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CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings (loss) $ 35,314 $ 77,507 $ (104,527)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Stock-based compensation expense 68,255 97,078 149,230
Amortization of intangibles 55,482 62,212 23,261
Bad debt expense 64,278 47,242 27,514
Depreciation 39,915 24,310 14,543
Deferred income taxes (3,250) (8,368) (48,350)
Loss (gain) from the sale of a business 218 (13,237) 0
Other adjustments, net 7,987 (519) (911)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:      
Accounts receivable (78,954) (47,686) (33,179)
Other assets 13,382 (12,959) 4,523
Accounts payable and other liabilities 13,627 (576) 778
Income taxes payable and receivable 1,650 725 (2,054)
Deferred revenue (3,743) (2,029) 10,995
Net cash provided by operating activities 214,161 223,700 41,823
Cash flows from investing activities:      
Acquisitions, net of cash acquired (20,341) 3,669 (66,340)
Capital expenditures (68,804) (46,976) (26,837)
Proceeds from maturities of marketable debt securities 25,000 35,000  
Purchases of marketable debt securities 0 (59,671) 0
Net proceeds from the sale of a business 23,615 0 0
Proceeds from sale of fixed assets   10,412  
Other, net (103) (25)  
Net cash used in investing activities (40,633) (57,591) (93,177)
Cash flows from financing activities:      
Borrowings under term loan 0 0 275,000
Principal payments on term loan (13,750) (13,750) 0
Debt issuance costs 0 (2,168) (3,013)
Proceeds from issuance of related party debt 0 0 131,360
Principal payments on related party debt (1,008) (1,904) (181,580)
Purchase of treasury stock (56,905) 0 0
Proceeds from the exercise of stock options 573 4,693 1,653
Withholding taxes paid on behalf of employees on net settled stock-based awards (35,284) (29,844) (10,113)
Transfers from IAC for periods prior to the Combination 0 0 24,178
Distribution to IAC pursuant to tax sharing agreement (11,355) 0 0
Purchase of noncontrolling interests (71) (6,061) (12,789)
Other, net (3,732) 13 37
Net cash (used in) provided by financing activities (121,532) (49,021) 224,733
Total cash provided 51,996 117,088 173,379
Effect of exchange rate changes on cash and cash equivalents and restricted cash 661 212 1,217
Net increase in cash and cash equivalents and restricted cash 52,657 117,300 174,596
Cash and cash equivalents and restricted cash at beginning of period 338,821 221,521 46,925
Cash and cash equivalents and restricted cash at end of period $ 391,478 $ 338,821 $ 221,521