| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||
Net income (loss) | |||||||||||
304,881 | 282,019 | 263,111 | 269,684 | 239,817 | 192,002 | 229,717 | 178,216 | 184,294 | 142,181 | 127,301 | 125,141 |
Redeemable non-controlling interest, Net income (loss) | |||||||||||
- | -761 | -2,270 | -2,137 | - | 169 | 5,334 | 6,374 | 6,782 | 6,850 | 7,657 | 9,460 |
Net income | |||||||||||
304,881 | 281,258 | 260,841 | 267,547 | 239,817 | 192,171 | 235,051 | 184,590 | 191,076 | 149,031 | 134,958 | 134,601 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
96,101 | 64,868 | 58,503 | 54,553 | 54,286 | 51,064 | 52,815 | 56,089 | 58,357 | 57,881 | 53,047 | 54,640 |
Amortization of debt issuance costs | |||||||||||
1,779 | 3,975 | 1,884 | 1,531 | 13,546 | 3,240 | 6,035 | 8,079 | 1,952 | 385 | 561 | 645 |
Amortization of acquired intangible assets | |||||||||||
32,612 | 38,850 | 36,412 | 27,183 | 28,513 | 28,543 | 23,645 | 23,305 | 20,132 | 16,275 | 26,540 | 37,426 |
Reserve for mortgage loans | |||||||||||
- | - | - | - | - | - | - | - | 52 | 12 | -1,022 | 754 |
Gain on business acquisition | |||||||||||
- | - | - | - | - | - | - | - | - | 247 | - | - |
Unrealized loss (gain) on revaluation of foreign currency asset/liability | |||||||||||
5,171 | -3,352 | 11,830 | -1,717 | 4,999 | -9,419 | 6,251 | 13,700 | 18,276 | 284 | 166 | -2,583 |
Equity-method investment activity, net | |||||||||||
-16 | -12 | -4,543 | -7,698 | -10,800 | -4,795 | 169 | 17 | -327 | -1,013 | -700 | -925 |
Excess tax benefit on stock-based compensation | |||||||||||
- | - | - | - | 6,560 | 0 | 0 | - | - | - | - | - |
Stock-based compensation expense | |||||||||||
83,885 | 48,998 | 35,685 | 25,113 | 24,976 | 28,065 | 31,129 | 32,152 | 27,767 | 17,514 | 19,285 | 16,936 |
Deferred tax expense (benefit) | |||||||||||
-16,315 | 6,054 | -10,391 | 30,454 | -18,713 | -12,252 | -1,116 | -10,028 | -7,981 | -5,400 | -20,740 | -24,421 |
Loss (gain) on divestiture | |||||||||||
- | - | -5,668 | 5,214 | - | - | - | - | - | - | - | - |
Gain on exchange of non-monetary asset | |||||||||||
31,380 | - | 4,100 | - | - | - | - | - | - | - | - | - |
Others, net | |||||||||||
2,229 | -1,317 | 685 | 41 | 238 | -1,291 | -5,939 | -6,579 | -5,322 | -181 | 206 | 1,766 |
Change in operating assets and liabilities: | |||||||||||
Increase in accounts receivable | |||||||||||
121,983 | 76,894 | 57,267 | 48,612 | 78,923 | 24,088 | 60,817 | 36,171 | 46,314 | 50,414 | 21,980 | 42,429 |
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets | |||||||||||
69,813 | 76,392 | 28,381 | 62,852 | 32,602 | 31,657 | -9,377 | 20,525 | 10,461 | 25,932 | 32,005 | 1,095 |
Increase (decrease) in accounts payable | |||||||||||
-21,375 | 26,401 | -2,155 | -463 | -3,988 | -7,268 | 1,785 | -4,380 | 6,800 | -2,631 | 4,214 | -3,054 |
Decrease in accrued expenses, other current liabilities, operating leases liability and other liabilities | |||||||||||
157,580 | 5,993 | 46,581 | 27,977 | 69,606 | 27,500 | 9,316 | 79,034 | 27,517 | -2,560 | -11,155 | 29,506 |
Increase (Decrease) in other liabilities | |||||||||||
- | - | - | - | - | - | - | - | -6,301 | 3,161 | 4,675 | 5,334 |
Increase in income taxes payable | |||||||||||
8,346 | 5,597 | 4,640 | 704 | 18,757 | -2,092 | -6,555 | 1,775 | 10,345 | 6,447 | -563 | -4,758 |
Net cash used for operating activities | |||||||||||
427,888 | 339,511 | 359,078 | 345,772 | 327,441 | 271,838 | 311,604 | 310,660 | 266,612 | 163,098 | 158,169 | 211,235 |
Write-down of intangible assets and property, plant and equipment | |||||||||||
3,511 | 4,265 | 9,311 | 11,195 | 10,714 | - | 2,373 | - | - | - | - | - |
Reserve for doubtful receivables/allowance for credit losses | |||||||||||
7,443 | 1,857 | 9,819 | 7,282 | 2,449 | 3,107 | 11,420 | 3,878 | 6,298 | 1,334 | 1,614 | 1,876 |
Investing activities | |||||||||||
Purchase of property, plant and equipment | |||||||||||
74,927 | 84,978 | 57,231 | 81,926 | 62,173 | 62,577 | 48,879 | 83,337 | 35,776 | 55,171 | 52,540 | 62,421 |
Payment for internally generated intangible assets (including intangibles under development) | |||||||||||
33,834 | 75,439 | 16,441 | 6,846 | - | - | - | - | - | - | - | - |
Purchase of property, plant and equipment in an asset acquisition | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 7,015 |
Proceeds from sale of property, plant and equipment | |||||||||||
1,750 | 668 | 1,738 | 547 | 1,486 | 564 | 3,442 | 500 | 916 | 1,239 | 1,147 | 7,405 |
Investment in equity affiliates | |||||||||||
- | - | 496 | 9,620 | 18,423 | - | - | 205 | - | 2,324 | 296 | 1,789 |
Proceeds from sale of equity affiliates | |||||||||||
2,168 | - | - | - | - | - | - | - | - | - | - | - |
Short-term deposits placed | |||||||||||
- | - | - | - | - | 25,000 | 55,001 | 43,978 | - | 6,530 | -111,049 | 282,348 |
Redemption of short-term deposits | |||||||||||
- | - | - | - | - | 25,000 | 69,249 | 25,638 | - | 16,325 | 160,405 | 248,383 |
Purchase of short term investments | |||||||||||
- | - | - | - | - | - | - | - | 129,458 | 107,324 | 246,914 | 182,442 |
Proceeds from sale of short term investments | |||||||||||
- | - | - | - | - | - | - | - | 206,443 | 162,940 | 255,778 | 40,780 |
Payment for business acquisitions, net of cash acquired | |||||||||||
252,276 | 111,571 | 284,822 | 45,162 | 21,363 | 130,809 | 49,235 | 55,901 | 577,233 | 42,575 | 20,196 | - |
Proceeds from divestiture of business, net of cash divested | |||||||||||
- | 4,730 | -4,738 | 17,242 | - | - | 1,982 | - | - | - | - | - |
Net cash used for investing activities | |||||||||||
-357,119 | -276,050 | -361,990 | -125,765 | -100,473 | -192,822 | -78,442 | -157,283 | -535,108 | -33,420 | -13,665 | -239,447 |
Financing activities | |||||||||||
Repayment of finance lease obligations | |||||||||||
7,380 | 2,395 | 2,708 | 1,793 | 2,035 | 2,095 | 1,803 | 2,279 | 2,821 | 4,861 | 2,603 | 3,139 |
Payment of debt issuance costs | |||||||||||
2,317 | 4,293 | 2,630 | - | 6,584 | - | 8,104 | - | - | - | 0 | - |
Proceeds from long-term debt | |||||||||||
400,000 | 129,186 | 350,000 | - | 800,000 | - | 121,410 | 675,000 | 120,000 | - | - | - |
Repayment of long-term debt | |||||||||||
34,000 | 166,186 | 40,000 | 40,000 | 684,875 | 6,750 | 123,098 | 106,688 | 40,000 | 45,000 | 30,000 | 25,063 |
Proceeds from short-term borrowings | |||||||||||
400,000 | 250,000 | 295,000 | 200,000 | 1,451,500 | 195,000 | 275,000 | 80,000 | 260,000 | - | - | - |
Repayment of short-term borrowings | |||||||||||
625,000 | 125,000 | 285,000 | 61,500 | 1,565,000 | 60,000 | 355,000 | 253,004 | 8,000 | 165 | -24,820 | 25,000 |
Proceeds from issuance of common shares under stock-based compensation plans | |||||||||||
19,670 | 14,034 | 15,528 | 18,228 | 16,088 | 30,144 | 45,859 | 26,227 | 12,840 | 24,826 | 13,743 | 13,214 |
Payment for net settlement of stock-based awards | |||||||||||
3,850 | 15,919 | 10,296 | 769 | 7,194 | 25,975 | 9,315 | 2,103 | - | - | - | - |
Payment of earn-out consideration | |||||||||||
12,790 | 3,356 | 6,219 | 1,485 | 230 | 1,088 | 3,868 | 587 | - | - | - | - |
Dividend paid | |||||||||||
64,671 | 57,102 | 46,686 | - | - | - | - | 501,620 | - | - | - | - |
Cost incurred in relation to debt amendment and refinancing | |||||||||||
- | - | - | - | - | - | - | 15,266 | 9,115 | - | - | - |
Distribution to non-controlling interest | |||||||||||
- | - | - | - | - | 1,487 | 6,423 | 5,760 | 6,805 | 7,065 | -7,866 | 9,648 |
Payment for stock repurchased and retired | |||||||||||
30,000 | 154,058 | 219,784 | 345,200 | 226,917 | 302,625 | - | - | - | - | - | - |
Payment for expenses related to stock repurchase | |||||||||||
15 | 98 | 16 | 279 | 197 | 2,543 | - | - | - | - | - | - |
Net cash used for financing activities | |||||||||||
39,647 | -135,187 | 47,189 | -232,798 | -218,884 | -177,419 | -65,342 | -106,080 | 326,099 | -32,265 | -51,546 | 364 |
Effect of exchange rate changes | |||||||||||
-11,716 | -64,346 | 37,568 | -15,493 | -18,965 | -11,085 | -55,772 | 3,911 | -53,617 | 17,887 | 11,726 | -67,408 |
Net decrease in cash and cash equivalents | |||||||||||
110,416 | -71,726 | 44,277 | -12,791 | 8,084 | -98,403 | 167,820 | 47,297 | 57,603 | 97,413 | 92,958 | -27,848 |
Excess tax benefit on stock-based compensation | |||||||||||
- | - | - | - | 6,560 | - | - | - | - | - | - | - |
Supplementary information | |||||||||||
Cash paid during the period for interest | |||||||||||
45,084 | 41,484 | 27,915 | 19,530 | 20,950 | 27,175 | 30,788 | 14,061 | 5,026 | 1,617 | 4,274 | 6,250 |
Cash paid during the period for income taxes, net of refund | |||||||||||
104,217 | 81,411 | 66,238 | 46,731 | 72,102 | 83,803 | 71,857 | 91,825 | 65,688 | 40,466 | 67,561 | 38,193 |
Right-of-use assets acquired under finance leases | |||||||||||
5,008 | 2,031 | 2,318 | 2,206 | 1,656 | 2,176 | 2,342 | 2,699 | 1,787 | 1,968 | 1,558 | 4,941 |
Non-cash transaction: Gain on exchange of non-monetary asset | |||||||||||
31,380 | - | 4,100 | - | - | - | - | - | - | - | - | - |