XML 17 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 18,892 $ 4,408
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 9,208 8,826
Amortization of intangible assets 12,211 8,891
Other than temporary impairment loss on HLSS securities 0 3,285
Change in the fair value of acquisition related contingent consideration 96 148
Share-based compensation expense 1,877 443
Bad debt expense 876 607
Amortization of debt discount 116 127
Amortization of debt issuance costs 322 351
Deferred income taxes 0 (24)
Gain on disposal of fixed assets (10) (19)
Changes in operating assets and liabilities:    
Accounts receivable 6,502 (15,140)
Prepaid expenses and other current assets (4,970) 2,413
Other assets (109) 127
Accounts payable and accrued expenses (12,133) (27,559)
Other current and non-current liabilities (3,844) (2,822)
Net cash provided by (used in) operating activities 29,034 (15,938)
Cash flows from investing activities:    
Additions to premises and equipment (5,984) (3,931)
Purchase of available for sale securities (29,429) (29,966)
Other investing activities 16 (4)
Net cash used in investing activities (35,397) (33,901)
Cash flows from financing activities:    
Repayment of long-term debt (1,486) (1,486)
Proceeds from stock option exercises 366 203
Purchase of treasury stock (11,691) (3,959)
Distributions to non-controlling interests (448) (657)
Net cash used in financing activities (13,259) (5,899)
Net decrease in cash and cash equivalents (19,622) (55,738)
Cash and cash equivalents at the beginning of the period 179,327 161,361
Cash and cash equivalents at the end of the period 159,705 105,623
Supplemental cash flow information:    
Interest paid 6,104 6,655
Income taxes paid, net 3,830 1,520
Non-cash investing and financing activities:    
Increase (decrease) in payables for purchases of premises and equipment $ 1,030 $ (3,638)