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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 36,976 $ 47,550  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 21,100 19,985  
Share-based compensation expense 25,724 17,302  
Operating lease right-of-use assets expense 1,546 1,457  
Deferred income tax benefit (3,267) (2,668)  
Changes in operating assets and liabilities, exclusive of effects of    acquired companies:      
Accounts receivable 49,317 56,982  
Income tax receivable 4,533 (10,175)  
Prepaid expenses and other current assets (9,261) (11,186)  
Accounts payable (2,292) (2,020)  
Operating lease liabilities (1,639) (1,743)  
Accrued liabilities (8,965) (12,210)  
Deferred revenue (42,069) (46,568)  
Net cash provided by operating activities 71,703 56,706  
Cash flows from investing activities:      
Additions to property and equipment (6,564) (9,349)  
Purchase of marketable security investments (52,755) (27,271)  
Proceeds from marketable security investments 35,031 18,237  
Purchase of investment in common shares 0 (10,000)  
Proceeds from the sale of investment in preferred shares 0 15,000  
Investment in software (3,476) (1,315)  
Cost of acquisitions, net of cash acquired (12,049) (261)  
Decrease (increase) in other 119 (48)  
Net cash used by investing activities (39,694) (15,007)  
Cash flows from financing activities:      
Increase in net borrowings on revolving line of credit 0 0  
Proceeds from Convertible Debt 600,000 0  
Payment of debt issuance costs (6,020) 0  
Purchase of treasury shares 0 (15,482)  
Payment of contingent consideration 0 (5,619)  
Proceeds from exercise of stock options 18,102 46,236  
Contributions from employee stock purchase plan 3,038 2,469  
Net cash provided by financing activities 615,120 27,604  
Net increase in cash and cash equivalents 647,129 69,303  
Cash and cash equivalents at beginning of period 603,623 232,682 $ 232,682
Cash and cash equivalents at end of period $ 1,250,752 $ 301,985 $ 603,623