XML 19 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 51,050 $ 89,151
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,521 27,637
Amortization of intangible assets 36,432 27,995
Loss on HLSS equity securities and dividends received, net 0 1,854
Change in the fair value of acquisition related contingent consideration (1,174) (7,302)
Share-based compensation expense 4,692 3,258
Bad debt expense 763 3,477
Gain on early extinguishment of debt (5,464) (1,986)
Amortization of debt discount 307 379
Amortization of debt issuance costs 850 1,045
Deferred income taxes 17 54
Loss on disposal of fixed assets 30 50
Changes in operating assets and liabilities:    
Accounts receivable 3,505 (19,681)
Prepaid expenses and other current assets (10,167) 2,001
Other assets 496 2,085
Accounts payable and accrued expenses 7,005 (20,876)
Other current and non-current liabilities (9,828) 10
Net cash provided by operating activities 106,035 109,151
Cash flows from investing activities:    
Additions to premises and equipment (16,525) (27,670)
Acquisition of businesses, net of cash acquired (9,617) (11,193)
Purchase of available for sale securities (48,219) (29,966)
Proceeds received from sale of and dividends from HLSS equity securities 0 28,112
Other investing activities 266 722
Net cash used in investing activities (74,095) (39,995)
Cash flows from financing activities:    
Repayment and repurchases of long-term debt (49,237) (29,087)
Proceeds from stock option exercises 8,876 332
Purchase of treasury stock (34,321) (48,971)
Distributions to non-controlling interests (1,637) (2,144)
Other financing activities 0 (500)
Net cash used in financing activities (76,319) (80,370)
Net decrease in cash and cash equivalents (44,379) (11,214)
Cash and cash equivalents at the beginning of the period 179,327 161,361
Cash and cash equivalents at the end of the period 134,948 150,147
Supplemental cash flow information:    
Interest paid 17,244 19,770
Income taxes paid, net 14,178 6,638
Non-cash investing and financing activities:    
Acquisition of businesses with restricted shares 0 14,427
Increase (decrease) in payables for purchases of premises and equipment $ 2,458 $ (5,326)