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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 105,664 $ 34,189 $ (65,468)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 13,982 20,950 23,060
Stock-based compensation 36,902 26,399 13,779
Provision (reversal) for allowance for doubtful accounts 7,787 (368) 2,138
Deferred income tax expense (benefits) (4,630) (977) 866
Loss from equity method investments 130 6 5
Gain on sale of investments (328) (608) (481)
Investment related impairment 40,161 8,005 2,521
Change in fair value of investor option liability     46,972
Loss on disposal of property and equipment 191 184  
Changes in assets and liabilities, net of acquisition:      
Accounts receivable due from third parties (33,109) 4,988 (14,938)
Prepaid expenses and other current assets (19,527) 470 (12,283)
Other assets 1,134 713 (23)
Accounts payable 8,915 16,099 12,809
Accrued and other liabilities 68,102 46,271 22,356
Deferred revenues 9,492 17,753 5,799
Net cash provided by (used in) operating activities 236,244 181,971 (19,412)
Cash flows from investing activities:      
Purchases of short-term investments (314,363) (149,374) (230,161)
Maturities of short-term investments 373,805 216,615 321,208
Investment and prepayment in long-term investments (155,122) (268,758) (54,383)
Proceeds from disposal/refund of long-term investments 12,188 6,090 1,644
Purchases of property and equipment (13,253) (10,858) (14,743)
Cash paid for business acquisition, net of cash acquired   (22,025) (9,648)
Net cash provided by (used in) investing activities (96,745) (228,310) 13,917
Cash flows from financing activities:      
Proceeds from IPO, net of commission     306,491
Payment of offering expenses     (5,213)
Proceeds from employee options exercised 4,183 7,822 1,508
Payment for ordinary shares and repurchase of vested options     (6,873)
Proceeds from sales of non-controlling interests in subsidiaries     968
Repayment of amount due to SINA   (2,863) (269,042)
Payments to non-controlling shareholders (1,148)    
Net cash provided by financing activities 3,035 4,959 43,663
Effect of exchange rate changes on cash and cash equivalents (15,208) (6,045) (2,402)
Net increase (decrease) in cash and cash equivalents 127,326 (47,425) 35,766
Cash and cash equivalents at the beginning of the year 237,440 284,865 249,099
Cash and cash equivalents at the end of the year 364,766 237,440 284,865
Supplemental disclosure of cash flow information      
Cash paid for interest     (7,580)
Cash paid for income tax (3,386) (311)  
Supplemental schedule of non-cash investing and financing activities      
Conversion of preferred shares to ordinary shares     479,612
Property and equipment in accounts payable 2,158 2,532 2,420
Alibaba      
Changes in assets and liabilities, net of acquisition:      
Accounts receivable due from Alibaba 29,759 10,673 (43,426)
Supplemental schedule of non-cash investing and financing activities      
Deemed contribution from Alibaba     15,300
Other related parties      
Changes in assets and liabilities, net of acquisition:      
Accounts receivable due from other related parties 2,372 (15,313) (16,589)
SINA      
Changes in assets and liabilities, net of acquisition:      
Amount due to (from) SINA $ (30,753) 12,537 8,233
Interest on amount due to SINA     (4,742)
Cash flows from financing activities:      
Funding from SINA     15,824
Repayment of amount due to SINA   $ (2,863) (276,614)
Supplemental schedule of non-cash investing and financing activities      
Deemed contribution from SINA (Note 10)     $ 61,176