XML 26 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities attributable to continuing operations:      
Net earnings $ 113,374 $ 409,230 $ 283,725
Less: earnings from discontinued operations, net of tax 17 174,673 1,926
Earnings from continuing operations 113,357 234,557 281,799
Adjustments to reconcile earnings from continuing operations to net cash provided by operating activities attributable to continuing operations:      
Stock-based compensation expense 105,450 59,634 53,005
Depreciation 62,205 61,156 58,909
Amortization of intangibles 139,952 57,926 59,843
Impairment of long-term investments 6,689 66,601 5,268
Goodwill impairment 14,056 0 0
Excess tax benefits from stock-based awards (56,418) (44,957) (32,891)
Deferred income taxes (59,786) 76,869 (9,096)
Equity in (earnings) losses of unconsolidated affiliates (772) 9,697 6,615
Acquisition-related contingent consideration fair value adjustments (15,461) (13,367) 343
Gain on real estate transaction (34,341) 0 0
Gains on sales of long-term investments, assets and a business (1,005) (21,946) (50,608)
Other adjustments, net 26,496 20,789 19,254
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable (29,680) (19,918) 10,421
Other assets (21,174) (3,606) (34,632)
Accounts payable and other current liabilities 8,989 5,206 (766)
Income taxes payable 24,167 (94,492) 49,191
Deferred revenue 66,914 30,142 (5,841)
Other changes in assets and liabilities, net (233) (243) 147
Net cash provided by operating activities attributable to continuing operations 349,405 424,048 410,961
Cash flows from investing activities attributable to continuing operations:      
Acquisitions, net of cash acquired (617,402) (259,391) (40,434)
Capital expenditures (62,049) (57,233) (80,311)
Proceeds from maturities and sales of marketable debt securities 218,462 21,644 12,502
Purchases of marketable debt securities (93,134) (175,826) 0
Proceeds from sales of long-term investments, assets and a business 9,413 58,388 83,091
Purchases of long-term investments (34,470) (24,334) (51,080)
Other, net (3,541) (3,042) (3,529)
Net cash used in investing activities attributable to continuing operations (582,721) (439,794) (79,761)
Cash flows from financing activities attributable to continuing operations:      
Borrowings under Match Group Term Loan 788,000 0 0
Debt issuance costs (19,050) (383) (7,399)
Fees and expenses related to note exchange (6,954) 0 0
Proceeds from issuance of long-term debt 0 0 500,000
Principal payments on long-term debt (80,000) 0 (15,844)
Proceeds from Match Group initial public offering, net of fees and expenses 428,789 0 0
Purchase of treasury stock (200,000) 0 (264,214)
Dividends (113,196) (97,338) (79,189)
Issuance of common stock, net of withholding taxes (38,418) 1,609 (5,077)
Repurchase of stock-based awards (23,431) 0 0
Excess tax benefits from stock-based awards 56,418 44,957 32,891
Purchase of noncontrolling interests (32,207) (33,165) (67,947)
Acquisition-related contingent consideration payments (5,750) (8,109) (256)
Funds returned from (transferred to) escrow for Meetic tender offer 0 12,354 (71,512)
Other, net (19,393) (905) (3,787)
Net cash provided by (used in) financing activities attributable to continuing operations 734,808 (80,980) 17,666
Total cash provided by (used in) continuing operations 501,492 (96,726) 348,866
Total cash used in discontinued operations (152) (145) (1,877)
Effect of exchange rate changes on cash and cash equivalents (10,298) (13,168) 3,478
Net increase (decrease) in cash and cash equivalents 491,042 (110,039) 350,467
Cash and cash equivalents at beginning of period 990,405 1,100,444 749,977
Cash and cash equivalents at end of period $ 1,481,447 $ 990,405 $ 1,100,444