XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (39,018) $ 28,832
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation 13,091 11,008
Amortization 49,884 52,721
Amortization of operating lease right-of-use assets 6,491 5,489
Amortization of deferred debt issuance costs 2,492 2,299
Deferred income taxes (22,641) (6,385)
Stock-based compensation expense 10,715 14,758
Other 311 1,124
Changes in operating assets and liabilities:    
Receivables 81,856 (14,040)
Accounts payable (1,954) (1,319)
Accrued employee compensation (4,628) (10,201)
Deferred revenue 12,700 5,532
Other current and noncurrent assets and liabilities (51,791) (22,055)
Net cash flows from operating activities 57,508 67,763
Cash flows from investing activities:    
Purchases of property and equipment (4,576) (3,657)
Purchases of software and distribution rights (15,021) (10,738)
Net cash flows from investing activities (19,597) (14,395)
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,426 1,962
Proceeds from exercises of stock options 2,869 1,397
Repurchase of stock-based compensation awards for tax withholdings (3,320) (5,802)
Repurchases of common stock 0 (62,707)
Proceeds from revolving credit facility 55,000 60,000
Repayment of revolving credit facility (45,000) (20,000)
Repayment of term portion of credit agreement (34,081) (21,219)
Payments on or proceeds from other debt, net (11,830) (9,369)
Payments for debt issuance costs (2,160) 0
Net decrease in settlement assets and liabilities (24,087) (4,575)
Net cash flows from financing activities (61,183) (60,313)
Effect of exchange rate fluctuations on cash 5,427 (1,062)
Net decrease in cash and cash equivalents (17,845) (8,007)
Cash and cash equivalents, including settlement deposits, beginning of period 214,672 184,142
Cash and cash equivalents, including settlement deposits, end of period 196,827 176,135
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 132,391 118,953
Settlement deposits 64,436 57,182
Total cash and cash equivalents, including settlement deposits 196,827 176,135
Supplemental cash flow information    
Income taxes paid 33,907 18,467
Interest paid $ 36,102 $ 20,296