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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 99,737 $ 115,910
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 56,547 45,627
Share-based compensation expense 44,369 37,966
Operating lease right-of-use assets - non cash 3,979  
Deferred income tax benefit (10,329) (5,034)
Changes in operating assets and liabilities, exclusive of effects of acquired companies:    
Accounts receivable (35,544) (31,393)
Income taxes 4,553 (1,942)
Prepaid expenses and other current assets (7,630) 983
Accounts payable 1,548 (4,729)
Operating lease liabilities (4,530)  
Accrued liabilities (1,379) 1,523
Deferred revenue 27,206 20,442
Net cash provided by operating activities 178,527 179,353
Cash flows from investing activities:    
Additions to property and equipment (28,833) (23,460)
Purchase of marketable security investments (27,322) (92,638)
Proceeds from marketable security investments 56,854 60,208
Investment in software (3,540) 0
Cost of acquisitions, net of cash acquired (199,870) (167,308)
(Increase) decrease in other (493) 857
Net cash used by investing activities (203,204) (222,341)
Cash flows from financing activities:    
Purchase of treasury shares (17,786) 0
Proceeds from exercise of stock options 62,295 70,536
Contributions from employee stock purchase plan 7,327 5,978
Net cash provided by financing activities 51,836 76,514
Net increase in cash and cash equivalents 27,159 33,526
Cash and cash equivalents at beginning of period 134,279 185,926
Cash and cash equivalents at end of period $ 161,438 $ 219,452