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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net earnings $ 9,230 $ 35,409
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Stock-based compensation expense 55,031 45,586
Amortization of intangibles 38,846 42,421
Provision for credit losses 60,090 49,294
Depreciation 38,614 27,039
Deferred income taxes (18,081) (8,294)
Other adjustments, net 8,694 6,371
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts receivable (70,705) (66,596)
Other assets 5,200 15,701
Accounts payable and other liabilities 46,941 30,609
Income taxes payable and receivable (570) 1,628
Deferred revenue (105) 2,916
Net cash provided by operating activities 173,185 182,084
Cash flows from investing activities:    
Acquisition, net of cash acquired 0 (20,341)
Capital expenditures (37,637) (54,801)
Purchases of marketable debt securities (49,987) 0
Proceeds from maturities of marketable debt securities   25,000
Net proceeds from the sale of a business 730 23,615
Other, net   (103)
Net cash used in investing activities (86,894) (26,630)
Cash flows from financing activities:    
Proceeds from Issuance of Long-term Debt 500,000 0
Principal payments on Term Loan (10,313) (10,313)
Principal payments on related-party debt 0 (1,008)
Debt issuance costs (5,635) 0
Purchase of treasury stock (54,400) (33,979)
Proceeds from the exercise of stock options 0 573
Withholding taxes paid on behalf of employees on net settled stock-based awards (49,993) (30,039)
Distribution from (to) IAC pursuant to the tax sharing agreement 3,071  
Distribution from (to) IAC pursuant to the tax sharing agreement   (11,355)
Purchase of noncontrolling interests (4,280) (71)
Other, net 0 (3,732)
Net cash provided by (used in) financing activities 378,450 (89,924)
Total cash provided 464,741 65,530
Effect of exchange rate changes on cash and cash equivalents and restricted cash (354) 387
Net increase in cash and cash equivalents and restricted cash 464,387 65,917
Cash and cash equivalents and restricted cash at beginning of period 391,478 338,821
Cash and cash equivalents and restricted cash at end of period $ 855,865 $ 404,738