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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ (32,415) $ 4,876
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Print textbook depreciation expense 6,581 7,062
Other depreciation and amortization expense 30,187 19,834
Share-based compensation expense 51,645 37,880
Amortization of debt discount and issuance costs 3,097 25,892
Loss on change in fair value of derivative instruments, net 7,148 0
Loss from write-off of property and equipment 1,042 851
Gain on sale of strategic equity investment (5,338) 0
Loss (gain) on textbook library, net 4,230 (1,371)
Operating lease expense, net of accretion 3,064 2,185
Other non-cash items 298 (427)
Change in assets and liabilities, net of effect of acquisition of business:    
Accounts receivable 3,462 3,961
Prepaid expenses and other current assets (14,715) (1,812)
Other assets 7,220 (712)
Accounts payable (3,139) (574)
Deferred revenue 2,062 8,117
Accrued liabilities 4,197 17,389
Other liabilities (2,277) (946)
Net cash provided by operating activities 144,501 122,205
Investing activities    
Purchases of property and equipment (46,595) (43,111)
Purchases of textbooks (5,018) (38,668)
Proceeds from disposition of textbooks 6,709 3,415
Purchases of investments (984,606) (277,033)
Maturities of investments 455,536 271,711
Purchase of strategic equity investment 0 (2,000)
Proceeds from sale of strategic equity investment 7,081 0
Acquisition of businesses, net of cash acquired (7,891) (92,796)
Net cash used in investing activities (574,784) (178,482)
Financing activities    
Proceeds from common stock issued under stock plans, net 5,267 8,039
Payment of taxes related to the net share settlement of equity awards (74,642) (54,104)
Proceeds from equity offering, net of offering costs 1,091,466 0
Repayment of convertible senior notes (300,751) 0
Proceeds from exercise of convertible senior notes capped call 69,004 0
Net cash provided by (used in) financing activities 790,344 (46,065)
Net increase (decrease) in cash, cash equivalents and restricted cash 360,061 (102,342)
Cash, cash equivalents and restricted cash, beginning of period 481,715 389,432
Cash, cash equivalents and restricted cash, end of period 841,776 287,090
Supplemental cash flow data:    
Interest 615 931
Income taxes, net of refunds 4,268 1,247
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 4,030 3,350
Right of use assets obtained in exchange for operating lease obligations 0 1,713
Non-cash investing and financing activities:    
Accrued purchases of long-lived assets 2,341 754
Accrued escrow related to acquisition 0 7,451
Issuance of common stock related to repayment of convertible senior notes 235,521 0
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 840,056 285,064
Restricted cash included in other current assets 0 308
Restricted cash included in other assets 1,720 1,718
Total cash, cash equivalents and restricted cash $ 841,776 $ 287,090