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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 72,331 $ 58,711 $ 82,770
Adjustments to reconcile net income to net cash provided by operating activities-      
Depreciation 24,835 22,926 21,422
Amortization 47,966 43,947 45,700
Amortization of original issue discount 3,021 2,983 2,819
Asset impairment 1,270 11,030 438
(Gain)/loss on short-term investments and other (294) (123) (364)
Loss on extinguishment of debt 132    
Loss on acquisition of controlling interest 6,180    
Deferred income taxes 2,388 (1,033) (77)
Stock-based compensation 21,400 25,237 19,919
Changes in operating assets and liabilities, net of acquired amounts:      
Trade accounts receivable, net (10,702) 14,659 (4,015)
Other current and non-current assets and liabilities (1,527) (10,715) (17,762)
Income taxes payable/receivable (10,174) 5,405 4,771
Trade accounts payable and accrued liabilities (15,607) (5,752) (10,317)
Deferred revenue (996) 5,718 5,737
Net cash provided by operating activities 140,223 172,993 151,041
Cash flows from investing activities:      
Purchases of software, property and equipment (26,562) (29,397) (37,319)
Purchases of short-term investments (66,970) (81,824) (54,258)
Proceeds from sale/maturity of short-term investments 90,452 56,454 52,135
Acquisition of and investments in business, net of cash acquired (63,626) (11,491) (17,194)
Net cash used in investing activities (66,706) (66,258) (56,636)
Cash flows from financing activities:      
Proceeds from issuance of common stock 2,610 2,523 2,227
Payment of cash dividends (32,587) (31,056) (29,126)
Repurchase of common stock (42,253) (38,123) (30,918)
Exercise of common stock warrants     (12,911)
Proceeds from long-term debt 150,000    
Payments on long-term debt (128,438) (10,313) (7,500)
Payments of deferred financing costs (3,000)    
Settlement and merchant reserve activity 20,277 (15,144) 42,303
Net cash used in financing activities (33,391) (92,113) (35,925)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (2,954) 2,454 1,102
Net increase in cash, cash equivalents and restricted cash 37,172 17,076 59,582
Cash, cash equivalents and restricted cash, beginning of period 354,730 337,654 278,072
Cash, cash equivalents and restricted cash, end of period 391,902 354,730 337,654
Cash paid during the period for-      
Interest 12,882 13,681 16,064
Income taxes 36,690 22,431 18,358
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 205,635 188,699 156,548
Settlement and merchant reserve assets 186,267 166,031 181,106
Total cash, cash equivalents and restricted cash $ 391,902 $ 354,730 $ 337,654