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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income (loss) $ (286,180) $ (11,695) $ 1,988
Less: Income (loss) from discontinued operations, net of tax 382 2,597 0
Income (loss) from continuing operations (286,562) (14,292) 1,988
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and software 77,792 91,410 101,330
Amortization of acquired intangible assets 9,730 14,355 14,498
Impairment of goodwill 109,486 0 0
Impairment of long-lived assets 22,351 0 0
Restructuring-related impairment 21,622 0 0
Stock-based compensation 39,010 81,615 64,821
Impairments of investments 6,684 9,961 10,156
Upward adjustment for observable price change of investment 0 (51,397) 0
Deferred income taxes (7,101) (1,485) (5,000)
(Gain) loss from changes in fair value of investments 1,405 72,497 9,064
Amortization of debt discount on convertible senior notes 14,621 13,200 11,916
Change in assets and liabilities, net of acquisitions and dispositions:      
Accounts receivable 13,524 13,577 32,057
Prepaid expenses and other current assets 42,249 3,176 7,166
Right-of-use assets - operating leases 22,463 26,226 0
Accounts payable 11,414 (17,401) 5,805
Accrued merchant and supplier payables (142,624) (109,176) (45,268)
Accrued expenses and other current liabilities 36,159 (26,071) (31,430)
Operating lease obligations (36,864) (28,552) 0
Other, net (18,957) (6,360) 13,752
Net cash provided by (used in) operating activities from continuing operations (63,598) 71,283 190,855
Net cash provided by (used in) operating activities from discontinued operations 0 0 0
Net cash provided by (used in) operating activities (63,598) 71,283 190,855
Investing activities      
Purchases of property and equipment and capitalized software (48,711) (67,328) (69,695)
Proceeds from sale of intangible assets 0 0 1,500
Proceeds from sales and maturities of investments 31,605 3,475 8,594
Acquisition of business, net of acquired cash 0 0 (58,119)
Acquisitions of intangible assets and other investing activities (4,240) (3,738) (18,262)
Net cash provided by (used in) investing activities from continuing operations (21,346) (67,591) (135,982)
Net cash provided by (used in) investing activities from discontinued operations 1,224 0 0
Net cash provided by (used in) investing activities (20,122) (67,591) (135,982)
Financing activities      
Proceeds from borrowings under revolving credit agreement 200,000 0 0
Issuance costs for revolving credit agreement (1,686) (2,384) 0
Payments for repurchases of common stock 0 (45,631) (9,585)
Taxes paid related to net share settlements of stock-based compensation awards (10,607) (18,105) (24,105)
Proceeds from stock option exercises and employee stock purchase plan 1,791 4,123 5,715
Distributions to noncontrolling interest holders (2,862) (10,935) (12,576)
Payments of finance lease obligations (8,930) (19,687) (33,023)
Payments of contingent consideration related to acquisitions (908) 0 (1,815)
Payment of financing obligation related to acquisition 0 0 (8,391)
Other financing activities 0 0 (637)
Net cash provided by (used in) financing activities 176,798 (92,619) (84,417)
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations 6,574 (3,144) (11,209)
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations 99,652 (92,071) (40,753)
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 1,224 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash 98,428 (92,071) (40,753)
Cash, cash equivalents and restricted cash, beginning of period [1] 752,657 844,728 885,481
Cash, cash equivalents and restricted cash, end of period [1] 851,085 752,657 844,728
Supplemental disclosure of cash flow information      
Cash paid for interest 12,749 9,145 9,556
Non-cash investing and financing activities      
Equipment acquired under capital lease arrangements 0 0 18,064
Cash paid for amounts included in operating cash flows from finance leases (522) (1,021) 0
Cash paid for amounts included in operating cash flows from operating leases (36,864) (36,723) 0
Right-of-use assets obtained in exchange for finance leases 0 3,929 0
Right-of-use assets obtained in exchange for operating leases 16,415 27,293 0
Restricted Cash [Abstract]      
Cash, cash equivalents and restricted cash [1] 851,085 844,728 885,481
Continuing Operations      
Operating activities      
Income (loss) from continuing operations (286,562) (14,292) 1,988
Supplemental disclosure of cash flow information      
Income tax payments (refunds) $ 3,262 $ 11,898 $ 2,781
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the consolidated balance sheets as of December 31, 2020, 2019 and 2018 (in thousands):
December 31, 2020December 31, 2019December 31, 2018
Cash and cash equivalents$850,587 $750,887 $841,021 
Restricted cash included in prepaid expenses and other current assets498 1,534 3,320 
Restricted cash included in other non-current assets— 236 387 
Cash, cash equivalents and restricted cash$851,085 $752,657 $844,728