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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 120,348,000 $ (286,180,000) $ (11,695,000)
Less: Income (loss) from discontinued operations, net of tax 0 382,000 2,597,000
Income (loss) from continuing operations 120,348,000 (286,562,000) (14,292,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property, equipment and software 63,925,000 77,792,000 91,410,000
Amortization of acquired intangible assets 8,894,000 9,730,000 14,355,000
Impairment of goodwill 0 109,486,000 0
Impairment of long-lived assets 0 22,351,000 0
Restructuring-related impairment 7,651,000 21,622,000 0
Stock-based compensation 33,169,000 39,010,000 81,615,000
Changes in fair value of investments (95,623,000) 8,089,000 31,061,000
Deferred income taxes (33,985,000) (7,101,000) (1,485,000)
Amortization of debt discount on convertible senior notes 1,601,000 14,621,000 13,200,000
Foreign currency translation adjustments reclassified into earnings (32,273,000) 0 0
Change in assets and liabilities:      
Accounts receivable 5,432,000 13,524,000 13,577,000
Prepaid expenses and other current assets (13,472,000) 42,249,000 3,176,000
Right-of-use assets - operating leases 19,919,000 22,463,000 26,226,000
Accounts payable (10,302,000) 11,414,000 (17,401,000)
Accrued merchant and supplier payables (133,849,000) (142,624,000) (109,176,000)
Accrued expenses and other current liabilities (45,015,000) 36,159,000 (26,071,000)
Operating lease obligations (31,801,000) (36,864,000) (28,552,000)
Other, net 11,423,000 (18,957,000) (6,360,000)
Net cash provided by (used in) operating activities from continuing operations (123,958,000) (63,598,000) 71,283,000
Net cash provided by (used in) operating activities from discontinued operations 0 0 0
Net cash provided by (used in) operating activities (123,958,000) (63,598,000) 71,283,000
Investing activities      
Purchases of property and equipment and capitalized software (49,630,000) (48,711,000) (67,328,000)
Proceeds from sale or divestment of investment 6,950,000 31,605,000 3,475,000
Acquisitions of intangible assets and other investing activities (3,131,000) (4,240,000) (3,738,000)
Net cash provided by (used in) investing activities from continuing operations (45,811,000) (21,346,000) (67,591,000)
Net cash provided by (used in) investing activities from discontinued operations 0 1,224,000 0
Net cash provided by (used in) investing activities (45,811,000) (20,122,000) (67,591,000)
Financing activities      
Proceeds from issuance of 2026 convertible notes 230,000,000 0 0
Proceeds from (payments of) borrowings under revolving credit agreement (100,000,000) 200,000,000 0
Issuance costs for 2026 convertible notes and revolving credit agreement (7,747,000) (1,686,000) (2,384,000)
Purchase of capped call transactions (27,416,000) 0 0
Payments for the repurchase of Atairos convertible notes (254,000,000) 0 0
Proceeds from the settlement of convertible note hedges 2,315,000 0 0
Payments for the settlement of warrants (1,345,000) 0 0
Payments for repurchases of common stock 0 0 (45,631,000)
Taxes paid related to net share settlements of stock-based compensation awards (19,834,000) (10,607,000) (18,105,000)
Payments of finance lease obligations (5,302,000) (8,930,000) (19,687,000)
Other financing activities (521,000) (1,979,000) (6,812,000)
Net cash provided by (used in) financing activities (183,850,000) 176,798,000 (92,619,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations 2,017,000 6,574,000 (3,144,000)
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (351,602,000) 99,652,000 (92,071,000)
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 0 1,224,000 0
Net increase (decrease) in cash, cash equivalents and restricted cash (351,602,000) 98,428,000 (92,071,000)
Cash, cash equivalents and restricted cash, beginning of period [1] 851,085,000 752,657,000 844,728,000
Cash, cash equivalents and restricted cash, end of period [1] 499,483,000 851,085,000 752,657,000
Supplemental disclosure of cash flow information      
Income tax payments (refunds) for continuing operations 11,145,000 3,262,000 11,898,000
Cash paid for interest 13,866,000 12,749,000 9,145,000
Cash paid for amounts included in the measurement of lease liabilities:      
Cash paid for amounts included in operating cash flows from finance leases (120,000) (522,000) (1,021,000)
Cash paid for amounts included in operating cash flows from operating leases (33,079,000) (36,864,000) (36,723,000)
Right-of-use assets obtained in exchange for lease liabilities:      
Right-of-use assets obtained in exchange for finance leases 0 0 3,929,000
Right-of-use assets obtained in exchange for operating leases $ 683,000 $ 16,415,000 $ 27,293,000
[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, 2021, 2020 and 2019 (in thousands):
December 31, 2021December 31, 2020December 31, 2019
Cash and cash equivalents$498,726 $850,587 $750,887 
Restricted cash included in prepaid expenses and other current assets757 498 1,534 
Restricted cash included in other non-current assets— — 236 
Cash, cash equivalents and restricted cash$499,483 $851,085 $752,657