XML 76 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 67,062 $ 68,921 $ 5,135
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation 24,092 23,805 24,871
Amortization 98,477 73,545 77,353
Amortization of operating lease right-of-use assets 15,934 0 0
Amortization of deferred debt issuance costs 4,128 4,637 4,286
Deferred income taxes (22,140) (5,734) 21,660
Stock-based compensation expense 36,763 20,360 13,683
Other 5,175 2,007 435
Changes in operating assets and liabilities, net of impact of acquisitions:      
Receivables (19,054) (14,760) (8,243)
Accounts payable (7,703) 5,766 (1,700)
Accrued employee compensation (10,829) (9,684) 94
Current income taxes (1,137) (5,115) (4,227)
Deferred revenue (37,561) 14,219 439
Other current and noncurrent assets and liabilities (15,558) 5,965 12,411
Net cash flows from operating activities 137,649 183,932 146,197
Cash flows from investing activities:      
Purchases of property and equipment (23,099) (18,265) (25,717)
Purchases of software and distribution rights (24,915) (25,628) (28,697)
Acquisition of businesses, net of cash acquired (757,268) 0 0
Other (25,199) (1,467) 0
Net cash flows from investing activities (830,481) (45,360) (54,414)
Cash flows from financing activities:      
Proceeds from issuance of common stock 3,591 3,098 2,958
Proceeds from exercises of stock options 12,985 19,674 13,872
Repurchase of stock-based compensation awards for tax withholdings (3,986) (2,588) (5,311)
Repurchase of common stock (35,617) (54,527) (37,387)
Proceeds from senior notes 0 400,000 0
Redemption of senior notes 0 (300,000) 0
Proceeds from revolving credit facility 280,000 109,000 67,000
Repayments of revolving credit facility (41,000) (111,000) (153,000)
Proceeds from term portion of credit agreement 500,000 0 415,000
Repayments of term portion of credit agreement (28,900) (109,289) (386,040)
Payment for debt issuance costs (12,830) (7,319) (5,340)
Payments on or proceeds from other debt, net (7,020) (4,753) (9,900)
Net cash flows from financing activities 667,223 (57,704) (98,148)
Effect of exchange rate fluctuations on cash (1,495) (2,076) 322
Net increase (decrease) in cash and cash equivalents (27,104) 78,792 (6,043)
Cash and cash equivalents, beginning of period 148,502 69,710 75,753
Cash and cash equivalents, end of period 121,398 148,502 69,710
Supplemental cash flow information      
Income taxes paid, net 27,727 32,205 37,817
Interest paid $ 58,980 $ 35,300 $ 34,976