Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES:    
Net income (loss) $ 8,002 $ (13,135)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,546 15,835
Deferred rent and lease incentive amortization 385 182
Provision for doubtful accounts 461 82
Deferred income taxes (17,923) 2,684
Stock-based compensation expense 8,495 7,458
Non-cash interest expense 3,209 3,522
Accretion on contingent consideration and purchase liability 101 156
Payments of contingent consideration   (357)
Loss allocation from equity method investment 660 285
Loss on disposal of fixed assets 10  
Changes in operating assets and liabilities, net of acquisitions:    
Fees receivable, net (10,191) (545)
Prepaid expenses and other current assets (3,665) (3,932)
Other non-current assets (2,461) 543
Accrued expenses and other liabilities (17,404) (8,758)
Accounts payable 1,594 865
Deferred revenue 7,056 2,619
Other non-current liabilities 1,372 1,140
Net cash provided by (used in) operating activities (753) 8,644
INVESTING ACTIVITIES:    
Purchase of property and equipment (4,988) (4,007)
Capitalization of internally developed software (4,599) (2,091)
Acquisition of businesses (178,583)  
Net cash used in investing activities (188,170) (6,098)
FINANCING ACTIVITIES:    
Proceeds from borrowings on revolving credit facility 195,000 25,000
Payments on revolving credit facility (15,000)  
Payments of contingent consideration   (1,929)
Payments of definite consideration   (445)
Payment of Term Notes   (33,862)
Proceeds from exercise of stock options 2,404 1,900
Purchase of treasury stock for stock-based tax withholdings (9,296) (6,650)
Issuance of restricted stock units 2 3
Net cash provided by (used in) financing activities 173,110 (15,983)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (109) 324
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (15,922) (13,113)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 62,115 54,592
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (See Note 2) 46,193 41,479
Supplemental disclosure of cash flow information - net cash paid (refunded) during the period for income taxes 1,359 (716)
Supplemental disclosure of cash flow information - cash paid during the period for interest 1,974 1,414
Supplemental disclosure of non-cash operating, investing and financing activities:    
Purchase liabilities included in accrued expenses and other liabilities 13,172  
Accrued payment to fund deferred compensation liability included in accounts payable 1,551  
Purchase of fixed assets included in accrued expenses and other liabilities $ 1,331 $ 471