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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 20,522 $ 23,896
Adjustments to reconcile net income to net cash provided by operating activities:    
Tax benefit from stock-based compensation 5,221 5,201
Depreciation and amortization 930 0
Impairment charges (962) (3,202)
Deferred taxes (14) (16)
Accrued interest on note receivable - related party 5,176 4,927
Deferred rent expense 161 204
Marketable Securities, Realized Gain (Loss) 20  
Realized (gain) loss on sale of marketable securities   779
Changes in fair value on contingent liability 832 0
Provision for Doubtful Accounts 7,500  
Changes, net of acquisitions, in:    
Accounts receivable 13,549 14,270
Factor accounts receivable (41,246) (33,022)
Notes receivable - related party 35,549 21,724
Repayment of Notes Receivable from Related Parties 103 103
Inventories 12,907 1,501
Prepaid expenses, prepaid taxes, deposits and other (45,777) (17,655)
Increase (Decrease) in Employee Related Liabilities (5,736) (4,367)
Increase (Decrease) in Other Accrued Liabilities (182) 902
Net cash provided by operating activities 8,513 15,245
Cash flows from investing activities:    
Capital expenditures (3,293) (4,384)
Purchases of marketable securities (5,301) (3,497)
Repayment of notes receivable 16,593 4,534
Acquisitions, net of cash acquired (17,396) 0
Net cash used in investing activities (9,397) (3,347)
Cash flows from financing activities:    
Proceeds from exercise of stock options (33,161) (14,034)
Tax benefit from the exercise of options 1,812 3,678
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 (3,483)
Net cash used in financing activities (31,349) (13,839)
Effect of Exchange Rate on Cash and Cash Equivalents 379 432
Net (decrease) in cash and cash equivalents (31,854) (1,509)
Cash and cash equivalents – beginning of period 126,115 72,414
Cash and cash equivalents – end of period $ 94,261 $ 70,905