XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net income $ 409,949 $ 263,170
Loss from discontinued operations 0 42,704
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 161,582 149,813
Stock-based compensation expense 144,306 127,219
Deferred income tax expense 2,508 32,367
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies 7,226 (8,063)
Other non-cash items 5,558 9,608
Total adjustments to reconcile net income to net cash provided by operating activities 321,180 310,944
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable 296,286 216,139
Inventories (7,549) (3,350)
Prepaid expenses and other current assets (51,726) (15,836)
Other assets (17,540) (2,393)
Income taxes, net (83,273) (58,278)
Accounts payable 2,945 (17,039)
Accrued expenses and other current liabilities 40,503 (17,372)
Deferred revenues (85,072) (10,746)
Other liabilities 3,233 2,645
Total changes in operating assets and liabilities, net of the effects of acquisitions 97,807 93,770
Net cash provided by operating activities of continuing operations 828,936 710,588
Net cash used in operating activities of discontinued operations 0 (56,070)
Net cash provided by operating activities 828,936 654,518
Investing Activities    
Purchases of available-for-sale investments (435,876) (966,067)
Proceeds from sales of available-for-sale investments 442,360 678,533
Proceeds from maturities of available-for-sale investments 320,259 377,719
Purchases of property and equipment (54,289) (61,670)
Cash paid for acquisitions, net of cash acquired (65,983) (60,449)
Cash paid for licensing agreements and technology (2,140) (5,865)
Other 1,399 490
Net cash provided by investing activities of continuing operations 205,730 (37,309)
Net cash used in investing activities of discontinued operations 0 (3,891)
Net cash provided by investing activities 205,730 (41,200)
Financing Activities    
Proceeds from issuance of common stock under stock-based compensation plans 164 2,094
Proceeds from credit facility 0 165,000
Repayment of credit facility 0 (125,000)
Repayment of acquired debt (5,674) (4,000)
Stock repurchases, net (881,153) (574,957)
Cash paid for tax withholding on vested stock awards (53,589) (71,179)
Transfer of cash to GoTo Business resulting from the separation 0 (28,523)
Net cash used in financing activities (940,252) (636,565)
Effect of exchange rate changes on cash and cash equivalents (4,362) 7,160
Change in cash and cash equivalents 90,052 (16,087)
Cash and cash equivalents at beginning of period, including cash of discontinued operations of $0 and $120,861, respectively 1,115,130 956,956
Cash and cash equivalents at end of period $ 1,205,182 $ 940,869