XML 30 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ 103,096 $ 142,112
Net income 103,096 142,112
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,160 29,200
Provision for accounts receivable allowance 862 2,393
Deferred income taxes 732 (60,060)
Bonus plan compensation expense 3,994 4,323
Stock-based compensation expense 8,091 7,882
Amortization of deferred debt issuance costs 553 552
Decrease in fair value of call options 159 487
Reclassifications to noncontingent consideration from acquisitions 62 272
Foreign currency remeasurement loss (gain) 5,311 (1,645)
Equity in loss of joint venture, net of tax 1,275  
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable, net (21,152) (41,787)
Prepaid and other assets (668) 2,831
Accounts payable, accruals and other liabilities 41,880 37,249
Increase in contract with customer, liability (268) 21,247
Income taxes payable (5,314) 16,409
Net cash provided by operating activities 170,773 161,465
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (15,804) (18,616)
Capitalization of costs to translate software products into foreign languages (835) (877)
Acquisitions, net of cash acquired of $7,774 and $2,523, respectively (34,054) (135,264)
Investment in joint venture (3,000)  
Net cash used in investing activities (53,693) (154,757)
Cash flows from financing activities:    
Proceeds from credit facilities 191,250 148,250
Payments of credit facilities (216,250) (159,500)
Payments of acquisition debt and other consideration (11,029) (9)
Payments of dividends (24,989) (20,059)
Payments for shares acquired including shares withheld for taxes (24,166) (46,451)
Proceeds from Common Stock Purchase Agreement 4,510 16,220
Net proceeds from exercise of common stock options and restricted stock 3,626 2,732
Net cash used in financing activities (77,048) (58,799)
Effect of exchange rate changes on cash and cash equivalents (114) (1,193)
Increase in cash and cash equivalents 39,918 (53,284)
Cash and cash equivalents, beginning of year 81,183 134,467
Cash and cash equivalents, end of period 121,101 81,183
Supplemental information:    
Cash paid for income taxes 27,907 25,782
Income tax refunds 1,752 7,285
Interest paid 9,221 8,863
Non-cash contingent acquisition consideration $ 4,498 13,456
Non-cash deferred acquisition consideration   $ 690