and cash equivalents at the beginning of the period 130,429 105,502
Cash and cash equivalents at the end of the period 176,589 212,585
Supplemental cash flow information:    
Interest paid 15,049 13,592
Income taxes paid, net 12,112 2,360
Non-cash investing and financing activities:    
Increase in payables for purchases of premises and equipment 482 1,947
Decrease in acquisition of businesses from subsequent working capital true-ups $ (3,711) $ (2,039)
[1] See Note 3 for a discussion of the Equator goodwill impairment.