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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 74,997 $ 45,887
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,731 31,120
Deferred taxes 420 (206)
Non-cash equity-based compensation 26,639 17,681
Bad debt expense 182 1,586
Changes in operating assets and liabilities:    
Accounts receivable (1,628) (3,135)
Prepaid expenses and other current and non-current assets (11,469) 7,184
Accounts payable and other current and non-current liabilities 24,639 5,297
Long-term incentives related to acquisitions 0 (7,759)
Contributor royalties payable 1,200 (183)
Deferred revenue 13,147 2,753
Net cash provided by operating activities 161,858 100,225
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (21,167) (20,277)
Business combination, net of cash acquired (181,772) 0
Asset acquisitions (31,440) 0
Acquisition of content (7,890) (2,107)
Security deposit (payment) / release (138) 296
Net cash used in investing activities (242,407) (22,088)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from issuance of common stock 0 23,153
Purchase of treasury shares (4,171) 0
Proceeds from exercise of stock options 2,018 629
Cash paid related to settlement of employee taxes related to RSU vesting (21,273) (3,861)
Payment of cash dividend (23,000) (18,247)
Net cash (used in) / provided by financing activities (46,426) 1,674
Effect of foreign exchange rate changes on cash (1,020) (2,558)
Net (decrease) / increase in cash, cash equivalents and restricted cash (127,995) 77,253
Cash, cash equivalents and restricted cash, beginning of period 428,574 305,874
Cash, cash equivalents and restricted cash, end of period 300,579 383,127
Supplemental Disclosure of Cash Information:    
Cash paid for income taxes $ 14,811 $ 2,767