Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 14,408 $ 5,079
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29,533 26,822
Amortization of debt discount and issuance costs 1,424 205
Deferred taxes (3,088) 2,320
Stock-based expense 23,968 19,128
Loss on disposal and impairment of other long-lived assets 87 85
Acquisition-related consideration 1,024 (251)
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Accounts receivable 6,631 1,251
Prepaid expenses and other current assets (1,369) 2,656
Other assets (464) (243)
Accounts payable 4,066 62
Accrued compensation, taxes, and benefits (759) 1,828
Deferred revenue 3,607 (1,229)
Other current and long-term liabilities 1,396 2,888
Net cash provided by operating activities 80,464 60,601
Cash flows from investing activities:    
Purchases of property, equipment, and software (27,129) (38,486)
Acquisition of businesses, net of cash acquired (130,878) (71,305)
Net cash used in investing activities (158,007) (109,791)
Cash flows from financing activities:    
Proceeds from term loan 0 124,688
Payments on term loan (767) (781)
Payments on revolving line of credit 0 (40,000)
Proceeds from borrowings on convertible notes 345,000 0
Purchase of convertible note hedges (62,549) 0
Proceeds from issuance of warrants 31,499 0
Deferred financing costs (10,755) (392)
Payments on capital lease obligations (136) (426)
Payments of acquisition-related consideration (7,185) (2,736)
Issuance of common stock 13,151 8,008
Purchase of treasury stock related to stock-based compensation (11,008) (2,179)
Purchase of treasury stock under share repurchase program 0 (21,244)
Net cash provided by financing activities 297,250 64,938
Net increase in cash and cash equivalents 219,707 15,748
Effect of exchange rate on cash (2) 29
Cash and cash equivalents:    
Beginning of period 104,886 30,911
End of period 324,591 46,688
Supplemental cash flow information:    
Cash paid for interest 1,976 1,747
Cash paid for income taxes, net of refunds 1,157 1,200
Non-cash investing activities:    
Accrued property, equipment, and software $ 951 $ 8,927