XML 42 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:        
Net income $ 46,002 $ 79,000 $ 107,073 $ 164,386
Adjustments to reconcile net income to net cash flows from operating activities:        
Depreciation and amortization 7,695 7,040 15,115 13,882
Provision for doubtful accounts 19,006 17,487 34,607 30,154
Deferred income taxes (6,334) (4,492) (10,076) (7,177)
Excess tax benefit from stock option exercises (574) (627) (1,379) (978)
Stock-based compensation expense 4,272 4,758 8,755 8,672
Other 96 (987) (243) (2,417)
Changes in operating assets and liabilities:        
Restricted cash 372 1,433 1,377 (132)
Accounts receivable (38,270) (4,730) (60,176) (8,258)
Accounts payable 3,113 (6,681) 1,901 (1,912)
Other operating assets and liabilities (15,400) (32,886) 6,766 24,036
Deferred revenue (58,274) 1,307 (104,670) 22,485
Net cash flows from operating activities (38,296) 60,622 (950) 242,741
Cash flows from investing activities:        
Facility expenditures and land purchases (253) (1,173) (385) (1,675)
Capital expenditures, net (7,117) (7,487) (11,635) (12,186)
Proceeds from sales and maturities of investments and repayment of notes 117,216 118,307 216,171 260,392
Purchase of investments and note advances 0 (123,104) (63,545) (281,693)
Net cash flows from investing activities 109,846 (13,457) 140,606 (35,162)
Cash flows from financing activities:        
Excess tax benefit from stock option exercises 574 627 1,379 978
Proceeds from exercise of stock options 3,423 1,955 8,091 4,983
Debt issue costs 0 0 (1,525) 0
Proceeds from revolving borrowings 0 0 175,000 0
Repayment of revolving borrowings (25,000) 0 (175,000) 0
Repurchase of common stock and shares tendered for taxes (61,789) (79,434) (209,360) (219,084)
Net cash flows from financing activities (82,792) (76,852) (201,415) (213,123)
Net change in cash and cash equivalents (11,242) (29,687) (61,759) (5,544)
Cash and cash equivalents at beginning of period 178,476 187,922 228,993 163,779
Cash and cash equivalents at end of period $ 167,234 $ 158,235 $ 167,234 $ 158,235