Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 28,453 $ 21,242
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 74,018 45,814
Amortization of debt discount and issuance costs 9,272 4,340
Deferred taxes (2,720) (10,811)
Stock-based expense 37,492 35,732
Loss on disposal and impairment of other long-lived assets 3,439 472
Acquisition-related consideration 806 382
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Accounts receivable 6,933 773
Prepaid expenses and other current assets (15,778) (1,950)
Other assets (2,757) (106)
Accounts payable 4,044 3,702
Accrued compensation, taxes, and benefits 2,574 1,173
Deferred revenue (5,193) 4,783
Customer deposits (6,361) (710)
Other current and long-term liabilities 740 1,047
Net cash provided by operating activities 134,962 105,883
Cash flows from investing activities:    
Purchases of property, equipment, and software (37,287) (38,576)
Acquisition of businesses, net of cash and restricted cash acquired (230,474) (347,550)
Purchase of other investment (1,800) 0
Net cash used in investing activities (269,561) (386,126)
Cash flows from financing activities:    
Payments on term loans (10,083) (1,533)
Proceeds from revolving credit facility 140,000 0
Payments on revolving line of credit (190,000) 0
Proceeds from borrowings on convertible notes 0 345,000
Purchase of convertible note hedges 0 (62,549)
Proceeds from issuance of warrants 0 31,499
Payments of deferred financing costs (1,135) (11,026)
Payments on capital lease obligations (219) (232)
Payments of acquisition-related consideration (28,110) (8,073)
Proceeds from public offering, net of underwriters’ discount and offering costs 441,794 0
Proceeds from exercise of stock options 9,953 21,614
Purchase of treasury stock related to stock-based compensation (22,122) (21,189)
Net cash provided by financing activities 340,078 293,511
Net increase in cash, cash equivalents and restricted cash 205,479 13,268
Effect of exchange rate on cash (33) 86
Cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash at beginning of period 165,345 188,540
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash flows 370,791 201,894
Supplemental cash flow information:    
Cash paid for interest 12,274 2,757
Cash paid for income taxes, net of refunds 2,546 1,705
Non-cash investing and financing activities:    
Fair value of stock consideration in connection with our acquisitions 53,334 0
Redemption of noncontrolling interest in connection with acquisition of ClickPay 21,816 0
Accrued property, equipment, and software 1,837 3,242
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 279,872  
Restricted cash 90,919  
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash flows $ 370,791 $ 201,894