| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net income | ||||||||
103,700 | 86,569 | 55,419 | 75,126 | 85,377 | 66,157 | -27,117 | 77,366 | 24,214 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
68,082 | 63,067 | 64,250 | 59,567 | 64,974 | 65,988 | 70,366 | 71,492 | 69,891 |
Amortization of debt issue costs and accretion of discount | ||||||||
2,988 | 4,316 | 5,128 | 4,334 | 3,329 | 3,094 | 3,905 | 5,091 | 7,995 |
Amortization of debt issue costs and accretion of discount | ||||||||
6,161 | 0 | 0 | - | - | - | - | - | - |
Loss on extinguishment of debt | ||||||||
0 | -2,600 | 0 | -1,476 | 0 | - | - | - | - |
Write-off of debt issue costs, premium and discount accounted as loss on extinguishment of debt | ||||||||
- | - | - | - | - | - | 16,555 | - | - |
Provision for doubtful accounts and sundry losses | ||||||||
3,939 | 2,112 | 843 | 1,990 | 2,130 | 1,360 | 673 | 1,645 | 1,005 |
Deferred tax benefit | ||||||||
-6,391 | -4,611 | -4,306 | -4,594 | -3,090 | -3,701 | -3,419 | -66,568 | -22,083 |
Share-based compensation | ||||||||
13,570 | 12,592 | 9,642 | 6,408 | 5,204 | 4,587 | 6,179 | 1,204 | 884 |
Loss on impairment of software | ||||||||
0 | 0 | 11,441 | 2,277 | 0 | - | - | - | - |
Unrealized gain on indemnification assets | ||||||||
- | - | - | - | - | - | -383 | 966 | 292 |
Realized loss on derivative | ||||||||
- | - | - | - | - | - | - | - | -1,399 |
Amortization of a contract liability | ||||||||
- | - | - | - | - | - | - | -703 | 7,440 |
Loss on disposition of property and equipment and other intangibles | ||||||||
-893 | -109 | -430 | -453 | -143 | -734 | -538 | -1,671 | -122 |
Earnings of equity method investment | ||||||||
900 | 700 | 600 | -52 | 147 | 1,140 | 935 | 564 | 833 |
Dividend received from equity method investment | ||||||||
485 | 390 | 0 | 0 | - | 326 | 984 | 1,630 | 1,467 |
Prepayment penalty related to debt refinancing | ||||||||
- | - | - | - | - | - | - | - | 3,387 |
Premium on issuance of long-term debt | ||||||||
- | - | - | - | - | - | - | 2,000 | - |
(Increase) decrease in assets: | ||||||||
Accounts receivable, net | ||||||||
7,851 | 18,181 | 2,099 | 2,583 | 4,482 | 5,587 | -13,646 | 15,966 | -3,703 |
Prepaid expenses and other assets | ||||||||
8,770 | 3,911 | 4,048 | 1,426 | 146 | -65 | -447 | -2,257 | 7,409 |
Other long-term assets | ||||||||
1,750 | 4,432 | -1,654 | 1,790 | 70 | -3,365 | 1,381 | 3,567 | - |
Increase (decrease) in liabilities: | ||||||||
Accrued liabilities and accounts payable | ||||||||
-215 | 16,057 | -870 | 14,594 | 15,947 | -3,925 | -19,480 | 6,800 | -1,977 |
Income tax payable | ||||||||
-596 | 5,245 | -349 | 405 | -606 | 1,697 | -2,700 | -424 | 944 |
Unearned income | ||||||||
11,504 | 7,021 | 8,444 | 8,018 | 2,207 | 3,571 | 3,966 | 266 | 584 |
Operating lease liabilities | ||||||||
-6,055 | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||
1,191 | 4,438 | 811 | 3,747 | -8,351 | 3,228 | - | - | - |
Total adjustments | ||||||||
76,249 | 86,165 | 90,367 | 92,928 | 77,042 | 73,662 | 89,727 | 5,298 | 45,157 |
Net cash provided by operating activities | ||||||||
179,949 | 172,734 | 145,786 | 168,054 | 162,419 | 139,819 | 62,610 | 82,664 | 69,371 |
Cash flows from investing activities | ||||||||
Net (increase) decrease in restricted cash | ||||||||
- | - | - | - | 6,100 | 285 | 494 | -349 | -812 |
Additions to software | ||||||||
36,871 | 27,386 | 22,174 | 23,819 | 25,960 | 14,707 | 16,727 | 10,896 | 14,466 |
Acquisitions, net of cash acquired | ||||||||
5,585 | 0 | 42,836 | 15,600 | 0 | - | - | - | - |
Property and equipment acquired | ||||||||
23,002 | 13,933 | 11,290 | 18,450 | 21,022 | 10,898 | 11,692 | 16,613 | 8,963 |
Proceeds from sales of property and equipment | ||||||||
111 | 19 | 32 | 81 | 14 | 59 | 16 | 118 | 114 |
Acquisition of an equity method investment | ||||||||
- | - | - | - | - | - | - | - | 9,244 |
Net cash used in investing activities | ||||||||
-65,347 | -41,300 | -76,268 | -57,788 | -53,068 | -25,831 | -28,897 | -27,042 | -31,747 |
Cash flows from financing activities | ||||||||
Statutory withholding taxes paid on share-based compensation | ||||||||
8,849 | 2,159 | 1,588 | 548 | 306 | 2,001 | 16,851 | - | - |
Proceeds from initial public offering, net of offering costs of $12,567 | ||||||||
- | - | - | - | - | - | 112,432 | - | - |
Proceeds from issuance of long-term debt | ||||||||
0 | 545,000 | 0 | 75,763 | 0 | - | 700,000 | 208,725 | - |
Debt issuance costs | ||||||||
0 | 4,418 | 0 | 4,830 | 0 | - | 12,077 | 2,174 | - |
Net decrease in short-term borrowings | ||||||||
0 | -12,000 | -16,000 | 11,000 | -6,000 | -27,000 | 36,000 | 14,000 | - |
Net proceeds under short-term borrowings | ||||||||
- | - | - | - | - | - | 1,800 | 12,995 | - |
Repayment of short-term borrowings for purchase of equipment and software | ||||||||
886 | 720 | 2,373 | 2,213 | 1,542 | 1,200 | 13,596 | - | 0 |
Dividends paid | ||||||||
14,420 | 7,273 | 21,762 | 29,696 | 30,921 | 31,359 | 16,390 | 319,959 | - |
Tax windfall benefits on share-based compensation | ||||||||
- | - | - | - | - | 3,669 | 1,829 | - | - |
Issuance of common stock | ||||||||
- | - | - | - | - | 543 | 29 | 450 | 2,641 |
Repurchase of common stock | ||||||||
31,800 | 10,000 | 7,700 | 39,946 | 54,949 | 26,197 | 75,000 | - | - |
Settlement of stock options | ||||||||
- | - | - | - | - | -1,604 | - | - | - |
Repayment of long-term debt | ||||||||
14,250 | 613,485 | 19,789 | 96,741 | 19,000 | 19,000 | 755,024 | - | 38,590 |
Credit amendment fees | ||||||||
- | - | - | 3,587 | 0 | - | 224 | 225 | 674 |
Net cash used in financing activities | ||||||||
-70,227 | -105,055 | -69,183 | -90,798 | -112,718 | -104,149 | -37,072 | -86,188 | -36,623 |
Net decrease in cash, cash equivalents and restricted cash | ||||||||
44,375 | 26,379 | 335 | 19,468 | -3,367 | 9,839 | -3,359 | -30,566 | 1,001 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid for interest | ||||||||
28,233 | 26,891 | 25,379 | 22,535 | 21,497 | 24,280 | 41,340 | 45,703 | 43,427 |
Cash paid for income taxes | ||||||||
18,703 | 9,750 | 9,930 | 8,697 | 5,682 | 976 | 2,340 | 2,837 | 1,638 |
Supplemental disclosure of non-cash activities: | ||||||||
Liability related to unvested portion of stock options as a result of equitable adjustment (Note 14) | ||||||||
- | - | - | - | - | - | - | 3,151 | - |
Payable due to vendor related to equipment and software acquired | ||||||||
2,622 | 317 | 1,037 | 3,302 | 3,638 | 6,115 | 3,006 | - | 0 |