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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 27,348 $ 37,825
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 17,308 14,112
Share-based compensation expense 14,416 10,557
Deferred income tax benefit (4,785) (2,658)
Changes in operating assets and liabilities, exclusive of effects of acquired companies:    
Accounts receivable 9,622 30,227
Income taxes 12,425 4,053
Prepaid expenses and other current assets (3,064) 1,333
Accounts payable (1,501) (1,752)
Accrued liabilities (4,665) (17,952)
Deferred revenue (43,147) (31,114)
Net cash provided by operating activities 23,957 44,631
Cash flows from investing activities:    
Additions to property and equipment (12,320) (8,895)
Purchase of marketable security investments (3,590) (43,962)
Proceeds from marketable security investments 20,276 11,077
Investment in software (690) 0
Cost of acquisitions, net of cash acquired (199,130) 0
Decrease in other 564 743
Net cash used by investing activities (194,890) (41,037)
Cash flows from financing activities:    
Increase in net borrowings on revolving line of credit 85,000 0
Purchase of treasury shares (17,786) 0
Proceeds from exercise of stock options 6,528 19,298
Contributions from employee stock purchase plan 2,349 1,798
Net cash provided by financing activities 76,091 21,096
Net (decrease) increase in cash and cash equivalents (94,842) 24,690
Cash and cash equivalents at beginning of period 134,279 185,926
Cash and cash equivalents at end of period $ 39,437 $ 210,616