XML 46 R5.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows
$ in Thousands
 6 Months Ended
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Cash flows from operating activities    
Net income $ 6,567 $ 16,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,742 46,088
Provision for doubtful accounts and sales returns 4,418 6,677
Stock-based compensation expense 60,554 33,713
Deferred taxes 276 1,945
Amortization of deferred financing costs and discount 879 376
Other non-cash adjustments 155 477
Changes in operating assets and liabilities, net of acquisition and disposal of businesses:    
Accounts receivable (27,134) (48,167)
Prepaid expenses and other assets (18,162) (7,068)
Trade accounts payable 2,356 (8,984)
Accrued expenses and other liabilities 1,443 (26,520)
Deferred revenue 27,828 22,489
Net cash provided by operating activities 99,922 37,488
Cash flows from investing activities    
Purchase of property and equipment (6,128) (5,887)
Capitalized software development costs (19,862) (21,679)
Net cash used in investing activities (25,990) (27,566)
Cash flows from financing activities    
Proceeds from issuance of debt 128,300 202,100
Payments on debt (113,477) (185,250)
Employee taxes paid for withheld shares upon equity award settlement (38,712) (20,996)
Proceeds from exercise of stock options 0 4
Change in due to customers (170,061) (121,612)
Change in customer funds receivable (5,014) (828)
Purchase of treasury stock (58,074) 0
Dividend payments to stockholders 0 (5,960)
Net cash used in financing activities (257,038) (132,542)
Effect of exchange rate on cash, cash equivalents and restricted cash 992 (2,229)
Net decrease in cash, cash equivalents and restricted cash (182,114) (124,849)
Cash, cash equivalents and restricted cash, beginning of period 644,969 577,295
Cash, cash equivalents and restricted cash, end of period 462,855 $ 452,446
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 28,288  
Total restricted cash 434,567  
Total cash, cash equivalents and restricted cash in the statement of cash flows $ 462,855