XML 136 R114.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statement of Cash Flows (Statement) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 74,589 $ 66,845
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,836 23,334
Provision for accounts receivable allowance (541) 2,109
Deferred income taxes 7,853 833
Deferred compensation plan activity 2,487 2,968
Stock-based compensation expense 23,617 6,046
Amortization of deferred debt issuance costs 430 415
Change in fair value of derivative 3,365 159
Change in fair value of contingent consideration (1,340) 62
Foreign currency remeasurement (gain) loss (9,067) 13,956
Loss from investment accounted for using the equity method, net of tax 1,447 0
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 46,661 40,847
Prepaid and other assets 8,907 (6,505)
Accounts payable, accruals and other liabilities 31,486 18,545
Deferred revenues (35,134) (39,655)
Income taxes payable (4,571) (11,710)
Net cash provided by operating activities 176,025 118,249
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (12,805) (11,622)
Capitalization of costs to translate software products into foreign languages (728) (553)
Acquisitions, net of cash acquired of $2,064 and $980, respectively (68,920) (9,662)
Other investing activities (6,355) 0
Net cash used in investing activities (88,808) (21,837)
Cash flows from financing activities:    
Proceeds from credit facilities 432,375 136,750
Payments of credit facilities (201,125) (147,500)
Proceeds from term loan 125,000 0
Payments of debt issuance costs (432) 0
Payments of financing leases (141) 0
Payments of acquisition debt and other consideration (2,034) (9,878)
Payments of dividends (412,852) (18,830)
Payments for shares acquired including shares withheld for taxes (72,476) (18,417)
Proceeds from Common Stock Purchase Agreement 58,349 4,510
Net proceeds from exercise of common stock options and restricted stock 3,206 3,039
Net cash used in financing activities (70,130) (50,326)
Effect of exchange rate changes on cash and cash equivalents (590) (1,272)
Increase in cash and cash equivalents 16,497 44,814
Cash and cash equivalents, beginning of year 121,101 81,183
Cash and cash equivalents, end of period 137,598 125,997
Supplemental information:    
Cash paid for income taxes 17,338 24,453
Income tax refunds 1,630 1,126
Interest paid 4,658 7,214
Non-cash contingent acquisition consideration 1,902 50
Non-cash deferred acquisition consideration $ (141) $ 0