XML 18 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 64,869 $ 58,940 $ 39,101
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 19,574 14,605 13,786
Share-based compensation expense 20,182 14,819 11,653
Provision for losses - accounts receivable 1,756 1,897 729
Excess tax benefit from exercises of share-based arrangements (45,314) (19,402) (28,207)
Deferred income tax benefit (7,956) (3,804) (1,497)
Changes in operating assets and liabilities, exclusive of effects of acquired companies:      
Accounts receivable (28,172) (8,912) (7,488)
Income tax receivable 24,255 29,117 18,898
Prepaid expenses and other current assets (3,054) (3,696) (4,154)
Accounts payable 652 1,586 (574)
Accrued liabilities 490 6,326 7,655
Deferred revenue 41,731 31,961 16,188
Net cash provided by operating activities 89,013 123,437 66,090
Cash flows from investing activities:      
Cost of acquisitions, net of cash acquired (339,961) (3,242) (181)
Purchase of cost method investment (15,000)    
Purchase of marketable security investments (31,907)    
Proceeds from marketable security investments 900 808 1,090
Additions to property and equipment (12,501) (9,343) (26,858)
Decrease in other 10 222 291
Net cash used by investing activities (398,459) (11,555) (25,658)
Cash flows from financing activities:      
Increase (decrease) in net borrowings on revolving line of credit 66,000   (18,000)
Purchase of treasury shares (645) (22,817)  
Contributions from employee stock purchase plan 4,671 4,144 3,542
Proceeds from exercise of stock options 23,160 14,680 18,289
Debt issuance costs (2,134)    
Excess tax benefit from exercises of share-based arrangements 45,314 19,402 28,207
Net cash provided by financing activities 136,366 15,409 32,038
Net (decrease) increase in cash and cash equivalents (173,080) 127,291 72,470
Cash and cash equivalents at beginning of period 206,167 78,876 6,406
Cash and cash equivalents at end of period $ 33,087 $ 206,167 $ 78,876