Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES:    
Net loss $ (18,268) $ 8,002
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 19,517 19,546
Deferred rent and lease incentive amortization 0 385
Provision for doubtful accounts 451 461
Deferred income taxes 169 (17,923)
Stock-based compensation expense 12,864 8,495
Non-cash interest expense 6,880 3,209
Accretion on contingent consideration and purchase liability 240 101
Loss allocation from equity method investment 203 660
Changes in operating assets and liabilities, net of acquisitions:    
Fees receivable, net 1,198 (10,191)
Prepaid expenses and other current assets (13,346) (3,665)
Other non-current assets (1,060) (2,461)
Accrued expenses and other liabilities (34,495) (17,404)
Accounts payable 5,179 1,594
Deferred revenue 7,039 7,056
Other non-current liabilities 854 1,382
Net cash used in operating activities (12,575) (753)
INVESTING ACTIVITIES:    
Purchase of property and equipment (5,247) (4,988)
Capitalization of internally developed software (7,185) (4,599)
Acquisition of business (11,061) (178,583)
Other (1,000) 0
Net cash used in investing activities (24,493) (188,170)
FINANCING ACTIVITIES:    
Proceeds from borrowings on revolving credit facility 0 195,000
Payments on revolving credit facility 0 (15,000)
Proceeds from exercise of stock options 3,163 2,404
Purchase of treasury stock for stock-based tax withholdings (9,819) (9,296)
Issuance of restricted stock units 2 2
Net cash provided by (used in) financing activities (6,654) 173,110
EFFECT OF EXCHANGE RATE CHANGES ON CASH 112 (109)
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (43,610) (15,922)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 289,671 62,115
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (See Note 2) 246,061 46,193
Supplemental disclosure of cash flow information - net cash paid during the period for income taxes 4,998 1,359
Supplemental disclosure of cash flow information - cash paid during the period for interest 216 1,974
Supplemental disclosure of non-cash operating, investing and financing activities:    
Common stock issued to settle purchase liability 772 0
Contingent consideration issued in business acquisition 7,580 0
Purchase liabilities included in other non-current liabilities 5,468 0
Purchase liabilities included in accrued expenses and other liabilities 0 13,172
Accrued payment to fund deferred compensation liability included in accounts payable 0 1,551
Purchase of fixed assets included in accounts payable and accrued expenses and other liabilities 359 1,331
Accrued payment to fund deferred compensation liability included in accounts payable $ 489 $ 0