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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 39,243 $ 22,936
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 39,525 37,490
Loss on disposal of property and equipment 436 136
Share-based compensation expense 25,175 20,851
Deferred income taxes 4,023 (8,849)
Amortization of operating lease right-of-use assets 7,917 0
Amortization of debt financing fees 1,718 1,718
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivables (7,716) (16,179)
Inventories (7,015) (5,288)
Prepaid expenses (1,341) 774
Other current assets 974 3,120
Investment in sales-type leases (5,120) (1,732)
Prepaid commissions 909 991
Other long-term assets 3,944 (6,188)
Accounts payable 10,316 (8,439)
Accrued compensation (8,161) 5,712
Accrued liabilities 5,262 1,482
Deferred revenues 3,900 9,014
Operating lease liabilities (7,887) 0
Other long-term liabilities 4,086 (1,035)
Net cash provided by operating activities 110,188 56,514
Investing Activities    
Software development for external use (34,129) (22,213)
Purchases of property and equipment (12,632) (19,259)
Net cash used in investing activities (46,761) (41,472)
Financing Activities    
Repayment of debt and revolving credit facility (60,000) (27,000)
At the market offering, net of offering costs 37,806 0
Proceeds from stock issuances under stock-based compensation plans 35,029 27,729
Employees’ taxes paid related to restricted stock units (5,790) (3,648)
Net cash provided by (used in) financing activities 7,045 (2,919)
Effect of exchange rate changes on cash and cash equivalents (387) (373)
Net increase in cash and cash equivalents 70,085 11,750
Cash and cash equivalents at beginning of period 67,192 32,424
Cash and cash equivalents at end of period 137,277 44,174
Supplemental disclosure of non-cash activities    
Unpaid purchases of property and equipment 756 388
Transfers between inventory and property and equipment, net 1,549 2,194
Transfers from prepaid expenses to property and equipment 3,313 0
Right-of-use assets obtained in exchange for new operating lease liabilities $ 957 $ 0