XML 21 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net income $ 79,533 $ 63,558 $ 59,274
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 10,634 9,681 10,107
Provision for doubtful accounts 3,111 1,600 1,147
Provision for deferred taxes, net of acquisitions and effects of currency translation (10,143) (1,966) (10,368)
Unrealized foreign exchange (gain)/losses (1,743) (741) (237)
Unrealized gain on put option 0 (296) (341)
Share-based compensation 1,821 1,792 1,941
Debt discount amortization on convertible debt 17 35 42
Reduction of acquisition earn-out contingent liability (1,533) (10,237) (10,253)
Changes in current assets and liabilities, net of acquisitions:      
Accounts receivable (7,320) (1,530) (3,347)
Other assets (3,834) (4,765) 80
Accounts payable and accrued expenses (19,895) 14,670 1,135
Accrued payroll and related benefits (60) 1,811 (1,866)
Deferred rent (656) (324) (87)
Reserve for potential uncertain income tax return positions 95 (9,723) 6,817
Liability – securities litigation settlement (690) (3,528) 4,226
Other liabilities 1,111 (221) (225)
Deferred revenue (1,762) (1,306) (983)
Net cash provided by operating activities 48,686 58,510 57,062
Cash flows from investing activities:      
investments in joint ventures (6,000) 0 0
Purchases of marketable securities (1,435) 0 0
Maturities of marketable securities 0 495 107
Capitalized software development costs (3,489) 0 0
Capital expenditures (13,994) (16,277) (1,230)
Net cash used in investing activities (37,393) (77,786) (8,840)
Cash flows from financing activities:      
Proceeds from / (Repayment) to line of credit, net 86,000 97,625 (15,000)
Principal payments on term loan obligation (642) (31,938) (8,938)
Repurchase of common stock (81,653) (31,854) (2,492)
Payments of long term debt 0 (345) (665)
Payments for capital lease obligations (10) (231) (277)
Excess Tax Benefit (Provision) From Share Based Compensation, Financing Activities 463 (3,200) 3,237
Proceeds from exercise of common stock options 2,209 788 2,161
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (2,202) (41) (1,681)
Shares reacquired in connection with put option 0 (3,535) 0
Dividends paid (10,472) (11,406) (2,794)
Net cash provided (used) by financing activities (6,307) 15,863 (26,449)
Effect of foreign exchange rates on cash and cash equivalents (107) (961) (1,548)
Net change in cash and cash equivalents 4,879 (4,374) 20,225
Cash and cash equivalents at the beginning of the year 52,300 56,674 36,449
Cash and cash equivalents at the end of the year 57,179 52,300 56,674
Supplemental disclosures of cash flow information:      
Interest paid 5,379 1,290 1,169
Income taxes paid 28,637 11,433 13,779
Via Media Health [Member]      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired (1,000) 0 0
PB Systems [Member]      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired (11,475) 0 0
Curepet, Inc.      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 3 0
ADAM      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (5,856) 0
Vertex      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (27,547) 0
Oakstone      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (23,791) 0
I3      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (2,000) 0
Qatarlyst      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired $ 0 $ 0 (4,740)
USIX      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies (727)
Taimma      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies $ 0 $ (2,250) (2,250)
TriSystems      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies $ 0 $ (563) $ 0