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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 23,305 $ 10,821
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,370 25,319
Deferred taxes 693 (1,312)
Non-cash equity-based compensation 9,396 12,375
Bad debt expense 1,086 (635)
Changes in operating assets and liabilities:    
Accounts receivable (3,279) (2,746)
Prepaid expenses and other current and non-current assets 49 1,944
Accounts payable and other current and non-current liabilities (4,045) 1,899
Long-term incentives related to acquisitions (7,759) 0
Contributor royalties payable (840) 1,059
Deferred revenue (3,633) (1,981)
Net cash provided by operating activities 36,343 46,743
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (13,966) (13,726)
Proceeds from sale of Webdam, net 0 2,500
Acquisition of content (1,577) (1,277)
Security deposit release 105 25
Net cash used in investing activities (15,438) (12,478)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 629 218
Cash paid related to settlement of employee taxes related to RSU vesting (3,436) (5,181)
Payment of cash dividend (12,098) 0
Net cash used in financing activities (14,905) (4,963)
Effect of foreign exchange rate changes on cash (717) (1,085)
Net increase in cash, cash equivalents and restricted cash 5,283 28,217
Cash, cash equivalents and restricted cash, beginning of period 305,874 233,465
Cash, cash equivalents and restricted cash, end of period 311,157 261,682
Supplemental Disclosure of Cash Information:    
Cash paid for income taxes $ 927 $ 1,480