v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 11,272 $ 10,901
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,824 23,260
Amortization of debt discount and issuance costs 3,234 3,012
Amortization of right-of-use assets 3,005  
Deferred taxes 2,550 (1,154)
Stock-based expense 14,913 10,318
Loss on disposal and impairment of other long-lived assets 286 942
Change in fair value of equity investment (2,600) 0
Acquisition-related consideration 405 402
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Accounts receivable (983) 15,648
Prepaid expenses and other current assets 3,197 (3,738)
Other assets 185 (1,015)
Accounts payable 4,001 6,943
Accrued compensation, taxes, and benefits (10,603) (7,391)
Deferred revenue 90 (3,031)
Customer deposits (50,252) 16,277
Other current and long-term liabilities (2,532) (603)
Net cash provided by operating activities 3,992 70,771
Cash flows from investing activities:    
Purchases of property, equipment, and software (10,873) (12,660)
Purchase of other investment 0 (1,800)
Net cash used in investing activities (10,873) (14,460)
Cash flows from financing activities:    
Payments on term loans (4,033) (2,016)
Payments of deferred financing costs 0 (1,087)
Payments on finance lease obligations (769)  
Payments on finance lease obligations   (114)
Payments of acquisition-related consideration (11,412) (776)
Proceeds from exercise of stock options 1,877 5,038
Purchase of treasury stock related to stock-based compensation (5,016) (8,450)
Net cash used in financing activities (19,353) (7,405)
Net (decrease) increase in cash, cash equivalents and restricted cash (26,234) 48,906
Effect of exchange rate on cash (99) (127)
Cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at beginning of period 382,758 165,345
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash flows 356,425 214,124
Supplemental cash flow information:    
Cash paid for interest 1,378 2,886
Cash paid (received) for income taxes, net 138 (71)
Non-cash investing activities:    
Accrued property, equipment, and software 1,805 675
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 252,657  
Restricted cash 103,768  
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash flows $ 356,425 $ 214,124

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