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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income (loss) $ 11,319 $ (283,590)
Less: Income (loss) from discontinued operations, net of tax 0 382
Income (loss) from continuing operations 11,319 (283,972)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 31,430 45,420
Amortization of acquired intangible assets 4,560 4,923
Impairment of goodwill 0 109,486
Impairment of long-lived assets 0 22,351
Restructuring-related impairment 0 13,903
Stock-based compensation 16,917 22,558
Impairment and other changes in fair value of investments 0 8,089
Amortization of debt discount on convertible senior notes 852 7,123
Foreign currency translation adjustments reclassified into earnings (32,284) 0
Change in assets and liabilities:    
Accounts receivable 5,404 (418)
Prepaid expenses and other current assets (4,603) 28,657
Right-of-use assets - operating leases 11,055 11,530
Accounts payable 7,121 24,655
Accrued merchant and supplier payables (117,549) (143,292)
Accrued expenses and other current liabilities (6,737) (7,450)
Operating lease obligations (16,177) (15,458)
Other, net 7,922 2,599
Net cash provided by (used in) operating activities from continuing operations (80,770) (149,296)
Net cash provided by (used in) operating activities from discontinued operations 0 0
Net cash provided by (used in) operating activities (80,770) (149,296)
Investing activities    
Purchases of property and equipment and capitalized software (24,460) (24,917)
Proceeds from sale or divestment of investment 4,245 31,605
Acquisitions of intangible assets and other investing activities (1,752) (2,692)
Net cash provided by (used in) investing activities from continuing operations (21,967) 3,996
Net cash provided by (used in) investing activities from discontinued operations 0 1,224
Net cash provided by (used in) investing activities (21,967) 5,220
Financing activities    
Proceeds from issuance of 2026 convertible notes 230,000 0
Proceeds from (payments of) borrowings under revolving credit agreement (100,000) 200,000
Issuance costs for 2026 convertible notes and revolving credit agreement (7,914) 0
Purchase of capped call transactions (27,416) 0
Payments for the repurchase of Atairos convertible notes (254,000) 0
Proceeds from the settlement of convertible note hedges 2,315 0
Payments for the settlement of warrants (1,345) 0
Taxes paid related to net share settlements of stock-based compensation awards (16,147) (7,274)
Payments of finance lease obligations (4,008) (5,301)
Other financing activities 94 (3,251)
Net cash provided by (used in) financing activities (178,421) 184,174
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (4,016) (5,724)
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (285,174) 34,374
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 0 1,224
Net increase (decrease) in cash, cash equivalents and restricted cash (285,174) 33,150
Cash, cash equivalents and restricted cash, beginning of period [1] 851,085 752,657
Cash, cash equivalents and restricted cash, end of period [1] 565,911 785,807
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest 11,251 9,387
Income tax payments for continuing operations 6,446 5,322
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating leases liabilities $ 0 $ 2,867
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the condensed consolidated balance sheets as of June 30, 2021, December 31, 2020, June 30, 2020 and December 31, 2019 (in thousands):
June 30, 2021December 31, 2020June 30, 2020December 31, 2019
Cash and cash equivalents$565,033 $850,587 $784,688 $750,887 
Restricted cash included in prepaid expenses and other current assets878 498 889 1,534 
Restricted cash included in other non-current assets— — 230 236 
Cash, cash equivalents and restricted cash$565,911 $851,085 $785,807 $752,657