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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 194,820 $ 146,527 $ 147,462
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 81,657 76,672 61,759
Share-based compensation expense 67,365 59,967 52,740
Provision for losses and sales adjustments - accounts receivable 3,517 1,636 (569)
Operating lease right-of-use assets - non cash 5,782 5,397 0
Deferred income tax benefit (7,936) (6,088) (5,069)
Changes in operating assets and liabilities, exclusive of effects of    acquired companies:      
Accounts receivable (10,733) (65,738) (50,916)
Income tax receivable (15,117) (1,925) 6,642
Prepaid expenses and other current assets (8,304) (8,976) (588)
Accounts payable (967) 7,403 (2,416)
Operating lease liabilities (6,549) (6,113) 0
Accrued liabilities 2,870 1,516 (2,445)
Deferred revenue 48,684 44,442 43,603
Net cash provided by operating activities 355,089 254,720 250,203
Cash flows from investing activities:      
Additions to property and equipment (22,690) (37,236) (27,424)
Purchase of marketable security investments (156,618) (54,742) (115,625)
Proceeds from marketable security investments 82,742 70,796 81,205
Purchase of equity investment in common shares (10,000) 0 0
Proceeds from the sale of equity investment in preferred shares 15,000 0 0
Capitalized software development costs (5,776) (4,804) 0
Cost of acquisitions, net of cash acquired (1,292) (218,734) (178,093)
Decrease (increase) in other 314 (295) 1,682
Net cash used by investing activities (98,320) (245,015) (238,255)
Cash flows from financing activities:      
Decrease in net borrowings on revolving line of credit 0 0 0
Purchase of treasury shares (15,484) (17,786) (146,553)
Payment of contingent consideration (5,619) 0 0
Proceeds from exercise of stock options 124,363 96,908 74,907
Contributions from employee stock purchase plan 10,912 9,576 8,051
Net cash provided (used) by financing activities 114,172 88,698 (63,595)
Net increase (decrease) in cash and cash equivalents 370,941 98,403 (51,647)
Cash and cash equivalents at beginning of period 232,682 134,279 185,926
Cash and cash equivalents at end of period $ 603,623 $ 232,682 $ 134,279