| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
82,770 | 66,130 | 61,364 | 62,882 | 62,567 | 35,711 | 45,268 | 48,879 | 42,282 | 22,429 | 43,333 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities – | ||||||||||
Depreciation | ||||||||||
21,422 | 18,304 | 13,380 | 13,616 | 14,776 | 14,084 | 18,633 | 22,286 | 25,435 | 22,428 | 20,069 |
Amortization | ||||||||||
45,700 | 44,328 | 29,501 | 27,626 | 29,281 | 33,553 | 37,819 | 44,178 | 42,173 | 19,438 | 14,325 |
Amortization of original issue discount | ||||||||||
2,819 | 2,664 | 2,790 | 4,866 | 6,246 | 5,781 | 5,352 | 4,954 | 5,206 | 6,893 | 8,382 |
Asset impairment | ||||||||||
438 | 1,851 | 3,135 | - | 1,685 | - | - | 3,783 | - | - | - |
Gain on short-term investments and other | ||||||||||
364 | 101 | 184 | 83 | -177 | -1,123 | -910 | 107 | 60 | 129 | 600 |
Loss on termination of pension plan | ||||||||||
- | - | - | - | - | - | 3,221 | - | - | - | - |
Loss on extinguishment of debt | ||||||||||
- | -810 | - | -8,651 | - | - | - | - | - | -12,714 | 1,468 |
Gain on disposition of business operations | ||||||||||
- | - | - | 6,611 | 3,733 | 222 | -3,017 | - | - | - | - |
Loss on foreign currency transactions | ||||||||||
- | - | - | - | - | - | - | - | - | -14,023 | - |
Deferred income taxes | ||||||||||
-77 | 4,913 | 7,112 | -2,811 | -16,106 | 41 | -1,764 | -10,707 | 3,977 | 3,275 | 18,492 |
Excess tax benefit of stock-based compensation awards | ||||||||||
- | - | - | 4,729 | 2,185 | 2,060 | 677 | 415 | 828 | 1,147 | 145 |
Stock-based compensation | ||||||||||
19,900 | 19,400 | 21,000 | 22,715 | 21,130 | 16,655 | 14,796 | 13,431 | 12,152 | 12,338 | 12,632 |
Changes in operating assets and liabilities, net of acquired amounts: | ||||||||||
Trade accounts receivable, net | ||||||||||
4,015 | 138 | 6,421 | 23,243 | -1,831 | 14,326 | 2,319 | 9,481 | 30,141 | 4,295 | -12,550 |
Other current and non-current assets and liabilities | ||||||||||
17,727 | 23,179 | -2,875 | -255 | 5,387 | 3,230 | 7,163 | 1,715 | -1,799 | 509 | 1,053 |
Income taxes payable/receivable | ||||||||||
4,771 | 5,055 | -2,729 | -14,167 | 8,953 | -2,260 | 10,639 | -6,543 | 7,573 | -9,971 | -7,927 |
Trade accounts payable and accrued liabilities | ||||||||||
-10,317 | -7,146 | -4,377 | -5,738 | 13,916 | 4,359 | -994 | 18,474 | -20,074 | 22,288 | 9,311 |
Deferred revenue | ||||||||||
5,737 | 10,492 | -300 | 957 | 3,808 | -5,558 | -104 | 425 | -28,535 | 1,534 | 25,158 |
Net cash provided by (used in) operating activities | ||||||||||
151,076 | 143,341 | 127,195 | 84,186 | 136,959 | 83,651 | 126,634 | 127,442 | 60,959 | 121,309 | 153,059 |
Cash flows from investing activities: | ||||||||||
Purchases of software, property and equipment | ||||||||||
37,319 | 57,104 | 28,942 | 14,263 | 18,845 | 25,985 | 30,076 | 33,221 | 22,197 | 14,277 | 40,313 |
Purchases of short-term investments | ||||||||||
54,258 | 75,022 | 182,247 | 196,967 | 181,553 | 190,427 | 183,575 | 65,355 | 37,798 | 64,583 | 57,036 |
Proceeds from sale/maturity of short-term investments | ||||||||||
52,100 | 190,800 | 193,500 | 157,825 | 192,994 | 197,466 | 89,688 | 42,063 | 43,450 | 81,900 | 79,700 |
Net proceeds from foreign currency option | ||||||||||
- | - | - | - | - | - | - | - | - | -582 | - |
Payments for acquisition-related foreign currency transactions | ||||||||||
- | - | - | - | - | - | - | - | - | 14,605 | - |
Acquisition of and investments in business, net of cash acquired | ||||||||||
17,194 | 144,791 | - | - | 1,300 | - | 2,926 | 19,085 | - | 259,502 | 6,738 |
Acquisition of and investments in client contracts | ||||||||||
- | - | 12,180 | 7,587 | 8,018 | 5,600 | 7,092 | 4,629 | 9,133 | 4,797 | 16,423 |
Proceeds from the disposition of business operations | ||||||||||
- | - | - | 8,850 | - | 1,130 | 4,530 | - | - | - | - |
Net cash used in investing activities | ||||||||||
-56,636 | -86,139 | -29,904 | -52,142 | -16,722 | -23,416 | -129,451 | -80,227 | -25,678 | -275,282 | -40,810 |
Cash flows from financing activities: | ||||||||||
Proceeds from issuance of common stock | ||||||||||
2,227 | 2,311 | 1,776 | 1,547 | 1,547 | 1,394 | 1,591 | 1,896 | 1,486 | 1,405 | 1,477 |
Payment of cash dividends | ||||||||||
29,126 | 27,979 | 26,850 | 24,110 | 22,238 | 20,530 | 14,454 | - | - | - | - |
Repurchase of common stock | ||||||||||
30,918 | 34,726 | 30,649 | 25,196 | 65,027 | 25,138 | 15,478 | 16,558 | 14,365 | 34,030 | 6,562 |
Exercise of common stock warrants | ||||||||||
12,911 | - | - | - | - | - | - | - | - | - | - |
Payments on acquired asset financing | ||||||||||
- | - | - | - | 829 | 1,097 | 2,723 | 1,698 | 1,587 | 1,157 | 992 |
Proceeds from long-term debt | ||||||||||
- | 150,000 | - | 230,000 | 150,000 | - | - | 150,000 | - | 385,000 | - |
Payments on long-term debt | ||||||||||
7,500 | 125,625 | 15,000 | 7,500 | 127,500 | 15,000 | 15,000 | 190,000 | 70,149 | 150,958 | 26,714 |
Repurchase of convertible notes | ||||||||||
- | - | - | 215,676 | - | - | - | - | - | - | - |
Excess tax benefit of stock-based compensation awards | ||||||||||
- | - | - | 4,729 | 2,185 | 2,060 | 677 | 415 | 828 | 1,147 | 145 |
Settlement of convertible notes | ||||||||||
- | - | 34,771 | - | - | - | - | - | - | - | - |
Payments of deferred financing costs | ||||||||||
- | 1,490 | - | 6,744 | 2,742 | - | - | 2,450 | 205 | 14,999 | - |
Net cash used in financing activities | ||||||||||
-78,228 | -37,509 | -105,494 | -42,950 | -64,604 | -58,311 | -45,387 | -58,395 | -83,992 | 186,408 | -32,646 |
Effect of exchange rate fluctuations on cash | ||||||||||
1,059 | -2,659 | 4,095 | 4,626 | -4,714 | -2,898 | -2,857 | -1,806 | -2,414 | 1,934 | - |
Net decrease in cash and cash equivalents | ||||||||||
17,271 | 17,034 | -4,108 | -6,280 | 50,919 | -974 | -51,061 | -12,986 | -51,125 | 34,369 | 79,603 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash paid during the period for – | ||||||||||
Interest | ||||||||||
16,064 | 15,857 | 14,729 | 12,191 | 8,380 | 8,265 | 9,440 | 13,124 | 13,921 | 4,345 | 4,715 |
Income taxes | ||||||||||
18,358 | 10,426 | 22,144 | 53,020 | 41,860 | 25,153 | 6,149 | 43,739 | 22,836 | 17,869 | 9,463 |