Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2012
Cash flows from operating activities:      
Net (loss) income $ (9,218) $ (10,274) $ 20,692
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 45,891 41,306 31,745
Deferred tax benefit (5,219) (7,891) (2,503)
Stock-based compensation 38,122 37,050 29,697
Excess tax benefit from stock options (357) (2,248) 0
Impairment of identified intangible assets 20,801   0
Loss on disposal and impairment of other long-lived assets 3,070 386 314
Acquisition-related consideration (3,268) 173 1,284
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:      
Accounts receivable (8,701) 1,929 (13,669)
Prepaid expenses and other current assets 1,391 (2,363) (341)
Other assets (543) (592) (330)
Accounts payable (806) 1,821 1,765
Accrued compensation, taxes and benefits 3,888 1,964 (1,259)
Deferred revenue 10,791 8,443 969
Other current and long-term liabilities 170 268 845
Net cash provided by operating activities 96,012 69,972 69,209
Cash flows from investing activities:      
Purchases of property, equipment, and software (33,384) (37,062) (32,952)
Proceeds from disposal of property, equipment, and software 305 0 0
Acquisition of businesses, net of cash acquired (45,282) (41,947) (28,229)
Intangible asset additions 0 (260) (927)
Net cash used in investing activities (78,361) (79,269) (62,108)
Cash flows from financing activities:      
Proceeds from revolving credit facility 51,500 68,572 0
Payments on revolving credit facility (31,500) (48,572) (10,000)
Deferred financing costs (8) (1,188) 0
Payments on capital lease obligations (574) (562) (548)
Payments of acquisition-related consideration (3,685) (6,419) (1,549)
Issuance of common stock 12,115 9,914 10,608
Excess tax benefit from stock options 357 2,248 0
Purchase of treasury stock (41,544) (22,215) (4,860)
Net cash (used in) provided by financing activities (13,339) 1,778 (6,349)
Net increase (decrease) in cash and cash equivalents 4,312 (7,519) 752
Effect of exchange rate on cash (337) (47) (54)
Cash and cash equivalents:      
Beginning of period 26,936 34,502  
End of period 30,911 26,936 33,804
Supplemental cash flow information:      
Cash paid for interest 1,086 814 974
Cash paid for income taxes, net of refunds 693 512 525
Non-cash investing activities:      
Accrued property, equipment, and software 3,424 607 779
Non-cash financing activities:      
Software acquired under capital lease $ 0 $ 0 $ 1,976