XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 72,714,000 $ 109,001,000 $ 152,913,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 15,302,000 51,811,000 79,754,000
Amortization of financing costs and discounts 1,889,000 442,000 1,217,000
Non-cash operating lease costs 1,332,000 4,396,000 5,602,000
Share-based compensation 20,055,000 2,458,000 5,623,000
Provision for doubtful accounts 1,157,000 7,194,000 10,133,000
Deferred income taxes (1,653,000) 7,155,000 13,256,000
Loss (gain) on sale of businesses 0 21,797,000 (17,122,000)
Lease asset impairments and other charges 0 9,149,000 0
Changes in fair value of contingent consideration 0 642,000 (161,000)
Foreign currency remeasurement loss (gain) 0 181,000 (35,142,000)
Goodwill impairment on business 0 32,629,000 0
Loss on extinguishment of debt 0 0 37,969,000
Decrease (increase) in:      
Accounts receivable (2,908,000) (2,788,000) (4,909,000)
Prepaid expenses and other current assets (9,489,000) (12,049,000) 717,000
Other assets (1,944,000) (3,259,000) 731,000
Increase (decrease) in:      
Accounts payable and accrued expenses (940,000) 5,831,000 (13,369,000)
Income taxes payable (2,797,000) (230,000) (1,269,000)
Deferred revenue (2,203,000) (1,797,000) (2,401,000)
Operating lease liabilities (1,677,000) (5,197,000) (3,345,000)
Liability for uncertain tax positions 1,930,000 (1,730,000) 8,438,000
Other long-term liabilities (7,619,000) 8,039,000 154,000
Net cash provided by operating activities 83,149,000 233,675,000 238,789,000
Cash flows from investing activities:      
Purchases of property and equipment (30,045,000) (32,998,000) (32,463,000)
Proceeds from sale of assets 0 0 507,000
Acquisition of businesses, net of cash received (12,230,000) (56,838,000) (50,208,000)
Proceeds from sale of businesses, net of cash divested 0 48,876,000 24,353,000
Purchases of intangible assets (1,000,000) (1,511,000) (3,110,000)
Net cash used in investing activities (43,275,000) (42,471,000) (60,921,000)
Cash flows from financing activities:      
Debt issuance cost (232,000) (10,849,000) 0
Payment of debt 0 (593,000) (650,000,000)
Debt extinguishment costs 0 0 (29,250,000)
Issuance of long-term debt 0 305,000,000 0
Issuance of common stock under employee stock purchase plan 1,284,000 519,000 0
Repurchase of common stock (7,596,000) 0 0
Shares withheld related to net share settlement (4,079,000) 0 0
Notes payable from related parties 0 0 (819,000)
Deferred payments for acquisitions 0 (6,267,000) (6,571,000)
Contributions from Former Parent 0 21,238,000 508,938,000
Distribution to Former Parent - Separation 0 (290,282,000) 0
Distribution of non-fax cash to Former Parent 0 (266,539,000) 0
Other 0 0 (1,387,000)
Net cash used in financing activities (10,623,000) (247,773,000) (179,089,000)
Effect of exchange rate changes on cash and cash equivalents (1,865,000) (4,842,000) 6,635,000
Net change in cash and cash equivalents 27,386,000 (61,411,000) 5,414,000
Cash and cash equivalents at beginning of year 66,778,000 128,189,000 122,775,000
Cash and cash equivalents at end of year 94,164,000 66,778,000 128,189,000
Less cash and cash equivalents at end of year, discontinued operations 0 0 61,979,000
Cash and cash equivalents at end of year, continuing operations $ 94,164,000 $ 66,778,000 $ 66,210,000