XML 20 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2017
Feb. 29, 2016
Feb. 28, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (7,904) $ 16,940 $ 16,508
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 8,408 3,582 2,796
Intangible assets amortization expense 15,061 6,626 6,590
Stock-based compensation expense 7,833 5,854 4,100
Amortization of convertible debt issue costs and discount 7,027 5,201
Deferred tax assets, net (2,735) 4,122 7,927
Gain on investment in LoJack common stock (1,416)
Equity in net loss of affiliate 1,284 829
Impairment of internal use software 1,364
Changes in operating assets and liabilities:      
Accounts receivable 3,090 (1,515) (11,058)
Inventories 221 1,935 (3,704)
Prepaid expenses and other assets (178) (280) (2,076)
Accounts payable (4,623) 926 3,504
Accrued liabilities (5,171) 5,972 1,314
Deferred revenue 2,151 (1,310) 2,497
Other (32) (66) 247
NET CASH PROVIDED BY OPERATING ACTIVITIES 25,796 47,400 28,645
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities of marketable securities 114,426 71,991 15,145
Purchases of marketable securities (32,430) (150,532) (16,304)
Capital expenditures (7,962) (4,317) (7,437)
Acquisition of CrashBoxx (1,500)
Acquisition of LoJack, net of cash acquired (116,982) (4,050)
Equity investment in and advances to affiliate (2,636) (2,156)
Other (2) (110) (55)
NET CASH USED IN INVESTING ACTIVITIES (45,586) (90,674) (8,651)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of convertible notes 172,500
Payment of debt issuance costs (5,291)
Purchase of convertible note hedges (31,343)
Proceeds from issuance of warrants 15,991
Net repayments of bank term loan
Payment of acquisition-related note and contingent consideration (2,037) (2,673)
Repurchases of common stock (25,000)
Taxes paid related to net share settlement of vested equity awards (1,780) (2,625) (3,088)
Proceeds from exercise of stock options 961 1,283 718
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (25,819) 148,478 (5,043)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (73)
Net change in cash and cash equivalents (45,682) 105,204 14,951
Cash and cash equivalents at beginning of year 139,388 34,184 19,233
Cash and cash equivalents at end of year $ 93,706 $ 139,388 $ 34,184