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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 26,572 $ 29,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,065 10,091
Deferred taxes (1,242) (433)
Non-cash equity-based compensation 7,826 8,210
Bad debt expense 361 526
Changes in operating assets and liabilities:    
Accounts receivable 2,366 (5,892)
Prepaid expenses and other current and non-current assets (1,376) (9,306)
Accounts payable and other current and non-current liabilities (26,717) (72)
Contributor royalties payable 1,030 (369)
Deferred revenue (1,162) 3,559
Net cash provided by operating activities 22,723 35,828
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (11,775) (8,548)
Business combination, net of cash acquired 0 (72,165)
Acquisition of content (734) (489)
Security deposit payment (16) (11)
Net cash used in investing activities (12,525) (81,213)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repurchase of treasury shares (38,372) 0
Proceeds from exercise of stock options 0 1,309
Cash paid related to settlement of employee taxes related to RSU vesting (18,496) (13,034)
Payment of cash dividend (8,706) (7,646)
Net cash used in financing activities (65,574) (19,371)
Effect of foreign exchange rate changes on cash (529) 108
Net decrease in cash and cash equivalents (55,905) (64,648)
Cash and cash equivalents, beginning of period 314,017 428,574
Cash and cash equivalents, end of period 258,112 363,926
Supplemental Disclosure of Cash Information:    
Cash paid for income taxes $ 1,666 $ 3,363