| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income / (loss) | ||||||
42,366 | 17,797 | -85,276 | ||||
Adjustments to reconcile net income to net cash flows from operating activities: | ||||||
Unrealized foreign currency translation losses | ||||||
-457 | -466 | -2,762 | ||||
Depreciation expense | ||||||
5,075 | 5,089 | 5,152 | ||||
Amortization of intangible assets | ||||||
8,751 | 7,835 | 9,287 | ||||
Stock based compensation expense | ||||||
4,289 | 574 | 861 | ||||
Interest and penalties | ||||||
-65 | 1,494 | 2,439 | ||||
Income taxes | ||||||
-5,507 | -3,846 | -8,340 | ||||
Allowance for doubtful accounts | ||||||
818 | 2,548 | 2,142 | ||||
Provision for contingencies | ||||||
-603 | 526 | 10,347 | ||||
Changes in assets and liabilities, net of non-cash transactions: | ||||||
(Increase) / Decrease in accounts receivable, net of allowances | ||||||
85,383 | 71,389 | 22,834 | ||||
(Increase) / Decrease Related party receivables | ||||||
3,013 | 293 | 1,947 | ||||
(Increase) / Decrease in other assets and prepaid expenses | ||||||
10,090 | -3,591 | 8,030 | ||||
Increase / (Decrease) in accounts payable and accrued expenses | ||||||
22,363 | -13,895 | 22,689 | ||||
Increase / (Decrease) in travel suppliers payable | ||||||
78,835 | -20,121 | -15,079 | ||||
Increase / (Decrease) in other liabilities | ||||||
-12,323 | 10,440 | -19,835 | ||||
Increase / (Decrease) in contingencies | ||||||
-12,183 | 618 | 1,170 | ||||
Increase / (Decrease) in related party liabilities | ||||||
13,964 | 13,210 | 57,797 | ||||
Increase / (Decrease) in deferred revenue | ||||||
2,461 | -5,628 | 5,766 | ||||
Net cash flows provided by / (used in) operating activities | ||||||
61,226 | -43,292 | -24,249 | ||||
Cash flows from investing activities: | ||||||
Sales of short-term investments | ||||||
- | 40,013 | - | ||||
Payments for short-term investments | ||||||
- | - | 40,013 | ||||
Acquisition of property and equipment | ||||||
8,746 | 4,419 | 7,085 | ||||
Increase of intangible assets, including internal-use software and website development | ||||||
12,929 | 12,159 | 13,552 | ||||
(Increase) / Decrease in restricted cash and cash equivalents | ||||||
-3,414 | 9,051 | 20,336 | ||||
Net cash flows (used in) / provided by investing activities | ||||||
-18,261 | 14,384 | -80,986 | ||||
Cash flows from financing activities: | ||||||
Increase in loans and other financial liabilities | ||||||
30,159 | 10,142 | 1,200 | ||||
Decrease in loans and other financial liabilities | ||||||
29,574 | 5,000 | - | ||||
Proceeds from issuance of shares (1) | ||||||
253,529 | - | 267,593 | ||||
Repurchase of common stocks (2) | ||||||
- | - | 45,000 | ||||
Loans received (2) | ||||||
- | - | 25,000 | ||||
Payments of loans (2) | ||||||
- | - | 50,000 | ||||
Net cash flows provided by financing activities | ||||||
254,114 | 5,142 | 198,793 | ||||
Effect of exchange rate changes on cash and cash equivalents | ||||||
-2,034 | -2,382 | -12,478 | ||||
Net increase / (decrease) in cash and cash equivalents | ||||||
295,045 | -26,148 | 81,080 | ||||
Supplemental cash flow information | ||||||
Cash paid for income tax | ||||||
18,455 | 6,111 | 16,316 | ||||
Interest paid | ||||||
942 | 684 | 1,519 | ||||