XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 32,306 $ 18,224
Adjustments to reconcile net income to cash provided (used) by operations:    
Depreciation and amortization 13,099 12,176
Share-based compensation expense 8,676 6,480
Deferred income tax (benefit) expense (4,089) 92
Changes in operating assets and liabilities, exclusive of effects of acquired companies:    
Accounts receivable 36,514 35,750
Income taxes 7,576 9,187
Prepaid expenses and other current assets (557) 2,074
Accounts payable (1,166) (473)
Accrued liabilities (15,939) (11,738)
Deferred revenue (28,241) (30,451)
Net cash provided by operating activities 48,179 41,321
Cash flows from investing activities:    
Additions to property and equipment (19,820) (16,722)
Purchase of marketable security investments (7,128) (6,410)
Sale of marketable security investments 6,896 3,025
Cost of acquisitions, net of cash acquired 0 (2,000)
Increase in other (16) (49)
Net cash used by investing activities (20,068) (22,156)
Cash flows from financing activities:    
(Decrease) increase in net borrowings on revolving line of credit (10,000) 74,000
Purchase of treasury shares (7,032) (93,930)
Proceeds from exercise of stock options 14,851 1,781
Contributions from employee stock purchase plan 1,650 1,238
Net cash used by financing activities (531) (16,911)
Net increase in cash and cash equivalents 27,580 2,254
Cash and cash equivalents at beginning of period 36,151 33,087
Cash and cash equivalents at end of period $ 63,731 $ 35,341