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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income attributable to Ebix, Inc. $ 96,720 $ 93,139 $ 100,618
Net income attributable to noncontrolling (6,149) (58) 1,965
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 14,468 11,292 11,123
Provision for doubtful accounts 12,325 3,571 1,713
Provision for deferred taxes, net of acquisitions and effects of currency translation (15,525) (13,043) (13,667)
Unrealized foreign exchange losses 1,104 606 1,387
Operating Leases, Right-of-Use Asset, Amortization 7,144 0 0
Amortization of capitalized software development costs 2,696 2,233 2,175
Share-based compensation 3,397 2,811 2,818
Reduction of acquisition earn-out contingent liability (16,543) (1,391) (164)
Changes in current assets and liabilities, net of acquisitions:      
Accounts receivable (22,977) 15,839 (34,245)
Increase (Decrease) in Operating Assets 10,950 (36,557) 0
Increase (Decrease) in Operating Liabilities (13,455) 25,651 0
Other assets (8,351) (8,486) (2,133)
Accounts payable and accrued expenses (19,624) (11,787) 7,958
Accrued payroll and related benefits (661) (788) (3,979)
Lease liabilities (6,878) (360) (413)
Reserve for potential uncertain income tax return positions (95) 149 5,879
Other liabilities 30,396 13,205 252
Contract liabilities (8,149) (8,740) (4,480)
Net cash provided by operating activities 60,793 87,286 76,807
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired (105,466) (232,557) (192,161)
Payments to Noncontrolling Interests (5,348)    
Proceeds from Noncontrolling Interests   4,996 0
Payment for Contingent Consideration Liability, Investing Activities 0 (3,831) (1,921)
Purchases of marketable securities   (4,087)  
Maturities of marketable securities 27,015   1,201
Capitalized software development costs (7,989) (8,079) (2,805)
Capital expenditures (4,908) (8,032) (7,385)
Net cash used in investing activities (96,696) (251,590) (203,071)
Cash flows from financing activities:      
Proceeds from / (Repayment) to line of credit, net 13,500 150,008 120,500
Proceeds from term loan 0 175,500 20,000
Principal payments on term loan obligation (15,063) (10,016) (13,000)
Increase (Decrease) in Short Term Third Party Loans 6,450 (8,341) 0
Increase (Decrease) in Bank Overdrafts 19,079 (8,094) 6,162
Repurchase of common stock (12,952) (40,820) (45,732)
Payments of long term debt (686) (80) 0
Payments for capital lease obligations 0 (6) (11)
Proceeds from exercise of common stock options 0 439 52
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (230) (467) (398)
Dividends paid (9,193) (9,316) (9,545)
Net cash provided (used) by financing activities 905 248,807 78,028
Effect of foreign exchange rates on cash and cash equivalents (3,314) (5,689) 2,162
Net change in cash and cash equivalents, and restricted cash (38,312) 78,814 (46,074)
Cash and cash equivalents, and restricted cash at the end of the year 73,228 137,858 63,895
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 111,369 149,681 70,867
Supplemental disclosures of cash flow information:      
Interest paid 41,143 25,690 12,552
Income taxes paid $ 24,041 $ 10,149 $ 10,426