XML 22 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net Income $ 129,535 $ 85,436 $ 67,560
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation 22,584 21,656 20,506
Amortization 80,870 75,775 66,177
Amortization of deferred debt issuance costs 5,567 6,244 5,877
Deferred income taxes 17,702 19,328 8,437
Stock-based compensation expense 43,613 18,380 11,045
Gain on sale of available-for-sale equity securities   (24,465)  
Gain on sale of CFS assets (151,463)    
Other 806 2,725 1,852
Changes in operating assets and liabilities, net of impact of acquisitions:      
Receivables (76,460) (11,355) (30,643)
Accounts payable (13,920) 8,557 (3,422)
Accrued employee compensation 18,060 (1,998) (6,360)
Current income taxes 14,510 (8,244) 10,968
Deferred revenue 3,015 (4,513) 15,738
Other current and noncurrent assets and liabilities 5,411 468 (6,902)
Net cash flows from operating activities 99,830 187,994 160,833
Cash flows from investing activities:      
Purchases of property and equipment (40,812) (27,283) (17,627)
Purchases of software and distribution rights (22,268) (21,622) (17,273)
Proceeds from sale of available-for-sale equity securities   35,311  
Proceeds from sale of CFS assets 199,481    
Acquisition of businesses, net of cash acquired 232 (179,367) (204,290)
Other (7,000) (7,000) (1,500)
Net cash flows from investing activities 129,633 (199,961) (240,690)
Cash flows from financing activities:      
Proceeds from issuance of common stock 2,987 3,104 2,780
Proceeds from exercises of stock options 9,325 12,175 16,461
Repurchases of common stock (60,089)   (70,000)
Repurchase of restricted stock and performance shares for tax withholdings (2,975) (4,649) (5,120)
Proceeds from revolving credit facility 76,000 298,000 169,500
Proceeds from term portion of credit agreement     150,000
Repayments of revolving credit facility (166,000) (164,000) (125,500)
Repayment of term portion of credit agreement (95,293) (87,352) (57,449)
Payments on other debt and capital leases (14,376) (12,638) (8,344)
Payment for debt issuance costs (655)   (4,662)
Distribution to noncontrolling interest     (1,391)
Net cash flows from financing activities (251,076) 44,640 66,275
Effect of exchange rate fluctuations on cash (4,873) (7,735) (4,176)
Net increase (decrease) in cash and cash equivalents (26,486) 24,938 (17,758)
Cash and cash equivalents, beginning of period 102,239 77,301 95,059
Cash and cash equivalents, end of period 75,753 102,239 77,301
Supplemental cash flow information      
Income taxes paid, net 19,081 24,036 23,082
Interest paid $ 35,053 $ 35,183 $ 33,269