XML 75 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 228 $ 8,169
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,196 24,743
Amortization of right-of-use assets under operating leases 9,145 0
Amortization of intangible assets 15,489 21,311
Unrealized (gain) loss on investment in equity securities (11,731) 4,186
Share-based compensation expense 8,284 6,150
Bad debt expense 114 2,408
Amortization of debt discount 499 513
Amortization of debt issuance costs 552 739
Deferred income taxes 15,568 (676)
Loss on disposal of fixed assets 330 723
Gain on sale of businesses (Note 3) (17,558) (13,688)
Loss on debt refinancing (Note 13) 0 4,434
Changes in operating assets and liabilities (excludes effect of sale of businesses):    
Accounts receivable (31,580) 4,515
Short-term investments in real estate 39,873 (22,283)
Prepaid expenses and other current assets 12,588 5,403
Other assets (55) 554
Accounts payable and accrued expenses (17,058) 10,774
Current and non-current operating lease liabilities (9,713) 0
Other current and non-current liabilities (6,977) (14,325)
Net cash provided by operating activities 22,194 43,650
Cash flows from investing activities:    
Additions to premises and equipment (1,204) (4,207)
Proceeds received from sale of equity securities 7,819 0
Proceeds from the sale of a business 38,027 15,000
Other 1,087 0
Net cash provided by investing activities 45,729 10,793
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 0 407,880
Repayments and repurchases of long-term debt (44,820) (436,821)
Debt issuance costs 0 (5,042)
Proceeds from stock option exercises 392 3,576
Purchase of treasury shares (13,397) (21,771)
Distributions to non-controlling interests (2,003) (1,912)
Payments of tax withholding on issuance of restricted share units and restricted shares (1,516) (608)
Net cash used in financing activities (61,344) (54,698)
Net increase (decrease) in cash, cash equivalents and restricted cash 6,579 (255)
Cash, cash equivalents and restricted cash at the beginning of the period 64,046 108,843
Cash, cash equivalents and restricted cash at the end of the period 70,625 108,588
Supplemental cash flow information:    
Interest paid 16,271 17,889
Income taxes paid, net 2,397 4,162
Acquisition of right-of-use assets with operating lease liabilities 5,888 0
Reduction of right-of-use assets from operating lease modifications or reassessments (3,458) 0
Non-cash investing and financing activities:    
Net increase in payables for purchases of premises and equipment $ 203 $ 12