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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 88,132 $ 59,446
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,781 46,915
Amortization of operating lease assets 38,105 0
Deferred income tax provision 1,772 5,683
Impairment, closure costs, and asset disposals 4,085 4,859
Bad debt allowance 206 0
Stock-based compensation expense 19,154 12,097
Other (1,269) (320)
Changes in operating assets and liabilities:    
Accounts receivable 15,946 13,767
Inventory 2,781 2,451
Prepaid expenses and other current assets (3,712) (4,793)
Other assets 242 3,855
Accounts payable (4,256) 17,242
Accrued payroll and benefits 5,853 27,700
Accrued liabilities (4,773) 6,407
Unearned revenue (13,386) (15,276)
Income tax payable/receivable 16,054 18,012
Deferred rent 0 5,420
Operating lease liabilities (36,492) 0
Other long-term liabilities 358 (2,349)
Net cash provided by operating activities 182,581 201,116
Investing activities    
Purchases of leasehold improvements, property and equipment (64,226) (57,524)
Purchases of investments (89,111) (168,749)
Maturities of investments 60,000 145,000
Net cash used in investing activities (93,337) (81,273)
Financing activities    
Acquisition of treasury stock (52,886) (68,638)
Tax withholding on share-based compensation awards (10,368) (3,988)
Stock plan transactions and other financing activities (277) (22)
Net cash used in financing activities (63,531) (72,648)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 178 (24)
Net change in cash, cash equivalents, and restricted cash 25,891 47,171
Cash, cash equivalents and restricted cash at beginning of period 280,152 214,170
Cash, cash equivalents and restricted cash at end of period $ 306,043 $ 261,341