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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 44,060 $ 72,331 $ 58,711
Adjustments to reconcile net income to net cash provided by operating activities-      
Depreciation 27,967 24,835 22,926
Amortization 48,984 47,966 43,947
Amortization of original issue discount 0 3,021 2,983
Asset impairment 31,761 1,270 11,030
Loss on short-term investments and other 18 (294) (123)
Loss on derivative liability upon debt conversion 7,456 0 0
Loss on extinguishment of debt 0 132 0
Loss on acquisition of controlling interest 0 6,180 0
Unrealized foreign currency transactions (gain)/loss, net (103) (424) 18
Deferred income taxes (27,627) 2,388 (1,033)
Stock-based compensation 27,243 21,400 25,237
Changes in operating assets and liabilities, net of acquired amounts:      
Trade accounts receivable, net (51,005) (10,278) 14,659
Other current and non-current assets and liabilities (12,833) (1,527) (10,733)
Income taxes payable/receivable 9,336 (10,174) 5,405
Trade accounts payable and accrued liabilities (36,971) (15,607) (5,752)
Deferred revenue (4,689) (996) 5,718
Net cash provided by operating activities 63,597 140,223 172,993
Cash flows from investing activities:      
Purchases of software, property and equipment (36,991) (26,562) (29,397)
Purchases of short-term investments 0 (66,970) (81,824)
Proceeds from sale/maturity of short-term investments 27,953 90,452 56,454
Acquisition of and investments in business, net of cash acquired 0 (63,626) (11,491)
Net cash used in investing activities (9,038) (66,706) (66,258)
Cash flows from financing activities:      
Proceeds from issuance of common stock 2,969 2,610 2,523
Payment of cash dividends (33,475) (32,587) (31,056)
Repurchase of common stock (96,720) (42,253) (38,123)
Deferred acquisition payments (2,314) 0 0
Proceeds from long-term debt 290,000 150,000 0
Payments on long-term debt (264,801) (128,438) (10,313)
Payments of deferred financing costs 0 (3,000) 0
Settlement and merchant reserve activity 52,656 20,277 (15,144)
Net cash used in financing activities (51,685) (33,391) (92,113)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (5,758) (2,954) 2,454
Net decrease in cash, cash equivalents and restricted cash (2,884) 37,172 17,076
Cash, cash equivalents and restricted cash, beginning of period 391,902 354,730 337,654
Cash, cash equivalents and restricted cash, end of period 389,018 391,902 354,730
Cash paid during the period for-      
Interest 18,314 12,882 13,681
Income taxes 34,671 36,690 22,431
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 150,365 205,635 188,699
Settlement and merchant reserve assets 238,653 186,267 166,031
Total cash, cash equivalents and restricted cash $ 389,018 $ 391,902 $ 354,730