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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 57,006 $ 29,669
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,993 8,050
Bad debt allowance (recovery) 746 (256)
Deferred income taxes 966 1,742
Deferred compensation plan activity 1,021 676
Stock-based compensation expense 8,913 1,653
Amortization and write-off of deferred debt issuance costs 1,229 138
Change in fair value of derivative (13,661) 0
Change in fair value of contingent consideration 0 (1,390)
Foreign currency remeasurement (gain) loss (583) 6,985
Loss from investment accounted for using the equity method, net of tax 446 338
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 14,903 38,273
Prepaid and other assets 8,257 5,653
Accounts payable, accruals and other liabilities 54,977 6,778
Deferred revenues (21,889) (28,247)
Income taxes payable 11,474 2,550
Net cash provided by operating activities 132,798 72,612
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (2,655) (4,500)
Acquisitions, net of cash acquired of $1,326 and $1,986, respectively (57,975) (39,329)
Other investing activities 0 (1,414)
Net cash used in investing activities (60,630) (45,243)
Cash flows from financing activities:    
Proceeds from credit facilities 16,000 58,907
Payments of credit facilities (262,000) (133,625)
Proceeds from convertible senior notes, net of discounts and commissions 672,750 0
Payments of debt issuance costs (3,777) 0
Purchase of capped call options (25,530) 0
Payments of financing leases (50) (47)
Payments of acquisition debt and other consideration (25) (127)
Payments of dividends (8,219) (7,802)
Payments for shares acquired including shares withheld for taxes (18,763) (3,918)
Proceeds from exercise of stock options 1,751 724
Net cash provided by (used in) financing activities 372,137 (85,888)
Effect of exchange rate changes on cash and cash equivalents 3,225 (2,293)
Increase (decrease) in cash and cash equivalents 447,530 (60,812)
Cash and cash equivalents, beginning of year 122,006 121,101
Cash and cash equivalents, end of period 569,536 60,289
Supplemental information:    
Cash paid for income taxes 4,214 4,181
Income tax refunds 4,519 117
Interest paid 766 1,842
Contingent acquisition consideration 549 0
Deferred, non-contingent consideration, net 1,718 0
Convertible senior notes expenses included in Accounts payable and Accruals and other current liabilities 605 0
Capped call options expenses included in Accounts payable 150 0
Share-settled Executive Bonus Plan awards 5,574 0
Voluntary deferred compensation plan contributions $ 855 $ 1,003