Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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 (loss) $ 377 $ 16,650 $ (9,218)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 67,146 54,834 45,891
Amortization of debt discount and issuance costs 7,296 443 271
Deferred taxes 13,791 8,386 (5,219)
Stock-based expense 45,835 36,852 38,122
Excess tax benefit from stock-based compensation 0 (5,998) (357)
Impairment of identified intangible assets 0 750 20,801
Loss on disposal and impairment of other long-lived assets 524 497 3,070
Acquisition-related consideration 684 (877) (3,268)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (18,702) (12,239) (8,701)
Prepaid expenses and other current assets 945 20,973 1,391
Other assets (717) (187) (814)
Accounts payable 268 652 (806)
Accrued compensation, taxes, and benefits 3,438 5,220 3,888
Deferred revenue 17,114 4,452 10,791
Other current and long-term liabilities (672) 5,808 170
Net cash provided by operating activities 137,327 136,216 96,012
Cash flows from investing activities:      
Purchases of property, equipment, and software (49,752) (75,241) (33,384)
Proceeds from disposal of property, equipment, and software 0 4,500 305
Acquisition of businesses, net of cash acquired (659,322) (71,400) (45,282)
Purchase of cost method investments (200) (3,000) 0
Net cash used in investing activities (709,274) (145,141) (78,361)
Cash flows from financing activities:      
Proceeds from term loans 199,400 124,688 0
Payments on term loans (3,551) (2,345) 0
Proceeds from revolving facility 50,000 0 51,500
Payments on revolving facility 0 (40,000) (31,500)
Proceeds from borrowings on convertible senior notes 345,000 0 0
Purchase of convertible senior note hedges (62,549) 0 0
Proceeds from issuance of warrants 31,499 0 0
Deferred financing costs (10,734) (392) (8)
Payments on capital lease obligations (335) (548) (574)
Payments of acquisition-related consideration (8,491) (5,684) (3,685)
Issuance of common stock 27,014 28,490 12,115
Excess tax benefit from stock-based compensation 0 5,998 357
Purchase of treasury stock related to stock-based compensation (30,904) (6,020) (6,461)
Purchase of treasury stock under share repurchase program 0 (21,244) (35,083)
Net cash provided by (used in) financing activities 536,349 82,943 (13,339)
Net (decrease) increase in cash and cash equivalents (35,598) 74,018 4,312
Effect of exchange rate on cash 55 (43) (337)
Cash and cash equivalents:      
Beginning of period 104,886 30,911 26,936
End of period 69,343 104,886 30,911
Supplemental cash flow information:      
Cash paid for interest 6,754 2,833 1,086
Cash paid for income taxes, net of refunds 1,855 1,961 693
Non-cash investing activities:      
Accrued property, equipment, and software $ 5,777 $ 3,993 $ 3,424