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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net (loss) income $ (61,373) $ (90,433) $ 10,617
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities      
Stock-based compensation 103,068 80,909 63,862
(Gain) loss on capped call transactions (31,697) 0 0
Deferred income taxes (59,777) (49,317) (30,898)
Amortization of deferred commissions 33,302 29,152 17,271
Lease expense 16,248 14,497  
Amortization of debt discount and issuance costs 14,813 0 0
Amortization of intangible assets and depreciation 21,348 21,396 25,295
Amortization of investments 1,073 800 1,596
Foreign currency transaction (gain) loss (3,704) 2,335 (2,421)
Other non-cash (879) (521) (1,678)
Change in operating assets and liabilities:      
Accounts receivable, unbilled receivables, and contract assets (32,321) 1,088 25,779
Other current assets (12,959) (6,344) (6,068)
Accounts payable, accrued compensation, and accrued expenses 37,945 25,670 20,798
Deferred revenue 43,661 1,937 28,951
Deferred commissions (55,175) (49,746) (44,036)
Other long-term assets and liabilities (14,136) (23,588) (4,712)
Cash (used in) provided by operating activities (563) (42,165) 104,356
Investing activities      
Purchases of investments (326,549) (11,424) (69,494)
Proceeds from maturities and called investments 28,811 13,634 33,991
Sales of investments 1,424 89,406 0
Payments for acquisitions, net of cash acquired 0 (10,934) (800)
Investment in property and equipment (25,369) (10,608) (11,893)
Cash (used in) provided by investing activities (321,683) 70,074 (48,196)
Financing activities      
Proceeds from issuance of convertible senior notes 600,000 0 0
Purchase of capped calls related to convertible senior notes (51,900) 0 0
Payment of debt issuance costs (14,527) 0 0
Dividend payments to stockholders (9,628) (9,486) (9,432)
Proceeds from revolving credit facility 0 45,000 0
Payments on revolving credit facility 0 (45,000) 0
Common stock repurchases for tax withholdings for net settlement of equity awards (72,523) (42,637) (37,594)
Common stock repurchases under stock repurchase program (27,974) (22,135) (54,434)
Cash provided by (used in) financing activities 423,448 (74,258) (101,460)
Effect of exchange rate changes on cash and cash equivalents 2,334 290 (2,557)
Net increase (decrease) in cash and cash equivalents 103,536 (46,059) (47,857)
Cash and cash equivalents, beginning of period 68,363 114,422 162,279
Cash and cash equivalents, end of period 171,899 68,363 114,422
Supplemental disclosures      
Interest paid on convertible notes 2,338 0 0
Income taxes paid 3,377 4,745 6,630
Non-cash investing and financing activity:      
Dividends payable $ 2,427 $ 2,388 $ 2,363