XML 43 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 357,495 $ 97,809 $ 411,877
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 58,509 54,694 55,008
Stock-based compensation 101,131 111,713 87,996
Amortization of operating lease assets 13,792 11,461 6,224
Non-cash compensation cost to non-controlling interest shareholders 11,541 (20,638) 23,246
Provision of allowance for credit losses 19,092 4,440 19,702
Deferred income taxes 24,038 (24,821) (12,478)
Foreign currency exchange loss 9,142 66,975  
(Income) loss from equity method investments (13,392) 24,069 (14,217)
Dividend received from equity method investments 771 5,772 11,695
(Gain) loss on sale of investments 766 (1,591) (3,243)
Fair value changes through earnings on investments, net (43,002) 243,619 72,787
Investment-related impairment and provision (23,642) (71,081) (106,800)
Impairment of intangible assets   10,176  
Gain on disposal of property and equipment (444) (240) (172)
Amortization of issuance cost of convertible senior notes, unsecured senior notes and long-term loans 8,287 6,273 6,445
Changes in assets and liabilities:      
Prepaid expenses and other current assets 6,157 (20,686) 2,589
Other non-current assets (13,156) (27,980) (14,512)
Accounts payable 19,665 (35,481) 41,809
Accrued and other liabilities (197) (38,058) 274,803
Deferred revenues (1,905) (3,925) (56,181)
Operating lease liabilities (9,612) (10,128) (6,684)
Income taxes payable 40,656 (79,623) 38,910
Net cash provided by operating activities 672,820 564,104 814,020
Cash flows from investing activities:      
Purchases of bank time deposits and wealth management products (755,315) (629,889) (1,170,070)
Maturities of bank time deposits and wealth management products 585,466 859,075 2,040,599
Investment in and prepayment on long-term investments (602,740) (193,784) (1,593,880)
Proceeds from disposal of/refund of prepayment on long-term investments 347,766 141,806 447,381
Proceeds from disposal of property and equipment 463 269 383
Purchases of property and equipment (36,772) (43,136) (35,094)
Prepayment for purchase of SINA Plaza   (153,572) (132,531)
Cash received from (paid for) acquisitions, net of cash acquired (243,385) 939 (61,160)
Prepayment to agent for share repurchase   (2,318)  
Return of prepayment to agent for share repurchase 2,318    
Net cash used in investing activities (736,846) (33,014) (423,960)
Cash flows from financing activities:      
Proceeds from employee options exercised 1 0 1,313
Payments for share repurchases   (57,682)  
Cash received from (paid for) global offering, net of issuance costs   (8,414) 188,129
Proceeds from long-term loans, net of issuance costs 4,982 880,353  
Repayment of convertible senior notes   (899,992)  
Repayment of long-term loans (100,000)    
Proceeds from convertible senior notes, net of issuance costs 321,707    
Proceeds from ADS lending arrangement in connection with issuance of convertible senior notes 2    
Purchase of a subsidiary's shares from non-controlling shareholders (4,871) (5,406)  
Dividends paid to shareholders (200,131)    
Net cash provided by (used in) financing activities 21,690 (91,141) 189,442
Effect of exchange rate changes on cash and cash equivalents (63,797) (172,884) 29,357
Net increase (decrease) in cash and cash equivalents (106,133) 267,065 608,859
Cash and cash equivalents at the beginning of the year 2,690,768 2,423,703 1,814,844
Cash and cash equivalents at the end of the year 2,584,635 2,690,768 2,423,703
Supplemental disclosures of cash flow information:      
Cash paid for interest expenses on convertible senior notes, unsecured senior notes and long-term loans (111,231) (64,562) (37,906)
Cash paid for income taxes (79,476) (135,055) (111,260)
Non-cash investing and financing activities      
Property and equipment in accounts payable 4,179 17,641 5,520
Unpaid consideration for acquisition of STC   218,402  
Unpaid consideration for other acquisitions (5,674) (687) (6,293)
Third parties      
Changes in assets and liabilities:      
Accounts receivable due from 7,291 159,365 (273,728)
Related party | Alibaba      
Changes in assets and liabilities:      
Accounts receivable due from 12,321 10,162 49,003
Related party | SINA      
Changes in assets and liabilities:      
Amount due from SINA 30,741 (47,303) (7,787)
Cash flows from investing activities:      
Loans to SINA (1,105,747) (1,261,880) (978,162)
Repayment of loans by SINA 1,071,100 1,249,476 1,058,574
Other related parties      
Changes in assets and liabilities:      
Accounts receivable due from $ 9,491 $ (3,031) $ (5,872)