v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 34,725 $ 377 $ 16,650
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 100,186 67,146 54,834
Amortization of debt discount and issuance costs 12,464 7,296 443
Deferred taxes (2,179) 13,791 8,386
Stock-based expense 50,641 45,835 36,852
Excess tax benefit from stock-based compensation 0 0 (5,998)
Loss on disposal and impairment of long-lived assets 6,733 524 1,247
Acquisition-related consideration 284 684 (877)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (717) (18,821) (12,239)
Prepaid expenses and other current assets (11,894) 945 21,040
Other assets (4,543) (717) (187)
Accounts payable 1,266 268 652
Accrued compensation, taxes, and benefits 3,288 3,438 5,220
Deferred revenue 3,478 17,114 4,452
Customer deposits 57,230 3,055 (6,834)
Other current and long-term liabilities (6,155) (672) 5,808
Net cash provided by operating activities 244,807 140,263 129,449
Cash flows from investing activities:      
Purchases of property, equipment, and software (50,933) (49,752) (75,241)
Proceeds from disposal of property, equipment, and software 0 0 4,500
Acquisition of businesses, net of cash and restricted cash acquired (278,563) (649,910) (66,440)
Purchase of other investments (1,800) (200) (3,000)
Net cash used in investing activities (331,296) (699,862) (140,181)
Cash flows from financing activities:      
Proceeds from term loans 0 199,400 124,688
Payments on term loans (14,116) (3,551) (2,345)
Proceeds from revolving credit facility 140,000 50,000 0
Payments on revolving credit facility (190,000) 0 (40,000)
Proceeds from borrowings on convertible notes 0 345,000 0
Purchase of convertible senior note hedges 0 (62,549) 0
Proceeds from issuance of warrants 0 31,499 0
Payments of deferred financing costs (1,136) (10,734) (392)
Payments on capital lease obligations (227) (335) (548)
Payments of acquisition-related consideration (28,388) (8,491) (5,684)
Proceeds from public offering, net of underwriters’ discount and offering costs 441,901 0 0
Proceeds from exercise of stock options 13,163 27,014 28,490
Excess tax benefit from stock-based compensation 0 0 5,998
Purchase of treasury stock related to stock-based compensation (29,030) (30,904) (6,020)
Purchase of treasury stock under share repurchase program (28,082) 0 (21,244)
Net cash provided by financing activities 304,085 536,349 82,943
Net increase (decrease) in cash and cash equivalents 217,596 (23,250) 72,211
Effect of exchange rate on cash (183) 55 (43)
Cash, cash equivalents and restricted cash:      
Beginning of period 165,345 188,540 116,372
End of period 382,758 165,345 188,540
Supplemental cash flow information:      
Cash paid for interest 18,204 6,754 2,833
Cash paid for income taxes, net of refunds 3,121 1,855 693
Non-cash investing and financing activities:      
Fair value of stock consideration in connection with our acquisitions 53,334 0 0
Redemption of noncontrolling interest in connection with acquisition of ClickPay 21,816 0 0
Accrued property, equipment, and software 1,447 5,777 3,993
Reconciliation of Cash, Cash Equivalents, and Restricted Cash      
Cash and cash equivalents 228,159 69,343 104,886
Restricted cash 154,599 96,002 83,654
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $ 165,345 $ 188,540 $ 116,372

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