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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,522 $ 32,581
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,916 10,943
Deferred taxes 699 (1,644)
Non-cash equity-based compensation 4,624 5,606
Gain on Sale of Webdam 0 (38,613)
Bad debt expense (632) 238
Changes in operating assets and liabilities:    
Accounts receivable (3,812) 561
Prepaid expenses and other current and non-current assets (2,782) (7,688)
Accounts payable and other current and non-current liabilities 1,994 15,247
Contributor royalties payable 2,138 3,027
Deferred revenue (1,958) 836
Net cash provided by operating activities 19,709 21,094
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (7,253) (14,975)
Acquisition of businesses, net of cash acquired 0 (845)
Proceeds from Sale of Webdam, net 2,500 42,338
Other investments / advances 0 (15,000)
Acquisition of digital content (545) (635)
Security deposit release 0 34
Net cash used in investing activities (5,298) 10,917
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 214 1,185
Cash paid related to settlement of employee taxes related to RSU vesting (4,090) (4,033)
Net cash used in financing activities (3,876) (2,848)
Effect of foreign exchange rate changes on cash (1,246) 2,291
Net increase in cash, cash equivalents and restricted cash 9,289 31,454
Cash, cash equivalents and restricted cash, beginning of period 233,465 256,041
Cash, cash equivalents and restricted cash, end of period 242,754 287,495
Supplemental Disclosure of Cash Information:    
Cash paid / (received) for income taxes $ 305 $ (1,835)