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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 146,527 $ 147,462 $ 169,571
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 76,672 61,759 53,395
Share-based compensation expense 59,967 52,740 37,348
Provision for losses and sales adjustments - accounts receivable 1,636 (569) 2,031
Operating lease right-of-use assets - non cash 5,397    
Deferred income tax benefit (6,088) (5,069) (33,664)
Changes in operating assets and liabilities, exclusive of effects of acquired companies:      
Accounts receivable (65,738) (50,916) (33,091)
Income tax receivable (1,925) 6,642 (8,444)
Prepaid expenses and other current assets (8,976) (588) (6,958)
Accounts payable 7,403 (2,416) 878
Operating lease liabilities (6,113)    
Accrued liabilities 1,516 (2,445) 6,050
Deferred revenue 44,442 43,603 8,639
Net cash provided by operating activities 254,720 250,203 195,755
Cash flows from investing activities:      
Additions to property and equipment (37,236) (27,424) (43,057)
Purchase of marketable security investments (54,742) (115,625) (59,779)
Proceeds from marketable security investments 70,796 81,205 28,786
Capitalized software development costs (4,804) 0 0
Cost of acquisitions, net of cash acquired (218,734) (178,093) (11,344)
(Increase) decrease in other (295) 1,682 (1)
Net cash used by investing activities (245,015) (238,255) (85,395)
Cash flows from financing activities:      
Decrease in net borrowings on revolving line of credit 0 0 (10,000)
Purchase of treasury shares (17,786) (146,553) (7,474)
Proceeds from exercise of stock options 96,908 74,907 49,845
Contributions from employee stock purchase plan 9,576 8,051 7,044
Net cash provided (used) by financing activities 88,698 (63,595) 39,415
Net increase (decrease) in cash and cash equivalents 98,403 (51,647) 149,775
Cash and cash equivalents at beginning of period 134,279 185,926 36,151
Cash and cash equivalents at end of period $ 232,682 $ 134,279 $ 185,926