| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
138,400 | 82,000 | 139,800 | -21,900 | -120,400 | -143,300 | -199,900 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
209,700 | 234,100 | 205,800 | 160,100 | 158,800 | 152,800 | 140,600 |
Equity-based compensation expense | ||||||
147,000 | 125,500 | 76,400 | 56,800 | 40,400 | 30,100 | 16,400 |
Amortization of original issue discount and debt issuance costs | ||||||
- | - | - | - | - | 9,100 | 9,300 |
Loss on debt extinguishment | ||||||
-14,800 | 0 | -7,300 | 0 | -21,400 | 0 | 0 |
Deferred taxes | ||||||
- | - | - | -3,800 | -3,000 | -6,800 | -3,500 |
Tax receivable agreements liability adjustment | ||||||
-8,700 | -14,900 | -123,200 | 12,500 | 0 | 0 | - |
Gain on sale of discontinued operations | ||||||
0 | 0 | 33,200 | 0 | - | - | - |
Domain portfolio cost of revenue | ||||||
- | - | - | - | 3,700 | 0 | - |
Gain on sale of PlusServer | ||||||
- | - | - | - | 0 | - | - |
Other | ||||||
-32,700 | 11,400 | 21,200 | -20,500 | -8,000 | -1,300 | 100 |
Changes in operating assets and liabilities, net of amounts acquired: | ||||||
Accounts and other receivables | ||||||
- | - | - | - | - | - | 2,400 |
Registry deposits | ||||||
-1,100 | -6,200 | 10,100 | 1,900 | 900 | 2,700 | -200 |
Prepaid domain name registry fees | ||||||
15,100 | 15,900 | 13,500 | 22,800 | 30,700 | 21,600 | 29,200 |
Prepaid expenses and other current assets | ||||||
- | - | - | - | - | - | 11,700 |
Other assets | ||||||
- | - | - | - | - | - | -1,500 |
Accounts payable | ||||||
13,600 | -3,400 | -8,400 | 19,600 | 13,500 | 8,500 | 1,900 |
Accrued expenses and other current liabilities | ||||||
40,400 | 14,900 | 32,600 | 10,000 | 9,500 | -22,300 | 60,600 |
Deferred revenue | ||||||
179,500 | 158,000 | 220,000 | 160,800 | 165,600 | 166,400 | 169,100 |
Other operating assets and liabilities | ||||||
30,000 | 15,300 | -3,300 | 3,400 | 6,700 | -9,100 | -500 |
Net cash provided by operating activities | ||||||
723,400 | 559,800 | 475,600 | 386,500 | 259,200 | 180,600 | 153,300 |
Investing activities | ||||||
Purchases of short-term investments | ||||||
64,100 | 24,800 | 28,300 | 10,500 | 7,300 | 9,000 | 12,700 |
Maturities of short-term investments | ||||||
59,900 | 18,500 | 22,600 | 8,400 | 5,800 | 9,200 | 12,700 |
Business acquisitions, net of cash acquired | ||||||
40,300 | 147,200 | 1,876,900 | 118,500 | 64,700 | 40,700 | 156,800 |
Purchases of intangible assets | ||||||
4,700 | 9,300 | 52,000 | 1,300 | 23,500 | 0 | 0 |
Net proceeds from sale of discontinued operations, including post-closing adjustments | ||||||
0 | 4,300 | -447,700 | 0 | - | - | - |
Proceeds received from sale of PlusServer | ||||||
- | - | - | - | 0 | - | - |
Purchases of property and equipment | ||||||
87,600 | 87,700 | 83,200 | 61,500 | 55,800 | 51,900 | 42,700 |
Purchases of leasehold and building improvements | ||||||
- | - | - | - | - | 16,000 | 9,400 |
Other investing activities | ||||||
-1,500 | 0 | 0 | - | -1,100 | -1,100 | -400 |
Net cash used in investing activities | ||||||
-135,300 | -254,800 | -1,570,100 | -183,400 | -144,400 | -107,300 | -208,500 |
Financing activities | ||||||
Proceeds received from: | ||||||
Issuance of Senior Notes | ||||||
600,000 | 0 | 0 | - | - | - | - |
Debt issued to finance HEG acquisition | ||||||
- | - | - | 0 | 0 | 263,800 | 100,000 |
Revolving credit loan | ||||||
- | - | - | - | - | 75,000 | 0 |
Stock option exercises | ||||||
70,700 | 67,200 | 61,100 | 55,000 | 12,700 | - | - |
Class A common stock sold in initial public offering, net of offering costs | ||||||
- | - | - | - | - | -1,800 | 0 |
Issuances of Class A common stock under employee stock purchase plan | ||||||
28,500 | 21,900 | 17,400 | 5,000 | 11,500 | 0 | 0 |
Debt issued to finance HEG acquisition | ||||||
0 | 0 | 1,953,100 | - | 0 | - | - |
Sales of Class A common stock, net of issuance costs | ||||||
0 | 0 | 22,900 | 0 | 482,400 | 2,400 | 3,300 |
Payments made for: | ||||||
Repurchases of Class A common stock | ||||||
458,600 | 0 | 0 | 18,800 | 800 | - | - |
Repayment of term loans | ||||||
625,000 | 25,000 | 15,300 | 11,000 | 11,000 | 7,600 | 7,800 |
Contingent consideration for business acquisitions | ||||||
54,800 | 10,400 | 1,200 | - | - | - | - |
Repayment of senior note | ||||||
- | - | - | - | 300,000 | 0 | 0 |
Repayment of revolving credit loan | ||||||
- | - | - | - | 75,000 | 0 | 0 |
Financing-related costs | ||||||
13,200 | 0 | 39,700 | 0 | 13,500 | 8,400 | 4,100 |
Repurchases of LLC Units and distributions to holders of LLC Units | ||||||
0 | 0 | 285,000 | - | - | - | - |
Distributions to holders of LLC Units | ||||||
- | - | - | - | - | 349,000 | 0 |
Repayment of HEG acquisition bridge financing | ||||||
0 | 0 | 596,600 | 0 | 0 | - | - |
Other financing obligations | ||||||
4,500 | 6,700 | 9,200 | 15,100 | 11,900 | 4,100 | 300 |
Net cash used in financing activities | ||||||
-456,900 | 47,000 | 1,107,500 | 15,100 | 94,400 | -29,700 | 91,100 |
Effect of exchange rate changes on cash and cash equivalents | ||||||
-800 | -2,300 | 3,600 | -100 | -200 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | ||||||
130,400 | 349,700 | 16,600 | 218,100 | 209,000 | 43,600 | 35,900 |
Supplemental cash flow information: | ||||||
Cash paid during the period for: | ||||||
Interest on long-term debt, net of swap benefit | ||||||
80,300 | 84,100 | 88,300 | 46,500 | 59,100 | 75,400 | 61,800 |
Income taxes, net of refunds received | ||||||
6,100 | 22,800 | 16,600 | 4,000 | 2,300 | 2,300 | 2,500 |
Supplemental information for non-cash investing and financing activities: | ||||||
Acquisition date fair value of contingent consideration | ||||||
0 | 45,600 | 14,800 | 5,600 | 900 | 2,300 | 0 |
Accrued purchases of property and equipment at period end | ||||||
7,400 | 21,900 | 7,400 | 13,100 | - | 5,800 | 8,300 |
Landlord paid tenant improvements included in purchases of property and equipment | ||||||
11,200 | 4,100 | 0 | - | - | - | - |
Accrued capital expenditures at period end | ||||||
- | - | - | - | 5,000 | 400 | 1,300 |
Property and equipment acquired under capital leases | ||||||
- | - | - | - | 11,100 | 16,600 | 2,800 |
Building acquired under lease financing obligation | ||||||
- | - | - | - | - | 18,100 | 5,300 |