XML 23 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 5,135 $ 129,535 [1] $ 85,436
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation 24,871 22,584 21,656
Amortization 77,353 80,870 75,775
Amortization of deferred debt issuance costs 4,286 5,567 6,244
Deferred income taxes 21,660 17,702 19,328
Stock-based compensation expense 13,683 43,613 18,380
Gain on sale of available-for-sale equity securities     (24,465)
Gain on sale of CFS assets   (151,463)  
Other 435 806 2,725
Changes in operating assets and liabilities, net of impact of acquisitions:      
Receivables (8,243) (76,460) (11,355)
Accounts payable (1,700) (13,920) 8,557
Accrued employee compensation 94 18,060 (1,998)
Current income taxes (4,227) 14,510 (8,244)
Deferred revenue 439 3,015 (4,513)
Other current and noncurrent assets and liabilities 12,411 5,411 468
Net cash flows from operating activities 146,197 99,830 187,994
Cash flows from investing activities:      
Purchases of property and equipment (25,717) (40,812) (27,283)
Purchases of software and distribution rights (28,697) (22,268) (21,622)
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)
Other   (7,000) (7,000)
Net cash flows from investing activities (54,414) 129,633 (199,961)
Cash flows from financing activities:      
Proceeds from issuance of common stock 2,958 2,987 3,104
Proceeds from exercises of stock options 13,872 9,325 12,175
Repurchases of common stock (37,387) (60,089)  
Repurchase of restricted stock and performance shares for tax withholdings (5,311) (2,975) (4,649)
Proceeds from revolving credit facility 67,000 76,000 298,000
Proceeds from term portion of credit agreement 415,000    
Repayments of revolving credit facility (153,000) (166,000) (164,000)
Repayments of term portion of credit agreement (386,040) (95,293) (87,352)
Payments on other debt and capital leases (9,900) (14,376) (12,638)
Payment for debt issuance costs (5,340) (655)  
Net cash flows from financing activities (98,148) (251,076) 44,640
Effect of exchange rate fluctuations on cash 322 (4,873) (7,735)
Net increase (decrease) in cash and cash equivalents (6,043) (26,486) 24,938
Cash and cash equivalents, beginning of period 75,753 102,239 77,301
Cash and cash equivalents, end of period 69,710 75,753 102,239
Supplemental cash flow information      
Income taxes paid, net 37,817 19,081 24,036
Interest paid $ 34,976 $ 35,053 $ 35,183
[1] The Company adopted ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting, ("ASU 2016-09") during the year ended December 31, 2016. The Company elected to early adopt ASU 2016-09 in the third quarter of 2016, which requires it to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. The impact of the adoption to the Company's previously reported quarterly results for the quarters ended March 31 and June 30, 2016 are reflected in the table above.