Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
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 (loss) $ 16,650 $ (9,218) $ (10,274)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 54,834 45,891 41,306
Deferred taxes 8,386 (5,219) (7,891)
Stock-based expense 36,852 38,122 37,050
Excess tax benefit from stock-based compensation (5,998) (357) (2,248)
Impairment of identified intangible assets 750 20,801 0
Loss on disposal and impairment of other long-lived assets 497 3,070 386
Acquisition-related consideration (877) (3,268) 173
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (12,239) (8,701) 1,929
Prepaid expenses and other current assets 20,973 1,391 (2,363)
Other assets 83 (543) (592)
Accounts payable 652 (806) 1,821
Accrued compensation, taxes, and benefits 5,220 3,888 1,964
Deferred revenue 4,452 10,791 8,443
Other current and long-term liabilities 5,981 170 268
Net cash provided by operating activities 136,216 96,012 69,972
Cash flows from investing activities:      
Purchases of property, equipment, and software (75,241) (33,384) (37,062)
Proceeds from disposal of property, equipment, and software 4,500 305 0
Acquisition of businesses, net of cash acquired (71,400) (45,282) (41,947)
Intangible asset additions 0 0 (260)
Purchase of cost method investment (3,000) 0 0
Net cash used in investing activities (145,141) (78,361) (79,269)
Cash flows from financing activities:      
Proceeds from term loan 124,688 0 0
Payments on term loan (2,345) 0 0
Proceeds from revolving facility 0 51,500 68,572
Payments on revolving facility (40,000) (31,500) (48,572)
Deferred financing costs (392) (8) (1,188)
Payments on capital lease obligations (548) (574) (562)
Payments of acquisition-related consideration (5,684) (3,685) (6,419)
Issuance of common stock 28,490 12,115 9,914
Excess tax benefit from stock-based compensation 5,998 357 2,248
Purchase of treasury stock related to stock-based compensation (6,020) (6,461) (6,694)
Purchase of treasury stock under share repurchase program (21,244) (35,083) (15,521)
Net cash provided by (used in) financing activities 82,943 (13,339) 1,778
Net increase (decrease) in cash and cash equivalents 74,018 4,312 (7,519)
Effect of exchange rate on cash (43) (337) (47)
Cash and cash equivalents:      
Beginning of period 30,911 26,936 34,502
End of period 104,886 30,911 26,936
Supplemental cash flow information:      
Cash paid for interest 2,833 1,086 814
Cash paid for income taxes, net of refunds 1,961 693 512
Non-cash investing activities:      
Accrued property, equipment, and software $ 3,993 $ 3,424 $ 607