XML 21 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 44,976 $ 44,699
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation (3,762) (8,974)
Tax benefit from stock-based compensation 10,675 9,265
Depreciation and amortization 0 661
Loss on disposal of fixed assets 0 3,045
Impairment charges (896) (6,664)
Deferred taxes (32) (35)
Accrued interest on note receivable - related party 9,636 9,082
Deferred rent expense 936 303
Realized loss (gain) on sale of marketable securities 779 (96)
Changes in fair value on contingent liability 1,518 (142)
Changes, net of acquisitions, in:    
Accounts receivable 15,353 (7,406)
Factor accounts receivable (33,533) (16,878)
Notes receivable - related party (14,289) (19,256)
Repayment of Notes Receivable from Related Parties 205 204
Inventories 1,741 11,183
Prepaid expenses, prepaid taxes, deposits and other 25,725 34,504
Increase (Decrease) in Employee Related Liabilities (3,089) (2,616)
Increase (Decrease) in Other Accrued Liabilities (980) 2,904
Net cash provided by operating activities 54,963 53,783
Cash flows from investing activities:    
Capital expenditures (8,402) (8,452)
Purchases of marketable securities (13,210) (27,093)
Repayment of notes receivable 14,052 26,224
Proceeds from Collection of Notes Receivable 0 240
Acquisitions, net of cash acquired (3,665) (8,729)
Net cash used in investing activities (11,225) (17,810)
Cash flows from financing activities:    
Proceeds from exercise of stock options (41,070) (74,156)
Tax benefit from the exercise of options 3,708 19,703
Payment of contingent liability 3,762 8,974
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability (6,281) (2,950)
Net cash used in financing activities (39,881) (48,429)
Net increase (decrease) in cash and cash equivalents 3,857 (12,456)
Cash and cash equivalents – beginning of period 72,414 81,450
Cash and cash equivalents – end of period $ 76,271 $ 68,994